New York, NY –News Direct– Finance News
Bitcoin has been on a nearly uninterrupted bullish run since the start of the year.
The world’s most popular cryptocurrency started off 2023 at a price of just over $16,600. The crypto market was in the depths of the crypto winter and many analysts predicted that the price wouldn’t recover anytime soon.
However, that all began to turn around in January. Bitcoin broke through the all-important price barrier of $20,000 and ended the month at $23,150. Bitcoin gained steadily through February, then exploded upwards in response to the failure of Silicon Valley Bank in March.
Bitcoin closed above $30,000 in early April, a huge milestone that represented a nearly 10-month high.
With all this positive movement, it’s no surprise that crypto bulls are starting to re-evaluate their price predictions. Three analysts in particular have suggested that Bitcoin could not only set a new all-time high this year, but actually reach $100,000, while AiDoge is another token attracting bullish sentiments.
Crypto analyst Charles Edwards, founder of Capriole Investments, recently took a closer look at Bitcoin’s chart and found a very bullish pattern developing.
The pattern, called a “bump and run,” occurs when an asset’s price drops significantly and then bumps back up to a trendline. Once the trendline is breached, the pattern predicts a sustained bullish movement.
Edwards suggests that Bitcoin breached its bump and run trendline in March, when the token reached the $22,000 price level. The bump and run pattern doesn’t specify how far Bitcoin could run, but Edwards thinks $100,000 is a potential price target.
Geoff Kendrick, a crypto analyst at British multinational bank Standard Chartered, argued in a recent report that Bitcoin could hit $100,000 by the end of 2024.
The report points to the recent turmoil in the banking industry as the catalyst for a surge in Bitcoin. At a time when trust in financial institutions is diminished, Bitcoin’s position as a trustless and scarce asset makes it especially valuable.
In addition, Kenrick says that stablecoins losing their pegs—something that has happened multiple times in the past year—benefits Bitcoin. He argues that investors will increasingly view BTC as the best store of value as opposed to stablecoins.
Adam Beck, the inventor of Hashcoin and the CEO of Blockstream, has long been bullish on Bitcoin. He predicted a price target of $300,000 during the last bull cycle, and while that didn’t turn out correctly, he re-issued a $100,000 price target last year in the midst of the crypto winter.
Beck’s bullish prediction for Bitcoin centers on the collapse of decentralized finance (DeFi), which encourages crypto users to move money out of Bitcoin and into riskier tokens. DeFi has been hit especially hard by the crypto winter, which proved how risky lending in the crypto industry can be.
For Beck, the true signal of Bitcoin’s rise to $100,000 will be the decorrelation of Bitcoin from the US stock market. There are signs of that happening now, as Bitcoin’s correlation with the S&P 500 is at its lowest level since 2021.
Even if these analysts’ rosy predictions about Bitcoin come true, investors only stand to earn a gain of around 3x from today’s BTC price. Considering the risk involved if the crypto winter isn’t over, that’s arguably not enough of a return for many investors to jump into Bitcoin.
However, there’s another coin offering a much greater potential return: AiDoge.
AiDoge is a new meme coin based on the wildly popular shiba inu meme. This is the same meme that spawned Dogecoin and Shiba Inu, which generated returns of 19,000% and 100,000%, respectively, during the last crypto bull market.
AiDoge is more than just another meme coin, too. It leverages advances in generative AI to help users create the next generation of viral memes.
With AiDoge, users just need to enter a prompt describing the meme they want to create. The AI algorithm will do the hard work of finding the perfect image and writing a meme-worthy caption to accompany it. Then users can share their newly minted memes with the world.
AiDoge rewards top-rated memesters with its $AI crypto token, which is also used to purchase credits to use the meme-generating AI algorithm. In addition, AiDoge supports $AI staking. Stakers earn daily credits to generate memes, which encourages long-term investing in the $AI token.
Investors have a chance to buy $AI at a discounted price before it hits major exchanges. The AiDoge presale is going on now and offers $AI at a price of only $0.0000264. The project team plans to list $AI at $0.0000336, which means early investors can lock in a 27% paper return.
The AiDoge presale has proven extremely popular, selling nearly $700,000 worth of $AI tokens in its first 5 days. The first stage of the presale is now more than 50% sold out. So, investors don’t have much time to join the presale before the price of $AI increases.
Visit AiDoge Presale
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
View source version on newsdirect.com: https://newsdirect.com/news/these-influencers-give-a-bitcoin-price-prediction-of-100k-but-aidoge-is-the-best-crypto-buy-today-156238712
Warren Buffett is known for holding onto his S&P 500 stocks forever. But that definitely wasn't the case recently.
Gary Shilling, a veteran economist and money manager who called the mid-2000s housing crash, says he's betting against stocks and commodities.
