Bitcoin’s recent surge to $70,000 highlights the profound connection between cryptocurrency prices and pivotal political events, particularly the upcoming U.S. presidential election. Historical data suggests that political uncertainty has often
The post 2024’s Best Crypto to Buy for Profit: What Experts Are Watching appeared first on Coinpedia Fintech News As Bitcoin faces a significant market pullback with over $200 million in long positions liquidated and a potential dip to $66,000, cryptocurrency enthusiasts are watching closely for the next best crypto to buy. Despite this volatility, demand for assets like Ethereum, Solana, and Cardano continues to thrive, signalling strong interest in diverse blockchain solutions. Each …
The worst case scenario for risk assets including cryptocurrencies would be a delayed or contested election where the result is unknown for weeks, one observer noted.
Bitcoin's dominance in the cryptocurrency market is increasing and the loss of blood in altcoins continues. Will altcoin season come? Continue Reading: Will the Big Altcoin Season Start After the US Elections? Analysts Share What They Expect
As Americans await poll results, analysts are already spotting signs of how Bitcoin traders are playing potential Trump or Harris wins.
Recent action has seen Bitcoin price retest the $67,000 price level. Particularly, the Bitcoin price declined by about 8.9% in seven days from $73,464 on October 29 to $66,895 on November 4, as many short-term traders exited their positions. At the same time, a few long-term holders also offloaded their Bitcoins, likely to lock in gains. According to technical analysis, the ongoing correction is absolutely normal and fine for Bitcoin. Particularly, technical analysis shows that the $100,000 price target for Bitcoin is well in play. Interestingly, this outlook is based on drawing parallels with the price history of gold. Analyst Reveals What The Gold Chart Says About The Bitcoin Price Bitcoin has long been referred to as the digital gold in terms of its use as a hedge against inflation. However, their respective price actions over the years point to more similarities than many investors realize. Related Reading: Shiba Inu’s Shibarium Sees Daily Transactions Surge To 4.68 Million, Will This Push SHIB’s Price Toward $0.00008? Crypto analyst Tony ‘The Bull’ Severino took to the social media platform X to share an intriguing trend he observed on the Bitcoin price chart to relay an optimistic perspective on the cryptocurrency’s long-term trajectory. Severino pointed out that Bitcoin’s price movements appear to be following a similar path to historical patterns seen in gold, which went through comparable price tops, price bottoms, breakouts, and retests. According to the price charts shared by Tony Severino, he highlighted notable similarities between Bitcoin’s price action on the 2-week candlestick timeframe with Gold on the 2-month candlestick timeframe. Particularly, Bitcoin’s price action has mirrored that of Gold in multiple instances. Therefore, the analyst compared to the current price breakout/retest in the Bitcoin price to that of a similar breakout/retest in Gold in 2023. Back in March 2023, gold went through a breakout and retest pattern, which set the stage for a prolonged rally over several months up until the time of writing. Severino believes Bitcoin could follow a similar trajectory for a multi-month rally. What’s Next For The BTC Price? According to Tony Severino’s analysis, the Bitcoin price correction is ending very soon and is set to go on a notable surge for the rest of the year. In terms of a timeline, he noted the creation of a new all-time high by the end of 2024 and a $100,000 price for Bitcoin in the first quarter of 2025. Related Reading: Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought Although the analyst’s projection is based off of Bitcoin’s correlation with Gold, the price target resonates with similar price predictions with other technical analyses. For instance, a CryptoQuant analyst known as CoinLupin highlighted a similar price timeline based on the Bitcoin MVRV (Market Value to Realized Value) ratio. Using this ratio, he predicted a price target range of $95,000 to $120,000. At the time of writing, Bitcoin is trading at $68,714 and is down by 3% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
The cryptocurrency market witnessed a sudden surge in buying pressure during the United States presidential election on Tuesday. The pioneer digital currency, Bitcoin, teased a bullish breakout of the $70,000 barrier, uplifting the recovery momentum in the altcoin market. Amid investors’ anticipation of a potential bull run, three Ethereum coins show promising potential for a The post 3 Ethereum Coins That Could 5X if ETH Hits $5,000 appeared first on CoinGape .
BitFuFu set an example for resilient mining, increasing its revenues in Q3, 2024 despite more competitive BTC production operations.
The recent investment by Michigan’s pension fund in Ethereum ETFs illustrates a significant shift in institutional attitudes towards digital assets. In light of this move, the overall sentiment toward ETH
MARA (NASDAQ: MARA) has released its unaudited Bitcoin production update for October 2024, reporting a total production of 717 Bitcoin, which represents a 2% increase compared to the previous month. The company’s energized hash rate increased by 14% to reach 40.2 EH/s, marking the highest production month since the Bitcoin halving event in April. Despite