Shiba Inu Falls 13.23% Weekly as Internal Divisions Hinder Growth AInvest
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How Dogecoin’s rising supply in profit could hinder DOGE’s rally FXStreet
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Bullish Dogecoin Price Signals Target $5 — Will Declining CVD Hinder Rally? The Coin Republic
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The crypto market now eagerly awaits the US FOMC and Fed Chair Jerome Powell’s speech as optimism soars after Donald Trump’s presidential win. The investors are betting towards a 25 bps Fed rate cut later today, with many anticipating these developments to send Bitcoin price to $100K soon. However, despite that, some have issued warnings over the event’s potential to spark volatile trading in the market.
So, here we explore the potential factors that could impact the BTC rally in the coming days.
Will US FOMC Trigger Volatility In The Crypto Market?
The market participants are bracing for the upcoming US FOMC which is expected to shed light on the current economic health of the US. Besides, the rate-cut decision is also likely to impact the market sentiment, with many expecting a 0.25% point decrease by the US central bank. According to the CME FedWatch Tool, there is a 99% chance of a 25 bps point cut by the central bank, with another similar announcement expected in December.
However, despite this positive expectation, some are staying on the sideline seeking further clarity on the market trends. For context, many crypto market experts anticipate potential volatility after the Fed Chair Jerome Powell’s speech.
For context, in a recent post, crypto market expert and Bitcoin Maxi AlphaBTC remained cautiously optimistic, while expecting a quarter-point cut by the Fed. He noted that Jerome Powell’s note will play a key role in shaping the market sentiment ahead. A hawkish tone could signal recession fears, while a dovish stance might help the “TrumpRally” to continue.
Besides, Powell’s view on the newly elected US President Donald Trump will be also watched closely, especially as Trump has criticized the central bank several times before. On the other hand, Elon Musk’s D.O.G.E. initiative is likely to target the US Fed in the coming days, sparking market optimism. It has also fueled discussions over a robust Dogecoin price rally in the coming days.
Bitcoin Price Rally To $100K Imminent?
Although the market anticipates short-term volatility following the US FOMC and Fed Chair Jerome Powell’s speech, many crypto experts are optimistic about a swift rebound ahead. A flurry of analysts have shared a bullish outlook on BTC price, anticipating a clear crypto regulation under Trump’s presidency.
As of writing, Bitcoin price was up 1.5% to $ 74,828, after touching a ATH of $76,460.15 in the last 24 hours. Besides, BTC Futures Open Interest rose nearly 4% since yesterday, hinting at a bullish sentiment hovering in the market.
In addition, the anticipation over Bitcoin Strategic Reserve in the US has sparked market optimism. With Wyoming Senator Cynthia Lummis recently reiterating her stance on making BTC a strategic reserve, which Trump also committed earlier during his presidential campaign, the expectations are high over a potential rally.
Meanwhile, a recent report from Matrixport also hints towards a potential BTC rally to $100K. The report suggested that with the potential exit of the US SEC Gary Gensler and Bitcoin US Strategic Reserve, the crypto is poised to hit $100K soon.
Can BTC Face Selling Pressure Ahead?
The US FOMC is likely to spark some volatility in the market, which may weigh on the ongoing Bitcoin price rally. Besides, recent developments indicate that many investors are shifting their focus from the flagship crypto to altcoins like Ethereum, sparking concerns in the market. This growing interest in the top altcoins appears to have weighed on some traders’ sentiments.
In addition, in a recent X post, CryptoQuant Founder and CEO Ki Young Ju also suggested a potential BTC selling in the coming days. He noted that new investors might take the ongoing rally as a profit-booking opportunity, which might hinder a robust rally in the crypto’s price. Ki Young Ju stated:
New investors often hold $BTC through bear markets, enduring losses.
After about two years, it changes hands when pain eases. That time is now.
It could go up +30-40% from here, but not like the +368% we saw from $16K. Time to consider gradual selling, not all-in buying, imo.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
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.
Over 1 Million Cardano Addresses May Hinder ADA’s Bid to Break $1 BeInCrypto
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Key metric may hinder Shiba Inu’s potential for a rally FXStreet
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BitMEX Co-Founder Arthur Hayes recently highlighted Hong Kong and China’s impact on the Western adoption of U.S. Bitcoin ETFs. In a blog, he predicted potential challenges and competition for the U.S. Bitcoin ETFs in Western markets. In addition, Hayes noted that similar products are slated to be launched in the West, posing a threat to the expansion of Bitcoin ETF adoption.
Hong Kong & China To Promote Local Products
China’s plan to launch a similar ETF in the Hong Kong financial markets signifies a strategic move to capture flows within the Asia Pacific. Moreover, Hayes suggested that while China is likely to mirror the U.S. ETF model, Hong Kong’s regulatory stance may introduce complications.
