The European Central Bank (ECB) is ready to impose sanctions on Italy’s UniCredit as the bank continues to participate in business with Russia.
The post Bitcoin Price Prediction: BTC Price Poised to Hit This Level in Next 12 Months appeared first on Coinpedia Fintech News The recent slump in Bitcoin prices following Iran’s attack on Israel has sparked questions about the perception of cryptocurrencies as safe-haven assets during times of geopolitical uncertainty. Let’s read an honest review of these price movements and the broader outlook for Bitcoin. BTC to $200,000 if this happens In a recent interview on CNBC Squawk Box, SkyBridge Capital founder Anthony Scaramucci shared his insights on Bitcoin’s potential trajectory, projecting a significant surge in value over the next 12 months. The price of Bitcoin has gone up 1.5% in the last 24 hours and is now $62,594. There have been short-term changes in Bitcoin’s value, but Scaramucci is still optimistic about its future. He says Bitcoin’s growth is like the early days of the internet and thinks it could go up by more than 200% in the next year and hit $200,000 after halving. The analyst thinks that Bitcoin will reach half the market cap of gold in the long run, meaning each coin would be worth about $400,000. However, he also says short-term drops of up to 15% could happen because of wars or terrorist attacks. Even with these risks, Scaramucci said that Bitcoin’s rise was mainly due to rising demand from ETFs and institutional investors. Halving Impact on BTC The upcoming Bitcoin halving event supports Scaramucci’s positive outlook, with expectations that it could boost Bitcoin’s price to new highs. While acknowledging the possibility of short-term fluctuations, Scaramucci believes that Bitcoin’s overall trajectory remains upward, consistent with its historical performance over the past 15 years. Conversely, Bitwise Asset Management warns of short-term fluctuations but long-term gains. The halving cuts supply, making Bitcoin scarcer and potentially boosting prices. CEO Matt Hougan predicts Bitcoin could hit over $200,000 this year because of it. Investors might react cautiously before the event, but history shows prices often surge afterward. Bitcoin’s Current Price Bitcoin’s price is currently at $64,520, showing a slight drop. The technical analysis suggests that Bitcoin trades within a narrow range, with a pivot point at $62,899. Resistance levels are at $65,194, $67,695, and $70,959, while support levels are at $59,418, $56,271, and $53,182. The market sentiment is balanced, as indicated by the Relative Strength Index (RSI) at 54. If Bitcoin breaks above $65,300, it could see further buying, potentially pushing it towards $70,000.
The post Solana and Chainlink Holders Secure Early Positions on $MEDA Presale in Hopes of Market Flipping Bullish appeared first on Coinpedia Fintech News TLDR Solana (SOL) slumps due to conflict between Iran and Israel. Chainlink (LINK) dips as market conditions worsen. Milei Moneda’s ($MEDA) presale promises certain profits in an uncertain market. Solana (SOL) has tumbled by 25% in the past week despite rolling out new upgrades. Chainlink (LINK) is also down 32% despite releasing a new cross-chain solution. Meanwhile, Milei Moneda’s presale is getting all the attention as investors look to recoup their losses. Why are SOL and LINK falling despite positive developments? And why do their investors see $MEDA as the best crypto to buy? Let’s find out. Economize Like Milei: Invest in $MEDA! Solana Moves To Rectify Network Decongestion Solana has gained 446% in the past year. This surge is due to the explosion of Solana meme coins like BONK and WIF. This meme coin surge has increased the adoption of the Solana network. However, it has also led to severe network congestion issues and a high percentage of failed transactions. Developers have moved to fix the congestion issues. They released an upgrade to the validator client software. This new version has already been released on the devnet for testing. Despite this move to fix the network’s issues, SOL has still lost 25.4% in the past seven days, falling to around the $132 level. SOL’s slump is due to the investors switching to safer investments as conflict broke out between Israel and Iran. Analysts predict that SOL could remain around $141.35 