by Penny Angeles-Tan | Oct 15, 2024 | Business
Is it true that Solana price will soon reach the $210 level? Check out the analysis in this article because it will explain in detail why Solana could experience an increase in the near future.
Solana has received positive news recently, ranging from an increase in the number of users to the potential for a price increase of hundreds of times. In this article, you will find out that the potential Solana price rise at $210 is true for five reasons that will be discussed.
Check out this article to find out exactly what Solana will look like in the future.
1. Solana Crosses Resistance Level
Solana is predicted to reach the $210 level no later than 2025. One of the conditions for Solana to reach this price is if SOL can pass the resistance level at $148.16.
And surprisingly, Solana can easily reach this resistance level. When this article was written on October 14, the SOL price was trading at $152.92, surpassing the price target of $210.
You can see, several indicators in Solana price chart The above also shows the positive side. SOL’s RSI is at 72, far exceeding 50 as the balance limit for buying and selling trends. However, this figure is a sign that Solana is in a phase that is prone to over-buying.
Solana’s MACD shows a rise from the boundary line. If it continues like this, Solana’s bullish trend will occur. Moreover, the value of the BoP figure is also close to positive with a value of -0.11, which means that although the selling market still dominates compared to the buying market, it will soon be at a positive figure. So, the bullish trend is also optimistic from the existing BoP data.
2. Solana has 100M Active Wallets
Recently, active wallets on Solana reached 100 million users. This number is of course a big achievement for Solana because previously, at the beginning of 2024, the number was only 509,000 active wallets and now it has increased many times.
However, unfortunately, as quoted from Solana Hello Moon, a number of wallets actually have empty balances. The number of empty wallets is not small, but 86 million users. In fact, 15.5 million users only have 1 SOL in their wallets and 1.5 million wallets only have 10 Solana tokens.
Even though many wallets were empty, Solana also saw an increase in active addresses on its network. From the initial number of 3 million active addresses, it increased by 15% and became 3.47 million.
This increase in active addresses indicates that Solana has increasingly strong fundamentals so more investors trust Solana.
3. Popularity of Memecoin in the Solana Ecosystem
Recently, various new meme coins have emerged from the TON network with the Telegram game concept. Despite this, the popularity of meme coins on the Solana network remains superior.
Quoted from Dune Analytics data, Pump.fun, one of the meme coins on Solana, even achieved cumulative revenue of up to $127.8 million. This figure is of course very large.
Conclusion: from #Uptober to Trump’s Popularity for Solana
October is always a good month for Solana. This is why Solana token holders are optimistic that SOL will experience a significant price increase shortly.
Not only that, Solana is also predicted to experience a price jump of up to 400x if Donald Trump is elected president of the United States in the next period. This is because Trump’s policy of supporting crypto is analyzed as being more likely to benefit Solana. If this happens, Solana could outperform Bitcoin and Ethereum.
If you are interested in buying Solana tokens, don’t just buy the token without doing some research. Find out what the current condition of Solana is, the price of SOL to USD, to thoroughly study the fundamentals of this token. That way, you can know what the risks are when investing in this token.
by Penny Angeles-Tan | Oct 14, 2024 | Business
From conflicts between countries to global economic conditions, #Uptober 2024 is pessimistic to be present. Crypto coin prices are very volatile. Will #Uptober 2024 still happen? Read the full explanation in this article.
October is always an exciting month for the crypto ecosystem with its trending hashtag #Uptober. The reason is, that this month has a history of increasing coin prices, including Bitcoin. Moreover, Bitcoin also has a curse about September which always makes its price decrease.
However, October 2024 seems different compared to previous years where there has been movement since the beginning of the month. What is the condition of the crypto ecosystem in October this year? Will the tradition of price increases just come too late this month or will this year be an exception? Check out the complete analysis in this article.
Crypto Market in October 2024
Starting from Iran’s attack on Israel on October 1, the investment world was affected, including the crypto ecosystem. The majority of crypto coins experienced a decline in price, including large coins, such as BTC, ETH, SOL, USDT, and XRP.
The launch of various coins from Telegram games such as CATS also experienced a decrease in hype so the price did not match expectations, even far below the pre-market price.
Bitcoin Price is even known to have experienced a decline of up to $5000 until October 3, leaving it at the level of $61,000. Other tokens are in the red zone without being able to avoid unclear market conditions.
