Raoul Pal, the co-founder and Chief Executive Officer (CEO) of Real Vision Group, has predicted that the global crypto market will reach a market capitalization of $100 trillion. The financial expert has maintained a strong bullish position for the future of the industry, outlining several reasons why he believes the market will jump 44X from its current market capitalization. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge Crypto Market To Hit $100 Trillion Market Cap In a recent YouTube interview on the Blockworks Macro channel, Pal predicted that the total market capitalization of the crypto industry could jump from $2.5 trillion to $100 trillion in less than a decade. The financial expert disclosed that if the market maintains a steady growth rate and continues to evolve at a rapid pace, then it could see its market capitalization surging by up to 44X. In an earlier post on X (formerly Twitter), Pal disclosed that assets like cryptocurrency and technology perform extremely well during secular trends based on adoption. He highlighted that this growth rate was twice the speed of the internet’s adoption when comparing active wallets and IP addresses. The analyst has based his $100 trillion crypto market capitalization on the rate of adoption of the crypto industry, highlighting that the increasing number of cryptocurrency users will have a massive impact on the market’s value. Additionally, in the interview, Pal advised against taking unnecessary investment risks when engaging in cryptocurrencies. He disclosed that the goal should be to maximize investment opportunities without getting caught up in tribal or philosophical debates. He emphasized that with the cryptocurrency market potentially reaching a $100 trillion market capitalization, it’s unnecessary to take excessive investment risks. Instead, investors should balance risk and opportunity, utilizing the right portfolio management strategies to effectively capture the majority of the market gains. Market Liquidity May Continue Into 2025 During the YouTube interview, Pal forecasted that the current market liquidity cycle could extend into 2025. The Real Vision CEO disclosed that since 2008, there has been a notable cyclicality in global liquidity. Diving into the nuances of what he calls “The Everything Code,” Pal revealed that the current market cycle is significantly driven by the growth of market assets such as stocks, cryptocurrency and technology. He noted that the market was shifting towards a “Macro Summer,” marked by liquidity growth and often associated with the “Banana Zone.” According to Pal, the banana zone is a period of significant upward price movements where market indicators turn bullish signaling the start of a new bull run. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? The financial expert emphasized that the global liquidity cycle tends to have a predictable pattern which influences economic activities. He highlighted several factors that could also impact the cryptocurrency market cycle including the upcoming US Presidential elections and a potential rate cut by the Federal Reserve. Featured image from Pexels, chart from TradingView
The cryptocurrency market has taken an interesting turn in the last few days, with the price of Bitcoin enduring an intense amount of bearish pressure. On Thursday, July 4, the premier cryptocurrency broke below the $60,000 mark, falling as low as $57,000. BTC continued its price descent on Friday, with the market leader traveling down […]
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The cryptocurrency world is divided over the merits of meme coins – digital tokens inspired by internet jokes and pop culture references. Proponents hail them as a chance for explosive returns, while established figures like Bitcoin evangelist Adam Back scoff, calling them a passing fad. Related Reading: Crypto Ponzi Scheme Busted: US Court Orders Hedge […]
The post Bearish Charts Indicate Bitcoin’s Drop: Are We Heading for $48,500? appeared first on Coinpedia Fintech News
The price of Bitcoin has been struggling lately because the market sentiment isn’t great. Let’s break down what’s happening with BTC and why things look a bit gloomy. A Tough Spot for Bitcoin If you’ve been watching Bitcoin’s 1-hour chart, you’ve probably noticed that BTC is stuck at $56,700. It’s caught between the 20 day …
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Recent, selling of sized bitcoin by the German government has exerted selling pressure that triggered panic among crypto investors. This move has somewhat resulted in Bitcoin’s price dropping by 4.3% in the past day and over 6.63% in the past week, pushing it below the $54,000 mark. Perhaps, CryptoQuant CEO Ki Young Ju suggests that …
