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Here’s Why Bitcoin SV Has Pumped 60% as Traders Say Bitcoin Minetrix Could Explode Next

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Over the past week, Bitcoin SV (BSV) has experienced a significant 60% price pump, defying expectations of continued sideways trading.

BSV is now hovering around the $91.40 level, marking the coin’s highest value since April 2022.

Meanwhile, the hot new altcoin Bitcoin Minetrix (BTCMTX) is heading towards the end of its highly successful presale event – and is being touted as the next coin that could follow in BSV’s footsteps.

Short Squeeze Fires Up Bitcoin SV After Period of Sideways Trading

Bitcoin SV’s remarkable rise over the past week has been primarily driven by a squeeze on short sellers.

According to data from CoinGlass, over $4 million worth of shorts were liquidated in the past 24 hours, contributing significantly to the coin’s upward momentum.

Trading volumes have also escalated dramatically, jumping 512% to reach $723 million as speculators look to get involved.

This development coincides with circulating rumors about potential US regulatory approval of a spot BTC ETF in early 2024.

MicroStrategy’s ongoing BTC accumulation is bolstering this optimism further, with CEO Michael Saylor announcing the purchase of 14,620 more Bitcoins on Wednesday.

This comes when rumors are swirling that US regulators could finally approve a spot BTC ETF in the coming weeks.

All of these elements combine to create a highly bullish environment for cryptocurrencies like Bitcoin SV.

History of BSV – A Brief Overview

Bitcoin SV emerged from a hard fork of Bitcoin Cash (BCH) in 2018 when a group led by Craig Wright broke away to create their own coin.

The “SV” in Bitcoin SV stands for “Satoshi Vision,” reflecting the group’s goal to align more closely with Satoshi Nakamoto’s original whitepaper.

This includes restoring the original protocol, lifting the block size dramatically, and enabling large-scale enterprise applications.

However, many dispute Bitcoin SV’s claims to represent Satoshi’s true vision.

Some critics view BSV as overly centralized around Craig White and his many companies.

Regardless, Bitcoin SV maintains a top 50 market cap, now over $1.7 billion after this week’s pump.

The coin is still trading 81% below 2021’s all-time high, yet there’s now a growing belief that BSV could continue trending upwards now that it’s out of its slump.

Ultimately, only time will tell if Bitcoin SV’s recent surge marks the start of a lasting uptrend or just a short-lived spike.

Hot New Mining Token Bitcoin Minetrix Primed to Follow BSV’s Lead After Raising $6.4m

While Bitcoin SV’s price explosion has turned heads, experienced crypto traders understand that there are often more projects primed to surge.

One such project that’s capturing the attention of early-stage investors is Bitcoin Minetrix (BTCMTX), which aims to democratize Bitcoin mining for all through a novel Stake-to-Mine mechanism.

By staking BTCMTX tokens, users can earn Bitcoin mining credits to acquire direct mining time or a share of mining revenues.

This eliminates the high barriers of entry to traditional Bitcoin mining, allowing anyone to participate.

In addition, Bitcoin Minetrix offers BTCMTX holders the option to stake their tokens in a pool for annual yields of 97%.

Since its September launch, Bitcoin Minetrix’s presale has quickly gained traction, raising over $6.4 million in funding so far.

Once the presale ends, BTCMTX is expected to be listed on several top exchanges, making it accessible to the masses.

Major crypto influencers are already predicting enormous potential for BTCMTX following these listings – with No Bs Crypto even speculating that it could “100x” if the conditions are right.

Bitcoin Minetrix’s innovative features have also helped the project create huge community backing, with more than 7,800 people participating in the official Telegram channel.

While there’s no way of telling what the future holds for Bitcoin Minetrix, its unique mining model and impressive early funding make it a new altcoin worth keeping an eye on.

Visit Bitcoin Minetrix Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Cryptocurrency

BONK Explodes by 20% Daily as Bitcoin (BTC) Remains Solid at $108K: Weekend Watch

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Bitcoin’s stagnation continues as the asset has made little to no attempt to move away from the $108,000 level.

While most larger-cap alts have produced insignificant gains, TON and BONK have emerged as the biggest gainers on a relatively calm Sunday morning.

BTC Calm at $108K

It has been a quiet period for the primary cryptocurrency. In fact, the latest major price moves came about two weeks ago – on June 23 and 24 – when it dumped to $98,000 before it soared past $105,000 a day later as the Middle East war was going rampantly.

Ever since then, though, the asset has been stuck in a tight trading range between $105,000 and $110,000. It tested the lower boundary on Wednesday, where the bulls stepped up and pushed it south toward the upper one.

On Thursday, BTC showed signs of a breakout attempt when it spiked to a multi-week peak of $110,500, but the bears stepped up at this point and didn’t allow a surge to a new all-time high.

The landscape has been somewhat unchanged since then, as bitcoin quickly returned to $108,000 and has not moved from that level for a few days. Its market capitalization stands strong at $2.150 trillion, while its dominance over the alts is at over 63% on CG.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

BONK on the Run

As the graph below will demonstrate, most larger-cap alts are slightly in the green on a daily scale. Such minor increases are evident from the likes of ETH, BNB, SOL, TRX, DOGE, ADA, BCH, LINK, and XRP. In contrast, HYPE and PI have lost some traction over the past 24 hours.

