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"Bitcoin in 2024: Unveiling Trends and Market Dynamics"As a part of Messari's 2024 Cryptocurrency Thesis, the platform highlights the growth and impact of BRC-20, Ordinals, and Inscriptions. These new transaction forms, along with Tem and Runes, have surged this year, flooding the Bitcoin mempool and causing a notable spike in transaction fees. According to the thesis, engravings alone accounted for approximately 21% of total transaction fees in 2023, based on data available as of December 10. Bitcoin's price remains relatively stagnant over the past month, currently trading at $42,598. At this juncture, BTC shows no clear signs of upward or downward movement, likely to sustain consolidation within the range of $42,069 to $44,006. If Bitcoin manages to breach the resistance at the upper end of the range, a bullish breakout could occur, pushing BTC beyond $45,000. However, should BTC fall below the support level of $42,000, a correction might lead it down to $40,000, testing the 100-day Exponential Moving Average (EMA) at $42,000. The market outlook for Bitcoin in 2024 is influenced not only by existing factors but also by emerging trends and transaction methods, as detailed in Messari's comprehensive thesis on the cryptocurrency landscape. Investors are keenly watching for potential breakthroughs and developments that could shape the trajectory of Bitcoin in the coming year.
BITSTAMP:BTCUSD
by Larissa-Trader
BTC Chart is a Masterpiece !! 39500 - 41800 is our targets nowHello Guys As u See on the BTC chart we had many beautiful patterns which were very accuracy by its targets up & down . last Pattern which its number is 4 had done its target exactly at 17500$ as u see (yellow rectangles). Now we are in Pattern Number 5 (Red Rectangles) which its Target after rocking 28800 are 39500- 41850 $ . Note : we should break the 28800 resistance to reach our targets our we can go first to the bottom of the falling wedge. Watch it and Decide Good Luck It is not a financial advice and plz DYOR
INDEX:BTCUSDLong
by KarimMohsen
1
Bitcoin Surpasses 50 Million Addresses, Reaches All-Time HighBitcoin continues its robust upward trend, recently reaching a significant milestone by exceeding 50 million unconfirmed addresses. This achievement reflects increasing user adoption and widespread acknowledgment of cryptocurrency as a legitimate asset. With an average holding of approximately $16,000 per user, the implications for future price performance are substantial. The recent all-time high underscores strong confidence among investors and users, signifying a maturing market transitioning from speculative trading to broader acceptance and usage. The impressive bullish trajectory in the price chart, marked by higher lows and a growing number of addresses, indicates a solid foundation for future growth. Bitcoin's ability to maintain strong support adds to its resilience and appeal as a store of value. As each user represents an average organization with the potential to multiply, the overall value of the network may continue to grow exponentially, solidifying Bitcoin's position as a leading cryptocurrency. The increase in addresses with non-zero balances is not just a numerical milestone but evidence of trust and value placed in Bitcoin by millions worldwide. This expanding user base serves as a powerful driver for sustained and stable price performance, hinting at a promising future for Bitcoin's price potential.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin Loses Dominance as Altcoins Lead the Market SurgeThe impact of altcoins taking the lead over Bitcoin is not particularly positive. Bitcoin dominance represents the percentage of the total cryptocurrency market held by the world's largest digital asset. Whenever this dominance increases, altcoins tend to lose influence in the market, but the rising value of altcoins is causing Bitcoin to lose its dominance. This is later considered a signal of the altcoin season, which at this point is still a long way from happening soon. This indicates that Bitcoin's dominance was affected on Thursday as it dropped to 53% after failing to breach 54%. The total market capitalization of cryptocurrencies, excluding Bitcoin, has increased by 6.83% in the past 48 hours, reaching $48.66 billion. Digital assets, including Solana, Optimism, etc., recorded increases ranging from 14% to 31% in just one day. This is largely due to the observed accumulation over the past few weeks, leading to assets worth tens of millions of dollars moving out of exchanges. Ethereum, Shiba Inu, Fetch, and Dent emerged as the largest coin-exchange reducing wallets. In the last three months, ETH worth $778 million, SHIB worth $54.6 million, and FET worth about $48 million have exited the exchange wallets. This hints at a long-term bullish trend, which is significant given the current optimism in the market. The Fear and Greed Index for cryptocurrencies is showing greed prevailing in the market. In general, prolonged periods of greed tend to lead to corrections caused by profit-taking from investors. However, a closer look at the cryptocurrency market reveals that it is eagerly awaiting stronger bullish signals, and altcoins are not likely to experience any significant downturn soon.