Over the last few weeks, the Bitcoin price has been on a downward trend, experiencing significant declines that have pushed it below its all-time high above $104,000. Despite this price crash, a crypto analyst has predicted that Bitcoin could recover from this slump and potentially reach a new ATH at $107,000. However, for the pioneer cryptocurrency to make this recovery, it would have to break past a crucial Fibonacci level. Why The Bitcoin Price Could Rebound To $107,000 Crypto analyst CobraVanguard released a chart analysis on TradingView, illustrating Bitcoin’s price movement and potential recovery to $107,000 in the coming days. The analyst’s price chart showed that Bitcoin was previously in a rising wedge, a technical pattern generally viewed as a bearish signal as it indicates the likelihood of a price decline during an uptrend. Related Reading: Dogecoin Price Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15 True to the pattern, Bitcoin broke below the rising wedge, turning its price significantly bearish and triggering declines. Following this wedge breakout, Bitcoin plummeted from above $100,000 to $94,000 in just a few days. CobraVanguard has noted that the Fibonacci retracement levels at 0.618 and 0.382 are marked on the chart, possibly indicating potential resistance and support zones for Bitcoin. With the price of Bitcoin crashing after breaking the wedge, it is now consolidating close to the 0.382 Fibonacci level between $92,000 and $94,000. Considering Bitcoin’s current bear trend, the 0.382 Fibonacci level may act as support if its price falls again. On the other hand, CobraVanguard has predicted that if Bitcoin can break above the 0.618 Fibonacci level between $98,000 and $100,000, it could indicate renewed bullish momentum, potentially triggering a price recovery towards a new all-time high of $107,000, marked as the “target” zone on the chart. Based on the trajectory of the arrow in CobraVanguard’s chart analysis, it appears that before Bitcoin can hit $107,000, it may face an even steeper decline to $90,000. The trajectory suggests a rebound towards $94,000, followed by a dip to $92,000. From there, Bitcoin is expected to climb to $100,000, experience another major pullback towards $95,000, and then surge to the analyst’s projected ATH at $107,000. Analyst Predicts More Downside For Bitcoin Prominent crypto analyst Jelle has expressed bearish sentiment on the Bitcoin price outlook towards the end of the year. The analyst compared Bitcoin’s current price movements with those of the previous cycle, highlighting similarities in fractals and bearish trends. Related Reading: Bitcoin Price Flashes Major Buy Signal On The 4-Hour TD Sequential Chart, Where To Enter? Jelle predicts that Bitcoin’s price could drop below $90,000 this week from its current market value of $94,192. The analyst has based this projected price decline on low liquidity, highlighting that festive holidays like Christmas often trigger less liquidity for digital assets, leading to potential downside risks. Nevertheless, the analyst forecasts that after the short-term retracement, Bitcoin could resume its upward momentum in 2025. Based on his chart, he projects that the cryptocurrency could surge as high as $190,000 in Q2 next year. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin exceeds 99,000 dollars but must stabilize above six figures. MINA Coin needs to regain support at 0.68 dollars for potential upward movement. Continue Reading: Cryptocurrency Trends Indicate Potential Outcomes for Bitcoin, AVAX, and MINA Coin The post Cryptocurrency Trends Indicate Potential Outcomes for Bitcoin, AVAX, and MINA Coin appeared first on COINTURK NEWS .
Despite a surge in cryptocurrency adoption, Robinhood’s refusal to hold Bitcoin raises questions about its strategic positioning in the market. Robinhood has decided not to hold Bitcoin as an investment.
