Elizabeth Stark, CEO of Lightning Labs, stated that tokenized assets, such as stablecoins, are next to appear on top of the lightning network (LN), Bitcoin’s layer two scaling protocol. Stark highlighted the transformative possibilities of this upgrade, stressing that it would allow users to complete stablecoin payments leveraging affordable LN transaction fees. Lightning Labs CEO […]
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Robert Kiyosaki Advises Preparing for Depression — ‘For Years I Could See This Crisis Coming’
Rich Dad Poor Dad author Robert Kiyosaki has advised preparing for an economic depression. He emphasized the importance of being ready for the worst, cautioning against the complacency prevalent among many who prefer to “live in Disneyland.” He added that he could see this crisis coming for years, which is why he has adopted a […]
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Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target
Shiba Inu has rebounded by over 19% from its .00002081 price point at the beginning of the month. Current price action shows the cryptocurrency might be on its way to performing an interesting price surge in the coming weeks. According to one crypto analyst, SHIB could actually go on a 120% price surge after breaking out of the current consolidation.
Crypto Analyst Says Massive Surge Coming
SHIB kickstarted a price correction immediately after reaching 0.00003556 in early March. Bullish investor sentiment surrounding the meme cryptocurrency at the time quickly changed into a bearish one. This pushed SHIB on a decline that bottomed out at .00002117 in the middle of April, indicating a 40% price correction in those two months. Interestingly, this was the worst SHIB price decline since the May 2022 collapse of the Terra ecosystem.
Related Reading: Why Did The Solana (SOL) Price Jump Today?
As noted on the 8-hour timeframe chart shared on social media platform X by crypto analyst World Of Charts, SHIB has been on a consolidation channel for the past two months. However, the analyst foresees a bullish breakout to create a strong bullish wave that’s going to send SHIB holders on a profit margin between 100% and 120%.
Consolidating In Bullish Flag In H8 Timeframe Incase Of Successful Breakout Expecting Solid Bullish Wave Expecting 100-120% Bullish Wave#Crypto #Shib pic.twitter.com/vfLClaexvu
— World Of Charts (@WorldOfCharts1) May 3, 2024
Interestingly, a further look into the chart shared by World Of Charts shows that the analyst is open to a higher price surge over a longer period of time. The last price target indicated on the chart is .00009500, which is a 280% target from the current price levels.
Can Shiba Inu Push Higher?
Shiba Inu recently formed a higher low on the weekly timeframe, an indicator that the bulls might be starting to gain the upper hand. Despite the past decline, over 56% of SHIB holders remained in profit as many long-term holders opted to hold on to their tokens. At the time of writing, SHIB is trading at .00002489 and is up by 6.4% in the past seven days. This price increase has seen the number of SHIB holders in profit rising concurrently to 61%.
Related Reading: Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here
Many addresses that just moved into profit margin are not taking profit indicating that majority of investors are anticipating a price increase in May. One catalyst that could lead to a further price increase is the recent partnership between PayPal and MoonPay which will allow PayPal users within the United States to buy the dog-themed cryptocurrency easily.
Popular crypto analyst Ali Martinez also predicted a SHIB price surge based on a bull flag that has recently appeared on the token’s price chart.
Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Here’s The Target
Shiba Inu has rebounded by over 19% from its .00002081 price point at the beginning of the month. Current price action shows the cryptocurrency might be on its way to performing an interesting price surge in the coming weeks. According to one crypto analyst, SHIB could actually go on a 120% price surge after breaking out of the current consolidation.
Crypto Analyst Says Massive Surge Coming
SHIB kickstarted a price correction immediately after reaching 0.00003556 in early March. Bullish investor sentiment surrounding the meme cryptocurrency at the time quickly changed into a bearish one. This pushed SHIB on a decline that bottomed out at .00002117 in the middle of April, indicating a 40% price correction in those two months. Interestingly, this was the worst SHIB price decline since the May 2022 collapse of the Terra ecosystem.
Related Reading: Why Did The Solana (SOL) Price Jump Today?
As noted on the 8-hour timeframe chart shared on social media platform X by crypto analyst World Of Charts, SHIB has been on a consolidation channel for the past two months. However, the analyst foresees a bullish breakout to create a strong bullish wave that’s going to send SHIB holders on a profit margin between 100% and 120%.
