Sagun Seewa, Author at BitMala

Ethereum’s Bumpy Ride: What’s Next After Its Worst Month in 2 Years?

3rd September 2024, Wyoming.

The question that arises now is “What’s cooking after having the toughest month Ethereum?”. The traders and investors are eager to know what is coming. Following a sharp decline in August, the fifth largest crypto coins by market capitalization, is slowly coming back on track. Although, the upcoming events remain unclear.

Can Ethereum gain its foot back, or does the turbulence still lie? Recent setbacks in the Ethereum market have halted numerous issues such as unfavourable market performance, regulatory compliances. Likewise, the ongoing transition from Ethereum 2.0 is still a struggle.

Market analysts are keen on learning about key levels of support. If Ethereum is to rebound, then it needs to find support above the $1,600 mark. But if it goes down further it will continue to drop and this will be very bad for business.

However, many people still have confidence in its long-run growth on the right side of this cryptocurrency due to the advancement and development of Ethereum and its products.

So what now? The next few months will be critical in determining Ethereum’s direction.

Whether it will begin an upward trend or stay in a decline. Like all things crypto-based, the only thing you can be sure of is the fact that one can never be too sure.

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BNB Whales Eye BlockDAG’s: Skipping Kaspa for a 5500% ROI

3rd September 2024, Wyoming.

The talk of the town now, BNB whales makes a bold move, shifting their focus from Kaspa to BlockDAG.

What could be the possible reason? BlockDAG’s potential of 5500% ROI is already grabbing attention. Despite Kaspa’s popularity, BlockDAG’s innovative structure and scalability represent something bigger. These whales are golden tickets who wish to get the largest return on their investment.

BlockDAGs can handle massive transactions without any hint of draining. In general, the structure of BlockDAG makes it more prompt and secure than typical blockchains, so it will probably expand in the future. Kaspa could still exist as something, but BlockDAG is where smart shits go.

This is not just the latest trend of BNB whales but could be the discovery of the next massive crypto superstar BlockDAG. Ordinary users can benefit from the 5500% ROI potential who invested early.

Amid a fast-moving crypto environment where million-dollar gains and losses can be measured in minutes, BNB whales are putting their money on BlockDAG. And if they’re right, so the rest of the market will just move in the same direction too.

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Bitcoin’s Wild Ride: 12% Dip Before a 400-Day Rally?

2nd September 2024, Wyoming. Bitcoin is preparing something intense for few months, having analyzed various projections, which predict a 12% drop soon. But here’s the kicker: this dip might just be the preparation for the largest 400-day rally. Something that might see Bitcoin reaching even greater levels!

Newcomers are quite scared, while those who have been following it for a while are aware of it. Such dips have often been seen previous to large-scale ramping and this might be one such instance. Only if, the level remains around $25,000, Bitcoin remains or begins a series of higher highs from this price floor.

This potential 400-day rally isn’t based on a little blind optimism either. Experts refer to various technical indicators and on-chain trends. They analyse Bitcoin chart and believe it could be entering a long-term bullish phase. Macro factors could also possibly turn in favour of Bitcoin again in the next few months and therefore the coming months could be decisive.

However, it’s the same story with crypto where you have no for sure certainty of winning. This 12% decline could shake off the weak, but for those who are patient enough to buy the dip, this is the perfect time.

In the world of Bitcoin, it’s often the risk-takers who benefit the most. Check the charts—to start with, this may be the beginning of a great process!

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Ethereum Power Surge: Innovation and ETH’s Drive

Great news for Ethereum’s users! Ethereum has witnessed a vast growth number of research team members and expected ETF approvals.

To remain evolving, modernize, and improve its technology, it has to remain updated within the sphere. With the new wave of welcoming Ethereum 2.0, the growth of the Ethereum research team is crucial.

The real tea is that it could be a big thing as has it also created significant interest among institutional investors with the possible approval of Ethereum ETFs. We can imagine the boost of demand and stabilizing the market as traditional investors get easy access to Ethereum through ETFs.