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin Price Surge: Key Factors Driving the Upward TrendOn the macroeconomic front, the influence of fundamental principles such as interest rates and inflation on Bitcoin is gradually diminishing. Other fundamental factors boosting Bitcoin prices in 2023 include the resolution of the year-long FTX lawsuit and the admission of money laundering charges by Changpeng Zhao (CZ), the CEO of rival exchange Binance. While these events stir volatility in the cryptocurrency market and act as catalysts for price fluctuations, Bitcoin's bullish momentum is rooted in three major events shaping the BTC market before 2024. These are: Bitcoin's price history records the strongest gains in the fourth quarter, with October emerging as the most active month. According to experts, the narrative surrounding the Exchange-Traded Fund (ETF) transition continues to dominate discussions among traders and investors, with an expected approval date ranging from January 5 to January 10. Bitcoin halving, scheduled for April 2024, is anticipated to kickstart the next phase of the price surge. In summary, the Bitcoin price surge is influenced by a combination of historical trends, ETF anticipation, and the upcoming halving event, setting the tone for the cryptocurrency market leading into 2024.
by Larissa-Trader
2
BTC : RSI Macro-TREND Market Hack 😎Hi Traders, Investors and Speculators of Charts📈📉 As I've said before, I love the logarithmic view of BTC. It gives a clearer indication of price increases alongside growth. Although inflation and value factors aren't physically calculated into the price, seeing the upwards curve makes more sense from a "holistic view" that would include things such as growth and inflation. A logarithmic chart view displays price changes as a percentage of the previous price. This means that equal vertical distances on the chart represent equal percentage changes, regardless of the absolute price level. This is in contrast to a regular chart view, which displays price changes on an arithmetic scale. This means that equal vertical distances on the chart represent equal absolute price changes. With help of technical indicator RSI, we can use the macro logarithmic together with the RSI as a sort of "roadmap" to identify the current dominant macro trend . If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 We thank you for your support ! CryptoCheck COINBASE:BTCUSD
COINBASE:BTCUSDLong
by CryptoCheck-
17
BTC Soo Bearish that its bullish. Price Target of 600K by 2025?Please do your DD as this is not an investment advice. This could be the most ridiculous price prediction considering current world events but before we dismiss it outright, lets go through it step by step together. First looking at 2013 to 2015 bear market then comparing it with the 2021 to this present day we can see similarities with both correction (provided the current ABC seems to be a flat correct) Second, if we look through the same time above, we see that A wave bounces on the 50 EMA, breaks below, back test then finds support on the 200 SMMA Comparing the current bear market to what was discussed above, we can see so far we have done exactly the same (provided the current ABC seems to be a flat correct) If we are to follow the path in the 2013 to 2015 we need to go test the 50 EMA, get rejected then test the 200 SMA for support one more time before we head higher. (We need to watch this carefully) Another thing to consider is the time it took (for the 2013-2015) and currently taking for this current correction. Now lets talk about fundamentals for why we could rally to new highs. We can look to the current currency issues with the bank of England and Japan, with the BOE starting QE again. As Peter Schiff said in his tweet today, which country is next? You can rest assure if the British and Japanese economies are struggling then they are more shoes to drop The fed has also printed ~40% of the US currency in the last few years, which is dilution and should cause the dollar to fall in the long run. Yet the dollar is acting like a meme stock (just looks at the chart), pumping after being diluted by almost 50% Bitcoin was started during world financial chaos and it should thrive in this chaotic time as people start to see their purchasing powers reduce due to inflation and currency losing its value But why the PT of about 500K? Well if you look at the fractal and Cathie wood has been screaming BTC is headed to 500k if institutional investors move into Bitcoin and allocate 5% of their portfolios,” the price of the cryptocurrency would soar to about $560,000 by 2026)? what better time for them to buy with all the chaos in the world right now (and maybe yet to come)
