Author: NBTC
Thanksgiving is a fascinating period for bitcoin (BTC), often showcasing wild price swings and headline-grabbing moments. Feast or Famine in 2024? Bitcoin’s Thanksgiving History Leaves Investors Guessing Over the last five years, bitcoin’s holiday behavior has piqued the curiosity of investors and analysts. From dramatic tumbles to meteoric climbs, Thanksgiving has consistently spotlighted the currency’s unpredictable nature and ability to make waves. 2020’s ‘Thanksgiving Day Massacre’ Thanksgiving 2020 is etched in memory for the “Thanksgiving Day Massacre,” a rapid and steep drop in bitcoin’s value. Prices plummeted 17% within hours, sliding from $19,500 to $16,200. The nosedive rattled investors, but…
So why were Kaia prices on crypto exchanges so buoyant recently? It could be a combination of competitive advantages in this crypto economy promising more fundamental value per unit of its currency and an overall bull run in utilities for the Web3 ID layer to provide blockchain identity services. Klaytn, the Web3 GameFi and metaverse developer team behind Kaia, recently switched up the stock ticker symbol. On Oct. 31, it rebranded KLAY tokens to KAIA. The change coincided with a merger between the Klaytn and Finshcia blockchain currency economies. $KLAY ➡️ $KAIA ticker change incoming! On Oct 31, the KLAY…
Bitcoin has confirmed a precise retest of its symmetrical triangle’s lower boundary, validating the chart pattern’s formation. A breakout above the triangle’s upper trendline could signal a bullish continuation, while a breakdown may lead to bearish pressure. Increased trading volume near the apex of the triangle will likely indicate the direction of Bitcoin’s next major price move. The BTC cryptocurrency has responded to a key level which lies within the symmetrical triangle chart formation which implies an up move. This technical formation which many look for before fresh direction signals, shows the potential of Bitcoin to change direction as more…
Solana developers have proposed increasing the network’s block compute limit from 48 million to 50 million units to handle more transactions and enhance network efficiency. According to details shared on GitHub via a Solana improvement document, this incremental increase aims to improve transaction processing without compromising the network’s performance. Andrew Fitzgerald, a software developer at Anza and the proposal’s author, mentioned on X that the idea is still in draft form. This indicates that further refinements could occur before final approval. The proposal A block limit is a safeguard, ensuring that most network participants can keep pace with activity by…
Cryptocurrency analytics firm Alphractal has released its latest market assessment, focusing on Bitcoin’s Reserve Risk indicators, which are showing critical signals that could shape the market’s direction. While indicators point to potential overbought conditions, there may still be room for optimism. The report highlights a sharp increase in Moving Value of Coin Days Destroyed (MVOCDD), reflecting increased activity among long-term Bitcoin holders. This increase is indicative of intense market movement, which is usually associated with higher volatility and risk of price corrections. In addition, Reserve Risk, a key metric that assesses the balance between long-term Bitcoin holder confidence and the…
Every single ADA holder is the CEO of Cardano, according to a recent tweet from Cardano’s founder Charles Hoskinson. His statement highlights a widening gap in perspective regarding management and leadership in blockchain projects, even though it is entirely consistent with Cardano’s decentralized philosophy. For many years, Cardano has been promoted as a project that values community involvement and decentralized governance. This fundamental tenet is reflected in Hoskinson’s assertion that the network’s stakeholders hold ultimate control. In order to establish himself as a guiding visionary, Hoskinson has separated himself from Cardano’s daily operations over the years. Although this strategy supports…
Bitcoin (BTC) is approaching a $2 trillion market cap, currently at $1.89 trillion, after rising 38% in the past month and breaking new all-time highs in November. Expectations remain high as BTC price nears the $100,000 milestone, a level it is less than 5% away from reaching. While the ADX suggests the trend is weakening, the NUPL indicates that BTC is far from the “Euphoria” zone, reducing the likelihood of strong corrections. BTC’s Trend Is Losing Steam Bitcoin ADX, currently at 17.4, reflects a weakening trend compared to its value of 26 just two days ago. The ADX, or Average…
In the past hours, a shocking event has taken place in the NFT world. According to PANews, a seller sold 5 Pudgy Penguins NFTs for a mere total of 175 USDT. This incident has created a massive stir in the NFT market. The Details of the Unfortunate Sale The Pudgy Penguins project is known as one of the most popular collections in the NFT world. This collection of adorable penguin figures garners significant attention among collectors. The fact that the seller traded such a valuable asset for such a low price has left many in disbelief. Some sources suggest that…
Holders of FTX’s FTT will be allocated 0.35% of the new Pudgy Penguins token PENGU, according to the NFT project’s distribution plan. Pudgy Penguins announced the launch of PENGU early on Friday. A total of 88 billion tokens will distributed, with 17.8% allocated to the project’s team, 25.9% to NFT holders, and 12.35% to liquidity. FTT holders will receive a share of 308 million tokens. Since the announcement, FTT rose by 7.7% to $3.75 before falling back to $3.39. However, roughly 13 hours beforehand, it had climbed 40%. X user @DarkCryptoLord claims this pre-pump was a sign that “someone’s committing…
Bitcoin (BTC) has slumped back to $95,000 after coming within a few hundred dollars of passing the symbolic $100,000 price level. But the largest cryptocurrency is only catching its breath before surging to newer heights, according to investment management firm ARK Invest. “We’re more or less anticipating $104,000 to $124,000 price targets by end of year,” David Puell, one of the firm’s research associates, told CoinDesk in an interview. “With the caveat that it’s not a recommendation, but so far, price action has kept up to that projection quite nicely.” Puell’s calculus is based on bitcoin’s seasonality — a term…