Bitcoin's Bullish Momentum Continues: Projected Surge to $102,500 in First Week of December 2024.
🔍 Trend Projection:
Last Known Price: $96,626.26
Forecast for the Next 7 Days:
Expected Price Range: $98,000 - $102,500
Trend: Slightly Positive (Bullish)
📊 Statistical Key Points:
Slope Coefficient: Positive (0.0023)
R-squared Value: 0.75 (Strong Trend Correlation)
Significance Level (p-value): < 0.05 (Statistically Significant)
💡 Investor Recommendations:
Buy Zone: $96,500 - $98,000
Sell Zone: Above $102,000
Stop Loss: Below $95,000
Additional Insights:
Strong Upward Dynamics Observed
Probability of Further Price Increase: ~72%
Medium-Term Trend Remains Positive
#btc #bitcoin #invest #money #trade
Ripple under Pressure: Large Investors Sell Off XRP 😬
Large investors have recently sold massive amounts of XRP. These sell-offs have significantly pushed the price down.
https://m.primal.net/KRAh.webp
The crypto market is currently experiencing turbulence, and XRP (XRP), the native cryptocurrency of the Ripple network, is no exception. ⚠️
On Monday, August 26th, the XRP price dropped for the second time in a row, breaking through the crucial $0.60 mark. The price decline is primarily attributed to the sale of large amounts by whales, i.e., major investors with substantial holdings. 🐋 These sales increase the pressure on the market and have led to a noticeable correction in the XRP price. 📉
🐋 Whale Sales Increase Pressure Data from the analysis company Santiment shows that investors holding over 100 million XRP sold around 140 million of these tokens within a week. 😱
Such massive sell-offs by large investors often trigger a chain reaction that drives the price of a cryptocurrency further down. The influence of whales on the market is enormous, and their decisions directly impact the price. 🌀 Recently, Ripple announced initial tests with its own stablecoin. However, this had not yet had a direct impact on the cryptocurrency's price.
While the whales are reducing their holdings, smaller investors seem to be taking the opportunity to buy up XRP. 🛍️ These purchases by retail investors may have slightly eased the selling pressure, but they couldn't stop the current downward trend. 📉 An analysis of the distribution of XRP holdings shows that the whale sales have been partially offset by an increase in holdings among smaller investors. 📊
#xrp #crypto #invest #altcoins
🧨 BitnewsToday Crypto Analysis:
Investor Summary: Bitcoin Price Analysis and 7-Day Forecast (July 31 - August 6, 2024)
https://m.primal.net/Jjtn.webp
Market Overview:
Bitcoin has shown significant volatility throughout July 2024, with prices ranging from a low of $53,717 to a high of $69,987. The month ended with a closing price of $65,616 on July 31, 2024.
Statistical Analysis:
Mean price: $62,947
Median price: $63,974
Standard deviation: $3,892
Volatility (coefficient of variation): 6.18%
Time Series Analysis:
The ARIMA model and linear regression analysis suggest a slightly bullish trend for the next 7 days, with potential price targets as follows:
August 1, 2024: $66,123
August 2, 2024: $66,584
August 3, 2024: $67,012
August 4, 2024: $67,405
August 5, 2024: $67,768
August 6, 2024: $68,102
August 7, 2024: $68,412
☀️ Trend Analysis:
The overall trend indicates a moderate upward movement, with an average daily increase of approximately 0.7% over the next week.
Investor Recommendations:
Entry Point: Consider entering the market at or below $65,500, which represents a slight dip from the current price level.
Risk Management: Set stop-loss orders around $63,000 to protect against potential downside risks.
Target Prices: Short-term traders may consider taking profits at $68,000-$69,000 range, while long-term investors might hold for potential higher gains.
Volatility Awareness: Be prepared for daily price swings of up to 3-4% based on historical volatility.
Market Sentiment: Monitor global economic news and cryptocurrency regulations, as these factors can significantly impact Bitcoin prices.
Diversification: While Bitcoin shows a positive trend, consider diversifying your cryptocurrency portfolio to mitigate risks.
Technical Indicators: Watch for support levels around $64,000 and resistance at $70,000 based on recent price action.
Conclusion:
The analysis suggests a cautiously optimistic outlook for Bitcoin in the short term. However, investors should remain vigilant and adapt their strategies to changing market conditions. Always conduct thorough research and consider your risk tolerance before making investment decisions.
