According to asset management giant Bitwise, the convergence of crypto and artificial intelligence (AI) technology could provide a $20 trillion boost to the global economy.

Juan Leon, the company’s senior crypto research analyst, says in a new report that the intersection between crypto and AI “will be even bigger than people imagine.”

According to Leon, the global race for AI supremacy has created unprecedented demand for data centers, pushing most of the industry’s giants to capacity limits, with even facilities under construction being leased in advance.

The analyst says Bitcoin (BTC) miners could be among the beneficiaries of the new demand for data.

“This is where the miners come into play.

Bitcoin miners – the computer networks that secure the Bitcoin blockchain – are built exclusively to process and store gigantic amounts of data. In other words, they have exactly the resources – powerful chips, state-of-the-art cooling systems and the associated infrastructure – that AI companies are desperately seeking.”

Another area where crypto could intersect with AI, according to Leon, is virtual assistants. Since the ability of virtual assistants like Apple’s Siri to perform complex tasks is currently quite limited, the analyst says it will likely be necessary to integrate AI assistants into blockchains and have them work with digital money.

“Combining AI assistants with smart contracts and digitally native money like Bitcoin or stablecoins – designed for secure transfer without the slow oversight of central authorities – could open up new ways to further increase our productivity.

Developments like these make me believe that the integration of AI and crypto will benefit both sectors and reshape the way we innovate and interact with the world.”

You can read the full Bitwise report here.

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By Massimiliano Dobner, Brokerage & Execution, Market Hub – IMI Corporate & Investment Banking Division, Intesa Sanpaolo

What was the liquidity landscape in the equities sector like this year?

2023 was a very strange year for equities. It started with very cautious expectations and analysts who saw an increase in downside risks, but instead it went much better than expected and the main global indices recorded positive performances. Despite this, volumes recorded a decline compared to the previous year: in Europe, the monthly ADV of 60-65 billion is closer to the values ​​of 2021 than to those of 2022, the year in which tensions in the East (especially in Q1 and Q2) and the outbreak of the Ukraine war had severely affected trading.

There were also some interesting changes in the European market infrastructure. SI and OTC volumes increased year-on-year to around 20% of total volume, resulting in more fragmented market liquidity. Growing investor interest was also seen in the closing auctions on lit markets, with record volumes exceeding 15% of total flow in recent months. However, the role of traditional lit markets (outside auctions) remains predominant, even if there was a slight decline to around 35% of total volume. The remaining market share was distributed between periodic auctions, dark pools and off-book. The situation in Europe mirrors that overseas, where volumes fell by 7-8% year-on-year, following a particularly eventful first quarter due to the Silicon Valley banking crisis and continued rising off-exchange liquidity of around 45% of total equity market volume.

What liquidity problems are there in Europe and how is your desk dealing with them?

The fragmentation of liquidity pools following the introduction of MiFID has certainly given rise to a proliferation of solutions that have made it difficult for market participants to access all sources and therefore made it more complicated for brokers to offer their clients the best possible trading options. Another trend in which we have actively participated has been the growth of retail order flow. In recent times, especially after Covid and the introduction of the controversial order flow payment models, the market has responded to the increased interest from retail clients with new tailor-made solutions, even in 2023.

The different characteristics of each country also create a diverse European context with a variety of microstructures and market participants with different requirements. In Italy and Germany, for example, a very large part of the liquidity comes from retail investors, although in Italy the primary market remains the most used (also due to the Tobin tax), while Germany is increasingly relying on the single/multi-market maker models.

I think the biggest challenge for brokers is directly related to the constant introduction of new liquidity pools, which can not only change the market landscape, bringing with it the risk of ever-increasing fragmentation and higher implementation/joining costs, but also limit access to very few global players. The Market Hub brokerage team has always been very focused on new market developments and we review our best execution policy every year to continue to be highly competitive and compliant with regulatory changes. With this in mind, and maintaining our focus on the Italian domestic market, we see the recent merger between Borsa Italiana and Euronext as a step forward towards creating a hub that could help pool liquidity in the European equity market.