Consolidating In Bullish Flag In H8 Timeframe Incase Of Successful Breakout Expecting Solid Bullish Wave Expecting 100-120% Bullish Wave#Crypto #Shib pic.twitter.com/vfLClaexvu
— World Of Charts (@WorldOfCharts1) May 3, 2024
Interestingly, a further look into the chart shared by World Of Charts shows that the analyst is open to a higher price surge over a longer period of time. The last price target indicated on the chart is .00009500, which is a 280% target from the current price levels.
Can Shiba Inu Push Higher?
Shiba Inu recently formed a higher low on the weekly timeframe, an indicator that the bulls might be starting to gain the upper hand. Despite the past decline, over 56% of SHIB holders remained in profit as many long-term holders opted to hold on to their tokens. At the time of writing, SHIB is trading at .00002489 and is up by 6.4% in the past seven days. This price increase has seen the number of SHIB holders in profit rising concurrently to 61%.
Related Reading: Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here
Many addresses that just moved into profit margin are not taking profit indicating that majority of investors are anticipating a price increase in May. One catalyst that could lead to a further price increase is the recent partnership between PayPal and MoonPay which will allow PayPal users within the United States to buy the dog-themed cryptocurrency easily.
Popular crypto analyst Ali Martinez also predicted a SHIB price surge based on a bull flag that has recently appeared on the token’s price chart.
The Cardano $1 Dream: Is A Price Explosion Coming Or Just Deja Vu?
Cardano (ADA), the tenth largest cryptocurrency by market capitalization, has been a rollercoaster ride for investors in recent months. After a steep price decline in March, ADA has seen a minor uptick, leaving analysts divided on its future trajectory. Could a repeat of a historical price pattern propel ADA to new heights in 2024, or are there warning signs lurking beneath the surface?
Cardano Mimics 2020: Bullish Echo Or False Hope?
Hopeful investors are clinging to a familiar chart pattern. According to popular crypto analyst Milkybull, ADA’s price movement appears to be mirroring its action in 2020. Back then, an “Adam and Eve” double bottom pattern preceded a significant price surge. If history rhymes, a breakout from this pattern could see ADA revisit its all-time high this year.
It’s following the same path of 2020 that initiated an explosive rally. pic.twitter.com/rI5FDzcn4P
— Mikybull Crypto (@MikybullCrypto) April 21, 2024
However, historical comparisons are a double-edged sword. While past trends can offer some insight, blindly relying on them can be misleading, especially in the ever-evolving cryptocurrency market.
Technical Indicators Flash Green, But Network Activity Sputters
Technical indicators often used to gauge market sentiment seem to be painting a bullish picture for Cardano. The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) are both trending upwards, suggesting a potential price increase.
Meanwhile, a crucial metric paints a contrasting picture. Cardano’s daily active addresses, which reflect the number of unique users interacting with the network, have dipped slightly in the past few days. This decline in network activity could be a cause for concern, as it might indicate dwindling user interest in the Cardano ecosystem.
Cardano’s Future: A Balancing Act
The outlook for Cardano remains uncertain. While the potential for a bull run based on historical patterns and bullish technical indicators exists, the decline in network activity raises questions about its long-term sustainability. Investors should carefully consider these conflicting signals before making any investment decisions.
Further developments within the Cardano ecosystem, such as the successful rollout of smart contracts or increased adoption of decentralized applications (dApps) built on the Cardano blockchain, could significantly impact its price.
Additionally, the overall performance of the broader cryptocurrency market will also play a role in determining ADA’s future trajectory.
Featured image from Pexels, chart from TradingView
Ripple Vs. SEC Update: Is The Lawsuit Finally Coming To An End With A Settlement?
The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws.
Ripple Proposes Million Fine Instead
In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of ,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales.
Specifically, the SEC proposed that Ripple pay a civil penalty of 6,308,712 alongside a prejudgment interest of 8,150,940 and disgorgement of 6,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than million.
Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.”
Therefore, Ripple argued that the Commission’s request for a civil penalty of over 6 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than million more appropriate.
Accounting Error From The SEC
Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.”
Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost billion was an appropriate fine.
Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.”
Ripple Also Opposes SEC’s Proposed Injunction
As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction.
The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.”
The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations.