Crypto analyst Rekt Capital has provided insights into when the price of Bitcoin will reach its cycle highs. His analysis has provided reassurance that the flagship crypto is still far from a market top despite its recent decline to new lows this week. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge When Will Bitcoin Peak In This Bull Run Rekt Capital mentioned in an X (formerly Twitter) post that Bitcoin could peak in this cycle sometime in mid-September or mid-October 2025 if history were to repeat itself. The analyst noted that Bitcoin peaked 518 days after the halving event during the 2017 bull run and 546 days after the halving event during the 2021 bull run. Based on this, the analyst predicts that Bitcoin’s market top in this bull could occur between 518 and 546 days after the halving event, which happened earlier in April. This timeline puts the projected peak for Bitcoin sometime in September or October next year. Meanwhile, Rekt Capital again alluded to the fact that Bitcoin was accelerating in this cycle by 260 days earlier this year. However, that is no longer the case thanks to the over three-month consolidation period the flagship crypto has experienced since the halving event. Rekt Capital claimed that the rate of acceleration has “drastically dropped and is now approximately 150 days.” He added that Bitcoin will likely resynchronize with the traditional halving cycle the longer it consolidates. The crypto analyst has also refused to be deterred by Bitcoin’s current price action, which some claim suggests that the bull run is over. However, Rekt Capital has repeatedly stated that Bitcoin will retrace deep enough to convince anyone that the bull run is over, and then it will continue its uptrend. In another X post, Rekt Capital mentioned that Bitcoin’s downtrend, which began last month, is one to watch for a major trend shift. The analyst remarked that a break of the “multi-week downtrend would result in the beginning of at least a multi-week uptrend” for the flagship crypto. Bitcoin is now trading at $56,693. Chart: TradingView ‘This Is Not The Cycle Top Vibes’ Crypto analyst Mikybull Crypto also believes that the cycle top isn’t in yet despite Bitcoin’s recent decline, stating that this price action “is not the cycle top vibes.” The analyst also said that Bitcoin’s current sell-off bottom might be closer than everyone thinks and noted that this scenario played out in the third quarter of 2023 when most people thought it was over. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? The analyst previously mentioned that the cycle top isn’t in yet and simply classified this market downtrend as the “final shakeout” before Bitcoin reaches its peak in this bull run. Mikybull Crypto also claimed that Bitcoin has a cycle top price target of $171,000, meaning that the flagship crypto will still hit new all-time highs (ATHs) before the bull run was considered as being over. Featured image from Getty Images, chart from TradingView
Returning to their screens following the July 4 break, U.S. traders were confronted with prices that had plunged roughly 10% from pre-holiday levels.
Stuart Alderoty, the Chief Legal Officer (CLO) of prominent blockchain company Ripple, has criticized the US over its inaction in the establishment of clear crypto regulations. This development underlines the continuous calls for the economic superpower to form a stable regulatory framework for digital assets amidst consistent enforcement actions by the US Securities and Exchange […]
The post 2024 US Voters Bet Big on Bitcoin: What’s Fueling the Crypto Fever? appeared first on Coinpedia Fintech News
A recent survey conducted by Grayscale has many interesting discoveries a crypto enthusiast loves to hear. The prominent one is its revelation about the growing interest in Bitcoin among US voters. Let’s discuss a few key points revealed by the Phase 2 survey, held by Harris Poll for Grayscale from April 30 to May, 2024. …
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The cryptocurrency market has displayed a bullish recovery after trading under a bearish sentiment for four consecutive days. Moreover, the market leader BTC price has recorded a jump of 4.38% within the past day with a trading volume of $36.70 Billion, a change of -27.89%. Following this, the altcoin leader, Ethereum Price, has recorded a …
The cryptocurrency market continues its summer swoon, with major coins like Bitcoin tumbling to four-month lows. Chainlink (LINK), a key player in the decentralized oracle network space, has been especially hard-hit, dropping 25% since the beginning of June. But is this a buying opportunity, or the precipice of a steeper decline? Related Reading: Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage This Chart Pattern Looms Large Technical analysts are scrutinizing Chainlink’s chart, with a particular focus on the dreaded “Head and Shoulders” pattern. This formation, characterized by a central peak flanked by two smaller ones, often signals a trend reversal from bullish to bearish. Analyst Ali Martinez believes a breach of the neckline, the support level currently hovering around $12.70, could trigger a significant downturn. #Chainlink $LINK faces a potential 45% price correction if it falls below $12.70! pic.twitter.com/8NGwMzEIhR — Ali (@ali_charts) July 4, 2024 