10h20 4 min of reading by Evans S.

Since its inception, Bitcoin has experienced roller coasters. While some analysts predict dizzying heights for the cryptocurrency, others remain skeptical about its short-term prospects. However, hope is rekindled with the bold prediction from BitQuant, an influential technical analyst, who forecasts that Bitcoin could reach $80,000 by the end of May and $95,000 in June.

BitQuant recently made waves by announcing that Bitcoin could reach a new historical high of $80,000 by the end of May. This announcement has sparked enthusiasm among Bitcoin supporters, who see this forecast as a sign of an imminent bullish market recovery.

The analyst does not stop there. According to him, Bitcoin could even reach $95,000 in June, marking a rapid progression. For BitQuant, the technical signals and current market trends support this prediction. He remains confident, stating that a price correction after nearing $100,000 would be natural but not alarming.

However, this optimistic outlook is not shared by all. Some analysts warn of continued volatility and short-term price corrections, reminding that the cryptocurrency market is unpredictable.

Michael Von de Poppe, another influential trader in the crypto world, adopts a more cautious approach. According to him, Bitcoin could remain in a price range between $67,500 and $68,000. He predicts short-term corrections followed by rebounds but remains skeptical about a rapid rise to $80,000.

For his part, Willy Woo, a respected analyst, maintains an ambiguous position. Although he is optimistic about Bitcoins future, he prefers not to commit to a precise prediction for June. For Woo, it is only a matter of time before Bitcoin reaches a new all-time high above $73,000, but he remains cautious in the face of market uncertainty.

These differing opinions highlight the complexity of the cryptocurrency market, where technical analysis and market sentiment play crucial roles. Despite the divergent views, the hope for a bullish recovery remains vivid among Bitcoin supporters.

If BitQuants prediction proves accurate, Bitcoin could experience an unprecedented growth period. Reaching $80,000 by the end of May would be a remarkable feat, boosting investor confidence and attracting new capital to the cryptocurrency.

However, it is important to consider potential challenges. The volatility of the crypto market is well known, and external events such as government regulations or economic fluctuations can significantly influence prices. Additionally, investors must be prepared for price corrections, even if the overall trend remains bullish.

BitQuants technical analysis is based on solid indicators, but the crypto market remains unpredictable. Investors should thus remain vigilant and diversify their portfolios to minimize risks.

In any case, Bitcoin continues to capture the imagination. The coming weeks will be crucial in determining whether this prediction will come true, marking a new chapter in Bitcoins tumultuous history. Whether it reaches these projected heights or not, Bitcoin remains an exciting adventure, full of surprises and twists. Is it the turn of the SHIB ETF?

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.

Fascin par le bitcoin depuis 2017, Evariste n'a cess de se documenter sur le sujet. Si son premier intrt s'est port sur le trading, il essaie dsormais activement dapprhender toutes les avances centres sur les cryptomonnaies. En tant que rdacteur, il aspire fournir en permanence un travail de haute qualit qui reflte l'tat du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

See original here:
Bitcoin in Difficulty: A New Hope at $80,000 by the End of May - Cointribune EN

Investing.com-- price slipped on Friday, pulling back even further from highs hit earlier in the week as concerns over high for longer U.S. interest rates largely offset a key development in the U.S. approval of exchange-traded funds that directly track Ether.

While Bitcoin was still sitting on some gains for the week, it was back within a $60,000 to $70,000 trading range seen for over two months. It also trimmed a bulk of its weekly gains on Thursday and Friday.

Bitcoin fell 3.6% in the past 24 hours to $67,486.0 by 08:12 ET (12:12 GMT).

World no.2 token dipped 5.1% to $3,718.70 amid some profit-taking.

But the token was trading up 22% over the past seven days, buoyed chiefly by the Securities and Exchange Commissions approval of applications from several major exchanges to list a spot Ether ETF.

The SEC approval applications from the Nasdaq, CBOE and the NYSE to list ETFs that will directly track the price of Ether.

The step marked some progress towards the eventual approval of a spot ETF for trade, although the SEC has to now engage with applications from fund managers to list a spot ETF. Applicants include VanEck, ARK Investment Management and seven other issuers.

Rumblings of the SECs approval had boosted Ether prices through the week, with the actual event sparking fleeting gains in the token.

But fears of high for longer U.S. interest rates were a key point of pressure on crypto markets, especially as hawkish signals from the Federal Reserve showed increasing anxiety amid policymakers over sticky inflation.

A slew of Fed members said that inflation was likely to take longer to reach the central banks 2% annual target, while the minutes of the banks late-April meeting showed some policymakers were even open to raising interest rates further.

This saw traders largely price out expectations for any rate cuts this year. Traders were seen pricing in a nearly equal probability of rate cut or a hold in September, at around 46%, according to the .

High for longer rates bode poorly for crypto, given that the sector usually thrives in low-rate, high-liquidity markets. Most token prices fell on this notion, with a rebound in the dollar also pressuring markets.

fell 4.7% while rose 0.9%. Meme tokens and dropped 5.7% and 3.7%, respectively.

