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Bitcoin Will Hit $1,000,000 as Soon as Next Year

In a recent interview with Forbes, Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, presented an eye-catching forecast, suggesting that Bitcoin could potentially hit $1,000,000 by 2025.

www.cifdaq.com

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SHIB could surge 696% by 2024, experts say: Opportunity or risk?

The president of the CIFDAQ blockchain ecosystem, Himanshu Maradiya , has predicted a promising future for the Shiba Inu cryptocurrency (CRYPTO: SHIB ).

What happened According to BitFinance , Maradiya expects SHIB to reach a value of $0.0001 by 2024, which would represent a 696% increase from its current price. He further suggests that Shiba Inu could offer even greater returns in the coming year. Based on a potential market recovery and growing interest in the meme cryptocurrency, he predicts a peak value of $0.0003 by the end of this year or early 2025. SHIB has performed modestly in recent days, but has managed to gain 2.49% in the last 24 hours. Since its low of $0.00001087 last week, SHIB has rallied nearly 30%, driven by a broader recovery in the cryptocurrency market.

According to TradingView data , if SHIB manages to break out and close above its moving averages, it could open up the possibility of a rally towards the $0.000020 level. However, if SHIB fails to maintain this momentum, it could indicate that sentiment remains negative. However, not all analysts share this optimism. Utkarsh Tiwari , an executive at the KoinBX exchange, suggested to Forbes that SHIB could reach $0.000066 by the end of this year, but bearish pressure could push the cryptocurrency back through the five-zero threshold.

Why it is important The outlook for Shiba Inu in 2024 is mixed, with some optimistic predictions suggesting significant growth and others anticipating more limited development. The volatility of the cryptocurrency market and the varied opinions of experts underscore the importance of investors carefully evaluating risks and opportunities before making decisions.

www.cifdaq.com

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Meta AI predicts SHIB price for 2025

Although Shiba Inu (SHIB) has had a rough couple of months, marred by volatility and price declines that have seen it drop over 20% in the last 30 days, a newly released artificial intelligence (AI) assistant is fairly optimistic regarding its price performance in 2025. Indeed, Finbold has asked the AI bot created by Meta Platforms (NASDAQ: META), called Llama 3.1, to provide a potential price range for the presently 13th-largest asset in the cryptocurrency sphere by market capitalization from the viewpoint as of August 13.

Meta AI’s SHIB price prediction 2025 As it happens, Meta’s cutting-edge AI assistant has offered several price prediction targets for Shiba Inu in 2025, with the average predicted range between $0.00002 and $0.00012, which would represent a 47.38% or a whopping 784.3% increase from its present situation. More specifically, among the sources that Meta AI used to draw its SHIB price prediction conclusions is Changelly, which Llama 3.1 said “predicts a minimum SHIB price of $0.000024 and a maximum price of $0.000028 in 2025,” whereas CoinCodex “estimates a price range of $0.00002527 to $0.000120.” Furthermore, the AI model also referred to predictions by crypto analysts, including Utkarsh Tiwari, the Chief Strategy Officer at crypto exchange KoinBX, and Himanshu Maradiya, founder and chairman at AI-powered blockchain ecosystem CIFDAQ. “Additionally, experts such as Utkarsh Tiwari predict that SHIB could reach a price range of $0.00003 to $0.0000456 in 2025, assuming favorable market conditions and continued development within its ecosystem. Another expert, Himanshu Maradiya, predicts a more realistic price range of $0.0001 to $0.0003 for SHIB in 2024-2025.”

Shiba Inu price analysis For the time being, Shiba Inu is changing hands at the price of $0.00001357, which represents a 1.78% drop on the day, an accumulated advance of 1.48% on its weekly chart, and a 21.66% loss across the past month, according to the most recent data retrieved on August 13.It is also worth noting that the recent Shibburn data shows a massive amount of SHIB burned on August 12, amounting to over 40 million Shiba Inu tokens, which represents a remarkable 8,007.8% increase, reflecting the community’s growing efforts to reduce the overall supply and bring the price up. All things considered, SHIB could, indeed, follow the path set by Meta AI, as long as the indicators and developments remain favorable for its price. That said, doing one’s own research is critical, as things in the crypto sector can take an unpredicted turn.

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Why Is The Crypto Market Down Today?

The cryptocurrency market experienced a downturn, with the total market capitalization dropping from $2.51 trillion as of May 2024 to $1.95 trillion as of August 6, 2024. The market volume in the last 24 hours has fallen by 13.13%. Bitcoin, the largest cryptocurrency, is currently trading at $55,013, 17.37% down over the past seven days and increased by 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down by 26.53% in the last seven days. The cryptocurrency market plunged yesterday, shedding around $367 billion in value over 24 hours. The major cryptocurrencies like Bitcoin and Ethereum saw substantial drops as investors sold out risky assets.

How is the Crypto Market Performing? The crypto market is in a significant surrendering phase, with Ethereum and Bitcoin experiencing sharp declines. The key market factors include political uncertainty, geopolitical tensions, economic data, and ETF performance.

CoinSwitch Markets Desk said that after seeing one of the biggest crashes in crypto of all time—BTC losing more than 250 billion dollars in market cap in a single day—the world’s largest crypto found support at just below 50k USD and bounced back more than 14% to trade around the 56k USD mark. The crash was primarily triggered by the Middle East escalations of the war between Israel and Iran and the Japanese stock market recording the greatest single-day crash ever since 1987.

He added, however, that the Nikkei index jumped more than 10% today – after losing 12% yesterday to recover most of its losses, which might trigger a rally in global stock markets again. Since this crash can be attributed to the rate hike by the Bank of Japan, it has to be seen whether this pump sustains.

Mr. Sathvik Vishwanath, Co-Founder & CEO of Unocoin, says that the cryptocurrency market is facing its steepest decline since the collapse of the FTX exchange in November 2022, which is in line with the broader global market decline. A key factor behind this decline is the easing of yen-dollar trades. Traders typically borrow in low-interest currencies such as the yen and invest in higher-yielding assets. He also added that the recent increase in interest rates by the Bank of Japan has made these trades less profitable, leading traders to close their positions. This prompted a significant sell-off in both the stock and crypto markets. Over $1 billion was liquidated in the crypto sphere, mostly from long positions, further accelerating the market’s downward trajectory.

Mr. Himanshu Maradiya, Founder and Chairman of CIFDAQ Blockchain Ecosystem Ind Ltd, said that “the recent sharp decline in the cryptocurrency market, with major assets like Bitcoin and Ethereum falling over 10%, can largely be attributed to the Bank of Japan’s decision to hike interest rates. This move has significantly impacted carry trades, a strategy where traders borrow in low-interest-rate environments, such as Japan, and invest in higher-yielding assets, including cryptocurrencies. The Bank of Japan’s interest rate hikes, the first in 17 years, have caused the yen to rise, leading to ‘carry trade unwinding.’ Additionally, rising geopolitical tensions and growing concerns about a potential U.S. recession have further exacerbated the sell-off in crypto markets. The combination of these factors has created a challenging environment for cryptocurrencies, which are particularly sensitive to changes in investor sentiment and macroeconomic conditions. He added that the current correction phase, driven by the Bank of Japan’s monetary policy shift and the resulting yen appreciation, highlights the interconnected nature of global financial markets. Despite the short-term volatility, cryptocurrencies’ fundamental value propositions remain strong. As the macroeconomic landscape stabilizes, we expect a recovery and sustained growth in the crypto market.”