BITSTAMP:BTCUSDLong
by BlackisKing
11
Bitcoin Cash Surges After Whale AccumulationWhile Bitcoin Cash may not be making headlines in 2023, this altcoin is demonstrating optimistic signs starting in 2024. The Bitcoin-named cryptocurrency is undergoing a recovery, currently grappling with a crucial resistance level that has acted as a barrier to its recovery since July. Ahead of the FOMC meeting, investors exhibit caution, reducing risk as evidenced by a 40% drop in trading volume over the past 24 hours. Following the release of U.S. CPI data in November, the price of Bitcoin briefly surged to $42,000 before retracing. Looking ahead, the prevailing view is that the Fed will maintain interest rates at the target range of 5.25-5.50%. In the latest meeting in November, the FOMC held interest rates steady, consistent with the September meeting, signaling that rates may not change in the near future but remaining open to adjusting this stance based on economic conditions. The temporary halt in rate hikes is an anticipated outcome, allowing the Fed more time to assess whether the current interest rates effectively curb inflation that poses a threat to economic growth. The target range of 5.25% to 5.50% was raised during the July meeting, marking the 11th interest rate hike in the 2022/2023 cycle, all aimed at managing inflation. This explains the observed uncertainty in Bitcoin prices.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Holds Strong at $40,000 Amid SEC ETF Anticipation Bitcoin (BTC) continues its upward trend despite early Asian trading hours witnessing severe downturns. The anticipation around the U.S. Securities and Exchange Commission (SEC) approving cryptocurrency exchange-traded funds (ETFs) plays a significant role. Google even hints at this, stating that "advertisers offering cryptocurrency trust funds targeting the U.S. to advertise those products and services" starting January 29, 2024. Notably, this aligns with the expected approval of Bitcoin exchange-traded funds (ETFs) in the U.S. during the same month. Bitcoin's price bouncing back to the $40,400 low is a healthy reassessment, with the $40,000 psychological level holding as support. If this level remains steady, the idea of a new all-time high could emerge. While the potential for price increase remains strong for Bitcoin, the Relative Strength Index (RSI) has yet to surpass 70. However, the Awesome Oscillator (AO), displaying significant green histogram bars, indicates the bullish presence remains robust. The RSI may simply stay above 70. Increased buying pressure at the current level could drive Bitcoin to break through the weekly supply zone ranging from $40,698 to $46,999. A weekly candle closing above the $43,860 moving average will confirm the continuation of the uptrend. Such a move would set the stage for Bitcoin to turn the weekly supply into a trend-breaking tool, confirmed by action above the $48,725 resistance. In the case of a strong uptrend, Bitcoin may extend to challenge the $66,098 resistance, turning it into support. Conversely, if the weekly supply is defended as a significant resistance zone, Bitcoin may head south, breaking the $40,000 support. A weekly candle decisively closing below this level could push BTC into a downward spiral, possibly testing the $30,000 psychological level.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Core Developer Flags Ordinals as Blockchain VulnerabilitBitcoin Core developer Luke Dashjr argues that Ordinals represent a vulnerability causing transaction fees to rise and need to be eliminated. Addressing this loophole would remove Ordinals from the BTC blockchain, clearing clutter from the text strings. BTC Price Surges Nearly 11% in the Past Week, Reaching $44,700 on Friday. The online bitcoin community is embroiled in a debate over whether Ordinals pose a threat to the BTC blockchain. While Bitcoin Core developers like Luke Dashjr view text strings as spam, others see them as a development for the BTC blockchain on the X social media platform. Read also: Solana Continues to Attract Capital from Ethereum, SOL Price Maintains Above $72 Ordinals Currently Identified as a Vulnerability Luke Dashjr informed his 83,300 followers in a recent tweet on X that text strings are exploiting a vulnerability in Bitcoin Core to spam the blockchain. Since 2013, Bitcoin Core has allowed users to set limits on the size of additional data in transactions they forward. Text strings surpass this limit, making them "vulnerable." Dashjr states that Bitcoin Core remains vulnerable in the upcoming v26 release and developers hope to address this issue by v27 next year. The developer argues that miners must be honest and non-malicious, but allowing text string alterations on the Bitcoin blockchain will increase transaction fees. While advantageous for miners, it constitutes an attack on the BTC blockchain network. Text strings are considered a technical vulnerability that could have long-term implications for Bitcoin users due to its impact on network security and integrity. At the time of writing, Bitcoin is priced at $43,694 on Binance, bringing nearly an 11% profit for BTC holders on Binance over the past week.