Kategorie: Crypto News

• Edelman says Bitcoin could rise to $150,000 after the 2024 halving event.

• A strong Bitcoin could boost the sentiment for other cryptocurrencies like Chancer.

• Analysts expect up to a 1,000% price increase for Chancer.

After a prolonged bear crypto market, Bitcoin is expected to look up to the stars again. The upcoming halving event somewhere in April 2024 is expected to boost prices. Edelman Financial Services, which manages over $291 billion in assets, expects a fixed-figure price for BTC. The halving event could also be decisive for other cryptos like Chancer. 

Bitcoin could surpass $150,000 after 2024 halving

The prediction is according to Edelman founder Ric Edelman. The analyst expects the milestone to be reached a few months after the halving event. This is not the first time Bitcoin has seen such huge predictions from analysts.

Edelman believes the crypto sector is in a transformative phase. The stage is characterised by increasing maturity and behavioural shifts. According to Edelman, these market dynamics and regulatory actions are cleansing the sector. The cleansing will make digital assets more attractive to individual and institutional investors. 

Recent developments will also boost crypto. Edelman references Ripple’s win against SEC as a critical development that will boost crypto adoption. Also recently, Grayscale won a case against SEC, providing a further greenlight to the sector. Analysts led by JPMorgan believe the victory paves the way for the approval of the first spot Bitcoin ETF. 

But the 2024 halving event will be a bull catalyst for Bitcoin, per Edelman’s predictions. Edelman notes that Bitcoin’s halving is historically a bullish catalyst. He says the halving could unlock Bitcoin’s value, helping it to reach $150,000 by the summer of 2025.

Role of Chancer and how it benefits from a bullish Bitcoin

Chancer is a new blockchain platform that powers peer-to-peer betting. Investors can create a Chancer market and bet on any event they feel like on a secure blockchain platform. The users bet under their own rules and odds.

The proliferation of Chancer challenges traditional betting, where markets are established by bookmakers. By allowing investors to create P2P markets, Chancer enables more people to get involved in betting. There are rewards for creating Chancer markets and sharing the platform. 

Chancer will be the token investors can use to claim winnings on successful bets. They will also get paid using the token for creating the P2P markets or spreading Chancer news. The token will also be available for staking to investors seeking passive incomes. 

Initially, Chancer could benefit from speculation around its novel betting platform. As the token lists in Q3 2023, the price could start to gain value. 

Conversely, a bullish Bitcoin is always a positive catalyst for the rest of the crypto sector. As the world’s biggest cryptocurrency, Bitcoin demand boosts the sentiment for risky assets. Thus, the projected bull market by Edelman could help Chancer and increase the token’s value.

 Is Chancer a sustainable blockchain?

The prolonged bear market taught that only the strongest blockchains and projects survive. Once the bull market returns, investors could focus on valuable projects with solid use cases.

Betting is among the strongest and fastest-growing sectors. Online sports betting alone is expected to grow by 9.94% CAGR between 2023 and 2027. The growth rate will take the total market volume to $63.62 billion by 2027.

Chancer will capitalise on the strengths of the entire betting sector to grow. It will also introduce new betting events that will see it capture a considerable market. This means it could be a sustainable project to deliver consistently to investors.

What is the 2023 price potential of Chancer?

Chancer will be listed in Q3 2023 amid huge expectations. 2023 might be a volatile year for the token due to intense speculations. 

Analysts have earmarked a 1,000% price increase, although this could prove overambitious in the short term. A triple-digit price increase in 2023 could be more realistic, with more than 10x in the future.

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• JPMorgan is said to be launching a blockchain-powered token to revolutionise its global payments.

• Shiba Memu takes on meme tokens with an AI application amid the hunt for new crypto use cases.

• Shiba Memu could increase by up to 50x, given the historic price moves of meme cryptocurrencies.

The hunt for new solutions in a blockchain-based economy is on. JPMorgan is the latest to consider a blockchain-based deposit token for global payments. Meanwhile, Shiba Memu is bringing a new marketing perspective through blockchain. Investors have bought over $2.58 million worth of Shiba Memu in a fast-occurring presale. 

JPMorgan to launch a payments token

Big banks are never shy of opportunities when they knock. In its latest indication of blockchain and cryptocurrency forays, JPMorgan seeks a payment token. The latest reports indicate that the banking giant has laid the infrastructure for the new payment token. 

The bank expects to accelerate international settlements and payments with the blockchain solution. This is not the first time JPMorgan has let its blockchain and cryptocurrency pursuits known.

In June, the company said it had processed about $300 billion via JPM Coin launched in 2019. With the new token, JPMorgan expects to process instant transactions, leveraging blockchain technology. The token is also expected to reduce transaction costs by eliminating clearinghouses and counterpart banks.

