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Following Donald Trump’s victory in the US presidential election against Vice President Kamala Harris, optimism is surging in the cryptocurrency market. Analysts are now projecting that Bitcoin could reach new heights of $100,000 before the presidential inauguration, which is just over two months away. Trump’s Election Signals Shift Toward Pro-Crypto Policies With Trump’s administration firmly established, CNBC reports that Bitcoin has already reached an all-time high of $75,500, signaling a potential shift towards a more crypto-friendly regulatory environment starting in 2025.  The combination of Republican control of both the Senate and the White House is expected to bolster support for Trump’s pro-crypto initiatives, leading to further price discovery for the market’s biggest digital asset. Related Reading: Uniswap Surges Toward $8.74 – Can UNI Push Through To New Heights? Trump has made several key promises that could significantly impact the cryptocurrency landscape. One of the most notable is the establishment of a national Bitcoin stockpile, positioning the US as the “crypto capital of the world.” He has also committed to ensuring that all future Bitcoin mined in the country contributes to this national reserve. Moreover, Trump has vowed to fire Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC), who has faced criticism for his aggressive regulatory approach under the Biden administration.  Gensler’s tenure has seen numerous lawsuits targeting major players in the crypto space, including Binance, Coinbase, and Ripple Labs, resulting in nearly half a billion dollars in legal fees for those companies. Trump’s proposed crypto policy is designed to stimulate growth and adoption within the United States, with Bitcoin positioned as a central element in his strategy to tackle the national debt, which currently stands at $36 trillion.  His administration’s plans have been echoed by pro-crypto Senator Cynthia Lummis, who introduced legislation to designate Bitcoin as a national reserve asset. This initiative was discussed during her remarks at the 2024 National Bitcoin Conference in Nashville, where Trump also made a notable appearance, further solidifying his commitment to the sector. Bitcoin On Track For $100,000  Given these developments, CNBC notes that “multiple analysts” are forecasting Bitcoin could reach the $100,000 mark before Trump’s inauguration, especially if he follows through with his promise to create a national Bitcoin stockpile.  The US government already possesses over $15 billion in Bitcoin from asset seizures over the years, providing a solid foundation for this initiative. In addition to Bitcoin’s rally, stocks of US-based firms such as Coinbase and Robinhood have seen significant gains in recent days. Coinbase (COIN) shares surged by 25.73%, while Robinhood (HOOD) jumped nearly 18%, reflecting the industry’s renewed confidence in a more favorable regulatory environment under Trump. Related Reading: Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead? Research from Cooper Research aligns with these optimistic projections, particularly regarding the Bitcoin exchange-traded fund (ETF) market. The firm previously estimated that ETFs could manage nearly 1 million Bitcoins by the time of the election, and currently hold approximately 986,000 BTC.  Their analysis suggests that if trends continue, Bitcoin could indeed reach $100,000 by January 20, when Trump is set to be inaugurated, especially if ETFs increase their holdings to around 1.1 million BTC. At the time of writing, BTC is trading at $74,750, having retreated from its current record high of $75,500 set during Wednesday’s trading session.  Featured image from DALL-E, chart from TradingView.com 

The futures market is signaling that the current Bitcoin rally, spurred by Donald Trump’s recent election victory on Tuesday, might be starting. According to Vetle Lunde, head of research at K33 Research, the election’s immediate aftermath has seen a “risk-on rotation” across derivatives, indicating a surge in investor confidence. Bitcoin Options Market Targets $80,000 By Late November On the Chicago Mercantile Exchange (CME), the basis—the difference between the spot market price and futures contract prices—has risen sharply from 7% to over 15% in a single day, reflecting heightened interest from institutional investors. Additionally, perpetual futures contracts, favored by offshore investors, are now trading at their largest premiums to the spot market since March, further underscoring rising demand for leverage. Related Reading: Ethereum Volatility Soon? Derivatives Exchanges Receive 82,000 ETH In Deposits Bitcoin recently surpassed $75,000 for the first time, buoyed by expectations that a second Trump presidency will usher in more favorable policies and regulations for the cryptocurrency sector, as he has vowed to support the growth of the market, with BTC at the heart of what could be a new economic policy for the nation.  Before the election, NewsBTC reported that the Bitcoin options market had already set its sights on an ambitious target of $80,000 for expiries slated for late November, showcasing the optimism surrounding the asset’s potential. Analysts Predict Strong ETF Inflows Post-Election Michael Safai, founding partner at quantitative trading firm Dexterity Capital, told Bloomberg that Trump’s administration promises decreased regulatory intervention in the US, a development many crypto investors have advocated during previous years of heightened scrutiny. While exchange-traded funds (ETFs) backed by Bitcoin experienced one of the largest outflows on Monday, Safai suggests that traders remain optimistic about a potential reversal.  Lunde also indicated that the European trading session had been relatively quiet. Still, Bitcoin appears to be finding support at its former all-time highs, a positive sign for continued upward momentum. Anticipating strong ETF inflows during US trading hours on Wednesday, the analyst expects the combination of rising CME premiums and post-election clarity to bolster Bitcoin’s performance. “The backdrop of burgeoning CME premiums presents carry opportunities that should support strong performance,” Lunde explained. However, amidst the positive outlook, some traders advise caution regarding potential price corrections. Related Reading: Uniswap Surges Toward $8.74 – Can UNI Push Through To New Heights? Previous bullish runs, such as the one witnessed in March following the introduction of Bitcoin exchange-traded funds, led to significant liquidations across both directions of the market, with the cryptocurrency recording drops of over 20% following the record peak.  Nathanaël Cohen, co-founder at INDIGO Fund, cautioned that profit-taking could trigger corrections at current levels. However, he remains optimistic about the overall trend moving higher in the coming months. At the time of writing, BTC was trading at $74,430, up 6.2% on a 24-hour basis and nearly 4% every week. Featured image from DALL-E, chart from TradingView.com 

