According to Odaily, QCP Capital, in its latest market analysis report, has made some significant predictions about the future of Bitcoin and Ethereum. The firm suggests a bearish outlook for Bitcoin due to potential supply pressures from the distribution of Mt. Gox (approximately $9.6 billion) and the hacking incident at DMM (approximately $305 million).

On the other hand, QCP Capital is bullish on Ethereum. The firm anticipates that Ethereum spot ETFs may start trading earlier than expected, possibly in June. The U.S. Securities and Exchange Commission (SEC) has urged applicants to submit their S-1 forms by May 31. This development could potentially boost Ethereum's market position and value.

These predictions provide valuable insights into the possible future trends of these two major cryptocurrencies. However, as with all market predictions, these should be taken with a degree of caution. The cryptocurrency market is notoriously volatile, and many factors can influence the value of Bitcoin and Ethereum.

The JasmyCoin price rose 25% in the last 24 hours to trade at $0.0311 as of 03:58 a.m. EST on trading volume that skyrocketed 410% to $577 million.

This comes after Japan announced the installation of its My Number card function onto iPhones next spring. Investors took this to be bullish for the community and that the Bitcoin of Japan, JASMY, is set to make its way onto Apple iPhones. But there is no confirmation of this from Apple, JasmyCoin or Japan.

JASMY has been linked with Japan’s My Number Card itrust authentication service in the past, with its integration set to enable authentication and encryption using blockchain technology.

JasmyCoin Price To Sustain Its Bullish Stance Over Its Major Support

JASMYUSD Chart Analysis Source: GeckoTerminal.com

With Apple’s partnership news, JASMY was able to soar above the $0.024 support, rising to the $0.032 resistance, according to data from GeckoTerminal. 

JASMY trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the bullish prospects. The SMAs also act as major support levels at $0.024 and $0.020.  

Moreover, the Relative Strength Index (RSI) trades at 68 as it closes in on the 70-overbought region, an indication of intense buying pressure.

The Moving Average Convergence Divergence (MACD) also supports the bullish sentiment, as the blue MACD line crosses above the orange signal line, which represents a bullish crossover. A bullish crossover encourages retail investors to add to their positions, possibly pushing JASMY above the $0.032 resistance zone.

The green bars on the histogram also extend gracefully above the neutral line, showing that JASMY has positive momentum.

JasmyCoin Price Prediction

JasmyCoin’s price bullish momentum is stronger, as the bulls use the $0.024 support zone to propel the price. JASMY bulls are set to breach the $0.032 resistance, possibly pushing JASMY to the next resistance level around $0.0633.

In an inverse scenario, the bears could start booking profits from the recent rally, which could push the price of JASMY to the next support level at $0.020, coinciding with the 200-day SMA.

As the JASMY price soars, other investors are also betting big on a Learn-To-Earn project called 99Bitcoins, which has already raised more than $1.7 million in its presale.

99Bitcoins Presale Blasts Past $1.7 Million – Best Crypto To Buy Now?

99Bitcoin (99BTC) is an educational platform with over 2 million registered users for its courses and more than 700,000 subscribers on its YouTube channel.

Since its launch in 2013, the project has primarily concentrated on providing guides for trading, wallets, and earning crypto. However, it has undergone a significant transformation since then.

With the introduction of its $99BTC token ICO, the project is set to introduce a groundbreaking learn-to-earn (L2E) model. It is gamifying crypto education by allowing token holders to tackle challenges and complete lessons to earn higher rankings and $99BTC tokens as rewards.

What is Spatial Computing? Discover how #Blockchain is transforming AR/VR, making immersive digital worlds more interactive and secure.

Dive deeper: https://t.co/2hlZYRFHBv#99BTC #SpatialComputing #Web3

— 99Bitcoins (@99BitcoinsHQ) April 8, 2024

99Bitcoins also plans to integrate its token into the Bitcoins network using the BRC-20 token standard. 

Introducing $99BTC on BRC-20! 🎓

Since 2013, #99Bitcoins has been the go-to resource for learning about #Cryptocurrency.

We're launching a platform that enables the building of #dApps on top of the #Bitcoin network!💡#LearnToEarn rewards users on the Bitcoin blockchain.🙌

— 99Bitcoins (@99BitcoinsHQ) April 30, 2024

Token holders can also stake their tokens for an impressive 944% annual percentage yield (APY).

