Bitcoin

Bitcoin halving has been completed. 3 cryptocurrencies to buy now.

Published

11 months ago

18 May, 2024

The fourth reduce by half in Bitcoin Mining rewards (CRYPTO:BTC) are on the books and the crypto world is buzzing. With Bitcoin’s inflation rate reduced and scarcity increased, experts predict a price increase that could have repercussions throughout the market.

The halving means that miners now receive fewer bitcoins to validate transactions, making each digital currency more valuable. This is expected to increase prices over the next year, assuming demand for Bitcoin remains stable or increases. Without this market reaction, mining becomes unprofitable and the transaction processing system collapses.

Obviously, this is good news for Bitcoin investors. The leading cryptocurrency should be first on your list if you are dipping your toe into crypto waters for the first time these days.

Growth investing mentor Cathie Wood of ARK Invest agrees: The inflation dampening effect of halving cycles Furthermore, the arrival of spot Bitcoin exchange-traded funds (ETFs) is expected to push the price of Bitcoin to $1.5 million or more by the year 2030.

More aggressive adoption of Bitcoin in the financial community could drive the currency’s price to $3.8 million, in Wood’s opinion. And I don’t think she’s wrong about that. The only question is how quickly traditional bankers will embrace the increasingly digital global economy.

But Bitcoin isn’t the only cryptocurrency in play right now. Ethereum (CRYPTO: ETH) and Polka dot (CRYPTO: DOT) also strike me as great long-term investments – for very different reasons.

Ethereum

Bitcoin and Ethereum generally move together. Its price charts are almost twins, except that Ethereum’s long-term gains tend to be a little higher:

Bitcoin Price Chart

This happens for a few reasons:

Market sentiment towards Bitcoin tends to color the entire crypto market. When the biggest and oldest name in the industry is in the headlines, the very idea of digital currencies gains space in public discussion. As such, Ethereum follows the lead of its larger cousin in a fairly straightforward way.
Ethereum is also a pioneer in cryptography. Its smart contracts add value to the overall industry, and many popular digital currencies are actually ERC20 tokens on the Ethereum network. Developers tend to work on creating apps and programs that rely on smart contracts when cryptocurrencies are inspiring headlines, so it makes sense that the leading smart contract platform would outperform Bitcoin’s simple store-of-value profile.

Therefore, I expect Ethereum to follow suit with Bitcoin’s next price gains, with an extra dose of adrenaline added to the mix. Pessimistic analysts would point out that Ethereum has many rivals currently, led by the faster market Solana (CRYPTO: SOL) and Cardano (CRYPTO: ADA).

The story continues

But Ethereum has a several-year head start on these potential replacements and a much larger market presence. And don’t forget that the Ethereum blockchain is in the middle of a long update process, increasing the execution speed of its contracts and adding new features.

The king of digital contracts may end up sharing the crypto throne with a few rivals, but there is room for several substantial winners up there.

Polka dot

If Ethereum is Bitcoin’s turbocharged graphical twin, Polkadot plays the role of an undervalued, low-priced alternative. Bitcoin prices have more than doubled in the last two years, but Polkadot is down 34% in the same period:

Bitcoin Price Chart

However, Polkadot appears poised to perform in the near future. This is the official blockchain ecosystem of the Web3 Foundation, and the Internet as we know it appears to be overdue for a new architecture. The age of social media giants is starting to feel tiresome.

With its focus on the ideals of Web3 and interoperability between different blockchain systems, Polkadot is uniquely poised to win in the coming radical changes. The Polkadot project aims to build a decentralized internet, attracting developers and projects seeking advanced functionality in an era of more personal online interaction.

Polkadot is a bit lost in the market noise right now as investors don’t see much evidence that the Web3 revolution is coming. I see the price drop as a wide-open buying window, setting Polkadot up for bigger percentage gains from a lower base.

With Bitcoin halving events boosting overall market sentiment, now could be the perfect time to invest in Polkadot at a crazy discount.

Should you invest $1,000 in Polkadot now?

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Anders Bylund has positions in Bitcoin, Cardano, Ethereum, Polkadot and Solana. The Motley Fool has positions and recommends Bitcoin, Cardano, Ethereum and Solana. The Motley Fool has a disclosure policy.

Bitcoin halving has been completed. 3 cryptocurrencies to buy now. was originally published by The Motley Fool

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Bitcoin halving has been completed. 3 cryptocurrencies to buy now.

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SatoshiTimes Staff

We are the editorial team of SatoshiTimes, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on SatoshiTimes, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

What to watch for in the markets

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

9 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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