Author: NBTC

Ethereum’s Elliott Wave analysis signals a bullish outlook, with $3,692 as key resistance and $3,338 as critical support. Wave (5) targets Fibonacci extensions near $3,938, contingent on ETH holding its long-term ascending trendline. A break above $3,692 could propel Ethereum higher, while a dip below $3,338 may test key retracement levels at $2,815 and $2,639. Ethereum currently trades below $3,692, signaling a critical juncture for potential upward momentum. According to analyst MoreCryptoOnline’s analysis, the price structure aligns with the Elliott Wave theory. Notably, ETH’s price continues its impulsive and corrective cycles. Analyst projections suggest ETH could extend higher if pullbacks…

SOS Limited, a Chinese data mining and technology company, announced on Nov. 27 that its board has approved a $50 million investment in Bitcoin (BTC) to diversify its assets and capitalize on the flagship crypto’s growing strategic significance. The company disclosed that it plans to implement various strategies for the investment, including direct acquisition, quantitative trading, and arbitrage. SOS described Bitcoin as a “key digital asset” with the potential to play a significant role in global reserve strategies. Following the announcement, SOS Limited’s shares skyrocketed nearly 100% on Nov. 27, reflecting heightened investor enthusiasm. The company attributed the decision to…

Prominent crypto expert Elite Crypto expresses frustration with recent activities relating to XRP, pledging never to touch the cryptocurrency again. The crypto expert made the assertion recently in an X post. In the tweet, Elite Crypto highlighted two primary reasons they are no longer interested in XRP. First, the expert fumed at XRP’s performance, likening it to a stablecoin due to its stagnant price movement over the past two years. The accompanying data shows that XRP has been trading within a particular range in this timeframe, which made Elite Crypto suggest that XRP’s price action is similar to that of…

Mags, a technical analyst with a decade of experience in Bitcoin, recently shared what he describes as a simple strategy for consistent success in the Bitcoin market. According to the seasoned analyst, the key action is to enter the Bitcoin market 500 days before a halving cycle. This timeline provides investors with a suitable window to purchase Bitcoin at lower prices, as the market is expected to be at a bottom by then. Holding Through the Storms and When to Sell Mags’s second strategy recommends holding onto the investment during the periods that follow, without getting shaken out. This is…

A streak of inflows into U.S.-listed spot ether (ETH) exchange-traded funds (ETFs), rising activity on the Ethereum blockchain and increased institutional trading interest could help the second-largest cryptocurrency by market cap surpass its three-year-old price record in the coming months. “ETH spot ETFs continue to record strong net inflows, totaling $90.1 million yesterday and marking a 4-day winning streak,” QCP Capital said in a note referring to Wednesday trading. “Despite this week’s retracement, these healthy inflows highlight the market’s growing optimism. ETH was the main outperformer Wednesday as it rallied 11.65% to a high of 3,688. This is aligned with…

Key Takeaways Celsius Network’s second distribution of $127 million raises recovery rate to 60.4% for creditors. Creditors will receive Bitcoin valued at $95,836.23, the weighted average price for this distribution. Celsius Network is distributing $127 million to eligible creditors in its second payout under bankruptcy proceedings, following the crypto lender’s collapse in July 2022, according to court filings. The latest distribution raises the total recovery rate to 60.4% of eligible claims, building on January 2024’s initial payout that delivered approximately 57.65% of eligible claims in liquid crypto assets or cash. The second distribution consists primarily of liquid crypto assets, with…

The Shiba Inu marketing lead known under the pseudonym Lucie has addressed the SHIB army with an intriguing tweet, which raised a wave of positive comments from the community. The tweet consists of just four words and it seems to be meant as a motivation post. Even though it does not mention any Shibarium update or project in particular, it urges the SHIB army to be patient and believe that the best times for the Shiba Inu ecosystem are ahead. Step by step Patience — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) October 25, 2024 This is a likely reference to a Friday post, where…

Too much of this space, and things being built around it, is centered around essentially mimicking the legacy financial system. There is not much being built trying to blaze new grounds. Micropayments, while admittedly something I’ve been very critical of due to the user experience of having to think about tiny transactions all day, has seen almost no real experimentation or development in trying to solve that UX problem at scale. I struggle to think of any application that is truly innovative. Yes, things like crowdfunding or micropayments in games remove a central point of control that can be used…

In the past 30 days, Ethereum’s (ETH) price has surged by 33%, fueling speculation about the cryptocurrency’s potential to hit new highs. While it seems unlikely as this month draws to a close, analysts’ Ethereum December prediction could bring in more gains for holders. BeInCrypto explores these forecasts, uncovering the key drivers behind the bullish sentiment surrounding ETH. Analyst Bullish on Ethereum, but Give Conditions According to Juan Pellicer, Senior Researcher at IntoTheBlock, Ethereum’s December prediction could see the cryptocurrency hit a new all-time high. However, in his opinion, Pellicer said that this would only come to pass if ETH…

The Fifth Circuit Court’s ruling on Tornado Cash on Wednesday has triggered widespread optimism, with decentralized protocols on Ethereum and privacy-focused tokens seeing significant gains. On Tuesday, the court found that immutable smart contracts aren’t property and can’t be sanctioned under existing laws, signaling what some observers claim as a major win for privacy advocates. “While the ruling does not endorse money laundering, it establishes a precedent allowing programmers to develop and release smart contract protocols without fear of sanction, provided they do not charge fees,” 10X Research said in a note to investors on Wednesday. The move could also…