Bitcoin Price Conditions when #Uptober is Late
Now, October has entered its second week. Until now, the condition of the crypto market is still unpredictable, it is still very volatile. When this article was written, crypto market conditions were very good. The majority of tokens are in the green zone with not too significant increases.
However, Bitcoin price still hasn’t been able to surpass the price increase in September which is known as the curse of falling prices. Quoted from u.today, in an article written on September 28, the price of Bitcoin touched the $66,000 level in the last week. However, currently, Bitcoin is still stuck priced at $64,000 with conditions fluctuating since early October.
Above is the condition of the Bitcoin price chart when this article was written on October 14. As can be seen, the price of this coin king is $64,434 with an increase of +2.56% in 24 hours. Previously, BTC was at its highest price in a similar period at $64,860.
This highest price has actually passed the resistance phase which crypto analysts predict will be able to bring BTC to experience a price spike of up to $70,000. However, the highest price quickly fell and made BTC unable to maintain the resistance price for a long time.
Conclusion: Will #Uptober 2024 Be Here Soon?
#Uptober has become a tradition in the crypto ecosystem by using data from the last 5 years and showing similar trends, namely the increase in token prices in October.
Even though October 2024 looks quite pessimistic for crypto to experience the #Uptober tradition due to various conditions, in fact in previous years #Uptober did not happen immediately at the beginning of October.
In 2020, Bitcoin prices appeared weak until October 16 and only experienced a significant increase of up to 30% in the following two months. In 2021, the condition of the crypto ecosystem was also very volatile in October.
#Uptober in 2023 also only starts in mid-October with a steady price spike at the end of November.
With the data above, we can still be optimistic about #Uptober 2024. What is certain is that you can continue to follow the latest news about the crypto ecosystem by accessing the Bitrue website. Price checking Bitcoin to USD It can also be done easily with Bitrue so you don’t need to change websites.
To check how to buy Bitcoin tokens and others for those of you who have just joined the crypto ecosystem, Bitrue has various features that can help you carry out independent research.
by Penny Angeles-Tan | Oct 10, 2024 | Business
Top Altcoin assets are getting negative sentiment from the crypto community. This article will explain the current conditions of XRP, Solana, and Ethereum. Read the explanation until the end whether all three have the potential to increase in price.
Santiment, a crypto analysis company, stated that the crypto community is currently giving negative sentiment toward Altcoins, especially their major assets. However, this provides an opportunity for several major assets to experience price increases. Is that true?
You can see the analysis of several coins, namely XRP, Solana, and Ethereum in this article. The analysis will take the form of reading the price chart at the time this article was written so that you can get additional data to consider before buying these tokens.
Current Crypto Market Conditions
According to data from Santiment, the top 20 Altcoins receiving negative sentiment are:
Currently, the crypto market is experiencing a decline in prices for the majority of its tokens. Large tokens, such as BTC, Solana, Ethereum, XRP, and USDT price are currently in the red zone.
The size of the price drop varies, from -0.03% to Solana’s -3.19%. Of course, the reason for this price decline cannot be analyzed using just one indicator because there are many factors, ranging from global economic conditions, and conflicts between countries, to the most recent release of the HBO documentary about the revelation of the figure of Satoshi Nakamoto.
XRP: Potential to Break $12?
XRP Price today it is down by -1.03% so it is trading at $0.5251. Previously, XRP was at its highest price of $0.5345 in the last 24 hours.
XRP’s RSI value is below 50 so the selling trend is more dominant than the buying trend. The MACD line is also seen declining. With this data, the decline in XRP prices is natural.
However, the macroeconomic waves that are predicted to occur make XRP look positive for price increases. In fact, XRP holders and the community hope that the price of this token can reach the $12 level.
This high target price could be achieved because currently, XRP is applying for a second XRP-based ETF in the United States. If this ETF is approved, it is likely that XRP will experience a drastic price increase.
Solana: Price Rises if Trump Wins
A giant global banking company, Standard Chartered, predicts that Solana will experience a price increase of up to 5 times by 2025.
This prediction will allow Solana to outperform BTC and ETFs for its total market capitalization. And this prediction could happen if Donald Trump is elected as president of the United States for the next period.
Standard Chartered predicts that by 2025, SOL will rise 5x, ETH will rise 4x, and BTC will rise 3x. This is because the Trump administration with its regulations supports Solana more than all existing crypto assets.