Not only this, but it positions as one of the premier cryptos today! This has played a noteworthy role in the world of Decentralized Finance (DeFi).

Is it fruitful to gain long-term influence? Well, the answer is, it influences Ethereum’s market value and adoption as it gains more ground in the future!

We can say that it is a strategic move to prepare Ethereum for future achievements in terms of scaling and security. And, the approval of the ETF can dramatically affect Ethereum’s accessibility for investors and increase its demand.

Additionally, it can be stated that Ethereum’s expansion is fueled by research and development. ETF approval, which is set to strengthen Ethereum’s position as the market leader in cryptocurrency!!!

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Solana’s 20% Fall: What’s Next Now?

Well, Solana has been undergoing a downfall, and a 20% dump on the price made people on the crypto platform very alert. Now, the big question on everyone’s mind is: Will we stay at $110 support or will the tumble be harder?

So, what’s going on? Several factors are the reasons for Solana at the moment. And here, from general market concerns to network congestion Solana is facing serious pressures. Sadly, the long-term players got this dip and are sitting on the edge.

However, relying on a $110 support level is the only thing we can do! In that case, we might expect a bounce back if Solana could hold the line.

But what if it fails? This could result in fading confidence, which was once a popular asset of the year!

Still, there are crypto sphere enthusiasts who are bullish on Solana’s long-term prospects as it offers high transaction speeds and the ever-developing community.

However, in short, the market has focused its attention on that $110 level. Whether Solana starts to rise or decline can determine the future trend of the market for further months.

This is the reality of the crypto market! Anything can happen, so don’t look away. We expect Solana to soon launch a killer product as a game-changer!

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Bitcoin’s September Struggles: What to Expect Now?

September is quite a negative month for Bitcoin which draws negative trends and makes the charts red. But what does this mean for BTC this time around? Crypto investors, traders, and holders are buckled up for September as history shows that September spells pressure down for Bitcoin.

Then, why this announcer is called the September slump? It’s a combination of market sentiments and trends where traders anticipate volatility thus there are cases of sell-off and profit-taking.

Add in macroeconomic factors such as high interest rates, business deregulation and uncertainty will be on for a bumpy ride.

But it is important to say that it is not high time to part with Bitcoin yet. However, an up-close look at the performance of the BTC shows that it has great potential. Rather unpredictable, its dips are usually followed by a rebound for a quick hike to the larger trend.

Bulls are waiting for similar rebounds when September come as a preparation for the Q4 surge. The most important MA levels will be located around $25000 – any breakdown of this level is likely to cause serious problems, while its preservation may signal a change of trend.

Altogether, it can be stated that September certainly might be volatile, but the narrative of Bitcoin is far from the end. Whichever way you look at it, this month could well be the trajectory for the rest of 2024.

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Solana Faces Bearish Trend as Post-Sunpump Demand Declines

Solana (SOL) faces a bearish market as the cryptocurrency strives to recover from the impacts of the Sunpump event. Initially, Sunpump was expected to be a bullish catalyst. In the recent times, it has appeared to drive investors to sell SOL, creating another dip. The event denoted high volatility. It fails to keep the SOL price above the critical resistance level.

Market experts observe that after the post-Sunpump event, several traders have become cautious. This has created a gap that SOL prices continue to indicate that they are heading low. Investors are becoming anxious due to the instability in attaining the previous prices. This can cause uncertainty about its short-term prospects.

This has also shifted the overall market sentiment towards the asset. The investors are voicing their fears that the latest movement could dent confidence in Solana. However, it is important to recognize that from a long-term perspective, Solana has attractive fundamentals.

However, there are some analyst in the market regarding the Solana coin’s future. They believe that the coin has a chance of bouncing back as soon as the market comes out of its current grim phase.

