$BTC Be ready for a big #bitcoin crash in the middle of Nove

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tomato24

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$BTC Be ready for a big #bitcoin crash in the middle of November.

$BTC Be ready for a big #bitcoin  crash in the middle of November.

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Shiba Inu’s layer-2 scaling solution, Shibarium, is experiencing a notable increase in transaction activity. Recent data indicates daily transactions on the network have surged to nearly 18,000, marking a 193% rise compared to the previous day. Despite this growth, the metric remains significantly lower than its peak in mid-April, when daily transactions reached the millions. Launched in the summer of 2023, Shibarium was designed to enhance Shiba Inu’s scalability, lower transaction fees, and improve processing speed. These improvements aim to foster the development of the meme coin, making it more efficient and attractive to users and investors. Shibarium’s recent milestones are considered bullish indicators for Shiba Inu’s market performance. The recent uptick in transaction activity highlights the increasing utility and adoption of the Shibarium network. As more users engage with the platform, the potential for Shiba Inu to stabilize and grow in value becomes more likely. Price Movements and Market Sentiment Shiba Inu has shown positive price movements lately. The asset’s value has risen by 9% daily and 18% over the past month. This upward trend has garnered attention from market analysts and investors alike. Prominent analysts on Crypto X, such as Ali Martinez, have expressed optimism about SHIB’s potential price movements. Martinez predicts that if Shiba Inu breaks the upper boundary of a descending parallel channel at $0.00002444, its price could rise by 20%. Recently, SHIB has surpassed this level, now sitting at $0.0000248. Additionally, analyst Dami-Defi suggests that breaking out of the recently formed falling wedge pattern on the 1D time frame could lead to a 50% price surge for SHIB. These analyses reflect the general market sentiment, which is increasingly optimistic about Shiba Inu’s future price potential.

Bitcoin (BTC) surged to $70,000 on Monday, marking its first rise to this level in over a month. At the time of writing, Bitcoin’s price has increased 5.8% in the last 24 hours and more than 10% in the last week. This increase is coming before a vote on the 21st Century (FIT21) Act and a surge in spot buying and spot BTC exchange-traded fund (ETF) purchasing. This activity has prompted the cryptocurrency community to question whether the bull market is just starting or approaching a peak. BTC faces critical resistance in the $69,000-$72,000 range. Bitcoin briefly surged above $70,000 on Friday in volatile trading as a crypto frenzy continues to captivate the investment community. It rose to as high as $70,275 before quickly dropping down to $69,317.72. Since then, and at the time of writing, BTC has stayed at around $69,800. This burst in trading activity is causing speculation that the recent consolidation phase has ended. With Bitcoin trading within a few hundred dollars of $70,000, the 20-day EMA is at $64,371, and a positive RSI indicates that an upward breakout is more likely. Overcoming the resistance at $68,000 suggests that the BTC price is heading towards $73,777 and all-time highs, but this level may lead to a strong bearish reaction. This surge comes as a surprise to some as the number of whale transactions consisting of at least $100,000 worth of BTC dropped by 51% over the past five days. If this marks the end of a resistance level, Bitcoin’s price is poised to surge and flirt with all-time highs if it can successfully surpass the critical resistance level of $67,500.

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