Analysis Today TheBitTimes.com

Almost since its inception, the crypto market has been marked by its significant and often sudden price movements. Various crypto currencies have surged by several thousands of percent in mere months before tumbling close to $0 just as fast. Last year, 2022, saw what has largely been termed the “ crypto winter” and significant price drops across the industry – both for giants like Bitcoin (BTC) and the smallest altcoins. This year weaved an opposite story, with most crypto currencies – large and small – experiencing significant price increases. Now, with 2024 fast approaching, many investors and traders are wondering what the new year might bring for the ever-shifting industry and whether the current bullish trend is likely to continue. Will Bitcoin reach $100K in 2024? Multiple bull markets – and even some bear markets – have brought predictions that BTC is about to reach a value of $100,000. In fact, as recently as November 27, the British Standar...

BTC price action has yet to match one Bitcoin trader's long-term target, but "patience is key," he says nearly one year later. Bitcoin (BTC) is nearing a key Fibonacci retracement level which could mark the top of its “pre- halving rally.” That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre- halving BTC price target of up to $50,000. Trader: $39,000 is pre-halving BTC price target range floor Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week. As Cointelegraph reported, the area immediately below also holds significance for aggregate market profitability, with $39,000 likely a breakeven point for those who bought in during the 2021 bull market. Titan of Crypto has also flagged $39,000 as an important boundary — this time, however, as the bottom of where BTC/USD should end up prior to the April 2024 block subsidy halving event. “The pre halving rally I...

As XRP’s price continues its steady ascent, we dissect the factors contributing to its sustained growth, from legal victories to strategic partnerships that shape its market standing. Ripple’s cryptocurrency, XRP, has distinguished itself as a notable performer in the digital currency market over the past month.  As of Nov. 6, XRP has experienced a substantial surge, soaring almost 40% in the last 30 days to levels not witnessed since July 2023, peaking at $0.7299. Currently, XRP is trading at around $0.72, marking a strong recovery, though it still trades well below its all-time high of $3.842 from January 2018. This recent rally is not an isolated incident but rather part of a broader bullish trend throughout 2023, with XRP’s price climbing over 100% from the beginning of the year.  This positive momentum reflects growing investor confidence, potentially linked to Ripple’s progress in enhancing cross-border payment systems and its perceived advantages in th...

Bitcoin has the potential to deliver gains which are stronger than "most think," market analyst Rekt Capital believes. Bitcoin (BTC) faces a “bottoming candle” in 2023, but BTC price action is still more than able to surprise the market. In a tweet on Jan. 11, popular trader and analyst Rekt Capital predicted that BTC/USD could see “decent upside” this year. Chart teases serious Bitcoin upside potential Analyzing Bitcoin’s four-year market cycles around block subsidy halving events, Rekt Capital drew attention to 2023 being the deadline for its next “bottoming candle.” With the next halving due in 2024, the coming twelve months should see a price floor, followed by a rally as the event draws nearer. 2024 thus forms the fourth candle in Bitcoin’s current cycle, and 2023 the third. “Candle 3 is a Bottoming Candle in the BTC Four Year Cycle. But it can still generate decent upside,” Rekt Capital commented. The scope for Bitcoin to take traders by surprise is clearly visible i...

Analysts expect the bear market to loosen its grip in 2023. Here are five cryptocurrencies to keep an eye on. It has been a tumultuous year for the crypto investors who have witnessed the total crypto market capitalization tumble from about $2.2 trillion at the beginning of 2022 to about $850 billion in December. The sharp erosion in valuation was caused due to several high-profile bankruptcies in 2022. The entire Terra ecosystem imploded with the collapse of its LUNA token and TerraUSD (UST) stablecoin. The failure of Three Arrows Capital followed this black swan event, and the final blow came as FTX underwent a bank run and imploded. These back-to-back events triggered a liquidity and credit crunch and appear to have caused the most damage to the crypto industry. A prolonged bear market tends to test investors’ patience, but it offers one of the best opportunities to buy fundamentally sound cryptocurrencies at lower levels. Smart investors who can go against the herd and invest duri...