Bitcoin Price Prediction: $15,000 If Stock Market Crashes, and Analyst Forecasts Billion Dollar Liquidations

Audy Castañeda
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Bitcoin Price Prediction: $15,000 If Stock Market Crashes, and Analyst Forecasts Billion Dollar Liquidations

Gareth Soloway, chief market strategist at verifiedinvesting.com, predicted that Bitcoin price could return to the $15,000 level. The co-founder of Glassnode, Negentropic, draws connections between the increase in liquidity in the cryptocurrency market and China’s efforts to stabilize its own markets.

Market strategist Gareth Soloway has published his own prediction for the price of Bitcoin, saying that it could reach $15,000 in the event of a significant sell-off in the stock market.

Glassnode co-founder “Negentropic,” recognized by his X nickname, recently shared insights on the current state of Bitcoin price via a tweet. Negentropic revealed that Bitcoin’s rise above $42,200 created a large liquidity pool for long positions, indicating “neutral momentum.”

Soloway Says $15,000 in Case of Significant Stock Market Selloff

Soloway responded to an interview, delving into the latest bitcoin trends and its possible future trajectory. Among several things, the Bitcoin bull market and major events were highlighted respectively in 2017 with the introduction of regulated bitcoin futures and in 2021 with the Coinbase initial public offering (IPO).

Coming to the current moment, Soloway sees the Bitcoin optimism alongside the significant event of the approval of Bitcoin spot ETFs in the US.

Specifically, the strategist outlined the exits from Grayscale Bitcoin Trust (GBTC). In this sense, Soloway said that the significant discount at which GBTC is trading is a kind of added advantage for investors.

However, despite this, Soloway stated in his prediction a possible drop in the price of Bitcoin and bearish sentiment.

Bitcoin Price Forecast Bearish and Falls to $15,000

The market strategist said his biggest concern is a bearish view of BTC. This situation could occur whether you see a rally in the S&P market or a reduction in risk in the broader markets.

Soloway is not the only one seeing a downward trend. Recently, Deutsche Bank analyst research report highlighted the bearish sentiment right now stating that the Bitcoin price prediction could fall below $20,000 within a year.

Deutsche Bank’s forecast is the result of a retail cryptocurrency market sentiment survey, which involved 2,000 people across the US, UK and Eurozone. Therefore, out of 2,000 people, more than a third of the sample interviewed believes that BTC will reach a price below $20,000.

Negentropic: “Liquidity is Key”

On January 29, Negentropic posted the following on X:

“1. Bitcoin Analysis: Bitcoin surged to $42.2k, providing liquidity for long positions, with a neutral impulse.

2. Liquidity Gap: The price is moving to fill the liquidity gap above $42k, indicating potential volatility. Approximately $659 million in liquidations occurred.

Outlook: Bullish momentum could trigger $1 billion in short position liquidations, potentially propelling the market upward.”

Meanwhile, this move suggests that Bitcoin is aiming to close the liquidity gap beyond $42,000, which could lead to higher volatility and change market sentiment.

There have been $659 million in liquidations so far, Negentropic believes that because things are going well for Bitcoin, many people could decide to sell their bets against it, possibly reaching $1 billion in short positions.

However, this optimism aligns with reducing selling pressure from investors in the Grayscale Bitcoin Trust (GBTC).

Analysts’ Positive Perspectives

Bullish sentiments continue to prevail. Analysts like Jelle see promise for Bitcoin to reclaim the $42,000 level, suggesting it could be “time to focus on long positions once again.”

Michael van de Poppe goes a step further and suggests that the recent correction could be a thing of the past.

As of now, Bitcoin is trading at $43,466, reflecting an 8.9% increase over the past week. Despite this positive move, the daily trading volume has decreased from $26 billion to $14 billion, indicating a cautious sentiment among investors.

