Author: NBTC
It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles” are any indication, a major price correction…
Bitcoin’s history is filled with stories of people who put small, disposable amounts of money into the crypto and ended up making a fortune. This has been no different from the case of one Norwegian man, whose throwaway $22 Bitcoin investment has turned into a life-changing sum. When Kristoffer Koch had originally invested in Bitcoin back in 2009, the cryptocurrency was only trading for a few cents. Koch, at the time, was intrigued which is why he said he made the purchase. He got 5,000 BTC for around $22 at the time, although this figure often varies. Nevertheless, Koch ended…
Upland, a number one web3 Metaverse Tremendous App, has introduced that its in-game utility token, Spark, will quickly be tradable past Upland’s boundaries on the Ethereum blockchain. This determination got here after an amazing 87.25% of the Upland neighborhood voted in favour of the initiative. This aligns with the platform’s objective to construct the world’s most intensive digital open financial system throughout the metaverse. Delving Into the Sparklet White Paper Upland’s management offered the neighborhood with the Sparklet White Paper in late September to set the stage for this transformative change. The detailed doc gives insights into bridging Spark to…
Ethereum price is trading at roughly $1,550 after failing to get back above $2,000 throughout the entirety of 2023 thus far. Increasingly higher lows during the year and a horizontal resistance zone had formed an ascending triangle – a potentially bullish chart pattern. This pattern, however, is possibly failing. A busted pattern target could send the price per ETH sub-$1,000. Is the bullish chart pattern breaking down? | ETHUSD on TradingView.com Ethereum Ascending Triangle Begins Breakdown: Target $700 Ethereum put in its bear market low back in June of 2022 while Bitcoin and other coins kept falling through the end…
As the bear market continues to linger, analysts have weighed in on the decline of the flagship cryptocurrency, Bitcoin, and the crypto market, by extension. This time, another crypto analyst has explained what is influencing Bitcoin’s price decline. Factors Causing BTC’s Decline Bitcoin notably dropped below the $27,000 level on October 12. Addressing this decline in a recent episode on the ‘Cheeky Crypto’ YouTube channel, Crypto analyst Nick noted that there wasn’t much going on in the news and the only thing that could have affected Bitcoin’s drop was the US inflation data, which was recently released with the CPI…
Grayscale Investments, a company that controls a $16.6 billion Bitcoin Trust, has come out victorious in terms of a lawsuit that was filed against the company by the Securities and Exchange Commission (SEC). The case was conducted in the D.C. Circuit Court. This will help open the doors for the company to exchange its GBTC for a spot Bitcoin ETF. This will make Grayscale the first company in the US to do so. Analysts like Timothy Peterson and Crypto Rover are monitoring the situation, keeping in mind the present 17% Grayscale GBTC discount. In the event that the conversion receives…
The College of Glasgow has taken a big stride in direction of mixing training with digital innovation by the launch of the £5.6 million “Museums in the Metaverse” challenge. With monetary help from the UK Authorities’s Innovation Accelerator programme, this initiative seeks to mix historical past, heritage, and tradition with prolonged actuality (XR)—an umbrella time period encompassing digital actuality, augmented actuality, and blended actuality applied sciences. Historic Heritage with Digital Innovation This bold challenge goals to create a two-sided XR platform. The primary aspect of the platform is designed to offer digital entry to a big selection of museums, historic…
The cryptocurrency landscape is once again rife with speculation as Bitcoin traverses its current fourth halving cycle. Amidst varied predictions, renowned crypto analyst CryptoCon’s insights, grounded in the Gann Square methodology, the November 28 Halving Cycles theory, and the 5.3 Diminishing Returns theory have garnered significant attention. CryptoCon remarked via X (formerly Twitter) today, “The Gann Square predicts either $89,000 or $135,000 for the Bitcoin top this cycle.” He emphasized the accuracy of the Gann Square theory during previous cycles, pointing out its precision in predicting the cycle tops. Will Bitcoin Price Reach $135,000? According to the analyst, by leveraging…
Ethereum has struggled alongside Bitcoin through the current bear market climate but this has not stopped bullish predictions for the digital asset. The most recent bullish prediction comes from British multinational bank Standard Chartered which believes that the Ethereum price could climb higher than $8,000. Factors That Could Trigger The Rise Geoff Kendrick, Head of Digital Assets Research at Standard Chartered Bank has revealed his forecast for the Ethereum price in a research note. According to the researcher, he sees big things in the future of the digital asset which could climb higher than $8,000 in the coming years. Talking…
In a recent research report from JPMorgan, the financial firm has predicted a harsh drop for one Bitcoin metric, forecasting a potential decline of the Bitcoin Network Hash Rate by 20% leading up to the Bitcoin halving in April 2024. JPMorgan Expects Bitcoin Hash Rate To Drop In the report, JPMorgan stated that the Bitcoin mining industry is at a crucible stage leading all the way to the Bitcoin halving in April 2024 and beyond. This is because the approval of a Spot BTC exchange-traded fund (ETF) could spark a rally against the backdrop of record hash rates and the…