‘More Upside Is Coming’: Crypto Market Set For 350% Growth, Predicts Glassnode Cofounders
Negentropic, the official X (formerly Twitter) account of Glassnode’s cofounders, has offered its own bullish sentiment for the crypto market.
Glassnode Cofounders: There Would Be A Massive Growth Beyond Recent Corrections
According to their analysis, the market, excluding the top 10 cryptocurrencies, known as “OTHERS,” is showing signs of a strong uptrend with the potential for “more upside” growth.
This observation amidst increased volatility and uncertainty following the recent Bitcoin Halving event on April 20 reduced miners’ block subsidy rewards from 6.25 BTC to 3.125 BTC.
The cofounders pointed out an intriguing pattern in the market’s behavior, comparing the current conditions to the “strong correction” seen in early 2021, which they identified as “wave 4” in the market cycle.
The #Crypto Bull Market Continues.
“OTHERS” follows Crypto excl. the largest 10 Cryptos.
Observe that we in early 2021 had a strong correction. We believe that was a wave 4.
We now have a similar strong decline.More upside is coming. This index and our Fibonacci levels… pic.twitter.com/qKtIOSXneP
— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) April 22, 2024
Using their index and Fibonacci levels, Glassnode’s cofounders anticipate approximately a 350% increase from the current market levels, noting:
More upside is coming. This index and our Fibonacci levels gives us, that we may see ~350% upside from current levels.
Notably, this bullish projection underscores their confidence in the potential for further market expansion despite recent downturns.
Crypto Market Recovery Amid Bitcoin Criticism And Post-Halving Predictions
While the Glassnode Co-founders have predicted significant growth for the crypto market, it’s important to note that the overall market sentiment remains bullish. After a notable decline last week, the global crypto market is showing signs of recovery, with nearly a 3% increase in the past 24 hours.
This upward movement can be attributed to major cryptocurrencies like Bitcoin and Ethereum, which have seen gains of 2.7% and 1.7% over the same period.
Bitcoin, the flagship cryptocurrency, has recently faced criticism from prominent figures like Peter Schiff, who criticized its high transaction fees and longer processing times.
The cost to complete a #Bitcoin transaction is now 8 and it takes a half hour to process. This is another reason why Bitcoin can’t function as a digital currency. The cost to actually use Bitcoin as a currency is prohibitively high for almost all transactions. It’s a failure.
— Peter Schiff (@PeterSchiff) April 22, 2024
Due to these challenges, Schiff labeled Bitcoin as a “failure” in terms of digital currency. However, it’s worth noting that Bitcoin’s average transaction fee has significantly decreased to .86 on April 21, following a record high of 8.45 the day before.
Meanwhile, analyst and founder of the Capriole Investment fund Charles Edwards has shared three possible scenarios for Bitcoin after the Halving.
Edwards highlighted the increase in Bitcoin’s electrical cost to ,400 per new BTC coin produced, while the overall miner price, including block rewards and fees, surged to 4,000.
He predicts that Bitcoin’s price may skyrocket, approximately 15% of miners may shut down their operations, or transaction fees will remain elevated. Edwards expects a combination of these scenarios to unfold, ultimately leading to Bitcoin’s price surpassing 0,000.
Featured image from Unsplash, Chart from TradingView
Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks
An analyst has explained how a pattern forming in the Dogecoin price may suggest a rally to , if historical trend repeats this time as well.
Dogecoin 1-Week Price Appears To Be Forming A Classic Pattern
In a new post on X, analyst Ali has discussed how DOGE seems to have been showing a classic pattern in its weekly price once again. This trend involves a technical analysis (TA) pattern called the “Descending Triangle,” which, as its name suggests, is shaped like a triangle.
The pattern involves two trendlines between which the price of the asset consolidates; one of these is a line slopped downwards while the other is parallel to the time-axis. This property of the price converging downwards as it goes through the pattern is why it has descending in its name.
Like other TA consolidation patterns, the upper line of the Descending Triangle also provides resistance to the commodity, making tops more probable to form at it. Similarly, the lower line acts as a point of support and can help the price reverse back upwards.
A break out of either of these lines may result in a continuation of the trend in that direction. This means that a break above the triangle can be a bullish signal, while one below could suggest the dominance of bearish momentum.
Similar to the Descending Triangle, there is also an Ascending Triangle in TA, which works much like it, except for the fact that the parallel axis makes the upper line, connecting together tops, while the lower line ascends up as it joins higher lows.
