The Elliot Wave theory has gained significant popularity among Bitcoin analysts due to its effectiveness in forecasting the future price movements of the cryptocurrency. In a recent analysis by pseudonymous crypto analyst XForceGlobal, the analyst utilized the 5-wave Elliot Wave theory to predict the potential trajectory of the Bitcoin price. According to XForceGlobal’s analysis posted
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The cryptocurrency market has been experiencing heightened volatility recently, leading to fluctuations in investor sentiment. Bitcoin (BTC) saw a drastic price increase to nearly $70,000 on July 29, only to drop below $66,000 the next day, currently trading around $66,300 according to CoinGecko’s data. This correction was further exacerbated by the news of the US
Cardano’s ADA is currently facing a potential trend reversal as it forms an inverted hammer on its weekly chart. This pattern typically indicates a shift from bearish to bullish sentiment, with buying pressure overcoming initial selling. However, confirmation is crucial, and ADA’s technical indicators present a mixed picture. The Average Directional Index (ADX) is currently
Cardano (ADA) has recently experienced a significant surge in Exchange Traded Product (ETP) inflows, with a staggering 300% increase in capital coming from institutional investors. This unexpected influx of funds has sparked optimism among market participants, potentially setting the stage for a bullish trend as the Chang hard fork approaches. According to a report from
Samuel Edyme, also known as HIM-buktu, is a multifaceted individual with a passion for writing, journalism, and trading. His journey in the crypto universe is one filled with ups and downs, ultimately shaping him into the knowledgeable and determined individual he is today. Unlike many success stories, Edyme’s foray into the world of cryptocurrency did
21Shares, a subsidiary of 21Shares AG, has recently announced the integration of Chainlink Proof of Reserve on the Ethereum mainnet. This integration is aimed at improving the transparency of the Ethereum reserves that back the 21Shares Core Ethereum ETF (CETH). The ETF is physically backed by Ether and tracks its performance, providing investors with a
BlackRock, a financial giant, has recently made it clear that they do not have any immediate plans to launch a Solana (SOL) ETF. This decision comes despite the overwhelming success of their Bitcoin and Ethereum spot ETFs that were introduced earlier in the year. The company’s Chief Investment Officer, Samara Cohen, mentioned in an interview
Shiba Inu’s price faced a 3% dip recently as the cryptocurrency market took a hit due to the US government moving $2 billion worth of its bitcoin holdings to another address. Despite this setback, there are some indicators within the Shiba Inu ecosystem that suggest a potential rally might be on the horizon. One significant
The trading volume ratio of decentralized exchanges (DEXs) has reached an all-time high compared to centralized exchanges (CEXs). This significant milestone was highlighted by Uniswap founder Hayden Adams, who pointed out that the “DEX market share is at an all-time high relative to CEX.” The trend of DEXs outperforming CEXs has been on the rise
The U.S. Securities and Exchange Commission (SEC) has made a significant decision to pause its allegations that Solana (SOL), Cardano (ADA), and Polygon (MATIC) are unregistered securities in the ongoing lawsuit against Binance. This move comes after the SEC filed a joint status report in the U.S. District Court for the District of Columbia, stating