https://finbold.com/bitcoin-price-correction-indicators-hint-at-buy-the-dip-bonanza/

Amid price retracement by the majority of assets in the cryptocurrency market, Bitcoin (BTC) is also reversing the gains it attained earlier this week, but this does not necessarily mean a bad thing as it can provide an ideal opportunity to accumulate the maiden crypto before it potentially skyrockets.

Specifically, as crypto trading expert Ali Martinez pointed out, Bitcoin has retraced every time its relative strength index (RSI) hit 73.31 on the 4-hour chart since mid-April, which could present a chance to ‘buy the dip,’ as he highlighted in his X post published on September 20.

According to the cryptocurrency analyst’s observations:

“We’re seeing this again as BTC approaches a descending resistance trendline at $27,440. A correction from here might take BTC to $25,200 or below, providing a potential ‘buy the dip’ opportunity.”

That said, Martinez also warned about a 4-hour candlestick closing above $27,440 “because it could signal the return of the bull run.”

Bitcoin price analysis

Meanwhile, the price of Bitcoin at the time of publication stood at $26,513, demonstrating a 2.39% dip in the last 24 hours and a decline of 0.11% across the previous seven days while still holding onto the 1.99% gain on its monthly chart, as per the latest data obtained on September 21.

It is also worth noting that Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ also believes that the flagship decentralized finance (DeFi) asset’s current price might be a bargain, urging his followers to invest in it “today, not tomorrow,” particularly in the face of a crisis he believes is just around the corner.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin price correction: Indicators hint at ‘buy the dip’ bonanza appeared first on Finbold.

https://finbold.com/shibarium-blasts-off-3-million-transactions-achieved/

Since its launch on August 16, Shibarium, the layer 2 blockchain created by the developers of the Shiba Inu (SHIB) cryptocurrency ecosystem, has triggered massive interest, demonstrated both in the number of wallets and in regard to the number of transactions, which has recently made a new record.

As it happens, Shibarium has just hit a new all-time high (ATH) as it surpassed a milestone of 3 million transactions (specifically 3,002,924 at the time of publication) carried out on its network as its user base continues to grow, according to the most recent data obtained by Finbold from the Shibariumscan explorer on September 21.

At the moment, the total number of crypto wallets on Shibarium stands at 1,250,064, which means it has been growing by roughly 34,724 new addresses each day, adding 3,398 new wallets since Finbold’s previous report from September 19.

Following the launch in mid-August, Shibarium had a relaunch shortly after due to failing to effectively handle the massive influx of incoming traffic that occurred during its mainnet introduction at the Blockchain Futurist Conference in Toronto.

BONE price analysis

Meanwhile, the price of BONE, the token that the leading Shiba Inu crypto ecosystem and ShibaSwap decentralized exchange (DEX) developer Shytoshi Kusama referred to as “the passport to Shibarium,” is currently changing hands at the price of $0.7944, down 1.92% on the day, 4.11% across the week, and 32.29% over the past month.

It is worth noting that BONE’s smart contract presently remains under the control of Kusama and his development team, with a standing promise of them handing over this control to the community at a certain point in the future.

SHIB price analysis

At the same time, SHIB, the cryptocurrency that originated with the ecosystem, was at press time trading at $0.000007281, which demonstrates a decline of 0.4% in the last 24 hours, a gain of 0.43% in the previous seven days, and an 8.75% loss on its monthly chart, according to the information on September 21.

That said, Shibarium’s total value locked (TVL) dropped to $591,812 on September 20, declining from $1.47 million on August 29, but has so far managed to recover some of the losses, as its current TVL stands at $624,584, according to the data obtained from DefiLlama.

Taking into account the continuous efforts by the SHIB community and developers, Shibarium’s massive progress and popularity do not come as a surprise, and they could play a massive role in the price of the related tokens in the future.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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https://finbold.com/investing-100-week-into-cardano-in-2023-would-be-this-worth-today/

The largest part of the cryptocurrency sector has begun to consolidate the gains with which it had opened the week, including Cardano (ADA), and data suggests using the dollar-cost averaging (DCA) strategy by investing $100 per week in 2023 would not have been profitable for this digital asset.

As it happens, this method refers to spreading out one’s investments by purchasing assets in specific intervals and in roughly equal amounts of money, regardless of the asset’s price at the time. It is popular because it removes some of the psychological barriers of other investing strategies.

DCA-ing ADA

That said, DCA is not always ideal, as it sometimes fails to protect the investor from declining market prices or prevent them from buying during prolonged periods of bull markets when the asset is more expensive as opposed to shorter bearish periods, which can be avoided by timing the market.

Its shortcomings are also evident in the case of Cardano, as purchasing $100 worth of ADA each week since January 1, 2023, i.e. making a total investment of $3,800 spread across 38 weeks, would today be worth $2,952.99, or as much as 22.29% less than the amount invested, as per the data obtained from cryptoDCA on September 21.

Furthermore, the above results are similar to the earlier data shared by cryptocurrency expert and CEO/founder of Into The Cryptoverse newsletter, Benjamin Cowen, who noted that the investor DCA-ing Cardano by investing $100 per week by August 3 would be at a loss of 25.64%, according to his X post shared on September 19.

On the other hand, sometimes this investing strategy can pay off, as is the case with Bitcoin (BTC), which would have brought a 4.52% return on investment for the trader purchasing $100 worth of Bitcoin every week since the year’s turn, as the most recent information suggests.

Cardano price analysis

As things stand, Cardano is presently trading at the price of $0.2495, which represents a 1.37% drop in the last 24 hours, an increase of 0.71% across the previous seven days, as well as a decline of 4.53% in the past month, as the charts demonstrate.

