Claims against Mirror Trading International (MTI) have reached over .5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around .7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals made by those who profited from the scheme. MTI […]
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Hulk Hogan’s X Posts Vanish After HULK Meme Token’s Sharp Rise and Fall
A new meme token, hulkmania (HULK), has recently entered the dynamic world of meme coins. It appears to have garnered attention from the legendary wrestler Hulk Hogan’s X account, which referenced it on the social media platform. However, the post on the @hulkhogan X account has been deleted, raising the possibility that his account may […]
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Can Bitcoin Rise 150% From Here? Crypto Expert Peter Brandt Predicts The Top
Despite the Bitcoin decline below the ,000 price mark, a crypto analyst still maintains an optimistic outlook for the pioneer cryptocurrency, predicting that the price of Bitcoin could reach its top soon.
Analyst Says Bitcoin’s Top Is 0,000
On June 2, crypto analyst, Peter Brandt released a blog post predicting Bitcoin’s top in the current bull cycle. According to Brandt, the price of Bitcoin is expected to witness an exponential surge between the range of 0,000 to 0,000.
Brandt foresees Bitcoin’s peak to occur in 2025 between late August and early September. The analyst has based his predictions on the cryptocurrency’s previous halving dates, highlighting that this cyclical event tends to continually present an “almost perfect symmetry within past bull market cycles.”
The Bitcoin halving is a four-year cycle event which cuts mining rewards by half, thereby reducing supply and potentially driving up the price due to increased scarcity and heightened demand for the cryptocurrency.
Brandt has suggested a possible correlation
between Bitcoin’s bull runs in the past with the onset of its halving cycle, emphasizing that following each halving year, Bitcoin has witnessed a surge to new all-time highs. More specifically, he pointed out that the number of weeks from Bitcoin’s market bottom to the halving dates was nearly the same duration as the halving dates to the next bull market peak.
In his blog post, Brandt shared a price chart depicting Bitcoin’s price movements from 2010 to 2025, highlighting the cryptocurrency’s past performances after the halving events. The crypto analyst emphasized that after the halving event in 2012, and 2016, Bitcoin witnessed a significant bull run which pushed its price to new all-time highs.
The most notable bull cycle was seen in 2021 which came after the May 2020 halving event, with Bitcoin’s price surging to a previous all-time high of around ,044. Based on this recurring pattern, Brandt’s optimistic prediction sees Bitcoin potentially reaching as high as 0,000 in the next bull market.
25% Probability That Bitcoin Has Topped For This Cycle
While expressing his bullish outlook for Bitcoin, Brandt also disclosed a more pessimistic assessment of the cryptocurrency’s future price. The analyst has placed a 25% probability that Bitcoin has topped this bull market cycle.
This assessment is based on Bitcoin’s massive rally earlier this year, spurred on by the approval and launch of Spot Bitcoin ETFs. In March 2024, the price of Bitcoin surpassed its previous 2021 high, exceeding ,000 and officially marking a new all-time high.
Following historical trends, Bitcoin typically witnesses a bull rally to new all-time highs after its halving event. However, against the norms, the cryptocurrency experienced a peak above ,000 before its halving event on April 20.
Brandt has disclosed that if Bitcoin fails to reach a new all-time high after its halving event, he expects a price decline towards ,000. The analyst predicts that a drop below ,000 will raise the probability of “Exponential Decay,” implying a long-term downward trend for the cryptocurrency.
Crypto Analyst Says Bitcoin Will Rise To $79,600 If This Holds
An analyst has explained how Bitcoin will “likely rise to test” the ,600 level if BTC can hold above this important level of a pricing model.
Next Bitcoin MVRV Pricing Band Is Currently Valued At ,600
In a new post on X, analyst Ali Martinez has talked about where BTC’s next destination could be based on an on-chain pricing model. The model uses the popular “Market Value to Realized Value” (MVRV) indicator.
This metric tells us how the value that the Bitcoin investors hold right now (that is, the market cap) compares against what they put in (the realized cap).
When the value of this indicator is greater than 1, it means that the holders as a whole are carrying a value higher than their initial investment; that is, they are in net profits. On the other hand, the MVRV being less than this threshold implies that the overall market is underwater at the moment.
