Category: Cryptocurrency News

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These Are The Four Key Bitcoin Price Levels To Watch, Reveals Analyst

An analyst has revealed the four key Bitcoin price levels that could be to keep an eye on, as they may have an influence on the spot price’s trajectory. These Are The Four Key Price Points For Bitcoin In a new post on X, CryptoQuant Netherlands community manager Maartunn has shared four key price levels for Bitcoin. Three of these levels involve some kind of variation of the “realized price” on-chain indicator. The realized price keeps track of the price at which the average investor on the network acquired their coins. In other words, the metric measures the average cost basis of the asset’s user base. Related Reading: BitMEX Whales Buy Bitcoin: What History Says Will Happen Next When the spot price of the cryptocurrency is greater than the realized price, it means that the average holder in the sector can be assumed to be carrying some profits right now. On the other hand, the price being under the indicator implies the market as a whole is underwater some net amount at the moment. Naturally, the price is exactly equal to the metric, suggesting the average holder is just breaking even on their investment currently. Historically, this is the condition that has been of particular importance for the coin, as such retests can flip the profit-loss situation of the investors. Now, here is the chart shared by Maartunn that reveals the trend in the four key Bitcoin price points in question over the last few years: The four historically relevant price levels for the cryptocurrency | Source: @JA_Maartun on X In the above graph, the red colored line (which also happens to have the highest value out of these right now) corresponds to the realized price of the “short-term holders” (STHs). The STHs refer to the investors who bought their coins within the last 155 days. At present, the average cost basis of this cohort stands at $38,750. In bullish periods, this level has often been a point of major support for the asset, and Bitcoin came quite close to retesting it during its latest drawdown. Opposite to the STHs are the “long-term holders” (LTHs), whose realized price is shown by the green curve in the chart. The indicator’s value is only $18,740 for this cohort currently, implying that these HODLers are carrying high amounts of profits. The purple line in the graph represents the “adjusted realized price,” which is a metric that provides a baseline for the market in general. Bitcoin found its bottom back in September when it retested this level. Currently, the indicator’s value stands at $31,190. Related Reading: XRP Whales Are On The Move, What Are They Up To? Close to this line right now is the fourth and final price level pointed out by the analyst, the 200-week moving average (MA), which is at $30,500. 200 weeks is approximately how long the popular 4-year Bitcoin cycle lasts for, so this MA can help reveal the cycle baseline momentum for the coin. Maartunn, in particular, finds this 200-week MA and the adjusted realized price to be the most intriguing levels out of the four listed here. BTC Price Bitcoin had made a visit under the $42,000 level yesterday, but it appears the asset has already bounced back, as it’s now trading above $43,000 again. Looks like the price of the asset has seen some surge over the past day | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, CryptoQuant.com

By The Numbers: How Much Bitcoin Supply Do ETFs Hold?

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Ripple Locks Away 800 Million XRP In Escrow, Impact On Price?

Ripple Labs, a leading American-based payment firm has locked away a substantial amount of XRP tokens in its escrow wallet as part of its monthly unlock program to help bolster its ecosystem and XRP. Ripple Takes Back 800 Million XRP  A recent report from on-chain tracker Whale Alert revealed that Ripple took back about 800 million XRP tokens. This is no surprise, as the stated transaction has been a recurring outcome by the payment firm. The payment firm locked the aforementioned funds after its monthly 1 billion XRP release, which has caught the attention of the crypto space. According to Whale Alert, the firm carried out the transaction in two distinct transfers.  Related Reading: Why Does Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides Answers For the first transaction, Ripple locked away 500 million XRP tokens, valued at $253 million at the time of the report. Data from XRPScan shows that the 500 million XRP were initially transferred from “Ripple 23” to “Ripple 11” wallets before they were locked away. Meanwhile, the second transaction saw 300 million XRP valued at about $151 million being transferred to the company’s escrow wallet. Whale Alert revealed the transaction was carried out by another wallet address identified as “Ripple 10,” according to data from the XRPScan.  The firm has been releasing XRP from its escrow holdings every first day of the month. This process is a component of Ripple’s strategy to regulate the amount of XRP in circulation and uphold stability in the dynamic world of digital assets.  After making up 55% of all XRP supply at first, the escrow accounts now own 40.7% of the supply. This is a result of the progressive unlocking process since it began in December 2017. As of December 2017, the firm held 55 billion XRP as part of the escrow system initiative, which was mostly implemented on the XRP Ledger (XRPL). XRP Whales On Dumping Spree Whale Alert has also detected a substantial dump of XRP on cryptocurrency exchanges (CEXs). Whale Alert reported that over 67 million XRP was observed being moved to Bitso and Bitstamp platforms. Related Reading: XRP Whales Moves $47 Million To Exchange, As Price Dips Further data shows that the unknown wallet address r4wf7enWPx…5XgwHh4Rzn transferred 37.9 million XRP to a Bitso-based wallet address. As of the time of transfer, the funds were valued at approximately $19 million. Later on, 29.7 million XRP was moved to Bitstamp, a Luxemburg-based crypto exchange, in a separate transaction. According to the tracker, the same wallet address carried out the transaction worth about $15 million. This particular wallet address has been carrying out this type of transaction to the CEXs for a while now. It is believed that this might be due to Ripple’s strategic partnership with these centralized exchanges. The price of XRP is still down by over 2% in the past week, trading at $0.505. Its market capitalization is currently up by 2%, but its trading volume has decreased by over 36% in the past 24 hours. Featured image from iStock, chart from Tradingview.com

How To Perform Crypto Analysis: A Beginners Guide

In the rapidly evolving world of cryptocurrency, many enthusiasts and investors are drawn to the potential for high returns. However, with great reward comes great risk. Navigating this volatile landscape requires keen insight, meticulous research, and a deep understanding of both the technology and market forces at play. This is where crypto analysis comes into…
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New to mining would very much value some input.

I’m currently running a single card. MSI RTX 3060 12GB. I’ve looked around at several different coins to mine currently that would be profitable. For example GRIN. I can get my rate up 0.45 g/s. My energy costs where I live aren’t too bad but I’m struggling with being able to determine if any coin…
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Bitcoin Adoption in El Salvador collapses: Businesses no longer accepting Bitcoin

Businesses all over are ditching Bitcoin payments. Super Selectos, El Salvador's top grocery chain, was the last big player accepting Bitcoin with Chivo Wallet and Strike. Now, they only take payments through Chivo, but to pay, you gotta convert your Bitcoins into Salvadoran Tethers (stable coin) first. Restaurants, bars, banks, clothing stores, even tiny shops…
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Crypto for my son

Hey guys, long time lurker, first time poster. I recently welcomed my son into the world and I was wondering if anyone else had a child recently (or not) and endeavored to build a portfolio for them to inherit. I've already opened a brokerage account and RESP in his name to start building traditional financial…
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Week 10 RCC Performance Update!

Good Morning Reddit Community Currency Enthusiasts and others who just randomly read my posts! Hard to believe I've been doing this going on two and a half months now. I hope you're having a wonderful day today! What a wild week in this space with all the goings on! Here we go: Week 9 Post…
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Question regarding supposed eth winning

I'm sure it's a scam, but I was wondering how someone manages to do it. Would I have to connect a wallet and if so could someone be saying I won and take the $20 fee they claim I'd need in a wallet? Sorry, I know it's got to be bogus, supposedly just over 4…
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BTC-e server admin indicted for laundering ransom payments, stolen crypto

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