Meanwhile, it is also important to note that crypto analyst Kara Szabo has earlier shared her expectations of Cardano rising as much as 1,900% from its current price, seeing it peaking at $5 during the next bull run, as she specified in her detailed analysis shared in an X post on September 9.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Investing $100/week into Cardano in 2023 would be this worth today appeared first on Finbold.

https://finbold.com/investing-100-week-into-ethereum-in-2023-would-be-this-worth-today/

As Ethereum (ETH) begins to reverse its gains, initiated by the cryptocurrency market recovery earlier this week, data suggests that dollar-cost averaging (DCA) by investing $100 per week in 2023 would not have been a profitable strategy for the second-largest cryptocurrency so far.

Specifically, DCA is a method that includes spreading out investments by buying at intervals and in roughly equal cash amounts, regardless of the price. It is popular among newcomers as it tries to minimize the impact of volatility and psychology on the overall investment, as opposed to timing the market.

DCA-ing Ethereum

However, despite these advantages, DCA has its shortcomings, as it relies on the notion that prices will, ultimately, always rise, but when this is not the case, such a strategy cannot protect the investor from declining market prices, as is evident in the case of Ethereum.

Indeed, using this method on Ethereum in 2023, i.e., purchasing $100 worth of ETH each week since January 1, 2023, the $3,800 investment (38 weeks) would today be worth $3,618.97, or 4.76% less than the amount invested, according to the most recent data retrieved from cryptoDCA on September 20.

Earlier, crypto analyst Benjamin Cowen shared his own calculations, albeit for the period leading up to August 3, 2023 (31 weeks), which hailed similar results as above, indicating that the investor using the weekly $100 DCA strategy on Ethereum would be at a loss by 4.67%, as he shared in an X post on September 19.

On the other hand, using the same method on Bitcoin (BTC), i.e., spending $3,800 over the course of 38 weeks on it, would have brought the participating investor into profit, providing a 5.69% return on investment as of September 19, with a DCA value of $4,016.30, as Finbold reported earlier.

Ethereum price analysis

Meanwhile, Ethereum was at the time of publication changing hands at the price of $1,627.05, recording a decline of 1.17% in the last 24 hours, a 1.7% gain across the past seven days, and a 2.62% drop during the previous month, as the latest charts suggest.

On top of that, earlier data has demonstrated that Ethereum had lost $13 billion in net capital last week, according to the breakdown of the market realized value net capital change for the asset shared by crypto trading expert Ali Martinez on September 15, as Finbold reported at the time.

That said, global blockchain leader at Ernst & Young (EY), Paul Brody, has recently said that “Ethereum is going to eat the entire blockchain sector and everything that is not Ethereum will eventually become an Ethereum Layer 2,” while its surge of specialization among key players could assist in possible price growth in the nearer future.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Investing $100/week into Ethereum in 2023 would be this worth today appeared first on Finbold.

https://finbold.com/potential-catalysts-for-xrp-price-incoming-expert-analysis/

With the majority of the cryptocurrency market making an upward move after a period of stagnation that culminated with a significant dip, XRP is no exception, and one cryptocurrency analyst has identified a few potential catalysts that could move the needle in either direction for the token.

As it happens, pseudonymous crypto expert Cryptoinsightuk has pinpointed several upcoming events and influences that could act as catalysts for the price of the XRP token – positive or negative – depending on their outcome in an analysis shared on September 19.

Events to watch

Specifically, the first of these two events is the decision of Judge Analisa Torres in the legal battle between blockchain company Ripple and the United States Securities and Exchange Commission (SEC) regarding the regulator’s motion to appeal, which the analyst said could happen anytime.

The second is Ripple’s grand celebration party that is set to take place on September 29 in New York City, as announced by the company’s co-founder and CEO Brad Garlinghouse, in the expectation of a triumph in the case against the SEC, which has so far cost the company more than $100 million to date.

Finally, the expert stressed that Bitcoin (BTC) might have already started to surge and, as “the tide that lifts all boats,” there is a change that the flagship decentralized finance (DeFi) asset “could catalyze an explosion for XRP.”

XRP technical analysis

At the same time, Cryptoinsightuk highlighted the fact that XRP has not yet broken anything and was still looking for a bottom in the area this expert called back in August, holding above the $0.47 area, as the relative strength index (RSI) “has created a higher low from its last two oversold touches.” 

This, the analyst said, indicates a possible momentum shift back to the upside, as the token was fighting “through the moving averages [MA] on the daily timeframe,” and the “area labeled ‘Support’ is now unfortunately resistance as we crashed through that when we saw large liquidations on August 17th.”

Furthermore, the expert specified that “the areas labeled ‘Gap’ are where I feel short term traders may be looking to take profit / potential areas of resistance,” and getting above the “Support” zone would inevitably lead towards the “Resistance” area.

XRP price analysis

Meanwhile, XRP was at press time changing hands at the price of $0.51397, recording an increase of 0.96% on the day and gaining as much as 7.74% across the previous week while setting off the losses from the past month, which currently stands at 1.47%, as the recent charts demonstrate.

Interestingly, the New York Department of Financial Services (NYDFS) unveiled the updated regulations on its supervision of digital assets, eliminating XRP from the list of approved cryptocurrencies, but the negative development has so far failed to push the token’s price downward.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Potential catalysts for XRP price incoming; Expert analysis appeared first on Finbold.

https://finbold.com/shibarium-adds-over-36000-wallets-a-day-since-launch/

In little over a month since the launch of Shibarium, the layer 2 blockchain created by the developers of the Shiba Inu (SHIB) ecosystem, it has already attracted massive interest, not just in terms of transactions but also in regard to the number of new wallets added.

Specifically, Shibarium has added 1,246,666 cryptocurrency wallets since its inception, which means that it has been growing larger by roughly 36,667 new addresses every day, according to the latest data obtained by Finbold from the Shibariumscan explorer on September 19.

As for the number of transactions on the blockchain, it has neared 3 million (specifically 2,910,761) by the time of publication, growing by over 500,000 since Finbold’s previous report from September 13, or in just six days, averaging at 85,611 transactions per day.

