Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

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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Russia Tries Using Crypto to Dodge Sanctions, Experts Doubt It

Russia is all set to test crypto for cross-border payments next week, in the hopes of avoiding international sanctions. But experts have a doubt that it will work. Blockchain’s traceability and risk of tough sanction could make it tough.

Russia’s new law is all set to allow crypto for international payments, but regular payments in the country are still on the ban. Only information that we are made aware with is that Russian central bank is in charge of this experiment. The other details are super private. And not much is known about how it is going to develop further.

Russia is aiming to get crypto to help them to get their billions of euros out that are currently frozen by countries like U.S.A, U.K., AND EU. Russia have been criticized with 16,500 sanctions since the invasion of Ukraine in 2022. So, they are hoping that crypto will help them get around those barriers.

Do you think Russia’s plan will work in their favor or against them?

Japan’s Metaplanet Teams Up with Ripple’s SBI for Bitcoin Boost

Metaplanet, aka Japan’s MicroStrategy, linked up with Ripple’s partner SBI VC Trade to supercharge Bitcoin trading, custody and management. This collab is giving metaplanet some huge advantage. It has access to SBI’s next level custody services and the option to use Bitcoin for financing.

This partnership could easily hype up Bitcoin in Japan more than ever. It shows hints of crazier collabs along the line. This link up could indicate big things ahead for both companies.

At the given time, BTC’c at $57,807 down by 0.60%. but the trading volume is up 77%. That’s a clear indication of it being talk of the town.

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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Bitcoin Rally Nearby As 18th Week After Halving Coincides With Fed Rate Cut

Bitcoin’s price has the potential to cross $100,000 mark in this 4th cycle. But the market always does the opposite of what the crowd thinks of.

Screenshot 2024 08 30 at 9.30.03 PM 1 Bitmala

What happened during previous halvings?

  • 2016: For 18 weeks, $BTC was volatile ranging from $670 to $470 (-31%)
  • 2020: For 18 weeks, $BTC was less volatile ranging from $9,500 to $8,500 (-11%)
  • 2024: For 18 weeks, $BTC is volatile ranging from $71,500 to $49,500 (-31%)

$BTC price actions are painful after 4th Halving Event (April, 2024) resembling with 2nd Halving Event (July, 2016). It was painful during Q3 of 2016 just like it is happening now. But the buyers of 2020 period will not understand this as they did not suffer like this.

Price of $BTC at halving is usually marked as lowest price of Bitcoin before mega rally. Will this be true this time?

We’re at 18th week after the 4th halving event. Fed meeting is happening just 3 weeks from today. And there is a high probability of the Fed cutting the rates. Rate cuts make money available in the market more easily. Even though the history of rate cuts shows bearish price action at the beginning, it eventually triggers the mega bull trends.

Bitcoin’s weekly stochastic RSI is sitting at 20 and has enough room for move towards 80. This movement can break 6-digit price for the first time for Bitcoin.

  • Momentum is signaling for $100k
  • Fed rate cut is signaling for $100k
  • History of PA is signaling for $100k

Do you think $BTC will be above $100,000 before 2025?

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