Author: NBTC
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally. Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin from increased demand from institutional investors. Glassnode bases its analysis…
Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000. PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon. Enjoy Sub-$40,000 Bitcoin While It Lasts Bitcoin has outperformed other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this…
The price of Ethereum has been on a steady and monumental rise in the past few weeks, and the last seven days have not been much different. The altcoin breached the $2,100 mark on Friday, November 24, with its sights now set on new yearly highs. Interestingly, a recent on-chain revelation has shown what could be behind the latest ETH price surge while offering insights into the future prospects of the cryptocurrency. On-Chain Data Shows Whales Continue To Buy ETH Renowned crypto analyst Ali Martinez, in a post on X, revealed that Ethereum whales have been active in the crypto…
Pockets of Satoshi, a preferred pockets to be used with with Bitcoin’s Lightning Community, introduced the tip of U.S. help on Nov. 24. The corporate stated that it had determined to take away its app from the U.S. and Google app shops and cease serving American customers going ahead. The announcement solely broadly described the explanations for the change, stating: “This choice doesn’t come flippantly. Our dedication to offering a safe, user-friendly, and compliant platform globally is unwavering. Our high precedence is the security and pursuits of our prospects and our firm.” Pockets of Satoshi in any other case stated…
Ethereum (ETH) continues to absorb Bitcoin (BTC) selling pressure in November, looking at price action when writing on November 24. In the daily chart, ETH bulls have the upper hand, adding roughly 9% versus BTC from October lows. Ethereum Outperforms Bitcoin In November ETH buyers are firm, with price action still confined inside the conspicuous bullish engulfing bar of November 9. Despite bears forcing prices lower in the second week of November, the failure of BTC bulls to reverse all losses suggests that ETH buyers are still in command. If anything, prices may rise in the days ahead, reversing losses…
Blockchain analytics platform Token Terminal has provided insight into the future trajectory of the second largest cryptocurrency by market cap, Ethereum (ETH). Interestingly, they predict that the crypto token could rise as high as $36,800. When Ethereum Will Hit $36,800 In the research paper released by the platform, Ethereum is billed to hit the $36,800 mark by 2030. However, this prediction is made in the best-case scenario of 2030 being a bull market season. One of the ways in which they analyzed ETH’s future value was with the total Addressable Market analysis. They looked at the industries already adopting blockchains…
Ethereum has cleared the $2,100 level during the past day, and if on-chain data is anything to go by, a rally to new yearly highs should be “easy.” Ethereum Has No Major On-Chain Resistance At Higher Levels An analyst in a post on X explained that Ethereum has overcome a major on-chain resistance zone with its recent price rally. The on-chain resistance and support levels are defined based on the density of investors who bought at them. The reason behind this lies in how investor psychology tends to work. For any investor, their cost basis is an important level, so…
As digital actuality innovators envision it, our future may more and more intertwine with the metaverse. A futuristic integration of the digital and bodily worlds, the metaverse gives a brand new platform for social interplay, commerce, and leisure. This house opens huge potentialities, and automotive giants like Porsche are exploring this digital frontier, contemplating how one can merge their famend designs with this digital universe. Nvidia’s Omniverse: A Catalyst Innovation The shift in direction of digital automotive improvement is gaining momentum, led by U.S. chipmaker Nvidia with its ‘Omniverse‘ platform. This know-how is ready to revolutionize the business by creating…
Bitcoin Halving is one of the most pivotal events when block rewards for mining are reduced in half. The event takes place every four years, which started in 2012, and the last event took place in 2020 when block rewards were reduced to 6.25 for every block successfully made. The next Bitcoin Halving event is expected to take place in April 2024, with block rewards further reducing to 3.125. In this article, we will explore the Bitcoin Halving events, present a historical analysis, and the potential price trajectories and the impacts of the halving event on the Bitcoin market. Understanding…
In a new analysis, JPMorgan has raised concerns about the potential outflow of funds following the possible conversion of Grayscale Bitcoin Trust (GBTC) into an ETF. The banking giant estimates that the conversion could prompt investors to withdraw at least $2.7 billion. The Grayscale Bitcoin Trust, a pivotal force in the previous bull market, has seen its discount to Bitcoin’s current market price shrink from -46% at the beginning of the year to -9.77% by November 22, the lowest level since mid-August 2021. Notably, this reduction in discount is important because it indicates that investors are expecting the US Securities and…