Bitcoin Poised for Historic Breakout: 5 Key Insights This Week

Key Highlights $69,000 Resistance: Key level for BTC this week. US Unemployment Data: Crucial economic indicators coming up. Breakout Potential: BTC set for a historic move. Mining Activity: Miners adjusting to new conditions. Kraken Withdrawal: Significant BTC outflow from Kraken. Bitcoin heads into June strong, with key resistance levels back in focus. Analysts are increasingly confident that BTC is gearing up for a historic breakout. According to news on Coin Telegraph, here's what you need to know this week. $69,000 Forms the Week’s Key Level BTC/USDT 5D price chart | Source: KuCoin Bitcoin saw some volatility over the weekend, but BTC/USD is back above $69,000. Traders see this level as crucial. Popular trader Skew notes that the market needs to sustain above $69,000 for continued upward momentum. Unemployment Data Precedes FOMC Week The week kicks off quietly in terms of macroeconomic data. However, U.S. jobless claims on June 6 and further unemployment numbers the day after could spark volatility. These figures are closely watched, as they influence the Federal Reserve's policy decisions. The next Federal Open Market Committee (FOMC) meeting will provide more clarity on interest rates. BTC Price Preps Breakout from ‘Longest Consolidation Yet’ Bitcoin is aligning with the U.S. M1 money supply, hinting at a significant breakout. Popular analyst TechDev highlights that Bitcoin has historically seen major surges after such alignments. This breakout follows the longest consolidation period in Bitcoin's history, suggesting a uniquely volatile move ahead. Mining Activity and Network Fundamentals Bitcoin’s network fundamentals are recovering after a dip in May. The difficulty level is set to increase by 1.7% on June 6, following a previous 1.5% rise. Despite these improvements, Bitcoin miners are facing tough conditions, selling off BTC post-halving. Miner balances have decreased by 2,500 BTC in the last 30 days. Kraken Sees Giant 48,000 BTC Withdrawal Kraken experienced nearly 50,000 BTC ($3.44 billion) withdrawals on May 30 and 31. This marks one of the largest daily withdrawals from Kraken. Market observers see this as a potential supply shock, suggesting a bullish outlook for BTC. Bitcoin is showing strong potential for a historic breakout. Key resistance levels, upcoming economic data, and significant network activity all point to an exciting week ahead. Keep an eye on these developments as the week progresses.   

0
307
Share
2024-06-06
Robert Kiyosaki Predicts Bitcoin Will Hit $350,000 by August 2024

Robert Kiyosaki, the famous author of "Rich Dad Poor Dad," made headlines with his bold prediction about Bitcoin price. As per a news report on Benzinga, he believes Bitcoin will reach $350,000 by August 2024.   Quick Take  Robert Kiyosaki, renowned author of "Rich Dad Poor Dad," predicts that Bitcoin will hit $350,000 by August 2024. This projection has captured the attention of the crypto community and investors worldwide. Kiyosaki continues to invest heavily in cryptocurrencies, including Bitcoin, Ethereum, and Solana. He believes these assets will see significant value increases. Despite Bitcoin’s bullish trends, experts consider Kiyosaki's prediction unrealistic. Bitcoin has grown by 70% year-to-date, but reaching $350,000 would require a nearly 5X increase from its current price. BTC/USDT price chart | Source: KuCoin TradingView    Kiyosaki's Bold Projection On Wednesday, Kiyosaki took to social media platform X to share his staggering prediction. He stated, "It's a prediction. It's speculation, it's an opinion, but it's not a lie." He expressed confidence that Bitcoin will hit $350,000 sometime in 2024, calling it a target, dream, and wish.   Kiyosaki's Continued Crypto Investment Kiyosaki mentioned he is buying more Bitcoin, Ethereum, and Solana. He believes these cryptocurrencies will continue to soar in value. He also criticized President Joe Biden, Treasury Secretary Yellen, and Fed Chair Powell, dubbing them the "3 Stooges."   "What I am confident of is the incompetence of our leaders, President Biden, Treasury Secretary Yellin, and Fed Chair Powell. Protect your self from the 3- Stooges."   Market Reactions Kiyosaki has a history of making bold predictions. Earlier this year, he predicted Bitcoin would hit $100,000 by June 2024. With Bitcoin's price trajectory, this seems unlikely now. His latest prediction of $350,000 by August 2024 suggests a nearly 5X jump from its current price.   Experts view this forecast as unrealistic. Despite bullish catalysts like spot Bitcoin ETFs, Bitcoin has grown just 70% year-to-date. However, steady growth is expected due to demand from permanent holders and whales, according to Julio Moreno, Head of Research at CryptoQuant.   Kiyosaki's predictions continue to stir the crypto community. While his bold forecasts attract attention, market experts remain cautious. Keep an eye on Bitcoin's performance as these predictions unfold.  

