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Bitcoin News
Bitcoin Bulls On Alert: Top Analyst Anticipates A Big Spike In The Cards
Cryptocurrency enthusiasts are buzzing after renowned analyst Willy Woo ignited the community with a bullish prediction for Bitcoin (BTC). Woo, known for his past forecasting successes, suggests a monumental surge is on the horizon, fueled by a recent development – the long-awaited approval of spot Bitcoin ETFs.
These exchange-traded funds allow traditional investors to gain exposure to Bitcoin without the complexities of directly acquiring and holding the digital asset. Woo believes this will act as a dam breaking, unleashing a torrent of capital into the cryptocurrency.
Bitcoin: Arrival On Major Exchanges Forges Ties With Traditional Markets
The traditional markets hold a staggering 0 trillion, Woo stated on X (formerly Twitter), and with Bitcoin now listed on some of the world’s biggest exchanges, we’re witnessing a bridge being built between these two financial giants.
Jul 2010, BTC was 0.7 cents, it popped 10x in 5 days, then another 1000x 2 years following.
Why?
BTC was introduced to global liquidity with the advent of MtGox.#Bitcoin just got listed on the worlds stock markets which holds ~0T of capital, and they are piling in. pic.twitter.com/m7yxyUudK7
— Willy Woo (@woonomic) March 7, 2024
At the time of writing, Bitcoin was trading at ,182, up 0.5% and 8.4% in the daily and weekly charts, data from Coingecko shows.
He draws parallels between the current scenario and the pivotal moment in 2010 when Bitcoin found its footing on the Mt. Gox exchange platform.
This initial exposure to global liquidity propelled the fledgling digital asset to a tenfold increase within five days, followed by a staggering 1,000x growth over the next two years.
Echoes Of The Past: Will History Repeat Itself?
Woo argues that the current situation presents a similar opportunity, albeit on a much grander scale. He highlights the recent all-time high of ,000 for Bitcoin, followed by a period of stability that suggests resilience in the face of market corrections.
This, coupled with the positive sentiment in the crypto community, paints a picture ripe for a potential boom.
However, while the prospect of replicating Bitcoin’s astronomical rise in 2010 is undeniably alluring, it’s crucial to remember that past performance is not a guarantee of future results.
Technical analysis charts, currently indicating an overbought market, could be overwhelmed by the sheer volume of capital inflow predicted by Woo.
Yet, this scenario is not without its skeptics. Some analysts caution against overenthusiasm, pointing out that the technical indicators might still play a role in determining the price trajectory.
Featured image from Pexels, chart from TradingView
Ex-President Trump Launches Limited Edition Cards on Bitcoin Blockchain via Ordinal Technology
The ex-45th President of the United States has been engaged in the sale of digital trading cards for a considerable period. On Thursday, the official account for the trading card enterprise announced the launch of Trump cards that are crafted using the Bitcoin blockchain’s Ordinal inscription technology. The creators of this venture have stated that a mere 200 units of the Trump Digital Trading Cards Mugshot Edition Bitcoin Ordinals “will ever exist in the world.”
Trump Reveals Exclusive Bitcoin Ordinal Inscribed NFT Trading Cards
Trump’s collectible non-fungible token (NFT) trading cards are set to debut on Bitcoin. This news comes from the official X account, known as ‘Collect Trump Cards,’ which shared this information on Thursday afternoon. “Trump Digital Trading Cards on Bitcoin Ordinals. The first ever Trump Trading Cards on Bitcoin,” the account said. “Great news collectors. When you purchase 100 Trump Digital Trading Cards using crypto (WETH) on collecttrumpcards.com Mugshot Edition, you also get a one-of-one Trump Digital Trading Card. Your one-of-one card will be minted as a Bitcoin Ordinal.”
The announcement comes in the wake of the ex-president’s December 2023 introduction of the new NFTs, where it was revealed that purchasers of 47 Mugshot Edition collectibles would acquire a piece of the suit Trump donned for his mugshot photograph. Subsequently, it emerged that, in the same month he unveiled this new card series, Trump had reportedly sold 1,325 ether, amounting to million. Screenshots of the “congratulations” message, received upon the purchase of 100 cards, have been circulating on social media. This message highlights that Bitcoin Ordinals represent a distinctive method for data embedding.
