Ethereum
Bitcoin, Ethereum and XRP Price Prediction: Can We See a Rally After Halving This Week?
With the success of Bitcoin Halving this Friday, the blockchain completes 840,000 blocks. Additionally, the halving reduces the mining reward to 3,125 Bitcoins per block. As the event is known to create bull markets, the fourth half comes at a bad turn in global markets.
With US markets at a vulnerable stage and the Iran-Israel conflict creating waves of fear, the crypto market is struggling for a bull run. However, given that buyers gained confidence after the halving, the crypto market could see a big rally next week.
So, with the crypto market at a pivotal stage and anticipations growing, will the bulls make a comeback next week? How will this affect major coins like Bitcoin, Ethereum and XRP?
Let’s find out more in our BTC, ETH and XRP price analysis.
Will Bitcoin make a comeback?
After the Bitcoin halving, the BTC price showed a slight increase of 0.36% on Saturday to currently trade at $64,162. While demand pressure at the psychological level of $60,000 is still intact, the daily indicates continued sideways action.
For more than two months, the price of BTC has been trading sideways, resonating between the two horizontal levels of $73,850 and $60,000. The consolidation came after a notable rally from late January to mid-March, which revealed the formation of a bull flag.
In theory, this setup offers buyers a period of pause to reclaim their exhausted bullish momentum. Amid Bitcoin’s resilience in the face of interim geopolitical tensions, buyers increased the coin by 7% from $60,000 support.
Amid the post-halving rally, BTC price could cross the trend’s overhead trendline, a sign of a continuation of the uptrend. If the trend continues, buyers could lead a rally to $85,000 followed by $95,000.
Will Ethereum Spark the Next Altcoin Season?
Ethereum, the second largest cryptocurrency by market capitalization, has been in a steady correction since mid-March. The formation of a new high and low indicates that short-term sentiment has turned bearish as traders sell on a bullish rebound. From highs of $4,090, ETH price plunged 25% to a low of $3,050.
Amid the current market consolidation, ETH price is trading at $3,051, projecting an intraday loss of 0.21%. If supply pressure persists, ETH price is poised for another 8% decline before hitting an emerging support trendline intact since October 2023.
ETH price shows a history of bullish reversal from this dynamic support. Thus, this indicates that buyers continue to accumulate this asset during market declines.
Thus, a potential rebound would accelerate buying pressure and entice Ethereum buyers to chase a potential target of $3,730, followed by $4,090.
Can XRP Price Give a Significant Boost?
XRP, the native cryptocurrency of the Ripple network, has been an underperforming asset so far in 2024. Amid the recent market sell-off on April 13, attributed to Iran’s attack on Israel, the XRP price saw a significant outflow and plunged below the January 2024 low of $0.485.
Amid the recent downturn, XRP price has plunged below a 16-month support trendline. Ripple coin is currently trading at $0.514, struggling to follow this breakdown as general market sentiment is optimistic with the recent Bitcoin halving.
If the new recovery to $0.5 pushes the price of XRP above the crossed trendline again, sellers will lose their grip on this asset.
The failure of the breakdown could favor buyers and strengthen the price of XRP to regain a value above $0.56 and target $1.
What’s next for Bitcoin, Ethereum and XRP prices?
Following the Bitcoin halving, the cryptocurrency market offers local funds for the majority of major coins. With Bitcoin rebounding from $60,000, Ethereum and XRP are likely to see demand pressure from below. This indicates renewed recovery sentiment among market participants.
Ethereum
Ethereum (ETH) Whales Are Getting Incredibly Bullish: Details
Cover image via www.freepik.com
Disclaimer: The opinions expressed by our editors are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial loss incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Ethereum (ETH) Whales are making major moves in the cryptocurrency market, suggesting strong bullish sentiment despite short-term price volatility. According to crypto analyst Ali Martinez, these big investors have accumulated over 126,000 ETH in the last 48 hours, or about $440 million.
In a tweet, Ali wrote: “Ethereum whales have accumulated over 126,000 ETH in the last 48 hours, worth around $440 million.”
According to CryptoQuant CEO Ki-Young-JuWhales may be preparing for the next move in the market. Ju wrote in a tweet that “whales may be preparing for the next rally in altcoins.” He noted that the volume of limit buy orders for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating that strong buy walls are being put in place.
Ethereum’s recent developments, including the recent launch of Ethereum spot ETFs in the US, appear to have increased its appeal among large holders, known as crypto whales. Ethereum recently celebrated nine years since its inception, and as the ETH network continues to evolve, it is likely to attract more institutional interest.
Related
According to data from Farside Investors, fund flows into U.S.-listed Ethereum spot exchange-traded funds turned net positive daily for the first time since their inception on July 31, primarily due to a decrease in outflows from the Grayscale Ethereum Trust.
Ethereum Price Drops Due to Market Crash
Bitcoin and Ethereum, along with the majority of other crypto assets, appear to be underperforming during Thursday’s trading session.
According to CoinMarketCap dataAt the time of writing, Bitcoin’s price was $64,034, down 2.77% from the previous day. Ethereum’s price is down 4.21% from $3,175, where it was 24 hours ago. Several cryptocurrencies were posting larger losses; Solana’s Dogwifhat was down 12% in the past 24 hours, and PEPE was down 7% in the same period.
According to CoinGlass, price followers have led to the liquidation of $225 million worth of derivatives contracts over the past day.
