Patrick Young

📊 New ETHUSDT Technical Analysis: Bearish trends and resistance levels in focus. Read on for potential entry and exit points to navigate the current market conditions effectively. #Ethereum #CryptoTrading #TechnicalAnalysis https://lnkd.in/dSd3TzUH

Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets https://ift.tt/7Pfc9jW Crypto analyst Egrag Crypto has singled out VeChain (VET) and XRP as two crypto tokens that could soon witness significant price surges. The analyst also outlined price targets crypto investors can expect these tokens to attain. VeChain Could Rise To As High As $2.5 From the chart Egrag shared in his X (formerly Twitter) post, one could see that he was hinting that VeChain hit $2.5 at its market peak. He also elaborated on how the crypto token will rise to that level by breaking its price action into three targets. The first target was the yellow channel, which he highlighted on the chart.  Source: X VeChain is expected to rise to as high as $0.18 when this target is fully achieved. Egrag noted that this will mark the “forging of the MACRO-Bottom.” The second target will see the crypto token rise to almost $0.9. The analyst pointed out that this channel “aligns with the Fib 0.702 & 0.786 levels,” forming what he referred to as the “Mid-Bull-Cycle.” VeChain is expected to rise to as high as $2.5 when the last target is achieved. Egrag remarked that this target aligns with “key Fib levels 1.236, 1.414, & 1.618, suggesting the potential cycle top for #VET.” This isn’t the first time the crypto analyst has laid a bullish narrative for the VeChain token.  In February, he predicted that the crypto token could witness a 140x price increase if it repeats its price action from around 2021 when it rose by 14.638%.  XRP Run To $1.4 Still In Play Egrag provided his bullish analysis of XRP in a separate X post. He stated that the crypto token’s double formation was giving a “strong bullish signal.” He added that he is confident that the “thrust will soon.” This recent analysis was an update to a previous one where he predicted that XRP would rise to $1.4 soon enough.  Source: X  Back then, he was also confident that this move to the upside was imminent, noting that the bulls had accumulated all the XRP tokens that the bears had dumped. He urged XRP holders to “stay steady” in anticipation of the life-changing opportunities that may arise due to the crypto token’s parabolic surge.  Egrag has remained bullish on the XRP token despite its unimpressive price action. He has predicted at different times that the crypto token could rise to as high as $27 at its market top.  At the time of writing, XRP is trading at around $0.54, up in the last 24 hours, according to data from CoinMarketCap. VET price at $0.04 | Source: VETUSDT on Tradingview.com Featured image from Watcher Guru, chart from Tradingview.com Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at yo...

The Norwegian government has enacted a new law aimed at reining in the burgeoning industry of crypto mining. The law, disclosed in a report by local news outlet VG on Monday, signals Norway’s resolve to regulate and potentially shutter cryptocurrency mining operations within its borders. This development comes amidst growing concerns over the environmental impact of crypto mining and the need to align national policies with global climate objectives. Environmental Concerns Prompt Regulatory Action The newly passed law specifically targets data centers, which have been instrumental in facilitating cryptocurrency mining activities. Norwegian digitalization minister Karianne Tung and energy minister Terje Aasland emphasized that the legislation is a response to the significant greenhouse gas emissions associated with the sector. Aasland stated unequivocally: “This is a type of business we do not want in Norway.” The move underscores Norway’s commitment to reducing its carbon footprint and transitioning towards more sustainable energy practices. With its abundance of hydropower, Norway has been an attractive destination for Bitcoin miners seeking low-cost electricity. However, the environmental impact of such operations has raised concerns among policymakers, prompting the introduction of regulatory measures to address these issues. Minister Tung emphasised the government’s commitment to responsible digitalization: “The purpose is to regulate the industry in such a way that we can close the door on the projects we do not want.” Crypto Mining Hub Faces Uncertain Future Norway’s emergence as a prominent Bitcoin mining hub in the West has been fueled by its favorable energy landscape. Bitcoin mining analyst Jaran Mellerud highlighted the significance of Norway’s “stranded hydropower” in attracting some of the world’s leading mining operators, including Bitfury, Bitdeer, and Bitzero. However, the government’s stance against Bitcoin mining could spell uncertainty for the future of the industry in the country. The timing of this regulatory move, just days before Bitcoin’s highly anticipated halving event, adds another layer of complexity to the situation. The halving event, which occurs approximately every four years and reduces the reward for Bitcoin miners by half, has historically had a profound impact on the cryptocurrency market. With Norway’s crackdown on mining operations, the event could potentially exacerbate challenges faced by miners operating in the region. Global Ripple Effects Norway’s decision to regulate cryptocurrency mining comes amidst a broader trend of governments worldwide scrutinizing the industry’s environmental and regulatory implications. Russia, for instance, has also been exploring regulations targeting Bitcoin mining, with a particular focus on its environmental impact. As governments increasingly prioritize sustainability and environmental stewardship, the days of unchecked

