btc price – CetoEX News Inform Trends & Happenings

Will Bitcoin Surpass $40,000 in Q1 or Q2, 2023?

Howdy — Mon, 27 Feb 2023 02:58:37 +0000

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Cetoex News – As Bitcoin [BTC] began its recovery phase, predictions about its next move began pouring in. With the world’s largest cryptocurrency reaching the $25,000 level, several believed that $30K would soon be on the cards for the asset. While BTC attempts to push past its $25K resistance level, a crypto analyst noted that $40K could be Bitcoin’s next target.

An analyst who goes by the pseudonym Kaleo pointed out that Bitcoin was eyeing the $40K price level. He wrote, “$40,000 is a magnet.” At press time, Bitcoin was trading for $23,888.01 with a 2.16% daily drop.

Last week, Kaleo remarked on Twitter that although $30K was undoubtedly a “magnet,” $40K was also one. The analyst predicted that between April and July 2023, Bitcoin might reach a high of $40K and a low of $30K with its 563,900 Twitter followers.

However, elaborating on his short-term prediction, Kaleo said,

“Bitcoin/BTC Squeeze back to approximately $26,000 to retest upper resistance from here makes sense on long-time frame. Timeline will be ecstatic about break out of pennant, but a retrace back to high $24,000s followed by more chop in the upper part of the range before we see the leg up to $30,000 sounds right.”

Source

Furthermore, he believes that Bitcoin may experience a correction as it moves into 2024. He highlighted that BTC could dip to mid-$20,000 levels before moving into the 2024 bull market. He believes that the king coin could hit a new all-time high in late 2024 or early 2025.

Is Bitcoin mimicking its 2019 pattern?

Prominent cryptocurrency analyst Ali Martinez took to Twitter to point out that Bitcoin was imitating a previous pattern. According to him, the king coin was currently moving in accordance with its May 2019 chart.

Back in May 2019, BTC was trading in the $4K–$5K range. As seen in the tweet, the asset went on an upward trajectory. The analyst believes that BTC could be moving in the same direction. Additionally, at Bitcoin’s current level, an astounding 69% of its holders were pocketing profits. Only 28% were enduring a loss. Nevertheless, the possible upswing could boost the number of holders making money.

Bitcoin Enters “Greed” For the First Time Since March 2022

Howdy — Sat, 28 Jan 2023 02:57:40 +0000

credit – CryptoPotato.com

Cetoex News – Bitcoin (BTC) has made gains of nearly 40% in the first month of 2023. According to the “Fear and Greed” index, BTC has entered the “Greed” phase for the first time since March 2023. At press time, the Fear and Greed score stood at 55, the highest in nearly ten months. In December 2022, the metric scored a mere 28, a sign of “Fear.”

Source: Alternative.me

Moreover, as pointed out by the popular figure PlanB, Bitcoin’s (BTC) realized returns are in the green once again. This means that sellers are making profits instead of cutting losses. The actual gain achieved on an asset’s value over a certain period is called realized return.

Following an almost three-week-long surge, on-chain indicators for Bitcoin (BTC) appear to be improving. Additionally, price levels are once again above several important technical indications. However, it might be too soon to declare a complete bull market turnaround. Nonetheless, we might be getting there shortly.

Bitcoin following the 2019 path?

BTC’s current rally is reminiscent of the asset’s 2019 run. During that year, the Fed loosened its foot on monetary tightening. Consequently, BTC rallied by nearly 250%. Similarly, the Fed is currently easing its policies as inflation gets closer to the Department’s target of 2%. Historically speaking, we could be entering another rally for the original cryptocurrency.

The Fed’s previous monetary tightening lasted three years, beginning in December 2015 and ending in December 2018. The department increased the benchmark borrowing rate of the central bank to a range between 2.25% and 2.5%.

The Fed increased the benchmark borrowing rate from 0% to 4.25% last year. With forward-looking indications showing a pronounced downturn in inflation and economic activity, the market now anticipates it to lower the pace of rate hikes to 25 basis points in February and March and then suspend its rate-hike cycle. The move could lead to a surge in Bitcoin’s price.

At press time, BTC was trading at $22,828.12, down by 1.3% in the last 24 hours.

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Bitcoin journey from $1 to $50000.

