Cryptocurrency

The price chart of displays a stark long wick dipping down, an uncommon sight that indicates a violent shift in price over a very short period. This wick represents a severe, rapid price drop followed by an equally swift recovery, which often leads to a significant number of traders being caught off guard, with their positions liquidated as the market rapidly moves against them.So, what led to this dramatic movement?First, a liquidity crunch can precipitate such a situation. In a market where many traders are positioned on the long side, a sudden drive to sell can trigger a cascade of liquidations due to a lack of immediate buy orders at current or slightly lower levels, causing the price to plummet until it hits a level where liquidity is available.Second, a long squeeze may occur when the market is heavily biased toward long positions. If the market begins to turn, those with leveraged long positions may be forced to sell to cover their positions, thus amplifying the downward price pressure.The unexpected nature of this wick caught thousands of traders by surprise, resulting in massive losses for those with leveraged positions. However, the aftermath of the wick saw a spike in buying power, indicating that many investors saw this as a buying opportunity, thereby pushing the price back to a relatively stable zone.Ethereum is known for its volatility, but a wick of this magnitude is a rare occurrence even for a cryptocurrency market. Investors might consider staying less leveraged in order to safeguard themselves from such dramatic swings.This article was originally published on U.Today More

Despite the gloom on the market, the latest post from top analyst Ali Martinez suggests that there is no reason to panic yet. This is because, to him, the price of BTC has found solid support between $37,150 and $38,360. At this level, a total of 1.52 million addresses bought 534,000 BTC and thus formed a solid wall that might shield the top coin.Should the bulls decide to chart another bullish path for Bitcoin, Martinez also shared two major resistance walls to beware of. These are the points at $43,850 and $46,400. These levels, Martinez believes, are poised to keep the BTC uptrend at bay.Investors in the U.S. are optimistic that the Securities and Exchange Commission (SEC) will soon greenlight this product after about 10 years since the first application was filed by the Winklevoss twins.With the next approval window coming in January, and investors are likely driving the price to a reasonable discount before a rush is experienced should the product eventually be approved by the regulator and trigger a .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

He assumes that the crypto market will see massive institutional inflows by the end of 2030 should a Bitcoin spot ETF be approved next year. While Raoul Pal is a major predictor of trends as concerns the market, he is optimistic that all forecasting beyond the year 2030 will “go out the window.”The digital currency ecosystem is evolving at a very fast pace, with intense volatility across the board. Riding on this, Raoul Pal said with this constant evolution, “it becomes near impossible to forecast economies, society, and markets beyond 2030.”He posits that should the current estimation of growth be achieved as projected, we might “hit the exponential on everything and everything changes forever in ways we can’t yet grasp.”Raoul Pal also maintains an optimistic view of Solana in particular, noting that he has been extremely bullish on the coin all year. One of the most ambitious projections from Raoul Pal is that Ethereum might eventually Bitcoin (BTC) in the long term.This article was originally published on U.Today More

Image by Users of free and paid packages of can read news articles, market analysis, product reviews and price forecasts created by the top staff writers, contributors and editors on U.Today. The crypto-centric portal is almost exclusively indexed by Investing.com in its red-hot “Cryptocurrencies” module.Covering the thriving ecosystem of digital assets, Investing.com launched specific newsfeeds on Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB) and other trending altcoins. An ICO calendar, currency converter and cryptocurrency brokers’ index are also available to all Investing.com users. Users can easily customize their newsfeed and start tracking cryptocurrency pairs and assets (BTC/USDT, ETH/USDT, SHIB/USDT, DOGE/USDT, ETH/BTC and so on). Cryptocurrency charts are powered by TradingView, a powerful and reliable trading data machine.With U.Today added to the range of indexed sources, traders can also know about the latest developments in the segment of AI cryptocurrencies, i.e., digital assets somehow associated with the progress of artificial intelligence, machine learning and big data.U.Today was added to the pool of Investing.com-indexed sources thanks to its unbiased and thoughtful content creation and fact-checking strategies. Thanks to the portal, users can track all recent developments in the blockchain and cryptocurrency spheres.The main domain of U.Today is one of the most popular cryptocurrency websites in 2023: its monthly number of unique visitors exceeds three million. The U.Today team provides 24/7 coverage of crypto trends: its contributors create news articles, interviews, opinion pieces, product reviews and daily news digests.This article was originally published on U.Today More

Image by As a result, visitors of SmartNews apps will be able to stay tuned to the latest developments and trends in the cryptocurrency segment. Besides education and entertainment, SmartNews audience members will be able to start trading and investing and make more data-driven decisions for their personal finances.As U.Today offers newbie-friendly guides together with other sorts of content, SmartNews readers will be able to figure out how to open a cryptocurrency wallet, how to buy crypto with fiat, how to deposit crypto to an exchange and how to withdraw it, how to invest in DeFi protocols and so on.Alongside cryptocurrencies, blockchain, decentralization and Web3, U.Today covers the hottest trends in artificial intelligence (AI), machine learning (ML), big data, large language models (LLM), neural networks and so on.Cory Ondrejka will curate the technical progress of SmartNews as CTO. He has a long history of creating groundbreaking and innovative products, including co-creating the pioneering virtual world “Second Life,” leading Meta (NASDAQ:META)’s mobile transformation and subsequent product growth and reinventing the Android experience with Material You at Google (NASDAQ:GOOGL).The platform indexes content from 14,000 trusted publishers from various continents. Also, its news feed is highly customizable. It allows users to only see stories they are really interested in to save time and effort:Also, to prevent its readers from being trapped in an “info bubble,” SmartNews application provides coverage from reputable sources across both sides of the political spectrum with a unique easy slider feature.The app is available in both and marketplaces.U.Today perfectly fits into this elite club of reputable digital media platforms. It publishes news articles, reviews, digests, price predictions, market overviews, how-tos, manuals and guides covering all things crypto.Since 2017, it has been at the forefront of IT and finance journalism, providing all of its readers with unbiased and hand-picked articles. It also was among the first news platforms to review ground-breaking products and protocols in crypto; some of them became mainstream after being mentioned on U.Today.This article was originally published on U.Today More

In response, Saifedean Ammous, author of The Bitcoin Standard, disagreed with Benjamin, stating that the dollar succeeds despite inflation, and Bitcoin’s popularity is due to its scarcity, making it a superior store of value.CTO David Schwartz contributed another perspective, questioning whether people understand that the anticipation of a declining dollar value incentivizes spending. Schwartz’s thesis suggests that the knowledge of a currency’s future depreciation may impact consumer behavior, encouraging spending as individuals seek to utilize their money before its value diminishes.This debate continued with followers expressing diverse opinions. Some argued against the necessity of inflation for economic prosperity, while others highlighted the psychological impact of knowing that the value of a currency diminishes over time, encouraging spending.The focus of the discussion centers on ‘s query about the impact of a depreciating dollar on spending behavior.As the cryptocurrency debate unfolds, different perspectives add complexity to the discussion, prompting further exploration of the psychological and economic factors influencing individuals’ choices in the realm of decentralized currencies.This article was originally published on U.Today More