#bitcoin #crypto #invest #analysis #trend #btc #money #bitnewstoday
In just 2 hours: Mt. Gox records outflows of $3.2 billion in Bitcoin (BTC) 🚨💸
https://m.primal.net/JcHB.webp
Mt. Gox has transferred over 47,500 BTC to unknown addresses, continuing the repayments. On July 23, Mt. Gox once again shifted funds, transferring over 47,500 Bitcoin worth almost $3.2 billion to two unknown addresses.
According to Arkham Intelligence, Mt. Gox holds 90,344 Bitcoin (BTC) valued at $6.02 billion. The current holdings are approximately 42,744 BTC worth $2.85 billion.
Following the insolvency declaration of the exchange on July 5, plans for an "immediate" repayment to creditors were announced, which are apparently already in full swing. 🔄💼
Preparations for Bitstamp Repayments
On July 22, Mt. Gox began preparing to repay creditors via Bitstamp.
According to Arkham Intelligence, Mt. Gox addresses have deposited one US dollar to four different Bitstamp deposit addresses. "Bitstamp is one of five exchanges working with the Mt. Gox trustee." 💰🔗
Although financial analyst Jacob King speculated in an X-Post on July 4 that 99 percent of creditors would "immediately" sell their coins if they received them, a Reddit survey suggests otherwise.
Over $12 billion
With the recent $3.2 billion in BTC from the Mt. Gox address, more than $12 billion has been paid out to creditors since July 16.
On July 16, the exchange recorded outflows of more than 140,000 BTC. This is a significant development after two weeks of inactivity. 📉🔍
Will the new British government sell its 61,245 Bitcoin (BTC)? 💷💼🤔
https://m.primal.net/JYXE.webp
The Labour Party is once again leading the government in the UK, raising the question of whether they will follow Germany's example regarding Bitcoin. The transition from a Conservative-led government to a Labour government under Prime Minister Keir Starmer has sparked speculation about what will happen to the country's Bitcoin holdings.
As of July 19, according to crypto data service Arkham, the British government held around 61,245 Bitcoin 🪙 valued at over $4 billion. The newly appointed British Finance Minister Rachel Reeves now has new discretion over the handling of these crypto funds, most of which were seized in a money laundering case against hotel employee Jian Wen.
Despite some bureaucratic hurdles, Reeves might take the opportunity to liquidate the Bitcoin holdings as part of Labour's plans to promote economic stability and growth. A political statement read by King Charles III on July 17 indicated that Labour would prioritize the construction of affordable housing and the improvement of the national railway system. 🏡🚆
With over 61,000 BTC, the United Kingdom holds one of the largest Bitcoin reserves among governments worldwide, second only to the United States. The German government recently liquidated 49,858 BTC in multiple transactions in June and July, raising around $2.8 billion. It remains unclear what Germany intends to do with the funds.
The current rapidly fluctuating developments in the crypto market could impact when Reeves considers a sale, if at all. Analysts predict that the lead-up to the US presidential elections might favor prices, but releases of previously frozen Bitcoin from the former crypto exchange Mt. Gox could also cause the Bitcoin price to fall.
#Bitcoin #Crypto #UK #LabourParty #Economy #KeirStarmer #Finance #BTC #Blockchain
BR can influence the Bitcoin network through their holdings in various ways, similar to how paper gold can manipulate the gold price. 📊💡
Comparison with Paper Gold:
Market Stability and Liquidity:
Paper Gold: Large amounts of paper gold ETFs can flood the market and influence the physical gold price without any actual physical gold changing hands.
Bitcoin: If BR holds large amounts of Bitcoin, they can impact market stability and liquidity. A sudden sale (dumping) could flood the market and drastically lower the price.
Market Manipulation:
Paper Gold: Paper gold can be used to artificially manipulate the market by distorting the supply and demand balance. ⚖️🔄
Bitcoin: BR could use similar tactics by strategically moving their holdings in the market to create or control price fluctuations. 🔄📈
Impact on Trust:
Paper Gold: Investor trust can be undermined by the uncertainty about the actual amount of physical gold represented by paper gold. 🤔🔍
Bitcoin: A massive sell-off by BR could undermine investor confidence in the stability and future of the Bitcoin network, similar to how mistrust in the backing of paper gold can affect the gold market. 📉🤔
Long-term Effects:
Paper Gold: In the long run, manipulation through paper gold can lead to a distortion of the true value of physical gold. ⏳📉
Bitcoin: Similarly, BR's control over large Bitcoin holdings and their potential sale could have long-term effects on the perception and value of Bitcoin. ⏳📉
Through these mechanisms, BR can exert significant influence over the Bitcoin network, much like the manipulation of the gold price through paper gold.
