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Cryptocurrency News Articles
Bitcoin (BTC) Price Seeks to Flip $62,000 to Support, Eyes Fresh All-Time High in October: Analysis
Sep 20, 2024 at 06:04 am
Bitcoin sought to flip $62,000 to support on Sept. 19 as traders digested a 50 basis point rate cut by the U.S. Federal Reserve for the first time since 2020.
Bitcoin (BTC) price support at $62,000 came into play on Sept. 19 as traders reacted to the U.S. Federal Reserve cutting interest rates by 50 basis points for the first time since 2020. Top crypto analysts believe that the world’s largest cryptocurrency by market capitalization could hit a new all-time high as soon as next month if a key support level holds. October Could Be a Blockbuster Month for BTC’s Price Bitcoin had a promising start to 2024, rising over 30% year-to-date. This was largely driven by several bullish fundamental catalysts, including the launch of spot BTC exchange-traded funds on U.S. exchanges and the fourth quadrennial halving event, which reduced the reward given to miners for solving valid blocks from 6.25 BTC to 3.125 BTC. Unlike previous cycles, the Bitcoin price hit a new record high around $74K in the lead-up to the halving, leading many market observers to predict a supercycle within the current halving year. Roughly 151 days have passed since the Bitcoin halving, and BTC’s price is yet to break past its pre-halving all-time high. Notably, previous halvings set the stage for multi-fold price rallies. Analysts have been discussing whether the crypto king will launch a parabolic rally in Q4 2024. Earlier this week, the price of BTC dropped below the $60,000 zone ahead of the Federal Reserve’s first expected rate cut in four years. The crypto has since bounced back, rising to $62,319 at press time, up +4.2% on the day. According to crypto trader, analyst and entrepreneur Michaël van de Poppe, Bitcoin could rocket to new lifetime highs in October. “Yes, there we go. Bitcoin is above $60,000 again, after having a minor correction. Continue to hold above $58,500 and we’ll be going to see a new ATH in October,” van de Poppe posited. Popular trader Jelle shared a similar optimism, anticipating a return to BTC price discovery next month. “#Bitcoin is still playing out similarly to the summer of 2023. Months of chop, finding a bottom in early September, and slowly grinding up now,” he stated. “Should accelerate towards the end of the month, leading to new highs in October if this plays out the same. I’m pretty sure it will.”Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- A Whale Made More Than $1.2M on $POPCAT Amid the Token's Surge
- Sep 20, 2024 at 08:25 am
- A significant whale trader has taken advantage of the surge in Popcat's ($POPCAT) demand and bought more than $1.2 million in unrealized profits.
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- Claim Your Blur $BLUR Airdrop: Guide Inside
- Sep 20, 2024 at 08:25 am
- Michael JonesFollow--ListenShare🔸Cost: free 🔸Expected Earning: upwards of $600 🔸Token Drop: Blur $BLUR 🔸Estimated Time: 5 mins Welcome: Claiming your blockchain Blur $BLUR tokens is hassle-free! Just follow these simple steps and start using your tokens today. 👉 How to Claim Blur $BLUR Airdrop via DappRadar Looking to secure a Blur $BLUR airdrop with DappRadar? Follow these easy steps to start and obtain your share of digital assets: ❗ Step 1: Visit DappRadar Website To begin claiming an airdrop via DappRadar, the initial step is to navigate to the DappRadar website by clicking here. Once you're on the site, you can start the process of claiming your airdrop. ❗ Step 2: Initiating the Claim Process After configuring your Web3 wallet and linking it to the Ethereum mainnet, you're prepared to initiate the Blur $BLUR airdrop claim process on DappRadar. Navigate to the airdrop section on the website and comply with the supplied instructions to finish the claim. Be sure to follow each step thoroughly to ensure a successful claim and obtain your Blur $BLUR airdrop.
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- IND vs BAN: What To Expect From Day 2 Of 1st Test?
- Sep 20, 2024 at 08:25 am
- The India vs Bangladesh Test series has got off to a spicy start, with both sides bringing out their best on the first day. As the action now shifts to the second day of the match
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- BlockDAG’s $1 Target: Premier League Deal Rumors Fuel Whale Interest, As Cardano Faces Uncertainty & DOGE Eyes a Bull Run
- Sep 20, 2024 at 08:25 am
- Cardano (ADA) has recently shown modest growth, but its price prediction remains uncertain, with analysts divided on its potential to rise or face declines. Meanwhile, Dogecoin (DOGE) has begun building momentum, sparking speculation about a possible Dogecoin (DOGE) bull run, although significant resistance looms.
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- DOGS's Price Prediction Looks Bright Thanks to a Growing User Base and Catizen's $CATI Token Is Preparing for a Major Launch This Month
- Sep 20, 2024 at 08:25 am
- Yet, most developers and holders are looking forward to BlockDAG's Testnet launch on September 20, eager to try out features like EVM support and a Blockchain Explorer.
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- Terraform Labs Wins Court Approval to Wind Down Operations After $4.47 Billion SEC Settlement
- Sep 20, 2024 at 08:20 am
- Terraform Labs received court approval on Thursday to wind down its operations in bankruptcy after agreeing to settle a U.S. Securities and Exchange Commission lawsuit
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- Crypto Analyst Altcoin Sherpa Says Fetch.AI (FET) Is Primed to Skyrocket
- Sep 20, 2024 at 08:20 am
- In a new strategy session, crypto trader Altcoin Sherpa tells his 223,600 followers on the social media platform X that machine learning platform Fetch.AI (FET)
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- Cryptocurrency Markets Trade 5.9% Higher to $2.19 Trillion as Crypto Short Liquidations Spike
- Sep 20, 2024 at 08:20 am
- Notable Statistics: Notable Developments: Top Gainers: Trader Notes: With Bitcoin prices chasing the $63,000 mark, Cold Blooded Shiller predicts that if this move breaks to the upside, “expect this area to be a sweep with a fast response back.” He suggests keeping note of the $61,500 level.
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- CYBRO Presale Exceeds $2 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity
- Sep 20, 2024 at 08:20 am
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.