Cryptonews360

ANALYSTS PLACE BITCOIN’S PRICE AT $170K AFTER BTC HALVING

Anthony Scaramucci, founder of Skybridge Capital, predicts Bitcoin will reach $170,000 in 18 months after the April halving of new Bitcoin supply.
Anthony Scaramucci puts it across as “The day that Bitcoin halves, multiply it by four and 18 months later and it’s been uncanny that that’s been the price of Bitcoin.”
Bitcoin’s last halving happened on May 11, 2020, when the commodity closed at $9,670, according to Yahoo Finance. Almost exactly 18 months later, the asset reached its current all-time high of $69,000.

As Bitcoin enthusiasts eagerly await the next halving event, analysts have been fervently crunching numbers and delving into historical trends to formulate predictions on where the crypto giant’s price might be headed. Their findings have given rise to bold projections, with some industry experts placing BTC’s price at an impressive $170,000 post the upcoming halving.

Bitcoin halving is around the corner
With BTC’s next halving event just months away, there is hope that the crypto coin will soar to new heights. Skybridge Capital founder Anthony Scaramucci is among the crypto bulls who predict skyrocketing Bitcoin valuations in 2024 and beyond.

Scaramucci forecasts that Bitcoin will reach at least $170,000 in the 18 months following its halving in April, when the rate of new BTC entering circulation is slashed in half. His estimate is based on past price history, with Bitcoin tending to treble within that timeframe following prior halvings.

BTC’s last halving occurred on May 11, 2020, when the commodity closed at $9,670, according to Yahoo Finance. Almost exactly 18 months later, the asset reached its current all-time high of $69,000.

Prior to the halving, BTC closed at $656 on July 16, 2016, before rising to a peak of $19,783 in December 2017.

Go back and look at Bitcoin halving cycles.. The day that Bitcoin halves, multiply it by four [and] 18 months later and it’s been uncanny that that’s been the price of Bitcoin.
#Write2Earn

What is cardano?

Is it a good investment?

I cannot say if you're late to the Cardano party (my opinion is that you are not, since the platform isn't even complete yet). I also cannot say if you should invest in Cardano vs. any other platform (and have no opinion one way or the other). What I can say is this:
Don't think about how many tokens your money will buy you; Instead, try to invest in the platform(s) you reasonably believe will perform the best within the time-frame you're most interested in.

I mean, people typically don't buy stock based on how many shares they can get (unless they're looking to takeover a company, I guess?) -- they usually just invest whatever dollar-amounts they can into the companies they think will make them the best return on their investment. Or, they hedge their bets by investing in things like index funds, etc (which, again, is an investment vehicle that isn't about owning a certain number of shares of X or Y company, but is instead about making the best return on your investment possible...)

Although, there's also staking to consider (which I guess could be viewed like dividend stocks?)... So, if any of the platforms you're invested in offer any kind of staking rewards system (Cardano will pretty soon, hopefully), then I guess it might matter how many coins you can get for your money (since regularly increasing the number of tokens you're staking will increase your staking rewards over time... assuming you care about maximizing your staking rewards on a given platform versus, say, hedging your bets by investing in a few different platforms, etc)

In the end, all I'm trying to say is that cryptocurrency investments are a lot more like traditional investments than most people seem to realize (albeit much more volatile and risky, less regulated, etc)... And so you may want to go and see what (decades of) advice there is out there for traditional investment plans, and try applying that to crypto

https://www.binance.com/en/feed/post/2284284524330?ref=754735427&utm_campaign=app_share_link

Capital, Coinbase Ventures and Paradigm. Its latest funding involved an undisclosed amount from Cynegetic Investment last December.

Ripple Could Sell XRP to Non-US VCs
Projects on the network have also secured funding to expedite their development. Velez believes this is what the XRPL ecosystem lacks. According to him, Ripple’s holding of an enormous amount of XRP, totaling 45 billion tokens as of December 2023, translates to a lack of VC firms in the ecosystem.

Amid this absence of venture capital funding, the ecosystem has not witnessed a massive influx of projects sponsored to build on the XRP Ledger and promote its adoption. Velez suggested that Ripple sell its XRP holdings to VC firms not based in the United States to this effect.