In a very genial nod to Bitcoin, Cramer asked about the new administration’s plans for crypto and, in his question, drew a comparison to the U.S. strategic petroleum reserve. Will the White House push for something like that? “Yeah, I think so,” Trump answered. But the rest of his answer really showed an understanding of the cryptocurrency sector’s importance to the global economy in terms of first principles. That may be the influence of tech engineer and government efficiency advisor Elon Musk, who is famous for saying , “I think it’s important to reason from first principles rather than by analogy.” Trump Tells Jim Cramer’s About Crypto “We’re going to do something great with crypto,” Trump told Kramer. “Because we don’t want China or anybody else— others are embracing it and we want to be the head. We want to be the head of AI. We’re gonna be ahead of AI,” he added. Then Trump said something that proves he’s a crypto fundamentalist, not just a headline reader doing what Elon Musk or his son Barron are telling him: “And we’ve got to produce a tremendous amount of electricity. And you know that,” he explained. “It’s unbelievable when you think that we need more than twice what we already have. But we’ll be able to do it.” The Future History of The 21st Century Solar panel prices have already fallen on a parabolic trajectory since the 1970s, pacing like Moore’s Law dictates of computer microchip prices. But electricity could become even more abundant and cheap. Bitcoin is not only new Internet money. It’s also an industry with immediate incentives to develop cheap, abundant, renewable energy production. Each time the chip race for more efficient Bitcoin miners catches up to the state of the art, the only place left for miners to compete is on electricity costs. They are already poised to race each other for profit against this expense line in their business model. The possibilities of a smart electrical grid metered by blockchain platforms that are more articulately interchangeable with monetary currencies are scintillating . Trump Appointments Bullish for Crypto Before his inauguration on Jan. 20, Trump has already delivered enormous wins for the blockchain cryptocurrency sector. His nominations for Treasury Secretary, SEC Chair, and White House Crypto “Czar” are very bullish signals for prices on crypto exchange markets. Two have strong ties to cryptocurrency, and one (Trump’s pick for SEC Chair) is supportive of the industry, according to Mr. Trump. US Treasury Secretary: Howard Lutnick SEC Chair: Paul Atkins Crypto and AI Advisor: David Sacks The post Trump Gets It: Bitcoin Is a Bounty on Abundance Electricity Production appeared first on CryptoPotato .
Why is Robinhood reluctant to hold Bitcoin while others dive in?
Despite Bitcoin's 130% surge to $98,600 in 2024, most mining firms struggled due to decreased block rewards and increased operational costs. The post Bitcoin miners struggle despite BTC’s 130% surge in 2024 appeared first on Crypto Briefing .
The government of El Salvador raised its daily Bitcoin ( BTC ) purchase by elevenfold on two separate days in the past week. The Central American country started buying one BTC every day in November 2022, shortly after the crypto exchange FTX imploded. Last Friday, however, El Salvador purchased more than 11 BTC worth $1.07 million, and they executed another 11 BTC purchase on Sunday, per the crypto data platform Arkham . BTC advocate Max Keiser, who works as the “senior Bitcoin advisor” to El Salvador President Nayib Bukele, says Bukele is ramping up buys “with an interim goal of acquiring 20,000 more Bitcoin.” The additional purchases come shortly after El Salvador secured a $1.4 billion loan facility from the International Monetary Fund (IMF). The IMF says the facility is expected to “catalyze” a combined total of $3.5 billion in financing from the World Bank and various other international financial institutions, but the UN financial agency claimed in a press release that El Salvador’s government agreed to limit its crypto efforts as part of the agreement. “The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies. Legal reforms will make the acceptance of Bitcoin by the private sector voluntary. For the public sector, engagement in Bitcoin-related economic activities and transactions in and purchases of Bitcoin will be confined. Taxes will only be paid in US dollars and the government’s participation in the crypto e-wallet (Chivo) will be gradually unwound. Transparency, regulation, and supervision of digital assets will be enhanced to safeguard financial stability, consumer and investor protection, and financial integrity.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post El Salvador Raises Daily Bitcoin Purchase Elevenfold for Two Days As BTC Reserves Soars to Over $574,000,000 appeared first on The Daily Hodl .
BTC shows potential for new highs, but caution remains necessary. Solana and its SOL Coin are witnessing a resurgence in interest and value. Continue Reading: Market Trends Indicate Growth Potential for Solana, Shiba Coin, and PEPE Coin The post Market Trends Indicate Growth Potential for Solana, Shiba Coin, and PEPE Coin appeared first on COINTURK NEWS .
