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
As part of our strategy, we identified an overvaluation in XRP and decided to reduce our position too, anticipating market corrections. While these actions have indeed contributed to short-term volatility, we believe they align with long-term market stabilization. The shift in holdings to smaller investors highlights the dynamic nature of the market, providing new opportunities for those who can navigate the risks. As always, our focus remains on delivering value to our stakeholders through informed and strategic decisions
🧨 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
Wow, a truly accurate and detailed analysis, very professional. Keep it up, Bitnews Today!👍
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
BlackRock has the potential to significantly disrupt the local Bitcoin market, and I believe this will happen in the near future.
🧨 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
Finally, a new and very good analysis from the Bitnews Today team. Thank you.
Absolutely, the anticipation for Ethereum Spot ETFs is palpable. Vanguard also sees this as a pivotal moment for the crypto sector. Approval will open new avenues for investors and drive further innovation in the market. We're optimistic about the positive impact on ETH and the broader crypto landscape.
Wow.......How much further would the Bitcoin price drop if the remaining BTC were released onto the market?
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
down below 30k???
Analysts from Goldman Sachs and MIT: AI Needs a "Killer App" or the Bubble Will Burst 📉💥
https://m.primal.net/JFKq.webp
The analysts were divided on whether today's investments in AI will pay off in the next decade. Analysts from Goldman Sachs and MIT recently delved deeply into the market for generative artificial intelligence (AI) to determine its short- and long-term profitability for investors.
The core question was whether the current AI market represents an expanding bubble that will burst, or if it signifies the next stage for technology and industry.
Unfortunately, the answer is not straightforward, according to the report. The market differences that occur when a bubble is about to burst, like during the dot-com bubble implosion, and when a strong application makes a technology popular, like the invention of cryptocurrency by Satoshi Nakamoto and others, can be too subtle to recognize in time.
Is AI a Bubble? 💭
The report includes interviews with four economists from Goldman Sachs and an economics professor from MIT. Their forecasts are divided. Three Goldman Sachs economists predict that the AI killer app will arrive soon enough. However, the remaining Goldman Sachs economist and the MIT professor are more skeptical, especially in the short term.
MIT Professor Daron Acemoglu said:
"Given the focus and architecture of today’s generative AI technology, truly transformative changes will not occur quickly. And few, if any, are likely to happen within the next 10 years."
Will the AI Killer App Arrive? 🔍
The counterargument is that current investments and corporate spending are not as radical compared to previous technology market cycles.
It's unclear what exactly this killer app for AI will be. However, current advancements have convinced some analysts that the present growth can continue.
This is significant because analysts in the report predict that "tech giants and beyond will spend more than $1 trillion on AI investments in the coming years."
With such high investments, much of it in infrastructure, the products and services derived from these investments need to be strong enough to support and sustain current and future funding.
According to Kash Rangan, an analyst at Goldman Sachs, the outlook is positive despite the scale of current investments:
"Spending is certainly high in absolute dollar terms today. But this investment cycle appears more promising than previous ones."
Goldman Sachs U.S. Internet Equity Research Analyst Eric Sheridan expressed a similar view in the interview: "It is impossible to follow demonstrations of generative AI capabilities at company events or developer conferences without being excited about their long-term potential."
Tapping into this potential, however, might depend on whether generative AI will have its iPhone moment of mass adoption in the near future. 📱🚀
#ai #bitcoin #bitnewstoday #crypto #invest #money
As a hedge fund manager, I fully support the optimistic view presented in this analysis of the AI market. The potential of generative AI is immense, and we are witnessing only the beginning of its transformative impact. The comparison to the dot-com bubble is understandable, but the current advancements and investments in AI infrastructure suggest a more sustainable growth trajectory.
With over $1 trillion expected to be invested in AI over the coming years, the commitment from tech giants and other industries is clear. This level of investment, coupled with ongoing advancements, reinforces my confidence that we are on the brink of significant breakthroughs. The "killer app" for AI may not be clear yet, but history has shown that such innovations often emerge unexpectedly. The positive sentiments from Goldman Sachs analysts and the recognition of AI's long-term potential at industry events highlight the strong foundation being built.
In summary, while caution is always prudent, the future of AI looks promising, and the current investment cycle is poised to deliver substantial returns
Bitcoin price will "no longer rise dramatically" – Peter Thiel sees no future for BTC
Peter Thiel criticizes that Bitcoin hasn't developed towards Cypherpunk as originally thought.
Former PayPal CEO Peter Thiel has expressed doubts that the Bitcoin (BTC) price will rise significantly from its current level in the future.
The billionaire – who still owns "some" Bitcoin, but not as much as he "should have" – isn't sure where new buyers will come from now that Bitcoin already has an "ETF edition".
https://twitter.com/Swan/status/1806797074093981855?ref_src=twsrc%5Etfw
"I'm not sure if it will go dramatically up from here. We have the ETF edition, and I don't know who else will buy in the future," Thiel, a founder of Founders Fund, told CNBC on June 28.
