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Bitcoin to $180K? Expect a 30% correction, VanEck warns
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1 week agoon
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adminVanEck’s head of digital asset research, Matthew Sigel, has outlined a detailed forecast for the cryptocurrency market through 2025.
Sigel predicted Friday that Bitcoin (BTC) will reach $180,000 in the first quarter before experiencing a correction. The analysis projects Ethereum (ETH) reaching beyond $6,000, while coins like Solana (SOL) and Sui (SUI) could achieve $500 and $10, respectively.
Sigel anticipates this initial peak will be followed by a market correction, with Bitcoin pulling back 30% and altcoins experiencing deeper declines of up to 60% during the summer months.
To identify potential market tops, Sigel highlights several key indicators for investors to monitor. The research points to sustained high funding rates as a crucial signal.
He noted that when traders consistently pay funding rates above 10% for three months or longer to bet on Bitcoin price increases, it typically indicates excessive speculation in the market.
The analysis also emphasizes the importance of tracking unrealized profits among Bitcoin holders. When a large proportion of holders maintain paper gains with a profit-to-cost ratio exceeding 70%, it often signals market euphoria.
Bitcoin’s market dominance serves as another critical indicator. Sigel warns that a drop below 40% could signal excessive speculation in altcoins, typical of late-cycle market behavior.
The research attributes current market momentum largely to Donald Trump’s election victory and his administration’s projected appointments. The anticipated crypto-friendly leadership team, including JD Vance as VP and Paul Atkins as SEC Chair, suggests a shift from previous restrictive policies toward a framework that positions Bitcoin as a strategic asset.
Following the summer correction, Sigel forecasts a market recovery in fall 2025. Major cryptocurrencies will likely reclaim their previous all-time highs by year-end.
This projection assumes continued institutional adoption and supportive regulatory developments under the new administration.
This market outlook provides investors with specific price targets and warning signals to monitor, while acknowledging the impact of political developments on the crypto market.
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The introduction of Hydra could see Cardano surpass Ethereum with 100,000 TPS
Published
5 hours agoon
December 22, 2024By
adminDisclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Cardano’s Hydra boosts ADA past $1, positioning it as a scalable dApp hub and a potential challenger to Ethereum’s dominance.
Cardano‘s Hydra is the latest scaling solution in Cardano’s ecosystem, and it has seen ADA’s price surge past $1. While ADA’s current rate represents a 65% dip from its peak, ADA holders are 90% bullish.
Compared to Ethereum’s price, ADA is much cheaper, and the developments taking place in its ecosystem could potentially threaten Ethereum’s dominance. Cardano’s Hydra, for instance, can improve Cardano’s scalability, making it a go-to ecosystem for dApp development.
Given Ethereum’s struggles to scale its network, including its move from a PoW to a PoS protocol, Cardano’s Hydra can soon help developers build speedy dApps with high rates of mass adoption.
Cardano’s Hydra on track to elevate ADA to new heights
ADA’s current price at $0.91 is on a bullish trend that has seen ADA surge over 50% in the last 60 days. After ADA’s price languished around the $0.35 zone for months, whale activity is now rising in Cardano’s ecosystem, which has seen market watchers anticipate an additional uptick to $2 in the short term.
According to reports, an influx of over 680 transactions exceeding $1 million was registered on Cardano’s ADA as confidence in ADA’s bull run grew. Cardano’s founder has also confirmed that ADA is primed for higher highs in 2025, especially with the launch of Cardano’s Hydra.
Cardano’s Hydra is set to give developers a unique scaling tool that makes transactions on Cardano cheaper, faster, and more secure. With Ethereum as Cardano’s biggest competition, Cardano Hydra might trigger a migration of developers to Cardano in the near future.
Ethereum’s price drops to below $3,400 amid scalability concerns
Ethereum‘s price has remained sluggish in responding to the bull market even though its recent uptick past $4,000. After surging to a striking distance of $5,000 in 2021, Ethereum’s price plummeted to lows of $1,000 but has recovered amid critical resistance at the $4,000 mark.