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin: "Gold on Steroids" with Surging Institutional Investmen Bitcoin has often been compared to gold over the years. Initially viewed as a "safe haven" similar to gold, analysts are now comparing the two investments to determine if Bitcoin meets the criteria of being "gold on steroids." In the past 5 years, up to November, Bitcoin's Sharpe ratio has competed favorably when compared to gold and other proven assets in the market. The Sharpe ratio is defined as the difference between risk-free and investment returns divided by the standard deviation of the investment. Timmer argues that Bitcoin is more volatile than most other assets, but this volatility impacts both directions, and BTC investments come with their own risk-reward profile, akin to what has been observed over the past decade. According to a report by CoinShares, institutional investors continue to pour funds into Bitcoin funds, with a weekly inflow of $132.8 million recorded as of December 4th. At the time of writing, the price of Bitcoin stands at $44,162 USD on Binance.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin's Potential Drop to $42,000 Hinges on US NFP ReportBitcoin's Price Faces Potential Decline Bitcoin is currently trading at $43,241, struggling to surpass the $44,500 mark, leading to minor corrections. While the broader market outlook leans towards an upward trend at the time of writing, the short-term picture suggests a potential downside. This is evidenced by the Convergence Divergence Moving Average (MACD) indicator. The diminishing green bars indicate a weakening upward trend, signaling a potential decline in Bitcoin's price. However, BTC is likely to retreat to $42,000 or $40,000 if the previously established support level is breached. This is a short-term scenario contingent on a stronger-than-expected NFP report. Yet, if the report is weaker or broader market signals shift towards an upward trend, a recovery from the $42,000 level becomes plausible. This would fuel an upward trajectory, pushing Bitcoin beyond $44,500 and undermining the bearish sentiment. The market dynamics are closely tied to the upcoming NFP report, and a divergence from expectations could significantly impact Bitcoin's price movements. Traders will be watching for signals of either a deeper correction or a potential recovery based on the economic data.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin (BTC) Price Rally Sparks Enthusiastic MomentumAfter a period of consolidation, Bitcoin has undergone a rapid and decisive price surge. Successfully maintaining its position above both the 50-day and 200-day moving averages, indicative of robust and sustained bullish sentiment. The fanning out of the moving averages is often interpreted as a sign of increasing momentum. Furthermore, recent green candles on the chart, characterized by large bodies, reflect strong buying pressure. The absence of long wicks suggests that pullbacks are swiftly being bought, demonstrating a solid presence of fundamental buying strength in the market. This scenario often aligns with institutional investment activity, as institutions tend to execute strategic, large-scale purchases rather than quick transactions. In the immediate term, Bitcoin appears to be approaching resistance levels at recent highs, with potential pullbacks likely to test the strength of current support levels. As Bitcoin enthusiasts closely monitor these developments, the market dynamics indicate a shift towards a more optimistic outlook, driven by both technical indicators and institutional investment behavior.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Price Expected to Surge by 20% to $50,000 The price of Bitcoin (BTC) is currently on an upward trend. Surpassing the psychological level of $42,000 has sparked optimism, with Bloomberg setting an ambitious target for the largest cryptocurrency by market capitalization. According to the news outlet, Bitcoin reaching $42,000 is just the beginning of a new crypto super cycle that could propel the world's largest token to over $500,000, as advocates claim it heralds a new monetary order making waves on Wall Street. Meanwhile, the price of Bitcoin is caught within a weekly supply zone ranging from $40,517 to $46,972. To confirm the continuation of the primary trend (upward on the weekly timeframe), the price needs to break and close above the midpoint of the supply barrier at $43,860. A decisive move above this level could see Bitcoin extending its rally, turning