Over the past week, bitcoin has exhibited a downward trend, with its price stabilizing at around ,950 to ,125 per unit as of April 27. Despite this dip, the Crypto Fear and Greed Index remains firmly in the “greed” sector. According to Google Trends, interest in the term “bitcoin” has diminished, while the market intelligence […]
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The Rise of Hugewin: New Face of Crypto Casino
PRESS RELEASE. When it comes to crypto casinos, Hugewin leads the charge in transforming the online gambling landscape with its innovative approach to cryptocurrency gaming. Offering a diverse array of games, generous promotions, and unmatched customer service, Hugewin stands as the ultimate destination for players seeking an immersive and rewarding gaming experience. Diverse Cryptocurrency Options […]
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Akash Network (AKT) Leads Crypto Top 100 With 46% Rise Today: Here’s Why
Amidst a rather quiet altcoin market, Akash Network (AKT) has emerged as today’s standout performer among the top 100 cryptocurrencies by market capitalization, recording a significant 46% increase in price over the past 24 hours. This surge has propelled AKT to the forefront, well ahead of its peers such as Core (CORE) and Arweave (AR), which posted gains of 7% and 6%, respectively.
As of this writing, AKT is trading at .03. This increase in price has pushed its market cap to approximately .4 billion, positioning it as the 68th-largest cryptocurrency. Additionally, Akash Network’s trading volume has seen a dramatic rise of 2,790%, reaching 6 million today.
Earlier today, AKT reached a new all-time high of .84 on the cryptocurrency exchange Kraken, though it has since adjusted to around .03, below its previous peak of .49.
Catalysts For The Akash Network Surge
The primary driver behind today’s price escalation appears to be an announcement from Upbit, a major South Korean cryptocurrency exchange. Upbit has confirmed that it will list AKT, offering trading pairs in South Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) starting at 10:00 UTC today.
Further fueling investor interest, data from Santiment, a market intelligence platform, shows that Akash Network’s social media volume has spiked by 200% in the last 24 hours. This surge in social activity, predominantly on platforms like Reddit and Bitcointalk, has played a significant role in AKT’s market performance.
Future Price Trajectory
Looking ahead, if AKT’s price can record a daily close above the previous all-time high of .49 (set on March 11, 2024) today, the next target could be .46, corresponding to the 1.272 Fibonacci extension of the overarching price movement. Should the buying pressure continue, a move towards .64, marked by the 1.618 Fibonacci extension, might be on the horizon. Here, traders should anticipate potential profit-taking.
A breakthrough beyond this level could pave the way to medium-term targets at .92 (2.272 Fibonacci extension) and potentially even .13 (2.618 Fibonacci projection), contingent on continued bullish sentiment across the broader crypto market.
Conversely, if AKT fails to uphold its new highs and closes below .48, a downward correction towards the .74 zone (0.786 Fibonacci level) could occur, where new buying opportunities might arise. A further dip below this level could see retests of the .16 (0.618 Fibonacci level) and .75 (0.5 Fibonacci level) support zones.
The trajectory of AKT, like that of many cryptocurrencies, could be influenced by broader market conditions, including potential downturns triggered by accelerating US inflation, the US Fed’s favorite inflation gauge, the Personal Consumption Expenditures Price Index (PCE) is set for release on Friday, April 26, or other macroeconomic factors.
Nevertheless, the 200-day exponential moving average (EMA), currently at .24, remains the most critical long-term support level for AKT.
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Goldman Sachs, a leading investment banking institution, has updated its gold price forecast due to the unforeseen strong performance of the metal in 2024. In a note directed to investors, the bank expects gold to reach ,700 per ounce by year’s end, pushed by non-traditional factors. Goldman Sachs Updates Gold Price Outlook to ,700 per […]
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Altcoins Hotlist: Expert Identifies Top 6 Coins To Track Amid Bitcoin’s Rise To $72,000
As Bitcoin (BTC) continues its upward trajectory, regaining its bullish momentum after brief range-bound price action and inching closer to its all-time high (ATH) of ,700, crypto analyst Miles Deutscher shared insights on several altcoins to watch for potential gains this week.
Altcoins With Strong Potential
First, Deutscher observes a robust recovery in Bitcoin following its recent dip below the ,000 level on April 3rd. The analyst notes that Bitcoin’s structure appears positive, with ,8000 being the critical level to watch as it represents the previous ATH and the cryptocurrency’s last resistance before further gains.
According to Deutscher’s analysis, BTC’s ability to break through this level could signal further upward momentum for the market leader.
