Bitcoin traders remain bullish over a BTC price breakout despite months of consolidation — and on-chain data supports them.
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Ethereum’s performance over recent months and years reveals a pattern of fluctuation that characterizes many digital assets. In the past week, Ethereum slightly declined by -0.28%, while the last three months saw an increase of +8.88%. The year-to-date growth stands impressively at +66.4%, with a six-month rise of +73.2% and a full year increase reaching +100.6%.
Specific monthly performances show varied outcomes: January barely moved with a -0.09% change, but February saw a significant jump of +46.4%. March added a +9.7% gain, whereas April experienced a drop of -17.4%. May demonstrated a strong recovery with a +24.9% increase.
These variations in Ethereum’s returns highlight the volatile nature of cryptocurrency investments. They illustrate how external factors, technological advancements, and market sentiments influence Ethereum’s value. For investors, these figures underscore the need for careful analysis and the potential rewards of staying informed about market trends to navigate the highs and lows of crypto investing.
Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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Peter Brandt, a seasoned market analyst, has recently outlined a strong case for Bitcoin as a bulwark against the potential collapse of fiat currencies. By analyzing historical data and technical patterns, Brandt suggests Bitcoin’s crucial role in the evolving financial realm. His insights point to a Bitcoin versus U.S. money stock (M1) ratio that still hasn’t surpassed its peak from December 2017, hinting at untapped growth potential for the cryptocurrency.
Drawing from the economic difficulties of the 1970s, Brandt compares current market trends with the Dow Jones Industrial Average during that decade’s stagflation—a period of inflation coupled with stagnant growth. He identifies an ‘inverted head and shoulders’ pattern in Bitcoin’s chart, a technical indicator typically seen as a sign of upcoming positive momentum. This pattern suggests that, similar to the Dow’s recovery post-stagflation, Bitcoin could be gearing up for a significant upward trajectory.
Despite some skepticism regarding the exact classification of this pattern, Brandt supports his bullish stance with thorough analysis. He believes this pattern could herald a major shift in how value and money are perceived, potentially leading to a redefinition of monetary systems with Bitcoin at the forefront of this transformation.
$1M – $10M MarketCap:
- Gold Fever Native Gold (NGL): 13%
- Exverse (EXVG): 11%
- Based Shiba Inu (BSHIB): 11%
- Imaginary Ones (BUBBLE): 8.8%
- Vtrading (VTRADING): 8.2%
$10M – $100M MarketCap:
- Super Trump (STRUMP): 68%
- Silly Dragon (SILLY): 34%
- SIX Network (SIX): 31%
- GAMEE (GMEE): 24%
- catwifhat ($CWIF): 21%
$100M – $1B MarketCap:
- Apu Apustaja (APU): 31%
- MAGA Hat (MAGA): 25%
- Renzo (REZ): 22%
- BounceBit (BB): 20%
- Tensor (TNSR): 19%
Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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Donald Trump has announced the acceptance of Bitcoin via the Lightning Network for his 2024 campaign donations, a first for any U.S. President. This collaboration with OpenNode and Anedot introduces a high-speed, cost-efficient method for political contributions, firmly aligning Trump with the future of digital currency in American politics.
During a recent speech at a Libertarian Party convention, Trump pledged to champion the rights of the nation’s 50 million crypto holders and even proposed commuting Ross Ulbricht’s sentence, advocating for progressive crypto policies. This move not only cements his stance on technological innovation but also aims to draw the significant crypto enthusiast voter base.
Contrastingly, President Biden recently vetoed legislation favorable to Bitcoin, which would have allowed financial firms to handle cryptocurrencies. This positions Trump as a proponent of financial freedom and technological advancement, challenging Biden’s more cautious approach to cryptocurrency.
Nigeria’s young resident population now feels more bewilderment due to the administration’s recent actions against Nigeria’s crypto industry.
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El Salvador’s pro-Bitcoin President Nayib Bukele began a new five-year term, with the crypto industry applauding his leadership as he positions the country as a “world leader.”
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The American Bankers Association claims that United States President Joe Biden’s move will “harm investors, customers, and ultimately the financial system.”
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The United States Securities and Exchange Commission “is serious about the destruction of digital assets,” according to cryptocurrency exchange Coinbase.
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In a historic move, Donald Trump has become the first American President to accept Bitcoin Lightning Network payments for campaign donations. The announcement marks a significant step in the integration of Bitcoin into mainstream politics, highlighting Trump’s commitment to advancing the future of Bitcoin in the United States.
Trump’s campaign has partnered with OpenNode, a leading Bitcoin and Lightning Network infrastructure provider, to facilitate these donations. Supporters can now contribute to Trump’s 2024 presidential campaign using Bitcoin via the Lightning Network, a technology designed to enable fast and low-cost transactions.
Last weekend, while speaking at a Libertarian Party…
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