0
313
Share
2024-06-06
Shibarium Explodes with 3,436% Surge in New Accounts: Growth Phase Ahead?

Key Highlights Account Surge: Shibarium sees a 3,436% increase in new accounts within 24 hours. Transaction Boost: Transactions on Shibarium rise by 80%. Potential Growth: Increased activity hints at a new growth phase for Shibarium. Shiba Inu's Layer-2 blockchain platform, Shibarium, saw a massive spike in activity. New accounts surged by 3,436% in just 24 hours. A news report on U.Today reveals a spike in new accounts jumped from 30 to 1,031 overnight.   What Drove the Surge in Shibarium? Spike in daily transactions on Shibarium | Source: ShibariumScan    This increase follows concerns about Shibarium's declining activity. The sudden jump has changed the narrative. Along with new accounts, transaction volume on Shibarium also rose significantly. Transactions grew from 4,751 to 8,527, an 80% increase.   What's Behind the Activity Spike? The rise in activity may be linked to the momentum of SHIB's price, which has risen by almost 5%. Usually, network activity precedes price movements, but Shiba Inu seems to be showing the opposite trend this time.   New Phase of Growth? This spike in user engagement and transaction volume could signal a new growth phase for Shibarium. The coming days will be crucial to see if this trend continues or if it’s just a temporary spike.   Shibarium’s sudden increase in activity is notable. The significant rise in new accounts and transactions suggests growing interest and engagement. Keep an eye on Shibarium to see if this marks the beginning of sustained growth.  

0
314
Share
2024-06-06
Telegram's Pavel Durov Endorses Notcoin: NOT Soars 10%

Key Highlights Price Surge: NOT token jumps 10% after Pavel Durov's endorsement. Record Trading Volume: Notcoin hits $4 billion in daily trading. Community Growth: Notcoin attracts over 35 million users in a few months. NOT/USDT price chart | Source: KuCoin TradingView    According to news on BeInCrypto, Telegram founder Pavel Durov celebrated Notcoin's success, sparking a 10% rise in NOT's price. On June 3, Notcoin's daily trading volume hit a record $4 billion, placing it among the top five traded cryptos. The value of NOT tokens donated to Durov increased from $6 million to nearly $25 million.   Durov's Endorsement Fuels Notcoin Rally Pavel Durov, Telegram's founder, recently praised Notcoin, further boosting its price rally. He shared that the NOT tokens donated by Notcoin’s developers quadrupled in value within two weeks. Initially worth $6.8 million, these assets now approach $25 million.   Notcoin, a Web3 Telegram-based game on The Open Network (TON), operates as a mini-app within Telegram. The project has attracted over 35 million users in a few months. Since launching the NOT token on May 16, its market cap has exceeded $2.5 billion. On June 3, Notcoin's trading volume reached $4 billion, making it one of the top five traded cryptocurrencies. Durov expressed his admiration for Notcoin's rapid growth.   "A month ago, Notcoin was the largest cryptocurrency community in the history of social media. Today, the Notcoin community is rivaled only by projects it inspired — similar mini apps on Telegram that are allowing tens of millions of users to benefit,” Durov wrote.   Earlier, the Notcoin team donated over 1 billion NOT tokens to Durov, valued at $6.8 million. These coins are now worth over $24 million. Durov plans to hold these assets until their value increases a hundredfold.   NOT Price Performance Durov’s latest post triggered a 10% jump in NOT price. According to BeInCrypto data, the asset is trading at $0.024 at the time of writing. Over the past week, the Notcoin price has skyrocketed over 300%. This growth is driven by the launch of staking, support from major exchanges, and plans to burn NOT tokens.   The Notcoin team continues to foster community enthusiasm, contributing to NOT’s rally. Recently, they announced a contest with a prize of 20 million tokens. To participate, users must submit their project vision in any format. The campaign runs until June 24.  

