In February alone, criminals stole digital funds worth over million from decentralized finance (defi) platforms. The latest Immunefi data shows that hacking attacks accounted for more than million, or 97% of the month’s losses. The Ethereum blockchain suffered the most individual attacks, with 12 incidents representing 85.71% of the total losses across targeted […]
Bitcoin News
Microstrategy to Buy More Bitcoin With Proceeds From $600M Convertible Note Sale
Nasdaq-listed company Microstrategy is planning to sell 0 million in convertible senior notes and use some of the proceeds to buy additional bitcoin. Microstrategy now holds 193K bitcoin. The company’s executive chairman, the pro-bitcoin Michael Saylor, says bitcoin has become the world’s “most popular investment asset.” Microstrategy to Buy More Bitcoin Microstrategy Inc. (Nasdaq: MSTR) […]
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Satoshi’s Growing Fortune, JPMorgan Says Halving Priced in, Peter Brandt Raises BTC Price Target, and More — Week in Review
Bitcoin’s valuation surged past the trillion mark, significantly increasing the net worth of its elusive creator, Satoshi Nakamoto, by nearly billion in two months. JPMorgan Chase analysts have identified the Bitcoin halving event and an upcoming major Ethereum network upgrade as key drivers of cryptocurrency prices. Veteran trader Peter Brandt has revised his […]
Bitcoin News
Pepe Coin Soars Over 250% – Will March Bring More Surprises?
There are lots of surprises during the bull season. Occasionally, during a bull run, coins that have been falling or thought to be dead can rise again, and tokens with defective models can self-correct. In the instance of Pepe Coin (PEPE), which was thought to have lost value and utility but has recently gained attention and is amassing a large number, this is the situation.
With Bitcoin getting close to its peak price and the market rallying, the cryptocurrency space is a flurry of activity. Memes have particularly profited from this renaissance because of their widespread popularity and low cost, which draw in a diverse range of investors.
Pepe Coin Climbs Amid Increased Memecoin Interest
Pepe Coin has stood out in this surge of interest, coming in third place in the meme coin rankings, only behind Shiba Inu (SHIB) and Dogecoin (DOGE). This rise suggests that investors are becoming more interested.
PEPE had a very diverse trajectory and became a billion-dollar asset at periods when there was speculation of a huge trend reversal. The market cap rise of the memecoins was increasing dramatically.
The weekly and daily chart patterns, when analyzed, show consistent growth that might perhaps reach new heights. February saw the start of Pepe’s value climb, which culminated in a 200% spike in just one week.
Today, Pepe reached a top of .0000041, and registered an impressive 255% rally in the weekly timeframe. The coin’s performance was equally notable in the 24-hour timescale, with a nearly 50% gain. The weekly chart shows Pepe’s value is still above the critical resistance level, indicating that the market is confident and that there may be further rises ahead.
The bulls will regain momentum and challenge the price’s upper resistance level of .00000315 if the market pushes the price above the barrier level of .00000280. Additionally, if the bulls maintain their hold on the market, it will rise further and get ready to test its upper boundary of .00000350.
Meme Coin Profits Up
In the meantime, a scenario of note occurred when six prominent wallets made trades and sold approximately 2 trillion $PEPE coins between them. Sales for the transaction totaled about .37 million, while profits came close to an astounding million. Token exchanges of this size demonstrate the extent of market activity around $PEPE during this upswing.
Although lacking the technological sophistication of Ethereum, its merits reside in its active participation by the community and the capacity for social media to go ubiquitous.
Similar to other meme coins, Pepe Coin is subject to significant fluctuations in value due to celebrity endorsements and community sentiment. This renders it a potentially lucrative investment opportunity for individuals adept at navigating the tumultuous realm of internet meme culture.
With Pepe Coin experiencing a remarkable 250% surge, all eyes are on what March holds for this unpredictable cryptocurrency. As investors eagerly anticipate further developments, the question lingers: Will Pepe Coin continue to defy expectations and unveil more surprises in the coming month?
Featured image from Pexels, chart from TradingView.com
Study: Institutions More Bullish on Ethereum in H2 of 2023 — BTC and ETH Holdings Surge to 80%
Between July 2023 and January 2024, the concentration of bitcoin and ethereum in institutional digital asset portfolios increased from 50% to 80%, the latest Bybit user asset allocation report has shown. During this period, institutions appeared to be more bullish on ethereum than bitcoin, a sentiment that contrasted with that of retail investors. Stablecoins and […]
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Bitcoin Price Stuck In Range While ETH Surges, More Downsides Ahead?
Bitcoin price is struggling to clear the ,000 resistance. BTC could start a decent downside correction if it breaks the ,500 support zone.
