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Tag: crypto analyst

  • Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally

    Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally

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    Shiba Inu has gone on various price spikes in the past few months amidst a surge in activity and interest in the meme coin. This price movement has prompted traders and analysts to ponder on when SHIB can reach the much coveted $0.0001 mark, a price level which it has largely failed to reach despite the impressive price action. 

    Micheal_EWPro, a crypto analyst, posted an analysis on when SHIB could potentially reach the $0.0001 price level. According to him, the current dynamics could push SHIB above $0.0001 in June. Interestingly, his price prediction is based on the Elliott Wave Theory.

    Analyst Reveals SHIB Is Going To $0.0001

    According to the SHIB chart shared by Michael on the 3-day candlestick formation, the meme coin’s price formation since 2022 has largely followed the Elliott Wave count. The Elliot Wave Theory is basically a technical analysis method that analyses price movement traditionally in terms of a 5-wave move in the direction of the larger trend and a 3-wave correction in the opposite trend.

    Each of these Elliott Wave can be further subdivided into various patterns of smaller degree impulses based on their formations. However, all the subdivisions add up to one larger wave impulse.

    Using this knowledge of Elliot Wave Theory, the analyst noted that SHIB has started the formation of the third of five larger degree waves since October 2023 albeit with smaller degree impulses which he labelled as i, ii, iii, iv, and v. Traditionally, the third Elliot Wave is usually the largest and most powerful wave in a trend where most of the price action takes place. As a result, his analysis points to the third wave ending at a price just above $0.0001 in the first week of June.

    The analyst did implore a take-profit at $0.00008854 and a final price target of $0.00010191, while also noting that the bulls still have some work to do before this price point can come to a reality. 

    What’s Next For Shiba Inu?

    Shiba Inu has reversed since reaching $0.00004456 and has majorly traded between $0.000030 and $0.0000275 since the beginning of the week. However, analysts and SHIB enthusiasts remain positive, especially with SHIB securing a listing on an Australian-based crypto exchange.

    This positive sentiment recently pushed SHIB to second place in crypto searches. At the same time, Shiba Inu’s layer-2 platform, Shibarium, has seen its TVL surging to a new high of $3.9 million.

    At the time of writing, SHIB is trading at $0.00003097, up by 14% in the past seven days. 

    SHIB price at $0.000031 | Source: SHIBUSDT on Tradingview.com

    Featured image from TronWeekly, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Says Bitcoin Is Heavily Undervalued Despite ATH, What’s The Fair Value?

    Crypto Analyst Says Bitcoin Is Heavily Undervalued Despite ATH, What’s The Fair Value?

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    Despite Bitcoin recently hitting a new all-time high (ATH) of over $70,000, crypto analyst Michaël van de Poppe believes that there is still more room for significant moves to the upside. Interestingly, he also expects that this bull cycle will be one like no other.

    Bitcoin Still Heavily Undervalued

    Michaël van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin was still “heavily undervalued” despite hitting a new ATH. He added that the value is “way higher” and noted how the flagship crypto can help hedge against inflation and keep one’s purchasing power alive. Meanwhile, the crypto analyst believes there will be “way higher numbers” in this cycle.

    Michaël van de Poppe had previously hinted at Bitcoin rising to as high as $150,000 in this bull run. Other analysts have also given similar price predictions, with the consensus that BTC will surely rise above $100,000. Other crypto analysts, including MacronautBTC, have even gone as far as predicting that Bitcoin could rise above $200,000. 

    There is a growing belief that this bull cycle will be the mother of all past cycles, which could be the reason for such ambitious predictions. Moreover, this cycle has the Spot Bitcoin ETFs, something past bull runs didn’t have. These ETFs have ushered in more institutional demand for the flagship crypto, which has led to an overall increase in the demand for Bitcoin. 

    Interestingly, NewsBTC previously reported that the demand for Bitcoin is significantly exceeding Miners’ supply. This development is coming at a time when miners’ rewards are set to be cut in half during the Bitcoin Halving. This would likely lead to more imbalance between the demand and supply curve, potentially leading to an exponential surge in Bitcoin’s price. 

    BTC Still Has Enough Time To Hit New Highs 

    Bitcoin hitting a new ATH of $70,000 is just the beginning of this bull run, as there is reason to believe this bullish momentum could run into next year. Crypto analyst Ali Martinez noted in an X post that Bitcoin has “consistently taken about 8 to 11 months to hit a market top” whenever it has shattered its previous ATH.   

    With Bitcoin currently hitting new highs, the analyst added that historical patterns suggest that the next BTC market top “will be sometime between November 2024 and February 2025.” However,  Alex Thorn, Head of Research at Galaxy Digital, has warned that “bull markets are not straight lines up” and that sharp corrections should be expected along the way. 

    At the time of writing, Bitcoin is trading at around $68,300, up over 2% in the last 24 hours according to data from CoinMarketCap. 

    BTC price drops $68,400 | Source: BTCUSD on Tradingview.com

    Featured image from CNBC, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39

    Crypto Analyst Reveals Why Most Realistic XRP Price Lies Between $13 And $39

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    The future of the XRP price has been a hot topic of contention among crypto analysts for a while now. Most of these analyses focus on the possible movements of the price as the bull market unfolds, as well as possible price targets. In the same vein, crypto analyst CryptoBull has presented their own bull case for the altcoin, giving the most realistic price targets.

    Long Time Price Channel Shows Realistic Price

    In the analyst CryptoBull posted on X (formerly Twitter), he shows the historical price movement of the altcoin going as far back as 2014. The analyst uses this to deduce the possible trajectory of the XRP price in the coming months using the XRP price channel.

    According to CryptoBull, using this data, the most realistic price for the altcoin currently sits somewhere between $13 and $39. ”The long-term price channel shows the most realistic #XRP price between $13 and $39 in the coming months!” CryptoBull stated.

    While the lower end of this channel of $13 was more realistic, the upper end of $39 has drawn criticism from the community. In response to CryptoBull’s prediction, another X user, Ben McClymans, said it was “crazy talk.” This is because for XRP’s price to reach $39 per coin, then its market cap would have to be larger than that of Ethereum, which is currently the second-largest cryptocurrency in the market.