What impact do changing interest and inflation conditions have on your clients’ trading strategy?

As a broker with a strong presence in retail banking, we see the direct impact of this changed macroeconomic scenario in client behavior. The jump in inflation and the resulting sudden rise in interest rates have notably led to a switch in the assets preferred by retail clients, with volumes in fixed income set to see a triple-digit increase in 2023 thanks to attractive yields, while overall volumes in equities have declined. If we want to focus more specifically, we have contributed to the rapid interest in artificial intelligence (AI), which has helped boost technology stocks, particularly in the US market, while in Europe interest has focused on retailers, media and the banking sector, whose balance sheets have benefited from sharply rising interest margins.

Given recent developments in the Middle East, we can also expect greater investor caution towards equities in the near term, particularly growth stocks that are most vulnerable to the impact of high interest rates, although this will depend on how long the resilience of major economies lasts. However, it is important to note that the P/E ratio in Europe remains attractively valued and various European sectors trade at a discount to comparable US sectors, which could be a driving force for future asset allocation decisions.

How do algorithms help you obtain liquidity in the current environment?

In an environment that is experiencing ever-increasing fragmentation with ever-increasing expectations for speed and demands for best execution, the use of algorithms has become essential over time. At Market Hub, we have developed algorithms that are reviewed annually to guarantee our clients the best execution. Even algorithms that have been around for years, such as volume-weighted average price or time-weighted average price and volume, have been further developed to ensure better trading performance. They navigate across all execution venues and provide tailored intelligent order routing, offering significant benefits and outperforming alternative options.

What do you expect from 2024 onwards in terms of liquidity on the stock markets and what is on your agenda for the coming year?

In 2024, we expect major challenges for investors due to peak inflation, rising interest rates, the real estate crisis in China, the war in Eastern Europe, tensions in the Middle East, the status of developed economies and the American elections in November 2024. In addition, it is important to consider the transition of settlement to T+1, which will first occur in the US at the end of Q1 2024 and will most likely be adopted in the UK and Europe in the near future.

Our goal as a broker is to be a point of reference for our clients by reducing their operational complexity, offering a high-quality execution service and the most efficient and innovative technological solutions. We also take into account the difference between high-touch and low-touch client order execution, the typology and size of orders, as well as a high level of integration in multi-asset trading.

©Markets Media Europe 2024

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Cardano founder Charles Hoskinson discusses Cardano’s flexibility, governance, and potential to outperform Bitcoin due to its adaptability and innovative approach.

In a recent YouTube video, Charles Hoskinson, the founder of Cardano, laid out his vision of why Cardano could eventually overtake Bitcoin.

Hoskinson attributes this potential to Cardano’s flexibility, decentralization, and effective governance, comparing its adaptability to the rigidity of companies like BlackBerry, which failed to evolve and eventually became obsolete.

The real reason why #Cardano will overtake Bitcoin? | Interview clip with Charles Hoskinson

WATCH: https://t.co/S6ytJhMamG pic.twitter.com/R20u0gHowi

— Altcoin Daily (@AltcoinDailyio) June 15, 2024

He also argues that the only value Bitcoin has is that it is big and successful. Last month, the Cardano founder claims that Bitcoin cannot survive without the broader crypto market. He claimed that BTC could be replaced by another “digital gold” with similar properties.

Flexibility and governance as key differentiators

Hoskinson emphasizes that Cardano’s ability to absorb new technologies and adapt to changing competitive realities is a key factor in its potential success. He argues that while Bitcoin can be compared to gold, Cardano’s focus is on first principles thinking, Decentralisation in EdinburghDecentralization and on-chain governance are what set it apart.

The industry leader stresses that good governance is critical for long-term success, citing examples from the tech industry where poor governance led to loss of market share for companies like Microsoft. Cardano’s approach, he believes, empowers individuals and communities to build and launch new projects, contributing to a thriving ecosystem.

