Venturefounder considers Bitcoin might not withstand the rally to USD 24,000 and would lose its USD 23,000 price level. However, analyst TechDev believes that BTC will rise to a new all-time high before the halving in 2024.

The pioneering cryptocurrency recently reached the USD 24,000 price zone before dropping from its USD 23,000 range. Meanwhile, the price of Ether (ETH) fell back from the USD 1,500 level.

Bitcoin (BTC) accumulated the recent gains following a brief consolidation after a drop of the US dollar fell as stocks peaked.

Crypto analyst Venturefounder said the cryptocurrency might not withstand the rally to USD 24,000, although it was good. He considers that Bitcoin might not sustain that gain for long and would lose its USD 23,000 price level.

Josh Rager, a strategist, and trader, expects the price of Bitcoin to rise by over 20% to start its gain recovery.

An Analyst Predicts the Bitcoin Price Might Reach USD 120,000

In contrast, the True Strength Index (TSI is giving positive signs about the price of Bitcoin. Analyst TechDev considers that the BTC/USD pair will rise to a new all-time high before the halving in 2024.

That indicator provides data on assets either overbought or oversold at a given price. Several basic calculations allow the index to provide that data.

TechDev said that the drop in Bitcoin prices from November 2021 had caused considerable concern. Therefore, he foresees that historical price formations could repeat themselves.

According to the analyst, the pioneering cryptocurrency might reach between USD 80,000 and USD 120,000 in 2023. In addition, he predicts a price between USD 30,000 and USD 50,000 in 2024 and USD 200,000 in 2025.

Michael van de Poppe Thinks Traders Will Hold BTC in the Long Term

Although global market capitalization has plummeted by 1.73% over the last 24 hours, the overall crypto market has entered a recovery phase.

Bitcoin seeks to return to around USD 23,000, but this bearish move has made traders and investors anxious about future price action.

Michael van de Poppe, a renowned cryptocurrency analyst, and trader, recently discussed an imminent Bitcoin area for longs. According to the analyst, traders should watch the price level around USD 22,164 to go long.

The European Central Bank (ECB) raising interest rates by 0.5% and rising inflation have caused the current drop in Bitcoin price movement. For the first time in eleven years, citizens are witnessing that decision by that independent financial institution.

Meanwhile, some experts consider that the value of Bitcoin should see an upside at the 200 moving average. Otherwise, the cryptocurrency would drop below the USD 22,000 range, thus reducing its price.

Besides the 200 moving average, market sentiment after Tesla sold its 75% stake in BTC will affect the price.

An Inflow of USD 70 Billion into the Market Capitalization of Bitcoin

The bullish trend around Bitcoin is a USD 70 billion inflow into its market capitalization over the last week. This increase drove the market capitalization by 19.63% to USD 451 billion. However, the market has crashed, leading it to USD 438 billion.

Bitcoin is trading at around USD 23,527 and has accumulated a 4.2% gain over the last 24 hours. Its daily trading volume is above USD 56.12 billion, while its market capitalization is about USD 449.37 billion, according to CoinGecko.

By Alexander Salazar

LINK is trading at USD 6.83 and facing resistance at USD 7.5, and the bears are controlling the market. The analysis reveals that the cryptocurrency follows a significant bearish trend, which will likely continue.

Following the recent drop below USD 7, the price analysis of Chainlink (LINK) is bearish. LINK recently traded at around USD 6.83 and now faces resistance at USD 7.5.

The price of LINK has support at USD 5.6, but a break below this level might cause a drop to USD 5. The bears are controlling the market, driving the crypto asset lower.

Analysis of the Price of LINK in the Long Term

The daily chart shows that the price of LINK has been bearish over the last 24 hours after falling by 7.85%. The value of LINK has risen over the past few days as a recent drop in prices caused a 7% price decline.

LINK is trading at nearly USD 6.83, but its price might leave the USD 5.6 support level if it continues to drop.

The signal below the Moving Average Convergence Divergence (MACD) shows that the market is bearish. The relative strength index (RSI) indicates that the market is almost reaching the oversold region at the 53.38 level.

While the resistance levels are at USD 7 and USD 7.5, the support levels are at USD 6.0 and USD 6.5.

As a sign of a bearish trend, the upper Bollinger band has moved below the 20-day moving average. Since the dots are above the candlesticks, the Parabolic SAR (stop and reverse) shows that the market is bearish.

The cryptocurrency is trading at USD 6.83 and facing resistance at USD 7.5. The value of LINK has support at USD 5.6, but a break below this level could cause it to drop to USD 5. The bears are controlling the market as they are driving the price lower.

However, LINK might recover in the long term as the price rises again.

Analysis of the Price of LINK in the Short Term

Although LINK has been one of the best-performing cryptocurrencies, it has dropped by 7.85% over the last 24 hours. The 4-hour chart shows that the altcoin has been down for the past few hours.

LINK is trading at nearly USD 6.83, but it might leave the USD 5.6 support level if the price continues to drop.

The signal line below the MACD shows that the market is bearish. The RSI indicates that the market is nearly at an oversold area at the 46.55 level.

While the resistance levels are at USD 7 and USD 7.2, the support levels are at USD 6.5 and USD 6.0. As a sign of a bearish trend, the upper Bollinger band has moved below the 20-day moving average.

The price of LINK might continue its decline in the short term as bears still control the market. Although the price has support at USD 5.6, a break below this level might cause it to drop to USD 5.

The bears are controlling the market as they are driving the price of LINK lower. Chainlink might remain bearish as its value continues to drop.

