Cryptocurrency
Analyst Gives Bullish Bitcoin Price Outlook – Could Crypto All-Stars Also Explode?
With Q4 2024 about to begin, excitement is building in the crypto market.
One well-known analyst has even issued an enormous price prediction for Bitcoin (BTC).
Crypto All-Stars (STARS) is also generating attention – but can it really explode as many expect it to?
Analyst Predicts Bitcoin Could Surge to $110,000
CryptosRUs, a popular analyst with over 760,000 YouTube subscribers, has the crypto community buzzed with his latest prediction.
In a recent video titled “The Bitcoin Banana Zone is Here,” he laid out a strong case for why Bitcoin could be about to rally.
CryptosRUs pointed to a few key factors that suggest bullishness is ahead.
First, he noted that over $1 billion has flowed into Bitcoin in the past two weeks, mainly thanks to continued interest in the spot BTC ETFs.
These inflows are creating a supply crunch that could keep pushing price higher.
Second, he highlighted a bullish crossover on the 5-day chart, suggesting Bitcoin could see a 70-79% rise.
If things play out as they have in the past, CryptosRUs believes Bitcoin might hit the $110,000 level before the end of the year.
That would represent a 72% increase from the coin’s current price.
Unsurprisingly, this bold call has caught the attention of investors.
Wall Street Warms Up to Bitcoin as Supply Tightens
CryptosRUs went beyond just Bitcoin price predictions.
He also explored some trends that could shake up the entire crypto market.
One key point was that BNY Mellon recently got SEC approval for Bitcoin custody services.
This isn’t just a win for one bank – it’s a sign that Wall Street as a whole is warming up to crypto in a big way.
CryptosRUs also pointed out a major milestone: one million wallets now hold at least one BTC.
That’s seen as a strong indicator of Bitcoin’s growing popularity worldwide.
And then there’s the supply constraints.
Unlike previous cycles, the amount of Bitcoin available on exchanges is dropping fast.
With fewer coins to go around, BTC’s price could rocket.
However, CryptosRUs did display some cautiousness, too.
He didn’t endorse Plan B’s wild $1 million BTC prediction, believing such a forecast is out of the realms of possibility.
Still, it’s clear he’s bullish on Bitcoin overall.
And if his own $110,000 target comes to fruition, it’ll likely have a positive impact on the market as a whole.
Crypto All-Stars Presale Continues Growing as New MemeVault Staking App Draws Praise
Alongside Bitcoin, the presale project Crypto All-Stars could also be worth watching.
This project has raised over $1.8 million in presale – and it’s quickly becoming one of the hottest upcoming crypto launches.
So, why all the buzz?
It’s because of the project’s new MemeVault feature, which is a staking protocol designed to unite meme coins “under one roof.”
Using MemeVault, investors can stake top meme coins and earn STARS in return.
And the potential rewards are eye-catching.
APYs are estimated at 815% at the time of writing – although that figure will decrease as investors lock up more coins.
That hasn’t stopped investors from getting excited about Crypto All-Stars’ future.
The project now has an enormous following on Twitter and Telegram, with community members eager to see how STARS performs when it hits the open market.
Crypto All-Stars has also been ranked third on ICOBench.com.
While it’s too early to say if STARS will benefit from Bitcoin’s bullishness, this new meme coin is one that many investors are keeping an eye on.
STARS has caught a lot of momentum – and the MemeVault feature could be the key to long-term growth.
Visit Crypto All-Stars Presale
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XRP seems to have found support around 50 cents. Can buyers push the price higher this week?
Key Support levels: $0.50
Key Resistance levels: $0.54, $0.68
1. Price Finds Support
After a sharp fall last week, bulls appear to be back. XRP opened this Monday in green and is keen to return on an uptrend. As long as the key support at 50 cents holds, buyers have a good chance to return on the offensive.
2. Sellers are Retreating
Early October saw a spike in sell volume, but now sentiment across the market is improving, which could see the momentum shift back into the bulls’ favor. If so, buyers can aim to take XRP back above 60 cents. However, once there, sellers could return, as in late September.