Cardano’s resilience and upcoming milestones

Hoskinson also addressed the skepticism that has surrounded the project recently, claiming that Cardano will remain amid widespread fear, uncertainty, and doubt (FUD). He pointed out the significant discrepancy between Cardano’s actual progress and the portrayal by crypto influencers and the media.

In particular, Cardano is close to an important milestone with the upcoming Chang hardforkplanned for this quarter. This hard fork will usher in a new era of governance for Cardano, the result of years of rigorous testing and community participation.

Additionally, the Cardano community is experiencing rapid growth in decentralized applications (dApps), indicating a thriving ecosystem gaining traction among developers and users.

Current market development

Meanwhile, Cardano (ADA) is trading at $0.4128 at press time, up slightly by 0.32% over the past day. It also has a 24-hour trading volume of $185,782,743. However, over the past week, ADA has seen a decline of 6.46% and currently has a market cap of $14.6 billion, making it the 10th largest crypto asset.

In comparison, Bitcoin (BTC) is priced at $66,452.76, reflecting a 0.43% price increase in the last 24 hours and a -4.61% decrease in the last week. BTC currently has a 24-hour trading volume of $14,426,845,233.53. Bitcoin’s current market cap is $1,310,007,732,209.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial loss.

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• SOL’s monthly NFT transactions were much higher than Bitcoin and Ethereum.
• ETH’s weekly selling volume increased while SOL and BTC fell.

Solana [SOL] continued to dominate the NFT ecosystem last month, followed by major players such as Bitcoin [BTC] And ether [ETH].

Let’s dive deeper into the performance of these blockchains in the NFT space to better understand who is actually leading the market.

Solana takes the win

Coin98 Analytics recently published a tweet Highlighting the performance of multiple blockchains in the NFT space.

According to the tweet, SOL was the market leader in terms of the total number of retailers last month, as their number reached 308,000.

Solana was followed by Bitcoin and Ethereum with 129,000 and 74,000 unique traders respectively. polygon [MATIC] And Apartments [APT] and also made it into the top three on the same list.

Solana also dwarfs the rest with a whopping 5.2 million monthly NFT transactions. On the other hand, BTC and ETH’s numbers were 550,000 and 437,000, respectively.

AMBCrypto’s view on DappRadar’s Data revealed that STEPN, Mad Lads, and Famous Fox Federation were the top 3 NFT collections on Solana over the past 30 days.

NodeMonkes, Bitcoin Puppets and RuneStone were the top three BTC collections.

Meanwhile, Bored Ape Yacht Club, Milady Maker and Mutant Ape Yacht Club occupied the top three spots on the Ethereum blockchain.

It was interesting to note that despite Solana’s top position, its monthly NFT sales volume dropped by more than 40%. AMBCrypto reported earlier how BTC eclipses ETH in terms of monthly NFT sales.

However, a similar downward trend was also observed in the NFT sales volume of BTC and ETH, as it declined by 62% and 52%, respectively.

Nevertheless, the number of buyers and sellers of SOL increased by double digits, indicating high activity.

Source: CRYPTOSLAM

The last seven days have seen a lot of changes in terms of growth as ETH outperformed the rest. Data from CRYPTOSLAM showed that ETH’s NFT sales volume increased by 17% last week.

IMeanwhile, SOL and BTC’s numbers dropped by 18% and 37% respectively. Notably, ETH also had the highest sales volume at over $40 million, while SOL’s number was the lowest at $14 million.

Source: CRYPTOSLAM

The state of SOL, BTC and ETH

While the NFT market experienced a turnaround last week, the prices of all cryptocurrencies rose.

On the one hand, the prices of BTC and ETH fell by 4.4% and 3.4%, respectively, and on the other hand, SOL fell by almost 10%. At the time of writing, BTC was trading for under $67,000.

According to CoinMarketCapAt press time, ETH and SOL were trading at $3,558 and $144, respectively.