The analysis of the price of LINK reveals that the cryptocurrency follows a significant bearish trend, which will likely continue. However, the bears control the market while the decrease in volatility favors them.

Consequently, the bears might push prices toward USD 5 in the short term. However, if the bulls control the market, the price might retest resistance levels at USD 7.

By Alexander Salazar

Ethereum could deal with 100,000 TPS. Surge, Verge, Purge, and Splurge upgrades will arrive after the Merge. ETH prices went up at least 5.7% on the day.

The Merge caused hype and FOMO over the past week, and now, the Ethereum network will undergo a Surge, Verge, Purge, and Splurge as part of its continuous development schedule.

Ethereum co-founder Vitalik Buterin revealed the next steps in the roadmap for the network at the annual Ethereum Community Conference, held in Paris on July 21.

All this hype at the moment got focused on the Merge, which should get released on September 19, less than two months away. This upgrade will arrive with a new proof-of-stake consensus procedure and end the energy-intensive proof-of-work mining.

Buterin introduced new surnames at the conference that will take effect once the Merge has happened.

Industry analyst, Miles Deutscher, revealed a series of predictions about what to expect from the Surge, Verge, Purge, and Splurge going forward.

Development Roadmap is Only Halfway Complete

The Surge is the most significant decision towards scaling with the introduction of sharding, or side-chains, in 2023. Buterin said that Ethereum would count on the power to process 100,000 transactions per second by the end of this roadmap.

This upgrade will be more advantageous to network users as it will reduce transaction costs and times, which, at the moment, is one of the banes of using layer-1 Ethereum.

On the other hand, The Verge implemented Verkle Trees, a powerful upgrade to Merkle proofs that allow much smaller proof sizes. This implementation is another scaling upgrade that modifies storage on the network and minimizes node size.

The Purge is a cleanup stage that eradicates some historical data to streamline storage and reduce network congestion. The final upgrade consists of several upgrades and fine-tuning to consolidate smooth network activities following the previous improvements.

Buterin acknowledged that developers still have a long way to go as Ethereum will be 55% complete once they consolidate the Merge.

Buterin also highlighted that the most significant difference between Bitcoin and Ethereum is that Bitcoiners say Bitcoin is 80% complete, but Ethereans say Ethereum is 40% complete.

ETH Prices Reaches higher Peaks

Asset prices continued to reach higher rates this week, gaining a good percentage registered at 31%. On the other hand, ETH was trading at $1,565 at the time of press; after it briefly caressed $1,600 during the late hours of July 21.

This coin has surpassed Bitcoin with a 5.7% daily gain compared to just 0.5% for BTC following the Tesla selloff. The minor bounce has made Bitcoin prices gain 4% to reach $22,127 this July 19.

On the previous day, on-chain analytics provider Glassnode highlighted that BTC managed to trade below its realized price for over a month. There were several signals that a capitulation had already taken effect in the market. Markets remain somber in general, but Ethereum remains down from its November 2021 all-time high.

By: Jenson Nuñez

In 2021 Bit2Me began to offer services in Latin America, now it starts the acquisitions of crypto companies. Fluyez is the first Peruvian cryptocurrency trading company that has the endorsement of the Fintech Association of Peru. The crypto winter presents a perfect opportunity for changes or updates to the crypto industry.

Since Bit2Me obtained an investment of 20 million euros through an ICO, Leif Ferreira, CEO and co-founder of Bit2Me, and his team have drawn up an expansion plan for the Spanish FinTech. Latin America is an obvious step for their expansion and now they seem to have started to actively take those steps.

As the CEO of Bit2Me already explained, the expansion abroad from Spain was a clear step for the Spanish exchange. This expansion throughout the Latin American continent has already been taking place since 2021 when they expanded their coverage to more than 13 countries in Latin America.

Details about the Acquisition of Fluyez

On this occasion they have taken an important step in Peru, with the acquisition of the Peruvian cryptocurrency exchange, Fluyez, thus starting their acquisition strategy according to Bit2Me, which gives rise to possible new purchases of strategic crypto companies, as Ferreira stated, “We hope that in the following months new opportunities can be closed with other companies in the industry”

The Spanish company has been lucky because it launched the ICO in the midst of an upward trend and currently seems to start its spending, at least in purchases of other crypto companies, in the middle of the crypto winter when some companies are suffering.

Fluyez Relevance and Changes to Suffer after its Sale

Fluyez is the first Peruvian cryptocurrency trading company that has the endorsement of the Fintech Association of Peru and that after being present in the national market, made the leap to other Latin American countries, such as Mexico, one of the countries of the continent with greater projection for the crypto sector.

The Peruvian startup has great visibility and confidence in the national market. Fluyez started operations in March 2021 and works with more than 60 cryptocurrencies. The FinTech offers its users cryptocurrency exchange and custody services as well as other more innovative services such as loans, rewards, and payments in cryptocurrencies.

Although Bit2Me has bought Fluyez, it will continue to operate independently under the leadership of its management staff, as the Spanish exchange will focus on advising and encouraging the expansion of Peruvian FinTech by making available to the startup all the resources and knowledge that Bit2Me has treasured since its creation in 2015, as confirmed by Ferreira, “We want Fluyez to continue operating autonomously, but with all the capabilities that a collaboration of this type allows.”

On the other hand, Luis Eduardo Berrospi, CEO and co-founder of Fluyez, was happy with the sale of the exchange, which according to him will benefit.

In this regard, Berrospi states his intention to “promote this industry locally in a safer, legal, transparent and backed way.”

The crypto winter presents a perfect opportunity for changes or updates to the crypto industry, Bit2Me could be one of the beneficiaries.

By Audy Castaneda