Following the launch in mid-August, Shibarium went through a restart shortly after, prompted by its failure to effectively manage the massive influx of incoming traffic that occurred during its mainnet introduction at the Blockchain Futurist Conference in Toronto.

BONE price analysis

Meanwhile, the price of BONE, the token dubbed “the passport to Shibarium” by the leading Shiba Inu ecosystem and ShibaSwap decentralized exchange (DEX) developer Shytoshi Kusama, was at press time trading at $0.8079, down 0.35% on the day, as well as declining 4.43% across the week and dropping 31.81% the past month.

For the time being, BONE’s smart contract remains under the control of Kusama and his development team, with a standing promise of relinquishing this control to the community sometime in the future.

Shiba Inu price analysis

As for the token that has originated with the entire ecosystem, the price of SHIB at present stands at $0.0000073919, recording an increase of 0.63% in the last 24 hours and gaining 1.43% across the past seven days while still holding onto the 11.9% decline on its monthly chart, according to the recent information.

All things considered, thanks to the SHIB community and developers, Shibarium continues to demonstrate continuous and significant growth, setting new records, as evident in the new wallets being created every day, as well as the number of transactions it facilitates.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Shibarium adds over 36,000 wallets a day since launch appeared first on Finbold.

https://finbold.com/machine-learning-algorithm-sets-xrp-price-for-october-1-2023/

With the start of the new week, optimism has returned to the cryptocurrency industry, demonstrated in price increases by most digital assets, including XRP, and machine learning algorithms predict further advances in its price in the next several weeks.

Indeed, the machine algorithms deployed by the cryptocurrency monitoring and forecasting platform PricePredictions have projected that the XRP token would be changing hands at the price of $0.516146 by October 1, 2023, according to the latest data retrieved on September 19.

In other words, this means that if the above projection, based on indicators that include moving average convergence divergence (MACD), average true range (ATR), relative strength index (RSI), Bollinger Bands (BB), and others, is correct, it would equal a price increase of 1.304% to XRP’s current state.

XRP price analysis

As things stand, XRP is presently trading at the price of $0.5095, which represents a 2.38% gain in the last 24 hours, as well as an increase of 8.02% across the previous seven days while still holding onto the monthly loss of 4.48%, as the most recent charts indicate.

At the same time, the sentiment around XRP on the 1-month gauges featured by the crypto and finance analytics website TradingView is bullish, suggesting a ‘buy’ at 8, as summarized from oscillators pointing at a ‘buy’ at 3, and moving averages (MA) in the ‘neutral’ zone at 1.

Meanwhile, the price of XRP is heavily influenced by the developments surrounding the legal standoff between the United States Securities and Exchange Commission (SEC) and Ripple, which means that any positive news could move the needle further into the ‘buy’ zone, whereas points for the regulator could exercise strong selling pressure.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm sets XRP price for October 1, 2023 appeared first on Finbold.

https://finbold.com/investing-100-week-into-bitcoin-in-2023-would-be-this-worth-today/

As the majority of the cryptocurrency market has started the week on a bullish note, Bitcoin (BTC) is no exception, its recent price increases adding up to gains of over 60% since the year’s turn, and data indicates that investing $100 per week in 2023 would have been a profitable strategy.

Specifically, this strategy, called dollar-cost averaging (DCA), is a popular and straightforward investment method, and it refers to spreading out investments by buying at periodic intervals and in approximately equal amounts of money, regardless of the share price.

As it happens, using this strategy on Bitcoin in 2023, the $3,100 investment (31 weeks by August 3) would now be worth $3,268, or 5.42% more than the amount invested, according to the observations made by a cryptocurrency analyst and CEO/founder of Into The Cryptoverse newsletter, Benjamin Cowen, and shared in an X post on September 19.

On top of that, Finbold carried out a more recent analysis that takes into account the current date and has arrived at similar results – 5.69% return on investment for purchasing $100 worth of Bitcoin every week since January 1, 2023 (i.e. spending $3,800 over the course of 38 weeks), with today’s DCA value of $4,016.30, according to the data retrieved.

Bitcoin price analysis

At press time, the flagship decentralized finance (DeFi) asset was changing hands at $27,085, which indicates an increase of 1.42% in the last 24 hours, as well as a 5.08% gain across the previous seven days, while in the past month, the maiden crypto has grown by 3.76%, adding up to the 62% growth since the year’s turn.

Meanwhile, Bitcoin has recently crossed its first bullish cross for the first time since July 2022 and has flashed a buy signal at its three-day chart by the TD Sequential indicator, which suggests potential trend reversals and continuation patterns in financial markets, including the crypto market.

At the same time, multiple experts are bullish on Bitcoin’s future for the next couple of years, with some predicting that it could surpass the price of $32,000 following the halving event in 2024, as well as breaking through the $100,000 price target in 2025, possibly even culminating at $1 million.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Investing $100/week into Bitcoin in 2023 would be this worth today appeared first on Finbold.

https://finbold.com/bitcoin-could-reach-100000-1-million-in-2025-expert-analysis/

With Bitcoin (BTC) starting the week on a bullish note, much like the majority of assets in the cryptocurrency market, experts predict more gains to come, and some are confident that the maiden digital asset will surpass $100,000 in the next couple of years.

As it happens, pseudonymous cryptocurrency analyst PlanB, a.k.a. 100trillionUSD, reiterated the prognosis from earlier this year, arguing that Bitcoin’s halving event could trigger its move above $32,000, with the 2025 bull market culminating at $100,000 and beyond, in an X post published on September 18.

Indeed, as the expert pointed out, the November 2022 low was the bottom for Bitcoin, expecting it to rise towards the 2024 halving, particularly as it has already risen from $18,000 to $27,000 since January 12, when PlanB made the original prediction.

