Category: Cryptocurrency News

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Singapore’s crypto-friendly regulations and doubling of licenses in 2024 position it as a growing hub for blockchain innovation.

In a technical analysis shared by crypto analyst Bobby A (@Bobby_1111888) on X, the analyst projects that XRP will potentially reach the $15 mark in this bull run, contingent upon historical price movement patterns aligning. The analysis delves into XRP’s past market cycles, applying percentage-based extrapolations and chart pattern assessments to forecast future price trajectories. Is A XRP Price Of $15 Realistic? Bobby A’s analysis juxtaposes XRP’s performance during its 2017 market cycle against its current 2024 trajectory. From the range-high breakout in 2017, marked by a horizontal black dashed line on the chart, XRP experienced an initial appreciation of 629%. In comparison, the asset has appreciated approximately 331% since its range-high breakout in 2024. Extending further back, from the December 2014 high to the May 2017 peak—approaching the 4.236 Fibonacci extension—XRP saw a staggering 1,330% increase. Related Reading: XRP Nears Oversold Territory: Will $1.9 Support Trigger A Rebound? Applying the principle of reducing percentage point increases by half, as observed from the initial surge in 2017, Bobby A posits that XRP’s next impulse could result in a 665% increase. This calculation positions XRP at an approximate $15.00 near the 4.236 Fibonacci extension level. “XRP appears to be cutting its percentage point increases in half compared to its 2017 market cycle. If XRP cuts its next impulse in half from a percentage point increase perspective, as it did with this first one, it would put the asset’s price at roughly ~$15.00 near its 4.236 extension after a possible 665% increase,” Bobby A elaborates. Notably, the analyst also notices a developing bull flag pattern, a continuation pattern that typically signals the potential for further upward movement. This bull flag is targeting the upper boundary of XRP’s macro parallel channel, estimated around the $10.50 price level. “The current bull flag the asset is forming targets the top of its macro parallel channel near $10.50,” Bobby A notes. Related Reading: XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important Another analyst, bassii (@cryptobassii), responded with a contrasting viewpoint centered on fractal analysis. Bassii posits that the ongoing run may be curtailed by 42%, projecting XRP’s price to approach $9, followed by a significant downturn. He elaborates on the fractal patterns, stating, “This run seems to be cut to 42%, would get us close to $9, then a big drop. But you’re missing the last part of the 2017 run, IF (big if) that happens, and we keep same %, we get around $30 after months of accumulation.” Or Even $35? Bassii referred to a previous analysis of himself where he emphasized the similarities between the 2024 run and the 2017 cycle. Notably, both periods exhibit five weeks of consecutive green candles, albeit with differing magnitudes—approximately 500% in 2024 compared to 1,200% in 2017. He points out, “2017: 5 weeks of green candles at ~1,200% ^, followed by 3 weeks of red candles down 63%. 2024: Also, 5 weeks of green candles at ~500% up (~1/2 of 2017’s run), followed by… (so far) 1 week of red candles by how much? You guessed it… 30% down.” The subsequent correction phases also mirror each other, with XRP experiencing a 30% decline in 2024 compared to a 63% drop in 2017, each roughly halved in magnitude. Based on this, Bassii outlines potential future movements based on historical patterns, suggesting that if XRP continues to follow these fractal patterns without significant breakdowns, it could accumulate over several months and potentially ascend to $30 by September 2025. Responding to Bassii’s analysis, Bobby A expresses cautious optimism, stating, “Yeah but I’m not sure that the last impulse will come. The next one I’m much more confident in.” Bassii complements this by highlighting the importance of adhering to fractal patterns and real-time chart developments, adding, “I think it will depend on how closely we follow the fractals and what the chart tells us during this upcoming run. So far it’s followed very very closely. The weekly candles for the last 8 weeks have followed beat by beat. I’m not a moon boy, I know how crazy $30-35 sounds. But if we’re still tracking the 2017 run.” At press time, XRP traded at $2.1581. Featured image created with DALL.E, chart from TradingView.com

