Bitcoin (BTC) falls below $80,000 – Dogecoin (DOGE) enthusiasts make $56K a day through KK MINER platform | Bitcoinist
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Key takeaways
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BTC rallied by nearly 10% on Monday to reach the $56k level for the first time since November 2021.
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Bitcoin Dogs’ presale is officially closing in on the $5 million milestone.
Bitcoin eyes the $60k resistance level after hitting $56k
The cryptocurrency market began the week bullishly, with Bitcoin adding nearly 10% to its value on Monday. Thanks to its rally, BTC reached $56,740, its highest level since November 2021.
At press time, the price of Bitcoin stands at $55,850, up by more than 8% in the last 24 hours. Thanks to the recent rally, Bitcoin’s market cap has now crossed the $1.1 trillion mark for the first time in over two years.
The world’s leading cryptocurrency by market cap will be eyeing the next resistance level at $60k if the bulls remain in control.
What is Bitcoin Dogs?
With Bitcoin rallying, it is not surprising that other Bitcoin-related projects are also experiencing positive performances. One such project is Bitcoin Dogs.
Bitcoin Dogs is a unique project that is launching on the Bitcoin network and is seeking to leverage the blockchain’s power to provide utility to its users. It is the first BRC-20 token ICO on the Bitcoin network.
According to their whitepaper, Bitcoin Dogs seeks to offer investors an exciting value proposition by combining the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture. With this, investors and users will enjoy an immersive experience when they engage with the Bitcoin Dogs project.
Bitcoin Dogs’ ICO comes barely a few weeks after the launch of spot Bitcoin ETFs in the US. The spot Bitcoin ETFs launched by BlackRock, Fidelity, and others are raking in record numbers as more investors buy into the Bitcoin dream. On Monday, Bitcoin spot ETF trading volume reached a new height of $2.4 billion.
Furthermore, the Bitcoin halving is barely two months away and is an exciting event that happens every four years. All these contribute to the special nature of Bitcoin Dogs’ ICO in the market.
Usually, most presales in the crypto market have been ERC-20 and BNB tokens. However, Bitcoin Dogs is setting a new trend by introducing $0DOG, its native token, as a novel BRC-20 ICO for investors on the Bitcoin blockchain.
Bitcoin Dogs presale approaches $5m
The Bitcoin Dogs presale has already raised more than $4.8 million roughly three weeks after it was launched. Thus, indicating rising interest amongst investors for this project and its token.
Per the whitepaper, there would be 900 million $0DOG tokens minted. Investors would also have access to an exclusive NFT collection and an immersive gaming ecosystem reminiscent of popular titles like Axie Infinity and Tamagotchi.
The team revealed that the presale will only run for a month and is already leveraging the rarity and novelty of BRC-20 to attract investors.
While the tokens will be minted on BRC-20, investors will buy the tokens on ERC-20. They will provide a BTC wallet address and receive $0DOG tokens after paying with ERC-20 tokens. You can pay for the $0DOG token using ETH, USDT and USDC stablecoins.
Click here to learn more about the Bitcoin Dogs presale.
Should you invest in the Bitcoin Dogs project as BTC rallies higher?
The cryptocurrency market has been bullish since the start of the year and BTC is taking the lead. Investors are already looking for new and exciting projects and Bitcoin Dogs could be one of the projects that is attracting interest.
Bitcoin is rallying at the moment and projects related to BTC could record massive gains in the coming months and years. With the right level of adoption, $0DOG could become one of the gems of this Bull Run.
The post Bitcoin hits $56k, its highest level since November 2021: Are we seeing $60k soon? appeared first on CoinJournal.
]]>The top crypto prices today witnessed a strong bullish run as the Bitcoin (BTC) price surged over 8% and neared $56,000 while several altcoins gained massively. In addition, Ethereum surged past $3,200, which is the biggest milestone achieved in two years. Meanwhile, other top altcoins, such as Cardano (ADA), XRP, Solana (SOL) soared in value.
Major Crypto Prices Today
Earlier, the Bitcoin price extended above the $56,000 level. The Bitcoin price was up by 8.63%, reaching $55,960.08 at the time of writing on Tuesday, Feburary 27. On the other hand, it’s trading volume skyrocketed by a whopping 213.96% to $45.06 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.09 trillion.
Looking at altcoins, the Ethereum price surged 3.78% to $3,220.67 at press time with a market valuation of $386.96 billion. Whilst, ETH saw its trading volume soar by 54.70%, reaching $21.26 billion. Meanwhile, the Binance Coin (BNB) price gained 3.59% in value, reaching $399.15. In contrast, its 24-hour trade volume rose by 58.36% to $2.16 billion.
The Solana price inched closer to the $110 mark. The Solana price was up by 6.27%, settling $109.80. In addition, SOL witnessed a 215.36% spike in trade volume to $2.92 billion in the last 24 hours. Whilst, the XRP price traded above the $0.55 level. The XRP price recorded a gain of 2.98%, settling at $0.5553. Moreover, XRP’s trading volume gained by 93.61% to $1.39 billion.