If LINK falls below $12.70, we could see a cascading sell-off, warns Martinez. This could push the price down to $6.80, a staggering 45% drop. Fibonacci retracement levels, a technical tool used to identify potential support and resistance zones, further bolster this bearish outlook. The 0.786 Fibonacci level aligns perfectly with Martinez’s target of $6.80, lending credence to his prediction. Bearish Sentiment Grips The Market Adding fuel to the fire is the overall bearish sentiment gripping the crypto market. The Fear and Greed Index, a measure of investor sentiment, currently sits at a chilling 26, firmly in “Fear” territory. This fear is reflected in LINK’s trading activity. The price is struggling to stay above the critical $12.70 mark, and any decisive break below could accelerate the sell-off. A Glimmer Of Hope: Oversold Territory And Price Prediction However, a glimmer of hope remains. The Relative Strength Index (RSI), another technical indicator, suggests LINK might be oversold. The RSI is currently at 28, dipping into “oversold” territory. This could signal a potential short-term bounce, as oversold assets often experience temporary price corrections. Interestingly, some analysts contradict the prevailing bearish sentiment. Price for LINK is seen increasing 52.73% by August 5th, pushing the price to a healthy $18.97. While technical analysis paints a bleak picture, this prediction offers a counterpoint, highlighting the inherent uncertainty within the crypto market. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? The Road Ahead For LINK Ultimately, the future of Chainlink remains shrouded in uncertainty. Technical indicators scream caution, while some analysts maintain a bullish outlook. The coming weeks will be crucial for Chainlink. Will it defy the bearish whispers and stage a comeback, or succumb to the gravitational pull of a deeper correction? Featured image from Coldkeepers, chart from TradingView
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After a turbulent week for the crypto market, the drop in prices has left an opportunity for investors to enter new or double down on their various positions. Fortunately, the blockchain intelligence firm Santiment has identified some of the large-cap cryptocurrencies to consider. These Cryptocurrencies Are In The Opportunity Zone: Santiment Santiment revealed via a post on the X platform has provided an interesting outlook on the crypto market, stating that some digital assets are showing “buy the dip” opportunities. This is based on their Market Value to Realized Value (MVRV) ratios, which measure the average profit/loss of all coins in circulation according to the current price. An MVRV ratio value greater than 1 indicates that the investors of a coin are holding a net amount of profits at the time. On the other hand, when the value of the metric is less than 1, it means that most investors of the particular crypto are carrying losses. Meanwhile, an MVRV ratio of 1 means that the unrealized profit on a blockchain is equal to the unrealized profit. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins Typically, corrections are believed to be more likely when profits are high, as investors are more inclined to sell as their gains grow. On the flip side, crypto holders are likely to refrain from dumping assets when they are in the red, leading to the formation of price bottoms. This forms the rationale behind Santiment’s Opportunity and Danger Zone investment analysis. In its recent post on X, Santiment mentioned that all notable large-cap crypto assets (except Toncoin) are in the buying opportunity in the short term. As shown in the chart below, the 30-day Market Value to Realized Value ratio of these assets is deep in the negative, implying there is less risk attached to investing in them at the moment. According to Santiment’s data, Dogecoin (DOGE) — with an MVRV ratio of –19.7% — has the best “buy the dip” potential. It is followed by Uniswap’s governance token UNI, with a Market Value to Realized Value ratio of –16.3%. To round up the top three is Litecoin (LTC), which bears an MVRV ratio of –15%. Bitcoin, the largest cryptocurrency by market cap, is amongst the mentioned assets within the opportunity zone. Having undergone a steep correction in the past week, the MVRV indicator is signaling that the premier cryptocurrency might have bottomed out and could be preparing for a move to the upside. Crypto Market On A Downturn The crypto market suffered a massive decline over the past week, with the total market capitalization falling by nearly 8%. This market downturn seems even deeper on bigger timeframes. For instance, in the last 30 days, the digital market has shed more than 21.5% of its value. Related Reading: Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price? Featured image from Shutterstock, chart from TradingView
Binance’s alleged illegal operations were highlighted in court on July 5, with a central bank official testifying on the lack of necessary licenses and regulatory approval.