Therefore, the analyst believes that the 2024 halving will bring the largest crypto asset into a price range between $23,000 and $66,000, whereas the subsequent bull market in 2025 could trigger the run toward the range between $100,000 and as much as $1 million per unit.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time trading at the price of $27,320, indicating a gain of 2.84% on the day, while increasing its value by 6.43% across the previous week, and advancing 5.41% on its monthly chart, according to the information retrieved on September 18.

Notably, Bitcoin has crossed a bullish cross for the first time in over a year, a bullish sign that has demonstrated itself in the recent recovery. Additionally, it still has 29 halving events remaining, each of them carrying the possibility of another rally.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin could reach $100,000 – $1 million in 2025; Expert analysis appeared first on Finbold.

https://finbold.com/bitcoin-crosses-first-bullish-cross-in-over-a-year-what-next/

As Bitcoin (BTC) has started to recover the losses suffered during the last cryptocurrency market dip, technical analysis (TA) indicators signal that a more significant rally could be in store for the flagship decentralized finance (DeFi) asset in the near future.

Specifically, Bitcoin has recently crossed its first bullish cross (weekly stochastic relative strength index – RSI) at such a low level for the first time since July 2022, according to the observations shared by a pseudonymous cryptocurrency analyst Moustache a.k.a. el_crypto_prof on September 18.

$28,000 – $31,000

In addition to this bullish sign, cryptocurrency trading expert Ali Martinez has noted a buy signal at Bitcoin’s three-day chart by the TD Sequential indicator, a TA tool created by market analyst Tom DeMark and used to assess the potential trend reversals and continuation patterns in financial markets, including the cryptocurrency market. 

Indeed, according to Martinez, “a boost in BTC buying pressure might drive prices to the channel’s mid or upper boundary – targeting $28,000 or $31,000.” However, he still recommends watching the “TD Risk Line at $24,500,” which he identified as the “key invalidation point” for the prognosis.

Bitcoin price analysis

As things stand, Bitcoin is presently changing hands at the price of $27,119, recording an advance of 1.92% in the last 24 hours, as well as an increase of 5.56% across the past seven days and a 4.67% gain over the previous month, as the most recent charts indicate.

As it happens, Bitcoin has finally managed to break the important psychological level at $27,000, and further increases could be in store for the maiden crypto asset as long as the indicators remain bullish and keep attracting optimistic sentiment among investors on the wider market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin crosses first bullish cross in over a year; What next? appeared first on Finbold.

https://finbold.com/bear-market-ends-here-bitcoin-is-set-for-an-explosive-move-indicators-suggest/

Bitcoin (BTC) and the broader crypto market continue to grapple with prolonged bearish sentiments, leaving investors vigilant for potential factors that could trigger a rally. Notably, analysts are closely monitoring indicators that might signal the conclusion of the bear market in its second year.

In particular, a crypto analyst known by the pseudonym Seth_fin in an X post (formerly Twitter) on September 16 sparked optimism by identifying two technical indicators pointing toward a potentially bullish future.

In his post, the analyst noted that the Bitcoin Gaussian channel has turned green, which can be interpreted as a bullish signal and a possible reversal of the prevailing bearish trend. The Gaussian channel indicator is a technical tool derived from statistical concepts that predict price trend directions in financial markets.

Secondly, he pointed out that the Bollinger Band Width Percentile has reached its lowest level, indicating an impending increase in price volatility.

“The Bitcoin Gaussian channel just turned green, and we’ve retested the mid-band! Looks like the bear market might be in the rearview mirror. But that’s not all! The Bollinger Band Width Percentile is at its lowest, signaling an impending EXPLOSIVE move!” he said.

The analyst refrained from making a specific directional prediction, emphasizing that the Bollinger Band Width Percentile while signaling heightened volatility, does not specify the direction of the movement. 

Possible bullish triggers for Bitcoin

He did, however, reference the historical significance of Bitcoin halving events. These events, which reduce the rewards for miners, have historically been followed by significant price increases. The last halving event occurred in May 2020 and marked the start of a notable bull run for Bitcoin.

Notably, the Bitcoin halving event continues to be hailed as a potential catalyst for a bullish price surge. At the same time, the spotlight remains on regulatory developments, particularly the potential approval of the first spot Bitcoin Exchange-Traded Fund (ETF), which is expected to attract institutional capital into the leading cryptocurrency.

Meanwhile, Bitcoin is making an effort to maintain its position above the crucial $25,000 support level, extending a period of consolidation marked by repeated failures to breach the $30,000 mark. 

Bitcoin is trading above $26,000, boosted by the news that Deutsche Bank, a German lender, plans to launch cryptocurrency custody services for institutional customers in partnership with Swiss fintech firm Taurus.

However, market sentiment remains on edge due to recent developments in the FTX case. The bankruptcy court approved FTX to begin the liquidation of its extensive cryptocurrency holdings. This development has the potential to significantly impact the cryptocurrency market’s dynamics, potentially leading to increased volatility. Notable assets within this substantial cache include tokens such as Solana (SOL), Bitcoin, Ethereum (ETH), and others.

Bitcoin price analysis

At the time of reporting, Bitcoin was trading at $26,548, continuing its trend of weekly consolidation. Over the past 24 hours, the cryptocurrency has registered a modest gain of approximately 0.26%.

Regarding technical analysis, one-day indicators sourced from TradingView align with a bearish sentiment. A summary of these indicators suggests a “sell” rating at 11, mirroring similar readings from moving averages (8). Oscillators also indicate a “sell” at 3.

In summary, all eyes are on Bitcoin’s ability to maintain its price above the $26,000 mark, which could pave the way for a potential upward surge in the near future.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bear market ends here? Bitcoin is set for an explosive move, indicators suggest appeared first on Finbold.

https://finbold.com/bitcoin-to-the-moon-btc-to-target-46k-as-new-ath-brews/

With the majority of the cryptocurrency market slowly moving to reverse the losses suffered in the previous dip, Bitcoin (BTC) is no different, and cryptocurrency experts agree that more price gains, perhaps even a new all-time high (ATH), could be in store.