if tensions between the two Middle Eastern powers remain high. Chainlink Rolls Out New Cross-Chain App Chainlink has gained a relatively modest 63% in the past year. Most of this pump came in the run into the approval of the spot Bitcoin ETFs earlier this year. However, LINK has lost some of that momentum due to a market-wide price correction. This slump has been worsened by investors pulling their money out of the crypto market as tensions rise in the Middle East. Chainlink recently unveiled the Transporter app, which is powered by the Chainlink Cross Chain Interoperability protocol (CCIP). The app is described as the next stage in cross-chain interoperability. However, the political tensions in the Middle East have ensured that LINK still lost 32.18% in the past 30 days. With LINK currently trading at $13.15, analysts predict that the token might hover around $13.15 due to the ongoing geopolitical crisis. Milei Moneda Comes to Investors’ Rescue Milei Moneda has appeared as an oasis in the desert of the continuous losses and sell-offs dominating the market. This is because Milei Moneda’s presale guarantees investors profits even as other cryptocurrencies post losses. $MEDA’s presale is currently in Stage 2, and the token is sold for $0.0125. Stage 1 investors have already locked in a 25% profit. They will gain 100% in total when $MEDA becomes $0.020 at launch. Stage 2 investors will also earn 60% at launch. More profit opportunities abound even after the presale. $MEDA has a fixed supply of 500 million. Five percent of the supply will be burned, creating scarcity and increasing prices. Milei Moneda investors also become a part of the community on X, Discord, and Reddit. They also gain voting rights, access to the coolest NFT collections, NFT staking rewards, and discounts. Additionally, they will be rewarded for quality proposals. Milei Moneda ensures investors’ funds remain intact through smart contract audits, zero team allocation, and locked liquidity. Summary Adverse market conditions roll back Solana’s gains. However, Solana (SOL) is getting stronger as it fixes congestion issues. LINK dips as investors abandon their crypto investments. However, Chainlink improves on CCIP with a new app. Milei Moneda offers a refuge from the stormy market conditions as inventors are certain of profits in its presale. Got $MEDA curiosity? Visit or chat on Telegram for the inside scoop. Fast, fun, and informative!
The post The Halving Effect: Analysing The Impact on Bitcoin Dominance appeared first on Coinpedia Fintech News The 2024 Bitcoin halving is just a day away, sparking excitement among crypto fans. Although it is not the first time Bitcoin is preparing for halving, many expect this fourth halving to be more significant. One big reason is the changing crypto landscape. Unlike before, there is a surge in alternative cryptocurrencies or Altcoins. At present, the dominance of Bitcoin in the cryptocurrency market remains as low as 51.68%, much weaker than during past halvings. Altcoins now compete closely with Bitcoin for dominance. This raises an interesting question: how will the upcoming halving affect Bitcoin dominance? Let’s dive into some data and see if we can find answers. Are you ready? 1. Bitcoin Halving: What’s It Bitcoin halving is a major event occurring every four years in the Bitcoin ecosystem. It is the fundamental aspect of how Bitcoin operates, involving the reduction of the reward miners receive for adding new blocks to the blockchain. By halving this reward, the supply of new Bitcoins entering circulation decreases, increasing their scarcity. To date, there have been three such halvings. The next halving is scheduled on 19th April, 2024, adding anticipation and excitement to the crypto community as it awaits the impact on the network and market dynamics. Among many others, how the event is going to impact Bitcoin dominance is a sensational question now. 2. Bitcoin Dominance: What Does It Means Before we address the sensational question regarding the event’s potential impact on Bitcoin dominance, we should understand what the concept of Bitcoin dominance actually represents. In simple terms, Bitcoin dominance refers to the proportion of the total cryptocurrency market value that Bitcoin holds. Currently standing at 51.68%, it means that Bitcoin makes up slightly over half of the entire cryptocurrency market. This dominance is also a measure of Bitcoin’s influence and importance compared to other cryptocurrencies, known as Altcoins. If Bitcoin dominance is high, it suggests that investors are more focused on Bitcoin. However, if it is lower, as it is now, it indicates a growing interest in Altcoins and a more diversified cryptocurrency market where other digital assets are gaining traction alongside Bitcoin. 