Author: dfmines

Alan Santana, a crypto analyst on TradingView, has predicted that the Bitcoin price could potentially experience a drastic decline to new lows around $35,720, driven by muted buying volume. The analyst has declared that the current state of the market is bearish, highlighting potential manipulation from whale investors.  Bitcoin Price Could Crash To $35,720 According to Santana, Bitcoin has witnessed 75 days of bullish activity but has not reached projected new price peaks, currently trading within a lower high below $70,000. While the cryptocurrency did hit an All-Time High (ATH) in March, surging past $73,000, Santana has concluded that the general market has become relatively bearish.  Related Reading: Dogecoin Flashes Sell Signal After 30% Rally – Time To Sell? He disclosed that most of the Bitcoin price action between August 5 and to present day is forming part of an inverted correction, which suggests that prices have been rising but without reaching new peaks.  Santana also declared that the current Bitcoin price action confirms that there is no bullish momentum. He attributed this lack of momentum to muted whale activities, highlighting that there are currently no buyers or buying volume at the current market level. Due to these bearish conditions, Santana has predicted that Bitcoin could end up crashing to $35,720, representing a massive 46.68% decrease to new lows. This also means that Bitcoin’s price will drop by almost half, triggering panic and fear amongst retail and whale investors. Contrary to Santana’s bearish analysis, the price of Bitcoin is up by 5.56% and trading at $68,203, according to CoinMarketCap. The cryptocurrency is gradually increasing to reach the $70,000 mark, driven by positive changes in market sentiment and the historically bullish Q4.   Although Santana has stayed firm in his bearish predictions of Bitcoin due to limited buying power, the analyst has also received severe backlash from various crypto community members. One member criticized Santana’s bearish Bitcoin prediction, suggesting that there were flaws in his analysis. Others accused the analyst of attempting to manipulate investors by using a Bitcoin chart from a Blofin exchange, which typically has lower transaction activity.  Bitcoin Market Manipulation And Bears Despite the heat from crypto members, Santana believes that market manipulation has led to the current bearish price action in Bitcoin. The analyst highlights that Bitcoin’s price can be artificially manipulated by large holders or so-called Whales.  Related Reading: FLOKI Breaks Out Of Downtrend: Analyst Predicts 200% Rally To New All-Time High He stated that these whales can push the price of Bitcoin up hoping that retail investors will dive into the market and buy, ultimately triggering a bullish wave. According to Santana, if there are no genuine Bitcoin buyers, the alleged manipulation could backfire, possibly leading to losses for said market manipulators.  Santana has revealed that retail investors are no longer easily fooled into buying Bitcoin at the top, showing more caution due to previous cycles of manipulation and hype. He also disclosed that buyers are not swayed by exaggerated predictions of substantial future gains by analysts, claiming that Bitcoin could reach $3,000,000.  Featured image created with Dall.E, chart from Tradingview.com

A new JPMorgan report warns that carry trades are losing effectiveness as global interest rates decline, urging investors to be more selective with currency risks. The Japanese yen has lost appeal after unexpected rate hikes, while the Swiss franc carries potential bullish risks. JPMorgan suggests rethinking strategies as carry trade returns are expected to diminish […]

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Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the recent movements by Brazil to further push de-dollarization within BRICS and how this might affect the trading framework of the entire bloc. Latam Insights Encore: Brazil Called to Lead […]

Stacks Network, the Bitcoin layer-2, is one of the largest DeFi protocols on the world’s most secure platform. DeFiLlama says the platform manages over $109 million worth of assets. It continues to expand and improve as decentralized financial services find traction. Stacks Network Activating Nakamoto On October 29 Over five years after launching, the network is preparing for one of its most important upgrades: Nakamoto. Analysts and platform supporters claim this update would have far-reaching implications, especially for its ecosystem. Related Reading: Ripple At A Critical Juncture Like Amazon In 1997, Says Investment Pro The team said the latest update would go live on October 29. Most importantly, the transition will introduce features that boost throughput and security. On scalability, Stacks might be looking to march Ethereum layer-2s that currently process transactions cheaply and can host transaction-intensive dapps. Once the upgrade activates, Stacks will decouple from the Bitcoin block production speed of roughly 10 minutes. The decoupling will see the platform process transactions within seconds. The change means Stacks will handle more transactions, process them faster, and improve the user experience. However, the team said this decoupling won’t mean the end of the relationship between stackers and Bitcoin miners. In the team’s view, not only will the collaboration be enhanced, but Stacks as a layer-2 will be more decentralized and, therefore, robust. Since Stacks is a layer-2, relying on Bitcoin for security, all transactions would still have to be confirmed on the base layer. Accordingly, though its transaction mining will be decoupled from the layer-1, all transactions will be finalized on the Bitcoin mainnet. This confirmation will be irreversible, leading to better security without the risk of transaction reversals. STX Moving Inside A Mega Consolidation: Will Bulls Break $2? As bullish as the Nakamoto upgrade may be, STX, the native token, is flatlining. From the daily chart, the coin is stuck inside a mega consolidation from early July. Related Reading: Solana Bulls Push Past $164 Barrier, Momentum Signals More Gains STX prices are moving between $1.20 and $2. The token has steadily recovered after crashing in early August, adding nearly 60%. Nonetheless, for the uptrend to take shape and buyers to initiate steps of peeling back March to July losses, there must be a decisive breakout above $2. If this leg up is with rising volume, it could trigger a wave of higher highs, mirroring those from early Q4 2023 to mid-March. STX may soar to $4 in that event, nearly doubling from September highs. Feature image from iStock, chart from TradingView

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Bitriver, a Russian data mining company, has partnered with the Russian Direct Investment Fund (RDIF) to expand data center infrastructure and AI projects across BRICS countries. The goal is to boost Russia’s presence in AI and cryptocurrency mining. Both entities plan to build data centers and focus on enhancing their potential. This partnership aims to […]