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Bitcoin is experiencing a psychological surge and a correction is unlikely for now. But when fundamentals ultimately take precedence, panic can ensue. Concerns about Bitcoin market overheating grow [BTC] Despite the steep decline in the RSI, the stock soared above the $68,000 threshold, breaking a four-month slump. As a result, a trade just above this key level could signal a potential all-time high for BTC. If this range is confirmed as a resistance point, a price correction could be on the horizon, which could force a massive capitulation. but, Bitcoin’s meteoric rise — psychology over fundamentals First, it is important…
Economists at the European Central Bank (ECB) are sounding the alarm about the potential social impact of rising Bitcoin prices. They believe that virtual currency is based on Satoshi Nakamoto's vision of a global payment system.n investment assets. In a recent paper, ECB economists Ulrich Bindtheil and Jürgen Schaaf expressed concern that Bitcoin's rise in value would primarily benefit early adopters. This trend could result in significant financial challenges for subsequent investors and those who do not hold Bitcoin. ECB calls for measures to counter Bitcoin investment perception The authors highlight how thought leaders and celebrities have contributed to Bitcoin's…
From 2023 to 2024, the number of Bitcoin millionaires increased by almost 111%, reaching 85,400 people in 2024, or 49.6% of all crypto millionaires. When it comes to cryptocurrency billionaires, Henry & Partners revealed that five out of six new entrants this year also traced their success to Bitcoin. In the 2024 Crypto Asset Report. New trends of virtual currency millionaires and billionaires Since 2023, the number of people worldwide with at least $1 million in crypto assets has increased by 95% to 172,300. Bitcoin millionaires now represent nearly 50% of all cryptocurrency billionaires worldwide, reflecting a year-over-year increase of…
A significant amount of Ethereum is held by entities that are not actively spending or moving funds. According to the latest CryptoQuant data, the total number of Ethereum (ETH) in storage addresses has exceeded 19 million. As of October 18th, the total amount of Ethereum in storage addresses has almost doubled compared to January 2024. In the first month of 2024, this indicator was 11.5 million people. At least one analyst believes this number will exceed 20 million by the end of the year. why? Ethereum ETF Approved “A new era began with the formal approval of Ethereum spot ETFs…
$50 billion worth of Ethereum is locked in storage wallets, an increase of 65% since the beginning of 2024, reflecting the growing confidence of long-term investors in the crypto market. Cumulative value of Ethereum reaches $50 billion One crypto analyst estimates that there is about $50 billion worth of Ether in storage wallets at the moment, an increase of almost 65% compared to early 2024. According to an analysis report published by CryptoQuant contributor Burakkesmeci on October 20, the total number of Ethereum in storage addresses exceeded 19 million by October 18, 2024. $50.2 billion held…
advertisement     RCO Finance (RCOF) is a much better hedge than Solana (SOL) or Ethereum (ETH). In other words, RCO Finance is a very new project and offers unprecedented utility. Solana and Ethereum, on the other hand, are established players. On the other hand, experts say that the utility of RCO financing exceeds the crypto market, so it will rise regardless of the outcome. Increased bot activity holds Solana's future It's no secret that Solana is one of the most used networks for money transfers and memecoin transactions. As a major meme coin hub, Solana has seen a significant…
'Make Bitcoin Great Again' hats on sale at the Bitcoin 2024 conference in Nashville, Tennessee, USA on Saturday, July 27, 2024 Through large donations to political action committees, the sector will become the 2024 president. Emerging as a powerful player in elections.Bloomberg | Bloomberg | Getty ImagesAs the 2024 election draws to a close, a major pro-crypto super PAC is funneling the bulk of its final donations to close out the House races as part of an effort to push candidates favorable to the group's agenda to the top. is.FairShake is one of the top spending companies in any industry…
Ethereum co-founder Vitalik Buterin believes that proof-of-stake (POS) centralization poses a significant threat to Ethereum. In POS centralization, large stakes dominate and small stakes participate in a large pool.Centralization increases the risk of issues such as 51% attacks and transaction censorship. Additionally, there is the risk of value extraction, where a small group benefits at the expense of Ethereum users.According to Buterin, the risk exists in building blocks and providing staking capital.problemEthereum follows a Proposer-Builder Separation (PBS) protocol for block construction. This means that the work is split between validators, who propose blocks and conduct auctions and are responsible for…
Following crypto analysts say Bitcoin (BTC) is moving closer to confirming a breakout after repeatedly resisting stiff resistance. A pseudonymous trader, Recto Capital, told his 504,000 followers on social media platform X that BTC is one day away from validating its breakout from the seven-month range. “Bitcoin is once again putting pressure above the top of the resistance area (red). Bitcoin only needs one daily close above red resistance to position itself for a solid breakout from here. Daily closing prices are essential to ensure that there is no upside above resistance. ” Source: Rekt Capital/X At the time of…
Bitcoin and many other cryptocurrencies have continued to see significant price increases over the past few weeks. In particular, Bitcoin is gradually approaching its all-time high, and even though it recently topped $68,000, its increase rate remains at only 8%. Moving away from setting new price records. Interestingly, this influx into Bitcoin is increasing the cryptocurrency's dominance over altcoins. According to the data, Bitcoin's market power now stands at 65% of the total market capitalization, the highest in three years. This begs the question whether altcoin season will materialize within the current market cycle. Bitcoin leaves Ethereum and other altcoins…