Now, here is the chart shared by Ali that highlights a pattern that DOGE’s 7-day price has been forming recently:
From the graph, it’s visible that the Dogecoin 1-week price had been trading inside a long Descending Triangle between 2021 and this year, but the meme coin found a break earlier and has since registered some notable uplift.
Recently, though, the cryptocurrency has reached a stage of sideways movement. This, however, may not entirely be a bad thing, as DOGE has also seen a similar trend of a Descending Triangle break followed by consolidation in the past as well.
As is visible in the chart, the previous two such formations led to Dogecoin witnessing some very significant growth. As such, the latest one may also prove to be bullish, if this historical pattern continues to hold.
“Based on past trends, we might just see DOGE rocket towards in the coming weeks!” explains Ali. From the current spot price, such a potential rally would mean a growth of a whopping 525% for the coin.
DOGE Price
Dogecoin’s price action has been quite stale since the price plunge earlier in the month, as the asset’s price is still trading around .16.
Halving Hype Lifts Litecoin: Analyst Sees 400% Price Increase Coming
Litecoin (LTC), the digital currency often dubbed “silver to Bitcoin’s gold,” has been stirring in the shadows of its flashier counterpart. Despite a recent price dip from 2 to , analysts see glimmers of a potential surge in the coming months.
This renewed optimism follows Litecoin’s defiance during the highly anticipated Bitcoin halving event, where Bitcoin’s block rewards were cut in half, impacting the entire crypto market.
Litecoin Exhibits Resilience After Price Dip
While some cryptocurrencies floundered after the Bitcoin halving, Litecoin displayed surprising resilience. This, coupled with a recent uptick in trading volume reaching 6 million over 24 hours, suggests a growing interest in LTC.
The cryptocurrency currently sits at a market capitalization of .18 billion, solidifying its position as a top contender.
Technical Breakout Hints At Bullish Future For Litecoin
Technical analysts are particularly enthusiastic about a recent development for Litecoin. The digital currency appears to be breaking out of a multi-year symmetrical triangle pattern.
This technical indicator often signifies a shift in market dynamics and underlying strength within an asset’s structure. While a retest of the pattern is underway, a successful breakout could be a major turning point for LTC.
A well-known person in the crypto analytical world, World of Charts, has taken advantage of this technical advancement and made a daring prediction for Litecoin.
$Ltc#Ltc Showing Strength In Recent Days Also btc Halving Completed Its Massive Event For Crypto Markets Ltc Recently Breaks Multi-year Symmetrical Triangle & Retesting It Still Expecting 300-400% Bullish Wave In Midterm Incase Of Successful Breakout pic.twitter.com/toOgtjQ6jZ
— World Of Charts (@WorldOfCharts1) April 20, 2024
Their prediction depends on how well the present breakout goes. World of Charts forecasts an incredible “middle bullish wave” for LTC if it can continue to gain strength and break free of the triangular pattern. This might result in a possible increase of 300–400% over the course of the next few months.
Experts Remain Cautious Despite Optimism
The cryptocurrency market, however, remains a land of unpredictable twists and turns. While analyst predictions like World of Charts’ are certainly attention-grabbing, industry experts urge caution. The inherent volatility of the market means even well-supported forecasts can be thrown off course by unforeseen events.
Furthermore, some analysts point out that Litecoin faces competition from newer, faster-growing altcoins vying for investor attention.
Whether LTC can recapture its past glory and establish itself as a true silver lining in the ever-evolving crypto market landscape remains to be seen.
The Road Ahead For Litecoin
The coming months will be crucial for Litecoin. A successful breakout from the symmetrical triangle pattern, coupled with sustained investor interest and trading activity, could propel LTC towards a significant price increase.
Featured image from Pixabay, chart from TradingView
Privacy Token ZANO Now on Bitcoin.Com’s Verse DEX, Coming Soon to Bitcoin.com Wallet App
Integration signals a new era of privacy-focused digital transactions in the world’s leading self-custody cryptocurrency solution Dubai, UAE – Bitcoin.com’s decentralized exchange Verse DEX has launched a new liquidity pool, wZANO-USDT. This is a first step towards integrating the privacy-focused ZANO token to the broader Bitcoin.com ecosystem. Support for ZANO is coming soon to the […]
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