The largest cryptocurrency by market capitalization, Bitcoin has fallen nearly 17.38% in the last seven days and is trading at $55,004 as of August 6 2024. On the other hand, Ethereum almost dipped by 26.85% and is trading at $2,447. The price of Bitcoin fell, hitting below $50,000 on Monday, while Ethereum dropped by almost a third to $2,340 over the past week. Altcoins didn’t escape the rout: Cardano plunged around 27%, Solana by 36%, Dogecoin by 34%, XRP by 23%, Shiba Inu by 30%, and BNB by 25.7%. Cryptocurrency’s bloodbath appears to be part of a broader flight to safety. After last week’s worse-than-expected unemployment report, the economy entered a technical recession, according to a measure called the “Sahm Rule.” It marks the beginning of a recession when the unemployment rate’s three-month average rises by at least half a percentage from its lowest point in the last year. In response, the S&P 500 is nearly down by 2%, the Nasdaq by 2.5%, and the Dow by 1.5%. However, considering the Monday bloodbath overseas, this may be just the beginning of a broader rout.

Is Investing in Cryptocurrency Safe? The cryptocurrency market has seen the good side as well as the worst side of the market, be it post-Russia-Ukraine effects, Terra-Luna crash, FTX collapse or tightened tax regulation, it has witnessed roughest storms during the past few years. The year 2023 gave a fresh start to the crypto world, showing positive signs of recovery. Crypto investors believe that in situations like this, investing in stable digital currencies like Bitcoin and Ethereum in SIP format is a safe choice. Crypto experts consider that in the overall portfolio, investors should just look at investing just the 5% exposure to cryptocurrencies. The most important part is to invest only a miniscule amount and not all your life savings as the market is highly volatile and there are chances of you losing it all.

Steps On How To Invest In Indian Cryptocurrency Market Step 1: Select the best cryptocurrency: Choose a cryptocurrency you wish to invest in. Like any other asset class, crypto has its own fundamentals and different blockchain networks back them, intrinsic value and mining techniques. Make sure that you research and analyze before investing as the crypto market is highly volatile. Choose an exchange that is FIU-registered. Step 2: Select a crypto exchange: After you made up your mind about a cryptocurrency it’s time for you to find a perfect crypto exchange platform for yourself. It is a necessity to have a functional account in a crypto exchange which will help you to buy and sell cryptocurrencies. Check out our article on the best cryptocurrency exchanges in India. Step 3: KYC: Once you select a crypto exchange you need to register yourself by providing personal details like name and address and complete the entire KYC formalities. After setting up your account you’re ready to invest in cryptocurrency. Step 4: Choose payment mode: For buying a cryptocurrency you need to select a payment option that you find comfortable. You can choose peer-to-peer, bank transfer, online payment mode or a crypto wallet. Step 5: Purchase cryptocurrency: After adding the funds to your account you can smoothly buy your selected cryptocurrency. All you have to do is press on the “buy” tab and you can easily buy the cryptocurrency of your choice. Step 6: Storage: After you purchase the crypto coins, don’t forget to store your currencies securely because they are not regulated and you must keep them safe as there’s always a risk of hacking or theft. You can check out the crypto storage options from here. Step 7: Selling cryptocurrency: This is as important as buying as this helps you make money out of investing. You can sell the cryptocurrency the same way you purchased it, just click on the tab “sell” in your portfolio. You can fully or partially sell your crypto investment based on your choice but don’t forget to timely book your profits.

Bottom Line It is a wise choice to observe the crypto market prudently with the uncertain environment and slow recovery of macroeconomic situations in the world. Do not make any reckless decisions as it is a good time to observe the market closely and analyze it. One may never know, but the observation will eventually help the investors to make smart decisions and might have a favorite digital asset at a fair value, once the chaos situation fizzes out completely.

www.cifdaq.com

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Shiba Inu is gearing up for a massive 696% gain by 2024 – are you ready?

The price of Shiba Inu is attracting the attention of cryptocurrency enthusiasts, with some experts predicting a significant rise. Himanshu Maradiya, chairman of the CIFDAQ blockchain ecosystem, predicts that Shiba Inu could reach $0.0001 in 2024, which would represent a 696% increase from its current price of $0.00001436. He said the memecoin has the potential to deliver even more impressive returns, with a target of $0.0003 by the end of 2025. Recently, Shiba Inu rebounded nearly 30% from a low of $0.00001087, coinciding with the broader cryptocurrency market sell-off that briefly pushed Bitcoin below $50,000 and Ethereum below $2,500. Despite this volatility, the price of Shiba Inu has risen 2.49% in the past 24 hours, suggesting that further growth is likely as the market stabilizes. As Shiba Inu enters a recovery phase, investors are exploring other promising opportunities in the cryptocurrency space, including Pawfury, a breakout coin that promises big returns for savvy investors.

www.cifdaq.com

Link: https://www.bitget.fit/zh-CN/insights/posts/427515

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SHIB could surge 696% in 2024, experts say: Opportunity or risk?

The president of the CIFDAQ blockchain ecosystem, Himanshu Maradiya , has predicted a promising future for the Shiba Inu cryptocurrency (CRYPTO: SHIB ).

What happened According to BitFinance , Maradiya expects SHIB to reach a value of $0.0001 by 2024, which would represent a 696% increase from its current price. He further suggests that Shiba Inu could offer even greater returns in the coming year. Based on a potential market recovery and growing interest in the meme cryptocurrency, he predicts a peak value of $0.0003 by the end of this year or early 2025. SHIB has performed modestly in recent days, but has managed to gain 2.49% in the last 24 hours. Since its low of $0.00001087 last week, SHIB has rallied nearly 30%, driven by a broader recovery in the cryptocurrency market.According to TradingView data , if SHIB manages to break out and close above its moving averages, it could open up the possibility of a rally towards the $0.000020 level. However, if SHIB fails to maintain this momentum, it could indicate that sentiment remains negative. However, not all analysts share this optimism. Utkarsh Tiwari , an executive at the KoinBX exchange, suggested to Forbes that SHIB could reach $0.000066 by the end of this year, but bearish pressure could push the cryptocurrency back through the five-zero threshold.

Why it is important The outlook for Shiba Inu in 2024 is mixed, with some optimistic predictions suggesting significant growth and others anticipating more limited development. The volatility of the cryptocurrency market and the varied opinions of experts underscore the importance of investors carefully evaluating risks and opportunities before making decisions.

www.cifdaq.com

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Solana (SOL) Price Prediction 2024,2025 And 2030

Launched in 2020, Solana promised a leap forward in the development of blockchain technology, with unparalleled transaction speeds and a vision for a more scalable and efficient future. The Solana blockchain and its native token (SOL) have experienced both periods of success and formidable challenges over the past three years, from all-time price highs in 2021 to navigating industry-wide catastrophes in 2022, as it has sought to carve out its own niche in the digital asset space and mark its place as a rival to Ethereum. After a remarkable comeback in 2023, many investors are asking: what does the future hold for this high-speed blockchain?