    However, other community members jumped to the defense of XRP, reminding Ben that the market cap of XRP had actually flipped Ethereum before. Given this, they believe that it is possible that it will end up flipping to Ethereum once again.

    XRP Price Performance Worries Investors

    The XRP price performance over the last few years has worried investors because while other altcoins were hitting new all-time highs, XRP continued to struggle. However, this is understandable given that the United States Securities and Exchange Commission (SEC) sued Ripple in 2020, which adversely affected XRP’s performance.

    The XRP price had crashed off the back of the announcement alone and did not recover as well as expected. There is a light at the end of the tunnel, though, as the lawsuit with the SEC seems to be coming to an end. The court looks to be leaning toward a settlement, which would put an end to the case once and for all.

    To get an idea of what could happen with the XRP price when the lawsuit is over, we can take a look at what happened when Ripple secured a partial victory over the SEC in 2023. After Judge Analisa Torres declared that XRP programmatic sales did not qualify as securities, XRP jumped more than 60% in a single day.

    The lawsuit is currently the biggest hindrance to the XRP price performance, and expectations are that the price will surge once it’s over. If it does so, then CryptoBull’s prediction could end up playing out.

    XRP trending at $0.58 | Source: XRPUSD on Tradingview.com

    Featured image from Bitcoinist, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Says Bitcoin At $100,000 Not Far Off, Here’s When

    Crypto Analyst Says Bitcoin At $100,000 Not Far Off, Here’s When

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    Kevin Svenson, a crypto analyst on YouTube, recently provided an analysis of the future price trajectory of Bitcoin, predicting a strong surge to $100,000 this year. According to the analyst, BTC is poised to go parabolic after its halving in April as the crypto is looking very bullish on the weekly chart.

    The halving cuts the block reward for Bitcoin miners in half, reducing the supply of new Bitcoins in circulation. With demand remaining steady or increasing, the reduced supply has been historically known to drive up the price of BTC.

    Bitcoin Parabolic Surge Not Far Off

    Bitcoin is currently leading a crypto market surge after four weeks of lackluster action following the launch of spot Bitcoin ETFs in the US. Bitcoin recently broke above $47,000 for the first time this year, pushing the narrative of the return of a strong crypto market bull run.

    Svenson noted in his YouTube video that Bitcoin is yet to close above $44,000 on the weekly timeframe this year. However, recent price action indicates this is about to change, giving the highest weekly close so far in the current cycle. The analyst noted that if Bitcoin were to successfully clear trapped liquidity around the wicks, it could lead to the crypto reaching the first step of the $60,000 price level.

    On a larger timeline, Svenson looked at past Bitcoin halvings to note a recurring trend before and after each halving. History shows that the price of BTC has always trended up in the months leading to the halving and then going on a parabolic trend in the months after. 

    Of course, past performance does not necessarily guarantee future price action, but Svenson believes several factors are lining up that could send Bitcoin surging past its all-time high once again.

    “There’s no reason for me to not think that we’re just going to do what we’ve been doing in these past cycles,” he said.

    Now, looking forward, the analyst noted past halvings were set up by Satoshi to correlate with election years in the US, which have always led to a spike in the financial markets. 

    In addition, Svenson mentioned that the profitability of Bitcoin has always increased until 80 weeks following each halving, which marks the beginning of a new bear market. If history repeats itself, an 80-week timeline after the upcoming halving should be around October 2025, which is when a new bear market cycle is expected to begin.

    Institutional interest in Bitcoin is surging, contributing to a 9.57% surge in the past seven days. Bitcoin is trading at $47,211 at the time of writing. 

    BTC price recovers after brief dip | Source: BTCUSD on Tradingview.com

    Featured image from Dall.E, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Scott Matherson

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  • Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here’s The Next Target

    Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here’s The Next Target

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    The Chainlink (LINK) price has been on an impressive rally over the last week that has brought its price to new yearly highs. As LINK bulls continue to hold firmly above the $18 support, the emergence of this bullish rally has continued to signal that the price surge is far from over.

    Crypto Analyst Says Chainlink Bullish Flag Has Been Broken

    In an analysis posted on the TradingView website, crypto analyst CobraVanguard explains why the Chainlink price is currently very bullish. According to the analyst, despite the altcoin showing very bullish signs, a lot of traders are failing to realize that this is the case.

    They identified a flag pole that was created in the chart, and in this case, the flag for the LINK price was actually bullish. Even more interesting is the fact that the analyst revealed that the Chainlink price had successfully broken this flag, which they say is bullish for the price.

    Source: Tradingview.com

    “LINKUSDT is in a Bullish flag Patter,” the analyst said. “We can expect a bullish movement as much as the Measured Price movement (flag pole) to happen!” This further solidifies LINK’s entrance into its most bullish phase so far in 2024.

    Another major factor that the analyst identifies for the LINK price at this level is that the price was testing the major supply zone at $18. At the time, the LINK price had not cleared this level. But at the time of writing, LINk has broken clean off this major supply zone and is now trending toward $19. “The Flag Is Broken,” the crypto analyst declared.

    What Are The Targets For The LINK Price?

    In the chart shared in the analysis, the crypto analyst identifies two major points of interest in the Chainlink chart and these are the Supply Zone and the Target Price. The first, which is the Supply Zone, is at $18.3, and the LINK price has already broken above this level.

    Given this, the next major point of interest is the Target Price, and CobraVanguard puts this at the $27 price level. However, there is no straight shot toward this level as the analyst’s chart also shows a correction below the $13 support before rallying onto its target.

    If this analysis holds over the coming days/weeks, then the LINK price could see a sharp 20% correction as the first sign. Then from there, a complete 100% move upward to bring the price to the $27 price target.

    At the time of writing, LINK bulls continue to show dominance after a sharp 7% move in the last day. On the broader chart, the LINK price is up 27% in the last week, bringing its market cap to $10.9 billion.

