Author: Maria
A renowned economist disagrees with Bitcoin supporters who claim that cryptocurrency could someday solve the national debt of the United States. Economist Peter Schiff expressed his skepticism on the bold declaration of what he called “Bitcoin pumpers” that 1 million BTC can settle the country’s national debt, saying that even with that number of cryptos, it will still be insufficient to address the country’s enormous government debt. Not Enough To Pay US Debt Schiff does not believe that 1 million Bitcoin is the answer to paying off the US national debt, arguing that to do that, the crypto needs to…
In the past few days, Bitcoin (BTC) has oscillated between $100,000 – $102,000 following multiple failed attempts to push into higher price zones. Despite breaching the $100,000 price mark earlier in December, the premier cryptocurrency has seen its bullish momentum in Q4 slow down, rising by only slightly over 4% so far in this final month of 2024. Amidst this stalled price growth, recent data on Bitcoin miners’ transactions may indicate additional concerns for investors. Bitcoin Miners’ Holdings Drop To 1.95 Million BTC According to renowned crypto expert Ali Martinez, Bitcoin miners have recently shed significant amounts of their holdings.…
The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged from the crypto crowd over the past few weeks. The latest on-chain observation suggests that the market might not have peaked or might not be close to a peak just yet. Realized Profit Ratio Relatively Low Compared To Previous Cycles In a recent Quicktake post…
IntoTheBlock has explained how Ethereum could challenge its all-time high (ATH) based on the current on-chain cost basis distribution. Ethereum Has Little Resistance On The Path To New ATH In a new post on X, the market intelligence platform IntoTheBlock has talked about what the on-chain cost basis distribution is like for Ethereum right now. Below is the chart shared by the analytics firm that breaks down the amount of coins that the investors bought in each price range near the current one. Looks like the levels ahead are relatively thin in terms of investor cost basis | Source: IntoTheBlock…
Ethereum has made headlines after experiencing a breakout above the $3,700 level, a key resistance zone that previously capped its upward momentum. This milestone marks a significant turning point, as the price continues to push toward new yearly highs. Following the breakout, Ethereum retraced to test $3,700 as support, solidifying this level as a potential launchpad for future price action. Top crypto analyst Jelle shared a detailed technical analysis on X, highlighting Ethereum’s breakout from a multi-year bullish pennant pattern. According to Jelle, this pattern has formed since 2021 and represents a long-term consolidation phase. The successful breakout and retest…
Ethereum has been grappling with the $4,000 resistance level since early December, facing difficulty in breaking above this critical threshold. Despite these challenges, the price structure suggests Ethereum is gearing up for a significant move. Investors and traders are closely monitoring this range, anticipating a potential breakout that could lead to new yearly highs. Top crypto analyst Jelle recently shared an insightful technical analysis on X, highlighting Ethereum’s strong bullish setup. According to Jelle, ETH is on the verge of a “monster breakout” as it continues to consolidate just below its yearly high. He suggests that once ETH decisively clears…
Bloomberg, one of the US’ leading business and financial news sources, has targeted Bitcoin and the proposed strategic reserve. In an opinion piece published December 9th, Bloomberg’s Editorial Team posed a serious policy question: Does the government need a Bitcoin strategic reserve? For the news organization, the answer is “no,” saying that the US government doesn’t need to approve the proposal and calling it the cryptocurrency industry’s “biggest rip-off yet.” The world’s top digital asset has surged by over 50% since November 4th and moved past $100,000 a few days ago. This latest Bitcoin price run has inspired crypto enthusiasts…
After a sluggish start to the week, the Ethereum price appears to be undergoing a strong recovery in the past few days. With the renewed bullish momentum, a return above the $4,000 level seems to be only a matter of time for the altcoin price. Nevertheless, the $4,000 mark is not the only target for several investors; traders appear to be already eyeing the unprecedented $5,000 level. According to a popular blockchain firm, the Ethereum price could surpass this milestone soon. Potential Drivers Of ETH Price To $5,000 In its latest weekly report, prominent on-chain analytics platform CryptoQuant discussed the…
The price of Bitcoin (BTC) experienced much turbulence in the past week dipping by almost 5% to reach a local bottom of $95,000 on Wednesday. While the crypto market leader has since recorded a market rebound returning to above $101,000, BTC has once again slipped into consolidation drawing much speculation on its next price movement. Bitcoin Strong Support Wall To Maintain Bullish Drive On December 13, popular crypto expert Ali Martinez highlighted an important development in the Bitcoin market. Using data from IntoTheBlock, Martinez shared that recent investors’ activity has formed a strong Bitcoin support wall between $94,300 and $100,250.…
Despite surging more than 65% on a year-to-date (YTD) basis, Ethereum (ETH) has been overshadowed by Bitcoin (BTC) and other cryptocurrencies like Solana (SOL) and XRP due to their extraordinary price gains throughout 2024. Analysts are increasingly bullish on ETH, projecting five-figure price targets for the second-largest cryptocurrency. Ethereum To Finally Get Its Moment? The leading smart contract platform has had a relatively modest performance in 2024. ETH was trading at $2,350 on January 1, priced slightly above $3,800, marking gains of over 65%. However, a 65% yearly increase is often seen as average in the crypto industry, particularly during…