Our latest technical analysis on XRPUSDT highlights critical support and resistance levels amid prevailing bearish trends. Discover potential trading strategies and stay ahead with Ecoinimist. #XRP #Cryptocurrency #TechnicalAnalysis #Ecoinimist https://lnkd.in/dmBj2RMH

Analyst Foresees Peak In Late 2025 https://ift.tt/txmrBpC Following the fourth Bitcoin Halving, Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months. Bitcoin Could Mirror Past Halving Cycle According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 2015–2017 cycle. Meanwhile, after the event in the 2019-2021 bull cycle, the digital asset topped out within 546 days. This suggests that the event has always catalyzed massive growth for the leading cryptocurrency asset. Should the past trend hold, the next bull market top might happen between 518 and 546 days following the recently concluded fourth Halving, particularly around the middle of September or middle of October in 2025, according to Rekt Capital. The analyst noted that in this cycle Bitcoin is accelerating by about 220 days currently. Thus, the longer time BTC consolidates after this Halving, it will be better for resynchronizing this current cycle with the previous events cycle. BTC to peak within mid-September and mid-October of 2025 | Source: Rekt Capital on X Rekt Capital also noted that Bitcoin has experienced further declines in the three weeks after the Halving, according to historical data from 2016. He has labeled the period as the Post-Halving “Danger Zone,” this is where there is a chance of downside volatility at the range low of the Re-accumulation Range. In 2016, approximately 21 days after the occurrence, Bitcoin saw a lengthy -11% decline before gaining momentum toward the upside. However, data for 2016 indicates that if there will be downside volatility in this cycle around the Re-Accumulation Range Low, it may happen during the following 15 days. Although the post-Halving danger zone ends in 15 days, the 2016 data indicates that there may be some negative volatility in the interim, possibly reaching the $60,600 Range Low. Parabolic Phase For BTC It is worth noting that Rekt Capital anticipates a parabolic phase after the re-accumulation phase is concluded. During this stage, Bitcoin usually sees massive growth leading all the way up to a new all-time high. In the previous Halvings, Bitcoin would historically consolidate in this Re-Accumulation Range for up to 150 days before ultimately entering a parabolic phase. Once BTC breaks out of this re-accumulation stage, Rekt Capital expects BTC to see a parabolic upside by September this year if it consolidates within the aforementioned timeframe. At the time of writing, BTC was down by over 5% in the past 7 days and was trading at $62,504. Presently, its market cap is down by 1.53%, while its trading volume has increased by over 2...

GBPUSD. M5. Today we have a SNOW level for settlement below the current price level. The range is not large, but it is worth watching to check the repeatability of this setup on this currency pair. 1.27104 https://buff.ly/49tn6WJ

