Bitcoin

2021 promises a happy ending for Bitcoin Bulls. Here’s why

The volatility in the crypto market over recent weeks has been very concerning for Bitcoin’s (BTC )) bulls. Although there was a slight increase in BTC prices following the FOMC meeting of the US Fed, the overall trend is still bearish. We don’t expect this to change; in fact, 2021 could end on a choppy…

Pandemic fears remain ripe due to the widespread spread of Omicron
The supply chain crisis in the US and Europe continues to be high and could pose a threat to global economic recovery
There are talks of possible regulation in many countries

Data Source: Tradingview.com

Bitcoin Price Analysis and Prediction

BTC experienced a huge pullback this week. At the time of writing this post, the mega-cap coin was trading slightly above $45 000. It is nearly 30% down from its all-time high of slightly above $ 70 000. The technical charts are not very promising, at least until next year.

First, the price has already fallen below the 200-day exponential moving average. It is also very likely that in the coming days, BTC prices will test the 200-day simple moving average. We saw this type of trend in May 2021, and it took nearly 2 months for BTC to have some semblance of recovery. This rate could make it very difficult for BTC bulls.

Should You Buy Bitcoin

Bitcoin should be the first choice for investors. It may appear that the recent pullback gives investors a chance to take advantage of the rising trend and buy bitcoins. However, it is still early days. BTC could fall further before 2021 is out and some experts feel that the trend will continue into early 2022. It is better to wait until now.

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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