Solana’s Price History Solana first went public via its initial coin offering (ICO) in April 2020, entering the crypto market at an initial price of $153.88. It quickly garnered attention for its innovative technology, promising a scalable solution for decentralized applications. This potential was not unnoticed, as the price of Solana soared, reaching an all-time high of $260 on Nov. 6, 2021. However, the volatile nature of cryptocurrency markets soon left its mark. The 2022 bear market was not kind to Solana, causing the value of the SOL token to decline over 90% from its 2021 highs. In particular, the collapse of FTX, a significant cryptocurrency exchange with deep ties to Solana, triggered a sharp decline in SOL’s value. The coin lost over 50% of its value overnight, a stark reminder of the interconnected risks within the crypto ecosystem. This event led to Solana’s price dipping below $10 in late 2022, casting doubts on its future. Despite these challenges, Solana has demonstrated an ability to rebound. The last quarter of 2023 marked a significant turnaround for the coin, propelling its price above $120 for the first time in years. This resurgence reflects market dynamics and the underlying strength and improvements within the Solana network.

How Will Solana Perform in 2024? As of August 7, 2024, Solana is trading at $152.86 with a market capitalization of $71.60 billion. It is down by 16.66% from the past week and up by 10.26% in the last 24 hours. As we peer into the crystal ball, Solana’s trajectory for the year ahead appears optimistic, with plenty of opportunities for significant advancements. The past year has laid a solid foundation for Solana, setting the stage for what could be an unprecedented period of growth and innovation. One of the most compelling narratives around Solana’s rise is its increasing dominance in the decentralized finance (DeFi) and non-fungible token (NFT) sectors. Solana’s ability to match or surpass Ethereum in these critical aspects of the blockchain economy indicates a robust and scalable infrastructure capable of handling significant transaction volumes, a crucial factor for its continued adoption and growth. The NFT market, in particular, has been a battleground for innovation and competition among various blockchain platforms. Solana’s aggressive foray into this space has not gone unnoticed.

With its high throughput and low transaction costs, Solana provides a compelling platform for NFT activities, positioning it as a strong contender for leading the market in 2024. Many projects building on Solana have successfully mastered the art of marketing to crypto investors, attracting them through high yields and point systems that promise an airdrop in return for using their app. Over the past few months, active Solana users have been rewarded with significant airdrops from multiple projects. Most notably, users of Jito and, more recently, Jupiter Exchange received airdrops worth upwards of $10,000. These efforts have been pivotal in drawing an influx of capital, further energizing the ecosystem.

Mr. Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem Ind, said that Solana’s recent 16% price increase underscores its robust position as a leading cryptocurrency, firmly placing it in the top five by market cap. This surge is further bolstered by the SEC’s recent decision to exclude Solana from its securities classification in the Binance lawsuit, signaling a notable shift in regulatory perspectives. Industry experts anticipate that Solana could reach a price target of $200 by late 2024 and potentially exceed $300 by 2025, reflecting heightened confidence in its future potential.He added that despite a steep decline of over 20% in the past week due to shifting market sentiment, Solana has rebounded by 18%, testing resistance at $140 amid a broader market recovery. The recent $17.07 million in SOL futures liquidations, including $7.25 million from long positions and $9.83 million from short positions, highlight ongoing volatility. However, Solana’s strong performance in the decentralized finance (DeFi) sector, where it has outpaced Ethereum in trading volume and boasts over $4.4 billion in total value locked (TVL), provides a solid foundation. He added that the anticipated approval of a Solana ETF, and successful airdrops have further bolstered its market attractiveness. Despite facing challenges related to scalability and decentralization trade-offs, Solana’s high-speed transactions, low costs, and strategic endorsements, such as those from Hamilton Lane, underscore its credibility and potential. As regulatory landscapes and market conditions evolve, Solana remains a compelling option for investors seeking to capitalize on emerging opportunities in the blockchain space.

What Does the Future Hold for Solana? As we explore the prospects of Solana, it’s imperative to balance our perspective by considering both the bullish and bearish viewpoints:

The Bull Case Like many up-and-coming blockchain platforms, Solana’s success is often viewed through the lens of its comparison to Ethereum, which leads the category for blockchain smart contract platforms. Ethereum’s success formula—lowering barriers to entry and fostering a thriving community—suggests a bullish outlook for Solana as it continues to carve out its niche in the competitive blockchain space.

The Bear Case However, it’s crucial to consider the challenges and trade-offs that have accompanied Solana’s growth. When considering the blockchain ‘trilemma,’ which refers to the challenge of achieving a balance between scalability, security, and decentralization in a blockchain network, it is clear that Solana has sacrificed decentralization for scalability.

The proliferation of Layer-2 solutions on Ethereum addresses many of the criticisms against Ethereum’s scalability and throughput, offering a counterpoint to the necessity of Layer-1 solutions like Solana. Furthermore, Ethereum’s successful transition to proof-of-stake, known as ‘The Merge,’ exemplifies its ability to overcome significant challenges.“While Ethereum has managed to navigate difficult engineering and public perception challenges like ‘The Merge’ to Proof-of-Stake, Solana’s relatively short operating history has yet to see its leadership tested similarly,” Tan says. Uncertainties surround Solana’s capacity to navigate future challenges, particularly in an environment where its architectural compromises could be tested against the evolving demands of the blockchain market. The future outlook for Solana contains both promise and potential hurdles. The bullish case rests on its ability to captivate the market’s imagination and emulate Ethereum’s successful growth strategy. Conversely, the bearish perspective raises important questions about the sustainability of its architectural choices and untested leadership in the face of potential challenges.

Solana Price Prediction: According to the Binance consensus rating of 384 users, the current sentiment is bullish. Gracy Chen, chief executive officer of Bitget, said that the price of Solana may have a relatively negative impact in the short term in the next one or two years. Since the CFTC is investigating Jump crypto, Solana is deeply tied to Jump, and the possibility of ETF approval is low; she thinks Solana will have a negative impact in the next two years.

“With the boost of abundant liquidity brought by interest rate cuts in the coming period, there will be a possibility of breaking the previous high. Still, the resistance will be relatively large, thinks Chen. Sathvik Vishwanath, co-founder and chief executive officer of Unocoin, says that, despite the current market volatility and the slight drop in the price of Solana, the crypto shows significant growth potential. If bullish trends and network growth continue, SOL could reach $500 by the end of the year 2024. However, if market sentiment does not improve, it may settle at $90. Historical data shows resilience; SOL price is up 33,446.56% from its all-time low. Significant events like the Bitcoin Halving in April 2024 and a potential altcoin season could further increase the value of SOL. Long-term forecasts predict that SOL will peak at $1,672 by 2030.