3. MACD Momentum Shifting
After a difficult start this month, the momentum on the daily MACD is showing the first signs of a reversal, with a histogram making higher lows. If this trend continues, buyers could soon take over the price action and push XRP to break higher again.
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The price of Bitget’s BGB token unexpectedly dropped by 50% on the morning of October 7 before beginning to recover.
The platform has announced that it will compensate users for any losses resulting from the sudden volatility, which is still under investigation.
Exchange Promises Full Compensation
According to CoinGecko data, the incident saw the token’s value fall from $1.14 to $0.64 before staging a quick recovery. In a post on X, Bitget addressed the situation, saying, “BGB experienced unexpected volatility today due to market conditions, but the price has quickly stabilized.”
The platform reassured its users, promising to fully compensate for any asset losses. It also announced that a detailed compensation plan would be released within 24 hours, with the entire process set to be completed within 72 hours.
Bitget CEO Gracy Chen reiterated this message in a separate X post:
“The incident is still under investigation, but I want to assure everyone affected that we will not let any Bitget users suffer losses.”
Chen emphasized that Bitget’s overall standing remains strong, noting that the platform achieved a global market share of 11% in the third quarter of 2024, making it the fourth-largest exchange globally. Additionally, it boasts an asset reserve exceeding 176% and holds the second-largest protection fund globally, which is designed to compensate users quickly in the event of such incidents.
The Nature of Flash Crashes
Meanwhile, this incident mirrors a past development that occurred earlier this year with OKB, the native cryptocurrency of the OKX exchange. The token faced sudden price collapses, falling from a high of $48 to $25 within hours. The event was reportedly triggered by several large leveraged position liquidations, leading to further sell-offs and price declines.
At the time, OKX responded by reassuring its users that it would compensate them for the losses incurred from the unusual liquidation. While OKB’s crashes were linked to market-wide volatility, Bitget has yet to pinpoint the exact cause behind today’s event.
A cryptocurrency “flash crash” occurs when several holders rapidly sell a specific crypto asset, surpassing buyer demand and causing the price to drop sharply in a short amount of time. Unlike a typical collapse, the price usually recovers quickly, often returning to a level close to where it started.
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[PRESS RELEASE – Dubai, UAE, October 7th, 2024]
On October 22-23, the Blockchain Life 2024 forum will take place in Dubai. Over 10,000 participants from 120 countries will come together for the crypto event to share industry insights on the eve of Bull Run 2025.
Participants will hear from leading voices in the blockchain space, who will share market analysis on market trends and potential future developments.
Confirmed figures include:
- CEO Tether – Paolo Ardoino
- Co-Founder Animoca Brands – Yat Siu
- CEO Ledger – Pascal Gauthier
- CEO Cardano Foundation – Frederik Gregaard
- CEO Dubai Blockchain Center – Dr. Marwan Alzarouni
- Co-Founder Litecoin Foundation – Xinxi Wang
- CEO Vechain – Sunny Lu
- CEO of dYdX Foundation – Charles d’Haussy
- Founder Listing.Help, Jets Capital – Sergei Khitrov
- Founder DWF Labs – Andrei Grachev
- Co-Founder Tezos – Arthur Breitman
- CEO Trust Wallet – Eowyn Chen
- Co-Founder Osmosis Labs – Sunny Aggarwal
- Co-Founder of Sui (Mysten Labs) – Kostas Chalkias
- Head of Investments at Maelstrom Fund – Akshat Vaidya
- Founder Notcoin – Sasha Plotvinov
- Co-Founder, CEO Celestia Labs – Mustafa Al-Bassam
- Google Cloud – Tiago Henriques
- Program Lead MetaMask – Zied Brini
In addition to the lineup of speakers, Blockchain Life 2024 is also set to include behind-the-scenes discussions that will provide an opportunity for networking and exchanging information on the latest advancements in the sector.
The forum is coming soon. Readers can purchase tickets with a 10% discount using promo code chainwire.
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