Despite recent network congestion issues, Deutscher remains optimistic about Solana’s long-term prospects, as it is the first of several altcoins on the analyst’s radar this week, promising further gains on top of its already 23% uptrend over the past month.
The analyst highlights that sentiment around Solana has deteriorated slightly but emphasizes that these issues are unlikely to significantly impact the medium to long term.
Next on the list, Deutscher identifies BTC’s equivalent to non-fungible tokens (NFTs), Ordinals, as a strong performer within the BRC-20/BTC narrative ecosystem.
With the Bitcoin halving scheduled for the last half of April just days away, Deutscher remains bullish on the ORDI token ahead of the event. While the narrative surrounding the halving remains relatively quiet, Deutscher continues to suggest that Ordinals stands out as a leader in the space.
Orion And Altlayer
Deutscher has expressed interest in Altlayer, an altcoin closely associated with the EigenLayer protocol, due to recent rumors surrounding the upcoming EigenLayer airdrop. According to the analyst, Altlayer’s proximity to the airdrop and its involvement in the restaking narrative contributes to its appeal.
Given these anticipated developments, Deutscher sees a potential boost for the token as the market prepares for the airdrop. The token is up 14% in the last month alone and over 4% in the previous 24 hours.
Similarly, Deutscher highlights ORN as the first restaking rollup on EigenLayer and emphasizes the limited opportunities to get exposure to EigenLayer before its official launch.
This factor, combined with Orion’s rebranding to LUMIA, has attracted positive market sentiment, the analyst said, noting that recent weeks have demonstrated the market’s positive response to token rebrands, further increasing Orion’s potential.
Dogecoin’s ‘Doge Day’
Next on the altcoin watchlist, Deutscher notes the upcoming “Doge Day” on April 20, which has historically seen increased interest and speculation surrounding the dog-themed meme coin.
According to the analyst, the possibility of Elon Musk tweeting about the meme-inspired cryptocurrency has fueled expectations for potential price moves. Deutscher suggests monitoring DOGE for strength and considering it as a viable short-term trading opportunity.
Finally, Deutscher points to previous instances where early altcoins airdrop participants experienced initial selling pressure, followed by potential rebounds.
Wormhole’s native token, W, is facing a similar scenario as the token has fallen over 30% since trading began on April 3. Deutscher advises watching how the token reacts around the significant support level of .
Once the initial selling pressure potentially subsides, Deutscher notes that a positive reaction can be expected, but whether the support holds will be key to determining the cryptocurrency’s next moves.
Featured image from Shutterstock, chart from TradingView.com
Crypto Analyst Predicts Shiba Inu Price To Rise 5000% To $0.001 – Here’s When
Crypto analyst Armando Pantoja recently outlined his price targets for several crypto tokens after the fast-approaching Bitcoin Halving. Although he included price targets for Bitcoin and Ethereum, his ambitious price target for Shiba Inu (SHIB) was what caught the attention of the crypto community.
Shiba Inu To Hit .001 After The Halving
Pantoja predicted in an X (formerly Twitter) post that Shiba Inu could rise to .001 after the Bitcoin Halving occurs later this month. As expected, this price prediction has raised eyebrows, considering SHIB’s current price level. Moreover, a rise to .001 represents a 5,000% gain for the meme coin, which already looked to have used up its bullish momentum in the 2021 bull run when it recorded a price increase of 46,000,000%.
Interestingly, Pantoja’s prediction isn’t the most bullish price prediction made for Shiba Inu so far. Crypto analyst Ali Martinez previously predicted that the meme coin could rise to as high as .011, although he didn’t state when exactly this would happen. Some other crypto analysts have also given their thoughts on SHIB’s future trajectory, although not as bullish as Pantoja and Martinez’s predictions.
Pseudonymous crypto analyst and trader Xanrox predicted that SHIB could see a 300% gain before year-end. Additionally, he suggested that the meme coin could see a new all-time high of .00008854. Crypto analyst Javon Marks also predicted that Shiba Inu could rise to as high as .0001553 at some point in this market cycle.
Crypto analyst Altcoin Sherpa, for his part, cautioned crypto investors against expecting similar returns to the one SHIB recorded in the last bull run. He stated that those investing in the meme coin are unlikely to see as much as a 20 times return on their investment.
XRP To Rise To
Pantoja also predicted that XRP could rise to between and after the Halving. This is another eye-catching price prediction considering XRP’s current price level and how much the crypto token has continued to lag despite the impressive gains recorded in the broader crypto market.