How BlackRock's Dominance Could Become Dangerous for Bitcoin 🚨
BlackRock manages over 316,000 BTC with its Bitcoin ETF. The dominance of this U.S. financial giant is steadily increasing. Is this concentration a threat to Bitcoin? 🤔 Just a few years ago, BlackRock CEO Larry Fink was a declared Bitcoin skeptic.
https://m.primal.net/JTmZ.webp
However, the man at the helm of the world's largest asset manager has changed his mind. Once regarding Bitcoin merely as a tool for money laundering, he now views the cryptocurrency as "digital gold" and refers to it as a "safe haven" 🛡️.
The company’s own iShares Bitcoin Trust (IBIT) now controls over 318,000 BTC, leaving all other Bitcoin ETF competitors far behind. BlackRock's market share continues to rise and no one seems able to stop the U.S. financial behemoth. What does this concentration of economic power mean for Bitcoin?
This rising control brings several concerns. Firstly, the centralization of Bitcoin holdings contradicts the decentralized ethos originally championed by Bitcoin 🔄.
Such control by a single entity could lead to market manipulation, where the actions of one firm could significantly influence Bitcoin's price 📉.
Furthermore, BlackRock's position could also lead to regulatory scrutiny. Governments worldwide might perceive the concentration of Bitcoin under a corporate umbrella as a potential threat to fiscal policies or even financial stability 🌐.
This could prompt stricter regulations which might stifle the growth and innovation in the cryptocurrency sector 💼.
#bitcoin #hedgefond #crypto #invest #bitnewstoday
Bitnews Today Weekend Special 🎉
🧨 BitnewsToday Investment Tip:🫰
XRP: Bullish Recovery with Potential for Short-Term Gains - July 13 to July 27, 2024
https://m.primal.net/JOpC.webp
Investor Summary☀️
Sentiment Analysis Summary:
The sentiment for XRP appears to be cautiously optimistic. After experiencing a significant drop in early July, the price has shown strong signs of recovery in recent days. The sharp increase from July 11th to July 13th suggests renewed investor confidence, but caution is still warranted due to recent volatility.
Volatility Summary:
XRP has demonstrated moderate to high volatility over the analyzed period. The price has fluctuated between $0.3911 and $0.5191, representing a range of about 32.7%. This indicates that XRP is a relatively volatile asset, presenting both opportunities and risks for investors.
Long-term Investment:
For long-term investors, XRP presents a moderate-risk, high-potential opportunity. The cryptocurrency has shown resilience and ability to recover from price drops.
Entry price for long-term investment: $0.4882 (current price as of July 13, 2024)
Target exit price (3-6 months): $0.6500 (potential upside of 33.1%)
Short-term Investment:
For short-term traders, XRP offers opportunities due to its recent volatility and upward momentum. The current trend appears to be bullish in the short term, with potential for further gains in the coming days.
Entry price for short-term trade: $0.4800 - $0.4900 (wait for a small dip) Target exit price (7-14 days): $0.5200 - $0.5400 (potential upside of 6.1% - 12.5%) Stop-loss: $0.4600 (to limit potential losses)
Risk Management:
Due to XRP's volatility, implementing strict risk management strategies is crucial:
Use stop-loss orders to limit potential losses
Don't invest more than 2-3% of your portfolio in this asset
Consider dollar-cost averaging for long-term investments to mitigate the impact of volatility
Technical Analysis:
The 7-day linear regression analysis suggests a strong bullish trend in the short term. The ARIMA model predicts a potential continuation of the upward movement in the coming days, but with some fluctuations.
Support levels: $0.4700, $0.4500
Resistance levels: $0.5000, $0.5200
Market Sentiment:
The overall crypto market sentiment may significantly impact XRP's performance. Investors should stay informed about broader market trends and news that could affect the cryptocurrency space, particularly any developments related to Ripple and its ongoing legal matters.
Conclusion:
XRP presents a moderate-risk investment opportunity with the potential for significant returns in the short term. The current trend appears bullish, but investors should exercise caution due to the asset's recent volatility and the broader market conditions.
Projected daily prices for the next 7 days (based on ARIMA model):
July 14, 2024: $0.4950 (+1.38%)
July 15, 2024: $0.5020 (+1.41%)
July 16, 2024: $0.5080 (+1.20%)
July 17, 2024: $0.5130 (+0.98%)
July 18, 2024: $0.5170 (+0.78%)
July 19, 2024: $0.5200 (+0.58%)
July 20, 2024: $0.5220 (+0.38%)
Best entry point: Consider entering around $0.4800 - $0.4900 (July 13-14, 2024) for a short-term trade or long-term investment, as this appears to be a potential local support level based on the analysis.
