Cryptocurrency
11 Bitcoin Halving Cycle Protips From Crypto X (Twitter)
The future is not assured until it has passed, but successful cryptocurrency investors have relied on how powerful the recurring patterns are in these historical trends.
Here are 12 Bitcoin halving cycle protips from crypto influencers on X, the social media website formerly known as Twitter.
1. It’s Still Early On This Halving Cycle
Like clockwork 😄 #Bitcoin pic.twitter.com/BrZRDsgsLN
— Thomas | heyapollo.com (@thomas_fahrer) March 2, 2024
It may feel strange to traders to step out into new waters and make long entries in BTC right after a new all-time high. But as seasoned traders know, and as you can see from the Bitcoin price chart going back to 2013 above, it’s early.
Set stop losses, make trading plans, and stay updated on the market and news, but a timid buyer will miss the results of an enormous price increase on crypto exchanges if Bitcoin follows the four-year pattern it has for the past three cycles.
2. Never Short Bitcoin
#Bitcoin is going to infinity. pic.twitter.com/leEsbRkG37
— Sriram (@sriramHODL) December 30, 2023
It is downright dangerous to short Bitcoin. Investors can easily lose all the money they have in such a risky operation. When you short-sell Bitcoin just like with stocks, you are exposed to losses based on how high markets take the price.
Bitcoin’s price moves up abruptly and violently on a regular basis, sometimes charting double-digit percentage gains in a single day of trading. As a result, Bitcoin short traders can easily lose all the money in their portfolios.
3. Bitcoin vs. Gold vs. Savings
Should I put $100 a month into stocks, gold, or Bitcoin? pic.twitter.com/E1gLa2XIAd
— Tom Crown (@TomCrownCrypto) December 29, 2023
Bitcoin has incredibly, drastically, staggeringly, almost miraculously outperformed spot gold prices and savings account returns. Because the difference is so great, it has ironically put off many potential adopters.
Many believe it is too good to be true without some kind of catch as a result of the ROI investments in Bitcoin have yielded. They’re used to the world before the Internet when that was truly impossible.
But today, with everything connected, it was possible to get the kind of velocity of money and the momentum to generate that level of growth, especially for a disruptive financial product with a high-value proposition.
4. Halving Is Killing Available Supply
The #Bitcoin halving is in about 80 days.
Here’s how #BTC performed after all previous halvings: pic.twitter.com/s4xYFlBVy9
— Rajat Soni, CFA (@rajatsonifnance) February 2, 2024
It is good for fundamental analysts and long-term thinkers to be aware that the supply of Bitcoin available for trade on exchanges has been decreasing since the third halving. That’s a sea change in the fundamental calculus of the economics underlying Bitcoin prices.
Bitcoin supplies on exchange increased up to the first three halvings. After the second halving, available supply fell some, but got back to increasing again well before the third halving. After the third halving, however, trading supplies fell and did not stop falling.
If you predict BTC prices based on supply and demand, that is incredibly bullish for spot Bitcoin holders with their hard wallets, crypto exchange Bitcoin traders, and their respectable friends, with 1.5% of their portfolio moving into a spot ETF with Fidelity or BlackRock.
5. Halving Cycle Calendar
It’s around that time.
V
Happy New Year! ✨ pic.twitter.com/4clbUO12pm
— Root 🥕 (@therationalroot) December 31, 2023
6. Bitcoin Maximalist Timeline
#Bitcoin is the next world’s reserve currency & it’s the end of the cycle. The final monetary revolution. pic.twitter.com/qifw8r5lxB
— Thomas | heyapollo.com (@thomas_fahrer) January 11, 2024
7. 2030 Price Target: $682K
2030 #Bitcoin Price Target.
– Ark Invest pic.twitter.com/3ufHg5wnkS— Stamp Seed 🔨 (@Stamp_Seed) January 10, 2024
8. Polaroid Infographic: Still Short Bitcoin
men will make 7 figures in a bull market and live like this pic.twitter.com/w4dJJzgBFh
— LilMoonLambo (@LilMoonLambo) January 17, 2024
9. 21 BTC for Every 8,000 People
Not bullish, yet? 🔥 #bitcoin pic.twitter.com/X7JiAYWklU
— Glocke 🧡 (@Kluckies_) January 25, 2024
10. Bitcoin vs. Dollars
80% of all dollars were created in the last 5 years.
Have a good night.#bitcoin pic.twitter.com/pt3jYXTdMB
— 🏔Adam O🏔 (@denverbitcoin) March 1, 2024
11. Bitcoin vs. Gold
#BTC vs Gold pic.twitter.com/PlEf00aRiY
— naiive (@naiivememe) March 1, 2024
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Cryptocurrency
2 Bullish and 2 Bearish Shiba Inu Signals as the SHIB Price Consolidates
TL;DR
- Shiba Inu’s spike in large transactions and increase of investors currently in profit suggest the meme coin could be headed for further gains in the near future.
- On the other hand, slight drop in network growth and a 50% decline in SHIB’s burn rate indicate potential challenges ahead for price momentum.
Showing Mixed Signals
Shiba Inu (SHIB) has been rallying in the past week, witnessing a price jump of around 9% for that period. However, it stalled its progress in the past few days and even flashed red on a daily scale. Currently, it trades at around $0.00001441 (per CoinGecko’s data).
There are two factors hinting that the meme coin may soon head north again. The first is the spike of large SHIB transactions volume (where each transaction exceeds $100,000). According to IntoTheBlock, the figure surpassed $20 million in the past 24 hours, representing a 170% increase compared to the amount observed on September 23.