The Bitcoin price hit a new all-time high (ATH) as it surged past $73,700 and rose to as high as $75,000 on November 6. Following this development, crypto analyst Tony Severino has revealed what to expect next from the flagship crypto.  Bitcoin Price Ready For “Fireworks” After New ATH In an X post, Tony Severino indicated that the Bitcoin price is ready to experience a parabolic rally, as he told market participants to expect fireworks above $75,000. The crypto analyst also revealed that Bitcoin was approaching the 2-week upper Bollinger Band while the bands are the tightest in history according to the BBWidth.  Related Reading: Dogecoin Price Marks Local Bottom, Can Price Run 100% From Here Again? The accompanying chart, which the crypto analyst shared, showed that the Bitcoin price could rise to as high as $140,000, with the flagship crypto reaching a potential market top in 2025. Tony Severino had previously mentioned that Bitcoin was approaching the strongest part of the bull run and explained how, based on historical trends, BTC could rise to as high as $133,000.  Indeed, the Bitcoin price looks to be entering the strongest part of the bull run following its rise to a new all-time high. This recent price rally to a new ATH is thanks to Donald Trump, who has been elected to become the next US president. This provides a bullish outlook for Bitcoin and the broader crypto market since the US president-elect has publicly declared his support for Bitcoin and other cryptocurrencies.  Besides Trump coasting to victory, it is worth mentioning that the Bitcoin price has historically never been below the levels it was at on US presidential election days. Therefore, this is likely the lowest range the flagship crypto might trade at before it records the next parabolic leg of this bull run.  A Fed Rate Cut Is Also On The Way In addition to Donald Trump’s victory, some other catalysts are lined up to spark the next leg of the Bitcoin bull run. One is a possible Fed rate cut that is expected to come on November 7, which is bullish for the Bitcoin price. The US Federal Reserve begins its FOMC meeting today and will decide on a rate cut by tomorrow.  Related Reading: Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought CME Fedwatch data shows a 97.6% chance the Fed will cut interest rates by 25 basis points (bps). This provides a bullish outlook for the Bitcoin price as more capital is set to flow into its ecosystem. Institutional investors are also on the sidelines as they will likely invest more money in the Spot Bitcoin ETFs after the US elections and a Fed rate cut.  At the time of writing, the Bitcoin price is trading at around $74,500, up over 9% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, has seen an 8% daily surge following Bitcoin’s surge to $70,000. Amid the market volatility, the token is trying to recover a key resistance level, which could propel the price to a 110% rally. Related Reading: Bitcoin Price Crash Below $70,000: What Does It Have To Do With Whales And The US Presidential Elections? Shiba Inu To See 110% Surge Soon Shiba Inu’s recent performance saw the cryptocurrency display red numbers in several timeframes. Following the market’s most recent pullback, SHIB retraced 13% to its lowest weekly mark of $0.00001632, registered on November 3. However, the token has bounced 12% from its lowest seven-day price, recovering the $0.000018 resistance level on Thursday. SHIB’s performance is seemingly fueled by BTC’s recent jump back to the $70,000 mark, which sent the memecoin above the $0.00001855 resistance before retracing. Moreover, the token’s daily activity increased 67% in the past 24 hours, seeing a daily trading volume of nearly $730 million. Some market watchers highlighted Shiba Inu’s recent performance, suggesting that the token is preparing for a massive rally in the coming days. Analyst Globe of Crypto stated that SHIB is looking positively to retest the resistance of the Descending Broadening Wedge pattern. Per the post, if the 1-day candle surpasses the $0.000019 resistance level, the memecoin could see a breakout from the formation. This zone was a crucial bounce level for Shiba Inu’s 136% rally in early March. As a result, the analyst considers that a successful breakout and reclaim of this level could start a “100-110% bullish wave,” which could propel the price toward the $0.000040 zone. Is $0.000081 The Next Big Target? Crypto analyst Javon Marks predicted a 351% surge toward SHIB’s all-time high (ATH) levels. The analyst noted that Shiba Inu broke out of a multi-month falling wedge pattern in early 2024, which sent the price toward Q1 highs. Since then, the memecoin moved within another multi-month falling wedge formation after registering a 70% correction from its year-high of $0.000043. SHIB broke out of this pattern around the end of Q3, kickstarting the token’s one-month 58% rally. Despite the recent market retrace, the analyst notes that Shiba Inu held above the breakout levels, confirming “a bull pattern with the RSI on the daily chart.” Marks considers that the memecoin’s next leg up is in its early stage, setting the rally’s target at $0.000081. Related Reading: PolitiFi Memecoins Soar: Trump-Themed Tokens Rally 30% Ahead Of US Elections Similarly, another market watcher shared his positive outlook for Shiba Inu’s price. Analyst Investing Haven suggested that SHIB’s current levels are not a cause for concern since “there’s “no long-term trend violation.” To the analyst, the memecoin’s levels to watch are between the $0.0000133-$0.00001444 prince range, as losing this support zone could signal a trend shift. However, Shiba Inu must reclaim the $0.000020 mark to continue its ascending trajectory. As of this writing, SHIB is trading at $0.00001828, an 8% surge in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Recent action has seen Bitcoin price retest the $67,000 price level. Particularly, the Bitcoin price declined by about 8.9% in seven days from $73,464 on October 29 to $66,895 on November 4, as many short-term traders exited their positions. At the same time, a few long-term holders also offloaded their Bitcoins, likely to lock in gains. According to technical analysis, the ongoing correction is absolutely normal and fine for Bitcoin. Particularly, technical analysis shows that the $100,000 price target for Bitcoin is well in play. Interestingly, this outlook is based on drawing parallels with the price history of gold.  Analyst Reveals What The Gold Chart Says About The Bitcoin Price Bitcoin has long been referred to as the digital gold in terms of its use as a hedge against inflation. However, their respective price actions over the years point to more similarities than many investors realize. Related Reading: Shiba Inu’s Shibarium Sees Daily Transactions Surge To 4.68 Million, Will This Push SHIB’s Price Toward $0.00008? Crypto analyst Tony ‘The Bull’ Severino took to the social media platform X to share an intriguing trend he observed on the Bitcoin price chart to relay an optimistic perspective on the cryptocurrency’s long-term trajectory. Severino pointed out that Bitcoin’s price movements appear to be following a similar path to historical patterns seen in gold, which went through comparable price tops, price bottoms, breakouts, and retests. According to the price charts shared by Tony Severino, he highlighted notable similarities between Bitcoin’s price action on the 2-week candlestick timeframe with Gold on the 2-month candlestick timeframe. Particularly, Bitcoin’s price action has mirrored that of Gold in multiple instances. Therefore, the analyst compared to the current price breakout/retest in the Bitcoin price to that of a similar breakout/retest in Gold in 2023. Back in March 2023, gold went through a breakout and retest pattern, which set the stage for a prolonged rally over several months up until the time of writing. Severino believes Bitcoin could follow a similar trajectory for a multi-month rally.  What’s Next For The BTC Price? According to Tony Severino’s analysis, the Bitcoin price correction is ending very soon and is set to go on a notable surge for the rest of the year. In terms of a timeline, he noted the creation of a new all-time high by the end of 2024 and a $100,000 price for Bitcoin in the first quarter of 2025.  Related Reading: Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought Although the analyst’s projection is based off of Bitcoin’s correlation with Gold, the price target resonates with similar price predictions with other technical analyses. For instance, a CryptoQuant analyst known as CoinLupin highlighted a similar price timeline based on the Bitcoin MVRV (Market Value to Realized Value) ratio. Using this ratio, he predicted a price target range of $95,000 to $120,000. At the time of writing, Bitcoin is trading at $68,714 and is down by 3% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Trader Tardigrade has revealed that the Dogecoin price has marked a local bottom. He further provided insights into what could come next for the foremost meme coin, with a 100% price rally from its current level on the cards.  Dogecoin Price Forms Local Bottom In an X post, Trader Tardigrade mentioned that the Dogecoin price has formed a local bottom signal. He explained that whenever the DOGE Moving Average Convergence Divergence (MACD) bearish cross forms, Dogecoin tends to trade sideways for a week before starting another bull run.  Related Reading: Shiba Inu’s Shibarium Sees Daily Transactions Surge To 4.68 Million, Will This Push SHIB’s Price Toward $0.00008? With the bearish cross happening now, the DOGE price is gearing up for another leg up, which, based on Trader Tardigrade’s analysis, could happen a week from now. The analyst’s accompanying chart showed that Dogecoin could witness up to a 100% rally as it rises to $0.28 from its current price.  The chart also showed how the Dogecoin price has formed local bottoms and then enjoyed another leg up since its bull run began in September. The DOGE price is up over 53% since September, outperforming the top 100 cryptos by market cap during this period. Crypto analyst Master Kenobi, who had rightly predicted the start of the Dogecoin bull run, also recently suggested that the meme coin was ready for the next part of its bull run. In an X post, he stated that it was nice to see the Dogecoin price back above $0.16, seeing as the meme coin has successfully retested previous resistance levels and confirmed them as support.  Master Kenobi further mentioned that the next levels to watch out for after the Dogecoin price reaches $0.23 are $0.33 and $0.73, its current all-time high (ATH). Once the meme coin reaches $0.73, the analyst remarked that the DOGE price will “moon,” indicating a parabolic rally.  Daily And Weekly Golden Cross Pending For DOGE Self-acclaimed DOGE lead analyst on X Kevin Capital revealed that a daily and weekly golden cross is pending for the Dogecoin price. The analyst noted that this was happening right before a potential Donald Trump victory and Elon Musk’s implementation of the Department of Government Efficiency (D.O.G.E). Related Reading: Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000 A Trump victory could be the catalyst for a Dogecoin price breakout above $0.20, considering that it will pave the way for Musk’s D.O.G.E proposal which continues to impact the meme coin positively.  Crypto analyst Ali Martinez also recently analyzed Dogecoin price action and said that the meme coin was the perfect trade right before the US elections. Indeed, the meme coin might be the perfect trade as it has decoupled from other crypto assets and is the top gainer among the top 100 cryptos by market cap ahead of today’s elections.  At the time of writing, the Dogecoin price is trading at around $0.165, up over 10% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