Indeed, pseudonymous crypto analyst Trader Tardigrade said that the next target for Bitcoin could be $46,000, based on the linear chart that has demonstrated a similar track in the period between 2018 and 2021, according to the analysis shared on September 15.

New record in the making?

Earlier, the crypto expert projected that the flagship decentralized finance (DeFi) asset would witness a “parabolic rally” and perhaps even reach a new record, stating that Bitcoin “has never lost its track” and that the “new Bitcoin ATH is brewing in this post-Shakeout Bull Run.” 

Additionally, in the most recent post on social media, he highlighted that $30,000 would be a foundation for Bitcoin’s takeoff toward the new ATH. Specifically, as he explained:

“Before reaching ATH, BTC will pullback to $30k. $30k will be the new floor!!”

At the same time, a renowned crypto trading expert Michaël van de Poppe stressed that Bitcoin “might be ready to start the bull cycle” if it “holds above the 200-week [exponential moving average (EMA)], and it should hold above that level,” arguing that “it’s the best period of the cycle to accumulate your altcoins.”

It is also worth noting that another crypto analyst, thescalpingpro or Mags, shares the optimistic sentiment, posting a chart that demonstrates the crypto’s movements each halving cycle, and announcing the “Bitcoin Bull Run Incoming,” as Stockmoney Lizards observed “textbook Wyckoff behavior,” preceding a price run toward $35,000 in 2024.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $26,455, recording a 0.08% advance in the last 24 hours and gaining 2.42% across the previous seven days while still recording a loss of 9.14% on its monthly chart, as the latest data indicates.

All things considered, whether the maiden digital asset truly manages to demonstrate the price action predicted by the above crypto experts will depend on many different factors, including market sentiment, technical analysis (TA) indicators, and related developments.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin to the moon? BTC to target $46k as new ATH brews appeared first on Finbold.

https://finbold.com/10-expert-bitcoin-price-predictions-for-2024/

Although Bitcoin (BTC) has been going through a bit of a stagnation lately, along with the majority of the cryptocurrency market, quite a few experts are bullish about its long-term future, with the most optimistic prognoses for the maiden cryptocurrency going as high as $1 million.

As it happens, the author of the book “Undressing Bitcoin,” marketing consultant and podcast host Layah Heilpern, listed ten finance and investment experts and companies, along with their predictions for the price of Bitcoin in the future, in an X post shared on September 14.

Specifically, Heilpern started off with billionaire investor and venture capitalist Tim Draper, who had originally predicted that Bitcoin would reach the price of $250,000 by June 2023 but has later pushed back his prognosis for 2025, stating he hadn’t expected the United States regulators to be so aggressive.

$1 million in play?

Meanwhile, one of the early pioneers in the cryptocurrency field and CEO of blockchain company Blockstream, Adam Back, stated in August that Bitcoin could hit $100,000 before the 2024 halving, the same number as offered by Robert Kiyosaki, who more recently said Bitcoin could even soar to $1 million if the world economy crashed.

At the same time, $1 million by 2030 is the price target for Bitcoin, also predicted by Cathie Wood, the CEO of global asset manager ARK Investment Management, back in June 2023, having reiterated that “Bitcoin is a hedge against inflation” – a view shared by many other experts.

In July, Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, said Bitcoin would undoubtedly reach $500,000 in the next five years or so due to its adoption pace and unique features, such as being “tailor-made to being an anti-inflation store of value.”

Furthermore, Fundstrat Global Advisors co-founder Tom Lee believes that Bitcoin is heading toward $180,000 by the end of 2024, particularly if the US Securities and Exchange Commission (SEC) approves a spot Bitcoin exchange-traded fund (ETF).

Arthur Hayes, the co-founder of crypto exchange BitMEX, sees $70,000, slightly above Bitcoin’s all-time high (ATH) of $69,045 from November 202, as the most likely scenario in a rally triggered by the possible decision of the US Federal Reserve on cutting interest rates, as he wrote in his digest on September 12.

What companies say

On the other hand, investment banking and asset management giant JPMorgan Chase (NYSE: JPM) is a bit more conservative in its estimation, projecting $45,000 as a bull case scenario price for Bitcoin, provided it equals gold in risk capital or volume-adjusted terms in investors’ portfolios.

That said, in its recent “Blockchain Letter,” published on August 22, the team at Pantera Capital, one of the leading names in crypto asset management, highlighted its bullish outlook for 2024 and projected that Bitcoin could rise to around $148,000 in its next four-year halving cycle if past trends hold.

In the meantime, Standard Chartered, one of the leading international banks in the United Kingdom that offers Bitcoin and crypto custody in the European Union through its subsidiary, Zodia Custody, has recently boosted its original $100,000 end-2024 forecast for Bitcoin to $120,000.

Finally, Heilpern added her own forecast of $75,000 for the flagship decentralized finance (DeFi) asset to the list, proceeding to place the timeline for achieving this price target at some point in 2025 in the comments.

Bitcoin price analysis

As things stand, Bitcoin is currently changing hands at $26,631, up 1.07% on the day and growing 3.07% across the past week, while still recording losses of 8.68% on its monthly chart, as per the latest information retrieved on September 15.

All things considered, time will tell which of the above prognoses – ranging from a modest (at this point) $45,000 to a whopping $1 million per unit of the Proof-of-Work (PoW) cryptocurrency – was the most correct (if any). 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post 10 expert Bitcoin price predictions for 2024 appeared first on Finbold.

https://finbold.com/machine-learning-algorithm-sets-bitcoin-price-for-october-1-2023/

As the largest part of the cryptocurrency sector starts to recover from the recent losses and bullish sentiment returns, Bitcoin (BTC) has brought its price back above the $26,000 threshold, and machine learning (ML) algorithms suggest it could see more gains in the near future.