At the moment, Solana price is experiencing a decline of -3.46% and is trading at $138.05. Even though the percentage decline in SOL is greater than other major assets, the RSI value of SOL is actually at 50.62, which means the buying and selling trends are balanced.
Even though the RSI value is still positive, Solana’s MACD line has dropped quite low which predicts a bearish trend could occur in the near future.
Ethereum: ETH Price Rises if Vitalik Buterin Wins Nobel Prize?
Vitalik Buterin is predicted to win the Nobel prize on October 14 as a figure who innovated a new currency. Vitalin Buterin is known as a figure who can revive the blockchain ecosystem and encourage Ethereum as a competitor to Bitcoin.
If the founder of Ethereum really gets the Nobel, Ethereum price can rise because many investors are interested in this cryptocurrency.
Currently, Ethereum is experiencing negative sentiment because its price continues to fall. An increase in the price of ETH did occur, but it did not last long and then immediately decreased again.
You can see from the price graph above, that ETH experienced a price decline of -2.17%. Currently, the price of Ethereum is $2,382 and was previously at a 24-hour high of $2,472.
Will Ethereum be free from negative sentiment and be able to penetrate the $2,600 level as crypto analysts predict?
Conclusion
That is an explanation of the current conditions of XRP, Solana, and Ethereum. For those of you who are interested in these three coins and want to do more in-depth research, you can check them on the Bitrue website.
You can use Bitrue features for free to check the price of crypto coins and keep up-to-date on the various projects in the crypto ecosystem.
by Penny Angeles-Tan | Oct 10, 2024 | Business
Since the HBO documentary about crypto was released, Peter Todd’s name has been in the news because he is accused of being the figure behind Satoshi Nakamoto. Is that true? Check out the explanation below.
The mysteriousness of Bitcoin’s creator seems to have caught the world’s attention. In fact, HBO has made a documentary entitled “Money Electric: The Bitcoin Mystery”. In the film, HBO claims that they discovered Peter Todd as the creator of Bitcoin.
Is the prediction true? Why is Peter Todd claimed to be Satoshi Nakamoto? Read the full explanation in this article.
Who is Peter Todd?
Peter Todd is a name that is currently booming after being said to be the figure behind Satoshi Nakamoto, the creator of Bitcoin who until now has never shown his figure to the public. Cullen Hoback, the director of “Money Electric: The Bitcoin Mystery” stated that he had strong evidence for the inclusion of Peter Todd’s name.
The accusations from the HBO film were immediately denied by Peter Todd. He even stated that this accusation was like a joke from a famous director because Satoshi Nakamoto couldn’t be him.
Many crypto observers also disagree with this because if you trace it logically, Peter Todd was still in his teens at that time and had still finished school.
Peter Todd even clearly stated that Cullen Hoback could have covered up the facts so that his name would be dragged into this matter.
Betting on Polymarket
Before the HBO documentary was released, a betting project had been circulating on Polymarket. There are many candidates mentioned there as targets regarding the revelation behind the figure of Satoshi Nakamoto who could be mentioned in HBO’s latest film.
However, there was no Peter Todd’s name in the betting selection. So, when people want to say the name, Peter Todd, they have to choose “Other”.
Before the film was released, the bet amount had reached $44 million.
Bitcoin and Its Mysterious Creator
Since its initial appearance in 2009, Bitcoin has taken the financial world by storm, especially digital investment. And since then, Satoshi Nakamoto has never been revealed to the public.
There are allegations that Satoshi Nakamoto is Japanese, as his name suggests, who has lived in England for a long time. The alleged place of residence is because someone has analyzed that some of the words written on White Paper Bitcoin are words commonly used by British people, not Americans.
Another suspicion is that Satoshi Nakamoto is not an individual, but a group. This is because the Bitcoin operating system is so complex and it seems impossible for just one person to do it.
Several figures have been named as candidates behind Satoshi Nakamoto, such as Dorian Nakamoto, Craig Wright, and Elon Musk.
The name Dorian Nakamoto is said to be a figure from Japan who lived for a long time in California. However, he was immediately denied because at that time Dorian Nakamoto was in a mediocre condition because he had been unemployed for a long time.
Craig Wright is the figure who confirms the accusations. He provided evidence that he was indeed Satoshi Nakamoto, including evidence that he wrote the Bitcoin White Paper. However, many crypto communities denied this and even the High Court had to take over and provide strong evidence that he was not Satoshi Nakamoto.