As the United States braces for the outcome of the closely contested presidential election between former President Donald Trump and Vice President Kamala Harris, Bitcoin (BTC) has experienced a price drop, now hovering around the $68,000 mark.  BTC Faces Key Support Levels Bitcoin has struggled to surpass its all-time high of $73,700, a level achieved in March following the approval of exchange-traded funds (ETFs) that invest in the cryptocurrency. Despite several attempts to breach this mark, Bitcoin has faced resistance, leading to a current price correction. Should it fail to maintain its position above $68,000, it may revisit the $66,600 support level, with a further drop potentially taking it down to $63,000—an important threshold in the near term.  Related Reading: Bitcoin Price Forecast: What To Expect In The Final 24 Hours Before US Election Despite the current price challenges, many analysts maintain a bullish outlook for Bitcoin. Crypto analyst Ali Martinez notes that the days following past US presidential elections have historically shown volatility for Bitcoin; however, the overall trend has remained upward.  This analysis suggests that if this pattern holds true in the current election cycle, Bitcoin might retest its previous highs with potential for price discovery above the milestone reached 8 months ago. In addition, Martinez highlights a recent buy signal from the TD Sequential indicator on the 12-hour chart, suggesting that a rebound could be imminent, potentially allowing Bitcoin to challenge the $73,000 resistance level again. Bitcoin To Hit $100,000 Regardless Of Election Outcome Analyst Miles Deutscher on the other hand, asserts that Bitcoin is on a trajectory toward $100,000, regardless of the November 5 election outcome. However, he anticipates that a Trump victory could further elevate Bitcoin’s price ceiling, with speculative targets ranging from $200,000 to $300,000.  Deutscher further believes that this bullish sentiment extends to altcoins like Ethereum, which may also benefit from a BTC rally in the last part of the year. The analysis comes as Trump has expressed strong support for the crypto industry, even suggesting the potential use of Bitcoin as a strategic national reserve asset to address the country’s substantial national debt, currently estimated at $35 trillion.  Many believe that a Trump administration could bode well for bitcoin’s future growth, with increased adoption and exposure from pension funds and institutions looking to diversify their portfolios, as seen in the current resurgence of Bitcoin ETFs. Related Reading: Ethereum Risk-To-Reward Ratio Is ‘Too Good To Pass Up’ – Top Analyst Sets $6,000 Target In contrast, Kamala Harris’s position on cryptocurrency has been less clear. While she has not articulated a robust plan for the digital asset sector, experts predict a shift from the current Biden administration’s regulatory scrutiny led by the US Securities and Exchange Commission (SEC).  At the moment, the difference on crypto betting site Polymarket gives Trump a nearly 60% chance of beating Harris in the coming hours. On the other hand, traditional polls show an even race between the two candidates, but with Trump winning every single swing state for the election.   Featured image from DALL-E, chart from TradingView.com 

Analyst Viaquant has said that the Dogecoin price has formed a ‘perfect market structure.’ This is bullish for the foremost meme coin as the analyst revealed that DOGE looks set to enter into a parabolic phase.  What Next For The Dogecoin Price Following ‘Perfect Market Structure’ Viaquant revealed in a TradingView post that the Dogecoin […]

As the US presidential election approaches, the Bitcoin price has found a stable support range between $68,000 and $69,000, just shy of its all-time high earlier this year.  While the cryptocurrency has struggled to surpass this significant milestone, investor sentiment remains cautiously optimistic, with expectations for further price increases tempered by anticipated market volatility in the upcoming hours. Bitcoin Price Expected To Swing 8% Post-Election The options market indicates the Bitcoin price could see price swings of approximately 8% in either direction following the election, a notable increase compared to the typical 2% fluctuations seen on regular trading days.  Caroline Mauron, co-founder of Orbit Markets, a crypto derivatives liquidity provider, noted that “no significant volatility premium is priced in after Nov. 7,” suggesting the market anticipates a relatively swift resolution to the election results.  Related Reading: Solana Expected To Reach $500 By Bull Run’s End, Says Crypto Analyst The election pits Republican nominee and former President Donald Trump against Democratic Vice President Kamala Harris, with both candidates eliciting varied responses from the crypto community.  Trump’s favorable stance towards cryptocurrencies has positioned Bitcoin as part of the so-called “Trump trades,” especially in light of the regulatory crackdown experienced under President Joe Biden.  As Trump’s odds have fluctuated in betting markets, the Bitcoin price has mirrored these changes, briefly nearing record highs before retreating as polls indicate a tightly contested race. The options market reflects a balanced sentiment, with an even distribution of bearish and bullish positions throughout October, indicating that traders are preparing for upward and downward movements as the election draws near.  Data from the Deribit exchange suggests a potential trading range of $60,000 to $80,000 for the Bitcoin price in the weeks following the election, based on peak open interest in options contracts. Path To $100,000 Remains Viable Crypto analyst Miles Deutscher has also shared his view on social media, positing that a Trump victory could lead to an immediate Bitcoin price surge, potentially establishing a new all-time high this year.  Conversely, the analyst suggests that a win for Harris might result in a price drop, delaying any new highs until Q1 2025. Regardless of the election outcome, Deutscher remains confident that Bitcoin will reach $100,000. Market expert Patric H. adds another layer of analysis, observing that Bitcoin closed the past week above a daily downtrend channel, indicating a potential reversal.  However, Patrick notes that the weekly candle shows weakness, prompting market participants to de-risk before the election. His bullish thesis hinges on Bitcoin holding above $65,000; a drop below this level could signal a return to extended price volatility. Related Reading: Dogecoin (DOGE) Poised for a Move: Will It Start a Fresh Increase? From a trading perspective, data indicates that perpetual traders on Binance have withdrawn limit buy orders below $50,000, suggesting a shift in sentiment.  Previously, there was substantial long interest in the “multi-billion dollar range” between $42,000 and $50,000, but traders appear to have sidelined that capital in favor of higher price levels. The next significant limit buy order is $63,800, with additional smaller orders scattered down to that level, indicating that Bitcoin may not fall significantly below this point. On the upside, the next significant resistance level for the Bitcoin price is $73,000, where substantial selling interest from Coinbase and Binance is noted. Patrick anticipates a potential rejection in the $75,000 to $76,000 range, which could precede a breakout if those levels are successfully breached. At the time of writing, Bitcoin is trading at $68,360, up 0.8% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com

Crypto analyst Master Kenobi has provided an update on his FLOKI master plan. The analyst revealed that his initial analysis had been invalidated and mentioned what was next for the Shiba Inu competitor with this development.  FLOKI Master Plan Invalidated But Might Be A Good Thing Master Kenobi revealed in an X post that the […]

Speculations about the Bitcoin bull market being over have been rife in the crypto market, particularly as the price has failed to reach its March all-time high of above $73,000. Providing a more compelling case to this narrative, a crypto analyst has released a Bitcoin bear case scenario that could see the pioneer cryptocurrency decline to $28,000.  Bitcoin Bear Case Unveiled In an X (formerly Twitter) post, crypto analyst and Position trader Bob Loukas revealed a “Bitcoin bear case,” unveiling a more unorthodox and bearish scenario for Bitcoin than most analysts have suggested. Basing his bearish scenarios on the cycle theory, Loukas proposes that Bitcoin might be part of the broader 16-year cycle, with the current market marking the final four-year phase of this cycle.  Related Reading: Shiba Inu Burn Rate Surge 24,271% While Shibarium Transactions Spike, Catalyst For Rally To $0.00008? The analyst suggested that this four-year phase could end in two ways — a distribution phase, where prices peak and then decline, or an upward phase, where Bitcoin experiences one last upsurge before a downturn begins. Loukas has revealed that while cycle trends can help predict or provide insights into a cryptocurrency’s future price movements, he emphasizes that “no power law” guarantees that an asset’s price will continually go up.  The analyst aims to desensitize investors into believing Bitcoin will forever be bullish with no downturns. He asserts that a bear cycle is inevitable at some point, though the timing remains uncertain.  Loukas pinpointed specific price movements in his Bitcoin chart that could serve as a bearish signal, suggesting a potential downturn. The analyst predicts that Bitcoin could drop to new lows around $28,500 by 2026. He also forecasted that after a period of volatility consisting of price declines and surges, the cryptocurrency could rise again to $59,500 by 2027.  For more clarity, Loukas has proposed a narrative, suggesting that if Bitcoin were to close below the 10-month Moving Average (MA) during a “bull market,” it would be a cause for concern. Similarly, a monthly close below the $58,800 mark could indicate the start of a potential downward spiral.  The crypto analyst has estimated a 10% to 15% chance of this bearish scenario occurring, emphasizing that it was a possibility and not a certainty. He clarified that while he believes the current market cycle leans towards a more bullish scenario based on historical evidence, he always considers alternative scenarios. This approach is likely due to the crypto market’s inherent unpredictability and notorious volatility.  Related Reading: Dogecoin Bollinger Bands Squeezes Tighter Than It Was Before 2021 Rally, What This Means Analyst Sees Retail Activity Fueling A BTC Downtrend While unveiling his Bitcoin bear case scenario, Loukas disclosed that broader interest in cryptocurrencies outside of Bitcoin has faded significantly. He revealed that there is a lack of new retail investors, and this weakening enthusiasm could pose a serious challenge for Bitcoin to generate new capital for growth.  According to Loukas, retail investors’ disinterest may stem from a shift in sentiment. Embracing cryptocurrencies has dwindled to mere speculation, and fewer people believe in their transformative potential.  Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Trader Tardigrade has highlighted a bullish pattern in which the Dogecoin price formed in previous bull cycles. Based on this, the analyst raised the possibility of the foremost meme coin rising to as high as $10.  Dogecoin Price Repeats Falling Wedge Pattern Trader Tardigrade revealed in an X post that the Dogecoin price […]

