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.
by Penny Angeles-Tan | Oct 9, 2024 | Business
The crypto market is currently not doing well. However, the price of SUI has been steadily increasing in the past month. What is the reason for this increase in the price of the token?
Amid the crypto market, which is currently red, a piece of good news came from SUI. SUI Price experienced a significant increase of up to 20% in the last 24 hours when BTC, ETH, BNB, SOL, and USDT experienced a price decline.
What is the reason behind this spike in token prices? Read the explanation in this article until the end.
Why are SUI prices increasing?
In terms of market capitalization, SUI is ranked 18th. Even though it has not yet entered the top ten, in the last month, SUI’s performance is considered very good. This is because SUI experienced an increase of up to 124% during that time.
There are several reasons why SUI prices have increased, one of which is the news that the USDC Circle stablecoin will be launched on the Sui Network. The announcement of this launch was made on September 17 and since then, the price of SUI tokens has experienced a steady increase until now.
The launch of USDC is considered important because it is classified as the second largest token in the world as a currency that is used significantly in on-chain transactions besides USDT. SUI, which has experienced a smart contract network, makes investors optimistic about the innovations that will occur in the future.
Apart from the news of the launch of USDC on the SUI network, support from one of the global crypto exchanges also makes SUI even more prominent among investors.
Current SUI Price Chart
At the time of writing, SUI was trading at $2.0134 with an increase of +3.79%. The highest price was $2.1646 in the last 24 hours.
It can be seen from the capture above taken from Market Bitrue, SUI currently has a positive outlook price chart. The RSI indicator is at 59, which means the buying trend dominates positively compared to the selling trend.
The MACD SUI indicator also appears to be climbing upwards. SUI token holders must get ready because a bullish SUI trend will occur.
Current Crypto Market Conditions
As mentioned at the beginning, currently the crypto market is red. Large tokens, such as BTC, ETH, and SOL experienced significant price declines.
Bitcoin Price currently is $62,213 with a decline of -2.22%, Ethereum price was $2,422 with a decline of -2.54%. The decline in SOL is higher, namely -4.06%, and currently Solana is trading at $142.86.
This condition occurs due to several factors, one of which is because the conflict between Iran and Israel has continued to heat up since October 1. October is much awaited as a happy month with its #Uptober.
However, given the nature of the crypto ecosystem’s reaction to conflict between countries, will #Uptober still happen? You can follow the latest conditions in the crypto ecosystem by reading Bitrue articles.
by Penny Angeles-Tan | Oct 8, 2024 | Business
Currently, Bitcoin price is decreasing. However, crypto analysts predict that Bitcoin will experience a short squeeze. How is the explanation? Read this article until the end.
There is a reason why Bitcoin is called the king of crypto. Not only because BTC was the first token created, but also because over time, Bitcoin price reliable.
Today, Bitcoin is indeed red, just like the majority of other crypto tokens. However, crypto observers predict that Bitcoin will experience a significant increase this October.
Is that true? Let’s look at the explanation in this article.
Current State of the Crypto Market
When this article was written on October 8 2024, the crypto market situation was not good. The majority of crypto tokens have experienced price declines, including Bitcoin.
This condition is quite worrying because October should be a month with good news for crypto token holders. However, #Uptober was eliminated when the conflict between Iran and Israel heated up on October 1. This is because the crypto ecosystem is very reactive to conflicts between countries.
At the moment, BTC price is also still experiencing a decline of -2.04%. Bitcoin’s price was %62,366, quite a drop compared to its 24-hour high of $64,473.
Trust in Bitcoin Still Very High
Among investors, whatever the investment instrument, there are investment strategies that are believed to provide maximum profits. This strategy is to provide the investment product when the price falls.
This strategy is widely used by crypto token holders. When Bitcoin prices fell recently, many large companies bought up BTC, such as MicroStrategy and Metaplanet from Japan.
On Monday, Metaplanet even bought 108,786 BTC so its ownership of this token is now 639.5 BTC with a value of more than $40 million. With similar enthusiasm from various parties for Bitcoin, this token still has high trust in the crypto ecosystem.
Quoted from TradingView, Bitcoin’s dominance in the crypto market was 58.10% on October 8, 2024. This figure shows an increase of 0.05%.
Bitcoin Will Experience a Short Squeeze?
Quoted from Coineagle, Bitcoin price is predicted to experience a short squeeze. This prediction is because Bitcoin is approaching a significant liquidation level where this number often triggers incorrect predictions that the token will fall, but the opposite happens.
This prediction will be even more positive if the Bictoin price manages to penetrate the $66,200 mark where the next price will rise significantly to $70,300 or even reach $72,578.
If we look again at the screen capture of the Bitcoin price graph above, we can see that even though BTC is currently experiencing a price decline, the indicators can provide a sense of security.
Because the RSI value of BTC is 48. Even though the selling trend is greater than the buying trend, there is no overselling phenomenon from holders of this coin. The MACD indicator is also still above the limit line, which means that a bullish trend could occur suddenly in the future.
Conclusion
Bitcoin prices are very volatile, just like other crypto tokens. Here’s why you should check how to buy BTC so you can better understand how to allocate investment funds according to your abilities.
You don’t need to be confused about checking Bitcoin prices in real-time. Bitrue provides features that you can use for free and can be used at any time. You can check the price conversion from BTC to USD without having to move websites.
You must be logged in to post a comment.