Bitcoin has the potential to deliver gains which are stronger than "most think," market analyst Rekt Capital believes.
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Bitcoin gained 300% in year before last halving — Is 2023 different?
Bitcoin (BTC) is facing 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 12 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.
Nigerian innovator launches first active Bitcoin Lightning node in the country
A new Bitcoin lightning node in Nigeria could inspire individuals to take “control of their financial future” and break free from ‘rotten' financial systems node runner Megasley told Cointelegraph.
FTX has recovered over $5B in cash and liquid crypto: Report
Previous reports suggested that FTX saw losses peak at nearly $9 billion in total liabilities.
Solana price rally risks exhaustion after SOL's 120% pump in two weeks
Solana (SOL) price is up an impressive 60% since the new year, partially boosted by hype surrounding meme cryptocurrency Bonk (BONK). However, the SOL/USD pair now shows signs of exhaustion, raising anticipations that the token may see a short-term correction in the coming days.
Solana turns overbought
Solana is one of the best performing cryptocurrencies so far in 2023 after being one of the biggest losers in 2022.
On Jan. 9, SOL's price jumped to as high as $19.50, or around 120% gains in a recovery rally after sliding below $8 on Dec. 29, 2022.
But the price spik also turned Solana into an overbought asset, per its daily relative strength index (RSI) reading above 70, as shown below.
SOL/USD daily price chart. Source: TradingViewTraditional investors typically see an overbought RSI as a potential sell signal, given the indicator has historically coincided with a period of buyer exhaustion. As a result, SOL's price could enter a correction or a sideways consolidation stage to bring back its RSI below 70.
Solana price rally risks exhaustion after SOL’s 120% pump in 2 weeks
The price of Solana’s SOL (SOL) cryptocurrency is up an impressive 60% since the new year, partially boosted by hype surrounding meme cryptocurrency Bonk. However, the SOL/USD pair now shows signs of exhaustion, raising anticipation that the token may see a short-term correction in the coming days.
SOL turns overbought
SOL has been one of the best-performing cryptocurrencies so far in 2023, after being one of the biggest losers in 2022.
On Jan. 9, SOL’s price jumped to as high as $19.50, or gains of around 120%, in a recovery rally after sliding below $8 on Dec. 29, 2022.
But the price spike also turned SOL into an overbought asset, per its daily relative strength index (RSI) reading above 70, as shown below.
SOL/USD daily price chart. Source: TradingViewTraditional investors typically see an overbought RSI as a potential sell signal, given that the indicator has historically coincided with a period of buyer exhaustion. As a result, SOL’s price could enter a correction or a sideways consolidation stage to bring its RSI back below 70.
Abu Dhabi-based Venom Foundation launches $1B fund for Web3 and blockchain
Venom Ventures Fund is allocating $1 billion to invest in Web3, blockchain and cryptocurrency projects and services.
Music NFTs are helping independent creators monetize and build a fanbase
The Agenda podcast chats with Adam Levy of Mint and rapper Jay Kila about nonfungible tokens, Web3 and the struggles of being an independent musician.
Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt
After having about $290 million locked at Digital Currency Group, Bitvavo decided to prefund the assets on its own and is now looking for full repayment.
Hong Kong watchdog aims to restrict retail traders to liquid products
When asked about Bitcoin or Ether, SFC executive Julia Leung Fung-yee did not respond but reiterated that “highly liquid” will be allowed.
Hong Kong watchdog aims to restrict retail traders to liquid products
When asked about Bitcoin or Ether, SFC executive Julia Leung Fung-yee did not respond but reiterated that “highly liquid” will be allowed.
WazirX releases proof of reserves with majority of funds in Binance wallets
The cryptocurrency exchange released its proof of reserves and proclaimed to be India’s largest exchange both in volume and reserve funds.
DCG chief Barry Silbert pens letter to shareholders, community reacts
Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter to him accusing him of defrauding customers.
DCG chief Barry Silbert pens letter to shareholders, community reacts
Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter to him accusing him of defrauding customers.
Argo Blockchain mines 25% less Bitcoin due to winter storm at Helios
Argo Blockchain mined less Bitcoin than expected in December due to the firm curtailing mining operations at Helios amid extreme weather conditions.
Bitcoin price taps $17.5K as traders in 'disbelief' doubt crypto rally
BTC price action returns to the $17,500 mark for the first time in almost a month, but traders refuse to flip bullish.
Bitcoin price taps $17.5K as traders in 'disbelief' doubt crypto rally
Bitcoin (BTC) staged a brief but promising return to $17,500 overnight on Jan. 11 as newfound strength lingered.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin fails to win over skeptical traders
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new local highs of $17,504 on Bitstamp.
Almost tying with the peak from Dec. 16, the pair displayed rare upside momentum against a backdrop of some of the lowest volatility ever seen over the holiday season.
Now, traders and analysts anticipate an erratic reaction to upcoming macroeconomic data from the United States. Due Jan. 12, the Consumer Price Index (CPI) print is expected to bolster the narrative that inflation is waning, offering a potential window of opportunity for risk assets.
Nonetheless, many voices urged caution, with signs of fundamental price support still lacking.
Bitcoin price taps $17.5K as traders in 'disbelief' doubt crypto rally
BTC price action returns to the $17,500 mark for the first time in almost a month, but traders refuse to flip bullish.
Bitcoin price taps $17.5K as traders in ‘disbelief’ doubt crypto rally
Bitcoin (BTC) staged a brief but promising return to $17,500 overnight on Jan. 11 as newfound strength lingered.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin fails to win over skeptical traders
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new local highs of $17,504 on Bitstamp.
Almost tying with the peak from Dec. 16, the pair displayed rare upside momentum against a backdrop of some of the lowest volatility ever seen over the holiday season.
Traders and analysts anticipate an erratic reaction to upcoming macroeconomic data from the United States. Due on Jan. 12, the Consumer Price Index (CPI) print is expected to bolster the narrative that inflation is waning, offering a potential window of opportunity for risk assets.
Cast your vote now!Nonetheless, many voices urged caution, with signs of fundamental price support still lacking.
Crypto exchange Zipmex probed by Thai SEC amid buyout
The cryptocurrency exchange is the subject of a probe by local monetary authorities in Thailand for a potential breach of local rules for digital asset service providers.