the supply zone into a bullish trend-breaking tool as BTC aims for the forecasted psychological level of $50,000. In the case of a significant price increase, the surge may encounter resistance at $55,560. It is even plausible to extrapolate these increases to the highest range of $66,098. Such a move would constitute a 56% increase from the current level. The Relative Strength Index (RSI) supports this outlook as its upward movement indicates bullish momentum. Similarly, the bars on the Awesome Oscillator (AO) chart are green in the positive zone, signaling that the bull camp is leading the market. These factors add confidence to the optimistic viewpoint. As Bitcoin continues to make headlines, market participants are closely watching for potential breakthroughs and milestones in its price journey.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin - How to trade BOLLINGER BANDSHi Traders, Investors and Speculators📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. When it comes to Technical Indicators, speculators have many options to choose from. Do you prefer to keep it simple? If your answer is YES, the Bollinger Bands are for you. First, a little about the genius behind it, John Bollinger. Bollinger Bands were created by John Bollinger in the 1980s. He is still very much alive and well, and very active on Twitter. He constantly engages the community through seminars and interviews. As you can see, I'm a huge fan of his work! This revolutionary technical indicator offers insights into price potential and possible volatility. Let's get technical : The higher the price action trades at the top/ upper part of the BBands, the more volatility and volume you can expect. The same is also true for the opposite - the lower the price trades on the bottom of the BBands, the more volatility and volume you can expect. It is also true that when the price trades at the top for an extended period of time, the market can be considered overbought; thus it is a good time to consider selling. The same is true for the opposite. When the price trades on the bottom of the Bollinger Bands for an extended period of time, the market is considered oversold and it is a good time to consider opening a position / buying. Important to note that the Bollinger Bands are especially useful and reliable in higher timeframes. To make overbought conditions and oversold more clear, let's take a look at a few examples on SOLUSDT: From the Solana chart above, we see clearly that when the price action touches an orange band, it is often time to exit / enter. You can wait as the price continues upwards, but the longer you wait, the more your risk increases. Careful not to be greedy, take profits during a bullish cycle. To make volume in conjunction with BBands more clear, let's take a look here on ETHUSDT: You'll notice that usually on higher timeframes, the turquoise upper / lower band, is where you start paying attention. This is where firsts profits can safely be taken, with the possibility of the price still wicking towards the orange or red. To get a little more technical, let's take a look at accumulation options with the Bollinger Bands. When the BBands contract, it is usually before a big move up or down. Now you'll need to view the chart from a macro perspective/ Fibonacci trend based retracement and trend based extension on a weekly chart to get an idea in which direction it may go. This proves another point that often, technical indicators are only useful if used correctly with chart analysis. Let's take a look at a few examples on XRPUSDT : These are not the Bollinger Bands as they were created y John Bollinger, instead, they have Fibonacci lines added. I prefer to use them this way, it's an improvement on top of the original BBAnds. They become especially useful if you use it with another indicator called Phoenix Ascending. Find below at related ideas a quick guide on Phoenix Ascending. Have a great weekend 🚀 __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
43
Bitcoin Price May Drop to $40,000, Key Indicators Suggest The price of Bitcoin (BTC) is approaching the psychological level of $40,000 and could erase it before undergoing a correction. Several bullish indicators, including the Relative Strength Index (RSI), have strengthened the prospects for further price increase. The RSI, a momentum indicator, indicates increasing momentum with its position at 68, suggesting there is still room for upward movement before the cryptocurrency king could be considered overbought. Furthermore, the Awesome Oscillator (AO) is in positive territory, with green bars on the chart, indicating that the bullish camp is leading the market. Therefore, increased buying pressure could see the price of Bitcoin rise from the current level of $39,462 (as of 8:00 AM GMT), surpassing the recent high within the range of $39,778 before testing the psychological level of $40,000.
BITSTAMP:BTCUSD
by Larissa-Trader
2