After recovering from the market retrace, SUI is trying to reclaim the $2 mark and break out from a bullish pattern. Some market watchers suggested the cryptocurrency will pull some “big moves” toward a new all-time high (ATH). Related Reading: Bitcoin Faces Fifth Consecutive Rejection At $72,000, Is Another Correction Coming? SUI Recovers From Halloween’s Correction As October ended, the crypto market saw a spooky correction led by Bitcoin’s drop below the $70,000 mark. Most cryptocurrencies experienced a significant retrace, with Ethereum and Solana bleeding around 5%. SUI, the native token of the Sui Network, joined the rest of the market and declined by 4%, losing its recently recovered $2 support. The cryptocurrency has been one of the best-performing tokens in the past few months, outperforming most of the market during Q3. Moreover, it recorded a 25% rise toward its latest $2.35 ATH two weeks ago. Following its rally to its ATH, SUI’s price faced an 18.5% correction, making investors and analysts forecast a longer consolidation time for the token. Earlier this week, the token followed BTC’s surge and eyed the $2.15 zone, which previously propelled the price toward its latest ATH. Nonetheless, the token reached the lower levels of the $1.90 support zone on Friday morning amid the market retrace. Today, SUI surged 9.3% from its $1.92 daily low to hit the $2.10 mark before retracing to $2.07. Some analysts consider the cryptocurrency is gearing up to “put in a big move” following the correction. Is A Retest Of The $2.35 ATH Looming? Analyst AMCrypto pointed out that SUI’s recent performance could target a breakout from a bull flag formation. Per the chart, the cryptocurrency displays this bullish pattern in the three-day chart, with the breakout target sitting at $2.05. The analyst stated that if SUI successfully breaks above the upper trendline, “it’ll pump towards its previous ATH.” Meanwhile, crypto analyst Altcoin Sherpa proposed two short-term outcomes for the token. Sherpa considers the cryptocurrency will test the ATH zone and pull back to the current levels at least once more in the coming weeks. He indicated the price could drop to $1.65 if it fails to hold the $2 support. However, it could also bounce from this level after the retrace and rally toward a new ATH of around $2.7 by year-end. Sherpa previously suggested that tokens with a strong September performance still have “a bit more pullback to go” with “plenty of bounces” before resuming their run. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 Most of the market will experience volatility in the coming days as speculation and anticipation build up for the outcome of the US presidential elections, scheduled for next week. Analyst Michaël van de Poppe noted that most altcoins, including SUI, were in a correction period and explained how its retest of the $1.90-$2 support is “crucial for further upward momentum.” As of this writing, SUI is trading at $2.05, a 3.5% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

Dogecoin has had quite an eventful few days in terms of price action, trading volume, trading activity, and interest among investors. Dogecoin led the entire market in inflows, outperforming even Bitcoin in the past week. This momentum has introduced a compelling shift in Dogecoin’s technical outlook, particularly with the Bollinger Bands on the DOGE/BTC chart. This interesting outlook was highlighted by crypto analyst Tony Severino, who pointed out that the Bollinger Bands have tightened to a degree not seen in years. In fact, Severino notes that the bands are now tighter than they were before Dogecoin’s rally in 2021.  Dogecoin Bollinger Bands Squeeze To Tightest Level Bollinger Bands are widely used technical indicators that mark price volatility boundaries. When the bands narrow, it generally signals low volatility. On the other hand, widening bands indicate high volatility. A squeeze, where the bands move closer together, suggests that the asset is trading within a tight range. In the case of Dogecoin, Severino’s observation notes that the DOGE/BTC Bollinger Bands are now closer than they’ve ever been on the monthly timeframe. Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH The last the Bollinger bands were at such a squeeze was just before the 2021 rally, which saw the meme coin surge exponentially during the meme coin craze. Going by the history of the Dogecoin-Bitcoin pair, if the outcome plays out like its previous price action, Dogecoin could be on the cusp of a strong rally in the coming months that could even lead to more returns than the 2024 rally.  DOGE Breakout From Three-Year Channel As noted earlier, Dogecoin’s rally over the past few days has been impressive. Particularly, Dogecoin went on a 72% rally to peak at $0.176, its highest point in over six months. This upward momentum allowed Dogecoin to break out of a three-year-long channel pattern on the price chart defined by a downward-sloping upper trendline dating back to the 2021 high. This breakout is significant, as it marks Dogecoin’s move beyond a key resistance level that had contained its growth since the 2021 peak.  Related Reading: Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen The likelihood of a Dogecoin rally in the upcoming months has increased massively due to this breakout, although there remains a possibility of a retest. According to a crypto analyst on social media platform X, $2 is a potential peak target if the momentum holds. However, it is important to note that several resistance levels lie between the current price and this ambitious target. Two examples of notable resistance levels are the 2024 high of $0.22 and the all-time high of $0.7316. At the time of writing, the Dogecoin price is trading at $0.1585, which means it has reversed by about 10% from $0.176 to retest the channel breakout.  Featured image created with Dall.E, chart from Tradingview.com