85% Of Altcoins In “Opportunity Zone,” Santiment Reveals https://ift.tt/vV4OFoH The on-chain analytics firm Santiment has revealed that over 85% of all altcoins in the sector are currently in the historical “opportunity zone.” MVRV Would Suggest Most Altcoins Are Ready For A Bounce In a new post on X, Santiment discussed how the altcoin market looks based on their MVRV ratio model. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that compares the market cap of Bitcoin against its realized cap. The market cap here is the usual total valuation of the asset’s circulating supply based on the current spot price. At the same time, the latter is an on-chain capitalization model that calculates the asset’s value by assuming the “true” value of any coin in circulation is the last price at which it is transferred on the blockchain. Given that the last transaction of any coin would have likely been the last time it changed hands, the price at its time would act as its current cost basis. As such, the realized cap essentially sums up the cost basis of every token in the circulating supply. Therefore, one way to view the model is as a measure of the total amount of capital the investors have put into the asset. In contrast, the market cap measures the value holders are carrying. Since the MVRV ratio compares these two models, its value can tell whether Bitcoin investors hold more or less than their total initial investment. Historically, when investors have been in high profits, tops have become probable to form, as the risk of profit-taking can spike in such periods. On the other hand, a dominance of losses could lead to bottom formations as selling pressure runs out in the market. Based on these facts, Santiment has defined an “opportunity” and “danger” zone model for altcoins. The chart below shows how the market currently looks from the perspective of this MVRV model. The data for the MVRV divergence for the various altcoins | Source: Santiment on X Under this model, when the MVRV divergence for any asset on some timeframe is higher than 1, the coin is considered to be inside the bullish opportunity zone. Similarly, if it is less than -1, it suggests it’s in the bearish danger zone. The chart shows that MVRV divergence for a large part of the market is in the opportunity zone right now. As the analytics firm explains, Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over 1-month, 3-month, and 6-month cycles. Thus, if the model is to go by, now may be the time to go around altcoin shopping. ETH Price Ethereum, the largest among the altcoins, has observed a 3% surge over the past week, which has taken its price to $3,150. Looks like the price of the asset has gone up over the last few days | Source: ETHUSD on TradingView Featured image from Shutterstock.com, Santiment.net, chart from TradingV...

"DIGITAL TIME WILL TELL ON BRITCOIN" Dateline: Edinburgh ~ By Bill Magee The UK appears to be following the USA's "ca canny" lead by being in no tremendous rush to start the process towards introducing a digital currency, in Britain's case labelled the "Britcoin". The delay brings new pressure on the West - including Continental Europe - to more carefully weigh up timing of any crypto money rollout impact. It is also in stark contrast to sanctioned countries including China, Russia and Iran, busy talking to each other as they accelerate respective cyber cash moves. Bank of England launched Spring 2023 what has become a lengthy consultation. In January of this year the FT claimed a digital pound sterling required a "bolder vision". Ultimately it would require Parliament's approval, with all the potential political ramifications and fudges making any eventual outcome anything but a certainty. Across the Pond, CNN recently claimed: "People do not need to worry about a (US) Central Bank digital currency (CBDC)," adding: "Nothing like that is remotely close to happening anytime soon." One senior Scottish global finance executive, who asked not to be named, stated: "Britcoin seems like a Brexit offshoot, if not a political gimmick. "An unnecessary disruption with extra layers of financial complexity, disruptive admin and red tape firms just do not need at this time." The International Monetary Fund (IMF) has warned of threats to commercial confidentiality from a badly-introduced CBDC. Where privacy-invasive default settings and deceptive interfaces take an unwitting organisation into unforseen and costly areas online. Washington DC-based non-partisan think tank, Cato Institute claims CBDC undermines the foundation and future of financial markets by a "reducing credit availability, disintermediating banks, and challenging the rise of cryptocurrency." Anxieties are further heightened following an apparent speed-up of developments beyond the West's control. China is in an advanced state of developing a pilot digital yuan, and Russia will perform first cross-border payments using a digital ruble in the second half of 2025, linking up with Iran connecting respective digital currency systems. At the last count 134 countries and currency unions are exploring systems. Early adopter El Salvador was copied by Central African Republic, followed by the Bahamas, Jamaica and Nigeria. However, the Eastern Carribbean Currency Union of eight countries halted availability of "DCash" due to technical issues. Back in Britain, when asked about a digital pound timing the newly-elected UK Government's HM Treasury said a decision would be made in due course. Then referring me to the BoE with the bank approached - more than once - for a response. A snag remains how a single Britcoin can be squared with unregulated digital currencies equalling the equivalent of tens of thousands of pnds stg/dollars but rise and fall at an alarming rate in a mere 24 hours...

