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Bitcoin Must Hold $32K Support to Prevent Bears from Taking Over: Analyst
Bitcoin’s Rise to $100K: Analyst DonAlt predicts Bitcoin could reach $100,000, influenced by the 2024 BTC Halving, with potential highs up to $110,000 by 2025-2026 following a 150% rise this year.
Short-Term Volatility Concerns: DonAlt cautions about short-term risks, emphasizing the importance of Bitcoin staying above $32,000 to avoid a bearish trend.
On-Chain Metrics Analysis: Recent increases in Bitcoin exchange netflow suggest possible selling pressure, while a decrease in open interest indicates lower upcoming volatility.Here is When Bitcoin (BTC) Might Reach the $100K Level
Bitcoin’s rally has been more than evident this year, with its price rising approximately 150% since January 1. The impressive performance has given numerous experts and analysts the opportunity to predict whether the asset has a chance of skyrocketing to the coveted mark of $100,000.
One person who believes such a scenario could be in the cards is DonAlt, who stands behind the popular YouTube channel Technical Roundup. He said the upcoming BTC Halving (scheduled for April 2024) could act as a catalyst and propel a price jump of over $100K:On the other hand, the analyst warned about the risks in the short term, arguing that BTC’s valuation could plunge in the near future and experience rapid price swings.Taking a Closer Look at BTC On-Chain Metrics
DonAlt is not the analyst envisioning BTC’s price going up through the roof after the halving next year. However, it is worth observing the current condition of the leading digital asset and its potential trajectory in the short term.
According to data presented by CryptoQuant, Bitcoin exchange netflow has charted some massive green candles in the past week. Shifting from self-custody methods to exchanges could be considered a bearish event as it increases the immediate selling pressure.
In addition, Bitcoin’s open interest has been on a downfall lately, suggesting the asset could experience less volatility in the near future.#ContentStar##HotTopicDiscussion##GateLive##ContentMining##HotColumn##Gate post Highlights# Here’s How This Trader Turned $226K to $1.69M in 5 Days With Dogwifcoin (WIF)
A crypto trader has raked in more than $1.4 million in profit within five days by purchasing millions of Dogwifhat (WIF) tokens, a dog-themed meme coin on the Solana network.
According to a tweet by blockchain analysis platform Lookonchain, the trader began their WIF journey by purchasing $226,000 worth of the tokens after they were launched on Solana.$226K to $1.69M in Five Days
Between December 13 and 15, the trader purchased more than 19.86 million WIF at an average price of $0.01137. At the asset’s current price of $0.1078, the stash is worth over $1.69 million, raking in approximately $1.47 million in profit within five days.
WIF has witnessed a significant surge since its release on the Solana network. Within the past week, the token has soared by more than 840%, raising its market cap to tens of millions of dollars.The token’s surge comes as the Solana network is abuzz with a new wave of interest in other cryptocurrencies, including meme coins like Bonk (BONK) and the Solana Saga phones. BONK, another dog-themed token, has also witnessed a mind-blowing surge. Since its launch, the meme coin has soared more than 17,500%, per data from CoinMarketCap.
Two weeks ago, BONK rose to become one of the largest meme coins by market capitalization, alongside other dog-themed tokens like Shiba Inu and Dogecoin.#ContentStar##HotTopicDiscussion##ContentMining##Gate post Highlights##HotColumn##GateLive# Google's latest update aims to allow advertisers to promote financial products that allow them to trade shares in trusts that accumulate large amounts of digital currency. The tech giant noted that starting Jan. 29, advertisers will be able to promote "financial products that allow investors to trade shares in trusts that accumulate large amounts of digital currency." Google added that more clarification on the updated policy scope and requirements will be made in January 2024.
When the new changes go into effect, they will further expand the scope of cryptocurrency-related products that advertisers can promote on Google's vast network. Google banned crypto-related ads in 2018, but has since gradually softened its stance.
Currently, the platform allows users to promote certain products that are not directly related to buying, exchanging, or holding crypto. In addition, advertisers can also promote NFT games that enhance the user experience or lock new levels using blockchain-based assets.
Is Bitcoin ETF Coming Soon?
Google's latest ad policy update and timing could further indicate that the U.S. Securities and Exchange Commission (SEC) is in the process of approving spot Bitcoin ETFs. Specifically, the update includes the phrase "Advertisers offering Cryptocurrency Trusts targeting the United States." In investing, investment trusts and ETFs are often used sequentially to refer to products that provide exposure to an underlying asset or index.
At the moment, nothing has been approved at this stage, but Google's latest developments come at a time when the SEC is entering advanced talks with issuers who have applied to launch Bitcoin ETFs. According to the indications, the approval could come in January, which coincides with the month that Google updated its ad policies.
Meanwhile, Bitcoin (BTC) has taken a break after an uptrend. The leading cryptocurrency fell as low as $40,400 in the early hours of Monday but has since risen above $42,200.
#ContentStar# #GateLive# 