A crypto analyst has just unveiled a midterm Pepe price prediction, forecasting that the frog-themed meme coin could see a potential 326% rally before the end of 2025. This massive surge would propel the Pepe price to $0.0000347, marking new all-time highs for the popular meme coin.  Analyst Predicts 326% Price Rally For PEPE Sharing a bullish price forecast for the Pepe price on the last day of October, crypto analyst Captain Faibik has predicted that the frog-themed meme coin is set for a substantial price rally between November and December 2025. While specific analysis of this forecast was not fully disclosed, a few critical indicators on the meme coin’s predicted monthly price movement for Q4 2024 to 2025 appear to support this bullish outlook. Related Reading: Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen In the price chart, Captain Faibik highlighted a series of market fluctuations that Pepe is expected to undergo before the end of 2024. According to his forecast, Pepe could see a brief price rally in December, followed by a shift towards bearish trends. Between February and March 2025, the meme coin is anticipated to rally again. This time, however, this price increase is projected to be more explosive, pushing Pepe to significantly higher levels. Furthermore, the potential surge in March is projected to trigger the start of a unique triangle pattern for the price. From April to November 2025. Pepe is expected to enter a prolonged consolidation period marked by slight price increases and declines. Around November and December 2025, Captain Faibik forecasted a substantial 326.64% price rally for Pepe, potentially pushing its price to $0.00003474, possibly even above the $0.00004 mark. This anticipated spike would effectively send the price of Pepe to new all time highs by the end of 2025.  Additionally, with Pepe currently trading for $0.0000089, a rally to the $0.00003474 level would result in the cryptocurrency effectively dropping a zero, marking a crucial milestone in its growth trajectory. A jump above $0.00004 would also represent a 349.44% increase from present price levels. Price Action Mirrors Dogecoin’s 2020 Movements According to crypto analyst Max on X (formerly Twitter), Pepe is experiencing a similar set of price movements to those seen in Dogecoin in late 2020, just before the 2021 bull run. The analyst revealed that this bullish price action is coming just as Bitcoin is on the verge of hitting a new ATH this bull cycle.  Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH Max has expressed confidence that Pepe could become the leading meme coin in this current market cycle, much like Dogecoin was during the bull run in 2021. With the belief that the frog themed meme coin is on the verge of a significant rally, the analyst warns investors to consider jumping on the Pepe bandwagon.  Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Ali Martinez has revealed what needs to happen next for the Bitcoin price to surpass its current all-time high (ATH) of $73,700. The analyst had rightly predicted the recent price rally to $72,000 but warned back then that the flagship crypto won’t hit its ATH instantly.  How The Bitcoin Price Can Reach New ATH Martinez mentioned in an X post that the Bitcoin price needs to hold above the $69,000 support level to reach a new ATH. He claimed that a successful hold above that support level could lead to a price rally to $78,000. This came as he noted that the Bitcoin price movement was going according to plan.  Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH Before now, Martinez had predicted that the Bitcoin price would rise to $72,000 if it held above $65,000, which eventually happened. Back then, he added that BTC would likely experience a pullback to $69,000 after this price, which has also now happened, with the flagship crypto closing in October below $70,000.  This price correction is believed to be healthy, considering the pump that BTC enjoyed earlier in the week, coming close to its current ATH. This pump was followed by a wave of profit-taking, with whales, including Bhutan, selling their BTC holdings to secure some profits. Ali Martinez indicated that the flagship crypto is still in bullish territory, as he alluded to BTC’s historical performance in November, a month in which it has recorded more positive returns than negative ones.  In another X post, he suggested that the Bitcoin price could go parabolic after the US elections. He shared a chart of BTC’s movement after the last three US presidential elections and remarked that he doesn’t expect this time to be different. Bitcoin hit a new ATH after those elections, which could happen again.  How It Could Play Out After The US Election Economist Alex Krüger has provided insights into how the Bitcoin price could move after the US elections. In an X post, he claimed there is a 55% probability that BTC will reach $90,000 by year-end if Donald Trump wins. This is based on the fact that the former US president has declared his support for cryptocurrencies.  Related Reading: Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It? Meanwhile, if Kamala Harris wins, Krüger mentioned that there is a 45% probability that the Bitcoin price will be trading at $65,000 by year-end. The economist put the weighted average for BTC’s price at $79,000.  He also told market participants to expect a swift Bitcoin price rally if Trump wins. At the same time, he said he expects BTC to range between $65,000 and $68,000 going into the election night.  At the time of writing, the Bitcoin price is trading at around $69,400, down over 3% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Ahead of its monthly close, Bitcoin (BTC) has seen another unsuccessful attempt to reclaim the $72,000 resistance as a support level. Despite the drop, some analysts consider the cryptocurrency is still in a strong position for an upcoming breakout, setting the next levels to watch. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 BTC’s Sweet 16 Party Turns Spooky Bitcoin, the largest cryptocurrency by market capitalization, recorded an impressive rally in ‘Uptober,’ surging around 13% in the last 30 days. BTC’s price has jumped from the $58,900 monthly low to near its all-time high (ATH) price of $73,737, reaching the $73,300 mark on Wednesday. Following the green September close, the flagship crypto is set to have its best monthly close since March, potentially registering around 13$ to 14% in monthly returns despite its most recent price action. On its whitepaper’s 16th birthday, Bitcoin recorded a spooky 2% drop, driving the rest of the market to a red Halloween party. BTC’s price fell below the $71,000 mark, reaching an intraday low of $70,600. Meanwhile, the second largest cryptocurrency by market capitalization, Ethereum (ETH), pulled back around 5.1%, losing the $2,600 support zone. Crypto analyst Ali Martinez pointed out that today’s drop is the fifth consecutive rejection BTC faces at $72,000. Since its ATH, Bitcoin has been rejected from this resistance level five times, dropping between 8.2% and 18% the four previous times. Analyst Altcoin Sherpa suggested that BTC could see a 4% to 5% dip if the largest cryptocurrency doesn’t hold the $70,000 support zone. Nonetheless, Sherpa considers that the cryptocurrency should “see some sort of bounce” from the $70,800-$71,400 area in the short term. BTC is expected to have an extremely volatile week ahead of the US presidential elections. Bitfinex analysts predicted that Bitcoin volatility will peak between November 6 and November 8, as speculation and anticipation about the election outcome affect the cryptocurrency’s performance. Is Bitcoin Gearing Up For End-Of-Year Breakout? Cryptoinsightuk weighed in on Bitcoin’s performance, noting that BTC is still at ATH by Open Interest (OI). The crypto investor considers that the Daily Relative Strength Index (RSI) could potentially “cross bearish” today. He also highlighted that $69,600 should work as a key support level for Bitcoin bulls but warned that losing the $66,500 range could be “messy” as BTC’s open interest would “flush.” Meanwhile, Crypto Kaleo posted a more bullish outlook for BTC’s price action. The analyst highlighted that the flagship crypto didn’t break above its ATH when it retested the $20,000 mark in 2020. Related Reading: Neiro Breaks Above Key Level Following 10% Weekly Drop, Is $0.0020 Next? Instead, Bitcoin initially pulled back nearly 20% during Thanksgiving, moving from $19,400 to $16,100. Moreover, BTC’s price accumulated within that range for 30 days before breakout, seeing the next leg up in late December 2020. The analyst pointed out the breakout happened 219 days after May 2020’s Halving. As Bitcoin is currently 194 days post-halving, the analyst considers that “a little bit of a pullback here isn’t any reason for concern.” As of this writing, Bitcoin has held the $70,000 support level, currently trading at $70,522. Featured Image from Unsplash.com, Chart from TradingView.com

On Wednesday, BlackRock, the world’s largest asset manager, achieved a significant milestone in the Bitcoin ETF market, recording the largest inflows since the inception of these investment funds in January.  Bitcoin ETF Demand Soars Ahead Of US Presidential Election According to Bloomberg, approximately $872 million flowed into BlackRock’s iShares Bitcoin Trust on Wednesday, marking a daily record for the fund. This influx highlights the strong demand for Bitcoin ETFs, with subscriptions for this nine-month-old product ranking among the highest globally for ETFs in 2024.  As a result of the inflows, BlackRock’s total holdings in Bitcoin now stand at 429,185 BTC, valued at approximately $31.04 billion. This accounts for about 2.04% of Bitcoin’s total supply, capped at 21 million coins. The recent inflows are being attributed to a phenomenon dubbed the “Trump trade,” as pro-crypto Republican nominee Donald Trump gains momentum in betting markets ahead of the upcoming election day on November 5.  Related Reading: BNB Price Slips as Peers Climb: Can It Regain Ground? Bitcoin is on the verge of reaching new heights, fueled by a 13% rally in October. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted on Bloomberg Television that the demand for these ETFs is palpable, suggesting that investors are responding not only to Bitcoin’s upward momentum but also to Trump’s favorable odds in the political arena. Trump has made headlines with his pledge to turn the US into the “crypto capital of the planet” and to create a strategic Bitcoin reserve for the country to halve the US’s $35 trillion national debt.  In contrast, Democratic Vice President Kamala Harris, has pledged to support a regulatory framework for the cryptocurrency industry but has not provided further details on how her potential new administration will address the community’s calls for a change in leadership at the US Securities and Exchange Commission (SEC) and its approach to digital assets.  Price Predictions Surge Amid bullish predictions for the leading crypto of the industry, market expert Ali Martinez has shared compelling insights regarding Bitcoin’s potential price trajectory for the months ahead.  In a recent post on social media platform X (formerly Twitter), Martinez analyzed historical patterns, noting that Bitcoin has typically peaked between the 1.618 and 2.272 Fibonacci retracement levels during past bull cycles.  If this trend continues, Martinez predicts that Bitcoin could reach a price range between $174,000 and $462,000 in the current cycle. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 In addition to these price predictions, Martinez pointed to another bullish indicator: a significant outflow of Bitcoin from cryptocurrency exchanges. Over the past 48 hours, approximately 8,000 BTC, valued at around $576 million, have been withdrawn from exchanges.  This trend signifies a growing inclination among investors to hold onto their Bitcoin rather than sell it, which can create upward pressure on prices as BTC inches closer to its all-time high level of $73,700 reached in March.  At the time of writing, BTC was trading at $71,640. This represents a retracement of 1.2% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com

Technical analysis suggests the days of the Ethereum price consolidation might be over very soon. At the time of writing, Ethereum is trading with a 0.07% gain in the past 30 days, which reveals the current consolidation situation it finds itself under.  However, according to a technical analysis on TradingView, the Ethereum price could be well on its way to reaching a new all-time high after 12 weeks of consolidation. Ethereum Price Completes Bottom Formation According to a technical analysis of the Ethereum price in the weekly candlestick timeframe, the cryptocurrency is currently in its 12th week of consolidation after a decline that ended in the first week of August. Interestingly, analysis reveals that the consolidation is at the bottom of the lower trendline in a Channel Up trend in the weekly timeframe that started as far back as June 2022. Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 Particularly, a close look at this Channel Up trend reveals that the Ethereum price action has been confined between its upper and lower trendlines in the past two and a half years. Fortunately, the trend is a bullish one with the creation of higher highs and higher lows, which suggests a bullish outlook for the Ethereum price. As it stands, the Ethereum price has been on an uptrend since the beginning of the week, essentially reversing last week’s declines. Consequently, the price has flipped from bearish to neutral on the weekly outlook and is now moving towards bullish. The only thing left is for the Ethereum price to keep pushing on this uptrend and flip above the weekly MA50 (50-Day Moving Average). A successful push above this level, according to crypto analyst InvestingScope, would not only signal an end to Ethereum’s prolonged consolidation but also set the stage for a rally toward the channel’s upper trendline. ETH On The Journey To Recording New Highs As it stands, the 1W Relative Strength Index has already crossed over its MA, lending charge to the momentum. All that’s left now is an Ethereum price break above the weekly MA50. A break above the MA50 on the weekly timeframe would confirm the shift from consolidation to bullish momentum, draw in fresh buying interest and open up Ethereum’s path to creating a higher high within the Channel Up structure.  Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline The Channel Up structure is structured in such a way that the creation of a new higher high at this point would necessitate a break above the current all-time high of $4,900. A touch of the upper trendline in the Channel Up would see the Ethereum price peaking above $5,500 before undergoing any major correction. “When that happens, aim for no lower than the All Time High (TP = 4,900),” the analyst said. At the time of writing, Ethereum is trading at $2,631. Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Master Kenobi, who predicted the start of the Dogecoin bull run, has provided an update on what is coming next for the foremost meme coin. The analyst provided two scenarios that could play out for the Dogecoin price from its current level.  What Next For The Dogecoin Bull Run Master Kenobi provided an […]