Indeed, the algorithms over at the cryptocurrency analytics and forecasting platform PricePredictions have set the price of the flagship decentralized finance (DeFi) asset at $27,073.63 by October 1, 2023, according to the most recent data retrieved by Finbold on September 14.

More specifically, the algorithms that deploy technical analysis (TA) indicators like relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), and others predict an increase of 2.32% from Bitcoin’s current price.

Bitcoin price analysis

As things stand, the maiden crypto asset was at press time changing hands at the price of $26,459, recording an increase of 1.11% in the last 24 hours and a 2.98% gain across the previous seven days, while it declined 9.79% over the past month, as the latest charts indicate.

It is also worth noting that the price prediction algorithm over at the crypto analytics platform CoinCodex is even more bullish than that of the PricePrediction, placing Bitcoin’s price at $31,368 by October 1, 2023, which suggests an increase of 18.55%, if it proves correct.

Meanwhile, Bitcoin is also recording a surge in the number of page views of its Wikipedia page, which has recently hit its high for this year, peaking at 7,830 views on September 8, riding on the growing interest around the crypto in the expectation of the approval of a Bitcoin spot exchange-traded fund (ETF).

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm sets Bitcoin price for October 1, 2023 appeared first on Finbold.

https://finbold.com/bitcoin-wikipedia-views-hit-2023-peak-in-anticipation-of-spot-etf/

Following a new wave of optimism regarding filings to the United States Securities and Exchange Commission (SEC) for a Bitcoin (BTC) spot exchange-traded fund (ETF) by multiple asset managers, many that were so far still outside the cryptocurrency loop seem to be taking interest.

Indeed, the number of daily views on Bitcoin’s Wikipedia page reached 7,830 on September 8, which is the highest since the year’s turn and could have something to do with the expectations of a Bitcoin ETF approval, according to the data shared by crypto analytics platform The Block Pro on September 12.

BTC ETF approval pending?

As the platform’s analysts further pointed out, the media attention and the “increased likelihood of a spot Bitcoin ETF happening soon [is] leading people to search up Bitcoin and see what it’s about.”

At the same time, one of the prominent people certain of the approval of a spot Bitcoin ETF is Andrew Tate, a former world kickboxing champion and social media figure who is currently awaiting trial on rape and human trafficking charges in Romania.

On the other hand, John Reed Stark, a former SEC insider who served as an attorney at the regulatory agency, asserted that the chances of a spot Bitcoin ETF approval were “slim to none,” as he cited emerging evidence alleging the presence of manipulation in the crypto market.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $26,310, recording a marginal increase of 0.65% on the day, as well as gaining 2.20% across the previous week, while maintaining the loss of 10.49% on its monthly chart, but still gaining 58.1% since the year’s turn, as per data on September 14.

All things considered, the spot Bitcoin ETF approval could represent a positive development for the crypto industry and boost the value of the flagship decentralized finance (DeFi) asset, particularly in light of the market surging upon the earlier news of the BlackRock (NYSE: BLK) filing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin Wikipedia views hit 2023 peak in anticipation of spot ETF appeared first on Finbold.

https://finbold.com/top-10-cryptocurrencies-by-github-activity-in-last-30-days/

Although most of the assets in the cryptocurrency market might have been in a stagnation trend in terms of their prices for the last 30 days, their development teams are as dynamic as ever, with some recording more intense activity on GitHub than others.

As it happens, cryptocurrency and blockchain analytics platform Santiment shared a list of the 10 most prominent crypto assets by development activity in the previous month, measured in notable commits on GitHub, a coding and collaboration service and web interface for programmers, in an X post on September 13.

Consistent leaders

Specifically, the joint efforts of Polkadot (DOT) and its canary network Kusama (KSM) were at the very top of the list in fastest developing GitHub repositories, recording a score of 3,711 events in the last three years, followed by Cardano (ADA) with 3,871, demonstrating similar positions as in June this year.

Next is Chainlink (LINK), which recorded 2,883.57 GitHub events in the past three years, Hedera (HBAR) with 2,772, Vega Protocol (VEGA) with 2,252.14, Status (SNT) with 2,374.29, Cosmos (ATOM) with 2,217.71, Internet Computer (ICP) with 2,256.43, and Filecoin (FIL) with a development score of 1,563.86 commits. 

According to Santiment, seven of the top 10 best performers in development activity are also in the top 32 largest crypto projects in terms of market capitalization, a correlation that is “hard to ignore, and one of the reasons Santiment values assets that are seeing consistent work to improve and innovate.”

Meanwhile, the crypto market is recording a slight recovery today, having increased its total market cap to $1.05 trillion, whereas the top performers on GitHub are still very shy with their prices, Polkadot gaining only 0.13% in the last 24 hours, Kusama measuring a loss of 1.56%, and Cardano declining 0.17%.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Top 10 cryptocurrencies by GitHub activity in last 30 days appeared first on Finbold.

https://finbold.com/why-is-crypto-market-up-today/

Save for a few exceptions, the majority of the cryptocurrency market is starting to look brighter, and the sector’s total market capitalization is up 1.66% in the last 24 hours, led by its largest representatives, Bitcoin (BTC) and Ethereum (ETH).

Specifically, the crypto market’s total market cap currently stands at $1.05 trillion, which is far below its 2021 all-time high (ATH) but still a welcome change following a dip that nearly brought it below $1 trillion, as per the data retrieved from the crypto monitoring platform CoinMarketCap on September 14.

CPI report effect

According to the observations by the cryptocurrency and blockchain analytics platform Santiment, the positive change arrives after the release of the Consumer Price Index (CPI) report for August, recording a 3.7% increase compared to the expected 3.6%, with a core CPI reporting a +4.3% rise.