Bitcoin Miner & HODLer Selling Pressure Drying Up, Data Says https://ift.tt/UwbNXSz On-chain data suggests the selling pressure from the Bitcoin miners and HODLers has been drying up, a sign that could be positive for the asset. Bitcoin LTHs Stop Selling, While Miner Distribution Slows Down As explained by analyst James Van Straten in a post on X, two BTC groups in particular have been a source of major sell-side pressure in the market recently: the long-term holders (LTHs) and miners. The LTHs refer to the investors who have been holding their coins since more than 155 days ago. These holders are considered the resolute side of the sector, as they rarely sell regardless of whatever is going on in the wider market. The rally to the new all-time high this year, however, managed to entice even these HODLers into selling their coins and harvesting the profits that they had earned over their long holding time. According to Straten, though, the selloff from these investors has petered out recently. “LTHs have been relatively flat for the past few weeks, as BTC ranges, which is a good sign that profit-taking is subsiding,” notes the analyst. Unlike the LTHs, however, the miners, which represent the other major source of selling pressure in the market, have still continued to distribute recently. Nonetheless, as the chart below would suggest, the selling from these chain validators has at least been going down in scale. The value of the metric seems to have been becoming less negative in recent days | Source: @jvs_btc on X The graph shows the data for the monthly balance change for the miners as a whole. This cohort had turned into a seller back in November and had kept up the selling at a more or less consistent rate over the next few months, as the monthly balance change had maintained around the same notable red values. Recently, however, the metric has been trending up and although it’s still negative, the latest value has been about the lowest since the selloff began, as the miners sold just 1,300 BTC over the past 30 days. The analyst suggests that this group could even turn into a net accumulator soon, as “the halving forces miners to become more efficient. Weak miners purged, less selling into the market.” The halving here naturally refers to the periodic event on the BTC network where block rewards are permanently slashed in half. The block rewards are what miners receive for solving blocks on the network and serve as the main component of their revenue, so these events have significant consequences for this group. Halvings occur approximately every four years and the latest one took place just a few days back. With selling pressure from these two cohorts, who had been actively distributing recently, now drying up, Bitcoin perhaps may finally be able to regain its bullish push from earlier, at least to some degree. BTC Price Bitcoin has been making some recovery from its recent lows, but the overall picture is that the...

A group of Swiss Bitcoin advocates led by Yves Bennaïm has initiated a referendum to amend the Swiss constitution in a way that would mandate the Swiss National Bank (SNB) to include BTC alongside gold in its currency reserves, as reported by local media. The proposed amendment to the Swiss constitution is succinct yet significant. It seeks to modify the clause that currently mandates the SNB to “build up sufficient currency reserves from its earnings; part of these reserves shall be held in gold,” to now include “and Bitcoin.” This change, though minimal in wording, could usher a substantial shift in the fiscal management of the nation. Will The Swiss Central Bank (Have To) Adopt Bitcoin? Yves Bennaïm, a figure deeply ingrained in the Swiss crypto scene and a board member of the Bitcoin Association Switzerland, articulated that the initiative is not just about altering the reserve assets but is a strategic move to “protect our sovereignty and neutrality” in an uncertain global economy. According to Bennaïm, the aim is also to “initiate a debate” on the future financial direction of Switzerland. Support comes from within the industry, notably from Luzius Meisser, President of the asset management division at Bitcoin Suisse. Meisser, who is set to present his case at the SNB’s Annual General Meeting this Friday, April 26 at 10 am CET, stated, “Bitcoin is more robust in the long term than euro and dollar investments, which are susceptible to inflationary pressures that could devalue the SNB’s investments.” He also noted that Bitcoin could serve as a declaration of Switzerland’s financial independence from major central banks like the European Central Bank. The initiative has garnered attention from various sectors of the finance world. Leon Curti, Head of Research at Digital Asset Solutions, remarked on the evolving status of Bitcoin in global markets, noting that its classification as a commodity by the US Securities and Exchange Commission “is a legitimization that could ease the SNB’s transition towards including it in its reserves.” From an academic perspective, Professor Gunther Schnabl, who leads the Institute for Economic Policy at the University of Leipzig and has previously advised the European Central Bank, supports the notion. Schnabl highlighted the precarious state of traditional reserve assets, stating, “Government debt has risen sharply in most industrialized countries, meaning that the risk of default has increased.” He advocates for Bitcoin as a viable tool for risk diversification within the SNB’s foreign currency reserves. However, not all feedback is positive. Critics point to Bitcoin’s historic volatility and the regulatory uncertainties that still surround digital currencies. They argue that such characteristics might not align with the traditionally conservative strategies employed by national central banks. Swiss National Bank Could Be $32.9 Billion Richer Two years ago, Thomas

TAO's price movement faces resistance as bearish signals become more prominent. With both the MACD and EMA indicating potential shifts, traders should keep an eye on key support levels for potential long or short trades. Check out our full technical analysis for strategic insights. #Cryptocurrency #TAO #TechnicalAnalysis #MarketTrends #TradingStrategy https://lnkd.in/d_9jgpVP