The Dogecoin price now looks like it has established support of around $0.17, having rebounded just below it in the past 24 hours. With the $0.17 price level cleared, the next step is a convincing break above $0.18. Interestingly, technical analysis of the Dogecoin price suggests a strong multi-year resistance level between $0.18 and $0.20. Technical analysis using Elliot waves suggests a break above the resistance levels could open up the path to a peak of $2.4. While this target may seem ambitious, Dogecoin has attracted renewed popularity and recent price gains, which reflect its ability to capture investor interest. This is particularly evident in recent actions by billionaire Elon Musk, who brought Dogecoin into the mainstream conversation.  Crypto Analyst Says Dogecoin To $2.4, Elon Musk A Huge Factor Aside from the recent wider increase in crypto prices spearheaded by Bitcoin, it is evident that the current Dogecoin performance has also been bolstered by Elon Musk and his “Department Of Government Efficiency.”  Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 According to an analysis by an analyst that goes by @HovWaves on social media platform X, Dogecoin is prime for a surge to $2.4. As you can imagine, reaching this level would require Dogecoin to attract investment inflows from every corner of investor cohorts. Fortunately, recent events have been drawing increased attention to Dogecoin, one of which is the presidential election campaigns in the United States. Campaigns have seen the introduction of the Department of Government Efficiency by Elon Musk, which is a campaign tactic by Republican candidate Donald Trump to cut $2 trillion in federal spending. Although seemingly unrelated to cryptocurrencies, the term has caught waves among Dogecoin investors, especially as it abbreviates as DOGE, the Dogecoin ticker. Interestingly, Elon Musk has fueled this narrative among Dogecoin investors by recently posting a picture of him alongside the Dogecoin avatar. As HovWaves noted, all the talk surrounding the Department Of Government Efficiency has made DOGE a household name in recent weeks. This surge in interest is reflected in the Dogecoin price, which has increased by 60% since October 1. Dogecoin’s Timeline To Reaching $2.4 According to technical analysis using the Elliot Wave theory, Dogecoin is currently on the third impulse wave, a phase known to be massively bullish. This bullish trend has seen Dogecoin on its way to breaking above a major resistance level, which HovWaves highlighted to be just below $0.18. Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline A successful breakout of the resistance level would open up the stage for Dogecoin to retest its 2024 high of $0.22. A subsequent break above this high would send it towards its all-time high of $0.73 in May 2021. With enough momentum, HovWaves predicted Dogecoin would eventually settle at a price target in the $1.9 to $2.9 confluence area by July 2025. At the time of writing, Dogecoin is trading at $0.1725. A break towards $1.9 and $2.9 would reflect 1,000% and 1,585% gains, respectively. Featured image created with Dall.E, chart from Tradingview.com

A crypto analyst has forecasted a 98% Bitcoin price crash following a substantial rally to $250,000. Interestingly, the analyst is confident that Bitcoin will eventually reach this ambitious quarter-million-dollar target. However, they caution that once profits are taken at this top, Bitcoin could decline significantly to new lows.  Bitcoin Price Projected To Crash 98% On October 30, crypto analyst Gert van Lagen told his 106,700 followers on X (formerly Twitter) that the Bitcoin price could drop to the $24,000 range once it hits $250,000. Lagen revealed that many investors have felt overly confident that Bitcoin could never experience a 98% crash again, especially with the introduction of Spot Bitcoin Exchange Traded Funds (ETFs). Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline Countering this overconfidence, the crypto analyst asserted that ETF assets tend to lose significant value during periods of economic recession. Consequently the analyst predicts that the Bitcoin price could first experience a “blowoff” of up to $250,000, marking a historical milestone. At this point, many investors would start taking profits, triggering massive selling pressure as they liquidate ahead of potential price declines.  Following Lagen’s analysis, once the market sentiment for the Bitcoin price shifts, institutional investors, who may have been the prime drivers for the $250,000 rally, are likely to sell off their holdings. Lagen has described this massive sell-off as the “shake out of the century,” when the Bitcoin price could plummet dramatically to 98% of its high.  This suggests that after hitting $250,000, the BTC price could crash to $2,000, trading below Ethereum’s current price, which is trading at $2,635, according to CoinMarketCap.  Highlighting the reasoning behind this unexpected bearish price crash, Lagen revealed that by plotting the Bitcoin price on the “Syslog scale,” it clearly shows a High-Time Frame (HTF) rising wedge, which points at a price target between $1,000 and $10,000. He also disclosed in a much earlier post that if Bitcoin does experience his projected shakeout and price decline to $1,000, it will take four halving events before the cryptocurrency can return to its $200,000 price high.  BTC To Break Above $73,000 And Rally Higher As of writing, the Bitcoin price is trading at $72,433 after experiencing more than a 7.8% increase this week. Lagen has stated that the Bitcoin price action points to a possible “triangle bearish continuation pattern,” which typically signals a potential downward trend in a cryptocurrency. Related Reading: End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 The crypto analyst has set a new target of $71,200 for Bitcoin, suggesting that if the cryptocurrency follows through with the triangle bearish continuation pattern, its price could decline significantly. On the flip side, Lagen has predicted that if Bitcoin can break the $73,000 threshold, it would invalidate the triangle bearish continuation pattern. This could indicate the end of the downtrend and potentially lead to a stronger upward momentum.  Featured image created with Dall.E, chart from Tradingview.com

On Wednesday, Ethereum (ETH) surged above the $2,700 mark for the first time in over a week, sparking a bullish sentiment among several crypto analysts. Some suggested that the second-largest cryptocurrency will soon break from the next resistance level and reclaim the $3,000 mark. Related Reading: Neiro Breaks Above Key Level Following 10% Weekly Drop, Is $0.0020 Next? Ethereum Retests $2,700 Ethereum surged above a key resistance level on Wednesday morning as most of the crypto market soared. The cryptocurrency rallied 3.1% toward the $2,700 horizontal level, hitting the $2,722 mark before retracing to $2,710. Over the past week, ETH hovered between the $2,430-$2,650 range after failing to hold its support. This performance worried many investors and market watchers, who have heavily criticized the crypto’s price action throughout the year. However, today’s jump represents a 5.6% increase in the weekly timeframe, which sparked a bullish sentiment among the community. Crypto trader CRG noted that Ethereum is testing a support level in its trading pair against Bitcoin (BTC) in a higher timeframe (HTF). Per the chart, ETH/BTC is retesting an HTF support at the 0.0377 level. The 0.023-0.040 zone was a crucial area between 2020 and 2021, with ETH’s all-time high rally starting after breaking above the upper line of this range. The trader suggested that Ethereum’s surge would be short-lived as the “King of Altcoins” has had a “disappointing” performance despite the spot ETH exchange-traded funds (ETF) approval. “ETH is like the toxic ex-gf that keeps you going back,” he jokingly stated. Similarly, crypto analyst Michaël van de Poppe remarked that it’s time to be bullish on ETH, suggesting that there’s a “massive bullish divergence” in the one-day timeframe of the ETH/BTC chart, while it was “popping up” in the three-day timeframe. Van de Poppe pointed out that the 0.051 area is the crucial zone for a trend reversal. ETH To Hit $3,000 In Two Weeks? Various crypto analysts have set the $2,800 resistance level as the next crucial zone if Ethereum successfully reclaims the $2,700 mark. Analyst Crypto Yapper pointed out that ETH has registered five consecutive green daily candles since bouncing from last week’s lows. To the analyst, if ETH breaks above the $2,800 horizontal level, the cryptocurrency will rally toward the $3,000 resistance level and potentially kickstart the altcoin season. Similarly, van de Poppe suggested that Ethereum will break above the crucial horizontal level in the next two weeks, as it took the liquidity at the $2,450 level and “ran back up to resistance.” According to the analyst, this could propel ETH’s price to $3,000 in November. Related Reading: Bitcoin Volatility To Peak By November 8 As ‘Trump Trade’ Intensifies – Report ETH has been rejected from the $2,700 resistance level, hovering between the $2,680-$2,690 price range for the past hour. As of this writing, the cryptocurrency trades at $2,693, a 1.4% and 3.3% increase in the daily and monthly timeframes. Nonetheless, it’s worth noting that the crypto market might continue facing high volatility over the next few days as speculation increases ahead of the US presidential elections. Featured Image from Unsplash.com, Chart from TradingView.com