3. Can Bitcoin Halving Impact Bitcoin Dominance Undisputedly, Bitcoin halving can impact Bitcoin dominance. Primarily, when the reward for mining new Bitcoin blocks halves, it affects the rate at which new Bitcoin’s enter circulation, potentially altering Bitcoin’s supply dynamics. If demand for Bitcoin remains steady or increases while its supply decreases, its value may rise, attracting more investment. However, as seen in past halvings, this increased interest in Bitcoin may not always translate to a higher dominance percentage. Altcoins may also see increased attention, leading to a decrease in Bitcoin dominance over time. 4. Analysing Impacts of Bitcoin Halvings on Bitcoin Dominance in Past Let’s analyse how Bitcoin dominance changed one month and one year after each of its halving events. The first occurred on November 28, 2012, followed by the second on July 9, 2016, and the third, most recent one, on May 11, 2020. We will use the Bitcoin dominance index to track these changes. This analysis will help us understand the impact of halving events on Bitcoin’s dominance over time. Read Also : How Will Bitcoin Halving Impact Top Cryptos 4.1. Changes in Bitcoin Dominance after First Bitcoin Halving At the time, the first Bitcoin halving occurred, Bitcoin was an extremely dominant player in the market, where Altcoins played the role of a meagre player. In the beginning months of the year 2013, the Bitcoin dominance was 94.8%. That means, others enjoyed less than 5.2% dominance. CryptocurrenciesA year after the first Bitcoin Halving (28, November, 2013)Bitcoin 89.27%Others 10.73% The date indicates that Bitcoin dominance slightly decreased to 89.27% a year after the first halving, compared to what it was during the beginning of that year. It naturally helped others to climb from 5.2% to 10.73%. 4.2. Changes in Bitcoin Dominance After second Bitcoin Halving Cryptocurrencies Dominance on July 9, 2016Dominance on August 9, 2016Dominance on July 9, 2017Bitcoin83.48%80.05%45.8%Others16.51%19.95%54.2% The data shows that the Bitcoin market dominance dropped from 83.48% to 80.05% just a month after the second Bitcoin halving. In the corresponding period, others saw an increase from 16.51% to 19.95%. A year after the event, the dominance of Bitcoin in the crypto market fell beyond the half marking to 45.8%, allowing others to climb above the marking to 54.2%. 4.3. Changes in Bitcoin Dominance After Third Bitcoin Halving CryptocurrenciesDominance on May 11, 2020Dominance on June 11, 2020Dominance on May 11, 2021Bitcoin 66.18%64.57%42.85%Others 33.81%34.43%57.15% Akin to what occurred following the first and second halving, a month after the dominance of Bitcoin slipped from 66.18% to 64.57%. And, it went below the fifty per cent mark to 42.85% after the event. It allowed others to climb from 33.81% to 34.43% in a month and to 57.15% in a year. Read More : Bitcoin Halving Countdown Begins: Will BTC Price Hit $100K or Crash to $55k? 5. Possible Changes in Bitcoin Dominance after the Next Bitcoin Halving The below data shows the current market dominance indexes of the top cryptocurrencies. Cryptocurrencies Market Dominance Bitcoin51.68%Ethereum 15.26%Tether 4.45%BNB3.4%Solana 2.51%XRP1.13%Others 21.56% It clearly illustrates that Bitcoin enjoys an impressive dominance of 51.68%, Ethereum and Tether follows with 15.26% and 4.45%. Others enjoy 21.56%. If the developments happen after the upcoming halving event resembles the ones that happened in the past, Altcoins are likely to witness a massive jump in terms of its dominance in the market in a year. Maybe, a month after the event, they show a slight increase, and a year after, a major increase. Let’s see whether the present market trend is favourable for the top competitors of Bitcoin; Whether they can reap the benefit of the possible decline in the market dominance of Bitcoin. The below