0
319
Share
2024-06-06
KARRAT Jumps 40% on New Partnerships with Palantir and Nvidia

Key Highlights Price Surge: KARRAT jumps 40%, reaching an all-time high. New Partnerships: Collaborations with Palantir and Nvidia boost the token. Increased Trading Volume: Trading volume rises by 600% to $32 million. KARRAT/USDT price spikes | Source: KuCoin    KARRAT, the governance token of the KARRAT protocol, has surged over 40%, hitting an all-time high. According to an update on Crypto.News, the token is now trading at $1.10, marking a 41% increase in the last 24 hours. Trading volume also rose significantly, climbing by 600% to $32 million.   An Introduction to KARRAT Protocol Launched on April 22 by the KARRAT Foundation in Camana Bay, Cayman Islands, the KARRAT Protocol targets the gaming and AI sectors. AMGI Studios, an independent animation and gaming company, supports KARRAT and collaborates with entities like Polygon and Delphi Digital.   Partnership with Palantir KARRAT’s recent surge followed a June 4 announcement of a partnership between AMGI Studios and AI & Big Data powerhouse Palantir. AMGI Studios will use Palantir’s Foundry architecture in its products, enhancing the KARRAT ecosystem.   Collaboration with Nvidia On May 23, AMGI Studios announced a partnership with AI leader Nvidia. This collaboration is expected to further integrate advanced AI technologies into the KARRAT ecosystem.   Market Potential An X user, @CryptoGodJohn, suggested KARRAT could become as influential as SAND and MANA in the gaming coin market, potentially reaching a fully diluted valuation of over $10 billion. KARRAT is already listed on major crypto exchanges like KuCoin, boosting its accessibility and trading potential.   Web3 Game Launch In February, KARRAT Protocol launched its first web3 game, 'My Pet Hooligan,' available in early access on the EPIC Games platform. The game features advanced motion capture technology, AI-driven characters, and real-time face-driven animation, allowing players to embody NFTs in-game using the KARRAT protocol. It won the Best Action Game award at the GAM3S.GG Awards in December 2023.   KARRAT’s partnerships with Palantir and Nvidia, along with its strong market performance and innovative gaming ventures, position it for continued growth. Keep an eye on this promising token as it gains traction in the gaming and AI sectors of the crypto market.  

1
478
Share
2024-06-05
Top Analyst Reveals 5 Promising Altcoins Poised for Growth

