The executive chairman and co-founder of enterprise software firm MicroStrategy, Michael Saylor, believes Bitcoin (BTC) is not yet done rallying. In a new CNBC interview, Saylor says Bitcoin is heading to a six-figure price over the coming days and weeks. “I don’t think it’s going to $60,000, it’s not going to $30,000. I think it’s The post $100,000 Bitcoin Incoming, According to MicroStrategy Co-Founder Michael Saylor – Here’s His Timeline appeared first on The Daily Hodl .
On Friday, after a tough Thursday of losses, the 12 spot bitcoin exchange-traded funds (ETFs) faced another dip. Similarly, the nine spot bitcoin ETFs didn’t fare any better, wrapping up the day in the red. Bitcoin and Ether ETFs—Fidelity, Grayscale, Valkyrie, Bitwise, Ark Invest, and Vaneck Hit With $430M Outflows On Nov. 15, U.S. spot
The price of XRP gained more than 11% in half an hour and then a large sell order was placed on the spot market, causing the coin to drop by 10% in 2 seconds. Details are coming… *This is not investment advice. Continue Reading: JUST IN: What’s Happening in XRP Price? Big Pump Followed by Sudden Dump
Screven County, GA made history on Nov. 5, 2024 when it became the first county in the U.S. to use the Bitcoin blockchain to safeguard the results of its elections.
Ripple’s XRP has exploded by more than 30% in the past 25 hours alone.
Recent trends in cryptocurrency highlight how institutional investors must step in to offset the selling pressure exerted by miners to capitalize on value zones. Miners have been offloading Bitcoin (BTC)
Analyzing Bitcoin's current market dynamics to uncover what’s driving the price.
The Pentagon has invested hundreds of millions into AI. The number is expected to grow in 2025 as it aims to reshape its defense strategy.
Institutional investors must step in to capitalize on value zones, offsetting miner selling pressure.
According to the latest on-chain data, the Bitcoin Network Value to Transactions (NVT) Golden Cross has fallen into a crucial region. What could this mean for the price of the premier cryptocurrency? What Does The Falling NVT Golden Cross Mean For Price? In a recent Quicktake post on the CryptoQuant platform, an analyst with the pseudonym Burakkesmeci revealed that the price of Bitcoin might have reached a “local bottom.” This exciting prognosis is based on the latest movement by the “NVT Golden Cross” metric. For context, the “Network Value to Transactions” ratio is an on-chain indicator that estimates the difference between the Bitcoin market capitalization and transaction volume. Typically, a high NVT value signals that an asset’s price is high compared to the network’s transaction volume, suggesting that the coin is overvalued. Related Reading: BNB Price Poised for Takeoff: Will It Be The Next to Rally? Conversely, when the value of the NVT metric is low, it implies that the coin’s market value is small relative to the transaction volume. Usually, this indicates that the asset is undervalued and its price could still have room for upside movement. Now, the Golden Cross indicator is a modified iteration of the NVT ratio, and it helps to mark gradual buy and sell zones in short-term trends. According to Burakkesmeci explained that when the NVT GC exceeds 2.2 (the red zone), it means that the price in a short-term trend is overheating (and the formation of a potential local top). On the other hand, the NVT Golden Cross dipping below -1.6 suggests that the price decline is wearing out, signaling a potential bottom. Burakkesmeci noted that these local tops and bottoms are regions rather than just precise levels. As shown in the chart above, the NVT Golden Cross has crossed beneath -1.6 and is currently around -3.3, suggesting that the Bitcoin price is at a local bottom. According to the CryptoQuant analyst, this could represent a “gradual buying opportunity” for investors looking to get into the market. Bitcoin Market In Extreme Greed Investors will want to proceed with caution especially as the Bitcoin market seems to be overheating in the long term. According to another CryptoQuant analyst, the Fear & Greed Index has flagged extreme greed for the premier cryptocurrency. Typically, when the Fear & Greed Index moves toward one end, there is a potential for market reversal depending on the sentiment. In this case, where the market is in extreme greed, the Bitcoin price may be about to witness a correction. Related Reading: XRP Price Rockets Upward: Bulls Poised for More Gains As of this writing, the price of BTC sits just beneath $91,000, reflecting a 3% increase in the past day. According to CoinGecko data, the market leader is up by an impressive 19% in the last seven days. Featured image from iStock, chart from TradingView