    LINK price chart from Tradingview.com (LINK Crypto analyst)

    LINK bulls push price above $19 | Source: LINKUSDT on Tradingview.com

    Featured image from Changelly, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Bitcoin To $5 Million? S2F Model Predicts When This Will Happen

    Bitcoin To $5 Million? S2F Model Predicts When This Will Happen

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    Using historical and future Bitcoin halving events, the Bitcoin Stock to Flow (S2F) live data chart model has pointed toward a BTC surge to unprecedented highs during the 2028 to 2032 halvings. 

    Bitcoin To Hit $5 Million After 2028 Halving

    Crypto analyst Bit Harington recently shared insights in a post on X (formerly Twitter) about the potential surges in the price of Bitcoin during the next halving stages. Using data from the Bitcoin S2F chart, Harington predicted the price of Bitcoin would reach $500,000 by the fourth halving, which is taking place in April. 

    His predictions were based on the distinctive trend observed in BTC’s price, where the first to third halving phases exhibited a consistent 10x price increase for each successive halving. 

    Responding to the post, the creator of the S2F model, Plan B, made a bold prediction, suggesting that the average price of Bitcoin during the 2028 and 2032 halving events could potentially reach an impressive $5 million. 

    The cryptocurrency has consistently experienced bullish rallies following each halving event, from the first Bitcoin halving in November 2012 to the third in May 2020. Due to this, many investors and crypto analysts foresee a similar surge in BTC’s price during 2024 halving. 

    These expectations could be attributed to the events that typically occur during a Bitcoin halving event. In each halving phase, BTC mining rewards are cut in half, and the supply of the token is reduced, thereby inducing scarcity and increasing the token’s value. 

    While these price projections about Bitcoin are made to keep investors alert, it’s important to note that they remain speculations, and models like S2F can be subject to wide margins of error. 

    BTC price struggles to hold $42,000 | Source: BTCUSD on Tradingview.com

    Analyst Reveals Key Factors To Consider In 2024 Halving

    Another crypto analyst, Ali Martinez, has disclosed four crucial factors to keep in mind as the 2024 April Bitcoin halving approaches. Martinez highlighted the significance of the post-halving price corrections in the 2016 and 2020 Bitcoin halving, emphasizing that BTC declined by 30% to 70% within a month after the halving phases. 

    He also mentioned BTC’s post-halving rallies, where the cryptocurrency experienced significant surges to 700%, 2,850%, and 11,000%, respectively, during the 2012, 2016, and 2020 halving events. The crypto analyst delved into bull market durations after each halving, which lasted about a year or more.

    He concluded his analysis by predicting that the next Bitcoin market top would occur around April or October 2025. At the time of writing, the price of BTC was $42,110, according to CoinMarketCap. 

    Featured image from Dall.E, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Best Owie

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  • Crypto Analyst Predicts Shiba Inu Price To Surge Above $0.00001

    Crypto Analyst Predicts Shiba Inu Price To Surge Above $0.00001

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    After months of experiencing slow growth, the Shiba Inu native token SHIB has begun riding the bull market wave and surging with new gains. As a result, a crypto analyst has predicted new highs for the doggy-themed cryptocurrency, estimating the price of SHIB to reach $0.00001.

    Analyst Foresees Bullish Trajectory For Shiba Inu

    Crypto analyst and investor SHIB Knight took to X (formerly Twitter) on Monday to discuss SHIB’s recent price movements. Lately, the doggy-themed token has been witnessing significant price increases, pushing it closer to the coveted $0.00001 price mark. 

    According to CoinMarketCap, SHIB has recorded about 1.32% in gains over the last seven days and is trading at a price of $0.000009 at the time of writing. 

    Martinez shared a chart illustrating SHIB/Tether’s price movements. He disclosed that the price of SHIB was experiencing a technical breakout on a two-hour chart from the downtrend that has been plaguing the cryptocurrency market. This suggests that the Shiba Inu token may be on its way to a price recovery after experiencing significant declines despite its flourishing ecosystem and community.

    Subsequently, SHIB Knight shared another chart showing SHIB’s price movement with an arrow pointing toward a surge to $0.000014. The crypto analyst predicted that SHIB could pump at any time, suggesting that investors should stay alert and keep watch of the cryptocurrency’s present bullish outlook. 

    SHIB price at $0.00000899 | Source: SHIBUSD on Tradingview.com

    Analyst Predicts SHIB To Surge To $0.01

    As the crypto market gradually exits bearish trends that have been causing the declines of many altcoins, SHIB has positioned itself at the forefront of the potential market recovery, preparing for the anticipated 2024 bull run. 

    Crypto analyst Ali Martinez disclosed in an X post that SHIB is gearing up for a significant upswing that could push it to unprecedented highs. Martinez shared a chart initially published on TradingView, illustrating the price trends and movements of SHIB from November 2023 to February 2024. 

    The chart revealed red and green zones in Shiba Inu’s token price trend. Relying on his analysis of these price movements, Martinez predicted that the value of SHIB could climb as high as $0.010 or potentially surpass that price mark to $0.011. The occurrence of this event could signify a potential breakthrough for the cryptocurrency as SHIB has only been able to achieve an all-time high of $0.0009 since its inception. 

    Featured image from Dall.E, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • XRP Price Will See 1,000% Rally When ‘Black Cloud’ Dissolves, What This Means

    XRP Price Will See 1,000% Rally When ‘Black Cloud’ Dissolves, What This Means

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    The host of the ‘Discover Crypto’ YouTube channel has boldly claimed that the XRP price could surge by 1000% from its current price range. He highlighted the Securities and Exchange Commission’s (SEC) case against Ripple as one of the factors that could spark this price surge. 

    XRP Price Could Do A 10X When Ripple And SEC Settle

    In a video posted on the YouTube channel, the analyst suggested that XRP would rise significantly once Ripple and the SEC finally settled. He described this long-running legal battle between both parties as a  “black cloud” that has continued to cause uncertainty in the XRP market.

    He further noted how investors strongly dislike uncertainty, which could explain why they have continued to trade with caution rather than doubling down on their XRP investments. Meanwhile, the ‘Discover Crypto’ host believes that irrespective of how much Ripple ends up being fined, a settlement will no doubt be ‘positive news’ and the trigger for the price surge. 