By Audy Castaneda

Finland To Reveal Monero User Data

Leonardo Perez
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Finland To Reveal Monero User Data

This week, the Finnish news portal MTV Uutiset published an alarming article about the cryptocurrency Monero (XMR). According to journalists, the National Investigation Bureau (KRP) of Finland managed to trace transactions in XMR and reveal some data about its users. However, upon analyzing the article in detail, it becomes clear that this is not a complete violation of the key principles of altcoin transfer encryption.

This week, the Finnish news portal MTV Uutiset published an alarming article about the cryptocurrency Monero (XMR). According to journalists, the National Investigation Bureau (KRP) of Finland managed to trace transactions in XMR and reveal some data about its users.

However, upon analyzing the article in detail, it becomes immediately clear that this is not a complete violation of the key principles of altcoin transfer encryption.

How Anonymity is Organized in Monero

Not long ago the Monero cryptocurrency community faced serious problems. In November 2023 it became known that funds had been stolen. They were intended for crowdfunding new solutions in the project ecosystem. The hacker embezzled 2,675.73 XMR, which was equivalent to $460,000 at the time.

Exactly how this happened is unknown. However, only two people had access to a specific wallet. The secret combination to manage the content of the address should not fall to someone else.

As a result, the incident turned out to be extremely unpleasant, but the problems were resolved. The project representatives returned the stolen amount from the main project fund.

Monero provides a high level of anonymity through the use of so-called ring signatures and shadow addresses.

Ring signatures allow you to create groups of signatures where the actual sender of the funds cannot be precisely identified. This is achieved by including multiple potential senders in the transaction signature, making it difficult to isolate the actual sender.

What Is Finland Investigating About Monero?

In addition to ring signatures, the Monero network also uses sensitive addresses to protect recipients. In short, a unique address is created for each transaction, providing an additional layer of anonymity. It is only used once, making it difficult to analyze the flow of funds.

Ring Confidential Transactions (RingCT) technology is implemented to hide transaction amounts. It ensures that transaction amounts remain invisible to outsiders, while maintaining the functionality of the blockchain.

The Monero team implemented their project so well that no government agency has been able to fully analyze the transaction.

Can Monero Be Hacked?

KRP officials examined transactions at the address related to a hacker’s hack and subsequent extortion of funds from the Finnish psychotherapy clinic Vastaamo. The case in question dates back to 2020, when hackers twice stole data from the company and threatened to reveal private patient information unless the company paid them a ransom.

KRP declined to comment on the details of the Monero “hack.” Most likely, they do not have a universal formula for tracking all financial flows in the cryptocurrency network, and the results obtained were a matter of luck.

Monero Removed from Exchanges

In early January 2024, the management of the OKX cryptocurrency exchange removed almost all anonymous cryptocurrencies from trading. The coins in question are FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC and ZEN.

In early 2024, Binance stated in a blog post that Monero, Zcash and other sensitive coins “exhibit significantly greater volatility and risk than other tokens” and “are at risk of not complying with the listing criteria.”

By Leonardo Perez

Pullix (PLX) Presale Sees Increase as Cosmos (ATOM) and Toncoin (TON) Struggle with Major Downtrend

Audy Castañeda
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Pullix (PLX) Presale Sees Increase as Cosmos (ATOM) and Toncoin (TON) Struggle with Major Downtrend

This is the result of a broader phase of market price correction.

Both Cosmos (ATOM) and Toncoin (TON) fell into the red zone on the weekly and monthly charts, worrying many investors and traders about their price prospects.

As a result, traders are turning to lesser-known gems or tokens that have high growth potential. One such token is Pullix (PLX), which has recently made significant progress with its blockchain ICO.

Cosmos (ATOM) Falls Below $10 Resistance: Can It Rise Again?

Cosmos (ATOM) is trading below the 20, 50, and 100-day EMAs, which resist the crypto price trend. Buyers are barely holding on to the 20-day EMA and if it breaks, Cosmos price could see a massive drop, depending on the selling pressure. Its value could fall further and even reach the demand zone in the flow.