There are a couple of pricing models based on this metric, but in the context of the current discussion, the “MVRV extreme deviation pricing bands” are of interest.
This model’s standard deviations around the MVRV mean signify the relevant price levels. Below is a chart that shows how these levels currently look for Bitcoin.
As the graph shows, Bitcoin is currently trading above the +0.5σ pricing band. At the price level corresponding to this 0.5σ level (,800 right now), BTC’s MVRV value becomes 0.5 standard deviations above its mean value.
According to this model, the next level of interest is the +1σ, where the MVRV is 1 standard deviation over its mean. The price level at which the MVRV ratio would satisfy this condition is ,600.
Historically, tops in the cryptocurrency have tended to form when the price breaches past this MVRV pricing band level. From the chart, it’s visible that BTC surpassed this level earlier in the year when it set its new all-time high, which continues to be the peak of the rally so far.
Ali suggests that if Bitcoin can continue to hold above ,800 (the +0.5σ pricing band level), the asset will “likely rise to test the 1.0σ pricing band at ,600.” A potential rally to this level would imply an increase of more than 14% for BTC from its current price.
Why do tops tend to be more probable to happen above the +1σ MVRV pricing band? The reason could lie in the fact that when the MVRV attains values this high, the investors are holding considerable profits, so they are more likely to participate in a mass selloff.
BTC Price
Bitcoin witnessed a retest of the +0.5σ pricing band earlier, but the level has continued to hold so far, as the coin has rebounded to ,500 since then.
Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin
A crypto analyst has highlighted the Chainlink remarkable resilience amidst market volatility, predicting that the cryptocurrency is getting ready to witness a 300% surge against Bitcoin, the world’s largest cryptocurrency.
Chainlink Poised For 300% Increase Against Bitcoin
Chainlink, a decentralized blockchain oracle network has been gaining traction recently, bolstered by the innovative developments within its ecosystem. Popular crypto analyst, Michael van de Poppe has expressed optimism about Chainlink’s native token, LINK, predicting a major bull rally for the cryptocurrency.
Sharing a price chart depicting Chainlink (LINK)/ Bitcoin (BTC) price movements from 2021 to 2025, Poppe forecasted in an X (formerly Twitter) post that LINK is on track to witness an exponential increase between 150% to 300% against BTC.
As of writing, the price of Bitcoin is trading at ,623, according to CoinMarketCap. The cryptocurrency has fallen below key support levels of around ,000 and reflects a slight decline of 1.05% in the last 24 hours.
Poppe has revealed that he would not be surprised if Chainlink reaches this price milestone, underscoring his confidence in the cryptocurrency’s price fundamentals and future potential compared to Bitcoin. In the chart analysis, the crypto analyst pinpointed a critical resistance level for LINK/BTC around .000448, indicating that this point could trigger strong breakouts upward for Chainlink.
In an earlier post, Poppe identified Chainlink’s next resistance zone at , predicting that the cryptocurrency could see its price trading between and in the coming months. For this to happen, the crypto analyst explained that Chainlink will have to establish a higher low on the weekly time frame.
Poppe’s optimistic outlook on Chainlink comes after the blockchain platform has initiated several strategic partnerships. Chainlink has collaborated with Circle, a peer-to-peer payments company, to expand developer usage of USDC and Euro Coin (EURC). Additionally, the blockchain platform recently allied with SWIFT, an interbank messaging system, to accelerate the adoption of Distributed Ledger Technology (DLT).
These innovative developments may serve as a catalyst for a potential price increase for the cryptocurrency, driven by enhanced network utility and increased adoption from new users.
LINK Price Update
Amidst broader market conditions, Chainlink has been performing better than expected, experiencing consistent price increases since the beginning of the year. Over the past month, Chainlink has risen by 45.01%, underscoring the cryptocurrency’s growing demand and interest from investors.
CoinMarketCap’s data has also shown that Chainlink has surged by 3.32% in the last 24 hours and 7.79% over the past week. This bullish performance can be said to be attributed to Chainlink’s ongoing development initiatives in its ecosystem alongside the recent approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).
As of writing, the price of Chainlink is trading at .53, reflecting a 24-hour increase of 14.86% in its daily trading volume.