An official at the Central Bank of Nigeria (CBN) has stated that Binance operated illegally in multiple ways in the West African nation. This development comes amidst the ongoing legal trial of the prominent crypto exchange in Nigeria. Related Reading: Nigerian Crypto Boom Resurrected? SEC Embraces Innovation With New Rules Binance Violated Naira Trading Policy […]
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The post Top Three Altcoins To Buy Next Week appeared first on Coinpedia Fintech News
Surviving a market crash, the altcoins market signals a potential recovery rally in the upcoming week. As Bitcoin reverts from $52,500 to $56,5000, the low-cap altcoin skyrockets with increased momentum. As the cryptos are ready to overcome the massive supply dump, these low-cap crypto gems are worth looking out. So, let’s examine our choice of …
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A big crypto turnover is coming next week! The U.S. House of Representatives may vote next week on whether to overturn President Biden’s veto of Staff Accounting Bulletin 121 (SAB 121). SAB 121 is a proposed rule that requires companies reporting to the SEC to include their cryptocurrency holdings on their balance sheets as per …
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As Bitcoin struggles to stabilize around $56,600 after briefly dropping to $53,500, crypto analysts are making bold predictions that could spark investor excitement. With speculation that Bitcoin has hit its bottom and the Ethereum ETF set to go live, altcoins are poised for a significant surge. The crypto analyst asserts that Bitcoin’s final bottom lies …
Following a widespread crypto market crash on Friday, the price of Ethereum took a severe price hit falling by about 10%. While the prominent altcoin has made a minor recovery since then, its price slip has revealed some vital information on the holdings of Tron founder and key crypto figure Justin Sun. Related Reading: Doomsday for Ethereum? ‘A Crash Down To $1,500 Is Coming,’ Says Skeptic, Here’s Why Justin Sun $66 Million Loss, Motive For Massive Bitcoin Buy Offer? Amidst the market mayhem on Friday, blockchain analytics platform Spot on Chain shared an intriguing report on Justin Sun’s investments in Ethereum. In an X post, Spot on Chain stated that Sun has allegedly acquired 361,000 ETH (worth $1.1 billion) over the last five months. The Tron founder reportedly made this investment using three different wallet addresses purchasing 169,604 ETH with “0x7a9” in February at an average price of $2,870, 176,118 ETH with “0x435” in April at $3,177, and 15,416 ETH with “0xdbf” in June at $3,474. Spot on Chain noted that the aforementioned addresses always received ETH deposits from Binance following Sun’s stablecoin deposits on the exchange thus leading to suspicions that the Tron founder served as owner of these wallets. Following the repayment of creditors by defunct exchange Mt. Gox, coupled with a consistent massive Bitcoin sell-off by the US and German governments, the price of Bitcoin has plummeted by 10% over the last two days falling as low as $53,717. Unsurprisingly, this decline soon extended across the crypto market, with Ethereum crashing by a similar percentage to trade at $2810, marking its lowest price in the last five months. At that point, Justin Sun’s alleged ETH investments reached a $66 million loss. Interestingly, the Tron founder had reached out to the German government on Thursday to negotiate the sale of their remaining BTC holdings valued at $2.3 billion in a private transaction order. However, it remains unknown if the German government will take up this offer as Sun attempts to reduce the impact of their constant BTC sell-offs on his personal investments and the general crypto market. At the time of writing, Ethereum has shown resilience since its earlier slump rising by about 5% to currently trade at $2,975. In tandem, the token’s daily trading volume is up by 47.33% and valued at $30.47 billion. Related Reading: Analyst Predicts Ethereum Nosedive, Cautions Investors To Prepare For $2,700 Target Solana, Others Record Market Gains Amidst Market Crash While the general cryptocurrency remains in a downtrend, with the total market cap down by 1.02%, several assets have managed to stay afloat providing investors with some form of relief. According to data from CoinMarketCap, Solana is one of these assets, with a 4.99% daily gain alongside other prominent tokens such as Avalanche (AVAX) and Shiba Inu with respective gains of 3.99% and 3.70% respectively. Notably, prominent meme coin dogwifhat leads the resistance with the highest daily gain of 12.28%. Featured image from Bloomberg, chart from Tradingview
The post Top Cryptos To Buy Now As Crypto Market See Reversal appeared first on Coinpedia Fintech News
Relighting the hopes of a bull market, the overnight reversal in Bitcoin projects a potential recovery in the altcoins. With the BTC price back to $56,500 and Ethereum above $3,000, the altcoins market is quick to bounce back. With the meme coins and other altcoins quick to bounce back from the market crash, the bull …
Venture capital (VC) firm, Multicoin Capital, has recently announced its commitment to support pro-crypto Republican lawmakers with a substantial donation of up to $1 million worth of Solana (SOL) tokens. The firm aims to bolster the presence of crypto-friendly candidates in the US Senate by matching all donations of Solana tokens to the Sentinel Action […]
BTC selling volumes generated by nation-states are a drop in the ocean in this bull market, argues CryptoQuant’s Ki Young Ju.