Jacob Bury, a popular crypto analyst and YouTuber, says that the 99Bitcoins token could turn a $1K investment into $10K after its launch.

You can buy 99BTC tokens for $0.00107 each. With a price hike coming in less than four days, buy soon to lock in the best deal.

To join the presale, buy $99BTC from the official website here using ETH, USDT, or a bank card.

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According to Odaily, US Presidential candidate Robert Kennedy has made a bold statement regarding Bitcoin. He believes that over the past century, all wars have been triggered by fiat currency, and Bitcoin could be the solution to this issue. Kennedy suggests that Bitcoin has the potential to 'fulfill our promises'.

Kennedy's comments highlight the potential of Bitcoin as a global currency, free from the control of any government or institution. This decentralization could potentially prevent conflicts caused by the manipulation of fiat currencies. The candidate's statement underscores the growing recognition of Bitcoin's potential in the political sphere.

However, it's important to note that while Kennedy's views are certainly thought-provoking, they represent one perspective in a much larger conversation about the role of cryptocurrencies in our society. As the 2024 Presidential race continues, it will be interesting to see how the discussion around Bitcoin and other cryptocurrencies evolves.

Cryptocurrency luminary and early Bitcoin prophet Davinci Jeremie has projected that Shiba Inu (SHIB), the self-proclaimed “Dogecoin-killer,” is set to experience a meteoric rise of over 100%.

In a tweet on Tuesday, Jeremie confidently stated, “Once it’s finished going down, and it breaks out, could break out above the 0.000025 or the 0.00003, that’s it… it’s going all the way to 0.00006, so that’s why I’m going to get some Shiba.”

His tweet promptly captured the attention of Shytoshi Kusama, the lead developer of Shiba Inu, and the fervent SHIB community, which resonated with his outlook.

This isn’t the first time Jeremie has shown faith in SHIB. Last month, the pundit advocated for including SHIB in investors’ portfolios, emphasizing its potential alongside Bitcoin. His endorsement carries weight within the crypto community, given his track record of accurately predicting early Bitcoin booms.

In 2011, the pundit famously advised investing a mere dollar into Bitcoin, stating, “I suggest you take one dollar $1, buy some Bitcoins and put it away…the way I see it um that will be worth a million dollars…but the odds are most of you 90% of you are not going to buy even $1 worth of Bitcoins for what reason I have no idea. Anyways if you take my advice um that’s great if not, that’s the way it is.” Since then, he’s earned the moniker “I told you so” guy.

Elsewhere, crypto analyst Armando Pantoja echoed Jeremie’s optimism, foreseeing a future where SHIB reaches $0.001 in the next 1 to 2 years. Pantoja cited three factors underpinning his conviction: the burgeoning retail hype, favorable market conditions driven by the Bitcoin halving, and SHIB’s pronounced correlation with BTC’s price movements.

SHIB’s recent ascent has been remarkable, catapulting it into the global top 10 crypto assets, momentarily surpassing Cardano (ADA) earlier on Tuesday. This milestone coincides with a broader positive sentiment towards meme coins, exemplified by significant gains in tokens like Floki and Dogwifhat.

Several catalysts fuel SHIB’s rally, including strategic partnerships, resurging investor interest, and recent technological enhancements within the Shiba Inu ecosystem. Notably, the project’s burning mechanism, coupled with an accelerated burning rate, aims to curtail supply and heighten scarcity. Furthermore, the recent upgrade to Shibarium, a layer-2 scaling solution, fortifies the network’s stability and augments user experience.

At press time, SHIB was trading at $0.000025, reflecting a 4.35% loss over the past 24 hours, according to CoinMarketCap.

According to Odaily, the Bitcoin price has remained relatively stable due to the steady inflation rate of the US Personal Consumption Expenditure (PCE) in April. The PCE inflation rate has maintained a steady year-on-year rate of 2.7%, which has not caused significant fluctuations in the Bitcoin price. Data from The Block indicates that the Bitcoin price has risen by 0.7% within the past 24 hours. This stability in the Bitcoin price amidst a steady inflation rate suggests a potential correlation between the two economic indicators. However, further observation and analysis are required to confirm this relationship. The Bitcoin market, like any other financial market, is influenced by a variety of factors, including but not limited to economic indicators such as the PCE inflation rate.