- Bitcoin price is still struggling to clear the ,000 resistance zone.
- The price is trading below ,600 and the 100 hourly Simple moving average.
- There was a break below a connecting bullish trend line with support at ,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend its current decline and revisit the ,500 support.
Bitcoin Price Faces Resistance At K
Bitcoin price retested the ,500 support zone and even spiked toward ,400. However, the bulls were active near the ,450. A low was formed at ,456 and the price recovered above ,200.
The bears are now protecting an upside break above the ,000 resistance zone. A high is formed at ,936 and the price is now moving lower. There was a break below a connecting bullish trend line with support at ,500 on the hourly chart of the BTC/USD pair.
There was a break below the 23.6% Fib retracement level of the upward move from the ,456 swing low to the ,936 high. Bitcoin is now trading below ,600 and the 100 hourly Simple moving average.
Source: BTCUSD on TradingView.com
Immediate resistance is near the ,600 level. The next key resistance could be ,000, above which the price could rise toward the ,500 resistance zone. The main resistance is now near the ,000 level. A clear move above the ,000 resistance could send the price toward the ,500 resistance. The next resistance could be near the ,200 level.
Another Decline In BTC?
If Bitcoin fails to rise above the ,600 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the ,300 level and the 100 hourly SMA.
The first major support is ,100 or the 50% Fib retracement level of the upward move from the ,456 swing low to the ,936 high. If there is a close below ,100, the price could start a decent pullback. In the stated case, the price could decline toward the ,500 support zone, below which the price might even test ,000.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,100, followed by ,500.
Major Resistance Levels – ,600, ,800, and ,000.
Blackrock Holds 110K BTC, Kiyosaki Expects $100K BTC Soon, AI Crypto Assets Skyrocket, and More — Week in Review
Blackrock has significantly expanded its presence in the digital currency space, accumulating nearly 110,000 bitcoins for its Ishares Bitcoin Trust (IBIT) ETF. Robert Kiyosaki predicts bitcoin will reach 0,000 by June this year. The AI cryptocurrency sector has seen a remarkable surge, with over billion added to its market value in just 17 days. […]
Bitcoin News
Robert Kiyosaki Says If Bitcoin Crashes He Would Be Happy and Buy More
Rich Dad Poor Dad author Robert Kiyosaki has explained what he will do if the price of bitcoin crashes. The famous author has been recommending bitcoin alongside gold and silver for quite some time, and he recently increased his bitcoin holdings following the approval of U.S. spot bitcoin exchange-traded funds (ETFs). Robert Kiyosaki: ‘Sale’ Is […]
Bitcoin News
Filecoin (FIL) Surges Another 9.3%, Are The Bulls Getting Ready For More?
Filecoin (FIL) has been among the top gainers during the current market rally. Throughout February, FIL has shown a formidable performance fueled by the bullish momentum and its partnership with a major blockchain.
This performance has analysts and important crypto actors predicting a potential bullish run around the corner for the decentralized storage network’s native token.
Should Filecoin Investors Get Ready For A Bull Run?
Pseudonym analyst and trader Crypto Breakout highlighted that FIL broke through a crucial resistance in the 3-day timeframe, signaling that the “bulls return with force.” The chart shared by the analyst illustrates a downtrend pattern in FIL’s price since 2022.
Two years ago, as the chart below shows, the token traded at before facing a pullback that shredded about 70% of the token’s value in the following months. By February 2023, the token recovered and broke through the resistance level before repeating a similar downtrend.
Since 2023, the price has remained well below this level, only breaking through the support zone once at the very beginning of 2024. Throughout January, FIL’s price had a turbulent performance, falling around 40%.
The price has picked up the crypto market uptrend, and, as the analyst highlights, it has been gaining positive momentum. The 3-day time frame shows that FIL has been following an upward trend that led to the token breaking through the crucial support zone this Friday.
As the post suggests, this break out of the downtrend could signal FIL’s “beginning of an epic bullish rally” and that investors should “get ready for exciting moves ahead.”
Renowned crypto analyst Ali Martinez made a similar prediction. Earlier this week, Martinez highlighted Filecoin moving within a parallel channel on the 3-day chart. He suggested a successful breakthrough from the .50 barrier could catapult the token’s price to .5.
Artur Hayes Predicts 0 As FIL Continues To Rise
After the token’s recent surge, BitMEX co-founder Arthur Hayes shared his FIL prediction. On an X (former Twitter) post, Hayes forecasted that FIL’s price would rally to 0, also calling the arrival of the bull market.