“Bitcoin Ordinals are a new innovative way to inscribe data, such as art, collectibles, or Trading Cards, onto the Bitcoin blockchain,” the message notes. Donald Trump has expressed mixed opinions about bitcoin in the past. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity,” Trump wrote on July 11, 2019. Suddenly, in December 2022, Trump chose to debut the first collection of collectible NFT cards.
Initially minted on the Polygon blockchain, the NFTs saw their next phase in mid-April 2023 when the former president unveiled his second collection of NFT cards. Trump’s cards consistently provide rewards such as opportunities to have dinner with Trump at Mar-A-Lago or to play golf alongside him. Currently, the website displays images of collectors who have secured some of these coveted prizes. Incorporating the mugshot photograph NFTs into the Bitcoin blockchain as Ordinal inscriptions represents yet another distinctive reward in the series.
What do you think about Trump’s latest move toward minting his digital cards on the Bitcoin blockchain? Share your thoughts and opinions about this subject in the comments section below.
Donald Trump Launches ‘Mugshot Edition’ Digital Cards With Suit Scraps and Gala Dinner Invitations
Former U.S. President Donald Trump has launched a new digital trading card collection, the Mugshot Edition, and this is the first time he is also offering physical cards. Buyers who purchase 47 of these Mugshot Edition cards will receive a scrap of the suit Trump wore for his mugshot photo, along with an invitation to a gala dinner at his Mar-a-Lago home.
Donald Trump’s Mugshot Digital Trading Card Collection
Former U.S. President Donald Trump announced on his social media platform Truth Social Tuesday the launch of his new digital trading card collection, citing the success of his previous non-fungible token (NFT) collections. Trump wrote:
Due to the great excitement and success of my previous Trump digital trading cards, we’re doing it again — The Mugshot Edition, available right now.
“Plus, buy 47 cards and get a piece of the suit I wore for the ‘Mugshot Photo,’ and also get an invite to a gala dinner with me at Mar-a-Lago! Don’t wait, they’ll go fast (I believe!),” Trump emphasized. The former U.S. president is keeping the price of his NFT cards at per card.
In a video accompanying the announcement, Trump explained: “For the first time, we’re creating a real physical Trump card. Purchase 47 digital cards and we will mail you a beautiful trading card. It is an authentic piece of the suit I wore when I took that now-famous mugshot.” He noted that he will be “autographing some of them.”
Trump already launched two non-fungible token (NFT) collections. In December last year, he launched a digital card collection featuring art of his life and career. His second NFT digital card collection was launched in April, which was 19 days after he was indicted with 34 felony counts of allegedly falsifying business records.
In August, Trump’s mugshot photo sparked a surge in sales for his existing digital cards, driving a staggering 426% increase within 24 hours. In July, the former U.S. president revealed in a filing with the Office of Government Ethics that he received more than billion in income from sources including NFT sales.
What do you think about former U.S. President Donald Trump launching the Mugshot Edition of digital trading cards? Let us know in the comments section below.
Is $20 On The Cards? LINK Price Rides High With Chainlink Staking v0.2 Rollout
Chainlink, a widely used distributed computing platform, has recently introduced an upgrade to its staking capabilities.
Known as Staking v0.2, this new version adds an extra layer of security to the network and stands as a key component of Chainlink’s Economic 2.0 strategy.
The anticipated duration for the migration of the protocol for the current v0.1 stakeholders is nine days. Users cannot transfer their staked LINK or the associated rewards to version 0.2 at this time.
According to the most recent data, LINK was trading at a price range of .7 to .9, representing a monthly growth of over 30%. The majority of LINK oscillators exhibit a consistent optimistic bias. The Relative Strength Index (RSI) indicates a possible purchasing opportunity at 50.
#Chainlink Staking v0.2 is officially live on mainnet ⬡
Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins.
— Chainlink (@chainlink) November 28, 2023
Chainlink (LINK) is experiencing an extraordinary quarter, having gained nearly 100 percent since the start of October. At the time of writing, the altcoin had risen as high as 12th among the largest cryptocurrencies by market capitalization.
LINK holders may still have more to look forward to, as on-chain data indicates that the recent ascent of the token has created favorable conditions for the formation of robust support levels. Among these strongest support levels, according to data provider IntoTheBlock, is the region between .15 and .50.
Chainlink: Staking And Migration Advancements
LINK maintains its favorable outlook in spite of the general market volatility that has ensued since the regulatory issues faced by the Binance exchange and the discourse surrounding exchange-traded funds (ETFs).
