Author: NBTC
The CEO of Jan3 and Bitcoiner, Samson Mow, has once again reiterated his ultra-bullish prediction for Bitcoin. The Bitcoin advocate noted that the ‘Max Pain Theory’ was still in play, and this is one of the reasons why he isn’t backing down from his assertion that Bitcoin will hit this price level sooner rather than later. Bitcoin’s Rise To $1 Million To Happen “In Days To Weeks” Samson Mow stated in an X (formerly Twitter) post that his “main prediction” is that Bitcoin’s run to $1 million will happen in “days to weeks.” However, he further claimed that the starting…
In the ever-fluctuating world of cryptocurrencies, crypto analyst Doctor Profit has shared his insights on the upcoming trajectory for Bitcoin amid the digital asset’s price decline. Here’s What’s Next For Bitcoin The cryptocurrency analyst took to the social media platform X (formerly Twitter) to share his projections with the crypto community. Doctor Profit offered his insights after correctly foreseeing the recent drop in BTC, which started at the $48,000 price mark. The analyst correctly identified the $48,000 level as a major resistance level and advised the community to short at this level. His accuracy in predicting has brought him a…
Despite the United States Securities and Exchange Commission (SEC) granting approval for Spot Bitcoin ETFs, TD Cowen, a prominent American investment bank and financial service firm, foresees potential delays in the approval process of Ethereum Spot ETFs. Ethereum Spot ETF Faces Potential Hold-Up TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance of Ethereum Spot ETF from May 23 to August 7,…
The Bitcoin market is experiencing a period of adjustment following the much-anticipated launch of US spot ETFs last week. After a surge to a two-year high near $49,000, the leading cryptocurrency has pulled back over the past four days, currently trading at $42,588 with a market capitalization of $834 billion. This correction presents an opportunity to assess the underlying dynamics and potential future trajectories of the digital asset. ETF Approval Hype Fades: Markets React The initial excitement surrounding the ETF approval was palpable, fueling a rapid price increase as investors anticipated increased accessibility and institutional adoption. However, profit-taking and market…
Bitcoin’s hash rate, that is the network’s computing power, recently reached a new all-time high amidst the frenzy that came with the debut of spot Bitcoin ETFs in the US. According to data from IntoTheBlock, the Bitcoin hashrate reached an all-time high of 630.91 million TH/s or 630 EH/s on January 11, less than 24 hours after the U.S. Securities and Exchange Commission approved 11 Spot Bitcoin ETFs in the country. Bitcoin’s hash rate hit a new all-time high yesterday🔗https://t.co/bkdHCcEXFk pic.twitter.com/Mn3GxyDp6d — IntoTheBlock (@intotheblock) January 12, 2024 Bitcoin Hashrate Reaches Record Highs The hashrate measures the total combined computational power…
On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history. So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading. Although these inflows are yet to be reflected in BTC’s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin ETFs have certainly kicked off with a blast which is…
Bitcoin had a surprisingly underwhelming price performance over the past week despite the United States Securities and Exchange Commission (SEC) approving the trading of spot BTC ETFs. The price of the flagship cryptocurrency almost broke into $49,000 at the peak of this positive news but has since retraced back below $43,000. Ali Martinez, a popular crypto analyst on the X platform, has offered insight into the current market climate of Bitcoin, highlighting that the cryptocurrency’s price may face further downward pressure over the coming weeks. Analyst Forecasts 20% Price Drop For BTC In a recent post on X, the crypto…
In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000. Many analysts predicted a “sell-the-news” scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022. Ethereum ETF Speculation: Shaping Crypto Narratives This speculation is fueled by expectations of imminent Ethereum…
The price of Bitcoin has been on a massive bullish momentum since the approval and launch of Spot Bitcoin ETFs. However, a crypto analyst, Jason Pizzino, predicts a temporary halt in the growing trajectory, citing Bitcoin’s proximity to a crucial resistance point that could result in a significant price drop. Analyst Foresees Bitcoin Price Correction In a recent YouTube video published on Friday, January 12, Pizzino shared his insights into the current market conditions of Bitcoin, the world’s largest cryptocurrency. According to the analyst, the price of the top crypto is expected to drop by 20% to 22%, reaching possible…
In a dramatic turn of events, Bitcoin prices plummeted Friday, erasing almost 10% of its value and dashing hopes of a sustained rally fueled by the highly anticipated launch of spot Bitcoin ETFs. The cryptocurrency, which had surged to a two-year high of $49,000 just a day prior, retreated below $42,000 as investors digested the implications of the new financial instruments. Bitcoin’s Downturn: ETF Impact, Trust Sell-off, FTX Bankruptcy Analysts point to a confluence of factors behind the sudden downturn. Profit-taking by early adopters who cashed in on the ETF-induced surge is likely one major driver. With the news out…