by Penny Angeles-Tan | Oct 15, 2024 | Business
Bitcoin price is up and reaching over $65,000. Is this increase because #Uptober is coming or is it just a coincidence and BTC price will go down again tomorrow? Check out the explanation in this article.
Yesterday, Bitcoin received a prediction that its price would increase, today this prediction came true. Bitcoin Price rose to a level of more than $65,000 today.
Is it true that the increase in BTC prices is because #Uptober has come as predicted? Or will this price increase only last today and will decline again tomorrow?
Check out the detailed explanation by reading this article to the end.
Bitcoin Price Chart Today
After Bitcoin experienced a continuous decline in price for a long time, today Bitcoin finally penetrated the $65,710 level with an increase of +2.46%. In fact, within 24 hours, Bitcoin reached its highest price of $66,499.
You can see a screenshot of the Bitcoin price chart above taken from the Bitrue market. The BTC RSI indicator reached 65, which is a good number in the buying trend because it is more dominant than the selling trend. However, this dominance is still within reasonable limits, not overbought.
The MACD line is clearly visible rising. The two lines also have a clear distance so that the bullish trend will come soon.
So, we can be optimistic that today’s Bitcoin price increase is the beginning of BTC’s bullishness until the end of 2024. In fact, it is predicted that it will experience a price increase until 2025 based on its performance cycle in the last 4 years.
Bitcoin Dominance in the Crypto Market
Bitcoin has indeed become the dominant coin in the crypto market. With today’s price increase, BTC dominance is at 58.04. This dominance figure is indeed relatively high, but has decreased by 0.06%.
The price of Bitcoin is like the price of other crypto tokens which experience price fluctuations every day. However, it cannot be denied that Bitcoin has had a fantastic price increase since its first appearance.
Larry Fink, CEO of Blackrock, even stated that Bitcoin could be considered a quality investment asset that could compete with gold.
Bitcoin, which has penetrated the investment stock market, is also increasingly recording major achievements. Bitcoin ETF inflows reached $23 billion and are predicted to continue experiencing significant growth in the future.
Conclusion: the Rising of BTC Price and #Uptober Optimism
#Uptober 2024 seems to be weakening in its presence. Moreover, there are many factors that make the arrival of this annual tradition seem late or even absent this year. However, today’s Bitcoin price increase is good news and makes the crypto community optimistic about the presence of #Uptober.
#Uptober is predicted to come in mid-October around October 17/18. If the price of Bitcoin remains at $65,500, it means that #Uptober has really come.
For those of you who want to know about #Uptober developments, Bitcoin prices, and the condition of other coins in the crypto ecosystem, the Bitrue website is the answer. You can access the Bitrue website every day wherever you are for free.
Do a price check BTC to USD, BTC to USDT, and against the prices of other crypto tokens as a comparison. You can easily use all the features on Bitrue to do independent research before deciding to buy BTC coins or other crypto tokens.
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
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 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.
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