Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Bitcoin price prediction: Analyst says BTC is poised for a retest of $28,800

  • Bitcoin price has dropped below $30,000 to currently trade near $29,480.
  • Crypto analyst Rekt Capital says BTC price could retest $28,800 and establish it as a major support area.
  • BTC price bounced above $31,000 last week, having struggled to break past the anticipated buffer zone.

Bitcoin is trading around $29,479, about 3% down in the past 24 hours and now just 4% up in the past seven days. After trading to highs above $3,100 and then retreating to current levels, the market might have to brace for a retest of $28,800.

That’s today’s Bitcoin price prediction as shared by crypto analyst Rekt Capital.  

Bitcoin price at key area, with possible dip to $28,800

Following a retracement to lows of $15,500 in the aftermath of the FTX debacle market rout, Bitcoin price saw a decent flip in 2023. An upswing off the post-death cross retracement of the bear market saw BTC recover more than 80%.

According to Rekt Capital, the rally to $30,000 area had BTC trending at an area that has previously acted as a stubborn resistance as well as support zone on the monthly chart. Bulls managed to breach the supply wall last week, but the $28,800 was equally resolute and despite a decent weekly close above the zone, a fresh dip to the level is likely.

Such a retest might be what buyers need to solidify it as a demand reload area. Rekt says a successful retest of the level could reenergize bulls for another upward move.

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CME to expand Bitcoin and Ether options expiries in May

  • CME group says demand from clients has increased amid the heightened market volatility.
  • The marketplace plans to expand expiries for its standard and micro-sized BTC and Ether options contracts.
  • Approval would see the derivatives platform make the changes on 22 May, 2023.

Derivatives marketplace CME Group is seeking to expand its options expiries for Bitcoin and Ethereum, according to an announcement published today, 17 April 2023.

The platform, which says the plans are subject to regulatory approval, indicates that the plan is to have its suite of crypto options for BTC and ETH contracts expiries be available every business week day – Monday to Friday.

Currently, expiries for micro-sized options on the two crypto futures are available on Monday, Wednesday and Friday. The CME also offers monthly and quarterly expiries for BTC and ETH options on its futures contracts.

If approved, the company will look to have the new expiries available beginning 22 May.

Client demand for BTC and ETH products

Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products said the goal is to have market participants access options contracts that offer “greater precision and versatility” for managing short-term Bitcoin and Ethereum price risk.

“Against a backdrop of heightened market volatility in the digital asset sector, we continue to see clients turn to a trusted, regulated venue like CME Group for reliable and efficient cryptocurrency risk management products,” Vicioso added.

CME Group has seen an increase in demand for Bitcoin and Ethereum futures and options. The top two assets by market cap are also the two best cryptocurrencies for crypto derivatives trading. 

The bitcoin’s numbers in Q1, 2023 for CME achieved a notional of over $3 billion, a record in terms of daily average. The marketplace also saw a record BTC options contracts of 2,357 traded on 22 March 22. Open interest rose to an all-time high of 14,700 contracts on 31 March and could soar further amid a long-term bullish Bitcoin price prediction, particularly going into the next halving.

The all-time high for Ether options contracts was 311 on 22 February, while OI hit a record 1,800 contracts on 24 March.

The post CME to expand Bitcoin and Ether options expiries in May appeared first on CoinJournal.

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Bitcoin vs Ethereum: which one is a better investment?

  • Scott Melker shares his view on Bitcoin and Ethereum.
  • He also discussed ETH’s recent Shanghai upgrade.
  • BTC and ETH are currently up about 80% for the year.

Both Bitcoin as well as Ethereum have pushed hard to the upside in recent sessions – leaving investors wondering which of the two is a better investment.

Pro says BTC and ETH are separate assets

Interestingly, though, crypto specialist Scott Melker doesn’t see it fair to compare the two since they’re more like apple and oranges. Speaking with Yahoo Finance Live, he said:

I view Bitcoin as digital gold. Store of value, flight to safety. Ethereum is more of a tech investment. It’s internet of value. So, you can love one or both. You don’t have to choose.

Part of the reason for the ongoing surge in Bitcoin and Ethereum may have been the monthly CPI print that confirmed inflation was still well above the Fed’s 2.0% target in March.

Both BTC and ETH are currently up about 80% for the year.

Melker’s take on Ethereum’s Shanghai upgrade

Ethereum, in particular, has been in news since last month because of its so-called Shanghai upgrade that enabled holders to unstake the assets for the first time.

Discussing the hard fork on Yahoo Finance Live, Melker who hosts “The Wolf of All Streets” podcast said:

It’s a huge development for ETH, major step in right direction. There hasn’t been huge demand to withdraw. There are a lot of people actually waiting to deposit. We’re seeing net inflows.

Also recently, Ethereum co-founder Vitalik Buterin reiterated the need to fix scaling issues before the next bull run.

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Warren Buffett still sees bitcoin as a ‘gambling token’

  • Bitcoin is up again following the U.S. inflation data on Wednesday.
  • Warren Buffett reiterates that BTC doesn’t have any intrinsic value.
  • BTC is currently up a whopping 80% since the start of the year.

Bitcoin has climbed a whopping 80% since the start of the year but the “Oracle of Omaha” is still not convinced that it’s an investable asset.

Buffett reiterates his view on Bitcoin

Legendary investor Warren Buffett continues to see the bitcoin as “rat poison squared”. Spending money on it, he reiterated today, is more akin to gambling than investment.

Bitcoin is a gambling token and it doesn’t have any intrinsic value, but that doesn’t stop people from wanting to play the roulette wheel.