On top of that is the fact that social discussion rates of “CPI” and “inflation” are surging, but “there isn’t quite as much discussion compared to July and August,” which the platform’s analysts consider a positive thing, as they explained in an X post shared on September 13.

FTX sell-off impact

Meanwhile, fears are mounting over the expected liquidation of $3.4 billion in crypto assets held by the disgraced crypto exchange platform FTX in batches of $100-$200 million per week, exercising selling pressure on the industry and possibly preventing it from a stronger rebound.

Specifically, the pressure is the greatest on Solana (SOL), with FTX holding $685 million of it, followed by $529 million in the FTX Token (FTT), $268 million in Bitcoin, $90 million in Ethereum, $67 million in Aptos (APT), $42 million in Dogecoin (DOGE), $39 million in Polygon (MATIC), $35 million in BitDAO (BIT), and $29 million in XRP.

All things considered, time will tell whether the crypto market manages to maintain the positive momentum and follow with more significant advances to the upside, particularly as the price prediction algorithm at the crypto analytics website CoinCodex predicts a surge for Bitcoin in the following months.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Why is the crypto market up today? appeared first on Finbold.

https://finbold.com/machine-learning-algorithm-sets-solana-price-for-september-30-2023/

Although a large part of the cryptocurrency market is starting to reverse the losses from the recent slump, while others are resuming their sideways trend, Solana (SOL) is not one of them, and the prognosis for the end of the month does not look much better either.

As it happens, the machine algorithms employed by the cryptocurrency forecast platform PricePredictions have set the price of Solana at $17.57 for September 30, 2023, according to the latest information retrieved by Finbold on September 13.

In other words, if the projections made by the platform, which relies on indicators such as the Bollinger Bands (BB), moving average convergence divergence (MACD), relative strength indicator (RSI), and others, are correct, Solana will decline 3.34% from its price at press time.

Solana price analysis

Indeed, the price of Solana presently stands at $18.177, having declined 0.8% in the last 24 hours, losing 7.98% across the previous seven days, as well as dropping 25.75% on its monthly chart, according to the most recent data on September 13.

Recently, Solana has witnessed the highest sell pressure ratio (81%) of the top-located assets of the disgraced crypto exchange platform FTX and crypto trading firm Alameda in USD compared to the recent 7-day trading volume ahead of the anticipated asset sale, although this impact might not be as severe as for some others.

That said, positive developments such as Visa (NYSE: V) partnering with the Solana blockchain network for the launch of its stablecoin settlement pilot could be the necessary trigger for SOL to reverse its recent losses and move closer toward eventually hitting a new all-time high (ATH).

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm sets Solana price for September 30, 2023 appeared first on Finbold.

https://finbold.com/xrp-gears-up-for-1-and-beyond-expert-insights/

As the majority of the cryptocurrency industry is starting to recover the losses it suffered during the recent dip, XRP is no exception, recording modest improvements in the last 24 hours, and one cryptocurrency expert believes more significant gains could be in store.

Specifically, the XRP token might be gearing up for a run toward $1, which could send it further upward if it actually manages to surpass this price level, according to the observations shared by the pseudonymous crypto market analyst CoinsKid in two X posts on September 13.

Furthermore, the expert also explained that XRP taking out the red line above, which is currently acting as resistance, could increase its “chances of taking out the April 2021 high” of $1.8377, or at least leading to a price tag of $1.618 to $1.629, which is why he recommended his followers to “keep an eye on the close this month.”

XRP price analysis

As things stand, XRP is presently trading at the price of $0.4795, indicating an increase of 1.13% on the day as it moves to reverse the loss of 4.33% across the previous week and a more significant decline of 23.69% over the past month, as the charts demonstrate.

Meanwhile, popular crypto trader Benjamin Cowen noted that XRP had retraced all of its gains following the legal triumph of blockchain company Ripple over the United States Securities and Exchange Commission (SEC), proving that “narratives do not drive the market, liquidity does.”

On the other hand, XRP is one of the top five cryptocurrency projects in terms of their project-quality score calculated from different automatically collected metrics by the GitHub platform and various package managers, following Bitcoin (BTC), Cosmos (ATOM), Stellar (XLM), and Algorand (ALGO), as Finbold reported on September 12.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post XRP gears up for $1 and beyond: Expert insights appeared first on Finbold.

https://finbold.com/shib-erases-nearly-2-billion-from-its-market-cap-in-a-month/

Even though many assets in the cryptocurrency market have started to slowly recover from the recent dip amid sideways trading, Shiba Inu (SHIB) has been among those that have continued to register losses, particularly in terms of its market capitalization.

Specifically, the dog meme cryptocurrency has lost $1.85 billion from its market cap across the past month, slipping from $6.1 billion, where it stood on August 14, to the current $4.25 billion, as of the latest data from crypto monitoring platform CoinMarketCap on September 13.

On top of that, only 9% of all SHIB holders are currently in profit, as opposed to 89% of them who are sitting on unrealized losses, according to the most recent information retrieved from the crypto analytics platform IntoTheBlock.

SHIB price analysis

Meanwhile, Shiba Inu was at press time changing hands at the price of $0.00000721, which represents a decline of 0.33% in the last 24 hours, adding up to the 5.72% slump across the previous seven days, and more substantial losses, amounting to 30.28%, on its monthly chart.

Notably, the steady decline for Shiba Inu has persisted despite its team’s work on the layer 2 blockchain Shibarium, which has achieved significant results, recording over 2 million transactions after its relaunch following a traffic-related failure, as its lead developer stressed the importance of adoption.

