Crypto analyst Elalemiami has revealed that the Dogecoin price is about to test the Gaussian channel on the chart. The analyst also mentioned what he expects to happen when DOGE touches the Gaussian band. Dogecoin Price Could Touch $2.5 As DOGE Tests Gaussian Channel In a TradingView post, Elalemiami suggested that the Dogecoin price could touch $2.5 as DOGE tests the Gaussian channel. The analyst’s accompanying chart showed that Dogecoin could even reach as high as $3. The crypto analyst also remarked that he expects a rebound to the upside once DOGE tests the Gaussian band . This Gaussian band is around $0.39, meaning that the Dogecoin price could again lose the $0.4 range. Elalemiami’s accompanying chart showed that Dogecoin witnessed a price rebound when it tested this Gaussian channel in the 2021 bull run . Back then, Dogecoin tested the Gaussian band at $0.0075 and witnessed a parabolic rally to around $0.07. The Dogecoin price undoubtedly looks promising. Crypto analyst Trader Tardigrade revealed a bull flag on DOGE’s chart, which puts the foremost meme coin at $2.15. In a recent X post, the crypto analyst stated that Dogecoin looks promising, holding above the 1-month exponential moving average (28 EMA) on the daily chart. Trader Tardigrade’s accompanying chart showed that the Dogecoin price could soon rally to $0.7, as it is holding well above this moving average. Meanwhile, crypto analyst KrissPax also highlighted a bull flag, which could send Dogecoin as high as $0.69 by year-end. This is significant, as it could pave the way for DOGE to reach its all-time high (ATH) at $0.73. The DOGE Chart Doesn’t Look Good In an X post, crypto analyst Kevin Capital offered a bearish outlook for the Dogecoin price, stating that the DOGE chart does not look very good at the moment. The analyst explained that Dogecoin has had three tops during this consolidation that produced strong selling candles at the macro golden pocket. Kevin added that the Dogecoin price has also broken down from an upward trend line of support. DOGE is now finding major resistance on the backtest and is threatening to lose the macro 0.5 Fibonacci level . In line with this, the analyst stated that the path of least resistance is definitely down, but it still depends on the Bitcoin price. The Bitcoin price recently reached a new ATH, which presents a bullish outlook for the Dogecoin price. However, Kevin warned that even if Dogecoin breaks up from here, the meme coin will still have major resistance at $0.49 and between $0.53 and $0.60. At the time of writing, the Dogecoin price is trading at around $0.4, up almost 2% in the last 24 hours, according to data from CoinMarketCap.
Bitcoin (BTC) mining economics continued to improve this month, as the hashprice, a measure of daily profitability, rose 5% from the end of November, JPMorgan (JPM) said in a research report Monday. The hashprice increased as the rally in the world's largest cryptocurrency outpaced the rise in the network hashrate, the report said. The hashrate is a proxy for competition in the industry and mining difficulty. The network hashrate has increased 6% month-to-date to an average of 773 exahashes per second (EH/s), the bank noted. "We note miners earned about $57,300 in daily block reward revenue per EH/s over the first two weeks of December," analysts Reginald Smith and Charles Pearce wrote, adding that this is the highest level in the last seven months, but is still about 40% below pre-halving levels. The combined hashrate of the fourteen U.S.-listed miners the bank tracks has increased almost 94% year-to-date to 222 EH/s and now accounts for around 29% of the global network, the bank said. The total market cap of the miners the bank tracks fell 4% or $1.5 billion, having increased more than 50% following the U.S. presidential election. The bank estimated that the U.S.-listed miners are currently trading on about two times their proportional share of the four-year block reward opportunity. Read more: Bitcoin Mining Profitability Improved in November, JPMorgan Says
Bitcoin (BTC) started the new week with a new record. At this point, the BTC price rose above $ 106,000, while CoinShares published its weekly cryptocurrency report and said that a record inflow of $ 3.2 billion was experienced last week. “Cryptocurrency investment products saw inflows of $3.2 billion last week, the 10th consecutive week of such inflows. Inflows so far this year have reached a staggering $44.5 billion.” Ethereum and XRP Remain the Focus! When looking at individual crypto funds, it was seen that the majority of inflows were in Bitcoin. While BTC saw an inflow of $2 billion, Ethereum (ETH) saw an inflow of $1.08 billion. When we look at other altcoins, XRP experienced an inflow of $145 million, Litecoin (LTC) $2.2 