XRP Price To Hit $3.84 ATH:

Wall Street Predicts Ripple Breaking IPO Record at $500B If This Happens appeared first on Coinpedia Fintech News
Linda Jones, a Wall Street veteran, has offered an unusual perspective on Ripple’s potential IPO. After comparing Ripple to IT giants Nvidia, Apple, and Amazon based on current patterns in its multi-million valuation potential. Jones believes Ripple might set an IPO valuation record if XRP regains its $3.84 ATH.
However, her analysis hinges on hypothetical scenarios, primarily dependent on Ripple’s legal case with the SEC and a resurgence in the price of XRP. If XRP were to reach its new ATH, Jones suggests that Ripple’s escrowed XRP could be valued at an astonishing $150 billion, given Ripple’s XRP escrow balance of approximately 40.5 billion tokens.
Furthermore, Wall Street experts believe Ripple’s IPO might set a new benchmark in the current slump with a $150 billion XRP valuation. Ripple’s shares are worth $350 billion, a milestone in cryptocurrency IPOs. However, everyone wants to know how Ripple will respond when it goes public via IPO. Does its native token, flat at $0.50 for months, recover and reach a new ATH?
Logical: It can!
If it all happens, Ripple’s stock will go up; it could increase the price of XRP, too. This doesn’t usually happen, but we’ve seen it with Bitcoin. When Bitcoin’s price goes up, it makes companies that mine Bitcoin more valuable. The same could happen with Ripple – if its stock rises, people might get more interested in XRP, and its price could increase, too.
Roadblocks?
Technically, Ripple must go through the SEC’s approval process, which may be delayed unless it moves abroad. Since XRP is clear, you may bet on Ripple, but she added that you don’t anticipate them to move quickly.
XRP to Hit New ATH?
Dark Defender predicts XRP could hit $5.85, a substantial increase. Recent positive price movements suggest a short-term test at $0.66, with $0.55 as a crucial milestone for a potential bullish trend. Despite recent underperformance, XRP holds the 5th-largest market

Dogecoin, Shiba Inu and Sponge meme coins rallying

DOGE and SHIB rallying
Sponge surging, adds 50%
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Leading meme coins are rallying. Dogecoin (DOGE) is up 3.68% while Shiba Inu (SHIB) added 3.52%. Meanwhile, the upcoming meme coin, Sponge, is up 50% in the last month.

DOGE and SHIB rallying
Several positive developments in the crypto market have contributed to its recovery from last week’s sell-off.

Dogecoin, Shiba Inu and Sponge meme coins rallying - 1
Dogecoin is slightly outperforming Bitcoin today, up 3.52%, while Bitcoin is up 2.9%. Nevertheless, Bitcoin remains the winner this week, up 9%, while Dogecoin is up 5.81%.

Dogecoin, Shiba Inu and Sponge meme coins rallying - 2
However, Shiba Inu is closer to Bitcoin’s weekly performance, up 8.64%.

Dogecoin, Shiba Inu and Sponge meme coins rallying - 3
Another factor impacting Dogecoin’s price is that its community hopes the coin will be integrated into Elon Musk’s latest venture, X Payments.

You might also like: Binance to reduce stake in Korean crypto exchange Gopax, report says
However, no official announcements regarding Dogecoin’s integration have been made.

Meanwhile, Shiba Inu’s slight gains are attributed to its team’s latest plans to build Shibdentity.
#Write2Earn

Dogecoin Wallet Address Growth Hits Record High

Dogecoin (DOGE) investors are in eager anticipation due to the surprising growth in the popular memecoin and the potential rally in DOGE’s price that this could signal. Notably, renowned cryptocurrency analyst Ali Martinez shared a chart last week showing an unprecedented 1100% increase in the number of new Dogecoin wallet addresses, further fueling these expectations. This surge in network growth has led to speculation on whether DOGE’s price could reach the much-anticipated $0.10 level.
Dogecoin’s Wallet Address Growth Breaks Records
The crypto community was taken by surprise with a recent post from cryptocurrency analyst Ali Martinez on his personal account. Martinez shared a chart that revealed a staggering 1100% increase in new Dogecoin wallet addresses within just one week. According to the data, on January 29th, a record-breaking 247,240 new DOGE wallet addresses were created, bringing the number of new wallet addresses to an all-time high.

The increase in new wallet addresses has led to various speculations about its potential impact on DOGE’s price. Martinez suggests that the continued upward trend in network growth could positively affect the altcoin’s price, further igniting these speculations.

Interest in DOGE is Rising
Market analysts and enthusiasts have started to closely monitor DOGE’s price movements following these developments, with many considering the $0.10 level as a significant turning point. Especially, Martinez’s positive outlook has fueled speculation towards this level, increasing curiosity among investors. The dynamic cryptocurrency market is currently abuzz with discussions about the potential catalysts behind this wave of speculation.