Now, Ethereum’s price has been rejected above the $4,000 mark three times, and market watchers are less optimistic that the leading DeFi ecosystem could surge further to $5,000 – $6,00 during this bull run. Some of the obstacles that have hindered a rally on Ethereum’s price include Ethereum’s bloated network, which has registered skyrocketing network fees at peak congestion.
With the advent of scalability solutions such as Cardano’s ADA, Ethereum’s price could experience further sluggish growth. What’s more, mass adoption by institutions will require a lot more liquidity to move Ethereum’s price.
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Ethereum’s potential is fast declining this cycle and investors are looking at alternatives. However, competition from the likes of Cardano’s Hydra is concerning for ETH Holders. However, many ETH holders are switching to a new project leading a new ‘PayFi’ movement. For crypto enthusiasts who want to make swift crypto-to-fiat money payments across the globe, Remittix (RTX) is the latest solution that promises to empower businesses and crypto holders worldwide.
Remittix is fast and reliable with a simple design that allows anyone to send crypto to a recipient’s bank account without the recipient ever knowing that the payment started with crypto. The Remittix Pay API also allows businesses to accept crypto payments with a simple merchant account. Remittix is built on Ethereum, and its RTX token is now in its presale. Analysts are predicting this to become a 100x star in 2025.
To learn more about Remittix, visit the Remittix presale and join the Remittix community.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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Altcoins
Bitwise CIO Matt Hougan Predicts Institutional Interest in Altcoins, Says 2025 the Year of Crypto Diversification
Published
15 hours agoon
December 22, 2024By
adminBitwise CIO Matt Hougan says a wave of institutional interest in altcoins is coming next year, largely due to potential regulatory clarity and more exchange-traded funds (ETFs).
In a new interview with Bloomberg, Hougan says that institutional money is in the early stages of broadening out to other crypto assets besides just Bitcoin (BTC).
Hougan forecasts that 2025 will be the year that institutional investors will begin to incorporate more diversification in their crypto-investing strategies the same way they do in other asset classes like equities or bonds.
“You’re already seeing it broaden out actually. A lot of people were worried about the Ethereum ETFs for instance, which launched this summer and had tepid inflows.
But over the last month or so, you’ve seen billions of dollars flow into those products.
Again, the things that have happened in crypto in the past keep happening. Historically, most people enter crypto through Bitcoin, and then they discover Ethereum, and then they think about Solana. There’s no reason to assume that the institutions that came into Bitcoin won’t move on to other assets in the future.
In fact, I think in 2025, you’re going to see an explosion of interest in index space strategies that give diversified exposure to crypto. Of course, [that is] something we’ve been doing at Bitwise since 2017 when we pioneered that concept. I think 2025 is when that becomes a mainstream way to allocate to this space, the same way it is to stocks and bonds and real estate and everything else.”
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Apple
Billionaire Warren Buffett Abruptly Pours $563,000,000 Into Three Assets After Ditching Apple, Bank of America
Published
1 day agoon
December 21, 2024By
adminBillionaire Warren Buffett just poured more than half a billion dollars into three assets.
After dumping huge positions in Apple and Bank of America and hoarding $325 billion in cash, new SEC filings show the Berkshire Hathaway chairman and CEO has bought $405 million of Occidental Petroleum (OXY).
Occidental Petroleum is a global energy company involved in oil and gas exploration and production, with further ventures in chemicals and low-carbon initiatives.
OXY is down 21% since the start of the 2024, dropping from $60.05 to $47.13 at time of publishing.
Meanwhile, Buffett has also purchased $113 million in Sirius XM Holdings (SIRI) and $45 million in VeriSign (VRSN).
Sirius XM offers satellite and streaming radio services across North America, with its stock down 57% since the start of 2024, from $54.90 to $23.08.
VeriSign is a global provider of domain name registry services and internet security solutions, with shares down 1.35% year-to-date, from $201.56 to $198.84.
Buffett completed purchases of the three companies last week and was required to report the buys immediately because Berkshire now owns more than 10% of each company.
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