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    $23,000 Bitcoin (BTC) Prediction Changed by Analyst Benjamin Cowen

    Cowen, who is generally bullish on Bitcoin, had predicted a significant drop in the cryptocurrency’s value. However, the lack of volatility and liquidity in the market seems to have worked in Bitcoin’s favor. There simply wasn’t enough downward pressure to drive the price to the $23,000 level as Cowen had anticipated.Source: According to real-time data, is currently trading at $27,123.42 against the U.S. dollar. This price level not only contradicts Cowen’s prediction but also suggests a more stable outlook for the digital asset.The market’s lack of volatility and liquidity, often seen as negative factors, have ironically acted as stabilizing forces in this instance. These conditions have prevented any drastic downward movements, allowing Bitcoin to maintain its value.Cowen’s incorrect prediction serves as a reminder that even seasoned analysts can get it wrong, especially in a market as unpredictable as cryptocurrency. While technical analysis provides valuable insights, unforeseen market conditions can always tip the scales.The change in Cowen’s stance could influence sentiment, potentially leading to more bullish behavior in the market. As Bitcoin continues to defy bearish predictions, it solidifies its reputation as “digital gold,” a resilient asset that can hold its value even in uncertain times.As we move into October, it will be interesting to see if Bitcoin can maintain its current stability or if it will experience the volatility that so many have come to expect from the crypto market.This article was originally published on U.Today More

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    FTX exploiter moved over $17M in ETH in the last 24 hours

    A significant portion of the 7,749 ETH, worth roughly $13 million, was directed toward the THORChain router and Railgun contract. Furthermore, the exploiter engaged in a swap involving 2,500 ETH, worth around $4.19 million, converting it into 153.4 tBTC at an average price of $27,281 per token.Continue Reading on Coin Telegraph More

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    Is Cardano (ADA) Aiming at Fundamental Trend Change?

    One of the most significant technical indicators pointing toward this change is the breakthrough of a descending triangle in the upward direction. This pattern is generally considered a bullish sign, suggesting that the asset could be entering a new phase of upward momentum. Since this breakthrough, Cardano has been accelerating, further reinforcing the idea that a bullish trend could be on the horizon.Source: The possibility of a longer-term trend reversal is also being speculated upon. If continues to sustain its current momentum, it could very well signal a fundamental change in its market behavior, moving from a bearish or sideways trend to a bullish one. However, it is crucial to note that while technical indicators are promising, they are not foolproof, and other market factors could influence Cardano’s trajectory.However, the journey ahead is not without challenges. Shiba Inu is approaching the 21 exponential moving average (EMA) resistance level. This is a crucial point for the asset, as the 21 EMA often acts as a barrier that could potentially push the price lower. If manages to break through this resistance, it could pave the way for further gains. On the flip side, failing to do so could result in a price correction.While the uptrend appears promising, it is essential to note the lack of liquidity and trading volume, which hints at a hollow rally. A rally without substantial volume is often considered less sustainable and could be more susceptible to market manipulation or sudden price drops. Therefore, investors should exercise caution and keep an eye on trading volumes to gauge the rally’s strength.Despite these challenges, Shiba Inu’s performance has been commendable, especially when considering the volatility often associated with meme coins. Its ability to hold onto gains and follow an upward trendline gives investors a glimmer of hope, but it is crucial to approach this asset with a balanced perspective.The asset has recently moved past the 50 exponential moving average (EMA), a commonly used technical indicator that helps traders identify market trends. Crossing above the 50 EMA is generally considered a bullish sign, indicating that the asset might continue its upward trajectory.However, it is essential to consider the volume and volatility accompanying this breakthrough. The current conditions suggest that Ethereum’s recent gains might not be as secure as they appear. The relatively low trading volume and market volatility indicate that we could see a reversal quite soon.Why is this important? The 50 EMA serves as a critical resistance level that assets need to break through to maintain a bullish trend. If Ethereum fails to secure its position above this level, it could signal a trend reversal, leading to potential losses for traders who are long on the asset.The current price of Ethereum stands at $1,671.96, which is a significant leap from its previous levels. However, traders should exercise caution. While the asset has shown strong bullish tendencies, the lack of substantial trading volume and market volatility could make this rally short-lived.This article was originally published on U.Today More

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    Shiba Inu (SHIB) Negatively Correlates With Bitcoin (BTC), What This Implies

    The 30-day correlation coefficient between Shiba Inu and Bitcoin has slipped to new lows of -0.24, according to data from on-chain analytics firm . Shiba Inu, however, continues to maintain a positive correlation with other crypto assets such as Ethereum and Dogecoin, save for Chainlink.Correlations range on a scale of -1 to +1. Lower prices for one are connected with higher prices for the other if the values are skewed negatively.That said, a negative correlation is a relationship between assets that move in opposite directions. If the correlation value is less than zero, one can confidently conclude that the two assets are moving in opposite directions. As a result, appear to be moving in opposite directions.This is as Shiba Inu charts a new course, focusing on utility as its fundamental value in its push to relinquish the status of a meme coin.At press time, the prices of Bitcoin and Shiba Inu had remained relatively steady in the previous 24 hours. Bitcoin is currently up 4.12% in September, while Shiba Inu is down 8.14% for the month.Despite SHIB’s lackluster performance in the prior months, October looks promising based on historical precedents.On average, SHIB has notched a 420% gain in October. For instance, Shiba Inu reached an all-time high of $0.000088 in October 2021.However, given the volatility of the crypto market and the fact that past performance does not guarantee future results, the price direction of Shiba Inu in October remains an open question.This article was originally published on U.Today More

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    Brazil rolls out blockchain-based digital ID

    Rio de Janeiro, Goiás, and Paraná will be the first states to issue identification documents on-chain through a private blockchain developed by Serpro, Brazil’s national data processing service. The entire country should be able to issue identity documents through blockchain technology by November 6, reads a decree on Sept. 25.Continue Reading on Coin Telegraph More

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    Ether futures ETFs launching, SBF trial to begin and 3AC’s Su Zhu arrested: Hodler’s Digest, Sept. 24-30

    Former FTX CEO Sam SBF Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, according to a newly released trial calendar posted to the public court docket. The first official date of the Bankman-Fried trial is Oct. 4, where the participants will begin discussing seven fraud charges laid against SBF. There are two substantive charges where the prosecution must convince a jury that Bankman-Fried committed the crime. Five other conspiracy charges involve the prosecution convincing a jury that Bankman-Fried planned to commit the crimes. The former FTX CEO has been serving pre-trial detention at the Brooklyn Metropolitan Detention Center since Aug. 11. If considered guilty of fraud, Bankman-Fried is likely to spend the rest of his life in prison, legal specialists explained to Cointelegraph.Continue Reading on Coin Telegraph More