Ethereum
Ethereum (ETH) Price Hits $50,000? Target Updated by Analyst
Vladislav Sopov
Extreme skepticism from Ethereum (ETH) detractors has prompted a veteran researcher to double down on Ether
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Ethereum (ETH) proponent and AI enthusiast Adriano Feria has presented an extremely optimistic Ether price prediction. After the reaction of skeptics, he reconsidered the target, increasing it by 100%. His views are aligned with those of major institutional players, according to recent data.
Ethereum (ETH) bullish hypothesis should get us there: researcher
Ethereum (ETH) could hit $50,000 early in the current cryptocurrency market cycle. At the same time, a “bullish scenario” could push the price of the second-largest cryptocurrency to six-digit values, Web3 and AI educator Adriano Feria told X.
In a tweet shared with his 14,000 followers, Feria stressed that he is confident in the promising prospects of Ethereum (ETH) despite the massive wave of hatred against Crypto X. The doubters will regret their skepticism, the researcher admits:
If you hold ETH today, you are truly part of the global elite, because the bullish scenario for ETH should take us to $100,000. You think this is a joke, but there are real financial institutions around the world that have set bullish targets that are close to this. And no, this is not a joke.
Three days ago, he “increased” the $28,000 per ETH prediction published by Eric Conner, a veteran of the Ethereum (ETH) ecosystem and co-author of EIP 1559.
These ultra-bullish statements come amid growing disbelief triggered by ETH’s weak short-term performance.
The second-largest cryptocurrency failed to take off following the launch of the Ether ETF in the United States. At press time, Ethereum (ETH) was trading at $3,311, down nearly 6% from the local peak set after the ETF launched on July 23.
Insane BTC and ETH Price Predictions Released Every Day
As previously reported by U.Today, in February, Feria noted the rapid increase in popularity of ETH staking based on on-chain data.
In recent days, more and more analysts are sharing incredibly high predictions for Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies.
For example, US asset management heavyweight VanEck has suggested two scenarios for the price of BTC in 2050.
The most optimistic scenario sees BTC surpassing $52 million per coin, while the $2.9 million mark is considered a “baseline” scenario by VanEck.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)
Ethereum
Lloyd’s of London-backed insurance policies can now be paid in crypto on Ethereum
Lloyd’s of London, the three-century-old insurance marketplace, is supporting digital asset protection policies curated on the Ethereum public blockchain that can be paid for natively, on-chain, using cryptocurrency, through Lloyd’s Coverholder Evertas and smart contract insurance provider Nayms.
Not so long ago, any kind of cryptocurrency insurance coverage Finding solutions was difficult. Aside from the efficiency benefits of paying for insurance policies in cryptocurrency and using blockchain to streamline the burdensome paperwork of intermediaries, a consortium of Lloyd’s of London syndicates backing cryptocurrency-native, on-chain insurance shows how far the industry has come in the last two years.
“We’re enabling people using public blockchain infrastructure to interact with traditional, highly regulated, fiat-backed institutions in a transparent way,” Evertas CEO J. Gdanski said in an interview. “Whether it’s paying in USDC or native cryptocurrency, or placing policies entirely on-chain with blockchain helping coordinate between a broker, the policyholder, and insurers, we believe this is a foundational infrastructure.”
Nayms, a digital marketplace where brokers and underwriters connect with crypto capital investment, is a play on Lloyd’s “names,” the collection of individuals and companies that underwrite risks in the historic insurance market.
“The native cryptocurrency expertise we bring to the underwriting process gives us a deep understanding of the risks we insure,” Nick Selby, the company’s head of European underwriting, said in an interview. “It means we’re very explicit about what we do and don’t cover, and we can pay insured claims faster than anyone else.”
Ethereum
10 Years of Crypto Innovations! Here’s How Buterin Sees the Future of Ethereum!
2h45 ▪ 3 min read ▪ by Eddy S.
At the EDCON2024 conference, Vitalik Buterin unveiled the future directions of Ethereum, with a focus on innovative application development and wallet security. He presented promising projects and innovative ideas to improve privacy and accessibility for cryptocurrency users.
Ethereum’s new innovations by Vitalik Buterin!
Vitalik Buterin delivered a key speech on the future of Ethereum in the next ten years. He stressed that the priority of the crypto blockchain will now be to develop applications. Some of the already successful applications include decentralized finance (DeFi), decentralized identities (DID) with the Ethereum Name Service (ENS), DAOs and NFTs.
Vitalik also highlighted several promising projects. These include the prediction market Polymarket, the social media aggregator Firefly, the wallet Daimo, and the voting tool Rarimo. These applications illustrate the diversity and potential of Ethereum-based technologies to transform various sectors of crypto.
Vitalik also proposed several innovative ideas to improve the security and accessibility of Ethereum wallets. One of his proposals is to encrypt the private key directly into the cell phone’s chip! Thus turning the phone into a secure crypto wallet. Another idea is to place part of the private key in a regulatory-compliant custodial institution, thus providing an additional layer of security.
Vitalik also mentioned the use of zero-knowledge (ZK) proof technology to link KYC information to the wallet. This approach would ensure the privacy of cryptocurrency users while meeting regulatory requirements.
Security and Privacy: Two Requirements for Cryptocurrency Users
These proposals aim to improve the security and privacy of cryptocurrency users while facilitating the adoption of the technology by a wider audience. By combining technological innovations with practical applications, Ethereum continues to position itself as a leader in the cryptocurrency and blockchain ecosystem.
Vitalik Buterin’s speech highlighted Ethereum’s many advancements and future prospects. With a focus on application development and innovative proposals for crypto wallet security, Ethereum is well-positioned to continue to grow and innovate in the years to come.
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Eddy S.
The world is changing and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in everything that is closely or remotely related to blockchain and its derivatives. To share my experience and promote a field that fascinates me, there is nothing better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.
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