Moreover, Dogecoin has recently seen a surge in interest due to speculation about corporate acceptance. The opening of an account named “Payments” by the company of famous billionaire Elon Musk, who has supported Dogecoin in the past, is cited as a primary reason for the increased interest.#Write2Earn

Scaramucci predicts Bitcoin will hit at least $170,000 in the 18 months following the halving in April when the rate of new Bitcoin entering circulation gets cut in half

With Bitcoin's next halving event just months away, optimism abounds that the cryptocurrency could reach dazzling new heights. Skybridge Capital founder Anthony Scaramucci is among the crypto bulls forecasting eye-popping Bitcoin valuations in 2024 and beyond.

Scaramucci predicts Bitcoin will hit at least $170,000 in the 18 months following the halving in April when the rate of new Bitcoin entering circulation gets cut in half. His projection is based on historical price performance, with Bitcoin tending to quadruple within that timeframe after previous halvings.

Even a “conservative” estimate of Bitcoin trading at $50,000 pre-halving would imply a $200,000 price tag post-halving, according to Scaramucci. Other optimistic forecasts come from Blockstream CEO Adam Back ($100,000+) and analysts at Standard Chartered Bank (also $100,000+).

In the long run, mega-bulls like Scaramucci see Bitcoin capturing half the market cap of gold, which would lift the cryptocurrency over $300,000 per coin. Scaramucci gave credit to BlackRock CEO Larry Fink for changing his once-negative stance on Bitcoin as digital gold.
#Write2Earn

Mining Companies Are in Danger! 😰

A bunch of public Bitcoin mining companies are on thin ice ahead of Bitcoin's upcoming halving event.

According to Cantor Fitzgerald, over 10 listed miners may get rekt and struggle to mine profitably if BTC prices linger around $40K post-halving.

Of course, halvings are generally bullish as they choke BTC supply. But they also slash miner block rewards by 50%, so inefficient operations are sweating hard.

With miners' toplines directly tied to Bitcoin prices, those with high operational costs face serious challenges if the OG crypto doesn't pump after the halving.

Mining Companies Are in Danger! 😰

A bunch of public Bitcoin mining companies are on thin ice ahead of Bitcoin's upcoming halving event.

According to Cantor Fitzgerald, over 10 listed miners may get rekt and struggle to mine profitably if BTC prices linger around $40K post-halving.

Of course, halvings are generally bullish as they choke BTC supply. But they also slash miner block rewards by 50%, so inefficient operations are sweating hard.

With miners' toplines directly tied to Bitcoin prices, those with high operational costs face serious challenges if the OG crypto doesn't pump after the halving.

Bitcoin’s Bullish Trajectory Despite Downturn, Analyst Predicts Rally Around Halving🤔

A seasoned crypto market analyst has suggested that Bitcoin (BTC) is on an upward trend despite its sharp decline from its peak of approximately $49,000 in 2024. Kevin Svenson, in his YouTube commentary, remains optimistic about the leading cryptocurrency amid the negative sentiment in the market, suggesting that the current fear, uncertainty, and doubt (FUD) indicate a bullish counter-signal.
Svenson describes Bitcoin’s current state as being in a classic expansion phase, which typically follows a contraction phase. He emphasizes that this cycle is expected to continue with another expansion phase anticipated with the upcoming halving event, where miners’ rewards are halved, potentially increasing demand for BTC.

Although acknowledging the possibility of a further price drop, Svenson believes Bitcoin could maintain its upward momentum. The halving event scheduled for April could trigger a demand surge. He warns that if Bitcoin fails to break the parabolic trend, it might test the support level around $33,000, which had previously been a target.

Svenson anticipates that if Bitcoin continues its downward trend, it would target the lower range of $33,000 along its linear ascending trend line. However, he expects a rally leading into the halving event, which could significantly boost market demand.

In conclusion, despite the current downward pressure, analyst Kevin Svenson predicts that Bitcoin could sustain its general uptrend, with the halving event likely to stimulate an increase in demand. If Bitcoin fails to surpass the parabolic curve, a support level at $33,000 is foreseen.

Bitcoin Could Fall Soon Due to TradFi, Says Hayes 🤔

Bitcoin is finally back above $40k. This important level has held back the leading cryptocurrency for days after the GBTC ETF sell-off.

But will we enjoy a bull market before the halving? Arthur Hayes predicts prices could nosedive to $30k this year if equities crumble. Then again, he would welcome such a discount to buy more.

So let's cover that story in detail in our newsletter today!

Along with Arthur Hayes’ prediction, we will cover:

SEC delays decision on BlackRock’s spot Ether ETF to September
Spanish Telecom company taps Helium network for wireless expansion
North Korean hackers stole less crypto in 2023
Memecoin Dogwifhat soars 50% after exchange listing
Hong Kong charts 3-year roadmap for fintech innovation

Why is Ripple (XRP) cryptocurrency becoming delisted?