According to him, the price predictions for Solana in the coming years: 2024: Low: $90, High: $500 2025: Low: $209.91, High: $750 2026-2030: highs ranging from $886.35 to $1,672.15

Is Solana a Good Investment? The investment potential of Solana is a topic of considerable debate within the cryptocurrency community. With its innovative technology and active ecosystem, Solana has captured the attention of investors looking for the next big opportunity in the blockchain space. This anticipation of future product releases indicates an ongoing effort to innovate and expand Solana’s reach, contributing to its appeal as a potentially valuable investment. Whether Solana is a good investment depends on several factors, including one’s appetite for risk, investment horizon, and belief in the platform’s technological and market potential. While Solana presents a compelling case with its innovative features and community enthusiasm, investors must also weigh its challenges in achieving long-term dominance. As with any investment in the volatile cryptocurrency market, thorough research is critical, and it is always recommended that you speak with a financial advisor before making a decision. This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class. Cryptocurrency is unregulated in Australia and your capital is at risk. Trading in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorized financial advisor.

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Analyst Tells Forbes Bitcoin Could Hit $1,000,000 as Soon as Next Year

Bitcoin (BTC) has endured a tumultuous period over the past few weeks, with its value experiencing significant swings. After peaking at around $70,000 in July, the cryptocurrency plunged below $48,000 by August 5th. However, it has since demonstrated signs of resurgence, rebounding to approximately $62,500. Several analysts are making bold predictions about Bitcoin’s future trajectory amid these volatile shifts. In a recent interview with Forbes, Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, presented an eye-catching forecast, suggesting that Bitcoin could potentially hit $1,000,000 by 2025. While this prediction might seem audacious, Maradiya believes several factors could drive Bitcoin towards this milestone. Notably, the pundit pointed to the increasing adoption of Bitcoin, the approval of Bitcoin ETFs in various countries, and rising concerns over fiat currency devaluation as key drivers. The pundit also emphasized the recent halving event on April 20, 2024, which reduced the rate at which new Bitcoins are created, as another factor influencing his predictions. Historically, Bitcoin halvings have led to significant price increases due to reduced supply.

“Predicting a $1,000,000 Bitcoin might appear overly optimistic, but the increasing institutional interest and regulatory support for cryptocurrencies make this scenario plausible,” Maradiya stated. Elsewhere, former BitMEX CEO Arthur Hayes recently suggested that Bitcoin might spike to $1,000,000 in the current market cycle. In an interview with DL News last week, Hayes attributed this potential surge to global financial shifts and high debt levels. “The Bitcoin price in this cycle is going to go very, very high. Hundreds of thousands of dollars, maybe $1 million.” Said, Hayes. “We’re entering a period of significant change in the global monetary system.” Elsewhere, Rajagopal Menon, Vice President of India’s largest crypto exchange, WazirX, commented on Bitcoin’s potential. Menon believes Bitcoin could initially target between $90,000 and $100,000 before the year ends. “The $100,000 mark represents a significant psychological barrier,” Menon said. “Bitcoin may experience substantial resistance around this level, which could affect its short-term performance.”

Veteran trader Peter Brandt has also echoed a bullish outlook, predicting that Bitcoin could reach $150,000 by the end of 2025. Like Maradiya, Brandt’s forecast is based on historical trends associated with Bitcoin’s halving cycles, often leading to bullish market phases. However, Brandt also cautioned that there is a 50% chance Bitcoin might drop below $40,000 before the effects of the latest halving fully materialize. Bitcoin traded at $59,234 at press time, reflecting a 1.03% drop over the past 24 hours.

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Bitcoin Will Hit $1,000,000 as Soon as Next Year

In a recent interview with Forbes, Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, presented an eye-catching forecast, suggesting that Bitcoin could potentially hit $1,000,000 by 2025.

www.cifdaq.com

Link: https://rumble.com/v5atpcq-bitcoin-will-hit-1000000-as-soon-as-next-year.html

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Why is the cryptocurrency market going down in 2024? – Forbes Advisor INDIA

The cryptocurrency market has seen a slowdown, with the total market cap falling from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. The market volume in the last 24 hours has dropped by 13.13%. Bitcoin, the largest cryptocurrency, is currently trading at $55,013, down 17.37% in the last seven days and up 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down 26.53% in the last seven days. The cryptocurrency market plunged yesterday, losing nearly $367 billion in 24 hours. Major cryptocurrencies like Bitcoin and Ethereum saw substantial declines as investors sold risky assets.

How is the cryptocurrency market performing? The cryptocurrency market is going through a major pullback phase, with Ethereum and Bitcoin recording sharp declines. Key market drivers include political uncertainty, geopolitical tensions, economic data, and ETF performance.

CoinSwitch Marketplace Office said that after experiencing one of the biggest cryptocurrency crashes of all time – BTC lost over $250 billion in market cap in a single day – the world’s largest cryptocurrency found support just below $50,000 and rebounded over 14% to trade around the $56,000 mark. The crash was mainly triggered by the escalation of the war between Israel and Iran in the Middle East and the Japanese stock market recording the biggest single-day crash since 1987. He added, however, that the Nikkei index jumped more than 10% today – after losing 12% yesterday – to recoup most of its losses, which could trigger a fresh rally in global stock markets. Given that this crash can be attributed to the Bank of Japan’s rate hike, it remains to be seen whether this surge will continue.

Mr. Sathvik Vishwanath, Co-Founder & CEO of Unocoinsays the cryptocurrency market is facing its biggest decline since the FTX exchange crash in November 2022, which is in line with the overall decline in the global market. One of the key factors behind this decline is the easing of the yen-dollar swap. Traders typically borrow in low-interest currencies like the yen and invest in higher-yielding assets. He also added that the recent interest rate hike by the Bank of Japan made these trades less profitable, leading traders to close their positions. This caused a massive sell-off in both the stock and crypto markets. Over $1 billion was liquidated in the crypto sphere, mostly from long positions, further accelerating the market’s downward trajectory.

Mr. Himanshu Maradiya, Founder & Chairman, CIFDAQ Blockchain Ecosystem Ind Ltdsaid that “the recent sharp decline in the cryptocurrency market, with major assets like Bitcoin and Ethereum down more than 10%, can be largely attributed to the Bank of Japan’s decision to raise interest rates. This decision had a significant impact on carry trades, a strategy where traders borrow in low interest rate environments, such as in Japan, and invest in higher-yielding assets, including cryptocurrencies.

The Bank of Japan’s first interest rate hikes in 17 years have caused the yen to rise, leading to an “unwinding of carry trades.” In addition, rising geopolitical tensions and growing concerns about a potential recession in the United States have further exacerbated the decline in cryptocurrency markets. The combination of these factors has created a challenging environment for cryptocurrencies, which are particularly sensitive to changes in investor sentiment and macroeconomic conditions. He added that the current correction phase, driven by the Bank of Japan’s monetary policy shift and the resulting appreciation of the yen, highlights the interconnected nature of global financial markets. Despite short-term volatility, the fundamental value propositions of cryptocurrencies remain strong. As the macroeconomic landscape stabilizes, we expect the cryptocurrency market to recover and grow steadily.