Whale Transactions Up
With the launch of the v0.2 migration, the industry-leading Oracle network Chainlink has provided stakers with a more flexible staking platform. In addition, it features an adaptive rewards system, enhanced security guarantees, and a modular architecture.
Santiment, a market intelligence platform, reports that whale transactions (see chart below) comprising LINK worth a minimum of 0,000 increased by 1,145% in the previous day, from 176 transactions on November 28 to 2,198 transactions as of the time of writing.
Rapid growth in whale activity is typically associated with increased volatility in an asset. Furthermore, according to data from Santiment, LINK experienced a marginal increase in total open interest (OI) within the last day, rising from 1 million to 3 million.
Eleven months have passed since the protocol’s December 2022 introduction of staking on the Chainlink network. A press statement from Chainlink on November 28th stated that the v0.2 update includes an increase in the amount of the staking pool to 45 million LINK.
The aforementioned figure signifies a 96% growth from the initial allocation of 22.5 million LINK to the staking pool in December, which accounted for 8% of the altcoin’s circulating supply at the time.
LINK Price Analysis: Eyes On The Mark
Meanwhile, with Chainlink’s Staking v0.2 in play, LINK’s value is on the rise, prompting the question: Will it hit ? The excitement is building as investors keep a close eye on the numbers.
The recent boost in LINK’s price has people hopeful about reaching that mark. As the crypto world unfolds, it’s a waiting game to see where LINK’s journey takes us next.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Shutterstock
Coinbase COIN Hits 18-Month High To Rally Near $117 – Is $150 On The Cards?
The price of Bitcoin hit a 2023 high, and Coinbase Global (COIN) shares went through the roof. It looked like the crypto exchange had benefited from Binance’s recent legal problems.
People have noticed that COIN’s price has been doing well in line with the overall good trend in the crypto space led by Bitcoin.
This week, the price of Coinbase stock has been going up quickly because its competitor, Binance, is having some problems with the government.
COIN has been soaring for five days in a row and hit a four-month high of 4.4 as a result. But if you look at the chart for the daily time frame, you can see that this rebound is part of a rising channel. This means that the asset is ready for another surge.
The Nasdaq-listed Coinbase stock reached an 18-month high on Friday. The prices of Ethereum and Bitcoin are also rising.
The price of a COIN share was 5.75 at the time of this writing, up almost 7% in the last 24 hours. It has almost reached 7 per share so far today. Just one month ago, COIN was worth per share, but now it’s worth over 40% more.
According to data provided by on-chain research company CryptoQuant, the US exchange’s bitcoin reserves have recently shot up, while Binance’s have fallen.
Over the past several months, Coinbase has become even more of a major player in the digital currencies sector, even as other companies in the same field have gone out of business.
The exchange’s solid track record has been a key part of its success, especially since it promotes a strong compliance-first approach after rivals like Binance have had major run-ins with the law.
This week, Binance admitted to being guilty of money theft in federal court. The company decided to pay fines of .3 billion, and Changpeng “CZ” Zhao, the founder and CEO, also admitted guilt and said he would resign. The news somehow benefited its rival, Coinbase, as seen from the decent numbers it has so far tallied.
As of November, the price of Coinbase stock has made an impressive rebound, coming back strongly from a psychological support level of . In the last few days, this upward trend has pushed the price of the asset to a remarkable 5, which is a 62% climb.
Based in San Francisco, the Nasdaq has listed Coinbase as a public company since 2021. The last time COIN was worth this much was in May 2022, just before the bubble burst for Terra and most of the digital asset economy crumbled along with it.
Analysts said that the Binance legal ruling could also be good for Coinbase because it could make it easier for US regulators to grant permission for a Bitcoin exchange-traded fund (ETF).
A Bitcoin exchange-traded fund (ETF) is a type of investment trust fund that lets buyers benefit from changes in the price of Bitcoin without actually holding the cryptocurrency itself.
It works like a regular stock on a stock market, helping investors buy and sell shares that give them ownership in the Bitcoin ETF. Bitcoin is what the ETF is based on, and its value is linked to the success of the crypto asset.
Meanwhile, as COIN surges to an 18-month high, nearing the 7 mark, speculation arises about the possibility of it reaching 0. The impressive rally showcases the platform’s resilience and market confidence.