A recent tweet by prominent cryptocurrency influencer Amelie has reignited discussions surrounding XRP’s potential to address critical issues within the blockchain ecosystem. The tweet , accompanied by a commercial produced by the SBI Group, conveys a bold assertion that XRP may surpass Bitcoin in solving some of the problems that Bitcoin was initially designed to address. REMEMBER THIS AWESOME SBI GROUP COMMERCIAL? #XRP WILL TAKEOVER BITCOIN BECAUSE IT WILL END UP SOLVING SOME OF THE ORIGINAL PROBLEMS BITCOIN WAS DESIGNED TO SOLVE! ONLY 9 MORE DAYS UNTIL EVERY JAPANESE BANK WILL START USING XRP, ACCORDING TO THE SBI CEO! pic.twitter.com/eLMKta2eH9 — 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) December 23, 2024 The commercial employs a visual analogy to convey XRP’s advantages. It portrays two climbers—one symbolizing Bitcoin and the other XRP—competing in a race to the top of a wall. Bitcoin, depicted as a powerful and muscular climber, appears capable but ultimately loses to XRP, which is represented as a more strategic and composed climber dressed in a suit. The advertisement suggests that while Bitcoin is recognized for its strength and dominance in the cryptocurrency market, XRP’s efficiency and tailored design enable it to outpace Bitcoin in solving certain challenges. XRP vs. Bitcoin: A Comparison of Capabilities Bitcoin was designed as a decentralized digital currency to enable peer-to-peer transactions without intermediaries. However, its limitations have become evident, particularly in transaction speed, scalability, and energy consumption. Transactions on the Bitcoin network can take several minutes, with fees fluctuating based on network congestion. Additionally, Bitcoin’s reliance on proof-of-work (PoW) consensus demands significant energy resources, contributing to environmental concerns. XRP, on the other hand, was developed to address these issues, particularly in the context of cross-border payments and financial settlement. XRP boasts near-instant transaction speeds and significantly lower fees compared to Bitcoin. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 It utilizes a consensus protocol rather than PoW, making it more energy-efficient and scalable. These attributes align closely with the needs of financial institutions and global payment networks, such as those in Japan, where SBI Group has been actively promoting XRP adoption. The Role of SBI Group in XRP Adoption SBI Group, a Japanese financial services conglomerate, has long been an XRP advocate. The company’s CEO has frequently emphasized XRP’s utility in enabling faster and more cost-effective international transactions. The reference in Amelie’s tweet to “every Japanese bank” adopting XRP underscores SBI Group’s efforts to integrate XRP into Japan’s financial infrastructure. While the claim of full-scale adoption in nine days may be optimistic, it reflects the growing interest in XRP within the banking sector. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Remember This Awesome SBI Group Commercial About XRP appeared first on Times Tabloid .
North Korean hackers stole $308 million in Bitcoin ( BTC ) from Japanese cryptocurrency exchange DMM in May 2024, federal investigators confirmed Tuesday. The FBI, Japan’s National Police Agency and the Department of Defense Cyber Crime Center identified the North Korean group known as “TraderTraitor” as responsible for the theft of 4,502.9 Bitcoin, according to a new press release from the FBI. Investigators say the breach began in March when a hacker posed as a recruiter and sent a malicious GitHub link to an employee of Ginco, a DMM partner company. After the employee copied the link to their personal account, TraderTraitor gained system access and later impersonated the worker to infiltrate DMM’s communications. The hackers then intercepted and modified a legitimate transaction request from DMM, authorities said. The stolen funds were quickly transferred to wallets controlled by TraderTraitor, which officials have linked to North Korea’s government. The heist appears to be part of North Korea’s broader cryptocurrency theft campaign to generate revenue. According to the press release, the international investigation highlights growing concerns about state-sponsored cybercrime targeting digital assets. Law enforcement officials say the case demonstrates the need for enhanced global cooperation against cyber threats. In August, the blockchain security firm PeckShield said wallets associated with the hackers moved roughly 850 BTC worth more than $54 million to six different addresses in a week. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/X-Poser The post FBI and Other Federal Agencies Identify Hacker Behind $308,000,000 Hack of DMM Crypto Exchange appeared first on The Daily Hodl .