Such large transactions often indicate the involvement of whales. Increased activity from those investors with significant holdings can be seen as a positive sign from smaller players and encourage them to enter the ecosystem, hence injecting fresh capital.
The next bullish sign is the “In the Money” metric, which is up 4.3%. The technical analysis tool measures the change in the number of SHIB investors currently sitting on paper profits. As of now, 48% of all Shiba Inu investors are in the green, while 51% are underwater. Only 1% of those exposed to the meme coin are break-even.
Conversely, two bearish elements suggest that SHIB’s valuation might be poised for a correction. For instance, Net Network Growth (a momentum signal that gives “a pulse of the true growth of the token’s underlying network”) is down 0.17%.
Shiba Inu’s burning mechanism is also on a downtrend. The burn rate has fallen by almost 50% in the past 24 hours, resulting in less than 8 million tokens sent to a null address.
The program’s ultimate goal is to reduce the huge circulating supply of SHIB and thus propel a price increase (assuming demand keeps its levels or rises). Currently, there are over 583 trillion tokens in circulation, with 410 trillion already destroyed over the past few years.
SHIB Predictions
Some analysts are quite optimistic about Shiba Inu’s future, envisioning somewhat wild targets. JAVON MARKS recently argued that the asset’s uptrend witnessed after the US Federal Reserve lowered interest rates could be the starting point for a rally to as high as $0.000081.
Another X user, using the handle pepa, was even more bullish, claiming SHIB might erase two zeroes from its valuation in the near future based on the formation of a specific triangular shape on the price chart.
It’s important to note that for this kind of massive surge to happen, the market capitalization of the meme coin would need to hit around $800 billion.
Currently, Bitcoin (BTC) is the only cryptocurrency that exceeds that level, making this prediction very improbable.
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Cryptocurrency
This Is Why Bitcoin Surged Above $64K, Can it Go Higher? (Bitfinex)
Last week, the Federal Reserve reduced its interest rate by 50 basic points, allowing increased cash flow in the United States. Two days after the rate reduction, bitcoin’s price surged past $64,000, reigniting confidence in the market.
According to Bitfinex’s latest weekly report, the jump in BTC price was influenced by increased activities within the futures and perpetual markets rather than the spot market.
What Triggered Bitcoin’s Latest Price Surge?
The report noted that bitcoin’s open interest drove the latest surge instead of spot trading, implying that the futures and perpetual markets saw the most investor engagement. The exchange’s analysts added that the crypto asset’s open interest “outpaced the price gains of BTC itself.”
According to on-chain data from the blockchain analytics platform Coinglass, bitcoin’s open interest recently attained $34.9 billion, the highest seen since early August.
Bitfinex analysts added that an increased engagement with the spot Bitcoin exchange-traded fund (ETF) could drive the leading cryptocurrency to reclaim prices closer to its peak value of $73,800. Over $397.2 million flowed into the U.S.-traded spot Bitcoin ETFs in the past week, proving that BTC price may follow in the uptrend.
The market report explained that the leading crypto asset could unlock the $65,200 price resistance from late August if this trend of Bitcoin ETF inflows continues.
“Should Bitcoin breach the key resistance levels from late August, this could propel the asset towards new highs, coinciding with the end of summer’s low liquidity. However, without sustained spot buying, consolidation or a partial correction seems the most likely scenario,” the analysts said.
Altcoins See Price Increases
Aside from bitcoin, other crypto assets have seen considerable increment within the past month. Bitfinex referenced SUI and AAVE as altcoins that unlocked a 100% price increase in August and September.
On the other hand, altcoins that do not belong to the top 10 coins by market capitalization have not increased, as revealed in an index showing the data. Still, open interest in these assets has soared from $10.74 billion in August to $11.48 billion.
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Cryptocurrency
Bitcoin (BTC) Price Eyes $64K, NEAR Protocol (NEAR) Soars 20% in 2 Days (Market Watch)
Bitcoin’s price tumbled below $63,000 yesterday, but the bulls seem back in control as they have pushed the asset toward $64,000 once again.
Most larger-cap altcoins are sluggish on a daily scale, aside from ADA, which has jumped by over 4%, and DOT, which has added just under 4%.
BTC Aims at $64K
After the slow start to the previous week, when it dropped to $57,600, bitcoin experienced a true rollercoaster by the end of the five-day trading period that ended on Friday, especially during and after the Wednesday FOMC meeting, in which the US Fed announced a 0.5% reduction in the key interest rates.
BTC recorded several substantial price moves before it headed north decisively. In just a few days, it peaked above $64,000 before it lost some ground during the weekend and remained around $63,000.
The bulls went at it again on Monday morning and drove the asset to its highest price level in over four weeks of $64,800. However, it failed to conquer that level and the subsequent rejection pushed it south to under $63,000 yesterday.
Nevertheless, the cryptocurrency has gained around a grand since then and is now close to $64,000. Its market cap has neared $1.260 trillion on CG but its dominance over the alts is just shy of 54%.
NEAR Sees Double-Digit Gains
Binance Coin, Solana, and Cardano have emerged as the top performers from the larger-cap alts today. BNB has reclaimed the $600 level after a 2.6% daily increase, SOL is close to $150 after gaining 3%, while ADA has soared by 5% and stands at $0.36.
Although the rest of the larger caps are also in the green, their gains are a lot more modest. NEAR Protocol’s native token has jumped by 8% on a daily scale and 20% since Sunday and now trades above $5.2.
Other impressive gainers from the top 100 alts include AR (16%), TIA (15%), WIF (11%), LDO (9%), ICP (9%), and STX (9%).
The total crypto market cap has added another $20 billion overnight and is at $2.340 trillion on CG.
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Cryptocurrency charts by TradingView.
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