Howdy — Sat, 21 Jan 2023 02:56:43 +0000

credit – Pixabay.com

Cetoex News – Bitcoin’s journey so far has been characterized by both ups and downs. In early 2009, the pseudonymous creator of Bitcoin, Satoshi Nakamoto, formulated the genesis block. On Jan. 3 that year, the first batch of 50 BTC was mined into existence.

During its initial days, BTC was viewed as an alienated asset. With time, however, people from the ecosystem started giving the asset a chance with small investments.

Computer scientist Hal Finney was one of the earliest Bitcoin testers who joined hands with Satoshi Nakamoto. In fact, he was also one of the first people who predicted the future price of Bitcoin.

Considering the total worldwide household wealth to be around $100-300 trillion, he projected the value of each coin to eventually hit about $10 million. Evidently, the said price seems to be far from attainment at the moment. However, a basic $1 investment made around that time, in 2009, is now worth $30 million.

Bitcoin’s price milestones

Bitcoin noted its first major jump in price to $0.10 in October 2010. In the following year, the asset’s first mini “bull run” materialized. It rose by roughly 3,000% over the next three months and peaked between $29 and $32 by June. The price, however, couldn’t sustain there. By November of that year, it was down to $2.

In 2013, Bitcoin broke above $100 first, and then $1000. Finally, in November 2017, it clinched the four-digit valuation for the first time by surpassing $10,000. The price kept oscillating dramatically in both directions over the next couple of years and the market witnessed its own share of bull and bear run phases.

At the moment, Bitcoin is trading above its 2017 mid-December peak. Thanks to the gradual uptick noted since the beginning of 2023, BTC has been able to slowly cover up for investor losses. January’s long and green monthly candle signified that bullish momentum was growing. With a 12% incline registered over the past week, BTC was trading at $21k at press time.

Source: TradingView

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Bitcoin Price Dips Following DOJ Announcement and December PPI Reveal

Howdy — Thu, 19 Jan 2023 03:09:04 +0000

Cetoex News – Bitcoin has seen its price take a dip after the U.S. Department of Justice announced its plans to introduce international cryptocurrency enforcement. The world’s most prominent cryptocurrency saw its price hovering around $21,500 this morning but fell to $20,500 after the announcement.

Currently, Bitcoin’s price is sitting at about $20,800, which could indicate the reactionary dip was a small price development. Yet, the price action took place alongside news of better than expected, producer inflation data metrics released earlier today as well.

Source: Pixabay

Bitcoin Experiences Small Price Fall

The year 2022 has been well discussed regarding its infamous price movements. The toll it took on some of of the largest entities in the cryptocurrency sector was felt by many. One of those was Bitcoin, whose price hit a miraculously low $15,000 in the month of November.

The cryptocurrency sphere has seen a redemption to start the year, however, as the price has surged beyond $20,000. Conversely, all eyes are on the price fluctuation as the market attempts to decipher whether or not the price rally is a sign of a market alignment or if something direr could be on the horizon.

With all eyes on the price, many took note of a rather large Bitcoin price dip that occurred earlier today. The cryptocurrency, which had moved above the $21,000 mark, had fallen to $20,000 with many speculating. Two macroeconomic factors could play into the slight dip.

Source: Unsplash

First, the DOJ announced major enforcement action being taken against the cryptocurrency firm, Bitzlato. Prior to the announcement, however, many had anxiously awaited the unclear contents of that press conference being held by Deputy Attorney General, Lisa Monaco. Subsequently, the price had seen a slight fall amidst the impending situation.

Alternatively, Crypto Slate noted a 4% drop amidst the metrics released in the U.S. Producer Price Index (PPI). The numbers were better than expected, as December 2022 showed a PPI of 6.2% year over year, which beat the projection of 6.8%. Additionally, that data is said to be a signal of “easing inflationary pressure, giving scope for the Fed to slow its current pace of interest rate hikes.”

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Bitcoin Addresses Holding 1 Full BTC Hits All-Time High of Over 970,000

Howdy — Sun, 01 Jan 2023 02:08:32 +0000

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Cetioex News – Amidst an increasingly volatile market, Bitcoin Magazine has noted that addresses holding 1 full BTC has hit an all-time high of over 970,000. Smaller wallet addresses within the Bitcoin Ecosystem are continuing to take advantage of a steady decrease in price over the course of the year.

The most well-known cryptocurrency in the world is ending 2022 at levels unseen in two years. Subsequently, starting Q4 down 15%, and down over 60% year to date, the market conditions have seemed to provide a unique opportunity for smaller addresses.