Cryptocurrency investors are searching for the next big opportunity. According to some experts, Ripple (XRP) could be the answer. In fact, some analysts suggest that buying XRP today is comparable to purchasing Bitcoin when it was priced at just $1,000.

The XRP Ledger: A Better Version of Cryptocurrency

According to a video by analyst Levi, a little-known fact about XRP is that many of the creators of Bitcoin were also involved in the development of XRP and the XRP Ledger.

These early engineers recognized the scalability issues that Bitcoin was likely to face, including high energy consumption costs and other problems. In response, they set out to build a better digital asset that could solve these challenges, resulting in the creation of the XRP Ledger.

Brad Garlinghouse, CEO of Ripple, emphasizes that the XRP Ledger is an open-source, decentralized technology, similar to Bitcoin. However, the creators of the XRP Ledger aimed to address the limitations of Bitcoin and develop a more efficient and sustainable cryptocurrency.

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Despite the ongoing SEC lawsuit, which has slowed down the progress of XRP, many experts believe that the token is poised for major growth once the legal issues are resolved. In fact, some pundits even suggest that XRP could become the backbone of the new financial system that is set to emerge.

If global tax deals are established and central bank digital currencies (CBDCs) become more prevalent, it is not far-fetched to imagine a price set for XRP. Some analysts predict that the value of XRP could surpass its previous all-time high of around $2,375 per coin, potentially reaching as high as $50,000 per token.

As the world’s leading economies look to gold as a stable backing for their currencies, blockchain technology is being developed to support this transition. XRP, with its ISO compliance and proven track record, is considered the premier option for serving as a bridge currency in this new system.

Governments and institutions could benefit immensely from using XRP as a bridge currency for a gold-backed stablecoin. This would not only save trillions of dollars in the long term but also provide greater stability for the people in every country using these currencies.

Read more: Bitcoin Analysts Agree BTC Price Could Fall as Bearish Price Actions Emerge: Here Are Their Outlooks

The SEC Lawsuit: A Prolonged Battle

While the potential for XRP is immense, the ongoing SEC lawsuit against Ripple has been a major obstacle. The case has been prolonged due to numerous motions for judgment and remedies, leading to disappointment among XRP supporters who had hoped for a swift resolution.

Ripple maintains its position that XRP is not a security and argues that the SEC should not be involved in the matter, as no investors have lost money. The SEC, on the other hand, is seeking to recover funds from Ripple, claiming that the company sold unregistered securities.

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The post Buying Ripple (XRP) Today Is Like Buying Bitcoin (BTC) at $1,000: Here’s Why appeared first on CaptainAltcoin.

According to Odaily, the Huaxia Bitcoin ETF has reached a significant milestone. As of May 31, 2024, the total scale of the Huaxia Bitcoin ETF has exceeded the HKD 1 billion mark. Since its listing, the ETF has consistently maintained a leading position. It is currently the largest Bitcoin ETF in Asia in terms of scale. This achievement underscores the growing interest and investment in Bitcoin and other cryptocurrencies in the Asian market. The Huaxia Bitcoin ETF's success is a testament to the increasing acceptance and adoption of digital currencies in the region.

According to CryptoPotato, Bitcoin's price has been in a consolidation phase for nearly three months after reaching a new all-time high of approximately $74K. Despite not achieving a new peak since then, a fresh rally could be on the horizon. Bitcoin's daily price action has been erratic, with the market consolidating within a descending channel. Currently, the asset is testing the upper boundary of this channel and the $68K level. Although it has not yet broken through to the upside, the momentum remains bullish, suggesting a breakout could occur at any time. If this happens, the market could rise towards the $75K all-time high and potentially set a new record.

The 4-hour chart provides a clearer view of the recent consolidation, with the price fluctuating around the $68K level in a symmetrical triangle pattern. Given the price action within this pattern and the fact that the market has touched the lower trendline of the triangle three times, a bullish breakout seems likely based on traditional price action principles. However, the Relative Strength Index (RSI) remains around the 50% level, failing to indicate a potential short-term direction. Therefore, the direction of a breakout from the triangle will be crucial.

