The Elliott Wave theory has gained significant popularity among Bitcoin analysts for its effectiveness in predicting the future movement of the cryptocurrency’s price. One pseudonymous crypto analyst, XForceGlobal, recently utilized this theory to estimate the potential next steps for the price of Bitcoin. In the analysis shared on TradingView, XForceGlobal applied the 5-wave Elliott Wave
Bitcoin
Bitcoin open interest is a crucial metric that reflects how investors are perceiving the cryptocurrency market and what kind of bets they are placing. The recent surge in Bitcoin open interest to a new all-time high has significant implications for the market, indicating a shift in sentiment among investors. After experiencing a decline in open
The Bitcoin price hit an all-time high of $73,400 in March 2024 and has been struggling to regain that level ever since. Despite this, there are still high expectations for a potential recovery, with crypto analyst “Melikatrader94” predicting a new peak at $77,600. This forecast is based on various bullish chart patterns that have emerged
Semilore Faleti has made a significant impact in the world of cryptocurrency journalism. With a background in content creation and a passion for educating individuals on the complexities of blockchain technology, Semilore has established himself as a trusted source of information in the crypto space. Early Career and Specialization Starting out as a writer covering
The recent on-chain insights have shed light on the end of Bitcoin miner capitulation, a positive sign for the flagship cryptocurrency. The Glassnode Hash Ribbon indicator has shown a cross of the short-term moving average below the long-term moving average, indicating the potential start of a recovery phase for the network. This suggests that Bitcoin
A recent declaration by a market strategist has set the tone for a potential turnaround in the world of cryptocurrency. Bitcoin, the largest cryptocurrency in the market, is said to have finally concluded its downtrend. The strategist’s analysis points towards a new price target for Bitcoin, driven by a positive shift in its market value.
Upon analyzing the insights provided by crypto analyst Rekt Capital, it is essential to approach the predictions regarding Bitcoin’s future trajectory with skepticism. While Rekt Capital suggests that Bitcoin may not be ready for its next leg up just yet, claiming that it could climb back above $70,000, it is crucial to question the basis
The German government recently made headlines for selling off all of its Bitcoin holdings in just two weeks. The reason behind this massive Bitcoin dump was revealed in a statement by the Saxony Central Office for the Protection and Realization of Virtual Currencies. The sale, which began on June 19, 2024, and concluded on July
In a recent forecast by Joe Burnett, Senior Product Marketing Manager at Unchained Capital, a compelling case was made for Bitcoin reaching a valuation of $750,000. Burnett highlighted the tendency of the market to underestimate Bitcoin’s potential in the current cycle. He pointed out that many analysts make the mistake of comparing Bitcoin’s performance in
Bitcoin developer Samson Mow has been vocal about his bullish prediction that Bitcoin will eventually reach $1 million. Despite some skepticism in the market, Mow has confidently stated that this milestone will be achieved within a year. His reasoning behind this ambitious target is based on the simple economics of supply and demand. Mow believes
