The post Bitcoin Prediction Market Signals $2.5 Trillion Market Cap by January 1st appeared first on Coinpedia Fintech News The Bitcoin market has seen a surge of nearly 8.0% in the last seven days. Right now, the market is slowly inching towards the milestone of $100K. Many Bitcoin enthusiasts believe that the market could cross the 100K range within a few days. Meanwhile, prediction markets like Kalshi share an even higher expectation. Here is …
The post Crypto News Today (Nov 23, 2024): Bitcoin Dominance Grows | Stellar Leads Gainers appeared first on Coinpedia Fintech News The global cryptocurrency market has increased, reflecting a 1.37% increase in the last 24 hours, bringing the total market cap to $3.34 trillion. Despite a dip in 24-hour trading volume, now at $222.84 billion (-9.15%), the Fear & Greed Index surged to 87, indicating extreme greed among investors. The cryptocurrency market has registered a 1.37% …
Numerous larger-cap alts have charted mind-blowing increases over the past 24 hours.
Bitcoin surges, but five emerging cryptos are gaining attention for their potential to outperform and deliver massive returns. #partnercontent
Bitcoin surges, but five emerging cryptos are gaining attention for their potential to outperform and deliver massive returns. #partnercontent
The ongoing Bitcoin bull market has sparked renewed interest in on-chain metrics to fully understand the bullish trend behind the scenes. Earlier today, Avocado Onchain, a CryptoQuant analyst, shared his perspective on Bitcoin’s market performance, focusing on the widely-used Market Value to Realized Value (MVRV) ratio. This indicator is often used to assess Bitcoin’s valuation about its realized cap, which represents the aggregated value of all Bitcoin based on its last movement price. Related Reading: Bitcoin Hits S2F Threshold: Should You Hold Tight Or Take Profits? What Bitcoin MVRV Metric Currently Signals According to Avocado Onchain, the MVRV ratio provides key insights into market cycles. Historically, when the MVRV ratio dips below 1, it signals a market bottom, while values above 3.7 have coincided with potential market tops. As Bitcoin approaches new all-time highs, the MVRV ratio’s behavior suggests a shift in market sentiment from skepticism to optimism. This raises critical questions about how investors should interpret these metrics during a bull cycle. The MVRV ratio, calculated by dividing Bitcoin’s market cap by its realized cap, offers insights into whether the asset is undervalued or overvalued relative to its historical averages. Avocado Onchain emphasized that the ratio might not necessarily reach 3.7 in this cycle, as seen in prior bull markets, but could still signal overvaluation at lower levels. He noted that the ratio’s peaks and troughs have shown a narrowing trend, with higher lows and lower highs. MVRV Historical Patterns Drawing from historical patterns, the CryptoQuant analyst noted: In past cycles, detailed analysis of historical charts shows that in 2017, the MVRV ratio first reached 3.7, but Bitcoin’s price didn’t peak until six months later. Similarly, in 2021, the peak followed about three months after the ratio hit 3.7. Avocado Onchain suggested that while the MVRV ratio signals “overvaluation,” it does not guarantee an imminent price peak. Instead, the ratio often lingers around the overvaluation range, reflecting ongoing bullish sentiment with price fluctuations. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? To mitigate risks, Avocado Onchain advises against relying solely on the MVRV ratio for investment decisions. He advocates for a gradual selling strategy as the ratio rises, allowing investors to balance potential gains with reduced exposure to market corrections. The analyst particularly concluded, stating: Asset prices often enter phases of extreme overvaluation that cannot be fully explained by numerical data alone. During a bull market, it’s essential to use not only on-chain metrics but also factors like investor sentiment, macroeconomic trends, and government policies to develop a well-rounded. Featured image created with DALL-E, Chart from TradingView
Prominent cryptocurrency analyst CrediBULL Crypto has shared an optimistic outlook for XRP, predicting it may surpass expectations and establish new all-time highs (ATH) faster than anticipated. In a tweet accompanied by a detailed price chart, the analyst emphasized XRP’s potential to outpace both Bitcoin (BTC) and Ethereum (ETH) in terms of price growth from its The post XRP Is Probably Going to Make New Price All-Time High Quicker appeared first on Times Tabloid .
Ethereum Spot ETF Inflows reached $91.2M on Nov 22, marking the first net inflow in 6 days, while BlackRock ETF ETHA reported a $99.67M single-day inflow. Read original article on coincu.com
The post XRP Jumps 15%, Bitcoin at $98K: Big Moves Ahead? appeared first on Coinpedia Fintech News The crypto world is buzzing, and Bitcoin’s holding strong at $98,000 is turning heads. While some coins are shooting up, others seem to be cooling off. What’s driving this? Let’s take a closer look at what’s happening in the market right now. Bitcoin Stays Firm at $98K Bitcoin is the king, and it’s showing why. …
DOGE is now just 37% away from a new all-time high.