million, Polkadot (DOT) $2.2 million, Cardano (ADA) $1.9 million, and Solana (SOL) $1.7 million. “Bitcoin saw total inflows of $2 billion, bringing total inflows since the US election to $11.5 billion. Short Bitcoin products saw an inflow of $14.6 million after the recent price increases. Ethereum saw $1 billion inflows in the 7th week, bringing the total inflow to $3.7 billion in these 7 weeks. This indicates a significant improvement in sentiment. “XRP saw $145 million inflows as hopes for a US-listed ETF grew, while Polkadot and Litecoin saw inflows of $3.7 million and $2.2 million respectively.” When looking at regional fund inflows and outflows, it was seen that the USA ranked first with an inflow of 3.13 billion dollars. After the US, Switzerland and Germany also saw notable inflows with $35.6 million and $32.9 million respectively. In the face of these inflows, Sweden experienced a small outflow of $19 million. *This is not investment advice. Continue Reading: Institutional Investors Increase Altcoin Purchases as Bitcoin (BTC) Sets New Records! “Ethereum, XRP and These Four Altcoins Are at the Forefront!”
More on MicroStrategy MicroStrategy: Bubble Popped Once, Going To Pop Again? MicroStrategy: Risky Business Model Makes It A Top Short Idea For 2025 MicroStrategy: The Massive Bet On Bitcoin Could Pay Off Bitcoin surges above $106K as Fed decision looms
Over the years, JPMorgan (NYSE: JPM ) CEO Jamie Dimon has maintained a dismissive stance regarding Bitcoin’s ( BTC ) potential, with his concerns mostly centered on the asset’s ability to be leveraged in illicit activities. At the same time, Dimon has questioned Bitcoin’s actual value in the financial landscape. Despite his view on the maiden cryptocurrency, BTC has forged ahead, hitting new record highs. One of Dimon’s notable objections emerged on January 17, 2024, when he famously labeled Bitcoin a ‘pet rock,’ claiming that the digital currency ‘does nothing’ while vowing not to speak about it again. However, he broke this promise days later. To his credit, Dimon sees value in blockchain technology, especially for facilitating payments. “This is the last time I’ve ever talked about this [Bitcoin]. Blockchain is real. It’s a technology. We use it, it’s going to move money. There are cryptocurrencies that do something that might have value. And then there’s one that does nothing, I call it pet rock. The Bitcoin, or something like that,” said Dimon. Investing $1,000 in Bitcoin after ‘pet rock’ comments When the executive made these remarks, Bitcoin was trading at $43,132. Since then, BTC has surged 141% to trade at $104,038 as of December 16. BTC YTD price chart. Source: Finbold Therefore, an investment of $1,000 back in January would have grown to $2,410, representing a gain of $1,410, more than doubling your money. Indeed, Bitcoin has had a rollercoaster during this period, culminating in a record high of over $106,000 on December 16. This surge was buoyed by post-election optimism following Donald Trump’s victory. The price momentum has been fueled by projected friendly crypto regulations under the Trump administration, with recent gains stemming from speculation about the possible rollout of a strategic Bitcoin reserve in the United States. When Dimon made his remarks, the Securities and Exchange Commission ( SEC ) approved the first spot Bitcoin exchange-traded fund ( ETF ), contributing to Bitcoin’s first all-time high of the year, above $73,000. What next for Bitcoin As of press time, Bitcoin was trading at $104,038, having retracted from its record high of $106,000 earlier in the day. The short-term correction emerged amid skepticism regarding the impact of the upcoming Federal Reserve interest rate decision. There is anticipation that the institution will lower rates by 25 basis points, translating to a total easing of 100 basis points since September. However, markets have reacted with skepticism as concerns linger that after this rate cut, the Fed’s stance could potentially diminish hopes for further reductions and limit the bullish impact of the rate cut. Nevertheless, most market sentiment remains bullish on Bitcoin’s long-term outlook. Several entities project that the asset will likely double its valuation by 2025. As reported by Finbold, banking giant Standard Chartered projects that institutional capital inflows will push Bitcoin to $200,000 by the end of 2025, elevating its market cap to almost $4 trillion. Finally, in a December 13 note, investment management firm VanEck forecasted that the current bull market would likely extend into the first half of 2025, with Bitcoin potentially hitting $180,000. Featured image via Shutterstock The post How much you’d have if you invested $1,000 in Bitcoin when JPMorgan CEO called BTC ‘pet rock’ appeared first on Finbold .