To read Ethereum [ETH] Price prediction 2024-25

The declining price movements also had a negative impact on the social metrics of these cryptocurrencies.

AMBCrypto’s analysis of Santiment data revealed that the weighted sentiments on SOL, BTC, and ETH were declining, meaning that bearish sentiment around them was prevalent in the market.

Source: Santiment

Next: Cardano’s Worrying Future Outlook: Will ADA Drop to $0.38?

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Fear, uncertainty, and doubt (FUD) dominated the cryptocurrency market this week as volatility took over and most cryptocurrencies crashed. Bitcoin (BTC) has also suffered from this pessimistic sentiment, creating a scenario that favors an impending short squeeze for the asset.

In particular, the open interest (OI) in the Bitcoin derivatives market remains at an all-time high, as previously reported. On June 15, Finbold pulled updated data from CoinGlass, which showed an OI of $34.5 billion at a BTC price of $66,224.

Open interest in BTC futures (USD). Source: CoinGlass

High speculative demand for open long and short positions has created significant imbalances that could favor short squeezes. This is because short sellers’ leveraged trades created liquidity pools to the upside, particularly at the $72,000 level, a key price resistance.

Looking closer, there are over $2 billion worth of Bitcoin short liquidations, with smaller – but still relevant – pools reaching as high as $73,000. Therefore, the $72,000-$73,000 zone becomes a likely target in the event of a short squeeze.

BTC liquidation heatmap. Source: CoinGlass

Short squeeze coming? Bullish divergence in Bitcoin

Notably, the professional trader and analyst who goes by the name Credible Crypto has discovered other indicators pointing to a short squeeze. In a recent post on X, the analyst pointed out a bullish divergence with the cumulative volume delta (CVD).

BTC/USD and Bitcoin CVD. Source: Credible Crypto on X

In a comment, Credible Crypto explained that a downtrending CVD means that there are more sell orders than buy orders. Therefore, the BTC price was expected to drop following the increased selling pressure, but this is not the case. The trader believes that this is a bullish indicator that buy orders are being consumed and a supply shock is imminent.

“CVD is not the same as volume – CVD measures the net difference between buy and sell orders in the market. So if there is a downtrend, it means there are more market sells than market buys. Normally this would cause the price to fall, but if the price doesn’t go down despite a lot of market sells… what does that tell us?”

— Credible cryptocurrency

Still, technical analysis and pending liquidations are not conclusive evidence that a short squeeze will occur. The state of the market changes every second as cryptocurrency traders reassess their positions and change their exposures, market orders, and open positions – changing the probability of high volatility events and changing trends.

Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.

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4:00 p.m.
3
min reading time of
Micaiah A.

The cryptocurrency market is currently going through a tricky phase marked by strong selling pressure. This situation is causing traders to break out in cold sweats as they helplessly watch major altcoins fall below critical support levels. Although accumulation in spot Bitcoin ETFs is increasing, the trend of massive selling is worrying investors.

The shocking influence of miners on the Bitcoin price

Bitcoin, often referred to as the queen of cryptocurrencies, recently surpassed the 71,000 dollar mark strengthens optimism among market participantsWhen the SEC gave the green light to the Ethereum Spot ETF, euphoria reached its peak and historic records were expected to be set imminently.

But the euphoria was short-lived. A sudden drop in the price of Bitcoin dashed hopes of quick profits and left investors confused.

Marked bearish candles quickly took over the Buying pressurewhich is taking Bitcoin away from its uptrend. The hypothesis of a low below 60,000 USD is no longer ruled out, which is fueling speculation.

Experts point out the capitulation of the miners as the main reason for this selling pressure, noted CoinTurk. Since the average production cost is higher than the selling price, miners are forced to liquidate their assets, causing their balances to drop to historically low levels.

Since the beginning of the year Miners’ reserves have fallen from 1.84 million to 1.8 million BTC. a sign of massive selling to cover operating costs following the block reward reduction.