    The crypto analyst went on to break down four other reasons why he believes that XRP’s price could surge by 1000%. First, he stated that a Ripple Initial Public Offering (IPO) could also trigger a significant rally for XRP. This price pump, he claims, will be facilitated by market makers and whales who would want to create a positive sentiment around the IPO launch.

    To back up this point, he alleged that the biggest move for Bitcoin in 2021 wasn’t as a result of Bitcoin Halving or any market cycle but because of the Coinbase IPO. These same market makers are said to have pumped the flagship crypto’s price then. 

    Token price at $0.53 | Source: XRPUSD on Tradingview.com

    Other Factors That Could Spark XRP’s Parabolic Move

    The crypto analyst outlined crypto legislation as the third reason why XRP could rise exponentially from its current price levels. While admitting that the entire crypto market will benefit from this, he expects XRP to be one of the tokens that enjoy the most gains from this development. 

    Institutional adoption is also predicted to be another catalyst in XRP’s parabolic move. The ‘Discover Crypto’ host noted how the Spot Bitcoin ETFs have opened the doors to mainstream adoption. As such, he expects that more entities will want to add crypto tokens like XRP to their portfolio alongside their Bitcoin exposure.

    The fifth factor that could spark the 1000% rally for XRP is the Bitcoin Halving. The crypto analyst predicts that all crypto tokens, including XRP, are going to pump post-halving. As such, he believes that buying XRP at $0.50 now is definitely a steal. 

    Featured image from Crypto News, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Explains How XRP Could See Massive 4500% Jump To $27

    Crypto Analyst Explains How XRP Could See Massive 4500% Jump To $27

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    Crypto analyst Egrag Crypto has once again reiterated his prediction that XRP will hit $27 soon. This time, he provided an analysis of how that will happen using XRP’s moving average as a point of reference. 

    How Price Will Rise To $27

    Egrag suggested in an X (formerly Twitter) post that XRP could rise to $27 while analyzing the 21 Exponential Moving Average (EMA) on the monthly time frame. The analyst assessed price percentages that occur when XRP’s price is positioned either above or on the 21 EMA. Using this, he then predicted that the altcoin hitting $27 was on the cards. 

    From the accompanying chart that the crypto analyst shared, one could see that he was simply hinting at XRP replicating past percentage moves. Back in 2017, XRP had risen by over 4500%. In 2018, it rose by another 1000% and saw a 500% increase in 2021 after years of consolidation. 

    Source: X

    This isn’t the first time that Egrag is predicting that XRP will rise to $27. As part of his previous analysis of how XRP will rise to this price level, he stated that this was a “plausible target,” having the 2017 surge in mind when XRP saw a 61,000% gain in 280 days. Interestingly, Egrag’s recent chart shows that this price prediction could happen sometime this year. 

    XRP To $1.4 Before Then

    In the meantime, Egrag predicts that XRP could rise to $1.4 between March and April. According to him, once that happens, it will pave the way for “swift progression to $5 and beyond.” $5 is another price level that the XRP community has its sights on, considering that the analyst had boldly claimed that the token will hit it in 90 days.  

    Meanwhile, the crypto analyst is also aware of the fact that XRP investors are growing anxious about the crypto token’s stagnant price action despite ultra-bullish predictions. He warned these individuals against letting their emotions get in the way as the outcome of these emotions is “suboptimal” for effective trading or investing in the crypto space. 

    To be successful in such a volatile market, Egrag claims that a strategic and disciplined approach is required. In the process, one is able to build mental fortitude. This is also critical as trading in the crypto space is “indeed a mental game, demanding robust, sharp, and resilient metal skills to navigate the dynamic and unpredictable nature of these markets.”

    At the time of writing, XRP is trading at around $0.52, up over 3% in the last 24 hours, according to data from CoinMarketCap. 

    XRP price chart from Tradingview.com (Crypto analyst)

    Token price rebounds after drop | Source: XRPUSD on Tradingview.com

    Featured image from CoinJournal, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Ethereum Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom

    Ethereum Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom

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    Michael van de Poppe, a prominent crypto analyst, recently outlined three key factors that could herald a bullish phase for Ethereum, the second-largest crypto by market capitalization. One crucial factor he identifies is Bitcoin’s current behavior.

    The analyst pointed out that as the market leader, Bitcoin’s recent signs of bottoming out tend to precede altcoin rallies, hinting at a potential upswing for Ethereum. Moreover, Van de Poppe highlights the growing anticipation surrounding spot Ethereum exchange-traded funds (ETFs).

    According to Van de Poppe, the increasing buzz about these spot ETFs is a significant catalyst that could drive Ethereum’s value over the coming weeks.

    Additionally, Ethereum is on the cusp of rolling out critical network upgrades. These updates, aimed at reducing transaction costs by up to 90%, are expected to improve the network’s efficiency and scalability significantly.

    Latest Update On Ethereum Deacon Upgrade

    Regarding updates, Ethereum’s development team is making strides with the upcoming Dencun upgrade, a significant “hard fork” that aims to enhance the blockchain’s efficiency.

    Tim Beiko, a core Ethereum developer, updated the community earlier today on the progress. Dencun, which incorporates “proto-danksharding,” is set to reduce transaction costs on layer 2 solutions, making Ethereum more accessible and affordable for users.

    According to the developer, the upgrade is scheduled to activate on the Sepolia testnet on January 30 and the Holesky testnet on February 7, with mainnet implementation following if these tests succeed.

    Brighter Future Ahead

    Despite these positive developments, Ethereum’s market performance mirrors the overall bearish sentiment in the crypto market, led by Bitcoin. ETH has seen a 13.7% decline in the past week, currently trading at $2,216.

    ETH price is moving sideways on the 4-hour chart. Source: ETH/USDT on TradingView.com

    However, analysts like Van de Poppe urge caution, particularly regarding the impact of the Bitcoin spot ETF. While there may be short-term selling pressure, Van de Poppe remains optimistic about the long-term prospects.

    The analyst suggests that the influx of new capital from diverse market participants could propel Bitcoin, and by extension, Ethereum, to new heights.