Can BONK Break The Mold? Analyst Predicts Stellar Rise For The Solana Memecoin
The meme coin market is back in the spotlight, and BONK is no exception. The dog-themed token has seen a price surge of over 40% in the last month, mirroring a broader trend among its rival meme coins.
This recent rally comes amidst positive sentiment surrounding the crypto market, fueled in part by the long-awaited approval of an Ethereum ETF. Analysts are cautiously optimistic about BONK’s future, with some predicting a potential return to its all-time high.
Analyst Bullish On New ATH For BONK
Renowned crypto analyst CryptoJack has been tracking BONK’s price movement closely. In a recent analysis, he highlighted that the coin is following a bullish pattern he outlined earlier.
The price of $BONK is doing exactly what I said it would do in my analysis last week.
It was rejected by the resistance and now needs to bounce from the orange area of support to stay bullish.
If we can stay above this area, I am expecting new ATHs very soon for #BONK! pic.twitter.com/j3Abd7J5YA
— CryptoJack (@cryptojack) May 30, 2024
However, CryptoJack emphasizes the importance of a crucial support level – visualized as an “orange zone” on charts. If BONK can maintain its position above this zone, the analyst predicts a potential breakout and a surge towards new all-time highs (ATHs).
BONK’s all-time high of .00004547, reached in March 2024, currently sits about 25% above the current price. While this historical peak suggests room for growth, some experts remain cautious. Technical analysis, the method CryptoJack employs, relies on past price movements to predict future trends, but it’s not a foolproof science.
Meme Coin Frenzy: Booms And Whimpers
The meme coin market has a reputation for being driven more by hype and social media trends than by underlying fundamentals. This can lead to explosive price increases, but also to equally dramatic crashes. Remember “Dogefather” Elon Musk’s offhand tweets sending Dogecoin prices into a frenzy, only to see them plummet just as quickly? BONK is not immune to such influences.
BONK Price Forecast
Meanwhile, based on the current price prediction, Bonk is anticipated to rise by an impressive 226%, reaching .000112 by July 1, 2024. This substantial increase suggests a highly bullish long-term outlook despite the current bearish sentiment indicated by technical indicators.
The Fear & Greed Index, currently at 72, points towards a high level of greed in the market. This index measures market sentiment and a reading of 72 indicates that investors are exhibiting strong buying behavior, possibly driven by the expectation of future gains.
However, such high levels of greed can often lead to overbought conditions, where the asset’s price may be inflated beyond its intrinsic value, raising the risk of a sharp correction.
Featured image from Pngtree, chart from TradingView
Bitcoin-Based DOG Token Climbs to 9th Largest Meme Coin, Sees 216% Rise in 30 Days
A meme token named DOG•GO•TO•THE•MOON, created by Leonidas, the founder of Ord.io, has reached a new peak and is now the ninth-largest meme coin by market capitalization. At the time of writing, the token’s market value stood at 5 million. The Top 10 Meme Coins Now Have Bitcoin-Centric Member A new meme coin has entered […]
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AI-Driven Fraud on the Rise, Financial Institutions Unprepared, Reveals Report
A new report by Signicat, the European digital identity and fraud prevention solutions provider, reveals that artificial intelligence (AI) is used in over a third of fraud attempts targeting financial institutions, with one in fifteen fraud attempts now using deepfakes. The study, titled “The Battle against AI-driven Identity Fraud,” found that 42.5% of detected fraud […]
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Dogecoin Bulls On The Rise: Analyst Highlight Path To $0.2
Dogecoin (DOGE), the popular meme-inspired cryptocurrency, is currently demonstrating signals that suggest it might be on the cusp of a significant bullish breakout.
According to a recent analysis from prominent crypto analyst Ali, the meme-inspired cryptocurrency appears to be approaching a crucial resistance level, with market behaviors hinting at potential upward movement.
Eyes Set On Breaking The .2 Resistance Level
Ali, a well-known market analyst, pointed out that Dogecoin is testing the possibility of reaching its highest price level in over a month at .2. His analysis is based on DOGE’s recent escape from a descending triangle pattern, which typically suggests a shift in market dynamics favoring buyers.