Turbulence on the crypto market and massive BTC sales

Bitcoin miners recently sold more than 1,200 BTC, or about $80 million, contributing significantly to the recent price correction.

This selling movement prevented Bitcoin Breaking the crucial resistance at 71,800 USD, This put the much-anticipated rally on hold. Data from Glassnode suggests that this phase of miner capitulation, although painful, may be coming to an end.

Once this phase is over, a new bullish dynamic could emerge, and gives new hope to investors.

The flagship cryptocurrency has yet to prove its resilience in the face of this turmoil. The coming days will be crucial to assess whether The market can overcome this selling phase and reach new heights.

Investor reactions and price developments will be crucial for future developments. One thing is certain: Bitcoin miners will continue to play a role through their actions. a central role in the dynamics of the cryptocurrency market.

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Micaiah A.

The blockchain and crypto revolution is underway! And the day the impact will be felt on the weakest economy in the world, I will, against all hope, say I had something to do with it

DISCLAIMER

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

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Today’s edition of the weekly roundup: Bernstein predicts Bitcoin (BTC) will hit $1 million in 2033; Ethereum ETF launch expected in July; MicroStrategy wants to buy more BTC; and more scammers are entering into romantic relationships to defraud their victims.

Bernstein sees BTC at $1 million despite market uncertainty

• Pepe Coin (PEPE) saw an 11% increase in 24 hours to $0.0000129, with volume quickly rising to $1.27 billion. Toncoin (TON) also saw a similar surge, hitting a new all-time high of $8.13.
• Interestingly, Mantra (OM) also hit a new all-time high of $1.0924 last week amid UAE expansion efforts and project development.
• The NFT market saw a 17% increase, reaching $145.3 million in sales. Bitcoin led this increase with a 50% increase in NFT sales, surpassing Ethereum in volume.
• Bitcoin price fell to $66,000 ahead of the Federal Open Market Committee (FOMC) decision. Analysts noted that similar market behaviors were observed in previous FOMC-related scenarios.
• Despite the market-wide pessimistic sentiment last week, asset manager Bernstein predicted that Bitcoin’s price would rise to $1 million by 2033. He also predicted that Bitcoin’s price would reach $200,000 in this cycle, buoyed by ETF-driven demand.
• Bitcoin and Ethereum balances on exchanges hit four-year lows, falling below 2.3 million and 16 million, respectively, as investors continued to withdraw their assets from exchanges.

Developments in crypto ETFs

• Outflows from BTC ETFs reached $200 million on June 11 ahead of the release of the US Federal Reserve’s inflation data. These outflows occurred as investors anticipated impacts from the upcoming data release.
• Bloomberg ETF analyst Eric Balchunas said Ethereum ETFs could launch in July, following recent SEC filings and market preparations.

Important regulatory measures

• Nigeria has dropped criminal tax proceedings against Binance executives Nadeem Anjarwalla and Tigran Gambaryan. The government withdrew the charges after reviewing the evidence and circumstances.
• As part of a regulatory action, the Securities and Exchange Commission of Thailand has revoked the operating license of the crypto exchange Zipmex, citing compliance issues as the reason.
• Meanwhile, in the US, the Federal Trade Commission warned about crypto romance scams. The FTC reported a rise in scams in which scammers set up romantic relationships to defraud their victims of their cryptocurrency holdings.
• Additionally, OFAC sanctioned an employee of Polyus, a Russian state-owned gold producer, for money laundering via cryptocurrencies. The individual used cryptocurrencies to conduct money laundering operations.

Blockchain investments are increasing

• Last week, Paradigm announced an $850 million fund for early-stage crypto projects. The fund will support startups developing blockchain technology and applications.
• Blockchain startups secure $109.3 million in major financing rounds.
• MicroStrategy announced plans to buy more bitcoins by offering $500 million worth of convertible bonds. Shortly thereafter, the company increased the offering to $700 million.
• Fireblocks has expanded its connectivity by merging with Coinbase International Exchange.
• Ripple is aiming for dominance in Asia with a new blockchain fund. The fund is intended to support blockchain projects in the Asian market. Ripple wants to strengthen its presence in the region with this initiative.