Not everything is lost, as its RSI could soon surpass 50, and buyers could regain control if more of them accumulate the Cosmos cryptocurrency. The price could also continue its downtrend near the nearest support level. Over the past week, ATOM traded between $9.22 and $10.52. If it breaks above $11, according to Cosmos price prediction, it may end 2024 worth $16.46.

Toncoin (TON) Is Losing Its Bullish Momentum – Is There Any Chance for Recovery?

The data on the Toncoin (TON) chart suggests that the cryptocurrency is fading in terms of bullish momentum. While the price behind the Toncoin cryptocurrency saw a sharp rise over the previous month, it recently underwent a price correction phase.

The technical indicators on the charts imply that the price has fallen below the 50-day EMA, indicating weakness in momentum. However, Toncoin price is still above its 200-day EMA, suggesting that the positive trend may prevail in the long term. The forecast for the end of 2024 is quite optimistic, as according to the Toncoin price prediction, it is expected to rise up to $3.72.

Pullix (PLX) Surges with Pre-Sale Attention as Over 80 million Tokens Sold

Pullix (PLX) is increasingly gaining traction following its ongoing pre-sale. This innovative trading platform attempts to bridge the gap between CEX and DEX while providing users with a unique combination of both types of exchange.

It will address the liquidity challenges that have prevented the widespread adoption of these technologies, allowing it to stand out in the TradFi landscape. Pullix will also introduce advanced trading tools that enrich user profitability and order execution. Anyone can start trading on margin, gain access to institutional tools, and copy the most successful traders.

The project has sold over 80 million tokens and is now in stage 7 of the pre-sale. Here, a single PLX token is trading at just $0.10, and the pre-sale has raised nearly $5 million. At launch, analysts expect a 100x price increase.

In short, as Cosmos and Toncoin strive to reach new heights, all eyes are on the Pullix pre-sale. The platform will support features such as perpetual futures, CFDs, a secure cryptocurrency vault, a passive income lending protocol, and a DeFi and NFT launchpad. All these aspects position it as one of the best cryptocurrencies to buy now.

It is worth considering that before making major investment decisions, it is best to do your own research, as in the crypto world, volatility is a major issue.

By Audy Castaneda

Discovering Metaverse: Connect with an Ever-Evolving Global Community

Leonardo Perez
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Discovering Metaverse: Connect with an Ever-Evolving Global Community

Exploring the exciting world of the Metaverse.

The Metaverse is a virtual world in constant evolution that invites people to discover limitless experiences. By staying up to date with trends and news, users will be able to explore new dimensions and connect with a constantly growing global community.

Immerse yourself in this technological universe and transform the way you interact. Discover how staying up-to-date in the Metaverse can open up endless fascinating possibilities.

Metaverse in Evaluation: Where Is It in 2024 and What Does the Future Hold?

Josep Hilari, Director of Marketing and Digital Innovation at Ingram Micro, explained that “The Metaverse represents a horizon full of promises, but also challenges. One of the main barriers is the lack of familiarity and understanding of the Metaverse by the majority of society. Added to this is the need for specialized and high-end devices to access more immersive experiences, which limits their accessibility.”

He added that “In addition, there is some skepticism on the part of companies and end users due to concerns about privacy and security in these digital environments. Although, the organization’s guarantee, as well as Europe’s legislative framework, protects end users against the following questions.”

Today, in the Metaverse, there is still too much work to be done. However, although a fully realized Metaverse has not yet been reached, great progress is being seen. For example, major technology companies and new Startups are investing heavily in virtual reality, augmented reality and extended reality technologies.

Likewise, for Aurelio López-Tarruella, director of the Chair for the Responsible Development of the Metaverse at the University of Alicante, Spain, “It seems that young people will be a great piece for the Metaverse to finally take shape. Young people are much more prepared for this type of experience in themed virtual worlds.”

Featured Technology Trends in Latin America in 2024, according to Accenture

Accenture’s “Technology Vision 2024” report revealed that several technology trends will be booming in Latin America this year. These include spatial computing, the Metaverse, digital twins, as well as augmented and virtual reality (AR/VR). The report also highlighted that most of these technologies will be integrated with Artificial Intelligence (AI).