Bitcoin remains under immense liquidation pressure at press time. After two days of lower lows, not only did bears reject $63,000 but cratered below May 2024 lows today. BTC Drop Purging Speculators, Markets Shifting To Spot Trading Amid the fear gripping the market following this wave of liquidation, one analyst took to X, saying the […]
The Bitcoin price correction provided a strong opportunity for ETF investors to buy the dip.
As the US presidential election approaches, crypto traders and analysts are speculating that a victory for Donald Trump in November could significantly boost the Bitcoin price to new heights, according to a report by the Financial Times. Despite expectations of a post-Halving rally, BTC has struggled to gain momentum since April, facing various factors such […]
The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level. Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the situation. According to the analysis, a daily close below the 200 daily exponential-moving average (EMA), currently positioned at $58,000, indicates a strong likelihood of Bitcoin’s price dropping to $44,000. The analyst cautions against waiting for a bounce after the daily close below the 200 daily EMA, emphasizing the historical significance of such a breach. Related Reading: XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst Blockchaineddbb’s analysis reveals the historical impact of losing the 200 daily EMA. Each time Bitcoin experienced this loss, its price declined by an average of 30%, with losses ranging from 8% to 50%. The breach of the 200 daily EMA signifies Bitcoin entering an unsafe territory, heightening investor concerns. To mitigate potential losses, the analyst suggests considering an exit point before the expected further decline to $50,000, which is the next significant support level. Navigating The Bearish Storm Blockchaineddbb provides average support levels to consider during the bearish sentiment for those who choose to hold their positions. These levels are estimated at $50,000, $48,000, and $44,000, with the latter being the worst-case scenario. Long-term holders are advised to adhere to their planned averaging strategy, which involves accumulating positions on specific dates such as June 22, September 22, and December 22. According to the analyst, the target exit price remains at $75,000, with expectations of achieving this milestone by December. Considering various factors, such as a predicted September dump, the Mt. Gox settlement deadline, and upcoming elections, the analyst suggested that the prevailing bearish sentiment will persist until December. Related Reading: Is This Bad For Solana? $180 Million Transfer Raises Eyebrows Ultimately, if the current bearish sentiment continues, altcoins are expected to suffer losses until the year’s end. It is worth noting that a potential shift in this scenario would only occur if Bitcoin manages to close above the 200 Daily EMA. However, the probability of that happening appears low. Currently, the Bitcoin price stands at $56,435, just below the critical $58,000 EMA, after falling as low as $53,500 in the early hours of Friday trading. Featured image from DALL-E, chart from TradingView.com
The post Bitcoin Whale Alert: Dormant Whale Resurfaces To Sell 1,004.5 BTCs Worth $56.9 Million! appeared first on Coinpedia Fintech News
A wallet holding 1,004.5 Bitcoins has resurfaced today during the early trading hours after being dormant for over 10 years. Reportedly, this whale had received two transactions of 620 BTCs and 383.99 BTCs on 25th November 2013 and 13th March 2014 which totaled 1,004.5 BTCs worth $738K at that time with an average price of …
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Bitcoin fluctuated in July and the past few months, but it dropped dramatically to $53,000, its lowest level since early this year. The pressing question on every Bitcoin investor’s mind is how far this downtrend will pull the price down. Let’s analyze the possibilities in depth. Are you ready? In his video analysis, Altcoin Daily …