Author: Sollcrypto

Prominent crypto analyst Mickle has predicted that XRP could see a significant price surge to $44 against Bitcoin during the current bull market. This updated forecast builds on his earlier analysis, where he anticipated parabolic gains for XRP relative to Bitcoin. Mickle’s conclusions are based on a detailed examination of the historical XRP/BTC price charts. He observed that XRP recently formed a historically bullish bottom pattern against Bitcoin, with the XRP/BTC value dropping to 0.00000661 BTC just a few weeks ago. This marks the fourth time in XRP’s history that the asset has reached extremely low levels against Bitcoin, followed…

Ethereum Faces 26% Monthly Decline, Sparking Recovery Concerns Ethereum has experienced a challenging month, with its price dropping by 26% over the past 30 days, dipping below $2,111. Currently trading at $2,579, the second-largest cryptocurrency reflects a 3% decline, and its trading volume is down by 2%. Despite this downturn, there has been a noticeable increase in whale activity and network movements. A key development in the Ethereum ecosystem is the significant drop in gas fees, which have reached their lowest levels in five years. Industry experts suggest that this dramatic reduction in transaction costs might signal a potential price…

Bitcoin (BTC) is still in a consolidation phase, according to seasoned market analyst Peter Brandt, who has reiterated his view. Recently, BTC experienced a modest recovery, briefly climbing back above $61,000, sparking renewed optimism about a potential broader market rebound. CryptoQuant analyst Axel Adler even suggested that the consolidation phase might be nearing its end. However, Bitcoin soon retreated, falling below $60,000 and continuing to trade within a wide range. Brandt highlights that the lack of a clear trend contrasts with the optimism of some analysts who predict an imminent breakout. The Bitcoin Megaphone Pattern Brandt’s weekly Bitcoin chart showcases…

As the broader cryptocurrency market undergoes a cooldown, the popular dog-themed meme coin Shiba Inu (SHIB) is no exception, showing declines across its recent price charts. Machine learning and artificial intelligence (AI) algorithms also present a pessimistic outlook. Indeed, the momentum has slowed for many digital assets, including Shiba Inu, which is currently the 13th-largest asset in the crypto sector by market capitalization. This downturn persists despite recent innovations, such as the launch of the ShibTorch burn portal on the Shibarium network. In other words, if this prediction, which relies on indicators like Bollinger Bands (BB), relative strength index (RSI),…

Although Ethereum’s (ETH) rally at the start of 2024 was as strong as that of many other major cryptocurrencies, its subsequent performance has been marked by substantial fluctuations. In recent weeks, it has experienced a significantly greater drop than its peers. As of August 19, Ethereum is still up 14.62% year-to-date (YTD). However, it has dropped 26.25% in the last 30 days, with the current price at $2,578.30—more than 36% below its yearly high of over $4,070. Despite the volatility, 2024 has been a pivotal year for Ethereum, with increased adoption by institutional investors partly driven by the approval of…

Despite Bitcoin’s (BTC) efforts to surpass the $60,000 mark over the weekend, it faced a strong rejection and subsequently fell to $58,000. The exact reason for this decline remains uncertain, but cryptocurrency investor HODL15Capital suggests that increasing short positions may be to blame. In a post on his X account, HODL15Capital observed a sharp rise in Bitcoin short positions across multiple exchanges as soon as BTC hit $60,000. He highlighted a significant imbalance on platforms such as Deribit, Bitmex, Bitfinex, Kraken, and HTX. HODL15Capital also noted a rise in Ethereum short positions and pointed out that highly leveraged short positions…

Cardano Trading Volume Surges 150%, But ADA Price Drops 4% The crypto market has seen a significant increase in Cardano’s trading volume over the past 24 hours, but the blockchain’s native token, ADA, has not reflected this in its price. Bullish Cardano Volume Data Data from CoinGlass reveals that Cardano, the 11th largest cryptocurrency by market capitalization, experienced a 150% surge in trading volume within 24 hours, reaching approximately $477 million. CoinGecko also confirms this trend, showing a 67% increase in Cardano’s trading volume from the previous day’s $358 million. Despite this, ADA’s price has not seen a corresponding rise.…

Bitcoin Miner Outflows Surge to 19,000 BTC After August Price Dip Recent market data reveals that Bitcoin, the leading cryptocurrency, has experienced significant outflows coinciding with a price dip. CryptoQuant, a well-known on-chain analytics firm, reported that Bitcoin miner outflows surged to 19,000 BTC on August 5th, marking the highest outflow level since March. The analytics platform shared these details on its official social media account. “We may have seen a miner capitulation last week as Bitcoin outflows hit 19K $BTC on Aug 5, the highest since March. Miners likely sold as their profit margins were squeezed to 25%, the…

Litecoin (LTC) Sees Price Surge: Bullish Patterns Hint at Potential 4x Increase Litecoin (LTC), the world’s 19th largest cryptocurrency by market cap, has experienced a notable price surge, pushing its market cap to $4.9 billion. Over the past 24 hours, spot trading volume increased by 40%, reaching $410.08 million. This growth in activity led to a 24-hour volume/market cap ratio of 8.09%, indicating increased liquidity. Grayscale Investments Holdings recently reported growth in Litecoin, hitting a high of 1.84 million LTCN shares. This heightened interest has driven Litecoin’s price surge, demonstrating its significant impact on the market. According to on-chain research…

Bitcoin’s price has dropped nearly 6.85%, landing around the $57,000 mark due to growing market concerns. Transactions related to Mt. Gox and a significant $300 million BTC transfer by the U.S. government have intensified fears of a market sell-off. On Thursday, Bitcoin’s price fell to $57,733, spurred by concerns over possible token distributions from the defunct Mt. Gox exchange and substantial capital outflows from major exchanges. This decline occurred despite positive U.S. inflation and interest rate data, reflecting a rising risk-off sentiment among investors. Recent developments have exacerbated fears of increased selling pressure on Bitcoin. Mt. Gox, which began returning…