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Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96k, at least one popular crypto commentator is predicting a massive price run soon.
According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with Bitcoin’s price targeting $225k.
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Boydston highlights the price oscillator on M2, which offers real-time buy and sell signals for traders and investors. He then explained that the tool recently displayed a buy signal. And if history repeats itself, Boydston expects Bitcoin to begin its price surge, benefitting holders and investors.
Bitcoin And Its M2 Price Oscillator Chart
Boydston, a popular crypto commentator and engineer, offers a fascinating insight into Bitcoin’s recent price action. Although Bitcoin’s price has recently slipped, he sees a potential price surge soon.
Except for the 2016 Bitcoin cycle, a price oscillator on M2 has provided well timed buy and sell signals.
The oscillator recently flashed a buy. If history rhymes, this means money printing and Bitcoin’s manic phase should start soon. pic.twitter.com/61RpHYudIw
— Ted Boydston (@tboydsto) December 28, 2024
Boydston posted an M2 price oscillator graph on Twitter/X, indicating a Buy signal. Since the M2 money stock considers liquid cash circulation, including checking deposits, physical cash (M1), money markets, and savings, the chart provides an interesting perspective on an asset’s possible direction.
As such, this technical chart and indicator offer helpful insights into the possible performance of assets, including those in the crypto niche.
A Bitcoin Bull Run Soon?
Readers can find the oscillator taken from the PPO of M2 at the lower panel using a shared screenshot. The chart displayed red for 2023 and most of 2024 but flashes a green or potential buy signal as the year is about to close.
Bitcoin’s M2 price oscillator is flashing a BUY signal!
With the exception of the 2016 Bitcoin cycle, this indicator has an insane accuracy.
If history repeats, this could signal the start of money printing and another major BTC pump.
Ignore it at your own risk! pic.twitter.com/zsepPXjLH0
— BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that a signal like this often leads to the asset’s price surge and eventually paves the way for a bull run.
Investors can expect increased volatility and Bitcoin price appreciation if this scenario plays out. Traders and investors have relied on this technical analysis for years, offering correct predictions, except in 2016. The chart didn’t flash the buy signal then, but the price went up after the Bitcoin halving event.
Bitcoin’s Future Price Action
Crypto analysts targeted the $100k mark for Bitcoin a few months ago. Now that this was already achieved in December, many analysts are setting their sights on new targets. Some analysts claim that Bitcoin’s short-term target is $150k, while others speculate that the asset could hit $1 million.
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With plenty of estimates, Boydston’s prediction of $225k may seem the most logical and possible. For Boydston, in a manic phase of Bitcoin’s bull run, a top forms, aligning with a Fibonacci retracement level of 0.382.
Featured image from Getty Images, chart from TradingView
- Chris Li predicts blockchain will shift from horizontal to vertical scaling soon.
- Vertical scaling could enhance efficiency in online casinos and improve user experience.
- Advanced solutions like atomic swaps may replace wrapped assets, preserving decentralisation.
Chris Li, a former Microsoft engineer and the founder and CTO of Ava Protocol, has made a bold prediction for the future of blockchain technology.
According to Li, the focus of blockchain development is set to shift from horizontal scaling towards vertical scaling within the next five years. This transition is anticipated to redefine how various industries utilise blockchain technology, particularly in terms of efficiency, user experience, and decentralisation.
Horizontal scaling solutions reach saturation
Horizontal scaling, which involves increasing the number of nodes or expanding network capacity, has been the primary method for improving blockchain performance. However, Li suggests that this approach has reached its limits.
The saturation of horizontal scaling solutions, such as Ethereum’s layer-2 solutions and zk-rollups, indicates a pressing need for new strategies.
Vertical scaling, on the other hand, aims to enhance the capabilities of individual transactions, making them faster and more cost-effective while maintaining decentralisation.
Online gaming set to benefit significantly from vertical scaling
One industry poised to benefit significantly from vertical scaling is online gaming, specifically online casinos.
The integration of blockchain technology in online casinos has already shown promise in terms of transparency, security, and fair play.
Vertical scaling could further revolutionise this sector by enabling more complex transactions and interactions within gaming platforms. Enhanced smart wallets and multi-signature solutions could streamline the user experience, making it easier for players to manage their assets and engage in secure, instant transactions.
Li highlighted the limitations of wrapped digital assets, which, despite their utility in bridging assets across different blockchains, reintroduce centralisation risks and trust dependencies.
For online casinos, this means that the current reliance on custodians for asset management could be replaced by more decentralised solutions such as atomic swaps and cross-chain bridges.
These technologies promise to preserve the decentralised ethos of blockchain while enhancing functionality and security.
Balancing between security, scalability and decentralisation
Moreover, vertical scaling could address the blockchain trilemma — balancing security, scalability, and decentralisation.
By allocating resources more efficiently and enhancing transaction capabilities, vertical scaling could provide industries like online casinos with robust, scalable solutions that do not compromise on security or decentralisation.
Vertical scaling offers a promising future, transforming how blockchain technology is applied across various sectors and paving the way for more efficient and user-friendly applications.
- MicroStrategy wants to hire a Bitcoin software engineer to build a software-as-a-service (SaaS) platform on the Lightning Network.
MicroStrategy, a top business intelligence firm that’s the largest corporate holder of Bitcoin (BTC), is looking to hire a software engineer to help build a Lightning Network-based enterprise platform.