Brewer looks to win back its core buyers.
Mortgage rates continue to yo-yo wildly this week—with another dramatic drop Thursday. Plummeting a third of a percentage point, the 30-year mortgage average is at a 9-week low.
Warren Buffett, the venerated investor and CEO of Berkshire Hathaway, is set to amass over $6 billion in dividend income in the coming year, with a significant portion of this windfall emanating from just three stocks. This substantial income stream underscores the effectiveness of Buffett's investment strategy, one that favors profitability and long-term value. Top Dividend Earners in Buffett’s Portfolio Buffett’s predilection for dividend-bearing stocks isn’t just a matter of preference; it’s
The allure of sunshine, low taxes and low housing prices have been attracting people to Florida for decades, but high insurance premiums are beginning to reverse the trend. The U.S. Census Bureau shows that nearly 276,000 people left Florida in 2022, and it's believed that skyrocketing insurance premiums motivated many of the departures. The study showed most of the former Florida residents remained in the sun belt, moving to states like North Carolina, Georgia, Tennessee and Texas. Those states
Amazon's announcement on Thursday isn't the first time the e-commerce giant has shaken up an entire industry with a simple press release.
Berkshire Hathaway's record $157 billion cash pile is a warning sign for investors, Portfolio Wealth Advisors' Lee Munson said.
(Bloomberg) — Jim Chanos, the legendary short seller known for his bearish bets against Enron and Tesla Inc., is shuttering his hedge funds after almost four decades.Most Read from BloombergAston Martin Owner Lawrence Stroll Sells F1 Team Stake at £1 Billion ValuationBacklash Spreads Over Musk’s Endorsement of Antisemitic PostOpenAI Ousts Altman as CEO; Board Says It Lost Confidence in HimHamas Mastermind Who Tricked Israel Is Top Target in Gaza TunnelsApple Plans to Make It Easier to Text Betw
Another robust quarter from NVIDIA appears to be in the cards, with scorching-hot Data Center demand and improving Gaming revenues likely to provide tailwinds. How will shares react?
Automotive publication MotorTrend named its 2024 car of the year on Thursday. The decision is a metaphor for how many Americans seem to feel about battery-electric vehicles or BEVs these days. It also shows what BEV sellers must do to change impressions.
In a surprising move, OpenAI today abruptly fired Sam Altman, its CEO and a member of its board of directors, and installed CTO Mira Murati as interim CEO. Murati, who has a degree in mechanical engineering from Dartmouth College, previously worked as an intern at Goldman Sachs and then at Zodiac Aerospace, the French aerospace group.
Imagine your child is getting married and you want to help pay for their wedding. You’ve been saving for years and now have $30,000 set aside for their big day, which you plan to hand over in the form of a check. However, before you pass along that much cash, it’s important to understand the […] The post Do I Need to Worry About the Gift Tax If I Pay $30,000 Toward My Child's Wedding? appeared first on SmartReads by SmartAsset.
States vary widely in the way they tax retirement income so location is an important consideration in financially planning for retirement. Some states don't levy income states on any sort of retirement income, while others tax IRA and 401(k) distributions, … Continue reading → The post 11 States That Do Not Tax Retirement Income appeared first on SmartAsset Blog.
Nvidia, a giant in data centers and gaming, is supercharging investor interest in artificial intelligence. Is Nvidia stock a buy after breaking out, with earnings due next week? On Nov. 13, Nvidia unveiled the highly anticipated H200, its latest graphics processing unit for training AI (artificial intelligence) models.
As expensive as mega-cap tech stocks are, they are still worth holding onto since they are at the center of the AI tech transformation that is just beginning, writes an Evercore analyst. Many smaller tech companies won’t be able to compete with larger firms, which are using their ample profits to invest heavily in AI. Salesforce and Intuit are two companies that aren’t that expensive and are likely to post strong growth.
My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into … Continue reading → The post Ask an Advisor: Can a Nursing Home ‘Take Our IRA?' My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. appeared first on SmartAsset Blog.
The market rally is about to enter a power trend. Nvidia earnings loom large for AI stocks such as Microsoft and Palantir.
The euro has rallied rather significantly during the course of the trading week, mainly on Tuesday as CPI numbers came out lower than anticipated on Tuesday in America.
Legendary billionaire investor Warren Buffett is widely recognized as one of the greatest financial minds of this era. Over the course of several decades, he amassed a significant fortune through shrewd investment strategies and timeless wisdom. During the 2015 Berkshire Hathaway Inc. annual meeting, Buffett shared his perspective on the curious dynamics of discussing the company's investments. He offered insights into why he refrains from "talking up" Berkshire's investments, shedding light on
New York, NY –News Direct– Finance News