For those who want to remain abreast of Solana’s market movement, the key is to watch out for future announcements. Additionally, they need to evaluate the risks and rewards of holding SOL during this volatile period.

Kaspa Surpasses MATIC: A Major Milestone in the Crypto Landscape

Kaspa (KAS) has now moved to third place, beating Polygon (MATIC) in terms of market capitalization. This has created a force to be reckoned with in the cryptocurrency market. Kaspa build on the blockDAG architecture owes the milestone. This renders Kaspa capable of handling a high number of transactions per second and highly scalable, in the blockchain industry.

Kaspa’s value increases while the ecosystem is developing, with the growing adoption and activity rate behind it. Due to the decentralised nature of the cryptocurrency and the improvement in technology, it has attracted more investors and developers. On this growth trajectory, the market is firmly behind Kaspa’s ability to solve some of the scalability and efficiency issues. The platform solves the problems the other blockchain networks have faced.

At the same time, other projects in the crypto space are also progressing with it. Cosmos (ATOM) has deployed its V19 upgrade to eventually improve connectivity and expand ability. Also, the whitelist event of Qubetics is growing more and more popular. One can see that the cryptocurrency market does not remain stagnant for days.

Thus, the further successful establishment of Kaspa within the list of leading cryptocurrencies will have significant implications for the blockchain market. These blockchain networks are competitive and the new success of Kaspa may lead to further advancements of the industry.

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Ethereum Faces Challenges as It Loses ‘Ultra Sound Money’ Status

ETH is facing a major challenges as it no longer fits the ultra sound money. The users were fascinated after the adoption of the Ethereum Improvement Proposal (EIP)-1559. The proposal also included a plan to burn a part of the transaction fees. This would help in the reduction of ETH supply thereby making it a deflationary asset. But today’s market trends have done this around turn.

The first issue regards the decrease on supply of Ethereum. It is no longer decreasing at the expected rate, thus causing doubt regarding its deflationary characteristics. This change is mainly caused by lower activity on-chain both in terms of transaction fees and Ether tokens being burned. The situation has sparked controversy among the prospective investors and analysts who have been keenly observing the supply chain of Ethereum.

Summing up the above concerns, Ethereum is in front of a potentially problematic technical situation. There is a “rectangle pattern” on the Ethereum’s price chart at the moment. This pattern implies that there may be some consolidation of the price. It might be fluctuating between a given range, which may be due to the uncertainty of the market. This means that if Ethereum fails to get past this level of resistance then the downside risk in the cryptocurrency truly on.

The changes in Ethereum and the disappearance of the “ultra sound money” status or the stagnation in attempts to climb key resistance levels signify shifts in the market. While Ethereum remains in the uncertain stage and tries to overcome all these challenges, the market observers pay much attention to the further developments in the sphere of cryptocurrencies.

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Ethereum’s $3,000 Price Breakout Likely Postponed to Q4 2024

So, the much-anticipated surge of Ethereum (ETH) to hit $3,000, is estimated to be delayed until the fourth quarter of 2024. Despite having consistent testing of key resistance, Ether experiences distinct challenges around the $2700 mark.

Crypto analyst, Poseidon emphasized that Ethereum has shown resilience. Will ETH take time some time to break the $3,000 threshold, likely until later in the year? The 50-day Exponential Moving Average (EMA) can be a critical factor in sustaining the current levels. Else, it might fall to $1,750!

Other analysts expect macroeconomic factors and general market sentiment to be the reasons for the delay! The broad market remains relatively conservative. The traders will be observing actions in the US Federal funds rate. Similarly, the economic signals across the world may also influence Ethereum.

However, investors must continue to be patient with Ethereum. Here, we expect the fundamental drivers of the Ethereum price to remain firm and positive due to further network upgrades. This will result in increasing usage cases. However, short-term oriented fluctuations together with $250-300 resistance levels may remain a barrier for Ether reaching $3,000 until Q4 of 2024.

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