Furthermore, he pointed out that Hong Kong, aiming to be a digital currency hub, will only permit its listed ETFs to trade on regulated exchanges within its jurisdiction. Hence, this limitation could impact the flexibility of fund managers in the U.S. It would restrict their ability to trade Bitcoin (BTC) at the best prices and potentially create market inefficiencies.
Hayes suggested that if Hong Kong limits fund managers to trade only on select exchanges, it could potentially create arbitrage opportunities for traders. This restriction may lead to market inefficiencies, allowing arbitrageurs to profit from price differentials between less-liquid exchanges in Hong Kong and their larger Eastern counterparts.
Also Read: Spot Bitcoin ETF: Vanguard Reps Apologizing for Crypto Stance
BlackRock: The Winner In Spot Bitcoin ETF Race
Hayes believes that the approval of a Bitcoin ETF is a financialization tactic employed by prominent institutes to keep capital within the traditional financial system. He drew parallels with the gold market, where ETFs were created to supposedly hold gold bars in vaults worldwide. Hayes added that the key player in this scenario is Blackrock, the world’s largest asset manager.
The former BitMEX CEO highlighted the strangeness of the approval process. He pointed out that the SEC denied the Winklevoss twins’ Spot Bitcoin ETF application for over a decade, while Blackrock gained approval within six months. He questioned the timing of this approval amid uncertainties in the global bond market.
In addition, he noted the possibility of central banks resorting to money printing. Thereafter, Hayes predicted that Blackrock’s Bitcoin ETF would dominate the market due to its global distribution platform. In addition, he noted that the 11 Spot Bitcoin ETFs could see inflows worth billions of dollars via TradeFi.
Also Read: BlackRock CEO Backs Ethereum ETF After Bitcoin Success
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.
The Revolution is Coming: Will AI Help or Hinder Dogecoin, Shiba Inu, or Dogetti? Analytics Insight
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Dogecoin Year End Predictions: Why experts think Dogecoin $1 Rally in 2023 is impossible?
Dogecoin Year End Predictions: Dogecoin’s early 2021 surge has left many investors and enthusiasts wondering whether the rally to $1 this year is feasible. According to Forbes, the meme-based asset achieved a new all-time high in the second week of May last year, of over $0.73 after recording a 95% over the following week. The price of Dogecoin is still too low, and most people are now wondering if it will ever hit $1. To put things into perspective, let’s look at Dogecoin’s current price and performance so far.
Dogecoin’s (DOGE) price action over the last 24 hours shows that the coin has been making lower lows at each peak. This could be seen as a symmetrical triangle pattern, which is typically a sign of consolidation before the price either breaks above or below the range.
At press time, DOGE price has dropped slightly to around $0.07524, down 0.83% in the last 24 hours. The near-term technical indicators suggest a possible pullback in the upcoming hours.
The relative strength index (RSI) is currently at 38.16, which indicates that DOGE is on the brink of forming a bearish divergence. The MACD has also started to move lower after reaching above zero.
Dogecoin Price Prediction: Dogecoin $1 Rally in 2023 seems impossible
The consensus is that Dogecoin is likely to do much better longer-term compared to 2022. Based on Dogecoin price prediction, DOGE is to trade at $0.30 by the end of 2022, $0.77 by 2025, and $1 by 2030.
While Dogecoin’s past price action is a factor to consider when analyzing its price potential, it is also essential to be aware of the market factors likely to play a role in its price action.
Understanding the factors that drive the price of Dogecoin can help answer the question, ‘Is Dogecoin a good investment?’
One of the most important factors likely to impact the price of Dogecoin going forward is Bitcoin. Bitcoin is the number one cryptocurrency and tends to pull the market in its overall direction. For context, other factors played a role in Dogecoin’s rally in 2020/21. For instance, Bitcoin’s rally from $20k to $64k had the most significant role. Proof of this is that Dogecoin had a correction after the Bitcoin bear run started in May 2021.
The other factor likely to play a role in Dogecoin’s price action going forward is Elon Musk. Musk has been one of the essential pillars of Dogecoin’s price action over the last two years. Besides his tweets creating excitement in the community, ELON has pushed hard for Dogecoin’s adoption. He has been leading from the front on Dogecoin adoption. His company, Tesla, now accepts Dogecoin for some of its merchandise.
Then there is the issue of cryptocurrency prices. Bitcoin and Ethereum are considered cryptocurrency blue chips. However, these two are now out of reach for many small investors. For instance, while someone can buy $100 worth of Bitcoin, the amount of BTC they get is negligible when you factor in fees.