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Syria’s transitional government is considering legalizing Bitcoin to rebuild its economy, stabilize its currency, and attract global investors after the Assad regime’s collapse. The proposal includes digitizing the Syrian pound on blockchain, legalizing Bitcoin trading and mining, and allowing entrepreneurs to use energy resources for crypto operations. Challenges include international sanctions, technical infrastructure gaps, and…
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Could you Guess the next percentage? submitted by /u/WineMakerBg [link] [comments]

Only 54% of the 1,702 alerts issued by the United Kingdom’s Financial Conduct Authority resulted in illegal crypto ads being taken down.

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In a thread on X, Alistair Milne, the co-founder and Chief Investment Officer (CIO) of the Altana Digital Currency Fund (ADCF), has outlined his Bitcoin predictions for 2025. With a tenure at ADCF dating back to 2014, Milne’s insights carry significant weight in the investment community. Bitcoin Predictions For 2025 Milne began his forecast by addressing the potential involvement of the United States in Bitcoin accumulation. “Some of my 2025 Bitcoin predictions: The big one: Trump won’t announce Bitcoin buying on behalf of the USA in 2025, but he WILL sign an order preventing any seized BTC from being sold … creating a defacto reserve. It will still create global FOMO,” Milne stated. Related Reading: Bitcoin Decline Continues: Is $86,800 The Level To Watch? Thus, Milne predicts that Trump will not follow US Senator Cynthia Lummis’ Bitcoin Act which proposes to buy 1 million BTC over five years. However, Milne thinks that the US under President-elect Trump will keep its 198,109 BTC (according to Arkham data) as national stockpile as promised by Trump during the last Bitcoin Conference in Nashville, potentially sparking fear of missing out (FOMO) globally. Expanding on the international landscape, Milne predicts increased adoption by smaller and more agile nations. “Other, smaller and more nimble nations (in addition to Bhutan and El Salvador) will announce Bitcoin Reserves and start buying or mining before the USA does. Middle Eastern countries will start announcing their holdings,” he noted. Corporate engagement with Bitcoin is also expected to rise. Milne forecasts that at least one other S&P 500 company, meaning not Tesla or MicroStrategy will announce a Bitcoin acquisition in 2025. Related Reading: Warning Signs For Bitcoin? Binance Trading Volume Drops As Sellers Take Control Price projections remain bullish in Milne’s Bitcoin predictions. He anticipates, “Bitcoin should get to around $200-250k, even without the US gov buying. If the US does start buying, expect closer to $500k. Yes, in 2025. This is because it officially becomes a nation state arms race and there isn’t enough Bitcoin.” Milne also addresses market dynamics, predicting that Bitcoin will peak in the second half of the year. While his tip is October, he posits that the bear market will be “significantly milder than the previous ones given nation states and corporations will slowly accumulate.” Addressing concerns related to security and market stability, Milne mentions, “Bitfinex is finally sent back the majority of its hacked BTC … causing a temporary dip in the market as people FUD and say they will dump the Bitcoin (they won’t, they’ll slowly convert 80% of it to LEO over 18 months).” The collapse and subsequent recovery of major exchanges also play a role in Milne’s Bitcoin predictions for 2025. He states, “FTX begins distributing the USD to creditors in Q1, via several large exchanges … making it easy for them to re-invest in Bitcoin, etc.. At least 50% of the money returned will be reinvested.” This influx of reinvested funds is expected to inject liquidity back into the Bitcoin market, fostering a renewed price rally. Milne doesn’t overlook the performance of institutional investors, noting, “MSTR achieves a ‘Bitcoin yield’ of ~30% in 2025 before the premium closes.” Lastly, Milne concludes his Bitcoin predictions with a note to Silk Road founder Ross Ulbricht. On the campaign trail, incoming US president Donald Trump vowed to free Ulbricht. He forecasts that Trump will follow his words: “Ross will be freed.” At press time, BTC traded at $93,070. Featured image created with DALL.E, chart from TradingView.com