The biggest gainers are TON and BONK. The former has risen by over 9% and sits at $3, while the meme coin has exploded by 20% and now trades at $0.000022.

The cumulative market cap of all crypto assets has remained relatively stable at $3.4 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

We Asked 4 AIs How High Ripple (XRP) Will Go in 2025: The Answers Might Shock You

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TL;DR

  • Ripple’s price actions are a big prediction topic within the cryptocurrency community, with analysts and believers rushing to offer their insights and forecasts.
  • However, we decided to take a different approach this time and asked four of the biggest AI chatbots (ChatGPT, Perplexity, Grok, and Gemini) about their take on the matter.

2025 Price Targets

All four AI solutions seemed very coherent about XRP’s price potential this year, as Perplexity explained it:

“Ripple’s (XRP) price in 2025 is broadly expected to rise significantly from current levels, with expert forecasts varying but generally bullish.”

Although Ripple’s cross-border token has stalled in the past few months and is actually slightly in the red since the start of the year, all AIs had similar conclusions about its price moves until the end of the year.

ChatGPT laid out three potential scenarios, with the conservative one being at $3.4, which would match the asset’s all-time (and yearly) high. The optimistic is set at $5-$6, and the “aggressive forecasts” put the token at $10-$15 by the end of the year.

Google’s Gemini had similar ideas in mind, saying that “a realistic high could be in the $5-$10 range.” Perplexity also joined the $5-$10 club, which could be reached under “favorable conditions” (more on that later).

Grok was slightly more specific and was the only one that said XRP can finish the year lower than its current price tag. It noted that a “realistic price range” for the asset this year is somewhere between $1.8 and $5.81. Although that’s a pretty wide range, it concluded that the most likely peak will come somewhere between $3 and $4.5.

The Favorable Conditions

When it came down to outlining the factors that could impact XRP’s price moves this year, the AIs were once again aligned in their answers. First, they mentioned regulatory clarity and the official conclusion of the lawsuit against the SEC.

Although Ripple CEO Brad Garlinghouse stated in March that the case had been resolved and there had been several developments on the matter, the judge overseeing the case has yet to agree fully.

Second, the AIs brought up institutional adoption and bullish partnerships, such as those with Santander, SBI Holdings, and others. A spot XRP ETF will also play a significant role in the asset’s price trajectory this year, if approved, said the chatbots. According to ETF experts, the current odds stand at nearly 100%.

Lastly, the AI solutions highlighted the overall crypto market trends:

“Bitcoin’s post-halving performance and a pro-crypto U.S. administration under President Trump could fuel bullish sentiment across the crypto market, benefiting XRP,” – answered Grok, which was similar to what the others had to say.

Despite these bullish predictions for 2025, all four chatbots clarified that these are just that – speculative forecasts that might or might not come to fruition. Investors should do their own research before allocating funds to any cryptocurrency (or other asset, for that matter).

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Ethereum Price to Hit $6K This Year? Analysts Make Bold Call

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If pseudonymous analyst Weslad is to be believed, Ethereum (ETH) is caught in a tug-of-war between wildly differing futures: a historic surge past $6,000 or a soul-sapping plunge to $1,800.

The market technician claims that ETH is completing a massive ABCDE wave structure within a years-long “symmetrical pennant,” which can only mean one thing: explosion.

The Roaring Bull Case

In a recent breakdown, Weslad explained that Ethereum’s price action since its $4,851 all-time high has formed a giant consolidation pattern. According to him, this structure is now approaching a critical inflection point known as wave D, testing its upper boundary.

At the same time, a bullish Inverse Head and Shoulders (IH&S) pattern is emerging on the daily chart, with its neckline acting as stubborn resistance near $2,855.

This technical confluence suggests a coiled spring ready to unleash tremendous energy into the market, leading the analyst to state unequivocally:

“A confirmed breakout above the neckline [$2,855] would likely validate both the IH&S and the breakout from wave D, setting the stage for a potential expansion move toward the $6,000 target and beyond.”

Weslad’s audacious target found an ally in fellow strategist Jeremy Fielder, who declared in a video posted on X:

“We’re looking at $6,500 Ethereum by the end of the year and then a possible 10,000 Ethereum in early next year… Regulation is now pro-crypto. That’s all you need to know.”

He based his argument on the accelerating adoption of Web3 and a favorable regulatory shift, dismissing granular metrics in favor of a sweeping bullish tide.

While not as lofty a milestone as Weslad’s and Fielder’s, market watcher Titan of Crypto’s $4,100 target is not far off the ballpark. His thesis is hinged on Ethereum’s successful recovery back inside its crucial weekly trading range, noting that momentum is building towards the range high.

Looming Bear Trap

But don’t celebrate just yet. Weslad’s otherwise bullish analysis also comes with a stark warning for the downside scenario. He suggested that if ETH faces rejection at the critical $2,855 neckline resistance or the upper boundary of the pennant, a retracement into wave E becomes highly probable.

According to him, this trajectory would drag the price down towards a “high-confluence demand zone” spanning $1,400 to $1,800. That’s a potential 40% collapse from current levels.

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