Bitcoin

Bitcoin Price Prediction with $80K on the Horizon – Will BTC Recover Soon?

Published

8 months ago

26 May, 2024

SatoshiTimes Staff

Last updated: May 24, 2024 06:17 EDT | 3 minutes reading

Bitcoin Price Prediction

Bitcoin (BTC), the leading cryptocurrency, struggled to break its previous downtrend, hovering around the $67,824 mark and hitting an intraday low of $66,600. The decline intensified after the release of robust PMI data from the US labor market and services, which reduced investor expectations regarding a Fed rate cut in September and reduced demand for riskier assets.

Looking ahead, Bitcoin investors will focus on upcoming comments from Fed officials, especially Fed Waller, who is expected to speak on Friday.

Aggressive comments could weigh on Bitcoin. Additionally, upcoming reports on US Durable Goods Orders and Michigan Consumer Sentiment Index will also influence market sentiment.

Strengthening the US dollar and positive impact of economic data on Bitcoin prices

The US dollar has strengthened recently due to positive economic data, decreasing the likelihood of a Federal Reserve rate cut in September. This has put pressure on the crypto market, including Bitcoin.

Atlanta Fed President Raphael Bostic highlighted continued concerns about inflation, suggesting the Fed could maintain higher rates to prevent economic overheating.

FedWatch Tool: The odds of unchanged rates in September increased from 41.9% to 48.4% on May 23.
Initial unemployment claims in the US: It fell from 8,000 to 215,000 in the week ending May 18.
PMI data: The manufacturing PMI rose to 50.9 in May, the services PMI rose to 54.8, and the composite PMI jumped to 54.4, all exceeding expectations.

The stronger US dollar and positive economic indicators have made investments in cryptocurrencies like Bitcoin less attractive due to higher opportunity costs.

Bitcoin Sees Uptrend Amid US Regulatory Changes

Recent regulatory changes in the US have triggered an uptrend for Bitcoin. Key developments include members of Congress urging the SEC to approve the spot Ethereum (ETH) ETFs and the approval of the FIT21 bill, which clarifies regulations on cryptocurrencies.

Additionally, top Bitcoin holders, known as “whales,” accumulated 20,000 BTC, worth about $1.4 billion, last week.

Strong activity was also seen in Bitcoin-linked ETFs, with $1.7 billion flowing into these funds in the last eight days.

These regulatory changes and positive developments have driven demand for Bitcoin, with significant accumulation by whales and substantial inflows into spot Bitcoin ETFs.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is currently trading at $67,835, down 2.25% in the last 24 hours, signaling a bearish Bitcoin Price Prediction. O

Bitcoin price is currently trading at $67,860, down 0.27% in the last 24 hours. The 4-hour chart highlights a crucial point at $68,263. The immediate resistance levels to watch are $70,029, $71,458, and $73,299. On the downside, immediate support levels are at $66,357, $64,947, and $63,490.

The Relative Strength Index (RSI) is at 40, indicating that Bitcoin is approaching oversold conditions. The 50-day exponential moving average (EMA) is at $68,615, suggesting a downtrend as prices trade below this average.

In conclusion, Bitcoin remains bearish below $68,250. A break above this level could change the trend to bullish, while a continued decline could cause further losses.

Bitcoin Price Prediction

Conclusion: Bitcoin’s current price action suggests a bearish outlook as it trades below the $68,263 pivot point. Immediate resistance levels are at $70,030, $71,450 and $73,300, while support levels are at $66,357, $64,947 and $63,490.

Mega Dice pre-sale approaches final stage with $1.34 million raised: last chance before price increase

The Mega Dice presale is reaching its final stage, having raised $1,337,416.86 with over 19 million $DICE tokens sold out of a total of 28 million. This increase in investment underscores the growing interest in crypto-integrated iGaming platforms in the Web3 space, where Mega Dice is making significant inroads.

Another milestone for Mega Dice Casino is Reaching 10,000 Members in the $DICE Telegram SuperCommunity. This active community participates in daily discussions about $DICE, utilities and partnerships and provides technical support.

In the booming GambleFi sector, Mega Dice leverages its $DICE token to enhance the online gaming experience. Players use $DICE to play, gaining entry to exclusive competitions and access to a loyalty program offering generous rewards and VIP experiences.

Mega Dice’s buy-back and burn strategy aims to maintain token scarcity and increase market value. With pre-sales ending soon and the next pricing phase imminent, now is a crucial time for potential investors.

Stay up to date with Mega Dice news on platforms like X/Twitter and Telegram, and consider joining the pre-sale before the price increases to $0.075 per $DICE token.

Disclaimer: the text above is an advertising article that is not part of the Cryptonews. with editorial content.

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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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