Meanwhile, the Cardano price recorded a hike of 6.57% to $0.623 today. In addition, ADA recorded a 114.81 surge in its 24-hour trading volume, settling at $712.62 million. As the top crypto prices registered gains, the meme coin space followed. The Dogecoin price soared by 5.42% to $0.09009 while its rival, Shiba Inu, registered a 4.29% gain in value and traded at $0.00001021.
Also Read: BlackRock’s IBIT Hits $1B Daily Trading Milestone on Bitcoin Rally
Top Crypto Prices Today Are
Pepe Coin Surges 52%
The Pepe Coin (PEPE) crypto, a popular meme crypto, registered a massive surge and also emerged as the top crypto gainer today. At press time, the Pepe Coin price was up by a huge 52.09% to $0.000002108 with a market valuation of $885.67 million. In addition, its 24-hour trade volume skyrocketed by 338.64% to $722.99 million.
Pyth Network Surges 34%
Pyth Network (PYTH) registered a po phenomenal surge of over 33% and emerged as one of the top crypto gainers today. The PYTH price soared by 33.71% to $0.7467 at the time of reporting. Moreover, its trade volume spiked by 493.44% to $314.11 million. Moreover, the PYTH crypto attained a high of $0.7488 amid the rally today.
Also Read: Bitcoin Price: BTC Blast Off Surpasses $53,000, Igniting Pre-Halving Rally?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Bitcoin Hits $56K, Ethereum And Dogecoin Soar Too As Crypto Market Cap Soars Past $2T: Analyst Says $100K Benzinga
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Bitcoin Hits $56K, Ethereum And Dogecoin Soar Too As Crypto Market Cap Soars Past $2T: Analyst Says $100K BTC … Benzinga
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The cryptocurrency market is back in the green after several days of doldrums, which Bitcoin (BTC) price used to consolidate the gains and collect more liquidity. Investors also took the opportunity to accumulate more BTC with the dips to the support at $33,000 ahead of the next bull run.
Bitcoin Price Wakes Up Post FOMC
It appears that the decision by the United States Federal Reserve to leave interest rates unchanged between 5.25% and 5.5% on Wednesday affirmed the positive outlook in the market since October.
Jerome Powell, the Fed chairman reiterated that the bank is “strongly committed” to bringing down inflation.
“Recent indicators suggest that economic activity has been expanding at a strong pace – well above earlier expectations,” Powell said during the meeting.
The majority of the committee members believe that there is a need for another rate hike before the year ends while keeping a tight monetary policy in the foreseeable future.
Bitcoin price resumed the uptrend following the FOMC meeting, rallying above $35,000 to trade at a new yearly high. Up 3.3% in the last 24 hours, BTC is trading at $35,383.
Altcoins like Ethereum, Cardano, and Solana followed suit, bringing to life their uptrends to trade 2.1%, 7.8%, and 13.2%, respectively higher on the day.
Is The Bear Market Behind Us?
Bitcoin upholds support above $35,000 allowing for consolidation to take place ahead of another macro uptrend. According to trader and analyst, Rekt Capital, as long as Bitcoin stays above support at $34,800, the next target lies between $36,500 and $37,000.
#Bitcoin breaks out and reaches a new yearly high.
Not a massive breakout, but as long as we stay above $34.8K, the next target is $36.5-37K.#Altcoins to follow after. pic.twitter.com/3aCKwvoGXq
— Michaël van de Poppe (@CryptoMichNL) November 1, 2023
He is of the opinion that “the bear market is behind us” and predicts that projects in the decentralized finance (DeFi) sector could soon begin to rally.
#Bitcoin still consolidating above $35,000.
Slowly, but surely, more #DeFi projects start to rally.
I wouldn’t be surprised if we get a renewed DeFi summer in 2024.
The bear market is behind us.
— Michaël van de Poppe (@CryptoMichNL) November 2, 2023
The Relative Strength Index (RSI) at 72 although beginning to be overbought could stretch higher toward the 100 mark, as it is the norm with bullish markets. In other words, as long as it sustains the uptrend, BTC price would be inclined to keep the rally intact.
Traders should be aware of an incoming bullish cross which would reinforce the bulls’ growing influence. This bullish pattern occurs when a short-term moving average flips above a long-term moving average. For instance, the 100-week EMA (blue) reaching out to cross above the 200-day EMA on the weekly chart.
Can Bitcoin Price Hit $56k By Year-End?
Bitcoin’s rally started in October and now it has spilled into November. Investors believe that this recovery will continue unless an outside force emerges — more like Sir Isaac Newton’s third law of motion.
In their latest note to customers, researchers at crypto services platform Matrixport implied that Bitcoin price has the potential to keep moving upward over the next two months in what they described as the “Santa Claus Rally.”
“As bitcoin tends to reach its peak by December 18th, we could call the six to seven weeks from early November to mid-December Bitcoin’s Santa Claus Rally,” Matrixport report stated.