Crypto hits and runs

• OKX customers fell victim to a SIM swap attack. Hackers hijacked phone numbers to intercept SMS-based 2FA codes and withdraw funds. OKX advised users to use app-based authentication methods.
• Crypto scammers posed as Binance co-founder Yi He to defraud victims of $210,000, using false identities and convincing messages to trick people into transferring cryptocurrency.
• Hackers have stolen over $22 million from the British exchange Lykke. The platform launched an investigation to identify the attackers and strengthened its security protocols.
• UwU Lend also lost $19.3 million in a hack. Attackers exploited a vulnerability in the platform’s smart contracts. UwU Lend suspended operations to conduct a security audit and fix the problems.

Innovations and partnerships

• Last week, NEAR Foundation spin-off Nuffle Labs raised $13 million. The funds will be used to develop blockchain solutions and expand Nuffle Labs’ operational capabilities.
• The IOTA Foundation’s Web3 protocol has been selected for the EU Blockchain Sandbox Initiative, including IOTA in the effort to provide Web3 solutions for blockchain integration across Europe.
• Polygon has launched a new P1 billion grant program. The program supports and funds innovative projects within the Polygon ecosystem.
• Polygon has also allocated 35 million MATIC to support projects building on its network.

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Decentralized exchange (DEX) Osmosis will upgrade to version 14.0.0, dubbed “Neon,” in line with a broader plan to expand product integrations and make cross-chain trading more lucrative for traders, developers said Wednesday.

The upgrade, which is scheduled to take place on January 23 at 16:00 UTC at block height 7937500, will include a number of important upgrades to Osmosis.

One of the key features of the upgrade is the implementation of geometric TWAP (Time Weighted Average Pricing) in Osmosis’ liquidity pools. In finance, a TWAP is the average price of an asset over a period of time. A TWAP strategy is often used to minimize the impact of a large order on the market by breaking the large order into smaller amounts and executing them at regular intervals over time, according to Binance.

The above allows protocols built on Osmosis to choose between two pricing mechanisms relevant to the protocol to provide “concentrated liquidity” to users – a design that increases the capital efficiency of using a DEX while improving liquidity pool (LP) rewards.

Liquidity pools refer to tokens supplied by a user to a DEX, which in turn incentivizes users to become liquidity providers in exchange for a share of transaction fees and free tokens.

The upgrade would also make pricing more efficient and fend off liquidity attacks through upward price manipulation. Such manipulation has previously led to scammers making as much as $100 million by manipulating DEXs.

Read more: How market manipulation led to a $100 million exploit on Solana DeFi exchange Mango

Additionally, Neon will introduce a downtime detection module that will detect when the Osmosis network is down or unavailable and prevent improper liquidations on other lending protocols based on Osmosis’ pricing data.

Osmosis developers said it was important to deploy this upgrade quickly to pave the way for the upcoming integration of Mars Protocol, a lending and borrowing marketplace.

Users will not be able to use Osmosis DEX and staking and governance features will also be unavailable until the upgrade is complete.

Osmosis’ native OSMO token lost 3% over the past 24 hours, in line with an overall market decline. The protocol currently holds $160 million worth of locked tokens, down 90% from its 2022 high of $1.6 billion.

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• Bitcoin’s long/short ratio has dropped sharply on the charts
• Some metrics suggest that investors should still consider buying BTC

It has been a few days since Bitcoin [BTC] started trading below the $70,000 mark. While the market situation continued to remain somewhat pessimistic, some major players in the crypto space decided to exit the market. Hence the question: does this mean that investors should stop thinking about accumulating BTC? Let’s find out.

Whales sell Bitcoin

CoinMarketCaps Data revealed that BTC has failed to climb above $70,000 since June 10. In fact, the king of cryptocurrencies fell victim to a massive price correction that pushed it below $67,000. At the time of writing, BTC was trading at $66,196.58, with a market cap of over $1.3 billion.

