Author: Umar Hashmi
How high will Bitcoin’s price go in 2024? Key signals have some interesting findings… Bitcoin might wait till Q3 or Q4 before the bull run continues BTC’s price could hit $101,500 before the end of 2024 Bitcoin’s [BTC] journey to a higher value on the charts might take longer than initially expected. This seemed to be the case after AMBCrypto analyzed a few crucial on-chain metrics. In fact, at press time, it was observed that the number of BTC was falling. This decline could be a sign that most Bitcoin holders are inclined towards accumulating more of the coin, instead of…
Bitcoin’s price action has been sluggish for a few days, but the trend might change soon. Bitcoin’s price dropped by 2% in the last 7 days Market indicators hinted at a few slow-moving days ahead Bitcoin [BTC] began June on a sluggish note as the coin’s price action remained bearish on the charts. However, the slow-moving price action might not be a bearish thing, as this just might be a prelude for a massive rally in the coming days. Bitcoin to turn bullish? Bitcoin’s price action has remained sluggish for quite some time now, which might have made several investors skeptical.…
The SEC might have just undermined its own anti-crypto legal arguments by approving spot Ethereum ETFs. Attorney Carlo D’Angelo explains why. May’s approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC) was the chef’s kiss on what can only be described as a banner month for crypto policy—and the move could severely undermine the SEC’s ongoing crypto crackdown. As the deadline to approve the Ethereum ETFs loomed, a bipartisan group of House of Representatives members sent a letter to SEC Chair Gary Gensler urging the Commission to not only approve the funds, but to also consider approval of “other” digital…
Hash ribbon metric reveals ongoing miner capitulation as hash rate drops 14%. A recent analysis by CryptoSlate indicates that Bitcoin miners continue to capitulate, as evidenced by the hash ribbon metric. Glassnode data shows that the current hash rate, observed on a seven-day moving average, has dropped to 567 exahashes per second (EH/s), marking its lowest point since the post-halving period. This is a significant drop from the peak hash rate of 655 EH/s. Over the past week, the hash rate has declined by 14%, representing the steepest 7-day moving average decrease in Bitcoin’s hash rate since July 2021, during the China mining ban…
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At this moment, Tesla’s Elon Musk holds the title of the wealthiest individual on the planet, as reported by the Forbes Real Time Billionaires list on June 1, 2024. However, there exists a potential future where Bitcoin’s creator, Satoshi Nakamoto, could surpass Musk’s fortune. Given the current value of BTC, the price would need to increase by just 210% for the anonymous creator of Bitcoin to become the wealthiest person globally. Could Bitcoin’s Creator Overtake Elon Musk? A 210% Bitcoin Increase Holds the Answer Elon Musk is a prominent business magnate, investor, and entrepreneur renowned for his transformative impact on the technology…
According to analytics, several prominent crypto influencers hold substantial amounts of money onchain. For example, Tron founder Justin Sun has more than $1 billion in crypto assets. Ethereum co-founder Vitalik Buterin’s associated addresses indicate holdings of $935.25 million in digital currencies. Alongside crypto influencers, celebrities also possess a substantial amount of digital assets onchain. Tracking the Crypto Wealth of Top Influencers and Celebrities If a notable figure publicly shares their wallet addresses, identifying them becomes feasible with simple-to-use blockchain explorers. One of the largest publicly known crypto holders is Tron’s Justin Sun, who holds $1.03 billion in crypto assets according to Arkham…
Ethereum meme coins and utility tokens are two opposite asset categories in the crypto market. Pepe (PEPE) and Floki (FLOKI) are two meme coins that have captured investors with their community-driven hype, viral marketing, and meme culture. Ethereum meme coins are generally known for offering no underlying use case; however, utility tokens like ETFSwap (ETFS) show potential in the market, and we look at why you should buy the utility token over PEPE and FLOKI. Why ETFSwap (ETFS) Is A Better Pick Than PEPE And FLOKI ETFSwap (ETFS) is an emerging token currently on presale, showing potential for massive growth as…
Standard Chartered sees Bitcoin falling to $50,000 near-term amid outflows and tight liquidity, but maintains a bullish long-term outlook with a $150,000 target for 2024. Major global bank Standard Chartered believes the Bitcoin price could see further downside to around $50,000, according to recent comments. Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, told The Block: “BTC’s proper break below $60,000 has now reopened a route to the $50,000-52,000 range.” As of writing, Bitcoin is trading under $57,000 after a steep drawdown from recent highs above $70,000. Kendrick cited both the Bitcoin market and broader macroeconomic factors…