Key Highlights Analyst Michaël van de Poppe recommends five promising altcoins. He recommends watching Optimism, Arbitrum, Woo Network, Wormhole, and Dogecoin. Each altcoin has unique factors contributing to its potential success. Michaël van de Poppe Recommends Five Altcoins After Ethereum exchange-traded funds (ETFs) gained approval, top analyst Michaël van de Poppe shared insights on five altcoins in a post on COINTURK News. His comments increased interest in the Ethereum ecosystem and created expectations for an altcoin surge. So, which altcoins are on van de Poppe's list, and why?   Optimism (OP) OP/USDT price chart | Source: KuCoin TradingView    “I think a coin like Optimism could see a 300% to 800% increase in BTC value within the next six months. I believe this is very likely and probably the first round.”    Optimism tops van de Poppe’s list. It's an Ethereum Layer-2 scaling solution. He highlights its notable total value locked (TVL) ratio and low circulating supply. Van de Poppe believes Optimism could see a 300% to 800% increase in BTC value within six months.   Arbitrum (ARB)   “If you look at Arbitrum’s TVL, you’ll see it’s almost the same amount as its market cap. So, as the ecosystem grows, this is a super bullish sign. However, when we look at the price action, we see that it’s trash.”    Arbitrum, another Layer-2 solution, is next on the list. Despite struggling with its price since February, its strong ecosystem development and TVL make it a solid investment. Van de Poppe sees significant recovery potential for ARB. Woo Network (WOO) WOO/USDT price chart | Source: KuCoin TradingView    “When Ethereum starts doing well and volumes are already waking up, WOO comes into play. Also, revenue is generated, so I think it’s a great thing to have. I think when the entire cycle starts for WOO, it could actually provide returns between 500% and 1,500%.”    Woo Network\, a decentralized exchange with high liquidity and low transaction fees, is a surprise addition. Van de Poppe expects WOO to benefit as Ethereum gains traction. He predicts WOO could provide returns between 500% and 1,500%.   Wormhole (W) W/USDT price chart | Source: KuCoin TradingView    “I want to bet on secure Solana (SOL) solutions. The only tricky part about Wormhole is that the locks are still open, but it will take some time for these locks to be released, so I think it will do really well.”    Wormhole, a bridge for cross-chain interoperability, ranks fourth. Its role in the growing DeFi environment is crucial. Despite some concerns about lock releases, van de Poppe is optimistic about Wormhole's future performance.   Dogecoin (DOGE) DOGE/USDT price chart | Source: KuCoin TradingView    “Like it or not, you see all meme coins doing well. Floki, Book of Meme, Bonk. All these meme coins are doing well. When you want to position yourself in Dogecoin, now is the time. It’s the easiest. It will do 4x to 5x or maybe even more.”   Lastly, van de Poppe chose Dogecoin, the leader in the memecoin market. He points to its price volatility and strong community support. Van de Poppe believes DOGE could provide significant gains during a market uptrend, predicting it could do 4x to 5x or even more.   Each altcoin has unique factors contributing to its potential success, making it worth watching in the coming months.  

5
319
Share
2024-06-05
Toncoin Hits New ATH: Will the Rally Continue or Cool Down?

Key Highlights ATH Reached: Toncoin (TON) hits a new all-time high (ATH) of $7.78. Whale Activity: Large transactions surge by 237%, boosting buying pressure. Technical Indicators: Strong buy signals, but RSI nearing overbought zone. Toncoin has hit a new milestone, setting an all-time high (ATH) of $7.78. After months of shallow recoveries, the bulls have taken over, driving the price up. Will TON continue to rise, or will we see a decline? This article from CoinGape discusses the TON price analysis.    What Pushed the TON Price to New ATH? TON/USDT price chart | Source: KuCoin TradingView   Toncoin has shown strong momentum this year, jumping from $2.2 to $7.78 in six months. This 3X gain has made TON a favorite among investors, surpassing Shiba Inu in the top ten cryptocurrencies. The increased demand and bullish market sentiment have supported this rally.   Crypto analyst Ali noted a significant increase in whale activity. Transactions over $100,000 surged by 237% on June 3, 2024. This accumulation by whales has increased buying pressure.   The number of large #Toncoin transactions (over $100,000) has surged by 237.5% in the past 24 hours! This significant increase in $TON whale activity suggests a strategic shift in their investments and positions. pic.twitter.com/iEHWFgxcp1 — Ali (@ali_charts) June 3, 2024   What's Next for TON Price? The TON price is currently 5% below its ATH, but the bullish trend remains strong. Technical analysis shows Toncoin is in the strong buy zone, with indicators like the Moving Average Convergence Divergence (MACD) and momentum indicators supporting further gains.   However, the Relative Strength Index (RSI) is at 68, close to the overbought zone. If the RSI goes above 70, we might see a price reversal. Despite this, investor sentiment remains high, and TON could reach $7.85 in the coming days.   Toncoin has had a remarkable run, but caution is advised as technical indicators suggest potential volatility ahead. Keep an eye on RSI levels and whale activity for clues on the next move.  