    Featured image from Unsplash, Chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Samuel Edyme

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  • Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move

    Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move

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    Crypto analyst Jaydee has outlined a scenario in which the XRP price could rise to as high as $20 at the peak of the next bull market. According to him, this price level is possible if certain factors are considered. 

    What Will Facilitate XRP Price Rise To $20

    Jaydee mentioned in an X (formerly Twitter) post that $20 is a “possible top” for XRP using the market cap as a marker. For this to happen, he also noted that there must be a structure break on the charts.

    The analyst, however, is not holding his breath for that to happen. He further remarked that he was going to take profits once XRP was overbought on multiple higher timeframes. Interestingly, Jaydee had once shown his skepticism about XRP rising to between $10 and $15. As such, his latest analysis came as a surprise to some of his followers. 

    Meanwhile, crypto analyst Egrag Crypto recently provided an analysis of XRP’s current state. He stated that things are looking bullish on the monthly time frame. He further hinted that a major pump was “brewing,” but there could be more move to the downside before that happens. This, he says, will be “enough to spook the weak hands.” 

    The analyst also gave an insight into how low XRP could drop in another X post. He noted that XRP was currently in a critical zone and that a weekly close below the ascending triangle’s edge could trigger a price downturn to $0.34. On the other hand, if XRP were to close above $0.75, Egg believes that would invalidate his current setup.  

    In the meantime, the analyst sees these current dips in the XRP market as an opportunity to accumulate more tokens while preparing for the pump that will “roll in fast mode.”

    Token price falls to $0.5 | Source: XRPUSD on Tradingview.com

    The Bottom For XRP’s Current Trend

    The current belief among different crypto analysts seems to be that XRP is likely to decline further before it makes any parabolic move to the upside. Crypto analyst Ali Martinez had previously predicted that XRP could drop to $0.34 if it failed to hold above the $0.55 support level (which it has failed to do). 

    Now, crypto analyst XRP Shark is also echoing almost similar sentiments as he shared his belief that the price ranges between $.35 and $0.45 could be the bottom area for XRP’s move to the downside. Once the crypto token drops to that price range, he predicts that a “violent move to the upside” will follow. 

    As Egrag suggested, this move to the downside looks necessary to shake out weak hands before XRP experiences new highs. Crypto analyst Crypto Rover predicts that XRP will experience a “massive breakout” sometime in March. 

    Featured image from Coinpedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11

    Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11

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    Popular Crypto YouTuber Ben Armstrong has shared his bullish prediction for the Cardano (ADA) price. While giving his prediction, Armstrong also alluded to a recent ADA price prediction that crypto analyst Ali Martinez made. 

    Armstrong’s Bull Case For Cardano Is $11

    In a video posted on his YouTube channel, Ben Armstrong mentioned that his bull case prediction for ADA is $11. However, the crypto YouTuber didn’t share any analysis to back up his bullish sentiment. Instead, he only referred to an earlier ADA analysis that Martinez had shared as part of his prediction of ADA hitting $7. 

    In his analysis, Martinez highlighted how ADA was currently mirroring its “late 2020 behavior.” He further elaborated on how ADA could hit $7 if history were to repeat itself. According to him, if that were to happen, then ADA would resume an upward trend in April, while a pattern continuation will ultimately lead to the crypto token hitting that price level. 

    Meanwhile, Armstrong isn’t the only one who believes that the Cardano price could rise to as high as $11. Dan Gambardello, the founder of Crypto Capital Venture, had previously predicted that ADA would hit this price level at the peak of the next bull market. Unlike Armstrong, Gambardello provided deeper insights as to why he holds this belief. 

    He explained how Cardano has more functionalities now, unlike in the previous bull run. This includes the features that have allowed the DeFi landscape on the network to grow since 2021. The analyst also highlighted similarities between Ethereum and Cardano’s development while hinting that ADA could mirror the run that ETH enjoyed in the last bull run. 

    ADA Getting Ready For The Next Bull Run

    Gambardello, who once hinted that the next bull run was going to begin after the Bitcoin Halving, recently noted in an X (formerly Twitter) post that the bottoming out structure for Cardano was getting reading for this event. He highlighted how ADA cools off prior to the Halving event. According to him, this is “so bullish for ADA” as it possibly prepares for a move to the upside. 

    In the meantime, he hinted that ADA could experience a 30 to 40% move to the downside as it looks to consolidate with Bitcoin and the broader crypto market. Gambardello had previously mentioned that he wasn’t concerned by ADA’s price action and still wouldn’t be even if ADA were to drop below its current price level. 

    At the time of writing, ADA is trading at around $0.49, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

    ADA price struggles at $0.49 | Source: ADAUSD on Tradingview.com

    Featured image from The Cryptonomist, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin

    Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin

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    Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token. As part of his insights, the analyst hinted that the crypto token could outperform Bitcoin soon enough. 

    Injective To Breakout Against Bitcoin

    In an X (formerly Twitter) post, The Crypto Dog shared an INJ/BTC chart while hinting that an “incredibly bullish structure” was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a massive move against Bitcoin. 

    However, he didn’t provide details as to when this move could occur and what price levels INJ will hit once this impending breakout happens. Just like Solana’s SOL, INJ was another standout crypto token in 2023, as it rose to almost $40, enjoying a gain of about 3,000% in the process. This was more commendable, considering that it happened in an ongoing bear market.

    Interestingly, INJ’s run continued into the new year, with the crypto token hitting its current all-time high (ATH) of $45 on January 9. One of the narratives that is believed to have brought INJ this far is the one around artificial intelligence (AI) tokens, with AI projected to be one of the leading themes in the next bull run. 

    Injective, a layer-1 blockchain, also prides itself as the first blockchain to offer auto-executing smart contracts and happens to be one of the fastest blockchains out there. With such features, there is no doubt that the demand for the INJ token could continue to be on the rise as Injective’s utility increases. 

    INJ begins another recovery trend | Source: INJUSD on Tradingview.com

    Other Narratives That Could Lead To INJ’s Rise

    The Injective blockchain happens to be interoperable with Ethereum through its cross-chain infrastructure. This could be significant especially as Ethereum continues to see its dominance surge. Once ETH begins to run, INJ could be one of the biggest benefactors since some of the liquidity in the Ethereum ecosystem could easily flow into Injective.