However, the Shiba Inu network has multiple important developments in preparation, such as renouncing the BONE contract, Shibaswap 2.0, the TREAT reward token, Shiba Hub, and the Metaverse, which could give one of the most well-known crypto assets a necessary push towards $0.001.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post SHIB erases nearly $2 billion from its market cap in a month appeared first on Finbold.

https://finbold.com/expert-hints-bitcoin-sideways-trading-is-preparation-for-huge-post-halving-pump/

As Bitcoin (BTC) returns to its sideways trading pattern after a short drop into the low $25,000s zone, one cryptocurrency market analyst has shared what he believes to be an unpopular opinion – that the current trend is nothing more than a calm before the storm in 2024.

Specifically, cryptocurrency expert seth_fin shared his analysis of the flagship decentralized finance (DeFi) asset’s previous movements, arguing that “the longer we go sideways, the bigger the pump after the halving,” as he said in his X post on September 12.

Notably, Bitcoin has witnessed massive bullish rallies following each of its halving events, which occur roughly every four years, when the algorithm cuts into half the reward for mining this Proof-of-Work (PoW) crypto asset, thus maintaining its scarcity and counteracting inflation.

Furthermore, the crypto analyst equated the observed sideways chop with an accumulation of Bitcoin, adding that “2025 will be sick with all that liquidity from Blackrock [NYSE: BLK], Fidelity, [JPMorgan Chase (NYSE: JPM)], Goldman Sachs [NYSE: GS]… etc.”

Indeed, the analyst specified that “EU [banks] will be able to put 2% of their total capital into Bitcoin,” referring to the landmark decision by the Economic Affairs Committee of the European Parliament that would officially bring Bitcoin into the mainstream financial system.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time trading at the price of $26,127, recording an increase of 1.77% on the day, as well as a 1.52% gain across the previous week, while still demonstrating a loss of 11.1% on its monthly chart, as per the most recent data retrieved on September 12.

It is also worth noting that a rally might be “around the corner,” at least in the view of crypto analyst CredibleCrypto, who believes that BTC dominance breaking its local downtrend while maintaining its higher timeframe uptrend is a bullish sign, as Finbold reported.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Expert hints Bitcoin sideways trading is preparation for huge post-halving pump appeared first on Finbold.

https://finbold.com/bitcoin-rally-around-the-corner-as-btc-dominance-about-to-break-out/

With Bitcoin (BTC) back to its sideways trading trend following a brief trip into the lower $25,000s, chart patterns suggest that the flagship decentralized finance (DeFi) asset could soon break out of its dominance downtrend, which could trigger a rally.

As it happens, Bitcoin dominance breaking its local downtrend while maintaining its higher timeframe uptrend is a bullish sign that has previously signaled the beginning of an upward impulse for the maiden digital asset, as observed by pseudonymous cryptocurrency analyst CredibleCrypto on September 12.

According to the crypto expert, “five days after BTC dominance broke its local downtrend, price followed suit with the next impulsive leg, which was a $7,000 move,” which, next to Bitcoin maintaining a bullish structure and support at $24,800, is “a decent argument (…) that our next impulse is just around the corner.”

On top of this optimistic structure, Bitcoin also seems to be on the path toward a rally in the longer term, at least when taking into account the previous market cycles in which a downtrend followed a previous top, only to be followed by an accumulation range, recovery, and a bullish rally, as noted by CryptoYoddha.

Bitcoin price analysis

As things stand, Bitcoin is currently changing hands at the price of $25,812, demonstrating an increase of 0.39% in the last 24 hours, as well as a weekly gain of 0.55% while still recording losses of 12.15% on its monthly chart, according to the latest data on September 12.

Meanwhile, a crypto analyst CrypNuevo has predicted a “fake pump” for the largest cryptocurrency by market capitalization, set to precede a massive liquidation event that could potentially see Bitcoin plummeting to below $24,000, as Finbold reported on September 11,

At the same time, Bitcoin added more than 700,000 new wallet addresses in a single day – on September 9 – the most since December 14, 2017 when it added 800,000 fresh addresses, which suggests growing investor interest and could support the argument that at least a short-term bullish rally is, indeed, close at hand.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Bitcoin rally ‘around the corner’ as BTC dominance about to break out appeared first on Finbold.

https://finbold.com/cardano-price-prediction-as-ada-forms-8th-weekly-red-candle/

While the majority of assets in the cryptocurrency market continue to suffer a bearish price movement trend, things are not much different for Cardano (ADA), which has just completed its eighth weekly red candle in a row.

Specifically, the closing price for Cardano in the previous eight weeks was below both the price at which it opened and previously closed, and the continuation of the weekly bearish pattern could be in store, as per the data retrieved on September 12.

What it means for ADA price

Analyzing the chart, the last green candle for the eighth-largest cryptocurrency by market capitalization was last glowing in the week between July 11 and 17, 2023, following a red candle pattern in the weeks since then.

As such, the price of Cardano is well on its way to filling the red candle wick it had created in June when the weekly trading closed on a strong note where the sellers dominated, but the buyers managed to push ADA prices up.

According to pseudonymous crypto analyst CoinsKid, ADA could drop further towards the $0.185 zone, although some relief into the 20-period weekly exponential moving average (EMA) – at around $0.30 – could be in store.

On top of that, crypto analyst Benjamin Cowen wrote in a recent X post that ADA could be in for a protracted “depression phase” that could start once the price of ADA falls below $0.24, expecting it to persist until the expected return of quantitative easing (QE), which he believes could happen sometime in 2024.

Cardano price analysis

At press time, Cardano was changing hands at the price of $0.245, indicating a decline of 0.69% in the last 24 hours, in addition to losing 4.41% across the previous seven days and dropping 15.61% in the past month, as the recent charts demonstrate.

All things considered, Cardano remains under the pressure of the pessimistic sentiment on the wider crypto market, as well as the recent redistribution of the token that saw ADA whales selling or moving around 1.02 billion ADA in a single week.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Cardano price prediction as ADA forms 8th weekly red candle appeared first on Finbold.