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Crystal Ball Clouded: Experts Offer Conflicting Predictions for Bitcoin’s Price at 2028 Halving
The next Bitcoin halving, estimated to occur in April 2028, is already casting a long shadow. this event, which cuts the number of bitcoins awarded to miners in half, has historically been followed by significant price increases. However, with four years to go, experts are offering a wide range of predictions for where bitcoin’s price might land in 2028. Some analysts are bullish, citing historical trends and growing institutional adoption as reasons for optimism. Swyftx lead analyst Pav Hundal predicts a minimum price increase of 100% by the next halving, placing Bitcoin somewhere around the $120,000 mark. This prediction aligns with the diminishing returns observed in previous halving cycles. “We’ve…
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Bitcoin Bulls Battered as Price Slides Below $69K, Triggering $175 Million Liquidation Bloodbath
Bitcoin bulls got bucked off yesterday as the leading cryptocurrency took a tumble, slipping below the crucial $69,000 mark. This sudden price reversal followed a brief surge above $71,000 on Monday, leaving many optimistic investors in the dust. The fallout was swift and brutal. According to data from CoinGlass, nearly $200 million worth of leveraged positions were liquidated across the crypto market within a 24-hour window. The overwhelming majority of these liquidations, a staggering $175 million, were long positions – bets that the price of Bitcoin would continue to rise. This suggests that many leveraged traders were caught off guard by the unexpected downturn. Analysts are offering mixed interpretations of…
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Crypto Community Shrugs as ETF Enthusiasm Cools, Bitcoin Price Stays Hot
The love affair between traditional finance and cryptocurrencies is hitting a halt. Flows into Bitcoin exchange-traded funds (ETFs), once seen as a major catalyst for mainstream adoption, have slowed significantly in recent weeks. However, defying expectations, Bitcoin itself remains unscathed, continuing its rise and remaining comfortably above the $70,000 mark. This disconnect between the ETF market and the underlying asset has left many crypto traders scratching their heads. The world’s largest Bitcoin ETF, Grayscale’s Bitcoin Investment Trust (GBTC), experienced significant outflows last week, raising concerns about a potential selloff. “We saw a little panic when the news of GBTC outflows came out,” veteran crypto analyst Sarah McGuire admitted. “There were…
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Ethereum Prepares for Liftoff: Developers Unveil Long-Awaited Scalability Upgrade
In a move poised to significantly impact the future of the world’s second-largest blockchain, Ethereum developers have announced plans for a major upgrade aimed at addressing its long-standing scalability issues. Ethereum, the platform powering popular decentralized applications (dApps) and non-fungible tokens (NFTs), has struggled with high transaction fees and slow processing times due to its current network limitations. This has hindered user experience and adoption, especially during periods of high network activity. The upcoming upgrade, dubbed “Dencun” and scheduled for launch in March 2024, introduces a critical feature called “proto-danksharding” (EIP-4844). This technology lays the groundwork for a revolutionary approach called “danksharding,” which aims to significantly increase Ethereum’s transaction processing…
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Altcoin Rollercoaster: Divergent Paths as Bitcoin Stalls
While Bitcoin treads cautiously around the $43,000 mark, the altcoin market presents a picture of contrasting fortunes. Some altcoins are soaring, fueled by specific developments and community enthusiasm, while others struggle to gain traction in the broader market stagnation. Ethereum (ETH), the second-largest cryptocurrency, has seen a modest price increase, likely driven by continued anticipation surrounding its upcoming transition to a Proof-of-Stake consensus mechanism. This upgrade, dubbed “The Merge,” promises increased scalability and energy efficiency, attracting investor interest. Solana (SOL), another prominent smart contract platform, paints a different story. Despite recent network outages and ongoing scalability concerns, SOL exhibits surprising resilience. Some analysts attribute this to the platform’s vibrant developer…