shashankya

[shashankya]

Bitcoin Price Prediction : 2024

Latest Updates from Bitcoin

Several latest updates have come from Bitcoin Price Prediction 2024. Here are follows:

All-Time High Prices

On March 5, 2024, Bitcoin reached a new record price of $69,170.63.

It reached $70,083.05 on March 8, 2024.

It hit $71,627.95 on March 11, 2024.

Price Drop and Recovery

Before the Bitcoin halving in April, the price fell below $60,000 but went back up.

There was also an increase in transaction fees.

Spot Bitcoin ETFs Approved

On January 10, 2024, the U.S. SEC approved 11 spot Bitcoin ETFs.

These ETFs started selling on January 11, 2024.

There is a chance that other cryptocurrencies might get their own ETFs, too.

SEC Voting Details

SEC Chair Gary Gensler and Republican commissioners Hester Peirce and Mark Uyeda voted to approve the ETFs.

Democrats Jaime Lizarraga and Caroline Crenshaw voted against the approval.

Bitcoin prediction in 2024

CCN.com has given many predictions of Bitcoin for the year 2024. These are as follows:

January 2024

Bitcoin price hit $47,893.70 on January 9 after a fake news tweet.

Reached $48,969 on January 11 when ETFs came on the market.

Dropped below $40,000 later in January but started recovering in February.

February 2024

By February 9, Bitcoin’s price was about $47,125.

Went above $50,000 on February 12.

Reached $63,913 on February 28.

By February 29, the price was around $62,650.

March 2024

Hit an all-time high of $69,170.63 on March 5.

Recovered to $70,083.05 on March 8.

Reached a final all-time high of $73,750.07 on March 14.

Dropped to below $61,000 on March 20 and April 13.

Traded at around $66,500 on April 15.

April 2024

After the halving on April 19, Bitcoin recovered from below $60,000.

Traded at $63,172.40 on April 20.

By April 22, Bitcoin’s price was about $66,500.

This article also provides predictions for upcoming years, including 2025 and 2030.

2024 Predictions

According to LongForecast, by the end of 2024, the price of Bitcoin (BTC) will be $131,981. DigitalCoinPrice predicts a little greater amount, with Bitcoin expected to reach $138,310. On the other hand, PricePrediction.net suggests that there is a lower estimate, predicting that the price of Bitcoin in 2024 maybe $85,619. Various forecasts of the probable growth of Bitcoin’s price during the year are provided by these forecasts.

2025 Predictions

Bitcoin (BTC) is expected to trade at $155,659 in 2025, according to DigitalCoinPrice, while PricePrediction.net predicts a marginally lower price of $125,603. On the other hand, LongForecast has a more hopeful situation, predicting that BTC will reach $215,844 by the middle of the year. These predictions present different angles on how the price of bitcoin might change in 2025.

2030 Predictions

According to PricePrediction.net’s long-term projection, Bitcoin (BTC) will hit $837,155 in 2030. According to DigitalCoinPrice’s lower bitcoin forecast, Bitcoin might reach $487,252 by 2030. In the meantime, Bitnation projects that Bitcoin will trade at $562,177 at the beginning of the following decade. These predictions provide insights into potential long-term trends for Bitcoin’s price.

[shashankya]

Cup and Handle Pattern:2024

What is the Cup Handle Pattern?

The Cup and Handle Pattern is a candlestick chart pattern shaped like a cup with a handle. Conventional traders use it as a reliable breakout strategy.

It is a dependable indicator for traders to predict when prices may spike higher. They trade at the breakout point after waiting for the pattern to fully form and anticipating a significant upward rise. 

It is considered a strong indicator that prices may increase when combined with the concepts of supply and demand.

Analysis of Cup Handle Pattern 

The cup and handle pattern resembles a teacup on a chart. The handle is the smaller part below the cup.

The price first drops, then goes up, forming a "U" shape. After that, it drops a bit but not as much as before and then goes up again, making a smaller "u or v" shape. This pattern is seen as a good sign that prices might go up. Once the handle is finished forming, there's a point where prices could break and go even higher. That breakout point is when the handle is complete.

In easy words, we can also say that this pattern explains that the buyers are trying to take the price up by overpowering the sellers. 

The formation of the cup takes place when the price steeps low but also recovers to its same point. After the formation of the cup takes place then the price of the market tries to stoop low but it is not equivalent to the depth of the cup and a strong pullback makes the handle part.  

What is an Inverted Cup Handle Pattern?

The inverted cup and handle pattern is the opposite of the regular cup and handle. Instead of signaling an uptrend, it signals a downtrend. The “U” shape in the cup indicates the prices going high and low on the market. 

Then, a "U" shape forms, and the price reaches a new high by moving sideways. This new high of the pattern is slightly lower than the previous one, and then it again falls down, resulting in the “U or V” shape. This “U or V pattern is identified as a Handle. 

Analysis of Inverted Cup Handle Pattern

The inverted cup and handle pattern shows a potential shift in the direction of a trend. When it appears during a downtrend, it suggests that the downtrend might continue in the trading market. 

But if it shows up during an uptrend, it could mean the trend is about to change. Usually, when this pattern forms and there's a breakout, it often leads to a downtrend. Traders might take advantage of this by selling short.

[shashankya]

Intelligence Prime Capital: Fraud Detected!!

What is Intelligence Prime Capital?

Intelligence Prime Capital, a forex and CFD broker, has garnered attention in the online trading community due to its lack of regulation, questionable practices, and numerous negative reviews.

The establishment of the broker is unclear, and the broker claimed to be based in Ireland, but it is not true. The broker is not regulated by any authority and this shows a big red flag. The deposits and withdrawal methods are unclear and there have been widespread reports of withdrawal.

They provide fake registration details and a bogus address. Despite claiming to have established Intelligence Prime Capital in 2006, the company actually came into existence in June 2021. The identities of their CEO and COO are fabricated, with the roles played by paid actors. Additionally, they offer an unsustainable return on investment of up to 45% per month.

Is Intelligence Prime Capital Legit?

The broker’s website can be considered fraudulent, as it uses a free WordPress platform and lacks basic user experience features. The website claims that Intelligence Prime Capital is a Fintech Company registered in Canada and regulated by FINTRAC with registration number MSB registration number M21080237. You should go for brokers that are highly regulated such as FXRoad.

Eventhough it claims the regulation, the broker lacks a proper regulation. Under the guise of being based in Ireland, Intelligence Prime Capital Ltd. (Ireland / Canada) (www.iprimecapital.com) (now defunct) conducted business as an investment firm.

The company was an illegal player in the securities market, operating from a virtual address, and it plagiarised content from another forex broker’s website for its own.