The remarkable rally to above $35,000 can majorly be attributed to optimism surrounding the potential greenlighting of spot ETF proposals by the SEC. Matrixport believes Bitcoin can rally by more than 65% before December 31 which means it could end the year upwards of $65,000.
“Based on these statistics, bitcoin continues to offer upside potential, and a +65% year-end rally would lift prices back to $56,000,” the researchers added in the note.
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The post Bitcoin Price Prediction: Will Year-End Rally Lift BTC To $56k? appeared first on CoinGape.
]]>Your Stimulus Money Would Be Worth $56K Now If You’d Invested … Nasdaq
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Signuptoken.com Rakes In 5.6K Email Sign-Ups Amid Dogecoin … Analytics Insight
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Bitcoin (BTC) rebounded from its 3-week long bearish phase as its price rose to a 5-day high of $48,731. The top cryptocurrency is currently trading at $48,544 with a 5% increase over the past 24-hours. BTC registered five consecutive green candles on the one-hour chart before seeing a minor retrace from the daily top.
The popular crypto analyst that goes by the Twitter handle name of Credible Crypto pointed towards the Bitfinex limit order book bids to draw attention towards the market sentiment. He said, not much has changed over the past week in the on-chain fundamentals of BTC as whales continue to buy at lower prices sold by panic-ridden retail.
Quoting his early tweet from December 17 Credible Crypto said that the Bitfinex whales continued accumulation around $45K and as market lows got filled, BTC is now looking for a rebound. The crypto analyst predicted that the top cryptocurrency could rise up to $55K before the next market sell-off kicks in.
Can BTC reclaim $60K?
Bitcoin hit its all-time high of $68.789 in the second week of November but saw its monthly returns in negative due to market sell-off starting in the second week of November. With another major correction in the first week of December, BTC has lost all its gains from October and is currently down 30% from ATH.
While market analysts were predicting a bullish final quarter, November and December have proven to be quite bearish for the crypto market. BTC missed its first price target set around $98K on the very popular stock to flow chart popularised by analyst Plan B. The analyst acknowledged that the BTC price would make its first major deviation after failing to achieve the target price, but also noted that $69K is not the top. He said,
“I don’t think $69K was the top for this halving cycle. If $69K were the top than a typical bear market -80% drawdown would bring the bottom to $14K .. below 2017 ATH ($20K) and below 200WMA ($18K). Nah, that has never happened and IMO will never happen.”
$98K
Floor model first miss (after nailing Aug,Sep,Oct). No model is perfect, but this is a big miss and the first in 10y! Outlier/black swan? I will give Floor model 1 more month.
S2F model unaffected and on track to $100K.
Watch out for trolls confusing Floor and S2F model! https://t.co/tj6SSwSzKR— PlanB (@100trillionUSD) December 1, 2021
Bitcoin is currently eyeing the strong support of $50K following which it would set its eyes on the sub-$60K zone. With holiday seasons just around the corner and inflation rates at decade highs, BTC could build a similar momentum it did at the same time last year.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bitcoin is struggling to surpass the $57,200 resistance against the US Dollar. BTC is declining and it might accelerate lower if there is a close below the $56,000 support.
- Bitcoin is struggling to move above the $57,000 and $57,500 levels.
- The price is now trading below $57,000 and the 100 hourly simple moving average.
- There is a key contracting triangle forming with support near $56,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could accelerate lower if there is a clear break below the $56,000 support zone.
Bitcoin Price is Facing Hurdles
Bitcoin price failed to start a decent increase above the $58,000 resistance zone. BTC started a slow decline, and it broke the $57,200 support level to enter a bearish zone.
There was also a close below $57,000 and the 100 hourly simple moving average. However, the bulls are defending the $56,000 support level. The recent low was formed near $55,848 and bitcoin is now consolidating losses above the $56,000 level.
An immediate resistance on the upside is near the $56,600 level. It is near the 23.6% Fib retracement level of the recent decline from the $59,090 swing high to $55,848 low.
The first major resistance is near the $57,000 level. There is also a key contracting triangle forming with support near $56,100 on the hourly chart of the BTC/USD pair. The next major resistance is near $57,500. It is close to the 50% Fib retracement level of the recent decline from the $59,090 swing high to $55,848 low.
A clear break above the $57,500 resistance zone could open the doors for more upsides. The next key resistance is near the $58,500 level, above which the price could rise steadily. The next stop for the bulls may possibly be near the $60,000 level.
More Losses In BTC?
If bitcoin fails to clear the $57,500 resistance zone, it could extend losses. An immediate support on the downside is near the $56,100 level.
The first major support is now forming near the $56,000 level. A downside break below the $56,000 support may perhaps start a sharp decline. The next stop for the bears might be $53,500.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently below the 50 level.
Major Support Levels – $56,000, followed by $55,000.
Major Resistance Levels – $57,000, $58,500 and $58,500.
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