Bitcoin Sellers are Starting to Disappear as Analysts Forecast Major Growth
Bitcoin has been the best performing major cryptocurrency by far, with most large altcoins severely underperforming it throughout the past few days and weeks. While many investors allocated serious capital to altcoins in hopes of smaller tokens being a higher beta play that outperform BTC, the benchmark cryptocurrency’s massive upswing has sucked all the oxygen […]
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Bloomberg exchange-traded fund (ETF) analysts James Seyffart and Eric Balchunas have evaluated the prospects for the altcoin ETF applications submitted by major asset managers these last months. Their analysis reveals a growing optimism regarding the regulatory landscape for these financial products, particularly with Litecoin (LTC) ETFs emerging as the frontrunner for potential approval. Analysts Forecast […]
The slowdown in the global economy has resulted in many governments imposing protectionist measures in their countries. Could this pose a threat to Bitcoin? Slowdown in World Trade Growth. Globalization and the corresponding increase in world trade has driven global GDP growth for the last couple of decades. Countries have found their niche areas in the global economy and have flourished – China in manufacturing, India in software, Philippines in Business Process Outsourcing, etc. However, the rapid growth in global trade seems to be plateauing. According to a recent World Trade....
Bitcoin exchange reserves are continuously plummeting as analysts pinpoint the trend to a potential shortage of sellers. Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC.Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges.Bitcoin reserves on exchanges. Source: GlassnodeIs....
Bitcoin’s price has been fairly stable below $24,000, with sellers being unable to firmly degrade its strength despite the weakness seen across altcoins BTC’s dominance has been rising rapidly as it sucks the oxygen out of the room, with analysts widely targeting continued strength against altcoins However, Bitcoin still has some major hurdles in its path that may continue hampering its growth and stopping it from seeing any massive uptrend This includes the massive resistance […]
Following Bitcoin and other top coins, Ethereum is in red, bleeding at spot rates. In summary, Ethereum is down 20% from the May 2024 highs, easily breaking $3,300, as the Bears target is $3,000 in the short term. Ethereum Down But Analysts Are Bullish: Here’s Why However, amid this deluge of sellers, some analysts remain […]