However, Pantoja isn’t the only crypto analyst who believes that XRP could rise to . Crypto analyst CrediBULL Crypto recently mentioned that XRP rising to is possible since Ethereum rising to ,000 is feasible. Nick, the founder of Web3Alert, also shares similar sentiments. He previously predicted that XRP could rise to based on predictions that Bitcoin and Ethereum will rise to 0,000 and ,000, respectively.
This might also have been why Pantoja predicted that XRP could attain this price level; he also predicted that Bitcoin could rise to between 0,000 and 0,000 while Ethereum could rise to between ,000 and ,000.
Bitcoin Meteoric Rise: Analyst Predicts $90,000 Milestone In April
Amid the bearish pressure witnessed in the price of Bitcoin, Captain Faibik, a popular cryptocurrency analyst and trader, has identified the potential for a significant rebound that could send BTC to an unprecedented level before the end of April.
Bitcoin Might Be Poised For New Peak This Month
Bitcoin is presently exhibiting a downward pressure on low timeframes, falling to the ,000 price level after briefly touching ,000 on Monday. Despite the adverse price action, Captain Faibik is confident there will be an uptick in the price of BTC this month.
Captain Faibik’s analysis emphasizes Bitcoin’s bullish pennant formation on the 12-hour timeframe chart. According to the crypto expert, an upside breakout is anticipated later this week.
Should there be a successful breakout, as anticipated by the expert, Bitcoin might be poised to reach a new all-time high. As a result, Captain Faibik has set his price target around the ,000 and ,000 threshold this month. The post read:
BTC Bullish pennant formation on the 12hrs timeframe Chart. Expecting an upside Breakout later this Week. In case of a Successful Breakout, Bitcoin might hit ,000-,000 this month.
The expert has also confirmed that the bullish pennant developed on the daily timeframe chart. Thus, the analyst is optimistic that the breakout will materialize soon.
The analyst has also identified some buying pressure on low timeframes, triggering momentum for the crypto asset. “BTC Bulls are defending the 4-hour Exponential Moving Average (EMA) 200 around ,600 and bullish pennant also in play,” he stated.
However, for the Bitcoin bulls to regain momentum, they must reclaim the critical resistance level of ,000. This suggests the bulls still have more work to do to reach the resistance level.
Currently, Bitcoin is trading at ,125, with a decline of over 5% in the past 7 days. Its trading volume has plummeted by nearly 9% in the past day, while its market cap is slightly up by 0.81%.
Possible Correction On The Downtrend
While Faibik anticipates a recovery, some analysts are pessimistic about the asset’s movement and express worries about a potential pullback. One of the crypto experts who predicted a further correction in BTC is The Fomo Factory.
The expert discussed possible outcomes and provided several worrying price targets for the coin. According to the analyst, Bitcoin could drop to ,000, representing strong support, and to the ,000 and ,000 Fibonacci retracement line.
The analyst further cautions against discounting a more significant retrace to the ,000 and ,000 region.
This prediction casts a shady ground for the largest cryptocurrency asset as the Bitcoin halving event approaches. However, given the previous impact on the coin’s price, there is hope for a rally in the short term.
Bitcoin Technical Analysis: Bulls Regain Strength and Rise Toward Upper Resistance Levels
Bitcoin’s price trajectory on March 25, 2024, showcases bullish momentum, coasting along at ranges between ,934 to ,087 per unit. The day’s trading ranged from ,568 to ,672, indicating a volatile yet upward trend. Bitcoin A close examination of bitcoin’s (BTC) oscillators suggests a predominantly neutral to bullish sentiment among traders. The relative strength index […]
Bitcoin News
Ethereum Sees Notable Rise In Daily Activity, But Why Is Price Down?
Ethereum’s network has seen notable growth recently in both daily active users and daily transaction volume, yet the price of ETH, Ethereum’s native cryptocurrency, has undergone corrections in the past few days. Notably, Ethereum is down by over 10% in the past seven days, underperforming Bitcoin and the S&P 500.
While this decline can be felt through the majority of large cryptocurrencies in the industry, the number of daily active Ethereum addresses has been steadily rising over the past month.
Ethereum’s Network Activity Surges But Price Remains Stagnant
An increase in network activity is usually a bullish sign for the price of cryptocurrencies as more activity means more demand. Interestingly, the number of daily active Ethereum addresses has increased by over 46% since January 3.
This increase in active addresses largely came with a surge in price over the past few months. Ethereum shot up from ,909 on February 24 to reach a two-year high of over ,000 on March 12, representing a surge of over 39%. According to data from YCharts, the number of daily active addresses increased simultaneously from 432,647 to 515,145 during the same time frame.