1
287
Share
2024-06-05
Top Gaming Token Airdrops to Watch

Key Highlights Hamster Kombat: New Telegram game launching a token on The Open Network (TON). Immutable zkEVM: Offering $50M in token rewards. Saga Protocol: $10M in SAGA token airdrops for stakers. Illuvium: Open beta with $25M airdrop campaign. Nifty Island: Play-to-airdrop campaign for ISLAND tokens. Crypto Unicorns: Airdrop campaign during migration to Arbitrum's layer-3 Xai. MetalCore: Mech shooter game offering MCG token airdrop. Delabs Games: "Ladybug's Journey" campaign offering GAME tokens. Pirate Nation: BOOTY reward points system for future rewards. BloodLoop: 5v5 hero shooter launching BLS token. AI Arena: Super Smash Bros-style game with NRN token airdrop campaign. Airdrop season is back, and it's bigger than ever. As crypto projects seize the moment to drop their tokens, gamers stand to gain the most. From blockchain networks to gaming-specific tokens, exciting airdrops are on the horizon. According to Decrypt, here's a rundown of the most anticipated gaming token airdrops you shouldn't miss.  Hamster Kombat Hamster Kombat, a Telegram-based game, is set to launch a token on The Open Network (TON). The game, featuring a hamster CEO running a crypto exchange, has already attracted over 60 million users. Now's the time to rack up in-game coins before the token launch. Immutable zkEVM Immutable's "The Main Quest" rewards campaign offers up to $50 million in token rewards. Players can earn tokens by engaging with games like Guild of Guardians and MetalCore, trading NFTs, and using Immutable zkEVM decentralized exchanges. Saga Protocol Saga is rolling out $10 million in SAGA token airdrops for stakers. This follows the mainnet launch and includes partnerships with projects across Ethereum, Solana, and Avalanche. Illuvium Illuvium's open beta includes a $25 million airdrop campaign. Players earn reward points during the beta, boosting adoption of this highly anticipated crypto gaming franchise. Nifty Island Nifty Island's play-to-airdrop campaign offers ISLAND tokens. Players earn points through gameplay, referrals, and owning specific NFTs. Crypto Unicorns Crypto Unicorns is moving to Arbitrum's layer-3 Xai network. This migration includes a play-to-airdrop campaign, rewarding players with tokens. MetalCore MetalCore, a mech shooter on Immutable zkEVM, offers "marks" to closed beta players. These points will translate into an MCG token airdrop. Delabs Games Delabs Games launched the "Ladybug's Journey" campaign. Players earn GAME tokens by playing games and completing social media missions. Pirate Nation Pirate Nation's BOOTY reward points system ties rewards to gameplay and social interactions. These points may lead to future rewards. BloodLoop BloodLoop, a 5v5 hero shooter, launches its BLS token on June 10. The play-to-airdrop campaign will reward players based on in-game performance. AI Arena AI Arena's recent play-to-airdrop campaign offered 40 million NRN tokens. Another 40 million tokens will be available in future prize boxes.  