Address with 1 BTC Continues Rise

The rise in Bitcoin addresses holding 1 full BTC has officially hit an all-time high of over 970,000. Yet, that number has been steadily increasing, surpassing the previous all-time high of 950,000 sets just one month ago.

The development adds to the continued narrative starting to gain momentum. Additionally, Bitcoin’s value amongst smaller addresses shows the cryptocurrency is far from dead. Cointelegraph reported Bitcoin podcast host Jake Woodhouse’s words on the development, noting the accumulation of small addresses is one of note.

“To the untrained eye, the price of something reflects the value.” Woodhouse added, “However, the price action should not be confused with value, as the most recent data in the Bitcoin Market represents.”

credit – Pixabay.com

Thereafter, Woodhouse stated that the activity of smaller wallets is based on a perceived, “opportunity to accumulate a wildly under-valued asset,” in the same statement. Conclusively, noting the sentiment that the “Bitcoin is dead,” proclamation is clearly disagreed by ordinary investors.

The rise of small addresses carrying Bitcoin is an interesting development for the industry. Moreover, it shows that there is abundant belief in crypto from average investors taking advantage of the market. Ultimately, the small accumulation of BTC will be an interesting narrative development for the coming year, and the crypto’s price development.

ARTICAL BY – CETOEX NEWS

How will Bitcoin perform in the final weeks of 2022?

Howdy — Thu, 22 Dec 2022 02:09:21 +0000

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Cetoex News – 2022 has been quite turbulent for the crypto market. With bankruptcies, bear markets, and fraudulent projects taking over, the overall morale has been low. With just two more weeks left before the year ends, the community hopes to witness a Christmas miracle. However, recent reports dismissed these expectancies.

According to the founder of Fairlead Strategies LLC, Katie Stockton, Bitcoin could visit its November lows sooner than expected. She added,

“We expect a retest of the November lows, near $15,600, in the coming weeks after a failed test of levels in the $17,000 to $18,000 range. We ultimately expect Bitcoin to make a lower low, increasing risk to long-term support near $13,900.”

This narrative was put forth by JP Morgan a couple of weeks ago. The banking giant noted that BTC entailed the capability of dropping down to $13K.

At press time, Bitcoin was seen trading for $16,825.14 with a dainty surge of 0.37 percent over the last 24 hours. The asset plummeted from a high of $18,318.53 all the way to a low of $16,398.14.

Source

As mentioned earlier, many in the community have been looking forward to Christmas and its effect on Bitcoin. Prominent crypto exchange, Bitfinex believed that trading activity could take a backseat during the holiday season. The platform said,

“As we approach the end of the year many firms and traders take a break, however the slowdown in trading activity brings with it the risk of higher volatility, given the declines in trading volume and liquidity. This is already evident on the lower timeframes, even if the higher timeframe price action appears to be in a range between $16,000 and $18,000.”

Will Bitcoin suffer in 2023 as well?

While Bitcoin’s fate remains unsure, Nansen was drawing a correlation between crypto and U.S. equities. In accordance with expectations, the current rate range is 4.25 percent to 4.50 percent after the FED recently increased interest rates by 50 basis points. The Feds even stated that they expect the rates to increase by a further 75 basis points in the year 2023.

With all of this at play, Nansen hinted at a possible downtrend in 2023 as well.

“Given the Fed’s determination to maintain tightening for longer, our key scenario for 2023 is a US recession and a US equity sell-off. Crypto prices could experience one further [perhaps final] drop in this cycle before interest rates turn more favorable.”

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Is the Crypto Market Over now?

Howdy — Fri, 25 Nov 2022 10:45:54 +0000

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These days there was a huge fall in the crypto market: We saw Btc for the first time at $16000. The question is: Will Btc go down again? If truth be told, According to some experts, at the end of the year btc will drop to $14000.But the question is why this is happening but there is a reason for this decline. FTX And binance.

credit – fortune.com

But why binance and ftx?

binance is the world's largest crypto exchange company or ftx is the world's third largest company.People were surprised when the binance announced to buy the FTX, the thought in the mind of the people was that what is the benefits of buying the FTX to the binance. the main reson of down fall is this then binance think why FTX is selling himself then they 
got to know the US intelligence agency is Investigeting FTX in using customers money illegally. they don't have 8 billion Dollars to give the customers than binance forbede forbid to buy the FTX than customers 
scared and they start withdrawing the money that's why this down fall came
there is no idea when this down fall end.