Welcome to the bull market. May all things AI related levitate. $FIL = 0
Yachtzee pic.twitter.com/oggCeY8IGc
— Arthur Hayes (@CryptoHayes) February 23, 2024
Filecoin, a decentralized storage network, recently integrated with Ethereum’s rival Solana to make its blockchain history more accessible and usable. According to the announcement, the integration is a significant move away from centralized storage solutions, which seek to improve reliability and scalability in the Solana blockchain.
This move has considerably fueled the ongoing upward momentum for FIL. The token has shown a considerable performance in recent weeks, with FIL increasing 53.9% in the last two weeks and 67.7% in 30 days.
The token trades at .19 at writing time, representing a 9.6% surge in 24 hours and 39.0% in the last seven days. FIL is currently the 25th largest cryptocurrency by market capitalization, at .2 billion, a 12.38% increase from yesterday. Its trading activity also saw a recent rise, with its daily trading volume at 5.2 million, 44% more than the day before.
Ethereum (ETH) Price Reaches $3,000 After Two Years, More Excitement To Come?
On Tuesday, Ether (ETH), the second largest cryptocurrency by market capitalization, touched its highest level since April of 2022. Ethereum’s native cryptocurrency momentarily surpassed the ,000 before quickly facing a price pullback.
Ether Briefly Touches The Sky
The whole crypto market has been buzzing with a bullish sentiment in recent weeks after the massive inflows coming into the recently launched Spot Bitcoin ETFs (exchange-traded funds).
Since the approval of Bitcoin ETFs by the US Securities and Exchange Commission (SEC), eyes have moved to the possibility of other spot crypto-based ETFs in other cryptocurrencies like ETH and XRP.
$ETH vs ,000 ( •_•) (•_• ) ( ง )ง ୧( ୧ ) /︶ /︶
— Binance (@binance) February 20, 2024
The speculation surrounding the approval of Ether ETFs in May has been one of several actors fueling the recent price surge. The expectation for the approval and launch of the Bitcoin-based investment products filled the crypto market with positive sentiment on the BTC’s price uptrend.
As previously reported, Options traders expect the cryptocurrency’s price to reach ,000 in the upcoming months. This predicted price range would come closer to the token’s all-time high (ATH) of ,800, seen during the previous market bull run in November 2021.
However, the first test in a journey to ,000 presents as the ,000 resistance level. Analysts have evaluated Ether’s movements as its momentum reignited and considered the ,000 a possible milestone after the digital asset showed a strong resistance in the ,800 support zone.
Today, the second-largest cryptocurrency surpassed this key resistance zone momentarily, an achievement not seen since the end of April 2022. However, Ethereum’s native token could not maintain momentum for long and faced a price pullback to the ,900 level.
JUST IN: Ethereum surpasses ,000
— Watcher.Guru (@WatcherGuru) February 20, 2024
Whales Are pulling In Both Directions
Recent developments in Ether’s price have had many investors express a positive outlook for the second-largest cryptocurrency. Some analysts even made a bullish prediction on the Altcoin market in general.
Whales have also reacted to ETH’s recent uptrend. According to an X post by Spot on Chain, a whale allegedly bought 54,721 ETH at ,845 24 hours before the post. These transactions accounted for approximately 5.7 million and signaled a positive sentiment toward the asset by the large players in the market.
However, a dormant whale who participated in Ethereum’s ICO woke up after 8 years, according to the blockchain analyst platform Lookonchain.
After the price of $ETH surpassed ,000, an #Ethereum ICO participant woke up after 8.6 years of dormancy and deposited 1,732 $ETH(.15M) to #Kraken.
He received 3,465 $ETH(.3M) at #Ethereum Genesis, the ETH ICO price is ~.31.https://t.co/K6xOHILdne pic.twitter.com/o50JKxXxzP
— Lookonchain (@lookonchain) February 20, 2024
The whale seemingly deposited about half of its ETH holdings into Kraken after ETH’s price surpassed ,000. The transaction saw the transfer of 1,732 ETH worth approximately .15 million to the crypto exchange.
This transaction has raised a slight concern over the possibility of a massive sell-off that could affect ETH’s uptrend. Crypto investors now stay alert of large holders trying to offload their assets to profit from the market upsurge.
ETH Price Performance
At the time of writing, ETH is trading at ,923.50, representing a 1.6% decrease in the last hour. Despite this, the price has increased 11.2% in the last week.
More notably, Ether’s daily trading volume has shown a 47.10% increase, at .6 billion in the last 24 hours, suggesting a rise in market activity. Similarly, ETH comfortably maintains its spot as the second-largest cryptocurrency by market capitalization, with a 0.82% increase in the last day, totaling 1.29 billion.