Bitcoin, which started the month on a negative note, has begun to regain some positive momentum and is up by 1.66% in the past 24 hours. This recovery comes amid renewed optimism in the crypto space, as traders and investors remain hopeful for a solid finish to the year. In a recent post on social media platform X, popular crypto analyst Inmortal revealed Bitcoin is still on its way to creating a new all-time high very soon. The only thing the bulls need to do is to ensure a break above the $64,000 price tag. Related Reading: Market Signals Hint At Bitcoin’s Potential Fall To $52,000—Analyst Bitcoin New All-Time High Coming Soon? The general consensus is that Bitcoin is going bullish in October, although different analysts have varying outlooks as to how this will happen. Taking to his social media account, Inmortal noted that the only prerequisite for a new Bitcoin all-time high is for the price to break above $64,000. According to an accompanying Bitcoin/TetherUS chart, this price level is situated just above the October monthly open. This means a sustained break above $64,000 would nonetheless translate to a green monthly close in October. Breakout above 64k = New ATH$BTC pic.twitter.com/mUvDN5sTyi — Inmortal (@inmortalcrypto) October 4, 2024 Interestingly, Inmortal had noted in an earlier X post that Bitcoin’s drop from $66,000 on September to $60,000 on October 2nd feels like the flagship digital asset has reached a local bottom. This is because Bitcoin seemed to retest this level three times before eventually rebounding upwards. However, he did clarify that this is only based on a hunch because there is no market structure break or confirmation yet. Interestingly, this local bottom sentiment is supported by analysis from a CryptoQuant analyst known as “caueconomy.” Inmortal further emphasized that he is currently only interested in taking long positions on Bitcoin, and he has identified two specific entry points for these trades. The first opportunity would arise if Bitcoin retests the $60,000 low, providing a potential buying window at a key support level. The second entry point, according to his analysis, would be triggered by a breakout above the $63,000 price level. What’s Next For Bitcoin? At the time of writing, Bitcoin is trading at $62,200 and has already gained 3.5% from the October 3 low. However, the flagship cryptocurrency is still down by 5.7% in seven days and there remains the possibility of a break to the downside in the short term. Related Reading: Injective (INJ) Down 20% As Market Retracement Forces Sell-Off Another popular crypto analyst known pseudonymously as Kaleo suggests that there may be another retest of lower levels before Bitcoin resumes its upward trajectory. Specifically, he anticipates that Bitcoin could dip to around the $57,000 to $58,000 range, testing support in that area before ultimately reversing course and going higher for the rest of the month of October and after the US election in early November. Featured image from CNBC, chart from TradingView
Inflationary ETH and its performance against Bitcoin challenge the idea that Ethereum is money.
A Saudi billionaire, who turned $1M into $500M with Solana, drives FOMO in ETFSwap presale, eyeing 200x returns by 2025 #sponsoredcontent
A Saudi billionaire, who turned $1M into $500M with Solana, drives FOMO in ETFSwap presale, eyeing 200x returns by 2025 #sponsoredcontent
Economist Peter Schiff has warned that restoring a real economy requires letting the “phony economy” collapse, which would result in significant financial losses for many. However, he emphasized that the alternative is worse, as it would lead to the devaluation of money itself. Schiff criticized the government and Federal Reserve policies, particularly following the 2008
Trump Ends SEC could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Trump Ends SEC (TRUMESEC), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because TRUMESEC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Trump Ends SEC can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early
The Ethereum network faces increasing pressure to enhance transaction efficiencies, specifically through the implementation of zero-knowledge proofs. Recent upgrades, including EIP-4844, have reduced costs for Layer 2 solutions, yet challenges
A massive fund designed to help families save money for college is largely untapped, according to a new report. California’s taxpayer-funded program CalKIDS has allocated hundreds of millions of dollars in college savings funds that are untouched and available, reports the ABC-affiliated news station KXTV. The fund offers at least $175 to Californians born after July The post $621,000,000 Available and Untapped in Massive, Little-Known State Fund for Families: Report appeared first on The Daily Hodl .
The layer-1 blockchain MultiversX (EGLD) continues to lead the digital asset gaming sector in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes in a new post on the social media platform X that MultiversX, formerly known as Elrond, registered 264.9 notable GitHub events in the past 30 days. MultiversX is The post MultiversX (EGLD) Continues To Lead All Crypto Gaming Projects in Level of Development Activity: Santiment appeared first on The Daily Hodl .
BingX, Penpie, and Indodax were the top targets in September, losing about $92 million worth of crypto between them.