Bitcoin, the largest cryptocurrency by market cap, has fallen by nearly 17.38% in the last seven days and is trading at $55,004 as of August 6, 2024. On the other hand, Ethereum has fallen by nearly 26.85% and is trading at $2,447.Bitcoin’s price has plummeted, dropping below $50,000 on Monday, while Ethereum has fallen by nearly a third to $2,340 over the past week. Altcoins haven’t escaped the rout: Cardano has plunged by about 27%, Solana by 36%, Dogecoin by 34%, XRP by 23%, Shiba Inu by 30%, and BNB by 25.7%. The cryptocurrency massacre appears to be part of a broader flight to safety. After last week’s worse-than-expected unemployment report, the economy has entered a technical recession, according to a measure called the “Sahm Rule.” It marks the start of a recession when the three-month average of the unemployment rate increases by at least half a percentage point from its lowest point last year. In response, the S&P 500 fell nearly 2%, the Nasdaq fell 2.5% and the Dow fell 1.5%. However, given the bloodbath that took place overseas on Monday, this could be just the beginning of a broader rout.

Is investing in cryptocurrencies safe? The cryptocurrency market has seen the good and the bad of the market, whether it is the post-Russia-Ukraine effects, the Terra-Luna crash, the collapse of FTX or the tightening of tax regulations, it has witnessed the most violent storms in recent years. The year 2023 has given a new beginning to the cryptocurrency world, showing positive signs of recovery. Cryptocurrency investors believe that in situations like this, investing in stable digital currencies like Bitcoin and Ethereum in SIP format is a safe choice. Cryptocurrency experts consider that in the overall portfolio, investors should simply consider investing only 5% exposure to cryptocurrencies. The most important thing is to invest only a tiny amount and not all your savings, as the market is very volatile and there are chances that you might lose all of it.

Steps to Invest in Indian Cryptocurrency Market

Step 1: Select the best cryptocurrency: Choose a cryptocurrency that you want to invest in. Like any other asset class, cryptocurrency has its own fundamentals and different blockchain networks supporting them, intrinsic value, and mining techniques. Make sure to do your research and analysis before investing as the cryptocurrency market is highly volatile. Choose an exchange that is registered with the FIU. Step 2: Select a Cryptocurrency Exchange: After choosing a cryptocurrency, it is time for you to find a perfect cryptocurrency exchange for you. It is necessary to have a working account in a cryptocurrency exchange that will help you buy and sell cryptocurrencies. Check out our article on the best cryptocurrency exchanges in India. Step 3: KYC: Once you have selected a cryptocurrency exchange platform, you need to register by providing personal information such as your name and address and complete all the KYC formalities. After creating your account, you are ready to invest in cryptocurrency. Step 4: Choose your payment method: To buy cryptocurrency, you need to select a payment option that suits you. You can choose peer-to-peer payment method, bank transfer, online payment method, or a crypto wallet. Step 5: Buy Cryptocurrency: After adding funds to your account, you can easily buy the cryptocurrency of your choice. Just tap on the “buy” tab and you can easily buy the cryptocurrency of your choice. Step 6: Storage: After purchasing cryptocurrencies, remember to store your currencies safely as they are not regulated and you need to keep them in a safe place as there is always a risk of hacking or theft. You can check out the cryptocurrency storage options here. Step 7: Selling cryptocurrencies: This is as important as buying them because it allows you to make money by investing. You can sell the cryptocurrency in the same way you bought it, just click on the “sell” tab in your wallet. You can sell your cryptocurrency investment completely or partially depending on your choice, but remember to account for your profits in due time.

Conclusion It is wise to observe the cryptocurrency market with caution in an uncertain environment and slow recovery of macroeconomic situations in the world. Do not make rash decisions as this is the right time to observe the market closely and analyze it.We may never know, but observation will eventually help investors make smart decisions and might have a preferred digital asset at a fair value, once the chaos situation has completely subsided.

www.cifdaq.com

Link :

[cryptokid3]

Meta AI predicts SHIB price for 2025

Although Shiba Inu (SHIB) has had a rough couple of months, marred by volatility and price declines that have seen it drop over 20% in the last 30 days, a newly released artificial intelligence (AI) assistant is fairly optimistic regarding its price performance in 2025. Indeed, Finbold has asked the AI bot created by Meta Platforms (NASDAQ: META), called Llama 3.1I, to provide a potential price range for the presently 13th-largest asset in the cryptocurrency sphere by market capitalization from the viewpoint as of August 13.

Meta AI’s SHIB price prediction 2025 As it happens, Meta’s cutting-edge AI assistant has offered several price prediction targets for Shiba Inu in 2025, with the average predicted range between $0.00002 and $0.00012, which would represent a 47.38% or a whopping 784.3% increase from its present situation. More specifically, among the sources that Meta AI used to draw its SHIB price prediction conclusions is Changelly, which Llama 3.1 said “predicts a minimum SHIB price of $0.000024 and a maximum price of $0.000028 in 2025,” whereas CoinCodex “estimates a price range of $0.00002527 to $0.000120.” Furthermore, the AI model also referred to predictions by crypto analysts, including Utkarsh Tiwari, the Chief Strategy Officer at crypto exchange KoinBX, and Himanshu Maradiya, founder and chairman at AI-powered blockchain ecosystem CIFDAQ. “Additionally, experts such as Utkarsh Tiwari predict that SHIB could reach a price range of $0.00003 to $0.0000456 in 2025, assuming favorable market conditions and continued development within its ecosystem. Another expert, Himanshu Maradiya, predicts a more realistic price range of $0.0001 to $0.0003 for SHIB in 2024-2025.”

Shiba Inu price analysis For the time being, Shiba Inu is changing hands at the price of $0.00001357, which represents a 1.78% drop on the day, an accumulated advance of 1.48% on its weekly chart, and a 21.66% loss across the past month, according to the most recent data retrieved on August 13.It is also worth noting that the recent Shibburn data shows a massive amount of SHIB burned on August 12, amounting to over 40 million Shiba Inu tokens, which represents a remarkable 8,007.8% increase, reflecting the community’s growing efforts to reduce the overall supply and bring the price up.All things considered, SHIB could, indeed, follow the path set by Meta AI, as long as the indicators and developments remain favorable for its price. That said, doing one’s own research is critical, as things in the crypto sector can take an unpredicted turn.

www.cifdaq.com

[cryptokid3]

Balancing centralized and decentralized economies: Journey through financial evolution

The integration of centralized and decentralized systems will play a pivotal role in shaping the next chapter of our economic story. This journey requires a thoughtful approach. In the grand tapestry of human progress, few threads are as intricate and transformative as the evolution of economic systems. Imagine a world where financial systems are as diverse and dynamic as the cultures that shape them—where traditional centralized structures coexist with innovative decentralized frameworks. This is not a far-off fantasy but a reality that is gradually unfolding before our eyes.