In a surprising take, a crypto analyst has foreseen a crash in the price of Solana despite the ongoing bull momentum. This analyst is projecting a crash in the price of Solana, offering a fresh perspective on the crypto heavyweight. According to a crypto trader who goes by the name AlanSantana on TradingView and is very active on the trading platform, Solana’s trading volume in the past two months suggests the crypto is gearing up for a crash. Analyst Predicts Massive Crash For Solana AlanSantana observed that Solana’s trading volume has dropped significantly between September and October 2024, a development that often signals a bearish outlook and may suggest an upcoming downward price impulse. Inferring from this outlook, this suggests that the volume trend is pointing towards demand tapering off.  Related Reading: Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000 The analyst also draws a contrast with last year’s trading activity, specifically from September to November 2023, when Solana’s volume was on the rise. This uptick in trading volume fueled a bullish rally that extended through the first quarter of 2024, with momentum carrying Solana to substantial highs by March. Based on the difference in two time periods and the current decrease in trading volume, the analyst suggested that there is a higher probability of Solana going in a main bearish direction. In light of this, he highlighted a Solana price crash below the $50 price level. Interestingly, a crash below $50 will effectively cancel out the gains in the past year and would return the cryptocurrency to its price range in November 2023.  SOL Whales Continue With Activity Solana is still largely in a bullish mode despite the decline in trading volume that was pointed out by AlanSantana. According to data from on-chain tracking firm Lookonchain, crypto whales are have upped their Solana trading activity in the past week, as evidenced by on-chain data.  Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? In a recent post on social media platform X, Lookonchain highlighted three instances of Solana whale addresses withdrawing SOL tokens from crypto exchanges and staking them. The largest withdrawal came from address “AA21…VxH9,” which moved 153,511 SOL tokens worth approximately $26.4 million from Binance to stake them. Another whale, identified by the address “EHax…gAUa,” withdrew 35,498 SOL tokens valued at $6.12 million from Binance and Kraken over the last three days, also staking the tokens. On the other hand, whale address “EGzi…mR7g” bought 13,000 SOL tokens worth $2.3 million from Binance to bring its total holdings to 95,651 SOL. Interestingly, another smart Solana whale address recently sold 26,726 SOL worth $3.86 million. This whale, known for buying low and selling high, currently holds 42,729 SOL, which are valued at $7.61 million. At the time of writing, Solana is trading at $178, up by 8% in seven days. The accumulation and momentum are bullish, and a crash towards $40 seems bleak at the moment. Featured image created with Dall.E, chart from Tradingview.com

As the US presidential election approaches, former President Donald Trump’s odds on crypto betting platforms like Polymarket have surged, with analysts predicting significant implications for Bitcoin prices if he secures a second term in the Oval Office.  However, market expert Patrick H. warns that the current favorable conditions supporting Bitcoin’s rally toward a new record high may shift dramatically under Trump’s proposed fiscal policies for the coming year. ‘No Money Printing, No Gains’ In a recent analysis shared on X (formerly Twitter), Patrick H. posited that if Trump is re-elected and appoints Elon Musk as the head of the newly proposed Department of Government Efficiency (DOGE), the era of aggressive money printing could come to an end.  During a Trump rally at Madison Square Garden on Sunday, the Tesla CEO revealed plans for the DOGE initiative, suggesting it could reduce federal spending by at least $2 trillion.  Related Reading: Ethereum Holds Key Support To Set A $6,000 Target – Analyst Patrick H. argues that without continued money printing, there may be limited upward movement in Bitcoin prices. “No money printing, no price going up,” he stated.  The expert believes that the market may not be fully accounting for the ramifications of a Trump victory on both the cryptocurrency and stock market outlook for 2025. Additionally, Patrick raised alarms about the Bank of Japan’s concerns regarding the US stock market if Trump implements these proposed policies. He warned that such changes could lead to an “economic shock” in 2025, further complicating the landscape for crypto prices. The Bitcoin Rally And The Potential Impact For Altcoins Delving into the current price dynamics, market analyst Miles Deutscher recently said that despite Bitcoin trading just below its all-time highs, the market feels “unusually quiet,” attributing the silence to a lack of retail investor participation, which he argues is crucial for driving momentum in the cryptocurrency market. Deutscher pointed out that from October 2023 to March 2024, altcoins experienced significant rallies, with many rising four to five times from their lows. Coins in trending sectors, particularly those related to artificial intelligence and meme coins, even saw increases of 10 to 15 times during this period.  However, the analyst highlights that it wasn’t until February that retail interest re-emerged, as evidenced by metrics like Google Trends, app store rankings, and YouTube views. Deutscher believes that this delay in retail engagement raises an important point: substantial price movements in cryptocurrencies often occur without immediate retail participation.  According to the analyst, the Pareto Principle applies here—80% of gains typically occur during the final 20% of a price movement. This means that retail investors tend to wait until significant upward momentum is already established before entering the market, suggesting further price gains in the months ahead. Related Reading: XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline In the current context, the recent altcoin rally has only lasted four weeks following a six-month downtrend. Deutscher recalls that in the previous cycle, it took five months for retail investors to notice the market’s recovery.  The analyst predicts a similar pattern may unfold again, although he asserts that the trust built during the March rally could shorten the time frame for renewed retail interest. Still, Deutscher emphasizes that Bitcoin breaking through its all-time highs would serve as powerful marketing for the entire cryptocurrency space.  Ultimately, the analysts explains that the resulting “wealth effect” from the current Bitcoin rally is likely to catalyze further increases in altcoin prices, creating a positive ripple effect throughout the market. At the time of writing, the largest cryptocurrency on the market has managed to regain the $72,000 level after a brief correction to $71,400 in the past 24 hours. Featured image from DALL-E, chart from TradingView.com

A crypto analyst has made a bold prediction about the XRP price, highlighting that an explosive rise above $3 is not a matter of if but when. While XRP’s slow price growth over the years has tested the patience of many investors, the analyst is confident that the cryptocurrency’s fundamentals and market dynamics are aligning for a significant upward movement.   Timeline For XRP Price Surge Above $3 Popular crypto analyst Javon Marks has expressed optimism about the future outlook of the XRP price, predicting that the prominent cryptocurrency could be on the verge of a significant rally above the $3 mark. In an X (formerly Twitter) post on Tuesday, Marks revealed that the recent XRP price action indicated a “massive bullish breakout” to the upside. Related Reading: Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000 The analyst suggested that this upward momentum could happen very soon, implying that all the conditions and signs were pointing towards a substantial price shift for XRP in the future.  Sharing a detailed chart of XRP’s historical price movements, Marks noted that the cryptocurrency had formed a distinct triangle pattern, starting in 2014 and peaking in 2017. After breaking out of the triangle pattern in 2017, XRP experienced a dramatic price surge, reaching new highs before recording a short dip and then rallying again to its current all-time high of $3.84 in 2018.  Based on Mark’s price chart, XRP has formed another similar triangle pattern, which started around 2018 and is projected to peak in 2025. Marks pointed out that breaking out of this triangle pattern could trigger a massive increase in the XRP price, potentially pushing the cryptocurrency to new highs around $3.6 by 2025.  Price Remains Stagnant While Other Cryptocurrencies Rally Despite the optimistic price projections for the XRP price, the cryptocurrency has been facing immense downward pressure for the past few months. While other cryptocurrencies like Bitcoin, Ethereum, and most meme coins have been experiencing significant price gains amidst the positive shift in market conditions, XRP price has struggled to build momentum. Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? Data from CoinMarketCap has revealed that XRP is currently trading at around $0.5, recording significant declines, much to the frustration of long-time XRP holders and investors. While Bitcoin has skyrocketed to $72,000, Ethereum to $2,670, and Shiba Inu to $0.0000188, XRP has declined by 0.37% in the last 24 hours and decreased by 18.61% over the past month. Currently, XRP is being cited as one of the worst-performing assets in the crypto space, as its price has failed to break beyond the $1 mark since February 2022. This bearish price trend and slow momentum could be attributed to XRP’s bearish market sentiment and the ongoing legal battles between Ripple Labs and the United States Securities and Exchange Commission (SEC).  Featured image created with Dall.E, chart from Tradingview.com