As Bitcoin's price gradually moves towards a new all-time high, investor optimism is also increasing. The exchange reserve metric, which measures the total amount of Bitcoin held in exchange wallets, has been steadily declining since February. This reduction in supply has been a contributing factor to the recent rally. The decline has become even more pronounced in recent days, as investors anticipate a rally towards a new all-time high. This decrease in exchange reserve could be just what the market needs to rally.

According to U.Today, Michael Saylor, CEO of MicroStrategy and a well-known Bitcoin advocate, has once again shared his thoughts on the cryptocurrency market. Saylor's company is among the largest corporate holders of Bitcoin, reflecting his bullish stance on the cryptocurrency. In a recent social media post, he emphasized a crucial piece of advice for digital asset enthusiasts.

In cryptocurrency terminology, a 'sat' refers to a satoshi, the smallest unit of Bitcoin, named after its enigmatic creator, Satoshi Nakamoto. Therefore, 1 BTC equals 100 million satoshis. The phrase 'stack sats' has gained popularity among Bitcoin supporters, promoting consistent accumulation over time, irrespective of price fluctuations.

This philosophy highlights the significance of long-term investment and patience, suggesting that accumulating small amounts of cryptocurrency can gradually result in substantial gains over time. Saylor's message embodies this investment strategy and mirrors his broader views on Bitcoin. He promotes a disciplined approach to investing, cautioning against the dangers of attempting to time the market or making large, speculative bets.

MicroStrategy has frequently made news for its significant investments in Bitcoin, and Saylor's persistent advocacy has established him as a prominent voice in the crypto space. While he encourages people to be humble and accumulate Bitcoin, even in small fractions, the price of the leading cryptocurrency continues to test everyone's patience.

For the past fortnight, BTC has been trading within an extremely narrow price range, with an upper limit of $72,000 and a lower one of $66,800. Most of the time, the price of Bitcoin is maintained at $68,000.

Leading cryptocurrency analysts are signaling that Bitcoin (BTC) and Ethereum (ETH) are on the verge of a major breakout that could ignite a broader altcoin rally. The analyst known as Crypto Nova on X stated that both Bitcoin and Ethereum are on the cusp of another breakout, and it “will change everything!”

According to Crypto Nova, while Bitcoin and Ethereum have shown positive price momentum in recent weeks, altcoins have not followed the same upward trajectory. Many altcoins have remained rangebound or even appeared “lifeless.” However, Nova believes this is only temporary and could change drastically once BTC and ETH surpass critical resistance levels.

Nova expects the altcoin market to regain confidence and start rallying once Bitcoin breaks above the $70,000 to $73,000 range, accompanied by Ethereum moving above $4,000. At that point, the analyst anticipates the market will experience multiple days and weeks of green candles, drawing investors back into the altcoin space.

Historic Precedent for Altcoin Rallies

Crypto Nova cited the October 2023 “miniature altseason” as an example of how altcoins tend to lag Bitcoin and Ethereum until the broader market regains confidence through sustained upward price action. The analyst explained that altcoins often remain stagnant or appear uncertain until the top cryptocurrencies break out of their trading ranges and establish new local highs.

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Read Also: Top Cryptocurrency Unlocks in June: Arbitrum (ARB) and Aptos (APT) Lead the Pack

According to Crypto Nova, Bitcoin and altcoins do not always move in tandem, as altcoins tend to react more emotionally to market conditions. During periods of fear and uncertainty, altcoins are often ignored by investors until confidence returns to the market.

When to Expect Bitcoin’s Cycle Peak

While Bitcoin and Ethereum appear poised for a breakout that could catalyze an altcoin rally, the question of when the current cycle will peak remains a topic of discussion. The X user known as Mags, or @thescalpingpro, shared insights suggesting that Bitcoin’s cycle tops have historically coincided with the monthly Relative Strength Index (RSI) hitting extreme overbought levels above 90.

Mags noted that in the current cycle, the monthly RSI for Bitcoin has reached 77 but has not yet entered the extreme overbought zone. This situation is reminiscent of the 2016 cycle, when the RSI initially got rejected at 79 before Bitcoin’s price went sideways for a few weeks near the all-time high. Subsequently, the RSI climbed to 96, marking the cycle’s top.

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The post Bitcoin and Ethereum (ETH) on the Verge of Breakout That ‘Will Change Everything’: Indicator Reveals When BTC Price Will Peak appeared first on CaptainAltcoin.