However, Ethereum has been on a price decline since its brief cross over ,000 and is currently down by 17% in the past 10 days. On the other hand, the network has witnessed a continued surge in activity in terms of on-chain data, with the number of daily active addresses now at 618407 in the past 24 hours, its highest point since October 2023.
According to data from IntoTheBlock, ETH’s daily average volume has been steadily growing in a similar manner to the one recorded in 2020’s early bull market. This growth has now pushed the amount of ETH transferred on Ethereum to its highest level since May 2022 this week.
Can Ethereum Resume Its Uptrend?
At the time of writing, Ethereum is trading at ,355. The price of any cryptocurrency, including ETH, depends heavily on market sentiment and speculation. While growing adoption and network activity are positive signs for long-term price growth, speculation is what really drives the price, at least in the short term.
At the same time, its price remains under pressure from several areas. One of such pressures is a recent report that the SEC is poking around Ethereum and the Ethereum Foundation and is looking to classify ETH as a security.
As the second-largest cryptocurrency, ETH’s classification as a security could cause chaos that would eventually cascade into other crypto assets.
Ethereum seems to have now formed a minor support at the ,280 price level. Failure to hold above this price point could mean a further move to the downside.
Featured image from Pexels, chart from TradingView
Shiba Inu May Rise 250% Pre-Bitcoin Halving, Predicts SHIB Team
In a bold forecast that is stirring considerable attention within the SHIB community, a prominent official from the Shiba Inu ecosystem has projected a staggering 250% surge in the token’s value leading up to the upcoming Bitcoin halving. Lucie, the marketing lead for Shiba Inu, expressed her confidence in a significant rebound for SHIB, predicting that the meme coin could surpass its 2021 all-time high (ATH) in the weeks ahead.
This optimistic outlook comes despite the token’s recent 43% decline to .000026 from its recent yearly high at .000045. Lucie shared her personal investment move on X, revealing her purchase of SHIB during the recent dip at around .000024, amounting to 9.08.
She dubbed this strategy “Bought the DIP, my lovely SHIB,” showcasing her belief in a strong move for the meme coin. With SHIB currently trading at .000026, a 70% decrease from its ATH of .00008845, the crypto must experience a swift and significant rally of 250% to achieve its previous peak.
This ambitious target is set against the backdrop of the upcoming Bitcoin halving, expected to occur in 22 to 31 days based on various estimates. “Bought the DIP. My lovely $SHIB. If someone can pull [a] miracle recovery, it’s SHIB. I’m expecting ATH soon before or shortly after BTC halving. Nfa,” Lucie remarked.
Bought the DIP
My lovely $SHIB
If someone can pull miracle recovery it’s $SHIB
I’m expecting ATH soon before or shortly after BTC halving nfa pic.twitter.com/lOXoHgHWUl
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) March 20, 2024
Shiba Inu Set To Overtake Dogecoin?
Lucie’s confidence may be mirrored in another daring prediction by the Shiba Inu team on X, where they assert SHIB’s potential to eclipse Dogecoin in market capitalization through strategic moves referred to as “Secret Wags.”
Reacting to CryptoCom’s classification of SHIB as the second most valuable meme-inspired project, the Shiba Inu team hinted at a future where SHIB dethrones DOGE, stating, “[Number] 2 today, but the Doge days are numbered.”
The competition between SHIB and DOGE is not new; both tokens have vied for dominance in the past. DOGE currently holds the #10 spot in market cap among all cryptocurrencies, with SHIB trailing closely at #11. The market cap gap between DOGE and SHIB stands at .14 billion, with DOGE boasting a market cap of .41 billion compared to SHIB’s .27 billion.
To reach a new all-time high against its competitor, DOGE, SHIB would need to rally another 50% (SHIB/DOGE), building on the 98% gain against DOGE over the last four weeks.
Despite previous attempts to surpass Dogecoin, the Shiba Inu team remains undeterred, buoyed by the growing utility of the Shiba Inu ecosystem beyond its meme coin origins. The development of Shibarium, a blockchain platform offering various utilities for crypto development, and the rallying support of the #ShibaArmy, underline the team’s determination.
“We’ve got the #ShibaArmy, #Shibarium, and secret wags we can’t reveal yet. Get ready for a new top doggo. Much wows incoming! #SHIB,” the team enthusiastically stated.
#2 today, but the Doge days are numbered. We've got the #ShibaArmy #Shibarium and secret wags we can't reveal yet. Get ready for a new top doggo. Much wows incoming! #SHIB https://t.co/GiCJ2OKCLv
— Shib (@Shibtoken) March 20, 2024
At press time, SHIB traded at .00002566.