Crypto analyst Tony Severino has said that the Bitcoin price is approaching the strongest part of the bull run. Based on his analysis, Tony provided insights into how high the flagship crypto could rise as it approaches its peak in this market cycle.  Bitcoin Price Target For Strongest Part Of This Bull Run Tony revealed in an X post that the Bitcoin price could reach a market top of $133,000 in this bull run. He explained that the BTC 2-month Relative Strength Index (RSI) is approaching 70, which has ignited the strongest part of every past bull run. In 2012, this led to a price surge of 11,000%. Meanwhile, it led to a price rally of 2,700% and 437% in the 2016 and 2020 bull run, respectively.  Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? The analyst noted that each peak in the successive bull run has been roughly around 20% of the previous cycle peak. Therefore, 20% of the 437% rally recorded in the 2021 bull run will put the Bitcoin price at this $133,000 price target. A potential rise to this target would give those buying BTC at its current price level a return of around 87%. Crypto analyst Ali Martinez also suggested buying the Bitcoin price as this level may not be a late entry. In an X post, he explained that the Market Value To Realized Value (MVRV) ratio has crossed over its 365-SMA (Simple Moving Average), a development that often signals major bull rallies. He added that this golden cross has just happened again.  The analyst’s accompanying chart showed that the Bitcoin price increased by 236% the last time this happened. Therefore, this indicates that despite the recent rally above $73,000, there is still so much upside for the flagship crypto in this market cycle.  BTC Could Rise To $462,000 Ali Martinez provided a more bullish outlook for the Bitcoin price than Tony regarding how high the flagship crypto could rise in this bull run. In an X post, he noted that BTC peaked between the 1.618 and 2.272 Fibonacci retracement levels in the past bull cycles. Related Reading: Analyst Says XRP Price Is Ready For A Breakout As Metrics Turn Bullish, What To Expect  If the Bitcoin price were to follow a similar pattern, Martinez remarked that the next BTC top could land between $174,000 and $462,000. Predictions on what could mark the top for Bitcoin in this market cycle continue to differ, although the consensus remains that the flagship crypto would rise above $100,000. Experts like Standard Chartered have even predicted that the Bitcoin price could rise above this $100,000 target this year if Donald Trump wins the US presidential elections.   At the time of writing, the Bitcoin price is trading at around $72,300, up almost 2% in the last 24 hours according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

A new bullish price target has been set for the Shiba Inu price, with an analyst revealing the major trigger that could push this top meme coin to the $0.000081 level. This optimistic price forecast follows recent substantial gains experienced by  Shiba Inu, indicating a potential for a major rally.  Shiba Inu Price Path To […]

Recent market inflows and dynamics have seen the Bitcoin price breaking free from a 7-month descending broadening wedge pattern. According to crypto analyst Gert van Lagen, Bitcoin’s breakout last week could signal the onset of a major price continuation phase as the bulls aim above the $70,000 mark. Particularly, Van Lagen highlighted that Bitcoin’s ability to successfully retest the upper trendline of this pattern lends strong momentum to the current bullish structure. The descending broadening wedge pattern is a reversal structure in technical analysis, often hinting at a strong trend upon breakout. Bitcoin’s ability to breach the upper trend line reinforces the likelihood of bullish momentum, lending voice to a new all-time high in the coming weeks. Bullish Retest Validates Strong Support For Next Rally At the time of van Lagen’s analysis, the Bitcoin price was retesting a bottom-sloping trend line, which has capped its price rallies since it reached an all-time high of $73,737 in March. By then, Bitcoin had already peaked out of this trend line in the descending broadening wedge and was already on the third candle.  Related Reading: Bitcoin ETFs Reach $3 Billion Inflows In October, Retail Investors Lead The Charge – Report As Bitcoin bounced from the upper trend line, van Lagen described this as a “successful bullish retest.” Furthermore, he noted the importance of a bullish trajectory for this pattern, highlighting that the breakout direction is upward 79% of the time.  With the Bitcoin price now successfully above this wedge, this next phase could see the cryptocurrency extend its gains and surge above $70,000. As such, the analyst also noted that reaching a new all-time high is essential to fully validating the wave continuation pattern. Key Bitcoin Price Levels To Watch While the breakout and retest offer promising technical signs, van Lagen warned of a critical downside level that traders should monitor. He pinpointed $58,700 as a crucial weekly closing price, below which the bullish structure would be invalidated. In his view, a close below this threshold would disrupt the quick wave five continuation and totally reverse the bullish setup to a new all-time high. Related Reading: Dogecoin Price To $24? Analyst Says No One Will Believe It Until It Happens Interestingly, Bitcoin has managed to push to the upside since this breakout. Particularly, the cryptocurrency has extended gains and has now broken above $71,000 for the first time since June. At the time of writing, Bitcoin is trading at $71,150, having reached an intraday high of $71,450 in the past 24 hours. As it stands, Bitcoin is only 3.6% away from reaching uncharted price territories. The only key price resistance level to watch at this point would be the current all-time high. Many Bitcoin metrics point to the continuation of bullish Bitcoin price momentum, at least in the short term. The Bitcoin open interest is now at its highest point of $42.6 billion, which relays a high level of trading activity among Bitcoin traders. Featured image created with Dall.E, chart from Tradingview.com

The Dogecoin price could soon reach the highly coveted $1, a milestone that many low-priced meme coins aspire to achieve. Taking this into consideration, a crypto analyst has unveiled a new technical pattern in the Dogecoin price chart called the ”Descending Megaphone.” The analyst has suggested that if Dogecoin can break out of this distinct pattern, it could set the stage for a significant rally to higher price targets. Dogecoin Price Eyes $1 Breakout Trader Tardigrade, a crypto analyst on X (formerly Twitter) has pointed out that the Dogecoin daily candle has just closed with a breakout into a “Descending Megaphone pattern.” While this unique technical pattern is a sign of increasing volatility especially during a downtrend, a break above the upper boundary of this chat pattern could indicate a potential upward move.  Related Reading: Cardano Price Prediction: Analyst Says 80-90% Correction Is Over With 100% Jump Imminent In the case of Dogecoin, if its price can move beyond the upper line of the Descending Megaphone pattern, it could signal the start of a huge rally. For more clarity, a Descending Megaphone is a bullish chart pattern formed by two diverging trend lines, with the upper line representing the resistance and the lower indicating support. The pattern typically looks like a megaphone with a downward tilt.  According to Trader Tardigrade, despite entering this unique chart pattern, the Dogecoin price has been showing signs of strength and momentum on the daily chart. Looking at the meme coin’s daily chart, the analyst has set a price target of $0.2, predicting that Dogecoin could rise to this level as part of its price action within the Descending Megaphone pattern.  Trader Tardigrade has shared that he is closely observing how the Dogecoin price behaves within this new pattern formation, paying particular attention to any movement towards the upper boundary of the Descending megaphone.  Responding to his bullish predictions, a crypto community member remarked that a $1 price target remains a highly anticipated dream for Dogecoin Trader Tardigrade replied, asserting that this ambitious and coveted price target is no longer a dream for Dogecoin. Bitcoin Price Discovery To Influence DOGE Rally Following his price forecast for Dogecoin, another community member suggested that the Dogecoin price may not reach the $1 target set by Trader Tardigrade without Bitcoin undergoing a price discovery. To this, the analyst simply responded “step by step.”    Related Reading: Bitcoin Stock To Flow Model Shows Price Is Ready For Next Phase Transition Above $100,000 The Bitcoin price discovery has been a central topic amongst various crypto analysts in the market lately. Notably, a crypto analyst identified as ‘Crypto Feras’ disclosed that if Bitcoin can break through critical price resistance levels, it could potentially revisit the $72,000, ultimately leading to a price discovery and an immense bullish situation.  Considering that a Bitcoin bull run often precedes bullish movements for other cryptocurrencies, Trader Tardigrade has affirmed that after a price discovery, the Dogecoin price could enter a major rally. As of writing, the Dogecoin price was trading at $0.164, marking a staggering 13.72% increase in the last 24 hours, according to CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com