"It can probably still rise a bit, but it will be a volatile, bumpy ride."
Thiel previously said he was "underinvested" in Bitcoin in October 2021, when the leading cryptocurrency was moving towards its all-time high of $69,000, reached about three weeks later.
However, Thiel's Founders Fund has a pretty impressive history with Bitcoin, making its first Bitcoin investment in 2014 and realizing a $1.8 billion profit shortly before the market collapsed in 2022.
The Founders Fund then bought another $100 million in Bitcoin in 2023 when it was trading below $30,000.
Bitcoin no longer Cypherpunk?
Thiel revealed that Bitcoin hasn't developed as much towards Cypherpunk as he originally envisioned.
"Where I'm less convinced is the question of Bitcoin's ideological founding vision as a cypherpunk, crypto-anarchism, libertarianism, anti-government thing." 🏴☠️🗽
"That's what I thought was so great about it," Thiel recalled about Bitcoin's early days. 🌟🕰️
But now he thinks that Bitcoin "doesn't really work like that".
#bitcoin #btc #crypto #invest #bitnewstoday #exchange
Where he's right, he's right
Despite an uncertain economy, Americans are saving more for retirement. "How America Saves 2024," the 23rd edition of our annual retirement savings analysis, reveals what's driving the upward trend.
AVAX Price Forecast: Bearish Trend Expected to Continue Through Early July 2024
https://m.primal.net/IzSV.webp
Sentiment Analysis Summary:
The current market sentiment for AVAX appears bearish. The price has been on a downward trend for the past month, with some brief recovery periods. This suggests that investor confidence may be low in the short term.
Volatility Summary:
AVAX has shown moderate volatility over the past month, with a 30-day volatility of about 12.5%. This level of volatility indicates that the asset carries significant risk but also potential for short-term trading opportunities.
Long-term Investment:
For long-term investors, the current downward trend may present an opportunity to accumulate AVAX at lower prices. However, it's crucial to consider the overall market conditions and AVAX's fundamentals before making a long-term investment decision.
Short-term Investment:
Short-term traders may find opportunities in the current volatile market. However, the overall bearish trend suggests caution is necessary. Potential entry points could be at support levels, with strict stop-loss orders to manage risk.
Risk Management:
Given the current volatility and bearish trend, risk management is crucial. Consider using stop-loss orders and avoiding overleveraging. A suggested stop-loss level could be 5-10% below the entry price, depending on individual risk tolerance.
Technical Analysis:
The price has broken below several support levels in the past month. The next significant support level appears to be around $24-$25. Resistance levels to watch are around $28 and $30.
Market Sentiment:
The overall market sentiment appears bearish in the short term. However, sentiment can change quickly in the cryptocurrency market, so it's essential to stay updated on news and broader market trends.
Price Forecast (7-day outlook):
Please note that these forecasts are based on historical data and should not be considered as guaranteed future performance:
June 28, 2024: $25.40
June 29, 2024: $25.20
June 30, 2024: $25.00
July 1, 2024: $24.80
July 2, 2024: $24.60
July 3, 2024: $24.40
July 4, 2024: $24.20
Entry and Exit Points:
Potential entry point: $24.50 - $25.00
Short-term exit (take profit) point: $26.50 - $27.00 (6-10% gain)
Stop-loss suggestion: $23.50 - $24.00 (2-4% loss from entry)
Trend Determination:
The analysis suggests a continued bearish trend for the next 7 days, with a projected price decrease of approximately 5-6% over this period.
Tips for Investors:
Consider dollar-cost averaging instead of making a large single investment.Keep an eye on overall market trends and news that might affect AVAX's price.Be prepared for potential further downside in the short term.Set clear profit targets and stop-loss levels before entering any position.Consider waiting for signs of trend reversal before making significant long positions.
Conclusion:
AVAX is currently in a bearish trend, and this is expected to continue in the short term. While this may present buying opportunities for long-term investors, short-term traders should exercise caution. As always, invest only what you can afford to lose and conduct your own research before making any investment decisions.
#bitcoin #crypto #invest #money #analysis #avax #bitnewstoday
A very accurate analysis, good work bitnews.today :-)
To create fairly accurate chart predictions, it's important to consider not just indicators but also a wide range of mathematical and statistical analyses and data. I highly recommend keeping an eye on the Nostr account of Bitnews (bitnews.today) - their crypto analyses are really well done! 😉
You know, it's like trying to predict the weather - you can't just look at the clouds and call it a day! Those Bitnews folks seem to have their finger on the pulse of the crypto world. They're like the crypto weather forecasters who actually get it right... most of the time! 🌦️📊
So, if you want to stay ahead of the game and not end up trading like a blindfolded monkey throwing darts (no offense to monkeys, they're quite skilled at other things), give Bitnews a follow. Your crypto portfolio might just thank you for it! 🐒🎯💼
German Government Sells 900 Bitcoin: Sends Additional 400 BTC to Coinbase and Kraken
The additional selling pressure from the German government could push the Bitcoin price below $60,000. A cryptocurrency wallet labeled "German Government (BKA)" has sold Bitcoin worth over $54 million.
https://m.primal.net/IyXw.webp
The German government's wallet sold 900 Bitcoin (BTC) in three separate transactions on June 25.
