Historical data doesn't always predict crypto trends. Popular analyst discusses key details about Bitcoin. Continue Reading: Insights on Bitcoin’s Potential Surge
In a sobering analysis for cryptocurrency enthusiasts, veteran trader Peter Brandt casts doubt on the continuation of the current Bitcoin … Continue reading The post Has Bitcoin topped out? Peter Brandt signals potential end of bull run appeared first on Finbold .
Throughout the week ending on April 26, 2024, Bitcoin Spot ETFs in the U.S. experienced notable fluctuations in net flows. Moreover, these ETFs registered a massive weekly net outflow of $328 million as they lost steam. Furthermore, this surge in outflows preceded a crash in the Bitcoin price, potentially catalyzing the dip. Overview Of Bitcoin The post Bitcoin ETF Record Biggest Weekly Outflows Of $328M, What’s Next? appeared first on CoinGape .
Some regulatory concerns have compelled zkSNACKs to restrict United States customers’ access to its platform. Samourai Wallet Crackdown Possibly Triggered zkSNACKs zkSNACKs, the company behind the privacy-boosting Bitcoin wallet Wasabi Wallet, started blocking residents and citizens of the U.S. from accessing its platforms. This group of people cannot visit zkSNACKs website to download and use The post ZKSNACKS Bans US Customers Over “Regulation Concerns” appeared first on CoinGape .
Optimism Price Prediction: A majority of major cryptocurrencies have been trading sideways since the completion of the fourth Bitcoin halving on April 19th. Along with the BTC price wavering around $63000, the market participants see no firm initiation from bulls or bears. However, the layer 2 tokens of the Optimism blockchain, OP, have displayed strong The post Optimism Price Forecast: Is $OP Ready to Hit $4? appeared first on CoinGape .
Crypto Price Analysis: The cryptocurrency market experienced a recent downturn following the release of inflation data that surpassed expectations, heightening concerns among investors about the future of the global economy. According to CNBC, the core personal consumption expenditures (PCE) price index, which excludes food and energy, rose by 2.8% in March on a year-over-year basis, The post Crypto Price Prediction 28/4: $BTC Eyes $60,000 For Potential Recovery appeared first on CoinGape .
An executive at Musk's social media company X has revealed the platforms payments "end goal" that could play havoc with the bitcoin price and wider crypto market...
JPMorgan Chase CEO Jamie Dimon has reiterated his critical stance on bitcoin, labeling it a fraud and dismissing its potential as a legitimate currency. Former FTX CEO Sam Bankman-Fried has agreed to a settlement that involves cooperating with legal actions against celebrities linked to FTX’s collapse. U.S. analysts are evaluating the impact of the proposed
The Bitcoin network has witnessed a surge in trading activity in the days after the halving, as shown by on-chain data. Although the just concluded halving brought a lot of attention to Bitcoin, the recent surge in trading activity can be attributed to something else. According to data from on-chain analytics platform IntoTheBlock, the number of daily BTC transactions has grown rapidly in the past few days to reach a new high of 927,000 thanks to a new token standard called Runes. Related Reading: Analysts Call It: XRP Primed For A 700% Surge – Details Bitcoin Daily Transactions Reach New All-Time High Bitcoin’s price has been skyrocketing since the beginning of the year with interest in the top cryptocurrency exploding. All that new interest means more people buying, selling, and trading BTC, which has led to a huge increase in the number of daily transactions. Despite the increase in activity, the number of daily transactions failed to break above the 724,000 record for the past four months, until recently this week. The main catalyst for this activity surge is the recent launch of the Runes token standard on the Bitcoin blockchain. The Runes Protocol is a new token standard on BTC that gives users a more efficient way of creating fungible tokens. The additional functionality provided by Runes opens up new possibilities for Bitcoin, allowing users to create non-fungible tokens more efficiently than the existing BRC-20 token system. Bitcoin is now trading at $63.711. Chart: TradingView The Runes token standard surged immediately among developers and users after launch, constituting over 68% of Bitcoin transactions recorded. According to Dune’s analytics dashboard, the number of Runes transactions surged to 753,000 on Tuesday, April 23. As a result, the total number of transactions on the day crossed over 927,000 to break the 724,000 record set in December 2023. Bitcoin hit a new all-time high in daily transactions! Following the launch of Runes, The number of Bitcoin transactions has increased rapidly, hitting 927,000 on Tuesday. This breaks the previous high of 724k set in December of 2023 pic.twitter.com/30JXbrLmdR — IntoTheBlock (@intotheblock) April 26, 2024 On the other hand, the hype surrounding the Runes token standard seems to have faded so quickly. The number of transactions on Runes has now fallen to 104,800 in the past 24 hours, constituting 26% of the total number of transactions. Bitcoin Price Prediction At the time of writing, Bitcoin is trading at $63,711 with a price resistance now around $64,500. Bitcoin’s price trajectory can be very tough to predict. Many Bitcoin analysts and traders are still looking forward to a bullish effect of the just concluded halving on the price of the cryptocurrency. A Bitcoin bull flag has just been formed which suggests the possibility of an uptrend very soon. Related Reading: The Machines Know: Bitcoin Primed For Epic Price Surge To $77,000 However, crypto expert Peter Brandt believes Bitcoin might have already reached its top in the current market cycle. His theory is based on the exponential decay thesis which shows that the percentage gain of Bitcoin price has reduced in succeeding market cycles. Featured image from Pexels, chart from TradingView
A widely followed crypto analyst says that gold may just have signaled the local top of Bitcoin’s (BTC) recent strength. In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that if gold continues to do well, the top crypto asset by market cap may be in for a an extended The post Gold May Have Just Signaled End of Bitcoin (BTC) Rally, According to Analyst Benjamin Cowen – Here’s What He Means appeared first on The Daily Hodl .