As a seasoned researcher with years of experience tracking the crypto market, I must say these headlines have piqued my interest once again. The Bitcoin prediction by Ali Martinez, if correct, could signal a significant shift in the market dynamics – something I’ve witnessed numerous times before but never gets old. If BTC indeed plunges to $40,600, it might just remind us all of those good ol’ days when a single Bitcoin was still affordable!
Here are the top three news stories over the past day presented to you by U.Today.
Bitcoin (BTC) to hit $40,600 in historic price crash
As a crypto investor myself, I’ve been paying close attention to the recent warning issued by on-chain analyst Ali Martinez. In his latest post on September 4th, he shared a two-month chart for Bitcoin, highlighting that the TD Sequential indicator suggests a sell signal, indicating a potential correction might be on the horizon. If Bitcoin were to drop below the crucial support level of $51,000, it could plummet down to around $40,600, according to Martinez’s analysis.
XRP might start forming “death cross” signal
It appears that XRP may be moving towards a bearish pattern known as a death cross, where its 50-day moving average falls below the 200-day moving average. This pattern often signifies a potential trend reversal, possibly causing increased selling pressure. Right now, XRP is trading around $0.52, but it’s finding it difficult to maintain these levels without positive momentum. If it fails to recover, there could be a drop to $0.50 or even lower prices. With current market conditions and ongoing regulatory issues, traders are growing more cautious, which might lead to additional sell-offs. In summary, the technical indicators suggest a possible sharp downturn if XRP breaches crucial support levels.
Shiba Inu (SHIB) introduces new portal to empower developers
In a recent article on X, Lucie – a key figure in the SHIB community and the marketing lead for Shiba Inu – discussed the ShibDev Portal, a crucial tool for developers looking to create on Shibarium. As described in the piece, this portal provides various tools for developers, making it simpler to construct decentralized applications (dApps). Key aspects of the ShibDev Portal include a unified dashboard, API key management, access to nodes, on-chain data access, and a test token dispenser. This resource proves useful for both expert and novice developers within the SHIB community due to its comprehensive documentation as a guide. Moreover, the ShibDev Portal caters to numerous use cases such as DeFi, NFTs, gaming, social networks, virtual worlds, DAOs, and identity verification.
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2024-09-06 19:24