JPMorgan’s continued push in crypto underlines a sector with immense and unexploited opportunities. Big banks are entering the space, which is expected to dominate future payments. Shiba Memu comes into the scene with an innovative use case that fills another unexploited opportunity.

Shiba Memu AI marketing angle

Shiba Memu enters the meme token space with its own vibe – an AI application. To put it better, Shiba Memu will leverage artificial intelligence to self-market and fight off rivals. 

AI is taking a more critical role now than ever, making Shiba Memu unique. AI lets Shiba Memu research and find the most creative ideas in marketing. Interestingly, AI can work all the time and source information far and beyond. With this capability, the team expects Shiba Memu to achieve more than 100 marketing agencies combined. 

Shiba Memu won’t keep all the marketing information to itself. Its community can interact with the AI. Users can ask the AI questions, give feedback, and get informed on marketing strategies. The engagement is one of its kind, making Shiba Memu a truly user-led platform. That means Shiba Memu won’t crave attention like its meme peers, which rely on influencers.

Is Shiba Memu a good investment?

What investors consider a good investment is quite a subjective topic. However, Shiba Memu could be suitable for investors looking for tokens that can quickly gain value. 

From past price action, meme cryptocurrencies have been the biggest earners, with split-second gains. Shiba Memu carries a similar potential when listed. It means by capitalising on initial price movements, investors can return big. 

A potential worry for most investors is the high volatility of meme cryptocurrencies. Sharp drawdowns accompany huge price gains. Although such a risk cannot be wished away for Shiba Memu, its AI angle makes it a sustainable project. Over time, the value of Shiba Memu could stabilise and deliver consistent gains to long-term investors. 

Shiba Memu presale and price prediction

Shiba Memu launched with a unique presale. The token’s price increases every day at 6 PM GMT. It means the investment increases every 24 hours for early investors. 

On price prediction, meme cryptocurrencies always surprise markets. These cryptocurrencies attract a lot of online chatter, which drives demand, suddenly pushing prices higher. Over the past months, new meme tokens have risen by up to 10,000%. This doesn’t mean that Shiba Memu will see such margins. It just shows how much potential the token carries once listed. 

Given the above, Shiba Memu could rise 10x, 20x, or even 50x when listed. The overwhelming presale suggests the likely price surge.

The post JPMorgan reportedly considers a payment token as Shiba Memu raises $2.58 million appeared first on CoinJournal.

• Cryptocurrencies moved sideways this week as Bitcoin remained below $26,000.

• XDC Network, Cronos, and Astar were among the biggest gainers.

Cryptocurrency prices had a relatively muted performance this week as a sense of fear spread in the market. Bitcoin was stuck at $26,000 while American indices like the Dow Jones, Nasdaq 100, and S&P 500 retreated. The US dollar index (DXY), on the other hand, staged a strong recovery as it soared to the highest level in five months.

XDC Network price forecast

XDC Network has had one of the best performances this year. It jumped from a low of $0.024 in January and peaked to a high of $0.093 in August. Recently, however, the token has pulled back and is now ~40% below the highest level this year. It is now consolidating at the 25-period and 50-period exponential moving averages. 

The token has also moved slightly above the important support level at $0.045, the highest level in April this year. At the same time, its volatility has slumped, as evidenced by the falling Average True Range (ATR) indicator, which has fallen to the lowest level since July 25th. 

Therefore, the outlook for the XDC Network is bearish, with the initial support being $0.50, the lowest level on August 26th. Traders should focus on the resistance at $0.067 since a move above that level will see it continue its bullish trend to $0.08.

Cronos price prediction

Cronos, formerly known as Crypto.com coin, has been in a bearish trend as demand for the coin wanes. Its DeFi ecosystem has also seen outflows as the total value locked (TVL) slipped from over $4.4 billion to less than $500 million. Tectonic and VVS Finance are no longer the popular DeFi protocols they were earlier on.

Cronos price found a strong support at $0.050, where it struggled to move below in June and August of this year. It remains below the 50-day moving average and the descending trendline shown in green. The Stochastic Oscillator has also tilted upwards. 

Therefore, the CRO price outlook is neutral for now. More downside will be confirmed if the price drops below the support at $0.05. If this happens, the next level to watch will be at $0.45. The alternative scenario is where it rises and retests the descending trendline at $0.057.

How to buy Cronos

Astar Network price forecast

Astar Network is a leading blockchain on Polkadot’s ecosystem. Recently, the ASTR token has been in a bullish trend after it bottomed at $0.0322 on June 10th. Precisely, the coin has jumped by more than 70% to the current $0.06. 

Along the way, the coin has formed an ascending channel shown in green. It has also jumped above the 23.6% Fibonacci Retracement level while the Stochastic Oscillator has drifted upwards. Therefore, the Astar token price will likely continue rising as buyers target the key resistance point at $0.070, the highest point on August 23rd, and the 38.2% retracement level.

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