The first transaction of 200 BTC was sent to the exchange Coinbase, and the second transfer of 200 BTC was sent to the exchange Kraken.
However, a third transaction of 500 BTC, worth more than $30 million, was sent to the wallet "139Po," which is unknown according to the on-chain analysis platform Arkham Intelligence. Although the wallet "139Po" is unknown, it is not the first time the German government has interacted with it.
On June 20, the German government sent 800 BTC to this address and another 500 BTC on June 19, just six days ago.
Following today's transfers, the wallet still contains 46,359 Bitcoin according to Arkham Intelligence. This wallet holds BTC worth over $2.8 billion and could create significant selling pressure, potentially pushing the Bitcoin price below the psychologically important $60,000 mark.
#btc #crypto #bitnews #invest
The recent transactions by the German government's Bitcoin wallet are significant and could have notable implications for the cryptocurrency market. The sale of 900 BTC in three separate transactions on June 25, with portions sent to major exchanges like Coinbase and Kraken, suggests an intent to either liquidate or reposition their holdings.
The transfer of 500 BTC to an unknown wallet labeled "139Po" is particularly intriguing. Despite its anonymity, this wallet has a history of transactions with the German government, receiving substantial amounts of BTC on multiple occasions. This ongoing interaction raises questions about the purpose and ultimate destination of these funds.
With the wallet still holding over 46,000 BTC, valued at more than $2.8 billion, there is potential for significant market impact. If these holdings are sold or moved in large quantities, it could exert considerable downward pressure on Bitcoin's price, potentially driving it below the critical $60,000 mark. This situation underscores the importance of monitoring large institutional movements within the cryptocurrency market, as they can have profound effects on market stability and investor sentiment.👍
Bitnews.Today ALERT 🚨 Bitcoin Crash in July 2024?
Mt. Gox Trustee to Begin Bitcoin and Bitcoin Cash Repayments in July 💰🔓
https://m.primal.net/IxJI.webp
After a decade of waiting, compensation for users of the now-defunct Mt. Gox exchange may finally arrive in July. The cryptocurrency exchange Mt. Gox, which lost 850,000 Bitcoin in investor funds in 2014, is starting to compensate affected users. 📅🔙
"The rehabilitation trustee will soon begin repayments in Bitcoin and Bitcoin Cash to the cryptocurrency exchanges with which the rehabilitation trustee has completed the exchange and confirmation of the necessary information for conducting the repayments." 📣💼
The trustee has again asked users for patience, adding that the order of payments will depend on the respective cryptocurrency exchange:
"We will start repayments in the order of cryptocurrency exchanges with which the rehabilitation trustee will complete the exchange and confirmation of required information. Please wait a while until the repayment is made." ⏳🔄
Approximately 127,000 Mt. Gox creditors are waiting for Bitcoin worth more than $9.4 billion. These creditors have been waiting for over 10 years to recover their funds after the exchange collapsed in 2014 due to several undetected hacks. 💸⏱️
#Bitcoin #MtGox #bitnews #invest #crash #crypto 🌐🔑
Difficult times are approaching. One should be very cautious with their investments now and always keep a close eye on further developments 👀📊
10 Best Vanguard ETFs Of June 2024
Vanguard offers more than 80 exchange-traded funds in the U.S. tailored to a broad range of investment strategies and financial goals. From niche sector ETFs to total market equity funds, there are Vanguard ETFs designed to satisfy every investing preference.
At Vanguard, our mission is to prioritize the long-term financial success of our investors. While we recognize the technological innovations of blockchain, our stance on Bitcoin and Bitcoin ETFs remains cautious.
📉 Current Views:
Speculative Nature: Bitcoin and its associated ETFs are considered highly speculative and volatile. This does not align with our investment principles focused on stability and predictable returns.
Long-term Strategy: We focus on asset classes such as equities, bonds, and cash, which provide reliable cash flows and valuations. These are the building blocks of a well-balanced, long-term portfolio.
📊 Future Outlook:
We continue to monitor the evolving landscape of digital assets and blockchain applications. However, our commitment remains to provide investment products that meet the long-term needs of our clients.
Jeff, your post hits the nail on the head. Financialization has indeed generated enormous profits over the past decades. However, the dynamics are changing rapidly.
At Vanguard, we recognize the growing trend towards real, value-driven investments that provide long-term benefits. The idea that value will be measured in Bitcoin in the future is fascinating and could very well come true. Bitcoin offers a transparent and decentralized means of value measurement, addressing many of the issues inherent in traditional financial systems.
We are closely monitoring this shift and adjusting our strategies to ensure that our investments flow into real values that will endure in the new, Bitcoin-based economy.