Cryptocurrency

In recent days, XRP’s price action has been characterized by its struggle to overcome a series of local resistance levels. A notable rejection was faced around the $0.63 mark, which has added to the narrative of an asset under pressure. Despite these rejections, the asset’s ability to stay afloat above the 200-day EMA suggests underlying strength and potential for growth.XRP/USDT Chart by TradingViewThe market’s oppressiveness toward XRP can be attributed to various factors, including lack of usecase for XRP and a poor performance throughout the 2023. However, the past has shown that XRP can swiftly shift from oppressed states to strong bullish rallies, often catching many off-guard.For a scenario where XRP’s growth continues, it is essential for the token to maintain its stand above the 200-day EMA. If this level holds, it can serve as a springboard for future bullish attempts. A decisive close above this moving average could stimulate investor confidence, potentially leading to a challenge of the recent resistance at $0.63. A break and hold above this level could signal a trend reversal and may pave the way for XRP to target higher resistances, possibly around the $0.70 to $0.75 regions.After dipping to a support level around $88 on December 20, 2023, Solana has rebounded, forming a higher low near the $90 mark. This movement suggests accumulating strength and a possible change in direction from the previous downward trend. The local trendline resistance, which Solana is currently testing, is evident at approximately $97.50. Two pivotal price levels stand out on Solana’s chart. The first resistance level after the trendline sits near the $100 psychological mark. This round number has historically been a challenging point for Solana to breach decisively. Beyond that, the $104 level looms as the next significant barrier, which was a previous local high around January 3, 2024.Conversely, on the support side, the level to watch is around $88, as mentioned earlier. This price has proven to be a firm foundation, with buyers stepping in to uphold Solana’s valuation. A secondary support level is present near $85, just below the 50-day moving average, acting as a safety net for any potential retracements.The rapid growth witnessed in the past few days has been nothing short of impressive. Ethereum, which lingered around the $2,400 mark in the early days of February, has seen a significant influx of buying pressure, leading to a breakthrough past key resistance levels. This positive price action posits two potential scenarios for the smart contract giant.In one scenario, Ethereum could continue its aggressive push, riding the wave of current market optimism towards the $3,000 target. If this momentum is maintained, and with the additional fuel from the recent high volume of trades, ETH could test $3,000 in the coming days. A consolidation above $2,600 would be crucial for this scenario to unfold, as it would establish a new support level, reinforcing investor confidence.Alternatively, given the volatile nature of the crypto markets, a retracement could occur before Ethereum reaches $3,000. This would likely see the asset retesting support at the $2,500 level, which if held, could serve as a springboard for a second wave towards and beyond $3,000.This article was originally published on U.Today More

At the same time, he took a dig at the second-largest cryptocurrency by market cap, Ethereum.MicroStrategy has been adding large BTC chunks to its balance sheet regularly since August of 2020, and Tether holds Bitcoin among the assets that back the USDT supply issued by it. Michael Saylor’s business intelligence giant now holds an astonishing $8.7 billion worth of Bitcoin, and this, surprisingly, exceeds the company’s market capitalization by $1 billion.Earlier this week, by the way, Michael Saylor called on the cryptocurrency community not to sell their Bitcoin, despite the continuous BTC price plunge that is taking place despite spot ETF approval by the SEC regulatory agency.As for Tether, last quarter, it acquired another Bitcoin stash amounting to $380 million worth of Bitcoin. At the time of this writing, Tether holds 66,465 BTC.Mow stressed the importance of the global flagship cryptocurrency Bitcoin as opposed to the second largest one by market capitalization value – Ethereum.card Mow has recently been tweeting about his expectations for Bitcoin to reach $1 million. Elaborating on that forecast in one of his tweets, the Bitcoiner explained that this prediction should not be expected to be fulfilled instantly, like after the spot Bitcoin ETF was greenlit. What he meant was that the overall market fundamentals for Bitcoin have changed compared to how they stood before.In a tweet published earlier today, Mow stated that the Bitcoin price does not depend on the ETF approval, and it rises of its own accord and at its own pace.This article was originally published on U.Today More

This article was originally published on U.Today More

This article was originally published on U.Today More

This article was originally published on U.Today More

Halving slashes in half the coins Bitcoin miners receive as rewards.According to the Glassnode estimate, the Bitcoin halving might occur on April 23, 2024, although this might vary.The expected date for Bitcoin halving is April 22, 2024, according to OKLINK, which gives a countdown of about 80 days. There are presently 11,603 blocks left for this event. Bitcoin mining rewards will be slashed from 6.25 BTC to 3.125 BTC.Significant bull runs have followed Bitcoin-halving events, as seen in 2012, 2016 and 2020. In line with this, expectations are on the rise for the next Bitcoin halving.The first is post-halving corrections. According to Ali, after the 2016 and 2020 halvings, Bitcoin experienced corrections of 30% and 7% within a month. In this scenario, Bitcoin reacts negatively to the halving event.Second is the scenario of significant post-halving rallies. Ali observed that following the 2012, 2016 and 2020 halvings, BTC surged by 11,000%, 2,850% and 700%. In this most-anticipated scenario, Bitcoin reacts to the halving event positively, triggering a bull run.Third, Ali pointed out the pattern of bull market durations: the bull markets after each halving lasted 365 days, 518 days and 549 days, respectively.Fourth, the next market top: If the upcoming bull market follows historical trends, the next Bitcoin market top could be anticipated around April or October 2025, according to Ali.This article was originally published on U.Today More

According to Samson Mow, Bitcoin is becoming the world’s new reserve asset; as such, “there must be a higher standard for any proposed changes. Value to the protocol must be first demonstrated with functioning prototypes bearing commercial use.”The design of Bitcoin and the disappearance of Satoshi Nakamoto made it quite difficult for BTC to operate like most blockchain networks with a central leader to look up to. The Bitcoin network has a host of developers all working independently to bring changes to the network. In Samson Mow’s opinion, proposals need to be more thoughtful and useful for the general public to make a significant impact.In follow-up posts, Samson Mow highlighted how many people dismiss any second-order impacts of new changes to the protocol overall. With Bitcoin gaining the right visibility and traction, Samson Mow’s assertions hinge on more stability overall.Samson Mow now remains a major proponent of the Bitcoin legacy, but he is not alone in this regard as core developer Luke Dashjr revealed last year that the now popularized BRC-20 Inscriptions are detrimental to the original designs of the network and need to be eradicated.With the newly approved and launched spot BTC ETF products in the United States, a new era has begun, and all efforts are being directed toward making the protocol the star of the crypto world.This article was originally published on U.Today More

In a recent revelation, Kiyosaki asserted that Bitcoin serves as a crucial defense mechanism against the systematic theft of wealth orchestrated by entities like the Federal Reserve, Treasury and Wall Street bankers. The author contends that these institutions exploit the value of traditional currency through inflation, taxation and manipulation of stock prices.Hence, Kiyosaki has chosen to eschew conventional investment vehicles such as stocks, bonds and fiat currency in favor of the decentralized and inflation-resistant qualities of Bitcoin.While Kiyosaki had previously expressed reservations about Bitcoin’s intrinsic value, he now places it alongside gold and silver as indispensable financial tools. Despite acknowledging the cryptocurrency’s volatility, he envisions Bitcoin as not merely a speculative venture but as a genuine store of value.The financial guru’s endorsement of BTC underscores a paradigm shift in his investment strategy, highlighting the growing prominence of cryptocurrencies as a formidable asset class.This article was originally published on U.Today More