Investors are keenly observing whether this upward momentum will persist, potentially propelling Coinbase to new heights. The crypto community awaits eagerly, anticipating whether COIN will continue its ascent towards the speculated 0 milestone.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Freepik
Cardano November Momentum – An Over 40% Increase In The Cards?
Cardano (ADA) has undoubtedly claimed its spot as one of the frontrunners among the multitude of altcoins. The digital asset, known for its innovative approach to blockchain technology, has witnessed remarkable gains in recent days, leaving both crypto enthusiasts and investors curious about the trajectory it will follow in the coming weeks.
The question that now lingers is, for how long will Cardano’s meteoric rise continue?
To shed light on the potential outcomes for ADA this November, we must delve into its historical performance. Over the past five years, the month of November has held a mix of outcomes for Cardano.
Cardano November Prospects: Up Or Down?
Notably, three years ago, it concluded with an impressive 84% gain, showcasing the coin’s ability to deliver substantial returns during this period.
With this historical context in mind, ADA holders find themselves pondering two potential scenarios for this month: a soaring ascent, with the price surging by 43.5% to reach .41 per token — or a dip, bringing the value down to .279 per ADA.
#Cardano has hit a major dormant coin activity milestone. Monday marked the highest amount of older wallets moving $ADA since April, 2022, indicating more coins are moving back into circulation. 100K-10M $ADA wallets are also accumulating again. https://t.co/TwwQkHZbzA pic.twitter.com/kDjntuV7AS
— Santiment (@santimentfeed) October 31, 2023
Adding to the intrigue surrounding Cardano’s current performance, crypto data analysis firm Santiment has reported a noteworthy development in the behavior of long-time ADA holders.
These investors, often referred to as “whales” in the crypto world, have begun moving the largest amounts of ADA tokens in over a year. This sudden movement raises questions about the intentions behind this significant shift.
Santiment’s observations also highlight that deep-pocketed Cardano holders have been quite active in accumulating ADA tokens recently. In just two weeks, these influential stakeholders acquired nearly 44 million ADA tokens, amounting to approximately .67 million. The aggressive nature of this accumulation raises eyebrows and leads to speculation about the motives behind these strategic moves.
Cardano’s Meteoric Surge
As of the most recent data available, ADA’s price on CoinGecko stands at .305896, reflecting a 6.7% surge in the past 24 hours. Over the past seven days, the cryptocurrency has rallied by 5.5%, further solidifying its status as a top performer in the market.
While the future remains uncertain, Cardano’s recent ascent and the intriguing movements of long-term ADA holders have undoubtedly set the stage for an exciting month ahead.
Investors and enthusiasts will be watching closely to see whether ADA can maintain its momentum or if the market will witness a shift in its fortunes as November unfolds. As always in the crypto world, the only constant is change, and Cardano’s journey is poised to be an eventful one.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from iStock
Bitcoin Price Resumes Rally, Another 5% Increase On The Cards?
Bitcoin price cleared the key ,000 resistance. BTC is showing positive signs and might rally toward the ,200 and ,000 levels in the near term.
- Bitcoin is gaining pace above the ,000 resistance.
- The price is trading above ,000 and the 100 hourly Simple moving average.
- There was a break above a rising channel with resistance at ,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is showing positive signs and might rise toward the ,000 resistance in the near term.
Bitcoin Price Breaks Hurdle
Bitcoin price remained well-bid above the ,000 support zone. BTC formed a base, completed a consolidation phase, and recently started a decent increase above the ,750 resistance.
There was a break above a rising channel with resistance at ,850 on the hourly chart. The bulls were able to pump the price above the last swing high and ,500. It traded to a new multi-week high at ,945 and is still showing positive signs.
Bitcoin is now trading above ,260 and the 100 hourly Simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the ,120 swing low to the ,945 high.
On the upside, immediate resistance is near the ,950 level. The next key resistance could be near ,200. A clear move above the ,200 resistance might open the doors for a decent 5% increase toward the ,000 resistance.
Source: BTCUSD on TradingView.com
The next key resistance could be ,500, above which the price could rise toward ,000. Any more gains might send BTC toward the ,800 level.
Are Dips Limited In BTC?
If Bitcoin fails to rise above the ,950 resistance zone, it could start a downside correction. Immediate support on the downside is near the ,500 level.