Elon Musk is said to be the figure behind the creator of Bitcoin because he was recommended by one of his employees at SpaceX. However, Elon Musk immediately denied this and stated that he was not Satoshi.
Conclusion: Current State of Bitcoin
Who is the original creator of Bitcoin is deliberately not revealed. The goal is simple, namely as a way to keep Bitcoin’s value-neutral without having to look at who the creator or parent owner is.
In the approximately 15 years since it was created, the value of Bitcoin has continued to soar. When this article was written on October 10, Bitcoin was priced $61,055 which means it has experienced a decline of -1.77% in 24 hours. This decline could have arisen from speculation about Satoshi Nakamoto’s figure by HBO.
Even though Bitcoin has experienced a decline in price today, the RSI value is actually above 50 so the buying trend is still dominant over the selling trend. The MACD line is also still above the limit line. That way, there is a possibility that Bitcoin will experience a bullish phenomenon shortly.
Convert value from BTC to USD is indeed strong. It’s no wonder that this coin is increasingly popular with investors and many are HODLing it.
For those of you who are interested buy BTC coins, do in-depth research first before buying it. You can do research on Bitrue with features that can be used for free, starting from checking BTC real-time price to the latest news about Bitcoin.
by Penny Angeles-Tan | Oct 10, 2024 | Business
Today, Ethereum price is increasing while the crypto market is in the red zone. Is this condition proof that Ethereum can reach the level of $ 2,600?
Since Iran’s attack on Israel, Ethereum price has been affected and experienced a decline as the crypto market has been very volatile this week. However, surprisingly today the price of Ethereum has increased, even leaving Bitcoin which has fallen in price.
Will Ethereum break through $2,600 as holders of this token hope? Read the complete analysis in this article until the end.
Will Ethereum (ETH) Price Break $2,600
Long-term holders (LTHs) of Ethereum often determine how the ETH token will be priced in the future. There are indicators of LTH behavior. Currently, Ethereum LTH is showing an accumulation mode which is providing a positive signal to the Ethereum price.
The more long-term holders who HODL will also make the price of ETH increase because it means there is long-term trust in this token.
However, investor sentiment towards Ethereum also varies. Although many investors HODL, there is a negative sentiment from investors regarding Ethereum’s ability to reach $2,600. This is because the price of Ethereum decreased by 7.3% from October 1 to 8.
The Impact of an HBO Documentary and the Price of Ethereum
This article was written on October 9, 2024, just when HBO scheduled its newest documentary entitled “Money Electric: The Bitcoin Mystery” to be broadcast.
The film is said to reveal who Satoshi Nakamoto is. The figures believed to be Satoshi Nakamoto are Len Sassaman, Hal Finney, and Adam Back.
This HBO film created a riot among crypto fans. It was stated that the documentary could influence Bitcoin price to Ethereum. Will the prices of BTC, ETH, and other crypto tokens drop when the film is finally shown by HBO?
Ethereum Price Chart Today
When this article was written, Ethereum experienced a price increase of +0.42% so that it was trading at $2,434. Even though the increase did not reach 1%, this can be said to be good news because the majority of crypto tokens today experienced a price decline, including BTC, SOL, and USDT.
However, the increase in Ethereum prices has not been calm. Because, if you look at the ETH price chart above, the RSI and MACD indicators actually show unpleasant signs.
Ethereum’s RSI is 41.9 points lower than 50, which means there is a large selling trend, more dominant than the buying trend. The MACD line is also declining. If this continues to happen, Ethereum will face a bearish trend.
Ethereum Versus Bitcoin
Ethereum has become the leading altcoin and is predicted to be an alternative coin that can beat Bitcoin. And as expected, the two tokens are always compared regarding their price ups and downs.
In terms of average price increases, the price of Bitcoin has increased by 128% from year to year, while Ethereum is only 53%.
Since it was first launched in July 2015, Ethereum has been able to reach the $1,300 level in 2.5 years since it was first launched. Ethereum reached the level of $4,891 in November 2021 but had to be willing to drop drastically to $900 in 2022 due to unstable world economic conditions.
Conclusion
That is an explanation of the price of Ethereum which has increased today and predictions of reaching the $2,600 level. You can do more in-depth research about Ethereum, from checking prices in real time to finding out about the latest ETH projects only on the Bitrue website.
Bitrue also provides a price conversion feature ETH to USD so you don’t need to change websites to check it. Understand more details about how to buy Ethereum before investing in this token.
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