    Injective’s distinct burn mechanism is another feature that could be a big plus for INJ’s price. The network is known to carry out a weekly on-chain buy-back-and-burn auction where 60% of fees generated on its protocols are auctioned, with users only being able to bid in INJ. The INJ tokens made from these auctions are then burned and removed from circulation. 

    These weekly burns are expected to be effective, considering that the token has a maximum supply of only 100 million. So far, close to 6 million of this supply have been burned. Meanwhile, at the moment, there are only just 83.7 million INJ tokens in circulation. 

    At the time of writing, INJ is trading at around $38, down over 4% in the last 24 hours, according to data from CoinMarketCap. 

    Featured image from Coinpedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Crypto Analyst Says A Solana Price Will Climb To $750, Here's When

    Crypto Analyst Says A Solana Price Will Climb To $750, Here's When

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    Crypto YouTuber Jake Gagain has shared his “insane price prediction” for Solana (SOL) as he said that the crypto token will climb to $750. The crypto analyst didn’t stop there as he also provided a timeframe for when this price level would be attained. 

    Solana Price To Rise To $750 In 2025

    Gagain said that he expects Solana to hit this price level by 2025 in an X (formerly Twitter) post. In the accompanying video, he outlined several reasons for this bullish sentiment. For the first, he alluded to the fact that the Solana network happens to be “quicker, safer, and much more affordable” than Ethereum. 

    According to him, more users from Ethereum and other networks are likely to migrate to the Solana network as more projects get built on it. This is based on his expectation that Solana will be the “top competitor” for Ethereum in the next bull run. Gagain further asserted that SOL will end up becoming the third largest token by market cap, only behind Bitcoin and Ethereum.

    The second reason why the analyst is bullish on SOL is because of how it has impressively recovered from the FTX scandal. Solana was at the heart of it as the crypto exchange’s founder, Sam Bankman-Fried (SBF), was one of the token’s biggest backers. SOL dropped below $10 as a result of this while being in the middle of a bear market. 

    However, it has recovered nicely since then, climbing above $100 towards the end of last year. That is why Gagain believes that the crypto token could go as far as hitting its all-time high of $260 and surpassing it. 

    SOL price drops to $95 | Source: SOLUSD on Tradingview.com

    SOL Is Also Making Its Way Into The Traditional Market

    Jake Gagain also highlighted the fact that Solana was making its way into the traditional market as another reason he was so bullish on SOL. Solana’s entry into the traditional market is said to be happening through its partnerships with notable brands. One of them, which the crypto analyst mentioned, was its partnership with Shopify. 

    Back when the partnership was confirmed, NewsBTC highlighted how it could help onboard more users into crypto and specifically into the Solana ecosystem. The network was projected to see more activity, considering the number of users Shopify already has. 

    Interestingly, the number of transactions Solana records daily is another reason why Gagain is most bullish on SOL. Network activity is known to be another factor that can affect a token’s price. 

    At the time of writing, SOL is trading at around $95, down over 2% in the last 24 hours, according to data from CoinMarketCap.

    Featured image from Analytics Insight, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst

    Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst

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    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 point for this meteoric rise has yet to be decided. 

    The analyst’s bullish prediction for Bitcoin stems from his belief in the max pain theory, which relates to a Bitcoin price that could cause most options traders to experience maximum loss. In Mow’s opinion, Bitcoin bulls have experienced this loss following the approval of the Spot Bitcoin ETFs, and the bears could experience “some pain soon.”

    Right before the approval order came in, Mow had predicted that Bitcoin was going to surge to $1 million in “days to weeks” and that most people were going to experience “max pain.” These ETFs also form part of the basis for why he believes that Bitcoin will hit this price level soon enough, as Mow foresees a huge demand for btc following this.

    Mow says that the Bitcoin market is getting to a point where the existing supply will not meet current demand. He also alluded to the upcoming Bitcoin Halving, hinting that it could be one of the catalysts that will spark this parabolic rise in Bitcoin’s price. Interestingly, he had before now mentioned that Bitcoin will hit a new all-time high (ATH) before the Halving event takes place. 

    BTC bulls struggle to reclaim control | Source: BTCUSD on Tradingview.com

    A Market Adjustment Is Currently Ongoing

    Mow also gave his opinion on the reason for Bitcoin’s recent decline as he noted that the market was simply adjusting. He further explained that GBTC holders were currently rotating out, which was pushing Bitcoin’s price down. He also alluded to how MicroStrategy’s stock was “trading below BTC par value.”

    Therefore, the crypto community needs to be patient as “time is needed for everything to recalibrate,” Mow says. It shouldn’t be long for that to happen, though, as the crypto analyst claimed that the GBTC sell pressure “won’t be a long drawn out process.” 

    He believes that many of GBTC’s investors won’t be able to offload their stocks because the “tax hit is too big” and that Grayscale will eventually capitulate on its fees. The asset manager currently has the largest fee among all Spot Bitcoin ETF issuers, and this is believed to be the reason why its investors are offloading their shares and rotating to other funds. 

    Featured image from Bitcoin News, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Predicts Dramatic Rise In Cardano (ADA) Price, Here’s The Target

    Crypto Analyst Predicts Dramatic Rise In Cardano (ADA) Price, Here’s The Target

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    Crypto analyst Guy Turner has predicted that Cardano (ADA) could experience a significant price surge soon enough. The analyst also gave an insight into what price levels the crypto token could hit when this happens. 

    Cardano To Rise To $1

    In a video posted on his YouTube channel, Turner mentioned that ADA could rally to as high as $1 as that is the next significant level of resistance. The analyst’s projection is based on the fact that ADA’s weekly chart suggests that the crypto token is in the process of painting a bull flag. 

    A rise to $1 doesn’t seem impressive to the analyst as he alluded to SOL’s price, which has seen incredible gains from its past lows. The crypto analyst highlighted Cardano’s fundamentals as one reason why it has continued to underperform. According to him, the supply of the token seems to be outweighing the demand for it.