#xrp #bitnewstoday #crypto #invest #money #zap #trading #bitcoin
BlackRock and Co. Await Approval of Ethereum ETFs
The entire crypto sector is currently waiting for the final approval of Ethereum Spot ETFs. For BlackRock, Fidelity, and Co., it's only a matter of time. The ETF issuers BlackRock, Fidelity, and Co. are awaiting the approval of their ETH exchange products by the US Securities and Exchange Commission (SEC).
As an unnamed issuer explained to The Block, they are waiting for a response from the authority. The next announcement from the SEC will be "extremely enlightening." After the authority, under the leadership of Gary Gensler, approved the 19b-4 applications for the submitted Ethereum ETFs, the S-1 applications must now be approved. However, the SEC does not have to adhere to a deadline.
"The SEC is continuing its review, and we seem to be getting closer to final approval," it continues. "We expect a final filing, but the timing is unclear."
According to Bloomberg analyst Eric Balchunas, the SEC could issue an approval as early as July 18. With a seven percent price increase in the past week, ETH is responding to the expected approval. At the time of writing, the second-largest cryptocurrency by market capitalization is trading at $3,081.
#invest #crypto #bitcoin #bitnewstoday
nostr:nprofile1qqsrd06xlzc25cycd5394r9l76ezg5ts2s6pehcywzudkkmtt2pgnyqpzamhxue69uhkyarr9e4kcetwv3sh5afwvdhk6tcpp4mhxue69uhkummn9ekx7mqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqyxxctt there's an article in bitcoin magazine talking about this.
thx ;-)
🧨 Bitnews.Today Airdrop of the Day:
Rivalz introduces an AI Intel Layer powering an ecosystem of modular AI-apps. It is a DePIN-based RollApp built on top of Dymension, using Celestia and Eigen.
Rivalz Network is running an incentivized testnet Galxe Quest campaign for its users. Visit their campaign page and complete easy social tasks to earn free points.
Step-by-Step Guide:
1. Visit the Rivalz Network Galxe quest page:
https://app.galxe.com/quest/RivalzNetwork/GCKr1tdwsQ
2. Log in with your social media account or wallet address.
3. Follow Rivalz on X:
4. Have a verified role in Rivalz Discord channel.
Ensure to complete these tasks from the quest page.
Complete other tasks to earn free points.
The points will be later converted to RIZ tokens.
🫰 Bitnews Today Crypto Investment Analysis:
EGLD (MultiversX) Cryptocurrency: Bullish Short-Term Trend with Potential Volatility - July 7 to July 21, 2024.
Investor Summary:
Sentiment Analysis Summary:
The sentiment for EGLD (MultiversX) appears to be cautiously optimistic. After experiencing a significant drop in mid-June, the price has shown signs of recovery in recent days. The sharp increase from July 4th to July 6th suggests renewed investor interest, but caution is warranted due to the asset's volatility.
Volatility Summary:
EGLD has demonstrated high volatility over the analyzed period. The price has fluctuated between $27.33 and $36.14, representing a range of about 32%. This indicates that EGLD is a moderately volatile asset, presenting both opportunities and risks for investors.
Long-term Investment:
For long-term investors, EGLD presents a moderate-risk, high-potential opportunity. The cryptocurrency has shown resilience and ability to recover from price drops.
Entry price for long-term investment: $33.60 (current price as of July 7, 2024)
Target exit price (3-6 months): $45.00 (potential upside of 33.9%)
Short-term Investment:
For short-term traders, EGLD offers opportunities due to its volatility. The current trend appears to be bullish in the short term, with potential for further gains in the coming days.
Entry price for short-term trade: $33.00 - $34.00 (wait for a small dip)
Target exit price (7-14 days): $38.00 - $40.00 (potential upside of 11.8% - 21.2%)
Stop-loss: $31.00 (to limit potential losses)
Risk Management:
Due to EGLD's volatility, implementing strict risk management strategies is crucial:
Use stop-loss orders to limit potential losses
Don't invest more than 2-3% of your portfolio in this asset
Consider dollar-cost averaging for long-term investments to mitigate the impact of volatility
Technical Analysis:
The 7-day linear regression analysis suggests a bullish trend in the short term. The ARIMA model predicts a potential continuation of the upward movement in the coming days, but with some fluctuations.
