The recent dip in Bitcoin (BTC) might be a temporary hiccup, according to Lark Davis, a popular crypto analyst. Davis is calling for a significant upswing in Bitcoin’s value in the coming weeks, with a target of $90,000 by year’s end. This optimistic outlook comes amidst a wave of optimism surrounding institutional investment and the potential arrival of Bitcoin exchange-traded funds (ETFs). Related Reading: Ethereum DApps On Fire: Volume Soars Over 90% — Good For ETH Price? Institutional Investors Set To Supercharge The Market Davis believes a surge of institutional money is poised to enter the crypto market, acting as a major catalyst for the predicted rally. He points to Standard Chartered Bank’s projection of Bitcoin reaching a staggering $100,000 by August as a sign of growing institutional confidence. While he offers a slightly more conservative prediction of $90,000, his focus lies on the long-term impact of this institutional influx. The arrival of Bitcoin ETFs is another factor fueling Davis’s bullish sentiment. These investment vehicles would allow traditional investors to gain exposure to Bitcoin without the complexities of directly acquiring and storing the cryptocurrency. Davis argues that the ease of access offered by ETFs could attract a significant amount of new capital, further propelling Bitcoin’s price upwards. Beyond Bitcoin: A Banner Year For Altcoins? Davis’s bullish outlook extends beyond Bitcoin, encompassing a significant portion of the altcoin market. He anticipates a substantial influx of capital into Ethereum (ETH) on the heels of upcoming spot ETFs. Solana (SOL) is another coin on Davis’s radar, with its position as a leader in blockchain development and market momentum making it a strong contender for growth. Technical Hurdles Remain: Can The Bulls Break Through? While Davis’s predictions paint a rosy picture, technical indicators suggest there might be some resistance to overcome before the party starts. The recent price rejection at the $63,956 level and bearish signals from technical indicators like the Relative Strength Index (RSI) suggest there could be some short-term headwinds. Related Reading: Bitcoin Examined: These Critical Points Are ‘Very Bad’ For BTC, Analyst Says However, Davis remains optimistic. If Bitcoin can overcome the $72,000 resistance level, a Q4 bull run could be triggered, potentially sending shockwaves through the entire crypto market. A Climb Or A Cliffhanger? Meanwhile, NewsBTC’s analysis of Glassnode’s data reveals an increase in BTC’s new addresses, potentially indicating a rise in user interest. For the bulls to charge forward, a daily close above the $63,950 resistance level is crucial. This could trigger a 5% rise and a retest of the $67,140 weekly resistance. If momentum indicators like the RSI and Awesome Oscillator turn bullish, an additional 6% rally to $71,200, the weekly resistance, could be on the cards. However, a drop below $58,300 and a formation of a lower low could signal persisting bearish sentiment, potentially leading to a 3% decline and a revisit of the May low of $56,520. Featured image from Getty Images, chart from TradingView
As Ethereum’s price continues to trend lower, investors are wondering whether the bull market is over. Yet, there is still a key support level that can provide the staging grounds for a recovery. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been trending lower inside a large descending channel
Tron (TRX) founder Justin Sun has made a significant announcement regarding Bitcoin (BTC). Sun expressed his readiness to negotiate with the German government to acquire their Bitcoin holdings off-market. “To minimize the impact on the market, I am prepared to buy all BTC from the German government off-market,” said Sun. Justin Sun proposes to buy
The post Dash Announces Genesis Release of Evolution Platform: Revolutionizing Decentralized Payments and Applications appeared first on Coinpedia Fintech News Dash, the leading cryptocurrency focused on everyday payments, is excited to announce the highly anticipated release of its Evolution platform, set to revolutionize the way people use and interact with cryptocurrencies. The Genesis release is scheduled for July 29th and marks a significant milestone in Dash’s mission to make cryptocurrency accessible and user-friendly enough to …
The Indian crypto market, once a land of opportunity, is experiencing a regulatory frost. With authorities tightening their grip, major crypto exchanges are scrambling to stay afloat, facing restricted services, hefty fines, and even exits. Related Reading: American Entrepreneur Anthony Pompliano Advises Investors To Use Bitcoin Dips For Buying Failing The KYC Test Global giant
Bitcoin has recently pulled back to a lower support zone. Historical analyses indicate pullbacks often precede strong upward movements. Continue Reading: Analyst Highlights Bitcoin’s Potential for Significant Upward Movement
Today, three wallets associated with Mt. Gox executed minimal Bitcoin transactions. The crypto exchange Mt. Gox famously lost approximately 950,000 Bitcoins in a 2011 hack, with around 140,000 recovered over the years. Mt. Gox’s bankruptcy trustee plans to commence Bitcoin repayments to creditors this month. The long-awaited disbursement of Mt. Gox’s Bitcoins is finally starting,
Tron founder Justin Sun has publicly offered to negotiate with the German government to purchase their entire Bitcoin holdings off-market. This proposal comes in response to Germany’s recent large-scale Bitcoin sell-off. I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market. — …
The post Solana Meme Coin Pandiana’s (PNDA) Presale Goes Live Today appeared first on Coinpedia Fintech News Solana’s newest meme coin Padiana (PNDA) goes live in presale to unlock new opportunities for crypto enthusiasts, traders, and liquidity providers. The token enters with a balanced and democratic tokenomic design and several utility functions. The anticipated launch is all set today, July 4, 2024, at 4:00 p.m. (UTC). Pandiana’s presale aims to secure 10,000 …
Amid the bitcoin price decline and the German government transferring millions of dollars worth of BTC, Tron founder Justin Sun announced on X that he is prepared to purchase the remaining BTC from the German government. “I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the