Stay informed about the latest crypto developments – check out U.Today’s top three news articles from the past 24 hours.
Shiba Inu‘s supercycle: Insider optimism peaks as BTC halving nears
As the crypto community is eagerly anticipating the upcoming Bitcoin halving, Shiba Inu team member Lucie has taken to X platform to share her view on the SHIB price trajectory that could be affected by the market movements of Bitcoin. In her post, Lucie advised her followers to “zoom out” so that they could see the broader market picture and invited to take a look at a chart she attached. The chart demonstrates a trend of bottoming and reaccumulation, which ultimately results in a bull market scenario. This pattern can be seen in the current market cycle, and, per Lucie’s chart, it still has the capacity to carry on. In Lucie’s opinion, crypto prices (including the price of SHIB) are still on track for a supercycle, adding that 2024-2025 will be interesting while tagging BTC and SHIB.
XRP on verge of crazy price pump if John Bollinger’s Bands are right
The XRP price chart is now demonstrating a curious pattern which, if historical trends hold true, could indicate a potential massive increase in value. The indicator one should pay attention to is the Bollinger Bands (it denotes volatility and price range); at the moment, it is experiencing a significant contraction. This phenomenon was once observed in 2017, coinciding with XRP’s price surge by 55,000%. Following this, on Jan. 1, 2018, XRP peaked at $3.317. A similar contraction occurred in October 2020, preceding XRP’s value skyrocketing by 700%; by April 2021, the token reached the $1.96 price mark. At the moment of writing, XRP is changing hands at $0.50. The Bollinger Bands’ continuous tightening, which started in November 2022, supports the possibility of near-term growth in value for XRP.
Bitcoin (BTC) leaving exchanges en masse, what’s happening?
Large crypto exchanges have seen a surge in Bitcoin withdrawals, reaching a new peak since early 2023. This trend has left some investors worried and seeking answers. According to CryptoQuant’s data, these withdrawals are indicative of an accumulation phase for Bitcoin. The recent 10% drop in BTC‘s price appears to have triggered this response. However, current market indicators suggest that the market is calming down, possibly signaling a price rise soon. In their assessment, CryptoQuant attributes the sudden increase in Bitcoin withdrawals to preparations for the upcoming halving event. Historically, such trends are linked to larger holdings and expectations of future price growth. As investors brace for potential market volatility, this surge in withdrawals serves as a signal of shifting market sentiment.
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2024-04-18 19:33