Several cryptocurrency exchanges have delisted trading of the XRP token this week following the Securities and Exchange Commission's complaint against its developer, Ripple Labs.

Exchanges and finance platforms including Coinbase, and Okcoin said they were suspending trading of the XRP token. Wirex, a crypto-payments firm, and Ziglu, an app, followed suit, according to the blog.

The SEC complaint accused Ripple of effectively running a $1.3 billion unregistered offering with its sales of XRP, which the regulator deemed a security and not a cryptocurrency.

XRP dropped 31% on Tuesday, losing 75% in value since hitting a two-year high in early November, when investors took advantage of a weaker US dollar to pile into cryptocurrencies.

Quantum Cat’ Bitcoin Ordinals Sold for $250K at Sotheby's, the renowned auction house, announced on Monday the successful sale of a Bitcoin Ordinals inscription from the Quantum Cat project for over $250,000.

‘Quantum Cat’ Bitcoin Ordinals Sold for $250K at Sotheby’s
Sotheby's, the renowned auction house, announced on Monday the successful sale of a Bitcoin Ordinals inscription from the Quantum Cat project for over $250,000. The "Genesis Cat" Ordinals inscription, created by digital artist FAR, received over 50 bids, with the winning bid reaching 6.31 BTC, equivalent to approximately $254,000.
Earlier this month, Taproot Wizards, the project behind the Quantum Cats collection, revealed the creation of 3,333 images inscribed on the Bitcoin blockchain. The entire collection reportedly cost over $66,000 to create. The sale for the wider collection is scheduled to take place on January 29.

According to Udi Wertheimer, co-founder of Taproot Wizards, the Quantum Cats collection pays homage to an early code in the Bitcoin network called concatenate or OP_CAT. This "ancient 'op code'" was introduced by Satoshi Nakamoto in the first release of Bitcoin but was later disabled.

Michael Bouhanna, head of digital and contemporary art at Sotheby's, expressed his congratulations to the artists and collectors involved in the sale. Bouhanna revealed that the Natively Digital curated Ordinals sale generated over 26 BTC, approximately $1,097,000, with 641 bids and all auction lots sold. Notably, half of the sale exceeded their high estimates.

While this is Sotheby's first Bitcoin Ordinals-centric sale, the auction house has previously handled numerous NFT sales on Ethereum. For instance, Sotheby's has auctioned several NFTs once owned by the now-bankrupt Three Arrows Capital, including an Art Blocks NFT nicknamed "The Goose," which sold for $6.2 million in June 2023.

Will DOGE Lead the Memecoin Rally Again?

DOGE To Become X’s Payment Method?

🤔🤔
Such hype, much gains for Dogecoin bagholders this week after X triggered rumors of enabling DOGE payments!

The memecoin pumped nearly 18% over the weekend- reaching a 7-day high.

This buying frenzy ignited shortly after X revealed its '@XPayments' Twitter account on Friday.

Despite radio silence so far from the mega platform, the timing triggered speculation that DOGE could feature in X’s future functionality.

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What is cardano?

Is it a good investment?

I cannot say if you're late to the Cardano party (my opinion is that you are not, since the platform isn't even complete yet). I also cannot say if you should invest in Cardano vs. any other platform (and have no opinion one way or the other). What I can say is this:
Don't think about how many tokens your money will buy you; Instead, try to invest in the platform(s) you reasonably believe will perform the best within the time-frame you're most interested in.

I mean, people typically don't buy stock based on how many shares they can get (unless they're looking to takeover a company, I guess?) -- they usually just invest whatever dollar-amounts they can into the companies they think will make them the best return on their investment. Or, they hedge their bets by investing in things like index funds, etc (which, again, is an investment vehicle that isn't about owning a certain number of shares of X or Y company, but is instead about making the best return on your investment possible...)

Although, there's also staking to consider (which I guess could be viewed like dividend stocks?)... So, if any of the platforms you're invested in offer any kind of staking rewards system (Cardano will pretty soon, hopefully), then I guess it might matter how many coins you can get for your money (since regularly increasing the number of tokens you're staking will increase your staking rewards over time... assuming you care about maximizing your staking rewards on a given platform versus, say, hedging your bets by investing in a few different platforms, etc)

In the end, all I'm trying to say is that cryptocurrency investments are a lot more like traditional investments than most people seem to realize (albeit much more volatile and risky, less regulated, etc)... And so you may want to go and see what (decades of) advice there is out there for traditional investment plans, and try applying that to crypto