Age of centralization Picture the centralized economy as a grand old library, its towering shelves lined with meticulously organized books. Each volume represents a piece of the financial puzzle, carefully cataloged and controlled by the librarians—financial institutions and governments. This system has served us well for centuries, offering stability, structure, and a familiar order to our economic interactions. Centralized economies are characterized by their centralized control, where a few key institutions wield significant influence over the financial landscape. This structure allows for coherent regulation, standardized procedures, and a degree of predictability that has underpinned economic growth and stability. Central banks, government agencies, and large financial institutions play crucial roles in ensuring economic stability through policies, regulations, and interventions. However, as the pages of this story turn, cracks in the old library's foundation begin to appear. The rigidity of centralized systems can sometimes stifle innovation, limit access, and create barriers for those outside the traditional economic sphere. It’s akin to a library where not everyone can access the books they need, despite the orderliness of the shelves. Centralized systems often face challenges such as bureaucracy, inefficiencies, and susceptibility to corruption, which can hinder progress and adaptability in a rapidly changing world.

Rise of decentralization Enter the world of decentralized economies—a realm akin to a vibrant marketplace, bustling with activity and brimming with possibilities. Here, the rigid structures of the old library are replaced by a dynamic, open bazaar where every participant has a voice and a stake. Decentralized economies leverage blockchain technology and digital innovations to create a more inclusive and transparent financial environment. In this marketplace, there are no gatekeepers; instead, transactions and interactions are governed by algorithms and smart contracts. The emphasis is on accessibility, efficiency, and empowerment. Blockchain technology enables peer-to-peer transactions without the need for intermediaries, reducing costs and increasing transaction speeds. Imagine a bustling street market where people exchange goods and services without the need for intermediaries. Transactions are direct, and the marketplace is ever-evolving, with new vendors and offerings emerging continuously. This is the essence of decentralization—breaking down barriers and allowing for a more fluid and democratic exchange of value. Decentralized systems can foster innovation and creativity, as participants have the freedom to develop new solutions and services without centralized approval or control.

Balancing act The real challenge and beauty lie in balancing these two distinct yet complementary economic paradigms. Centralized systems offer stability and a proven track record, while decentralized systems promise innovation and inclusivity. The key is not to choose one over the other but to find a harmonious integration where both can thrive.

Intersection of two worlds At the intersection of these two worlds lies a dynamic and evolving landscape. This is where the strengths of centralization meet the innovations of decentralization, creating a hybrid model that harnesses the best of both. It is in this hybrid model that we find the potential for a truly inclusive and efficient financial system. Centralized systems can provide the regulatory framework and stability necessary for large-scale operations, while decentralized systems can introduce the flexibility and user-centric innovations that drive inclusivity and engagement. Together, they form a balanced ecosystem that can adapt to changing needs and emerging opportunities. A hybrid model can leverage the strengths of centralized oversight for security and stability, while harnessing the innovative potential of decentralized technologies to enhance efficiency and user experience.

Challenges and opportunities There are some challenges that need to be overcome.

Security vulnerabilities One of the significant challenges in the decentralized landscape is security. Decentralized platforms, particularly those based on blockchain technology, are still in their nascent stages. This immaturity often results in vulnerabilities within complex smart contracts, leading to hacks and exploits. While centralized systems are not immune to security breaches, they typically have more established protocols and regulatory oversight to mitigate such risks. Security measures in decentralized systems need to evolve rapidly to address these vulnerabilities and protect users.

Regulatory challenges Regulation is a double-edged sword in both centralized and decentralized economies. Centralized systems benefit from a well-established regulatory framework that provides a safety net for users and ensures market stability. However, over-regulation can stifle innovation and slow down progress. On the other hand, decentralized systems often operate in a regulatory gray area, which can lead to uncertainty and increased risk for participants. Finding a balanced regulatory approach that encourages innovation while protecting users is crucial. Governments and regulatory bodies need to work collaboratively with industry stakeholders to develop frameworks that balance innovation with security and compliance.

User protection In centralized systems, user protection mechanisms such as deposit insurance and fraud protection are well-established. These protections offer a sense of security to participants. In contrast, decentralized systems place the onus of security and responsibility on the users themselves. This can be empowering but also risky, as users must manage their private keys and understand the intricacies of smart contracts. Education and user-friendly interfaces are essential to bridge this gap. Enhancing user protection in decentralized systems through better security practices and educational initiatives is essential for broader adoption.

Smart contract issues The foundation of decentralized systems is the smart contract—self-executing contracts with the terms of the agreement directly written into code. While revolutionary, they are not without flaws. A single bug or vulnerability in a smart contract can lead to significant financial losses. Ongoing development, rigorous testing, and peer reviews are necessary to enhance the reliability and security of these contracts. Establishing industry standards and best practices for smart contract development can help mitigate risks and improve trust in decentralized applications.

High volatility The volatility of cryptocurrencies and decentralized assets is a well-known challenge. External factors such as regulatory news, geopolitical events, and market sentiment can lead to rapid price fluctuations. Centralized systems, with their controlled environments, tend to exhibit more stability. However, they can also be affected by economic policies and global events. Balancing the stability of centralized systems with the dynamic nature of decentralized assets is essential for a robust economic ecosystem. Strategies such as stablecoins, which are pegged to stable assets, can help mitigate volatility and provide more predictable value in decentralized economies.

Looking ahead As we look to the future, the integration of centralized and decentralized systems will play a pivotal role in shaping the next chapter of our economic story. This journey requires a thoughtful approach, one that respects the strengths of each system while embracing the possibilities of their convergence. The balance between centralized and decentralized economies is not a simple choice but a nuanced and dynamic process. It is a journey of continuous adaptation and innovation, where the goal is to create a financial ecosystem that is robust, inclusive, and responsive to the needs of all participants. As we navigate this evolving landscape, the insights of the past and the innovations of the present will guide us toward a more balanced and prosperous future.

Embracing middle path To achieve this balance, stakeholders in both centralized and decentralized systems must collaborate and learn from each other. Centralized institutions can adopt decentralized technologies to enhance efficiency, transparency, and user engagement. Meanwhile, decentralized platforms can incorporate elements of centralized oversight to ensure security, compliance, and user protection. This collaborative approach can lead to a more resilient and adaptable financial ecosystem.

Case studies and real-world applications There are several examples. Some of them are:

Central Bank Digital Currencies (CBDCs) One of the most promising examples of this balance is the development of Central Bank Digital Currencies (CBDCs). These digital currencies, issued by central banks, leverage blockchain technology to offer the benefits of decentralization while maintaining the regulatory oversight and stability of centralized systems. CBDCs can enhance financial inclusion, reduce transaction costs, and improve the efficiency of monetary policy implementation. Countries like China, Sweden, and the Bahamas are already exploring or implementing CBDCs, showcasing the potential of a balanced approach.

Decentralized Finance (DeFi) and Traditional Finance (TradFi) integration The integration of Decentralized Finance (DeFi) and Traditional Finance (TradFi) is another compelling example. DeFi platforms offer innovative financial services such as lending, borrowing, and trading without intermediaries, leveraging smart contracts and blockchain technology. However, the integration of DeFi with traditional financial systems can enhance liquidity, stability, and user trust. Hybrid platforms that bridge DeFi and TradFi can provide users with the best of both worlds—innovative financial products and the security of regulated environments.