Bitcoin software engineer to build SaaS platform
On Friday, the US-based technology company announced it was on the hunt for an individual who will be tasked with developing a software-as-a-service (SaaS) platform.
According to the firm, the new platform will offer innovative solutions around cyber-security challenges to enterprises as well as enable new e-commerce use-cases.
“The engineers at MicroStrategy are working on some exciting new Lightning apps to help our enterprise customers secure networks, monetize websites, and deploy wallets en masse using Bitcoin,” MicroStrategy Executive Chairman Michael Saylor tweeted, urging those interested in joining the team to apply for the position.
Among other qualifications, one is required to have experience in developing software solutions that leverage the Bitcoin blockchain and Lightning Network, or decentralised finance (DeFi) technologies.
Saylor left his role as MicroStrategy CEO early last month to become the Executive Chairman, stating at the time that he was taking the step to focus more on the company’s Bitcoin strategy.
Just this month, the company purchased an additional 301 bitcoins to bring its total holdings to 130,000.
On Tuesday (May 17), an IT engineer explained why he quit his “comfortable and secured job at Capital One to help build out Cardano.”
“$papagoogse” describes himself on Twitter (where his ID is “@PapaGooseCrypto“) as “Master Platform Engineer Finance – Cloud Computing – Platform Systems.” According to his Twitter bio, he is currently CIO at Kora Labs.
Kora Labs is “a cutting-edge software development agency building robust and resilient Web3 products and protocols on the Cardano blockchain.” Their team has “a combined 50+ years of engineering experience on enterprise scale solutions, including staking and mining expertise on Cardano and Ergo.”
They currently have a product called “ADA Handle“, which is “An NFT-powered naming solution for your Cardano wallet address, secured entirely on-chain via the Handle Standard.”
Here is how ADA Handle works:
“Each Handle is a unique NFT, minted and issued on the Cardano blockchain. These NFTs act as unique identifiers for the UTXO that they reside in. With a predictable standard, dApp developers can query the Cardano blockchain at any time to determine the current residing address of a Handle.
“Unlike many other routing services on Ethereum, Handles are secured entirely as native assets on the Cardano blockchain, on the Layer 1 ledger. This means we don’t require smart contracts for address routing, ensuring that even in the event of an unlikely smart contract bug, routing will always be accurate — 100% of the time.
“The Handle Standard supports version upgrading and backwards compatability. Once a version change happens, Partners are notified of the new version’s Policy ID. Lookups happen from most recent Policy ID to the first, incentivizing upgrades among users to ensure faster retrieval results. This allows the Handle Standard to evolve with the broader Cardano ecosystem.“
Yesterday, he explained in a Twitter thread why he had chosen to leave his TradFi job at what seems like “the worst time to be making a change like this.”
The IT engineer went on to say:
“I have been a systems and platform engineer for nearly three decades. More specifically in TradFi for a third of that. I had front row seats to the rise of both Web1 (beginning internet) and Web2 (smartphones/social).
“I can see clear as day the rise of Web3 and the importance of blockchain in changing the financial landscape. The constant and nonsensical churn of the current economy only solidifies and expedites that resolve.“
“The fledgling crypto world is inundated with finance bros, whales, cash grabs, and poorly planned tech. But there are some gems. Cardano is one of them.
“I believe Web3 and DeFi will be supported by many different blockchain technologies, and Cardano will be the archetype of the most successful of them.“
He close his thread by singing the praises of Cardano ($ADA) and IOG:
While answering questions from the people who replied to this thread, he gave some details about his programming background:
He also revealed what he will be focusing on at his new position:
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Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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Two months after announcing its plans to bring a Bitcoin hardware wallet to the market, Jack Dorsey’s Sqaure Inc is taking further initiatives. Recently, Dorsey tweeted that his company is looking to hire a hardware wallet engineer who will help them build a non-custodial crypto wallet.
The development for the same will be completely open-source and the details will be all in public. Thus, if you’re the right fit for the job you can be a part of Square’s team.
Help us build a non-custodial hardware wallet for hundreds of millions of people. All in the public, all open-source.
#Bitcoin https://t.co/AovrWjMYvZ
— jack
In its job listing, Sqaure Inc has explicitly mentioned its requirement for the job. The job description reads:
We’re making a hardware wallet for the next 100M bitcoin users. Our goal is economic empowerment — starting with bringing easy-to-use, reliable self-custody to a global audience.
We’re assembling a team deeply experienced in an extremely wide range of disciplines, including business, operations, design, software, hardware, security, and so many other aspects of product delivery. Come build the future of crypto-enabling hardware with us!
Square’s Crypto Initiative
Jack Dorsey is an ardent supporter of Bitcoin and crypto technology and so his company has initiated some key initiatives in the crypto space. Recently, the company clocked 3x growth in Q2 2021 with its Bitcoin revenue shooting at $2.72 billion.
The company has invested more than $220 million in Bitcoin over the last year. In its report, the company noted that “as of June 30, 2021, the fair value of our investment in bitcoin was $281 million based on observable market prices, which is $127 million greater than the carrying value of the investment.”
Last month, Jack Dorsey also announced that Square will be building a DeFi ecosystem atop the Bitcoin blockchain network. Square shall be building an “easy to create non-custodial, permissionless, and decentralized financial services,” noted Dorsey.
Earlier this week, Square also acquired Australia-based fintech company Afterpay for a massive $29 billion in a cash + stock deal.
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.
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