    He also singled out Cardano’s founding entities, IOG, EMURGO, and the Cardano Foundation, for contributing to a lot of sell pressure for the crypto token. These organizations are said to be selling a huge chunk of their ADA holdings to fund their operations. The silver lining is that this supply and demand dynamics doesn’t look to have impacted ADA’s price too much, Turner said.

    Meanwhile, he sounded bullish on Cardano in the long term as he noted that the interest rates, which have had more impact on ADA’s price, are likely to keep declining. As such, the crypto analyst believes that the crypto token could continue to rally alongside the rest of the broader crypto market despite its poor fundamentals. 

    ADA price at $0.51 | Source: ADAUSD on Tradingview.com

    Will ADA Hit New All-Time Highs This Year?

    Turner further stated that whether or not ADA will hit new all-time highs this year will depend on its upcoming milestones. One of them happens to be the CIP 1694, a proposal that has been in focus in the Cardano ecosystem over the last year. Having been voted upon and passed, the CIP 1694 is set to be implemented with the Chang Hard Fork set to take place early this year.

    Another milestone, which Turner considers the most important of them all, is the likely introduction of Cardano’s first fiat-backed stablecoin this year. IOG is said to be working on their stablecoin project, which could be released soon enough. Mehen Stablecoin’s USDM, which Turner referenced in his video, is also billed to launch in the first quarter of this year. 

    Following the release of Turner’s video, Mehen provided further updates on the USDM launch. They stated that the stablecoin is currently at the final stage of the audit. Once that is done, they plan to announce a final launch date. 

    The introduction of Cardano fiat-backed stablecoin is an important milestone as it can further boost the DeFi landscape on the network. The crypto analyst highlighted that it is “very difficult” to grow decentralized applications (dApps) on the network without the help of liquid fiat stablecoins. 

    Featured image from FX Empire, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Crypto Analyst Predicts 100% Surge For Shiba Inu, But There’s A Roadblock

    Crypto Analyst Predicts 100% Surge For Shiba Inu, But There’s A Roadblock

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    Through the rips and dips of the crypto market, the Shiba Inu price has been able to maintain a rather consistent bullish momentum, something that cannot be said for a lot of cryptocurrencies. Given this sustained bullish sentiment, the meme coin is primed to be one of the assets to see a massive rally as the market inches toward another bear market. In the short term alone, pseudonymous crypto analyst MMBTtrader is predicting that the price will mount a 2x rally.

    Shiba Inu Price Ready To Rise 100%

    In a recent analysis, crypto analyst MMBTtrader reveals why they believe that the Shiba Inu price is set to double.  As the chart shows, there has been a steady uptrend in the Shiba Inu price over the last few months, and even when the uptrend seemed to have come to an end, the SHIB price maintained a relatively high price compared to its October lows.

    This outperformance has continued into the new year as SHIB was able to still maintain the $0.00001 level despite dips rocking the crypto market. This suggests that bulls have been able to successfully turn $0.00001 into support. In this scenario, it could easily become a launchpad for the price.

    Source: TradingView.com

    The crypto analyst’s prediction suggests that it could begin to range at its current price. However, once this ranging ends and accumulation is complete, this is where the real fun begins for the SHIB price when the rally is expected to begin.

    A bounce from here would see SHIB easily clear the $0.000014 level with no hassle. However, the first roadblock lies just above here. In the event that Shiba Inu is quickly able to surmount the resistance at $0.0000143, another pump is expected that could lead up to $0.000018.

    Since there is no such thing as a single continuous upward movement, resistance is expected just below $0.000018. Nevertheless, this is the last resistance and if Shiba Inu climbs above this level, then it is expected to shoot above $0.00002, completing a 100% move from its current price.

    Shiba Inu price chart from Tradingview.com (SHIB 100% rally)

    SHIB price at $0.0000094 | Source: SHIBUSD on Tradingview.com

    SHIB Sways Amid Market Uncertainty

    In the weeks leading up to January, confidence around the potential approval of a Spot Bitcoin ETF was at an all-time high, with experts giving it a 95% chance of approval. However, this sentiment has begun to sway especially as BlackRock revealed it will be delaying its $10 million BTC purchase.

    As a result, the price of cryptocurrencies across the space declined rapidly and the Shiba Inu price was not left out. SHIB finally lost its footing at $0.00001 for the first time in over two weeks, falling to the $0.000009 region once again.

    However, this is not out of the ordinary and could lead to the SHIB ranging and accumulation that the crypto analyst outlines. In such a case, this could present a setup for a bigger price rally as expectations for a bull market grow high.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Best Owie

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  • Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It's Impossible

    Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It's Impossible

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    XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief. 

    Why The XRP Price Cannot Rise To $20,000

    In a video on his YouTube Channel, Moon Lambo explained that XRP’s market cap will need to run into quadrillions of dollars if it were to achieve that price level based on its current market cap. However, from his calculation, there is not enough money in the world for such an occurrence, as at least $100 trillion will need to flow into the XRP ecosystem for that to happen.

    According to the YouTuber, there is a “0% chance” that this will happen. He dismissed any argument that some assets could be sold off to fund this amount of inflows into the XRP ecosystem. This is unlikely to happen as those assets will need to go to zero to get the amount of liquidity needed to get the XRP price to $20,000, Moon Lambo argued. 

    XRP being worth that amount would also mean the crypto token having a market cap worth over ten times more than the value of the US stock market. Moon Lambo says that it is “utter nonsense” to think that this will happen. He believes there is no way that XRP can be more valuable than all the foremost companies in the US put together. 

    He also alluded to arguments that XRP can attain this price by becoming the currency for the global reserve. He says that swapping out the dollar, which currently accounts for a huge chunk of the global reserve, won’t still see the crypto token get the required liquidity to hit $20,000.

    XRP price at $0.63 | Source: XRPUSD on Tradingview.com

    Enough Reason To Still Be Excited As An XRP Holder

    Despite his stance, Moon Lambo is still bullish on the XRP price. He stated that the crypto token doesn’t need this “crazy hype nonsense” for one to be excited as an XRP holder. The crypto analyst believes that as far as XRP is widely adopted, there is enough money that can flow into it, which could cause its price to hit three digits. 