Support levels: $32.00, $30.00
Resistance levels: $36.00, $38.00
Market Sentiment:
The overall crypto market sentiment may significantly impact EGLD's performance. Investors should stay informed about broader market trends and news that could affect the cryptocurrency space.
Conclusion:
EGLD presents a moderate-risk investment opportunity with the potential for significant returns. The short-term trend appears bullish, but investors should exercise caution due to the asset's volatility.
Projected daily prices for the next 7 days (based on ARIMA model):
July 8, 2024: $34.20 (+1.76%)
July 9, 2024: $34.80 (+1.75%)
July 10, 2024: $35.30 (+1.44%)
July 11, 2024: $35.70 (+1.13%)
July 12, 2024: $36.00 (+0.84%)
July 13, 2024: $36.20 (+0.56%)
July 14, 2024: $36.30 (+0.28%)
Best entry point: Consider entering around $33.00 - $34.00 (July 7-8, 2024) for a short-term trade or long-term investment, as this appears to be a potential local bottom based on the analysis.
#bitcoin #crypto #invest #bitnewstoday #analysis #money #trading
PEPE NOW HAS HIS OWN BLOCKCHAIN!
Congrats! You're early to the party! Buy and Stake now during Presale to max out your rewards before the price skyrockets!
🫰 https://pepeunchained.com/en
#crypto #bitnewstoday #invest #blockchain #btc
Mt. Gox, BKA and Co.
Crypto Market Continues to Crash.....
https://m.primal.net/JIeq.webp
The sell-off in the crypto market continues. Bitcoin and Co. are trading deep in the red.
The sell-off in Bitcoin and Co. continues. Large parts of the market start today's trading day with a significant loss. The total market capitalization fell by 8.3 percent over the day.
Bitcoin lost almost 8 percent in value over the past 24 hours. On a weekly and monthly basis, the price decline is even more severe at 12 and 23.5 percent, respectively.
At the time of writing, BTC is trading at just under $54,330 - as low as it was last in February of this year.
The sell-off is most noticeable in the altcoin sector. The Ethereum price has to accept a minus of almost 11 percent.
The remaining ten most valuable cryptocurrencies all recorded a decline between 7 (Solana) and 15 percent (Cardano).
Among the top 100, TRON, MultiversX, and FET remain relatively stable - with price declines of 3.8 to 6 percent.
Even memecoins are not spared from the strong sell-off. The market capitalization of the sector fell by 23.3 percent. Especially the BASE memecoin Brett had to take a big hit. The market sentiment has significantly darkened. The Fear and Greed Index is currently at 29 points, indicating "Fear" 😨.
Due to the sharp price decline, over $580 million in long positions were liquidated, according to Coinglass. According to WhaleWire, this is the second-largest liquidation of capital in the crypto market ever - only the FTX sell-off was more severe.
The reason for the sell-off can be attributed to several factors.
Firstly, there are the payouts from Mt. Gox to affected parties. According to the blockchain service Arkham Intelligence, the insolvent Japanese crypto exchange recently transferred 47,229 Bitcoin ($2.7 billion) from a cold wallet.
The insolvency administrator had previously announced that the first payouts would start in July. Mt. Gox owes its creditors Bitcoin worth over $8 billion in total.
#bitcoin #crash #mtgox #bitnewstoday #crypto #trading #invest
Is Tether's USDT disappearing from Europe?
https://m.primal.net/JIUC.webp
There's turmoil in the crypto space. Tether, the issuer of the world's largest stablecoin, USDT, is under pressure in Europe. The reason: the recently enacted MiCA regulation by the European Union. The rules that Brussels prescribes for the stablecoin sector impose extensive transparency obligations on providers, especially regarding the disclosure of reserves. Obligations that apparently diminish Tether's licensing efforts. In the end, USDT could even disappear entirely from the EU, experts believe,
#crypto #bitnewstoday #invest #trading
"BitNews Today wishes all readers a beautiful good morning."
🎆🇺🇸 Happy 4th of July from BitNews Today! 🚀🎉
As we celebrate Independence Day with fireworks lighting up the night sky, let's also shine a light on the future of finance. 🌟 Today, amidst the classic scenes of picnics and parades, we're seeing an increasing number of Americans embracing digital currencies like Bitcoin. 💻💸
https://m.primal.net/JHsE.webp
Join us in marking this day of freedom by exploring how financial independence is evolving. Whether you're trading at a barbecue or just checking your investments while watching the fireworks, remember that innovation is our nation's backbone. 🍔📈
Happy Fourth! Keep your spirits high and your wallets secure. 🔒❤️
#4thOfJuly #Bitcoin #FinancialFreedom