The next major support is near the ,000 level or the 50% Fib retracement level of the recent increase from the ,120 swing low to the ,945 high. If there is a move below ,000, there is a risk of more downsides. In the stated case, the price could drop toward the ,500 level or the 100 hourly Simple moving average.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now in the overbought zone.
Major Support Levels – ,500, followed by ,000.
Major Resistance Levels – ,950, ,200, and ,000.
The Dogecoin Advance: A Double-Digit Boost In The Cards?
Dogecoin (DOGE) remains a notable outlier in the cryptocurrency market, as it struggles to replicate the impressive price surges seen in other digital assets. However, all hope is not lost. Despite its lackluster performance, market expert Ali Martinez has offered a glimmer of hope for DOGE enthusiasts.
Martinez’s technical analysis, based on the TD Sequential indicator, has signaled a potential uptrend for Dogecoin. However, investors should approach these predictions with caution, as the market’s volatility remains a significant factor.
#Dogecoin appears ready to start a new uptrend!
The TD Sequential presented a buy signal on $DOGE weekly chart. A sustained close above .062 could result in an upswing to .070. pic.twitter.com/XAGjXHMiOe
— Ali (@ali_charts) October 21, 2023
A Promising Signal For DOGE’s Weekly Chart
In a recent analysis, Ali Martinez dissected Dogecoin’s price movements, highlighting a potential shift in its fortunes. His study pinpointed a promising buy signal on DOGE’s weekly chart, suggesting that the meme coin might be gearing up for an upward trajectory.
The key to this potential breakthrough lies in DOGE’s ability to maintain a close above the .062 mark. If this level is sustained, it could trigger an upswing, propelling Dogecoin to reach .070, according to Martinez’s analysis.
Currently, Dogecoin is valued at approximately .062736, as per CoinGecko. While it has recorded a 3.2% rally over the past 24 hours and a 4.0% surge in the last seven days, it still lags behind other cryptocurrencies that have witnessed more substantial gains during this period.
Bullish Signals And Caution For DOGE Investors
On the flip side, Martinez’s analysis also identifies potential risks for DOGE holders. Should the price of Dogecoin produce a daily candlestick close below the .0582 mark, it could establish a lower low, signaling a bearish trend. This could attract sellers and potentially lead to an 8.90% price drop, pushing DOGE down to .0550.
Investors are urged to exercise caution as they navigate the volatile world of cryptocurrencies. While the weekend shows a bullish outlook for Dogecoin, it’s important to keep in mind that the start of a new week can reset existing market biases. With the crypto space constantly in flux, adopting a balanced and measured approach is imperative for those seeking to navigate the tumultuous terrain of digital assets.
Dogecoin’s recent performance, while not as remarkable as other cryptocurrencies, has sparked optimism among some analysts like Ali Martinez. His technical analysis indicates the possibility of an upward trajectory if DOGE can maintain its position above the .062 mark.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from MoneyControl
Binance to Sunset Visa Crypto Card as 2023 Sees Decline in Digital Debit Cards
Several reports have revealed that Binance, which is recognized as the leading crypto exchange by trading volume, intends to discontinue its Visa crypto card on December 20, 2023. The enterprise emphasized that only a “small number of Binance users” would be affected by this development.
Binance to Discontinue Visa Offering by Year’s End
In 2023, crypto debit cards have been falling out of favor rapidly, triggered in part by a series of bankruptcies that ignited a crypto bear market. Back in March, Bitpay in the U.S. phased out its prepaid Mastercard program, although it assured users of a renewed card service on the horizon. However, this week, holders of the Binance Visa card were informed via email that the card would cease to be functional by the close of the year.
The email communicated that the Binance Visa card would become non-operational post-December 20, 2023. The Binance Visa, which was available to users in Europe, was utilized by individuals across various countries including Austria, Belgium, Bulgaria, Croatia, France, the Czech Republic, and Finland, among others. Binance has suggested that cardholders can switch to Binance Pay for their shopping needs, provided the service is accessible in their region.
The email also clarified that, despite the changes, Binance accounts would remain unaffected and continue to operate as usual. A lively discussion about the Binance Visa card issue has taken place on social media. “Binance shutting down their Visa card,” one person said. “The [Gnosis Pay] card cannot come soon enough! wen shipping?” Another user expressed indifference towards the shutdown, expressing a preference for the Crypto.com Visa card instead.
What do you think about Binance shutting down its Visa service? Share your thoughts and opinions about this subject in the comments section below.