Bitcoin

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

Published

8 months ago

18 May, 2024

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

Ether, Solana and XRP could heat up again as crypto winter ends.

Bitcoinin (Bitcoin -0.08%) reduce by half, which took place on April 19, was one of the biggest catalysts for the cryptocurrency market this year. This closely watched event, which halves Bitcoin mining rewards every four years, was expected to tighten the supply of the flagship cryptocurrency and stabilize its market price.

Along with the halving, approvals of Bitcoin’s first spot price ETFs and hopes of lower interest rates brought back the bulls and increased its price by over 140% in the last 12 months. Personally, I believe that Bitcoin still has a lot to do space to runbut investors should also consider investing in three other promising cryptocurrencies – Ether (ETH 0.37%), Solana (SUN 1.02%) and XRP (XRP -0.32%) – when crypto winter finally ends.

Image source: Getty Images.

1. Ether

Ether, the native cryptocurrency of the open-source Ethereum network, differs from Bitcoin in two ways. First, switched from energy-intensive system proof of work Mining method (PoW) (used by Bitcoin) for the most energy efficient proof of bet System (PoS) for validating transactions in September 2022. This “Merge” reduced the total mining energy consumption of the Ethereum network by 99.95%.

Secondly, the Ethereum blockchain can be used for the development of decentralized applications (dApps), non-fungible tokens (NFTs), smaller cryptocurrencies and other crypto assets. This flexibility makes it more attractive to developers than the Bitcoin blockchain, which can only be used to mine more Bitcoin.

Bulls believe that the Ethereum network will continue to expand as developers create more dApps and tokens, and that some of these applications will disrupt traditional financial institutions. As this ecosystem matures, the value of Ether – already the second largest cryptocurrency in the world – will stabilize and continue to increase.

Several companies, including Ark Invest and VanEck, are also pushing regulators to approve their spot-price Ether ETFs. If this effort is successful, the price of Ether could get together even bigger.

2. Solana

Ethereum’s main competitor is Solana, which also operates an open-source blockchain for developing decentralized applications and tokens. It uses the same PoS process as Ethereum, but speeds up the process with its own proof-of-history (PoH) method. This fundamental difference allows Solana to process transactions at a much faster rate than Ethereum.

Solana suffered two major setbacks in 2021 and 2022. First, the explosive growth of the NFT market caused severe congestion and security issues on its network. Secondly, cryptocurrency exchange FTX – one of Solana’s biggest backers – went bankrupt and began liquidating its tokens to raise new money for its creditors.

However, Solana’s price eventually stabilized and recovered as it upgraded its network and withstood FTX’s massive sell-off. Its blockchain is still being used to produce popular meme coins like BONADO (BONADO 9.42%) and WIF (WIF -7.63%), as well as decentralized exchanges like Jupiter and Orca. Launched Solana Pay, which was integrated into Shopify last year to reach more mainstream users. It also settled more stablecoin transactions for Visa and Circle.

All these developments indicate that Solana, which is now one of the five most valuable cryptocurrencies in the world, still has a lot of room to grow as the crypto market heats up again.

3.XRP

XRP is the native cryptocurrency of Curling payment protocol network, launched in 2012. Ripple instantly settles real-time gross payments, remittance payments, and foreign exchange transactions with low fees and no chargebacks, typically transferring money across international borders. Financial institutions such as Travelex Bank, Tranglo and Sentbe later linked to Ripple’s payments network, but their XRP tokens were not as widely accepted for payments as Bitcoin or Ether.

For now, XRP biggest challenge is a US Securities and Exchange (SEC) lawsuit that was launched in late 2020 in response to Ripple’s offering of $1.3 billion in XRP tokens. The SEC argues that the offering constituted an illegal sale of unregistered securities. The final phase of this testing began in April and will likely drag on for at least a few more months.

Ripple appears to be winning this battle so far. Last July, a judge ruled that XRP tokens were not, in fact, unregistered securities, and the SEC dropped its separate lawsuits against two Ripple executives. If Ripple finally scores a decisive victory against the SEC, the price of XRP – which is trading nearly 90% below its all-time high – is expected to soar.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Bitcoin, Ethereum, Shopify, Solana, Visa, and XRP. The Motley Fool has a disclosure policy.

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Bitcoin

What to watch for in the markets

Published

6 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

6 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

6 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

6 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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