Bitcoin

Mike Novogratz believes $42,000 is the key level for Bitcoin bulls

Galaxy Digital CEO Mike Novogratz says the past year was great for crypto, with a boom for the DeFi and NFTs sector a big step in mainstream adoption. Novogratz believes any fresh sell-off for Bitcoin will find key support around $42,000. Galaxy Digital CEO Mike Novogratz is still bullish on Bitcoin. He said he doesn’t…

Galaxy Digital CEO Mike Novogratz says the past year was great for crypto, with a boom for the DeFi and NFTs sector a big step in mainstream adoption.
Novogratz believes any fresh sell-off for Bitcoin will find key support around $42,000.

Galaxy Digital CEO Mike Novogratz is still bullish on Bitcoin. He said he doesn’t worry about the flagship cryptocurrency or the market’s immediate outlook due to the large amount of capital being invested in the space.

The billionaire investor points out that the year is wrapping up and many investors are selling things, including crypto, which has really come off heavy from recent highs. He does not mind that digital assets are trading at a heavy rate right now, although it is a concern.

“It doesn’t worry me in the medium term because everywhere I go I see people getting ready to invest in the space,” Novogratz told Bloomberg TV.

According to the Galaxy Digital boss, the broader equity market is likely to continue being “messy” as the year draws to a close, probably extending to the first quarter of 2022. He sees crypto as a situation where prices will go “sideways down” as people either sell their properties or pay taxes.

Asked what he thought the floor would be for Bitcoin price, or what he would say is an entry point, Novogratz pointed to $42,000. According to him, this level or low 40s present a “pretty important level” that should hold, in case prices slip from current levels.

He notes that 2021 started with Bitcoin trading in the $30k region and the year has seen a lot of change in people’s mindset in the space. An example is his recent travel in the Middle East, where he says there two of the region’s “biggest pools of capital” have plans to get into Bitcoin mining.

Novogratz says over $30 billion in venture and that there’s so much money getting into crypto that it would make no sense to say prices are going to dip much lower than where the year started.

He also talked about the huge year for NFTs and noted that there could still be a lot of interest in this sector in the future.

Another development he sees doing well in 2022 is the decentralised finance (DeFi) space and Web 3.0. He notes that DeFi has an incredible amount of money in various projects. Web 3.0 is the “next iteration” of Internet many investors wouldn’t want to miss.

Bitcoin

Hong Kong Approves First Spot Bitcoin and Ethereum ETFs

The Hong Kong Securities and Futures Commission (SFC) has given the green light to several spot bitcoin and ethereum exchange-traded funds (ETFs), a move that signals substantial progress in the region’s crypto market, with approvals awarded to China Asset Management, Bosera Capital, and Hashkey Capital Limited…
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Bitcoin

Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto Miners

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Bitcoin hinders El Salvador’s credit talks with the IMF, the Paraguayan Senate issues a statement supporting bitcoin miners, and Venezuela unveils a crypto-linked corruption scheme…
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Bitcoin

Solana Records Daily New Addresses Milestone: Acquisition Trends in Shiba Inu and NuggetRush Hints At Price Outbreak

TLDR: The Solana network growth has continued, highlighted by a new daily new address milestone. Shiba Inu is in accumulation mode, with analyst Myles G Investments predicting a price pump to $0.000054. Investors have bought over 226 million NUGX tokens and cryptocurrency experts predict a price rally. The efficiency of Solana, as a high-performance network capable of processing…

TLDR:

The Solana network growth has continued, highlighted by a new daily new address milestone.
Shiba Inu is in accumulation mode, with analyst Myles G Investments predicting a price pump to $0.000054.
Investors have bought over 226 million NUGX tokens and cryptocurrency experts predict a price rally.

The efficiency of Solana, as a high-performance network capable of processing transactions swiftly and at lower costs, has once again been brought to the spotlight. The number of new addresses on the network has surged to a new ATH, showing its continuous expansion.

In other news, Shiba Inu has entered an accumulation phase, with the crypto analyst Myles G Investments suggesting that it could ignite a major rally. Meanwhile, NuggetRush is seeing bigger accumulation, with over 226 million NUGX tokens bought in its crypto ICO phase.

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Accumulation of NuggetRush (NUGX) surges amidst forecasts of price explosion

Over the last few weeks, NuggetRush (NUGX) has been experiencing a big accumulation spree, as some investors expect it to be the best crypto investment in 2024. In this period, over 226 million NUGX tokens have been snapped up, even as its price has gone up from $0.010 to $0.019.

NuggetRush has gained this much traction for being a unique crypto project that combines meme culture with GameFi and play-to-earn (P2E) elements. This new P2E game is centered around gold mining operations, allowing players to recreate the gold rush. Players will create and manage their mining operations as they go in search of gold.

The game is catching the attention of the crypto community due to offering numerous chances of earning like RUSHGEMs which are some of the coolest NFTs that can be staked for up to 20% APY. Further, with NuggetRush, players can exchange in-game asset rewards for real gold and money.

Being a blend of numerous elements and sources of income, NuggetRush is interesting for investors who are looking for growth and involvement. Based on the growth rate, some crypto analysts have forecast that NUGX could trade as high as $1.00 in 2024, which would make it one of the best cryptos to buy now.

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Crypto analyst forecasts price surge for Shiba Inu (SHIB) amidst accumulation trend

Like NuggetRush, Shiba Inu (SHIB) has entered an accumulation phase. This was highlighted by the popular crypto analyst, and YouTuber Myles G Investments in a recent X post.

Data from IntoTheBlock has confirmed this accumulation trend. The data has shown that large holders have continued to increase their balances, with inflows increasing by more than 5,100% over the past 30 days.

Based on this accumulation trend Myles G Investments has predicted that the price of the meme coin could increase in the coming weeks. The seasoned trader expects this eventual price surge to lead to new highs for Shiba Inu, with a price target at $0.000054.

Solana (SOL) daily active addresses surge to new all-time high

Like the rest of the crypto market, the price of Solana (SOL) has been trending higher in the past week, surging past $150. However, Solana has notched another important milestone as the number of daily activity addresses surged to a new yearly high.

New daily active addresses this week also set a new all-time high on a seven-day moving average basis of 717,000 plus. The rising fanaticism of the Solana meme coins is another factor that has impacted the growth of the network.

The increase in network activities reflects the increased need for Solana’s high-performance network. There is speculation that the network growth may result in a price increase. Therefore, SOL remains one of the top crypto coins, likely to chase the $200 level in the next few weeks.

Conclusion

The three altcoins, Solana (SOL), Shiba Inu (SHIB), and NuggetRush (NUGX), all have a strong positive sentiment, a situation that might lead to price increases over the next week. Although SOL and SHIB are included in top altcoins, NUGX has demonstrated the potential to outperform them in the 2024 bull cycle.

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