The approval of ether spot ETFs likely opens the door for the next chapter of crypto ETFs, Standard Chartered (OTC:) analysts said.

"For other coins markets will look ahead to their eventual ETF status as well, albeit this is likely a 2025 story not a 2024 one," Standard Chartered told The Block.

The banks analysts believe the green light for ether ETFs points to a notable shift in US regulators stance. Specifically, it suggests that ETH is not classified as a security by the SEC, thereby implying that other ETH-like coins, which were previously under scrutiny in cases such as the 2023 XRP case, may also not be considered securities.

"In several cases the core technology is so similar to ETH it would be difficult for the SEC to claim they were securities given the ETH position," analysts said. "The crypto industry now seems to have political backing on both sides of the aisle."

They view the latest support for crypto in the US as a "true watershed moment." As such, analysts think that the next question is not whether but when the market will witness more regulatory changes.

See original here:
Bitcoin price today: dips to $67k as rate fears offset spot Ether ETF approval - Investing.com

U.Today - The price has sent some questions about the future of digital gold with a surge at around the $69,000 level, but maybe some answers can be found on the Bitcoin liquidation heat map, with critical levels at $68,300 and $69,800, highlighting their importance for short-term price movements.

From this heat map, clearly, liquidity builds around the prices of $68,300 and $69,800. These correspond to areas where strong buying and selling pressure is focused, making them pivotal for Bitcoin's next moves. Of course, at the current price levels of $69,000, these could easily act as really strong support and resistance zones that will drive the path of Bitcoin for days to come.

Technically, this is a channel in which Bitcoin has traded, with the 50-day moving average used as good support around the $65,000 area. The RSI above 50 indicates that the bulls have a small advantage, but the market does not show overbuying signs. A balanced RSI points to room for Bitcoin to move in either direction.

This is a very important level because the $68,000 area is a huge support. If price action falls right to that price area, that could actually bring in the buying pressure that supports the price from there. There is a lot of sound liquidity at that level, so it would indicate that a lot of traders have their buy orders set in just expectation of a bounce from that area.

There is an important area of resistance around $69,800. Breaking above it would mean the beginning of an intensive purchasing flow and thus could lead Bitcoin to new highs. The stacking of liquidity at $69,800 signals that most of the sell-side volume is located there, and this is what Bitcoin has to chew through to keep grinding higher.

Nonetheless, the general market sentiment around Bitcoin is still positive, considering the surge in institutional interest and rising adoption. In any case, the short-term view will entirely be a function of how Bitcoin behaves against these crucial levels. Either a bounce off the support of $68,000 or a break above $69,800 would set the stage for the next significant move.

This article was originally published on U.Today

See more here:
Two Crucial Bitcoin (BTC) Price Levels to Watch This Week - Investing.com

A 23-year-old crypto user has presented an orange flag with the Bitcoin (BTC) logo for observers to see at an elevation of 8,849 meters the summit of Mount Everest.

In a May 23 X post, Dadvan Yousuf announced he had climbed the highest mountain in the world, reaching the summit on May 20. Surrounded by sherpas and fellow climbers, he used his time at the summit to show off two flags: for Kurdistan and the BTC logo.

Funnily enough, other climbers asked about the memecoin pepe and where the best place to buy it was on the highest place on earth, A spokesperson for Yousuf told Cointelegraph. The sherpas were enthusiastic about the principle of Bitcoin and were visibly happy.

Yousuf said the expedition was intended to highlight the global disparity in access to financial education. Born in Iraq and with a business now based in Dubai, the Bitcoiners reported net worth was more than $300 million as of January 2022.

Overtourism has become an increasing problem on Everest in the last twenty years. With the summit being featured on social media for the first time, many first-timers or inexperienced climbers come unprepared for the harsh conditions.

Yousuf reported it took roughly 50 days to reach the summit, giving the Bitcoiner time to acclimate to the thinner air. Though more than 7,000 climbers have scaled the summit since Sir Edmund Hillary first did in 1953, more than 300 have been reported dead in the attempt.

I fell down the Hillary step twice and almost died several times, Yousuf told Cointelegraph. During the expedition I almost lost my fingers due to frostbite.I owe a lot to my sherpas who helped me.

Related: Bitcoin price at $150K in 2024 is base case Tom Lee

Though crypto users have not always attempted anything as high as Everest, some have promoted digital assets during climbs. In 2023, a climber financed his trip to the top of Mount Kilimanjaro in Tanzania partly with Bitcoin as part of efforts to raise awareness for financial literacy. In 2018, three individuals placed a Ledger wallet at the summit of Everest the wallet was not visible in the videos Yousuf provided to Cointelegraph.

According to data from Cointelegraph Markets Pro, the price of Bitcoin was $67,879 at the time of publication. The cryptocurrency reached an all-time high price of $73,738 on March 14.

Magazine: Get Bitcoin or die tryin: Why hip hop stars love crypto

Read this article:
Bitcoiner raises the orange flag on Mount Everest - Cointelegraph