Author: dfmines

Crypto analyst TechDev has predicted that the Bitcoin price could rally to as high as $139,000 in this market cycle. The analyst made this prediction based on previous election cycles, which were also bullish for the flagship crypto.  Bitcoin Price To Reach $139,000 Based On Previous Election Cycles In an X post, TechDev predicted that the Bitcoin price could reach $139,000 in this bull run based on previous election cycles. In 2012, the Bitcoin price was $10 on election day, and a year later, BTC witnessed a 22.7x increase as it rallied to $245. In 2016, Bitcoin was $710 on election day and then recorded a 10.12x increase as it rallied to $7,200.  Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern Meanwhile, in 2020, the Bitcoin price was at $13,588 on election day. Then, it witnessed a 4.51x increase and rallied to $61,300 a year later. The analyst highlighted a pattern whereby Bitcoin’s price replicates its increase from the previous cycle plus an additional 44.5% surge, which led to Bitcoin’s price a year after the US elections.  Based on this, TechDev noted that the BTC price could reach $139,000 if it replicates its 4.51x increase from the previous cycle plus an additional 44.5% surge. Bitcoin was trading at $69,400 on the day of the US presidential elections earlier this month.  The US presidential elections have historically been bullish for the BTC price as the flagship crypto always hits new highs after every election cycle. It is also worth mentioning that Bitcoin never dropped below its price on election day. Moreover, this election cycle looks more bullish than others, considering the US now has its first-ever pro-crypto president.  The Bitcoin price has reacted positively to Donald Trump’s victory, continuing to pump since Trump defeated Kamala Harris. The flagship crypto is now eyeing the $100,000 milestone, having surged over 37% since the start of this month.  What Happens Next When BTC Hits The $100,000 Milestone Crypto analyst Ali Martinez has provided insights into what could happen next after the BTC price hits the $100,000 milestone. In an X post, the analyst said that Bitcoin’s price action looks like it did in December 2020. He added that the Relative Strength Index is also nearly identical to the one in December 2020.  Related Reading: Analyst Confirms Dogecoin Price Test Of 0.786 Fibonacci Level, What Happens Next? If Bitcoin is to replicate the price action from that period, Martinez predicts that the Bitcoin price will rally to $108,000 after it hits $100,000 and then drop to $99,000 before it continues its uptrend and further rally to $135,000. Coincidentally, this comes close to TechDev’s target of $139,000 for Bitcoin.  At the time of writing, the Bitcoin price is trading at around $97,000, up over 5% in the last 24 hours, according to data from CoinMarketCap.    Featured image created with Dall.E, chart from Tradingview.com

The SEC’s reported progress on Solana ETF filings and potential leadership changes have sparked optimism, signaling a possible shift in cryptocurrency investment regulations. Solana ETF Filings Spark New Hope Discussions about a solana (SOL) spot exchange-traded fund (ETF) between the U.S. Securities and Exchange Commission (SEC) staff and prospective issuers are reportedly moving forward, according […]

Based on the most recent data using the seven-day simple moving average (SMA), bitcoin’s hashrate climbed to an unprecedented peak on Nov. 21, reaching 776 exahash per second (EH/s) for the very first time. Bitcoin’s Computational Power Hits Stratospheric Levels On Thursday, bitcoin (BTC) soared to a fresh all-time high, hitting $99,121 per coin. This […]

Bitwise, VanEck, 21Shares and Canary Capital have also recently submitted their S-1 registration statements to list a spot Solana ETF in the US.

XRP advances with a new institutional-grade exchange-traded product, offering secure, physically backed exposure as Wisdomtree expands crypto products amid growing investor interest. XRP Gains Ground: Major ETP Launched by a Top European Asset Manager Asset management firm Wisdomtree announced on Thursday the launch of its latest cryptocurrency exchange-traded product (ETP), the Wisdomtree Physical XRP (XRPW), […]

XRP is gaining prominence in the cryptocurrency market, propelled by a substantial purchasing surge from major investors referred to as whales. Related Reading: Upbit Listing Sends BONK Skyrocketing 67% For A Fresh ATH In Memecoin Mania Within a single week, these whales have amassed over $526 million in XRP, representing the most significant accumulation in nearly three years. The increase in purchasing activity follows XRP’s price surpassing the $1 threshold for the first time since 2021, igniting increased interest and hope among investors. Whale Activity Indicates Assurance About 453 million XRP tokens, or a sizable portion of the asset’s circulating supply, are recent whale acquisitions. Crypto experts claim that this degree of hoarding usually indicates strong belief in XRP’s future performance. These big players reduce the supply on exchanges as they acquire tokens, and as a result raising demand and price. Notably, while large institutional buyers are buying a lot, smaller individual traders seem to be selling off their holdings. It is said that funds with less than 1 million XRP sold a total of 75.7 million shares during the time period in question. There is a clear shift in how the market feels: big buyers are betting on XRP’s rise, but small traders are more cautious. 🥳📈 XRP has now broken a 3-year high, reaching $1.2679 on Binance for the first time since November 11, 2021. This rally has come on the backs of key whale & shark wallets that hold between 1M-100M tokens. This group has collectively accumulated 453.3M more tokens (worth… pic.twitter.com/8F0IjXs7A5 — Santiment (@santimentfeed) November 16, 2024 Historical Trends Indicate Potential Gains Historically, significant whale accumulation has preceded substantial price fluctuations for XRP. Analysts reference historical occurrences when such configurations resulted in substantial gains—occasionally above 1,300%. #XRP Channel B – Monthly Time Frame (Update): In the past, when #XRP broke out of Channel A and Channel C, it pumped by 1,307% and 1,341%! 🔥 Now, #XRP is fighting at the edge of Channel B, trying to flip it into support. If history repeats, we could see a pump of 1,324%. 🎯… https://t.co/R6ktTVdWL5 pic.twitter.com/q19rKaNjFx — EGRAG CRYPTO (@egragcrypto) November 20, 2024 Currently reaching critical support levels—an analyst refers to as “Channel B”—in his chart, XRP is causing great concern since a breach of this resistance might cause a notable price rise. Market watchers say XRP might aim for a price range of $13 to $15 in the near future should this trend continue. This projection depends on past performance as well as contemporary technical signals showing a favorable coin situation. Related Reading: Solana Market Cap Hits Milestone: $400 Price Target Gains Traction Wider Market Context The current increase in XRP’s price corresponds with overall favorable developments in the cryptocurrency sector. Elements include the prospective authorization of an XRP Exchange-Traded Fund (ETF) and conjecture on regulatory changes have fostered a surge of optimism. The latest political developments in the US, especially indications of changes within the SEC, have intensified enthusiasm among XRP fans. XRP’s market capitalization has dramatically increased, elevating its position in the cryptocurrency rankings. Analysts anticipate that if prevailing patterns persist, XRP may experience even more significant increases in the forthcoming months. With whales spearheading the initiative and historical data supporting their actions, numerous observers are closely monitoring the potential ascent of this digital asset. Featured image from DALL-E, chart from TradingView

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The new trademark filing from Trump Media and Technology Group mentions digital wallets, cryptocurrency payment processing services, and a digital asset trading platform. 

A U.S. senator has proposed selling gold reserves to create a strategic bitcoin reserve, a revolutionary move to bolster the dollar and tackle U.S. national debt. Selling Gold for Bitcoin: US Senator’s Game-Changing Proposal U.S. Senator Cynthia Lummis (R-WY) shared insights during a Thursday interview with CNBC as bitcoin reached a historic peak. She attributed […]