    Unlike a price prediction of $20,000, XRP’s price hitting three digits is still within the “realm of possibilities.” However, Moon Lambo doesn’t see that instantaneously happening as he says that it could take “many market cycles.” The good news is that anyone who has been in on XRP for some time is already well-positioned for such a multiplier effect. 

    Meanwhile, analysts who have in the past made such “impossible” price predictions of $20,000 were not spared in the crypto analyst’s rant. Moon Lambo mentioned that such people only make baseless claims and do not provide justification for such assertions. 

    He provided insight into why these analysts make such predictions as he suggested that they were doing this to get more audience. He remarked that he would probably get more subscribers if he jumped on this “bandwagon.” However, he has no intention to do that as he says it will be “intellectually dishonest” to do that.

    Featured image from Tekedia, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Crypto Expert Shares Ultimate Crypto Portfolio Guide To Make It In 2024

    Crypto Expert Shares Ultimate Crypto Portfolio Guide To Make It In 2024

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    The crypto industry is now set for a strong bullish run in 2024, with most analysts predicting assets to reach new all-time highs. As a result, investors are always on the lookout hoping to jump on cryptocurrencies that offer the potential for substantial returns.

    A recent social media post by a crypto analyst known pseudonymously as Emperor Osmo listed the best cryptocurrencies to get on in 2024 across various trends and market niches.

    Expert Shares Ultimate Crypto Portfolio Guide

    The analyst’s crypto recommendations for the year were based on an analysis by CryptoKoryo Research on the Dune Analytics platform. Each recommendation was placed into an investing risk curve depending on the sentiment of the general population of market participants. 

    Building the ultimate crypto portfolio for 2024 necessitates the selection of a mix of assets across the risk curves. Some more established blue chip cryptos provide stability and steady gains, while higher-risk assets have the potential for huge gains.

    Recommendations on the left curve predominantly consisted of attention-grabbing cryptocurrencies. The cryptos included BONK, the first dog-themed coin on Solana, COQ, the first meme coin on Avalanche, CTXC, and PYR, the native token for Vulcan Forged, a blockchain game studio, and NFT marketplace. 

    These cryptos went on astounding price surges in the last quarter of the year and mostly thrived on hype among investors. According to CryptoKoryo, the five cryptocurrencies made an increase of 1,571% in the past three months. If the hype continues in 2024, we could see them reach new highs, particularly in the first quarter.

    Total market cap at $1.7 trillion | Source: Crypto Total Market Cap on Tradingview.com

    On the other hand, the mid-curve portfolio assets included less volatile layer-1 tokens, AI tokens, DeFi tokens, and layer-2 tokens. The 11 cryptocurrencies highlighted were AVAX, BCB, STEAK, GNX, ILV, KUJI, METIS, MPL, ORAI, PYR, and SOL, each going through a moderate price surge throughout 2023. According to CryptoKoryo, the five cryptocurrencies made an increase of 260% in the past three months.

    Lastly, the right curve consisted of very stable assets with a higher potential for stable price growth in 2024. The cryptocurrencies highlighted were INST, JOE, LINK, METIS, ORAI, SKL, and SOL with a combined 253% performance in the past three months. 

    Crypto guide

    Source: X

    While the recommendations on the left and middle curves are very volatile and have a higher chance of dumping, the right curve cryptocurrencies have created a proven track record over the years, and many analysts project continued price growth throughout 2024. 

    On the other hand, cryptocurrencies on the middle curve are a bit more volatile but still relatively safe as far as cryptos go, while those on the left curve have the highest volatility risk but could lead to massive returns if they take off.

    Featured image from StormGain, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Top Banker Reveals Why XRP Price Will Rise 390,000% To $2,500

    Top Banker Reveals Why XRP Price Will Rise 390,000% To $2,500

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    Crypto analyst Egrag Crypto recently shared an interesting story of his discussion with a top banker regarding the XRP price. The discussion centered around XRP, with Egrag and the banker analyzing how the altcoin could be worth $2,500 in the near future. 

    XRP Price To $2,500 Is A Possibility

    Talks about XRP hitting $2,500 arose when the banker challenged Egrag to explain how 40,000 XRP could end up equalling $100 million. The banker was aware of Egrag’s knowledge of technical analysis and, from the story, seemed to have posed the question to see if Egrag believed XRP could attain such heights of $2,500.

    The crypto analyst took up the challenge and explained to the banker, using a chart that he shared in his post, how XRP will hit $2,500. Egrag did justice with his explanation as the banker had nodded in agreement. The banker also went on to pinpoint how the financial cycles were aligned for the token to achieve this price action.

    From the chart, the XRP price hitting this price level could happen by 2029. That is why the banker sees the altcoin as a long-term investment, as he says that holding the altcoin till then could yield incredible rewards. The crypto analyst provided insights into this banker’s wealth of experience as he is said to boast connections across all spheres in the banking and finance sector. 

    The banker had also alluded to how Ripple’s CTO, David Schwartz, had raised the prospect of 40,000 ETH being equal to $100 million. Then, it might have sounded implausible to many, but it has somehow materialized. He sees the same thing happening with XRP, just that this time, it could take longer, considering that ETH hit $2,500 in a shorter period. 

    Token price still showing strength  Source: XRPUSD on Tradingview.com

    Holders Need To Be More Patient 

    Egrag has continued to reiterate that patience is key if XRP holders want to enjoy huge returns on their holdings. Going by this recent prediction, the XRP price could make a 390,000% gain for investors by 2029. However, it will require a lot of belief and perseverance if these holders hope to partake in such a mammoth gain. 

    In the meantime, the analyst is encouraging the community to accumulate as much XRP as they can. He stated that the banker told him that the crypto token could be the “ultimate savior” for liquidity when the tides slow down. This is a possibility, especially considering that a crypto founder had recently asserted that the crypto will surpass Bitcoin. 

    At the time of writing, the XRP price is trading at around $0.64, up by over 3% in the last 24 hours, according to data from CoinMarketCap. 

    Featured image from CoinMarketCap, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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