During this bull cycle, the crypto market has been surfing off Bitcoin’s crest and enjoying the bullish momentum. However, investors hope for a seismic explosion to impulse Altcoins to new highs.

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As the crypto industry awaits, online reports revealed that, since FTX’s fall, only eight altcoins have hit a new all-time high (ATH) against Bitcoin. A crypto analyst shared his thoughts on the matter.

Altcoins Underperforming Against Bitcoin This Cycle

On Friday, Crypto analyst Miles Deutscher shared an interesting fact about the crypto market. Since November 2022, just eight altcoins have broken their previous ATH against the flagship cryptocurrency.

To achieve this feat, tokens include Render (RNDR), Tellor (TRB), Injective (INJ), Astar (ASTR), SSV Network (SSV), SingularityNET (AGIX), True Wallet Token (TWT), and Binance Coin (BNB).

It’s worth noting that RNDR was the latest one to accomplish this on March 11 and that the list only contains altcoins launched before FTX’s collapse.

Original post lists the altcoins to hit ATH against BTC. Source: Miles Deutscher on X

Deutscher explained that despite his initial shock, the news made sense to him and highlighted some takeaways based on the singularities of this run.

First, the analyst considers that asset selection dynamics changed from previous cycles. Investors have been “punished” for being overexposed to certain sectors like L2 and gaming and “rewarded” for participating in others like Memecoins and AI.

In contrast, in the last cycle, “you could basically bet on anything and beat $BTC.” According to the analyst, the market will likely continue experiencing specific sector outperformance despite the retail liquidity injection.

He also explained that “crypto is an attention economy,” and money will flow where attention is. As a result, even the projects with the best technology won’t perform if there isn’t an exciting reason to buy.

Deutscher’s second takeaway highlights the market’s current ATH dilution. As he points out, thousands of new products are being launched daily, and “low float/high FDV VC coins are launching in the billions.” These launches are seemingly outpacing the new liquidity, resulting in Altcoins struggling with performance.

More Room To Catch Up

The analyst’s third point explains that the bull run has been led by Bitcoin and spot BTC exchange-traded funds (ETH). Based on this, he considers it unsurprising that altcoins have “hardly pumped” so far.

Various crypto analysts and experts share this opinion. Alex Krüger previously stated that the cycle has been “almost entirely” driven by the Bitcoin ETFs’ momentum.

Deutscher sees Altcoins’ underperformance as a bullish signal since Bitcoin’s dominance has been instrumental in previous cycles. To him, this performance allows “more room to play catch up” and could drive altcoins to unseen highs.

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The analyst believes the market needs another catalyst for a true Altcoins season. Despite this, he highlights that many investors have had a record Q1 “even in mildly bullish conditions for most alts.”

Ultimately, Deutscher considers there is still room to make big profits this cycle “even without the face-melting altseason we all crave.”

Altcoins’ market capitalization is at $1.13 trillion, according to the weekly chart. Source: TOTAL 2 on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com

Source: NewsBTC.com

The post Only 8 Altcoins Have Broken ATH Against Bitcoin Since FTX’s Collapse – Analyst Weighs In appeared first on Crypto Breaking News.

According to Odaily, legendary trader Peter Brandt has predicted a significant surge in the price ratio of Bitcoin (BTC) to gold. Brandt anticipates a 340% increase in the BTC to gold price ratio, as reported by Bitcoin Magazine.

This forecast suggests a substantial shift in the value dynamics between the traditional safe-haven asset and the leading cryptocurrency. However, it's important to note that this is a prediction and actual market movements may vary.

Brandt, known for his trading acumen, has a history of making accurate predictions in the cryptocurrency market. His latest forecast could potentially indicate a significant shift in investor preference from gold to Bitcoin. However, as with any market prediction, it's advised that investors exercise caution and conduct their own research.

According to Foresight News, Nubit, the native DA layer of Bitcoin, has announced its integration with Babylon Devnet. During this integration process, the Babylon Node is responsible for managing the staking operations and handling crucial data. Concurrently, the IBC Relayer facilitates efficient communication between Nubit and Babylon. This integration signifies a significant step in the development and expansion of Bitcoin's native DA layer, Nubit.