For this reason, small investors have been looking into cheaper cryptocurrencies to buy now for maximum profits. Dogecoin is one of the cheapest, and with just $100, you can get a sizable portion of Dogecoins. You can also expect a significant ROI if the price hits some of the analysts’ long-term projections.
Another factor likely to play into Dogecoin’s value going into the future is its high levels of decentralization. If there is anything the Terra event has shown investors, it is that true decentralization is the way to go. Dogecoin happens to be one of the most decentralized cryptocurrencies out there. It is easy to mine, and hundreds of thousands of PC owners worldwide mine DOGE. This makes it a secure network, an attractive feature for long-term cryptocurrency investors.
It is also noteworthy that the Dogecoin community is on a growth trajectory. This is a big deal because as the community expands, so does awareness about Dogecoin. In future cryptocurrency hype cycles, Dogecoin is likely to draw in more new investors, which is good for its long-term price appreciation.
Whale Activity Could Hinder Bitcoin Breaking Its $24800 Support Level. What About Cardano and PrivaCrip? This is a sponsored advertising post. Nothing in this content should be construed as advice, it is meant for informational purposes only.
Although the market has finally made a U-turn, much turbulence is still far ahead. Namely, the largest cryptocurrency by market capitalization needs to break its next support level before it can pave the way for the rest of the crypto flock to follow in its footsteps.
The $24800 mark does not seem very difficult to reach but be not fooled, my friend; the crypto game of volatility is a ruthless activity where even the slightest change along the graph can either make you go big or go home. Let’s dive in.
Whales In Deep Waters
The data from TradingView showed that overnight BTC/USD fell under the $24,000 mark after rejecting near $24,200. The pair has seen some significant gains in the past week, but the momentum faded, leaving Bitcoin bulls at the crossroads. Indeed, bulls failed to reclaim new ground or even fully challenge the highs seen at the end of July. At the time of writing, BTC/USD was consolidating near $23,800, showing little promise to travel north, at least for now.
It is safe to assume that the price of forming resistance levels for Bitcoin (BTC) to overcome is part due to whale activity. A Twitter account’s Whalemap update, which closely monitors buying and selling large-volume players within crypto that usually establish support and resistance levels, revealed different prices at which BTC aggregate supply moved.
The results were somewhat expected, with the team releasing a statement saying that based on the activity of BTC belonging to particular whales leaving their wallet, for the bulls to continue the upward run, it would be essential to break the $24,425 support level.
Cardano (ADA): Long Live The Ethereum Killer
The days when Cardano (ADA) was on the rise became distant relics of the past. In fact, the last time this cryptocurrency enjoyed a decent holiday up north was when at the end of May 2022, the tokens price soared by more than 29%. Since then, little has changed to prevent the price from travelling south.
Even the long-anticipated Vasil hard fork was delayed yet again, leaving supporters of the most academic cryptocurrency disenchanted. However, not all is lost for the seventh largest cryptocurrency by market capitalization, which is still down by more than 80% since its peak.
According to the data tracker WhaleStats, in the past 24 hours, the Cardano (ADA) was one of the top 10 most traded assets among the top 4,000 BSC whales. The moves behind such massive purchases are still unknown, but they could be connected to profit in the short-term investments before the Vasil hard fork. Considering that Cardano’s (ADA) price is below $1, the potential for it to spike after the upgrade looks pretty probable.
PrivaCrip (PRCR): Privacy That Inspires
Although PrivaCrip (PRCR) is the new kid on the crypto block, this project has much potential due to its unique value proposition. It is no secret that personal data and information are one of the most valuable assets in modern-day society and the crypto domain is no exception. Especially with Web 3.0 development on the way, with industries like DeFi and GameFi, users’ personal data truly becomes the most lucrative way of making money for the big corporations.
Realizing such a shortcoming, PrivaCrip (PRCR) decided to create a private network where users and not central authority would control their data. This default privacy setting would enable encoded information to be represented as tokenized data. By utilizing this data, users of this PrivaCrip network could develop many new use cases for Web 3.0 and DeFi in particular. At the heart of the project is its native token PRCR, which can be used for governance initiatives, transactions and gas fees.
Looking Ahead
Although the whale activity will temper the Bitcoin’s movement, the $24800 resistance level will be crashed faster than the Allies defeated Hitler’s army. Jokes aside, the future of Bitcoin (BTC) looks promising, with little bumps expected along the way.
The Cardano (ADA) case is more puzzling, but the Vasil upgrade should finally settle if the “Ethereum’s Killer” rightfully received its name. Meanwhile, PrivaCrip looks like a promising hand with a unique value proposition in place.
If you are interested to learn more about the project, please visit its website.
PrivaCrip (PRCR)
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