These technologies seek to connect both the physical and virtual worlds, and 33% of users and retailers in the commercial sector already use or would consider using the Metaverse and digital twins. Despite the 90% drop in the last two years, the Metaverse remains one of the most well-known applications in the digital real estate space.

Accenture notes that Meta continues to develop technological capabilities with virtual and augmented reality, presenting “photorealistic” avatars through Codex Avatars and the creation of 3D objects in the physical world with the RealityScan application.

China Creates Metaverse Task Force with Huawei, Tencent and Ant Group

China’s Ministry of Industry and Information Technology (MIIT) has brought together 60 experts, including some of the country’s largest technology companies, to form a new task force to set standards for the Metaverse sector.

Specifically, representatives from Huawei Technologies, Tencent Holdings and NetEase, Baidu, Ant Group and Lenovo Group are among those on the list published by the MIIT.

In September, the MIIT proposed forming a task force to guide the healthy and orderly development of the Metaverse industry through standard regulation, warning that the sector faced ethical and security challenges.

In addition to focusing on national standards, the group would also encourage local companies and institutions to deeply participate in international standard-setting activities.

By Leonardo Perez

Bitcoin Halving: Here’s the Challenge for Miners

Audy Castañeda
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Bitcoin Halving: Here’s the Challenge for Miners

The 2024 halving is approaching for Bitcoin and especially for the world of miners, who play an essential role in its ecosystem. Its role is fundamental for the maintenance of the network. functional, secure and transparent bitcoin.

The upcoming Bitcoin halving in April 2024 will reduce miner rewards, increasing competition due to rising hash rates and mining difficulties. The economic sustainability of mining is the challenge for miners.

Bitcoin Approaches Halving

The Bitcoin halving event occurs every 210,000 mined blocks as stated in the original white papers written by Satoshi Nakamoto. This tends to happen approximately every four years as on average one block is mined every 10 minutes.

Through on-chain data and Glassnode metrics “Bitcoin: number of days until halving” the number of days remaining until the next Bitcoin halving event is monitored. There are 84 days left until the halving, which is scheduled for April 23.

Satoshi Nakamoto designed this mechanism to ensure that the issuance of new Bitcoin falls over time, similar to the extraction of a natural resource that becomes progressively scarcer. Currently, the block reward is 6.25 BTC. With the next halving in April, this reward will drop to 3,125 BTC per block.

Mining Difficulty and Hash Rate

To regulate block production over time, Satoshi inserted a parameter called mining difficulty, which serves to regulate the average block generation time. Also in this case Glassnode, for which we have developed a guide to its metrics, offers the “Bitcoin: difficulty adjustment percentage change”, which allows measuring the percentage change in mining difficulty compared to the last adjustment.

The trend of this metric over the last five years shows that, as expected, the mining difficulty is constantly growing, reflecting the increase in computing power and increased competition in Bitcoin mining.

Mining difficulty is, in turn, directly influenced by total computing power used by miners, which is quantified in hash rate. This is also a figure that is constantly growing over time, as can be seen in the “BTC: hash rate” metric highlighted in orange.

Exashash Hash Rate and Income

The “Mining Revenue for Exahash” metric shows that despite the increase in the overall hash rate, profitability per exahash of computing power, has actually decreased over time for miners. A high hash rate for a single miner increases the chances of successfully adding a new block to the blockchain and consequently receiving the Bitcoin reward.

Bitcoin Production Cost

The entire Bitcoin mining process involves costs, which fall on the miners. Glassnode considers an additional metric called: “BTC Production Cost,” which is designed to estimate the average cost incurred by miners to produce a single Bitcoin. This estimate includes energy costs and amortization of the hardware used in the mining process. According to the current data available, the mining process is currently highly sustainable, with respect to costs.