MicroStrategy Purchases 15,350 Bitcoins for $1.5 Billion in Cash at an Average Price of $100,386 per Bitcoin in December 2024 ————— 💰Coin: Bitcoin ( $BTC ) $103,979.00 ————— NFA.
Fartcoin is up 22% in 24-hour trading and a whopping 164% on the week, leading to surge in interest among retail traders as Bitcoin hits a new ATH. Fartcoin price on Dec. 16, courtesy Coingecko. According to data from Coingecko, Fartcoin (FARTCOIN ) is currently trading at $0.78 and is up nearly 22% in 24 hour trading. Fartcoin is a cryptocurrency that combines internet culture with cryptocurrency, focusing on humor rather than traditional financial utility. It allows users to engage in activities like submitting fart-themed memes or jokes to earn tokens. A unique feature includes a “Gas Fee” system where each transaction triggers a digital fart sound, enhancing the meme-based experience. The coin also uses an AI framework called “Terminal of Truth” to generate creative content and engage its community. In contrast, the meme coin Goatseus Maximus ( GOAT ) is down 12.8% in 24 hour trading, with its market cap sinking below the $700 million threshold for the first time since November 2024. Goatseus Maximus price on Dec. 16, courtesy Coingecko. Both Fartcoin and Goat derive from internet meme culture, tapping into the humor and virality that memes can bring to the crypto space. Fartcoin, as the name suggests, likely plays on the juvenile humor of bodily functions, while GOAT is inspired by the infamous Goatse meme, albeit in a more abstract, AI-driven context. You might also like: Crypto scammers hijack Truth Terminal founder’s X account The promotion or creation of both tokens has been influenced by AI. GOAT was significantly promoted by an AI chatbot named Truth Terminal , which has become a quirky influencer in its own right. Similarly, posts on X suggest that AI bots or algorithms might be playing a role in the trading patterns of Fartcoin, although specifics on this are less clear. Other top meme coins by market cap include Doge ( DOGE ), Shiba Inu ( SHIB ) and Pepe ( PEPE ), with many of them riding the wave of Bitcoin’s surge, which hit a new ATH on Dec. 16 of $106,382. Read more: Canadian rapper Drake’s X account hacked to promote fake meme coin
Fartcoin is up 22% in 24-hour trading and a whopping 164% on the week, leading to surge in interest among retail traders as Bitcoin hits a new ATH. According to data from Coingecko, Fartcoin (FARTCOIN) is currently trading at $0.78…
MicroStrategy’s recent Bitcoin acquisition underscores the strategic pivot of corporate entities towards cryptocurrency as a long-term asset. This latest buy marks a significant escalation in MicroStrategy’s Bitcoin holdings as it
MicroStrategy expands Bitcoin holdings to 439,000 BTC through a recent purchase. The company's total Bitcoin investment now stands at $27.1 billion. Continue Reading: MicroStrategy Continues to Increase Its Bitcoin Holdings The post MicroStrategy Continues to Increase Its Bitcoin Holdings appeared first on COINTURK NEWS .