On April 28, 2024, the price of bitcoin was coasting along at $62,900 per unit as of 7:28 p.m. Eastern Time (ET). Since then, the price fell below the $62K mark by Monday morning ET, only to climb back above $62,000 by mid-afternoon. It has been nine days since the last halving event and 109 […]
Bitcoin and altcoins are falling toward strong support levels, which appear likely to hold in the short term.
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Expectations for the crypto industry are still high, and altcoins, in particular, are expected to do well. One crypto analyst known as El Crypto Prof on X (formerly Twitter), shares this sentiment, expecting the altcoin market to go on a parabolic rally. Altcoins Are Set To Explode In a post on X (formerly Twitter), the crypto analyst highlighted why the altcoins market was said to explode. The chart attached to the post showed previous bull cycles for the crypto market and why the current muted performance from the market was normal. Related Reading: Bitcoin Daily Transactions Just Hit A New ATH – What’s Driving It? For example, back in 2016, the crypto market went into accumulation mode after the Bitcoin halving, where altcoins stalled for a while before picking up. The same was the case in 2020 as well following the Bitcoin halving, with accumulation dominating the market for a few months before bouncing. The same trend is repeating itself in 2024 after the Bitcoin halving was completed a week ago. Looking at the chart, the crypto analyst highlights this accumulation trend is happening once again. But this is not the only thing that is repeating itself. Following each period of accumulation has been the backtest, and a successful confirmation above this point has always begun the altcoin rally. The analyst points out that this backtest is already happening, and from here, altcoins could see a significant explosion. #Altcoins Anyone who is bearish here obviously hasn’t done their homework. Altcoins about to enter the parabolic curve, if we repeat 2016 and 2020. History doesn’t repeat itself, but It often rhymes. -Accumulation1⃣ -Backtest2⃣🎯 -Send it3⃣ Months of glory ahead imo. pic.twitter.com/uUrKj8qau1 — 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) April 28, 2024 They further explain that if the trend continues like it did in 2016 and 2020, then the altcoins market could see “months of glory ahead.” This could easily see the total altcoin market cap double like it did in 2016 and 2020, and given the current market cap of around $1 trillion, the market cap is expected to cross $2 trillion. “Anyone who is bearish here obviously hasn’t done their homework,” the analyst warned. Crypto Market Still Bullish Despite the price declines that have rocked Bitcoin and altcoins over the month of April, the market remains bullish. One indicator of this is that the Crypto Fear & Greed Index continues to trend in the greed territory, meaning investors are still willing to put money in the market. Related Reading: Bitcoin Raises Bull Flag, Formation Triggers Calls For $100,000 Rekt Capital, another crypto analyst, also backs up Crypto Prof’s analysis. The analyst also took to X (formerly Twitter) to reveal that the Bitcoin price is also in an accumulation phase, which he refers to as the “Re-Accumulation period.” However, the analyst believes that many will miss the subsequent breakout, saying, “Months from now, nobody will remember this Re-Accumulation period. But everybody will remember the Parabolic Phase that comes afterwards.” #BTC We are here (green circle) Months from now, nobody will remember this Re-Accumulation period But everybody will remember the Parabolic Phase that comes afterwards And they will remember and talk about it for years to come$BTC #Crypto #Bitcoin pic.twitter.com/gO52E7ZnKX — Rekt Capital (@rektcapital) April 28, 2024 Altcoins market cap at $1.016 trillion | Source: Crypto Total Market Cap Excluding BTC on Tradingview.com Featured image from Cointribune, chart from Tradingview.com
after a shit ton of hardwork (and investing in other coins slowing me down i’ve finally got one cent in ethereum, which sounds like nothing but i didn’t think i could make money doing daytrading (and holding of course) submitted by /u/SnowFiender [link] [comments]
Grayscale’s Bitcoin Trust (GBTC) has witnessed a significant reduction in assets under management, with the trust’s holdings now falling below the 300,000 BTC mark, a key milestone. Additionally, the latest report on digital asset fund flows from Coinshares shows that bitcoin and ether exchange-traded products (ETPs) have seen withdrawals for three consecutive weeks. Heavy Withdrawals […]
Avalanche C-Chain users can now buy AVAX directly within Web3 apps by using a widget supplied by Stripe.
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according to the last AnciliaInc message, 0x00b8B32A4Be7B9130b59DdB4269ab89b7cefd2fA is a scum wallet I got the following fancy graph Transactions flow graph submitted by /u/Civil-Bee-f [link] [comments]