Halving Challenges for Miners

The first to suffer the halving are the miners. which may be affected by the halving of block rewards, which drastically affects your profitability. In fact, analyzing the historical trend of the metric “Bitcoin: Total Miners Revenue [BTC] – All Miners” it is clearly seen how the profitability has historically decreased after the halving events.

While the halving appears to be a positive event for Bitcoin’s long-term value due to reduced supply, it also highlights operational challenges for miners, particularly those with higher costs.

Miners run the risk of their operations becoming unprofitable if the BTC price does not rise enough to offset the reduction in global premiums and cover operating expenses.

By Audy Castaneda

Why the SEC Won’t Approve a Ripple ETF (XRP)

Leonardo Perez
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Why the SEC Won’t Approve a Ripple ETF (XRP)

Eleanor Terett emphasized the need for a futures-based XRP ETF as a precursor to spot-based approval. Over the past few weeks, speculation about a potential XRP ETF has been rife within the cryptocurrency community. XRP continues to witness significant wallet adoption, surpassing 5 million active wallets on the network.

The recent introduction of Bitcoin ETFs (exchange-traded funds) in the United States has sparked optimism about the possibility of similar ETFs for several cryptocurrencies, including XRP.

Fox Business correspondent Eleanor Terett has highlighted a crucial prerequisite for developing XRP ETFs.

Ripple (XRP) Needs a Future-Based ETF

Terett stated that for XRP to have a spot-based ETF, it first needs a futures-based ETF. Drawing parallels to the approval of Bitcoin spot ETFs, she emphasized that regulatory approval was granted based on confidence in the CME BTC futures market’s ability to provide oversight against fraud and market manipulation.

A comparable system would be essential for the approval of a spot XRP ETF. Terret explained it like this:

“To have an XRP spot ETF, there will first have to be a futures ETF. Part of the approval of BTC spot ETFs was the SEC’s conclusion that the CME bitcoin futures market would be sufficient to provide oversight against fraud and manipulation. If XRP gets a futures ETF, then it is a step in the right direction to one day get a spot.”

Her comments refer to speculation about an XRP ETF, fueled in part by Ripple’s job listing for a Senior Business Development Manager. She mentioned responsibilities, including leading cryptocurrency-related ETF initiatives, further aiding the rumors.

Despite the cryptocurrency community’s persistent advocacy for such an ETF, challenges loom due to Ripple’s ongoing legal battle with the SEC. This regulatory uncertainty has affected BlackRock’s interest in XRP.

No XRP Spot ETF Soon?

Earlier this month, the first 11 US bitcoin (BTC) spot ETFs were approved. The market expects XRP to be one of the coins for which a spot ETF will also be approved, but analysts say this will not happen anytime soon.

The SEC sued Ripple in late 2020 because it believes it sold XRP as an unregistered security (a type of exchange product), which is not permitted. This lawsuit remains pending, despite the court stating last summer that the coin was not sold on the secondary market under securities law. The lawsuit is expected to end next April.

However, the SEC does not seem particularly willing to curb its harsh policy. Recently, it asked Ripple to show financial documents, which Ripple, in turn, considered absurd. Thus, the regulatory body continues its efforts to bend demand to its will.

The approval of the new bitcoin ETFs also came rather reluctantly; The measure was not an endorsement of bitcoin itself.

Ripple (XRP): Network Adoption Increases

Despite the uncertainties surrounding a potential XRP spot ETF, the digital asset continues to witness significant adoption. Santiment, a blockchain analysis company, reported a substantial increase in active wallets holding XRP. The number of addresses with more than 0 XRP exceeded 5 million.

Notably, the count has doubled since February 2021, marking an increase of over 104%, and has tripled since May 2019. Despite these noteworthy developments, XRP price has not reflected the positive trend. observed in wallet activity throughout the year.

According to price data provided by a media outlet, after reaching a high of $0.63 on the first day of 2024. XRP price suffered a significant 19% correction, sliding towards the $0.50 range.

By Leonardo Perez

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