Author: finance
Ethereum (ETH) is making strides in the digital currency market as it soared from $3,050 to $3,400 within a span of under three days. This sudden uptick has infused a fresh wave of optimism among the crypto enthusiasts who predict ETH will fetch considerable profit this year. The recent positive trend in Ethereum’s market has infused a sense of bullish sentiment within the crypto community, supported by the forecasts of additional upside potential. Condensed Holding Period Signifies Confidence in Ethereum A prevailing bearish trend had encapsulated Ethereum since the end of December, which resulted in a substantial drop in its…
In an unexpected development, the President of the European Central Bank, Christine Lagarde, has asserted that Bitcoin, the renowned virtual currency, will not find a home in European Union’s central bank vaults. According to Lagarde, Bitcoin lacks the essential attributes of a standard reserve asset, including liquidity, security, and stability. This statement by Lagarde is in response to a recent discourse regarding the role Bitcoin could potentially play in national reserves, initiated by a proposal from a Czech central banker. The Unfeasibility of Bitcoin as a Reserve Asset: Viewpoint of ECB The European Central Bank’s categorical rejection of Bitcoin as…
As increasing numbers of investors turn to cryptocurrencies for potentially high returns, Bitcoin (BTC) remains a dominant player in the crypto market. BTC’s volatility this week highlights the complex and unpredictable nature of cryptocurrencies. From a remarkable low of $97K to a striking high of $106K, BTC has experienced substantial price fluctuations before finally stabilizing around $102K. Current market indicators suggest that BTC’s future performance will see either an impressive breakthrough past formidable resistance levels or another dip is looming. BTC’s performance over the long term, compared to traditional investments, reveals a trend favoring Bitcoin as a winning investment. Renowned…
Doubts are mounting amongst investors as Ethereum (ETH) undergoes severe selling pressure. The bearish trend has resulted in the struggling performance of ETH compared to Bitcoin and other altcoins. Its inability to pick up momentum along with the rise of Bitcoin has increased the atmosphere of uncertainty in the market. The reason for this concern is the observed lack of correlation between Bitcoin and Ethereum, which is evidenced by a 30-day price correlation of -0.06. Divergence in Ethereum’s Market Performance Since the end of December, Ethereum has been in a persistent downtrend, losing over 28% of its value from its…
The world of cryptocurrency has been rife with speculation and predictions amidst recent fluctuations in Bitcoin’s value. Through its ups and downs, the king of cryptocurrencies has recently seen a dip below a historically critical moving average, causing ripples of concern among traders and investors. Amid the bearish vibes, the jury is still out on whether this apparent downturn is a passing phase or an alarm bell for a deeper descent. As Bitcoin labors to find solid ground, the question remains: Will the bulls soon regain their reign, or are the bears ready to assume command? This article delves into…
In the fast-paced world of exchange-traded funds (ETFs), the latest contender stepping into the ring is none other than Polkadot. 21Shares has made an official application to the SEC for a Polkadot ETF, with the intention of having it launched on the Cboe BZX Exchange—the very same platform that premiered the original Polkadot exchange-traded product (ETP) back in 2021. Engineered to facilitate the collaboration of various blockchains, Polkadot represents an investment opportunity that’s poised to captivate mainstream investors should the ETF be approved. This could be the tipping point for Polkadot’s adoption and demand, especially as institutional interest in cryptocurrency…
The trading arena has long been graced by the expertise of Peter Brandt, a seasoned trader who has been part of this dynamic environment since 1976. His remarkable career trajectory is marked by extraordinary annual returns, peaking at over 600%, and only three years in which losses were incurred, all below 8%. Owing to his consistent accuracy and vast experience, he has rightfully earned the esteemed title of a renowned trader and analyst. More recently, he identified a bullish pattern in Ripple’s XRP that anticipates considerable profits for its future investors. Understanding Peter Brandt’s XRP Findings Ripple’s XRP token gained…
The world of digital currencies experienced yet another significant milestone when Ethereum (ETH) breached the $3,400 threshold. Outpacing its closest rival Bitcoin (BTC), this marks the second day in a row where the second-largest cryptocurrency by market capitalization has maintained its winning streak. Moreover, the World Financial Liberty (WFL), a decentralized finance (DeFi) project linked to Donald Trump, continues to bulk up its ETH holdings. Ethereum’s Soaring Flight above the $3,400 Mark The digital asset market is witnessing a momentum shift toward Ethereum, which recently surpassed the $3,400 mark. The asset experienced a significant 4.4% surge within the last 24…
The Ethereum (ETH) cryptocurrency continues to demonstrate a robust bullish trend, with technical analysis pointing towards an imminent rally. According to a crypto market analyst, Ethereum could possibly breach its previous all-time high this March, potentially rising above the $4,880 per token mark. Ethereum: Poised for a Robust Price Surge Recent crypto market assessment by an analyst known as TedPillows suggests ETH is transitioning into a short-term expansion phase after a period of accumulation and market manipulation. This shift from a phase of consolidation implies an impending significant price surge for Ethereum, pushing towards new uncharted highs. Ethereum’s Momentum: A…
Cronos Labs, a leading name in the blockchain industry, has recently unveiled a new development in collaboration with LayerZero, another contemporarily influential blockchain platform. On January 31, they revealed that the LayerZero cross-chain messaging protocol is now live on two major technologies; Cronos Ethereum (ETH) Virtual Machine (EVM) and Cronos zero-knowledge EVM (zkEVM). The protocol, which is now accessible on both the mainnet and testnet, is all set to empower developers in building cross-chain bridges, expanding token ecosystems, and creating apps that link Cronos users to over 115 supported chains, such as Ethereum and Solana. A New Era of Cross-Chain…