date shows the trend witnessed in the market dominance data of the top five cryptocurrencies, excluding Bitcoin. Cryptocurrencies Last Month 19 March, 2024Six Month Before 19 October, 2023Last Year19 March, 2023 Ethereum 15.64%16.6%17.83%Tether 4.25%7.39%6.24%BNB3.21%2.86%4.39%Solana 3.1%0.91%0.7%XRP1.32%2.45%1.63% The data says that the second largest cryptocurrency has witnessed a fall in the market dominance index from 17.83% last year to 15.64%. As it is a slight decline, the trend is not completely unfavourable for this crypto. Meanwhile, Solana has marked an impressive increase in the market dominance index from 0.7% to 3.1%. In fact, it is the only crypto in the top five list that has marked such an impressive expansion in terms of market dominance. Clearly, the trend is favourable for the coin, if other factors don’t play against them. Read More : Will Crypto Skyrocket? Ripple’s CEO Reveals What’s Next Before the Bitcoin Halving! Endnote As the 2024 Bitcoin halving approaches, the analysis suggests a potential shift in cryptocurrency market dynamics, with Altcoins poised to gain momentum in the wake of Bitcoin’s diminishing dominance. The interplay between Bitcoin’s scarcity and Altcoin’s growing appeal underscores a dynamic landscape where diversification and completion drive innovation and investment. The evolving crypto narrative promises an intriguing journey ahead, marked by flux and opportunity.
The post Bitcoin Halving Event Today: What to Expect from the Crypto Market This Weekend appeared first on Coinpedia Fintech News The highly anticipated fourth Bitcoin (BTC) fourth halving will happen over the weekend. The crypto market will continue to register heightened volatility amid the high-impact news. More cryptocurrency exchanges are positioning their services to reap more from the Bitcoin halving event. For instance, BitMEX’s Bitcoin perpetual swap now offers 250x leverage up from 100x a few days ago. As a result, it is prudent for every crypto trader and investor to position their respective portfolio to enable maximum gains. Crypto Market Outlook Post Bitcoin Halving While the cryptocurrency market could depict short-term weaknesses after tomorrow’s Bitcoin halving, renowned crypto analyst Michaël van de Poppe is confident the industry will continue in a bullish outlook in the coming quarters. Furthermore, institutional investors and retail traders have been preparing for this phase for the past three years and it is at hand. Additionally, the famous stock-to-flow model predicts at least 2x in Bitcoin price within the next six months. Poppe on Narratives to Focus on Ahead Expectance:– #Bitcoin to consolidate.– #Altcoins bouncing in their Bitcoin pairs.– Narrative to shift to ETH and DePIN/RWA.– Altcoin strength from in Q2/Summer. – Corrections in Q3.It's going to be great, just buy the dip.— Michaël van de Poppe (@CryptoMichNL) April 17, 2024 According to Poppe’s expectations after tomorrow’s halving event, Bitcoin price will continue to consolidate within the range between $61k and $72k. As Bitcoin accumulates more buying pressure, the analyst believes that altcoins will begin to rebound in their respective pairs with Bitcoin. As a result, Poppe indicated that Ethereum, the Decentralized Physical Infrastructure Network (DePIN), and real-world asset (RWA) tokenization will take the lead before the end of the second quarter. Later in the third quarter, the crypto analyst expects a general wide market correction in preparation for the exponential rally to respective new all-time highs (ATH).
Bluecode and Alipay+ announced that they have forged a strategic partnership for Bluecode to become the latest Alipay+ mobile payment partner, allowing its users to make payments via Bluecode enabled apps at all Alipay+ supported stores in Europe, including tens of thousands in Germany alone ahead of UEFA EURO 2024.
On April 20th the bitcoin halving will take place, which is set in the cryptocurrency’s technology to cut the rate at which bitcoin is created. The event happens every leap year and is eagerly anticipated by crypto enthusiasts.
Mulberri, an AI-driven insurance platform, today announced it has partnered with Acronis, a global leader in cyber protection, to embed Mulberri’s Cyber Insurance to Acronis small & medium-sized businesses customers based in the US.