Conclusion In conclusion, the evolution of economic systems from centralized to decentralized and the ongoing efforts to balance them is a testament to human ingenuity and adaptability. As we continue to explore this uncharted territory, the lessons learned from both systems will be invaluable. The future of finance lies not in choosing sides but in integrating the best of both worlds to create an economic landscape that is fair, inclusive, and resilient.

Additional insights The potential for cross-border transactions and remittances in a balanced economic system is immense. Decentralized systems can facilitate faster and cheaper international money transfers, bypassing traditional banking intermediaries. This can significantly benefit individuals and businesses in developing countries, enhancing financial inclusion and economic growth. -- Himanshu Maradiya, Founder and Chairman of CIFDAQ.

www.cifdaq.com

[cryptokid3]

Shiba Inu’s Six-Fold Return: Analysts Hopefully Weigh In on 2024 Possible Surge

Shiba Inu has faced a rough patch recently, struggling to recover from its latest collapse. Currently, the meme coin hovers around $0.00001409, marking a modest 2% increase in the last 24 hours. However, after plummeting to $0.00001087 last Monday, Shiba Inu has rebounded by an impressive 29.62%. Despite this, the crypto community remains divided on where SHIB’s price could go by year-end. Himanshu Maradiya, chairman of the CIFDAQ Blockchain Ecosystem, told Forbes that Shiba Inu has the potential to reach the $0.0001 price region this year. If achieved, this would represent a remarkable 610% return on investment for those buying in at today’s price of $0.00001409. Maradiya suggests that the coin could deliver even greater returns in 2024, with an upper target of $0.0003—translating to a staggering 2,030% growth. Maradiya’s outlook has garnered support from some analysts, who believe SHIB could break new ground this year. However, others remain skeptical, arguing that such targets may be overly optimistic given the current market conditions.

Shiba Inu’s Divergent Views: A Bullish Push or Bearish Retreat? Utkarsh Tiwari, an executive officer at KoinBX, takes a more conservative stance. While acknowledging that bullish sentiment could drive SHIB to $0.000066 by year’s end, Tiwari warns of the potential for a bearish downturn, which could push Shiba Inu below its current five-zero threshold. Echoing this cautious perspective, analysts at Telegaon predict that Shiba Inu might only reach a maximum of $0.0000601 in 2024. This outlook is reinforced by the fact that SHIB approached this price level in March, when it briefly surged above $0.000045, only to retreat significantly. Changelly exchange analysts are even less optimistic, suggesting that Shiba Inu may not surpass $0.0000187 this year. As SHIB struggles to regain momentum, these differing predictions highlight the uncertainty surrounding its future performance. While the potential for a six-fold return exists, investors should weigh these varied outlooks carefully before making their move in the volatile world of cryptocurrency.

www.cifdaq.com

Link: https://www.tronweekly.com/shiba-inus-six-fold-analysts-weigh-2024-surge/

[cryptokid3]

Developments Surrounding Shiba Inu And Pawfury

Pawfury (PAW): A New Star in the Crypto Market The chairman of the CIFDAQ Blockchain Ecosystem, Himanshu Maradiya, foresees the meme coin Shiba Inu reaching a price of $0.0001 in 2024, a significant increase of 696% from its current price of $0.00001436. In this evolving crypto market, a new player is garnering attention—Pawfury (PAW). This presale project is catching the eyes of investors with its promise of high returns and relatively predictable patterns, providing a refreshing alternative to more established tokens in the highly volatile cryptocurrency landscape.

Innovative Features and Community Support Pawfury (PAW) has quickly become a standout in the cryptocurrency market. Its innovative features, strong community backing, and practical utility present it as a compelling investment option. The presale dynamics of Pawfury offer substantial benefits to its holders, with the potential for significant gains as adoption increases. The robust support from its community and the ongoing development efforts ensure Pawfury (PAW) remains at the cutting edge of the crypto market, drawing investors looking for high returns in a rapidly evolving environment.

Investor Rewards and Multi-Stage Approach Pawfury’s presale is structured to ensure fair token distribution and maximize investor benefits through a multi-stage approach. Early participants enjoy lower token prices, which is facilitated by an incremental pricing model that not only fuels excitement but also attracts capital, enhancing liquidity and market stability. To celebrate its ongoing success, Pawfury offers a 10% extra bonus on the first purchase using the promo code “EXTRA10X” for a limited time, adding an extra incentive for early investors to join.

Expert Predictions on SHIB’s Trajectory Maradiya’s bullish outlook on Shiba Inu suggests that the meme coin could offer more substantial returns by the end of the year, with a possible upper target of $0.0003 by 2025. In recent days, Shiba Inu has shown a modest price increase, up by 2.49% in the last 24 hours, as it recovers from a recent downturn. After dipping to $0.00001087 last Monday, Shiba Inu has rebounded by nearly 30%, mirroring the broader crypto market’s sell-off last weekend that pushed Bitcoin below $50k and Ethereum under $2,500.

Technical Analysis: SHIB’s Moving Averages and Potential According to TradingView data, Shiba Inu’s moving averages could be a critical factor, as a break and close above these levels could pave the way for a rally towards $0.000020. This movement would indicate a rejection of lower price levels by the market. Conversely, if the SHIB/USDT pair falls sharply from the moving averages, it would signal persistent negative sentiment, with traders selling during rallies. The bears may then attempt to drag the price down to $0.000010.

Forex Market Implications For Forex and crypto traders, the developments surrounding Shiba Inu and Pawfury (PAW) offer a glimpse into the innovative potential within the broader financial landscape. As Forex markets continue to intersect with cryptocurrency dynamics, understanding these trends is crucial. Forex traders can leverage the information on emerging tokens like Pawfury to diversify their portfolios and hedge against market volatility. Furthermore, the sophisticated approaches used in Pawfury’s presale and the expected rise of Shiba Inu underscore the need for integrating cryptocurrency analysis into Forex trading tactics. Staying updated on these projects and their effects allows Forex traders to identify potential opportunities across both the crypto and Forex markets, enhancing their trading strategies in an ever more interconnected financial environment.

www.cifdaq.com

Link: https://www.forexer.com/developments-surrounding-shiba-inu-and-pawfury

[cryptokid3]

What is Causing the Decline in the Crypto Market in 2024? – Forbes Advisor INDIA

The cryptocurrency market has recently experienced a significant downturn, with the total market capitalization dropping from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. This represents a substantial decrease in value, indicating a challenging period for investors in the crypto space. The market volume has also fallen by 13.13% in the last 24 hours, reflecting a lack of confidence and increased selling pressure. Bitcoin, the largest cryptocurrency, is currently trading at $55,013, which is a 17.37% decrease over the past seven days. However, there was a slight increase of 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down by 26.53% in the last seven days. These price movements highlight the volatility and unpredictability of the cryptocurrency market.