Following a pattern similar to the previous cycle, where DOGE experienced a retracement after breaking out from a descending pattern before rallying, the asset has recently completed a significant 47% retracement.
This movement has led Ali to highlight the market’s tendency to echo past patterns, though not perfectly. With the breakout from the descending pattern and subsequent retracement now complete, DOGE is positioning itself for another push toward the .2 resistance level.
History doesn’t repeat itself, but it often rhymes!! https://t.co/qr9BG5QnjH
— Ali (@ali_charts) May 21, 2024
This level has proven challenging, with selling pressure frequently intensifying around this range. However, the broader market sentiment remains bullish, which could support Dogecoin’s push toward this key price point.
Notably, to reach .2, DOGE would need to increase further by nearly 20% from its current position. Currently, the memecoin is trading at .168, reflecting a 10% increase over the past 24 hours and continuing a week-long uptrend that has seen nearly a 15% increase.
Surging Interest In Dogecoin And Strong Upside Signal
The positive movement in DOGE’s price performance is further underscored by a surge in DOGE’s open interest, which has risen by 23% in the past day to reach billion, according to data from Coinglass.
Additionally, the open interest volume has soared by 200%, now at nearly billion. An increase in open interest indicates that new market participants are entering or existing positions are being expanded. This can be a sign of strengthening market activity and a supportive factor for the ongoing price increase.
Echoing Ali’s sentiment, another analyst from Crypto Daily Trade Signals identified a symmetrical triangle pattern in DOGE’s price movements, reinforcing the potential for continued upward momentum.
According to this analysis, Dogecoin is showing signs of bullish behavior, with immediate resistance near .15950. However, since DOGE already surpassed that, the analyst noted other resistance levels at .16980 and .18440.
Featured image created with DALL·E, Chart from TradingView
Why Did The Bitcoin Price Rise Above $66,000 Today?
Bitcoin recently rose above ,000 for the first time since April. This recent price rally from the flagship crypto is believed to be due to several factors, including the recently released inflation data.
Inflation Data Comes In Lower Than Expectations
The Consumer Price Index (CPI) inflation data was announced on May 15 and came in lower than expected. The CPI rose by 0.3% in April, against forecasts of 0.4%. The CPI data was also lower than those recorded in March and February, when inflation rose by 0.4%.
Therefore, the latest inflation data suggests that inflation in the US might be slowing down. This development has provided some relief for investors, as the Fed is likely to maintain a dovish stance and consider rate cuts as inflation looks to decline. Lower interest rates mean investors will be more confident investing in risk assets like Bitcoin.
Another factor contributing to Bitcoin’s rally is recent reports showing that some notable institutions are heavily invested in the flagship crypto. Bitcoinist reported that the State of Wisconsin has invested almost million in BlackRock’s Spot Bitcoin ETF. Hedge Fund Millenium Management is also reported to hold .94 billion across five different Spot Bitcoin ETF products.
This presents a bullish outlook for Bitcoin as it suggests that institutional investors are interested in the crypto token for the long term. Meanwhile, from a technical analysis perspective, Bitcoin also looked primed for this rally, with crypto analyst Rekt Capital revealing that the flagship crypto was out of the post-halving “Danger Zone.”
Crypto analyst Mikybull Crypto also noted that Bitcoin was displaying a cup and reversal pattern on the weekly chart and added that the “breakout will be explosive and will send it to a cycle top.”
What Next For Bitcoin?
In a Telegram update, crypto trading firm QCP Capital stated that they expect this bullish momentum to take Bitcoin’s price to the previous highs of ,000. They highlighted activity in the derivatives market and growing institutional demand as factors that could contribute to Bitcoin’s rise to this price level.
They also raised the possibility of this being the resumption of the bull market, stating that “the stars seem to be aligning on this breakout with significant sovereign and institutional adoption, abating inflation and upcoming US elections.” The trading firm added, “If this is indeed the start of the bull trend again, then this move could take us past all-time highs.”
Rekt Capital suggested that this might be the beginning of an upward trend for the flagship crypto as he revealed that the daily downtrend for Bitcoin is over. In another X post, the crypto analyst also noted that the Bitcoin bull market is not yet over.