1
423
Share
2024-06-05
Top Analyst Reveals 3 Altcoins to Watch in Altcoin Season

Key Highlights Top Analyst Picks: Dan Gambardello's top three altcoins for the upcoming bull run. Cardano (ADA): Strong fundamentals and community-driven governance. Avalanche (AVAX): Positive narratives and potential institutional interest. DOG: The largest memecoin on the Bitcoin blockchain with high potential. Investors are keen to find top coins with substantial return potential as the crypto market gears up for the altcoin season. In a news article on Watcher Guru, crypto analyst Dan Gambardello recently shared his top three altcoin picks for the upcoming bull run: Cardano (ADA), Avalanche (AVAX), and DOG.   Cardano (ADA) Gambardello’s first pick is Cardano, a top 10 cryptocurrency with strong fundamentals. He highlights Cardano's upcoming Voltaire upgrade, which will establish the largest on-chain governance system, fully run by the community. This demonstrates true decentralization. Gambardello also points out Cardano’s scaling potential and robust security. Despite often lagging in price, he believes Cardano will surge unexpectedly, similar to its past performance.   Avalanche (AVAX) Avalanche is Gambardello’s second pick. He believes AVAX has compelling narratives that could lead to significant gains. The ‘reinventing subnets’ proposal and potential institutional interest are key factors. John Wu, President of Ava Labs, has expressed optimism about an AVAX ETF. Gambardello sees this as a positive sign, indicating that Avalanche has the momentum for a strong bull market.   DOG The third pick, DOG, may surprise some, but Gambardello is confident in its potential. As a memecoin on the Bitcoin blockchain, DOG benefits from over $1 trillion in liquidity. Despite its current market cap of around $750 million and no tier 1 exchange listings, Gambardello compares DOG to the past performances of DOGE and Shiba. He believes DOG could be a top performer this cycle due to its fair distribution and strong community. Gambardello sees DOG as a high-risk, high-reward play.   Gambardello’s picks are based on careful study and consideration. He believes Cardano, Avalanche, and DOG have the potential to shock the market with their performance. Keep an eye on these altcoins as the market heads into altseason.

0
337
Share
2024-06-05
Bitcoin Set for $500K Surge: Expert Predicts Major Upswing in 18 Months

Key Highlights  Bitcoin recently reached a crucial price level of $70,000. After a previous correction to $56,500, BTC rebounded to $69,100. Chamath Palihapitiya forecasts Bitcoin could reach $500,000 by October 2025. Significant price increases typically occur within 6-18 months post-Halving. Bitcoin could become a primary store of value and transactional utility. Adoption as a dual-currency asset may drive demand for BTC. According to a news report on News BTC, Bitcoin (BTC) recently hit the crucial $70,000 level after several sessions of range-bound trading. This has been a significant hurdle for its price consolidation. Despite reaching a new all-time high (ATH) of $73,700 in March, BTC saw a 20% correction to around $56,500 in early May. However, this correction triggered renewed bullish momentum, with BTC now trading at approximately $69,100.   Chamath Palihapitiya, a venture capitalist and market expert, remains optimistic about Bitcoin's future. In a recent episode of the All In Podcast, Palihapitiya discussed BTC’s historical patterns concerning the Halving event, which occurs every four years and reduces the block reward for miners.   Palihapitiya noted that after a halving, investors usually spend the first three months reassessing the price and market situation. Historically, significant price appreciation occurs within six to 18 months.   Bitcoin Price and Halving Analysis BTC’s price prediction for the next 18 months after The Halving. Source. All In Podcast, Chamath Palihapatiya   The first Bitcoin halving on November 28, 2012, reduced the block reward from 50 BTC to 25 BTC. Bitcoin was priced at $13 then and peaked at $1,152 within a year. The second halving on July 16, 2016, reduced the block reward to 12.5 BTC. Bitcoin’s price at that time was $664, and it peaked at $17,760 within a year. The third halving on May 11, 2020, reduced the block reward to 6.25 BTC. Bitcoin was priced at $9,734, and within a year, it reached an ATH of $69,000.   Palihapitiya suggests that if Bitcoin follows its past performance, it could skyrocket to around $500,000 by October 2025.   He believes Bitcoin could replace gold and serve as a transactional utility for hard assets. This potential, combined with concerns about fiat currency debasement, presents intriguing opportunities for Bitcoin.   Increased Demand for BTC? Palihapitiya argues that as more countries adopt a dual-currency approach, recognizing Bitcoin alongside their local currency, the demand for BTC will increase. This shift will occur as people see the need for Bitcoin in daily transactions and as a store of value for permanent assets.   Overall, Palihapitiya’s analysis of Bitcoin’s historical patterns following the halving events provides an optimistic outlook. The potential for Bitcoin to reach $500,000 by October 2025 and its growing recognition as a dual-currency asset alongside fiat currencies offers renewed prospects for investors and the broader cryptocurrency market.  

1
309
Share
2024-06-05