The recent plunge in the cryptocurrency market can be attributed to various factors, including political uncertainty, geopolitical tensions, economic data, and ETF performance. CoinSwitch Markets Desk reported that the market saw one of the biggest crashes in crypto history, with Bitcoin losing over $250 billion in market cap in a single day. This sharp decline was triggered by events such as the Middle East escalations and the Japanese stock market crash. Experts in the field, such as Sathvik Vishwanath, CEO of Unocoin, and Himanshu Maradiya, Founder of CIFDAQ Blockchain Ecosystem Ind Ltd, have pointed out that the recent decline in the crypto market is linked to the Bank of Japan’s decision to hike interest rates. This move has impacted carry trades, where traders borrow in low-interest-rate currencies and invest in higher-yielding assets like cryptocurrencies. The resulting sell-off in both stock and crypto markets has led to significant losses for investors. As of August 6, 2024, the Fear and Greed index stands at 34, indicating a fear state among investors. This sentiment is reflected in the price movements of major cryptocurrencies like Bitcoin and Ethereum, which have seen significant declines in value over the past week. Altcoins have also been affected, with many experiencing double-digit percentage drops.

In light of these developments, investors are advised to proceed with caution when investing in cryptocurrencies. The market’s volatility and sensitivity to external factors make it a risky investment option. However, some experts suggest that investing a small portion of one’s portfolio in stable digital currencies like Bitcoin and Ethereum could be a safer approach. For those looking to invest in the Indian cryptocurrency market, there are specific steps to follow. These include selecting the best cryptocurrency, choosing a reputable crypto exchange, completing KYC formalities, selecting a payment mode, purchasing cryptocurrency, storing it securely, and selling it when necessary. By following these steps and staying informed about market trends, investors can navigate the crypto space more effectively. In conclusion, the recent downturn in the cryptocurrency market serves as a reminder of the risks involved in this volatile asset class. It is essential for investors to exercise caution, conduct thorough research, and diversify their portfolios to mitigate potential losses. By staying informed and following best practices, investors can navigate the crypto market more effectively and make informed decisions about their investments.

www.cifdaq.com

Link: https://profitwise.news/2024/08/12/what-is-causing-the-decline-in-the-crypto-market-in-2024-forbes-advisor-india/

[cryptokid3]

Shiba Inu’s Price Could Achieve a Remarkable 696% Surge in 2024

The chairman of the CIFDAQ Blockchain Ecosystem, Himanshu Maradiya, believes that Shiba Inu could attain $0.0001 in 2024. This is a 696% surge from the current price of $0.00001436. According to Maradiya, the meme coin could deliver more substantial returns by next year. He highlighted that SHIB enthusiasts can hope for an upper target of $0.0003 by this year or, at most, 2025. In the past couple of days, Shiba Inu’s price has been lackluster as it navigates the recovery phase following a recent downturn. Shiba Inu’s current price shows a 2.49% increase over the last 24 hours. However, since its plunge to $0.00001087 last Monday, the meme coin has rebounded by almost 30%. This is because the entire crypto market experienced a sell-off last weekend, which briefly drove Bitcoin below $50k and Ethereum back below $2,500. As Shiba Inu continues its recovery, several experts are reviewing the potential future directions for the SHIB price in a less bearish market.

Shiba Inu has bullish signals Shiba Inu has retraced toward the moving averages, signaling that the bulls are attempting a comeback.According to data from TradingView, the moving averages could be defended since a break and close above them will open the doors for a rally to the breakdown level of $0.000020. Such a move would signal that the markets have rejected the lower levels. Assuming the SHIB/USDT pair turns down sharply from the moving averages, this will indicate that sentiment remains negative and traders are selling on rallies. The bears will then attempt to push the price down to $0.000010.

Some analysts are pessimistic about SHIB Meanwhile, Utkarsh Tiwari, an executive officer at the KoinBX exchange whom Forbes also interviewed, is less optimistic about Shiba Inu’s performance for the remainder of 2024. Tiwari argued that widespread bullish sentiment could drive SHIB to $0.000066 by the end of this year. Yet, he noted that bearish momentum could cause Shiba Inu to crack the five-zero threshold. Popular prediction outlet Telegaon shares this sentiment. Its analysts believe the meme coin may only hit a maximum of $0.0000601 in 2024. Notably, the meme coin came close to this price channel in March this year when it had a value above $0.000045. However, Shiba Inu is far from the region, and the price has dropped by 32%. On the other hand, analysts at Changelly Exchange highlighted that Shiba Inu may not surpass $0.0000187 this year.

www.cifdaq.com

Link: https://www.binance.com/en/square/post/12021751074545

[cryptokid3]

Analyst: Shiba Inu Poised to Skyrocket 696 Percent by 2024

The Shiba Inu (SHIB) token, has attracted significant attention in the crypto community due to its potential for substantial price movements. CIFDAQ Blockchain Ecosystem Chairman Himanshu Maradiya has made a bold prediction, suggesting that SHIB could reach the $0.0001 level by 2024. This ambitious target represents a 696 percent increase from the current price of US$0.00001436, attracting the interest of investors and enthusiasts.

Shiba Inu Ready to Take Off Maradiya's optimism doesn't stop there. He believes that SHIB can provide even greater gains, projecting a peak target of US$0.0003 by the end of this year or 2025 at the latest. Cryptopolitan reports that, this prediction comes as Shiba Inu price is in a recovery phase after a recent drop. Despite the less than satisfactory performance, Shiba Inu price has increased by 2.49 percent in the last 24 hours. This increase gives hope to investors who have seen the token's price drop to US$0.00001087 just last Monday. Since then, SHIB has recovered nearly 30 percent, mirroring a broader recovery in the crypto market after a major sell-off last weekend that briefly pushed Bitcoin below $50,000 and Ethereum below $2,500. As Shiba Inu continues to recover, experts have offered differing views on the token’s future. Some, like Maradiya, remain bullish, suggesting that Shiba Inu’s retracement towards a key moving average (MA) suggests that bulls are trying to make a comeback. TradingView data supports this view, showing that if SHIB can break and close above this MA, it could pave the way for a rally towards the $0.000020 level . This would be a strong signal that the market has rejected lower levels and is ready to move higher.

However, not all experts share this optimism. Utkarsh Tiwari, an executive at the KoinBX exchange, offered a more cautious perspective. In an interview with Forbes, Tiwari stated that while widespread bullish sentiment could push Shiba Inu to $0.000066 by the end of the year, the token could also face significant bearish pressure. He warned that this bearish momentum could cause Shiba Inu to fall below the critical five-zero threshold, a sentiment echoed by popular prediction platform Telegaon. Their analysts believe that the token may only reach a high of US$0.0000601 in 2024, highlighting that Shiba Inu came close to reaching this price in March when it briefly touched above US$0.000045, only to plummet by 32 percent since then. Adding to the differing views, analysts at Changelly Exchange have further reduced expectations. They predict that Shiba Inu may struggle to break above the $0.0000187 level this year, reflecting a more conservative view on the token's price movement.

www.cifdaq.com