Category: Cryptocurrency News

StarsArena announced that attackers were draining funds through a loophole, but the contract has been patched to prevent further damage.

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Two weeks ago, crypto analyst Tolberti made headlines for his incredibly bullish Bitcoin price outlook. The analyst is back again with another prediction and this time around, he is telling investors to get into the market with reasons to back it up. Last Chance To Buy BTC In a recent post on Tradingview, crypto analyst Tolberti sounded a warning alarm that this is the last chance for investors to buy Bitcoin. The reason for this, according to Tolberti, is that the Bitcoin price is headed toward a massive rally. Related Reading: How Have Ethereum Futures ETFs Fared So Far? Data Reveals Shocking Numbers Tolberti points to bulls having successfully broken through a major descending trend line which he points out on the BTC 12-hour chat. The analyst explains that this is the last chance to buy Bitcoin at this low price given that “This trendline has been destroyed by the bulls, and we also had a successful retest of it!” As for where the Bitcoin price is headed, Tolberti believes that it will hit $39,000 toward the end of 2023. However, he warns that this is not going to be smooth sailing with resistance already at $29,167 where the 0.618 Fibonacci has been established in the previous wave. BTC price chart to $39,000 | Source: Tradingview.com On the longer time frame, using the Elliot Wave pattern, the analyst puts a “strong nest (1-2-1-2) or an expanding leading diagonal wedge (1-2-3-4-5).” at the $24,900-$28,500 range. “Both of them are bullish patterns and support the start of the bull market!” Tolberti explained further. However, the analyst expects the Bitcoin price to perform poorly at the start of 2024. “I am prepared for the bull market that is coming in the next few weeks until January,” Tolberti said. “Expect January to be a bearish month.” Where Is Bitcoin Price Headed? Tolbert’s most recent Bitcoin price prediction focuses more on the short term for the last three months of the year. But his previous predictions give a more clear view of where he expects the price to reach, especially during a bull market. Related Reading: Pro-Bitcoin Presidential Candidate Wants To Save BTC From The White House In September, the crypto analyst posted an analysis in which he put the Bitcoin price as high as $130,000 by 2025. The chart showed a rise to the $80,000 level before a 30% retracement. After this, another bounce puts the price in the $130,000 range. While Tolberti sees a bullish move for Bitcoin, Bloomberg analyst Mike McGlone expects that BTC will fall back to $10,000. McGlone does not see a bullish fourth quarter for Bitcoin, and coupled with rising interest rates, the analyst expects more of a decline. BTC price at $28,000 | Source: BTCUSD on Tradingview.com Featured image from Nairametrics, chart from Tradingview.com

A survey from crypto exchange Bitget featured more than 1,500 respondents across 20 countries.

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Bitcoin bulls struggle to top their highs from the start of the week, while BTC price forecasts diverge over what could be next.

On-chain data shows the trading volumes of XRP and Polygon have hit monthly highs as investors are displaying FOMO towards the assets. XRP, Polygon See Volume Spike Similar To Bitcoin’s Surge A Few Days Back According to data from the on-chain analytics firm Santiment, XRP & MATIC have seen high volumes recently. The “trading volume” here refers to the total amount of any cryptocurrency that’s being transacted on the different exchanges in the sector every day. When the value of this metric is high, it means that the asset in question is being moved around a lot on the exchanges. Such a trend implies that traders are actively participating in the market right now. On the other hand, low values suggest the interest in the cryptocurrency may be low at the moment as not much trading activity related to it is happening on the platforms. Related Reading: Here’s The Level Bitcoin Must Conquer If Rally Has To Return Now, here is a chart that shows the trend in this indicator for XRP, Polygon, and Bitcoin over the past month or so: Looks like the value of the metric has been quite high in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin trading volume had become pretty high a few days back when the asset’s price had surged toward the $28,500 mark. This spike in the volume had come with a delay, however, as its peak had occurred after the cryptocurrency had already started on its pullback. This could be a sign that once investors saw the rally, they felt like they had to FOMO in, so they quickly made some trades, but many of these investors had arrived late to the scene, hence why the spike had come later. The volume would have also been fueled by the panic sellers who bought at the top but sold as soon as they saw that the rally was already starting to cool down. During the past couple of days, XRP and Polygon have also seen some recovery surges (although the rises haven’t been anything too impressive) and the trading volume has also shown similar spikes for these cryptocurrencies as well. At the peak of this latest surge, the volume of these cryptocurrencies had managed to hit its highest level in about a month. “FOMO is high right now,” notes Santiment. Related Reading: These Are The Altcoins To Keep An Eye On: Santiment It would appear that just like with BTC, investors had started jumping on these cryptocurrencies once they saw the rally. Those falling for FOMO, however, would have once again faced disappointment, as both XRP and MATIC have already retraced their latest recovery attempts. If the trading volume continues to stay high even after the pullback, though, then it would be a positive sign for the prices of these altcoins, as it would mean that there is still significant demand for them at these lower price levels. XRP Price In its latest recovery rally, XRP had managed to rise near the $0.55 mark, but with the pullback since then, the cryptocurrency has dropped toward the $0.52 level. XRP has declined since its rise two days ago | Source: XRPUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net

Macro factors will play a dominant role in sparking the next crypto bull market, which should start in Q2 2024, according to Raoul Pal.

Adam Yedidia, a former developer at FTX, testified regarding his knowledge of the crypto exchange’s use of funds, claiming “Alameda had used customer deposits to pay its loans”.