Buffett is one of the most notable critics of cryptocurrencies at large.

Interestingly, though, his conglomerate Berkshire Hathaway increased its stake just a day earlier in Sumitomo Corp despite the Japanese trading company’s affiliations with Ripple.

Bitcoin is up after the U.S. inflation data today

Bitcoin is trading comfortably above the $30,000 level on Wednesday following the update from the U.S. Bureau of Labour Statistics which confirmed that inflation continued to ease in March.

And Buffett agreed that there’s no telling when the upside will exhaust. On CNBC’s “Squawk Box”, he said:

That’s predicting when speculation will end, when gambling instinct will go away, when more people would want to get out. If I were good at that, I’d make a lot of money in different things.

Remember that the total supply of bitcoin is scheduled to have in April or May of next year – an event that’s historically unlocked more upside in BTC.

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Bitcoin Price Prediction Shoots For The Moon Bringing New Token ASI Along for the Ride

  • BTC rising 50% has produced a recovery in the crypto market
  • AltSignals (ASI) is a highly promising new token launch
  • ASI should outperform BTC percentage rise over the coming months and years

After some significant movements in the crypto markets, the Bitcoin price prediction forecasts further upside. However, experts suggest that AltSignals’ new token, ASI, should outperform the Bitcoin price prediction in percentage terms before the end of the year.

AltSignals is an industry-grade trading platform that is expanding its blockchain offering. Here’s why it could be the highest-performing project of its kind in 2023 and beyond.

AltSignals is launching during a widespread market recovery

The Bitcoin price prediction has flipped bullish after some promising price action at the beginning of 2023. BTC has risen over 50% from its recent lows and has been driving a recovery in the crypto market.

After many altcoins fell over 90%, the BTC recovery has produced widespread gains across the crypto market. This comes at a time when AltSignals, a highly successful crypto trading community, is launching its crypto presale event.

The ASI token has a high potential for future returns, especially as the crypto market recovers following a positive Bitcoin price prediction. A BTC recovery typically signals the beginning of bullish crypto market movements, and ASI is well-positioned to benefit over the coming months and years.

What is Bitcoin?

Bitcoin (BTC) is the first blockchain-based cryptocurrency. The Bitcoin blockchain uses a proof-of-work protocol to achieve consensus in a distributed computer network. This process is highly complex by design, and the economic costs of overriding the consensus mechanism make attacking the BTC network practically impossible.

Since it was first launched in 2009, BTC has become the largest cryptocurrency by market capitalization and has been adopted by governments and financial institutions worldwide. The rate of progress for the Bitcoin price prediction is a testament to its innate scarcity – there will only ever be 21 million BTC, which means that constantly rising demand is destined to push the price upwards.

Bitcoin price prediction: Can BTC reach over $30,000 in 2023?

The Bitcoin price prediction for 2023 targets $30,000 as a key level. If BTC can break through resistance at $29,000, then it is likely to reach $30,000 and above before the end of the year.

What is AltSignals?

AltSignals is one of the largest crypto market trading communities in Web3. The platform has consistently provided profitable trading signals to its users since 2017 and has an impressive track record for success. For example, the Binance Futures Report for Feb 2023 has shown a win rate of 90%.

The project is now expanding its offering and will introduce several useful features to its community of crypto market traders. The ASI token, which is being released at $0.012 during the presale, is integral to this development.

How will the ecosystem utilize ASI?

The ASI token will give holders exclusive access to premium trading signals in the crypto market using ActualizeAI. ActualizeAI is a groundbreaking AI-powered development tool that combines several leading technologies with crypto market data. After analyzing a wide variety of different indicators, ActualizeAI will generate profitable trading signals on a consistent basis.

ASI can be used to access the AI Members Club. This premium offering will grant early participation in AltSignals’ new trading tools. With massive profits already being made through AltSignals’ AI tools, this feature can give traders a real edge in the crypto markets.

By holding the ASI token and joining the AI Members Club, users can gain access to exclusive investment opportunities and much more. Members can even help the AltSignals development team improve their tools by participating in early tests and sharing feedback with the team.

Could ASI reach $1 in 2023?

The ASI token represents a strong existing project that is now branching out further. AltSignals has a large existing user base and extensive token utility, making it a prime investment opportunity over the coming years.

The AltSignals crypto presale will raise the price of ASI from $0.012 to $0.02274 before the token goes live on exchanges. At this point, the price of ASI could go parabolic, especially if the AI development coincides with rising prices across the crypto market.

Experts are forecasting a $1 price level for the ASI token before the end of 2023 – a 45x price rise from the end of the presale. As a reputable community-driven project that will in the future utilize advanced AI tools, AltSignals certainly has massive potential.

AltSignals vs. Bitcoin price prediction: Why buy ASI?

While Bitcoin is expected to kickstart a recovery for the crypto markets, it is unlikely to outperform AltSignals in 2023 and beyond if a bull market begins. Early investors in the ASI crypto presale can expect significant returns over the coming years, as the project combines several ground-breaking technologies to deliver a comprehensive user trading experience.

AltSignals has the potential to become an industry-leading AI trading project on the blockchain. However, a limited number of ASI tokens are being released during the presale event, and it is first come, first served. The ASI token could be the best buy of 2023 as investors prepare for the next bull run in the crypto market.

You can participate in the AltSignals presale here.

The post Bitcoin Price Prediction Shoots For The Moon Bringing New Token ASI Along for the Ride appeared first on CoinJournal.