Toncoin’s recent surge has captured the attention of traders as it approaches the critical resistance level of $6.8, a key pivot point in its price action. The recent momentum seems
CoinOtag 2024-12-03 10:46
A closely followed analyst believes the economy is in the midst of an “everything bubble” that still has more potential to grow. Analyst Jason Pizzino tells his 121,100 followers on the social media platform X that peak cycle highs may still be a ways off for assets like stocks and crypto. “When we take a broad look at the market there are still a lot of investors that are thinking the stock market, real estate and crypto gains so far are ‘too good to be true’ and this time they’re going to get out before the crash. This is NOT how macro, end of cycle tops are formed. The 18-year cycle ‘Everything Bubble’ peak still has more time to develop and bring major FOMO (fear of missing out) unlike what we have seen.” The analyst predicts that Bitcoin ( BTC ) and other assets are gearing up for additional rallies in the bullish market cycle. “Bitcoin, real estate, stock markets and altcoins are setting up for the biggest pump in history. I think it has already started, but there are still plenty of investors asking, ‘When will it start?’ Look around, the markets have been up for years and don’t look like they will stop any time soon. Especially not now that we have a perfect ‘This time is different’ scenario brewing within US politics.” He also says that Bitcoin may now be on the verge of entering an explosive phase of the market cycle based on historic precedence. “The Bitcoin four-year cycle has officially entered the right side of the cycle, which means this is a strong market. Three out of the current four cycles have fooled the majority of people into thinking the cycle would end early, aka a left-translated cycle like in 2011, 2019, and most recently 2024. Each time, Bitcoin has gone on to make a new all-time high in the second half of the four-year cycle, the ‘right’ side. This now means we enter what I’m calling ‘The Final Boss,’ or ‘Grand Final.'” Source: Jason Pizzino/X Bitcoin is trading for $95,799 at time of writing, down 1.9% in the last 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto, Stocks and ‘Everything Bubble’ Still Has Room To Run, According to Analyst Jason Pizzino appeared first on The Daily Hodl .
The Daily Hodl 2024-12-03 10:04
As the Bitcoin price consolidates just below its all-time high of $99,540, a significant move by the US government has raised concerns among investors. The government has transferred a substantial amount of its seized Bitcoin holdings to Coinbase, potentially signaling intentions to sell. This echoes similar actions that had previously impacted the market earlier this year. US Government’s Bitcoin Transfer According to market intelligence firm Arkham, the US government moved approximately 10,000 Bitcoin, worth around $1.92 billion at current market prices, to two separate wallets. One wallet contains Bitcoin valued at $969 million, while the other holds approximately $949 million. This strategic allocation has drawn attention, especially given the government’s history of selling seized Bitcoin, which can create notable selling pressure in the market. Data from crypto analytics firm Dune indicates that the US government currently holds a staggering 183,422 BTC, valued at over $17.6 billion. This accounts for roughly 0.93% of the total Bitcoin supply. Should the government decide to sell a portion of these holdings, it could exert significant downward pressure on Bitcoin’s price, reminiscent of previous sell-offs that followed major transfers. A Halt To Government Sales In 2025? Historically, such actions have led to increased volatility. For instance, NewsBTC reported in April, when the Bitcoin price peaked at $73,700, that the government transferred over 30,000 Bitcoin seized from the Silk Road marketplace. This followed a previous seizure of more than 50,000 BTC from James Zhong, who allegedly obtained these funds through illegal means related to the Silk Road in 2012. Following these transfers, Bitcoin experienced substantial price fluctuations and a downward trend over the subsequent months. In 2022, the government also sold 9,800 BTC, with plans to divest an additional 41,500 Bitcoin. This history raises concerns that the latest transfer could lead to a similar outcome, potentially jeopardizing Bitcoin’s recent upward price momentum. However, there are emerging hopes that such moves could be curtailed in 2025. President-elect Donald Trump is expected to assume office on January 20, and he has proposed a strategy that includes making Bitcoin a strategic reserve asset for the US. This approach would involve the government purchasing nearly 1 million BTC rather than selling its current holdings, with plans to use these assets to help reduce the nation’s $36 trillion national debt. This proposal has been introduced in Congress by US Republican Senator Cynthia Lummis under “the Bitcoin Act,” which has garnered bipartisan support . With the recent shift in leadership from Democrats to Republicans securing a majority in the House, there is optimism that this bill could come into effect in the second or third quarter of 2025. At the time of writing, BTC is trading at $96,000, down 0.7% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com
NewsBTC 2024-12-03 09:30
Bitcoin is facing challenges in reaching the $100,000 target. U.S. Continue Reading: Bitcoin Struggles to Reach $100,000 Target Following Market Fluctuations The post Bitcoin Struggles to Reach $100,000 Target Following Market Fluctuations appeared first on COINTURK NEWS .
CoinTurk News 2024-12-03 09:14
According to a recent report from Matrixport, as of December 3rd, analysis of Bitcoin‘s historical performance indicates a mixed trend for the month of December. Over the last twelve years,
CoinOtag 2024-12-03 09:13
Arthur Hayes champions ICOs for decentralizing funding and prioritizing retail investors over institutional interests. Hayes critiques VC-backed tokens and CEX-dominated projects for alienating retail investors with inflated valuations. Hayes advocates
CoinOtag 2024-12-03 08:26
Retail enthusiasm for cryptocurrency has reached new heights in South Korea, with significant trading activity surrounding “high momentum” tokens like XRP and DOGE. The latest report from 10x Research reveals
CoinOtag 2024-12-03 07:43
“There is no price where it makes sense for the US to sell any Bitcoin it has under its control,” said Space Force Major Jason Lowery.
