Category: Crypto News (Page 2 of 15)

This CEO Now Sees Bitcoin (BTC) Surge to $100K

February 12, 2024 / Frank Nez

This CEO now sees Bitcoin (BTC) surge to $100K primarily based on the increasing ETF inflows, sources report.

The co-founder and CEO of market intelligence firm CryptoQuant thinks that Bitcoin exchange-traded funds (ETF) inflows could propel BTC to a new all-time high in the coming months, reports The Daily Hodl.

Ki Young Ju tells his 332,900 followers on the social media platform X that in a bullish scenario, he sees Bitcoin surging above $100,000 by the end of 2024.

The analyst bases his prediction on two metrics: BTC ETF inflows and Bitcoin’s realized cap, an on-chain metric that attempts to provide a better estimate of the crypto king’s market capitalization by eliminating long-lost and unclaimed coins in the calculation.

Using BTC’s realized cap, the CryptoQuant CEO identifies the potential ceiling and floor prices for Bitcoin this year.

“Bitcoin could reach $112,000 this year driven by ETF inflows, worst-case $55,000.”

Bitcoin Price Prediction 2024 - Can Bitcoin reach $100K? — Bitcoin Price Prediction 2024 – Can Bitcoin reach $100K?

Looking closer at the on-chain metric, Ki Young Ju says Bitcoin’s realized cap currently sits at $451 billion.

But he says ETF inflows could push BTC’s realized cap to more than half a trillion dollars.

“[The] Bitcoin market has seen $9.5 billion in spot ETF inflows per month, potentially boosting the realized cap by $114 billion yearly.

Even with GBTC (Grayscale Bitcoin Trust) outflows, a $76 billion rise could elevate the realized cap from $451 billion to $527-$565 billion…

With current spot ETF inflow trends, the top price could reach $104,000-$112,000.”

Bitcoin (BTC) is currently trading at $50,000 at the time of this publication.

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Also Read: How To Invest In Bitcoin Cryptocurrency For Beginners

Other Crypto News Today

Bitcoin will now surge to $200,000 in 2025 says pseudonymous analyst Dave the Wave, per his crypto market data.

“BTC just shy of $200,000 in 2025 based on this prediction,” he stated to his 144,400 followers on social media.

He bases the estimate on Bitcoin’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator, as well as Fibonacci extension levels, which keep track of potential areas of support and resistance, reports The Daily Hodl.

Looking at his chart, the trader suggests the LMACD indicator is showing BTC has reached a market bottom and is in an uptrend that will reach nearly $200,000 by October 2025.

The trader also uses his version of logarithmic growth curves (LGCs), which aim to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility.

“BTC solid and sideward within the range so far.”

Will Bitcoin Reach $200,000? Dave the Wave crypto market analysis.

According to the trader’s chart, the LGC’s support levels could be tested at the longer-term end of the channel near $30,000 or potentially at $38,000 if its shorter ascending channel stays intact.

The trader believes that the logarithmic chart accurately provides a longer-term view of Bitcoin’s price action.

“It really is astounding the effect time has on our perceptions – just three years ago the current BTC price in the $40,000 range was blowing everyone’s mind, where today it is thought all a bit passé.

This has something I think to do with ‘time preference’, where those with a high-time preference are very much focused on the present (present-minded), while those with the low on the future (a more ‘elastic’ frame of mind).”

Bitcoin $200,000 price prediction - Dave the Wave. — Bitcoin $200,000 price prediction – Dave the Wave.

Bitcoin (BTC) is currently trading at $45,163 at the time of this publication.

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Also Read: Crypto Investors Now See Bitcoin (BTC) Surging to Whopping $100K

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Analyst Says Cardano (ADA) Is Now Setting Up To Surge

February 9, 2024 / Frank Nez

An analyst says Cardano (ADA) is now setting up to surge after the cryptocurrency formed a pattern indicating a potential rally.

In a new thread, crypto strategist Ali Martinez tells his 44,000 followers on the social media platform X that the price of ADA could go up based on the cryptocurrency’s descending triangle chart pattern.

A descending triangle is generally considered a bearish signal as a continuation pattern in an established downtrend, but a breakout in the opposite direction known as a reversal pattern is bullish.

Martinez says Cardano may surge to $0.68 once it starts moving to the upside.

The crypto asset is currently trading for $0.54, up by 5% over the last 24 hours.

“Cardano shows signs of a descending triangle formation on its daily chart.

A sustained daily close above $0.53 could lead to the start of a 32% rally, potentially pushing ADA up to $0.68!”

Cardano Market Analysis - Ali Martinez. — Cardano Market Analysis – Ali Martinez.

Last month, the crypto analyst and trader also said that Cardano may see gains of over 1,300% as the asset goes through a consolidation phase similar to that in 2020 which catapulted ADA to its all-time high price of over $3, an increase of more than 2,900%, reports The Daily Hodl.

According to data from the market intelligence platform IntoTheBlock, a significant percentage of Cardano investors are long-time holders of the asset.

“23% of Cardano holders have held their ADA for more than 5 years.”

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Also Read: Bitcoin Will Now Surge To $200,000 in 2025 Says Analyst

Other Crypto News Today

Binance will now launch a massive Web3 crypto gaming project built on Ronin (RON) which will be focused on farming and exploration.

The top global crypto exchange says the 46th Binance Launchpool project will be Pixels (PIXEL), a blockchain-based, open-ended game focused on farming and exploration.

Launchpool allows users to stake coins to farm new assets, reports The Daily Hodl.

Starting on Friday, Binance users will have 10 days to stake BNB and the stablecoin First Digital USD (FDUSD) in separate pools to farm PIXEL tokens.

The exchange will then list PIXEL for trading on February 19th and apply a seed tag to the asset.

Binance applies seed tags to lower-liquidity tokens that have more volatility potential, and users who own assets with tags are required to pass quizzes every 90 days to ensure they’re aware of their inherent risks.

Pixels promoted the exchange listing on the social media platform X and noted that the game surpassed more than 180,000 daily active users (DAU) in 2023.

“Our explosive growth can be attributed to two core factors: our community and our migration to Ronin, Sky Mavis’ proprietary blockchain. Behind every successful web3 game is a thriving, engaged, and passionate community.

We started with a core, devoted community that has only expanded as Pixels was introduced to the players in the Ronin ecosystem.”

Ronin (RON) is a gaming-focused Ethereum (ETH) sidechain.

“With the listing on Binance and the sunset of $BERRY to create a sustainable ecosystem, we are confident that Pixels’ best days are ahead,” the network said.

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Also Read: A Veteran Trader Now Becomes Super Bullish on Bitcoin BTC