Meanwhile, whales started reducing their long positions.

AMBCrypto’s analysis of Coinglass data revealed that BTC’s long/short ratio has also declined sharply, a sign of bearish sentiment with more emphasis on selling or shorting assets.

Source: Coinglass

Meanwhile, Lookonchain recently shared a tweet Listing some important metrics that give a better picture of whether investors should still consider buying Bitcoin. First of all, the tweet mentioned the Bitcoin Rainbow Chart.

According to this, the rainbow chart has shown that now is still a good time to buy BTC. The Bitcoin rainbow chart is a tool that shows the long-term price movement of Bitcoin on a logarithmic scale.

The Relative Strength Index (RSI) is also an important indicator. According to the data from Lookonchain, BTC’s RSI had a value of 69.93. This means, when compared to historical data, that BTC has not yet reached a market top. Apart from that, the heatmap of the 200-week moving average showed that the prevailing price point was blue. Simply put, the price top has not been reached yet and it is time to hold and buy.

Is there anything positive to be expected in the short term?

Since the above data sets indicated further growth potential for BTC, AMBCrypto subsequently analyzed Santiment’s data to look for further bullish signals.

Source: Santiment

Accordingly, the buying pressure on BTC has remained high, which can be considered a bullish signal. This was evidenced by the decrease in supply on exchanges and an increase in supply outside of exchanges.

A look at Glassnode’s data also highlighted that BTC’s NVT ratio has been declining. A decline in this metric usually indicates a price increase in the future.

Source: Glassnode

To read Bitcoin [BTC] Price prediction 2024-25

Finally, AMBCrypto’s analysis of the cryptocurrency’s daily chart revealed that the BTC price touched the lower boundary of the Bollinger Bands, indicating a possible price recovery.

On the contrary, the MACD showed a bearish edge, indicating further price declines. Therefore, a certain level of caution would not be the worst idea for traders who want to take advantage of Bitcoin’s prevailing market trend.

Source: TradingView

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A Bitcoin (BTC) investor, analyst, and best-selling author has started an experiment with his now crypto-friendly bank. He invested $1,100 in the 11 cryptocurrencies the bank made available to its clients and shared the 4-month results of the crypto portfolio.

The Bitcoin investor is Marco Bühler, who appears on X under the name sunnydecree and describes his experiences there.

“Four months ago, my bank started offering cryptocurrencies. For fun, I “invested” $100 in each coin, for a total of $1,100. That’s how it works.”

Specifically, the shared image shows a crypto portfolio worth $1,005.24 that has lost $95, or 8.6%, in four months. Polygon (MATIC) is the biggest loser, down 41%, while Bitcoin Cash (BCH) is the biggest gainer, up 47.8%.

Crypto portfolio worth $1,100. Source: sunnydecree on X

A Bitcoin investor’s $1,100 crypto portfolio

If we look at the crypto portfolio four months after purchasing 11 different cryptocurrencies worth $100, we see the following result.

First, BCH, BTC, Ethereum (ETH), and Litecoin (LTC) positions are the only ones with unrealized gains, totaling a notional value of $478.57. The top four cryptocurrencies represent 36% of assets and 47.6% of portfolio valuation as of publication time.

Then Uniswap (UNI), Aave (AAVE), Chainlink (LINK), Tezos (XTZ), Compound (COMP), Cosmos (ATOM) and MATIC complete the selection of 11 cryptocurrencies with a total nominal value of $526.67.

Interestingly, the position in Bitcoin Cash surprised other investors who would have expected a different outcome given the cryptocurrency’s small market capitalization.

The experiment shows the unpredictability of investing in cryptocurrencies, even over a short period of time. While diversification can reduce risk, it does not guarantee profits in the volatile market. In conclusion, the experiment suggests that choosing the right projects might be better than choosing all available projects.

However, investors should carefully consider their risk appetite and investment strategies when investing in cryptocurrencies.

Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.

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