CoinTelegraph 2024-12-03 07:22
Dogecoin has experienced a notable surge, surpassing a $62 billion market cap and reaching $0.44, driven by robust on-chain activity. The digital asset has witnessed an increase in active addresses,
CoinOtag 2024-12-03 07:10
MATIC price is showing positive signs from the $0.580 zone. Polygon is rising and might gain bullish momentum above the $0.70 resistance. MATIC price started a fresh increase above the $0.620 level against the US dollar. The price is trading above $0.650 and the 100-hour simple moving average. There was a break above a short-term bearish trend line with resistance at $0.6350 on the hourly chart of the MATIC/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.680 and $0.700 resistance levels. Polygon Price Aims Higher After forming a base above the $0.5750 level, Polygon’s price started a fresh increase above the $0.600 pivot level. MATIC is moving higher above the $0.620 level, like Ethereum and Bitcoin . There was a move above the $0.650 level. Besides, there was a break above a short-term bearish trend line with resistance at $0.6350 on the hourly chart of the MATIC/USD pair. The pair tested the $0.680 resistance zone. It is now consolidating gains and is well above the 23.6% Fib retracement level of the upward move from the $0.5715 swing low to the $0.6800 high. MATIC is trading above $0.650 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.680 zone. The first major resistance is near the $0.70 level. If there is an upside break above the $0.70 resistance level, the price could continue to rise. The next major resistance is near $0.750. A clear move above the $0.750 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.780 level or $0.80. Another Dip In MATIC? If MATIC’s price fails to rise above the $0.680 resistance level, it could start another decline. Immediate support on the downside is near the $0.650 level. The main support is near the $0.6250 level or the 50% Fib retracement level of the upward move from the $0.5715 swing low to the $0.6800 high. A downside break below the $0.6250 level could open the doors for a fresh decline toward $0.60. The next major support is near the $0.5750 level. Technical Indicators Hourly MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level. Major Support Levels – $0.6500 and $0.6250. Major Resistance Levels – $0.6800 and $0.7000.
NewsBTC 2024-12-03 07:08
Ethereum (ETH) now offers an attractive risk-reward ratio, according to analysts at research and brokerage firm Bernstein. Despite underperforming compared to other major cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP for most of 2024, Ethereum’s strong fundamentals may set the stage for a potential rally. Why Is Ethereum Struggling? Bernstein Analysts Explain Ethereum, the second-largest cryptocurrency with a market cap exceeding $430 billion, may be on the verge of significant positive price action. Bernstein analysts suggest that ETH’s fundamentals remain strong despite its underperformance , making it an appealing investment opportunity. To put Ethereum’s performance into perspective, on a year-to-date (YTD) basis, Bitcoin and Solana have surged 125% and 122%, respectively, while ETH has only managed a 57% increase. In a client note shared today, analysts led by Gautam Chhugani highlighted several factors contributing to Ethereum’s struggles. One issue is that ETH has not established itself as a store of value to the same extent as BTC. Additionally, the leading smart contract platform faces increasing competition from low-latency Layer 1 blockchains such as Solana, Sui, and Aptos. The note also pointed out that Ethereum’s reliance on Layer 2 blockchains, including Optimism, Arbitrum, and Base, often redirects users away from Ethereum’s main chain. This hampers user retention and limits transaction fee growth, creating a headwind for ETH’s price momentum. Is Now The Right Time To Buy ETH? Bernstein analysts argue that Ethereum’s outlook could improve substantially, particularly in light of Republican presidential candidate Donald Trump’s recent election victory. Following Trump’s win, the total cryptocurrency market cap has surged over 45%, surpassing $3.5 trillion. Ethereum has been one of the biggest beneficiaries of this rally, gaining 46% since the election compared to Bitcoin’s 41% and Solana’s 36%. The analysts also noted key developments that could support Ethereum’s growth moving forward. They highlighted the increasing likelihood of staking yield approval in Ethereum exchange-traded funds (ETFs) under a Trump-led, crypto-friendly Securities and Exchange Commission (SEC). The analysts explained: We believe, under a new Trump 2.0 crypto-friendly SEC, ETH staking yield will likely be approved. The analysts added that Ethereum’s current yield rate of 3% could increase to as high as 4% to 5%, which could be an attractive yield rate for investors in a declining interest rate environment. Further, the recently observed growth in Ethereum ETFs in the form of higher inflows could benefit ETH. Although ETH ETFs had a lukewarm launch, they have recently outperformed Bitcoin ETFs in daily inflows. For instance, on November 29, spot ETH ETFs in the US attracted $332.9 million in inflows, compared to $320 million for Bitcoin ETFs. In addition, Ethereum’s transition to a proof-of-stake (PoS) consensus algorithm in September 2023 and the protocol’s burn mechanism have stabilized ETH’s total supply around 120 million. Of these, about 28% is tied in staking contracts while roughly 10% is in lending protocols or Layer 2 bridges. With a high proportion – close to 60% – of total ETH supply unmoved in the past year, the analysts at Bernstein believe the digital asset might benefit from favourable demand-supply dynamics. At press time, ETH trades at $3,644, down 1.8% in the past 24 hours.
NewsBTC 2024-12-03 07:00
The recent surge in crypto trading volumes can be attributed to both regulatory clarity and the potential impact of the US presidential elections. The excitement following the election of US
CoinOtag 2024-12-03 06:22
MATIC Price (Polygon) Sets Stage for Rally, $0.80 In Sight
