Bitcoin Price Inches Closer to $30,000
• The world’s largest cryptocurrency, Bitcoin (BTC) has gained momentum in a move inching closer to $30,000.
• Crypto analyst Jesse Myers predicts that the Bitcoin price rally could continue further as we approach closer to the Bitcoin halving of 2024.
• On-chain data provider Santiment reported that current market conditions suggest that Bitcoin may experience a bearish correction in the near term.
Bitcoin Bulls Emerge Despite Macro Uncertainty
Despite all macroeconomic uncertainty, Bitcoin (BTC) has only emerged stronger. Crypto analyst Jesse Myers believes that the upcoming Bitcoin halving event happening tentatively around mid-2024 will lead to a 12-18 month major bull market due to its effect on the supply/demand price equilibrium.
141,000 BTC Options Expiring Soon
The broader cryptocurrency market has been consolidating recently and this could soon be affected by a massive 141,000 BTC options expiring with a Put Call Ratio of 0.74. This could cause some volatility in the short term for both Bitcoin and crypto markets.
Technical Indicators Point Towards Bullish Momentum
Relative strength indicator (RSI) levels indicate weak buying pressure but the monthly RSI is trending upwards, signifying potential long-term rise for BTC prices. The simple moving averages of 200 days and 200 weeks also act as strong support levels for BTC prices.
It appears that despite some short term bearishness due to expiring options contracts, Bitcoin prices are still heading towards $30,000 over time due to bullish indicators such as RSI levels and simple moving averages acting as strong support levels coupled with an upcoming halving event that will result in an upending of supply/demand price equilibrium leading to increased demand and fewer new supplies driving up prices over time.
• Former Coinbase CTO Balaji Srinivasan has placed a bullish bet on Bitcoin, offering to send $1 million USD if the cryptocurrency surpasses $1 million in value within 90 days.
• James Medlock proposed to crowdfund the bet and donate 70% of it to GiveDirectly as a good cause.
• The two parties have agreed that if Bitcoin is still below $1 million after 90 days, Srinivasan’s opponent will win 1 BTC along with the money from the escrow.
Balaji Srinivasan’s Bullish Bet On Bitcoin
Balaji Srinivasan, the former chief technology officer of Coinbase has made a bullish call for Bitcoin by placing a $1 million bet. It all started when James Medlock tweeted that he would bet $1 million that the United States does not record hyperinflation. Srinivasan responded to this tweet and asked Medlock to buy 1 BTC, adding that he would also send $1 million to him.
The Terms Of The Bet
The two parties have agreed that if Bitcoin is still below $1 million after 90 days, Srinivasan’s opponent will win 1 BTC along with the money from the escrow. On the other hand, if Bitcoin surpasses $1 million in value within 90 days after they send their funds into an escrow, then Balaji stands a chance to walk away with $1 million in total.
Medlock Proposes To Crowdfund The Bet
James Medlock seemed to be in on it but disclosed that he didn’t have enough liquid cash for his part of the agreement. He proposed crowdfunding and donating 70% of it to GiveDirectly as a good cause instead. Both parties came to an agreement and proceeded with setting up an escrow and sending funds through smart contract instead of using custodian services.
Will Balaji Win The Million Dollar Bet?
It remains unclear whether or not Balaji will win his bet worth millions of dollars but one thing is certain – this bold move could potentially benefit many people around the world should Balaji prove successful in his prediction about Bitcoin reaching over one-million mark in value within 90 days time frame set for this particular deal between him and his opponent James Medlock .
At this point, we can only wait and see what happens next as both parties wait patiently for their respective outcomes from this historic betting match between Balaji Srinivasan and James Medlock which could potentially shape crypto market future even more than ever before!
•The Shiba Inu team has launched a new shib.io website and branding, sparking optimism for SHIB prices.
•The website allows users to purchase Shiba Inu the metaverse lands with ease using Ethereum (ETH).
•However, there was a mistake with Shibarium Beta chain ID revealed by the developer.
Shiba Inu Launches New Website
The Shiba Inu team has announced that there is a new shib.io website, debuting a new and improved Shib the metaverse branding. This launch of a new website has sparked optimism among the SHIB community and its 3.6 million followers on Twitter.
New Features on Website
Users of the website can carry out purchases of Shiba Inu the metaverse lands with ease, by using a buy system and making a few clicks that showcase the map of the lands. There are 100,595 lines that will be unlocked in the long term, while only 36,431 will be unlocked and made accessible to users during the first introductory phase, and 32,124 to be made available for purchase. To acquire lands, bids or purchases must be made using Ethereum (ETH).
Setting Up Wallet
In order for interested users to take part in the land bidding or purchasing process, they must set up and use a MetaMask wallet as it is currently compatible with shib.io portal.
Meanwhile, there was also an error with Shibarium Beta chain ID revealed by one of their developers which caused some chaos in their community-centered ecosystem.
Optimism Despite Error
Despite this blunder from one of their developers which caused some confusion in their ecosystem – investors remain optimistic about SHIB prices due to this major launch from Shiba Inu team’s latest projects debuting on their newly created website experience for its users.
• Optimism (OP) experienced a 70% decrease in daily transaction count since the completion of its Optimism Quests programme.
• Cronos Chain now has an official v1.0 version number following the completion of the Galileo mainnet upgrade earlier this year.
• DPA Token (DPAT), the protocol opening up African investments to the global crypto community, remains an international hot topic.
Optimism (OP): Decrease in Transaction Volume
Built on top of Ethereum (ETH), Optimism (OP) is currently one of the leading layer-2 blockchains in the crypto market. By using optimistic rollups, Optimism benefits from the security of the Ethereum mainnet and helps scale its ecosystem. After experiencing a significant increase in daily transactions on the layer-2 network, Optimism has observed a 70% decrease in daily transaction count since it completed its ‘Optimism Quests’ programme at the end of January 2023. The Quests were a series of 18 tasks that guided users through various network features such as swapping, lending, staking etc., with an aim to improve user experience within their ecosystem. Data from Dune Analytics shows that just days before concluding this program, on January 12th, daily transactions on the layer-2 network peaked at 760,000 – marking its highest ever rate since launch two years ago.
Cronos Chain: Upgrade to Version 1.0
Cronos is a layer-1 blockchain network based on Cosmos SDK technology that is interoperable with Ethereum and allows developers to instantly port dApps and assets from other layer-1 blockchain networks such as Ethereum, Solana BNB Chain and Terra; designed to scale DeFi sector & user base for decentralized applications (dApps). Following their upgrade called Galileo MainNet earlier this year, Cronos Chain now has an official v1.0 version number which intends to enhance performance with regard to quickness, effectiveness & dependability when running dApps or transactions across their platform.
DPA Token: Hot Topic Across Africa & Globally
DPA Token (DPAT) is gaining traction globally after initiating African investments into global crypto communities via its protocol – furthering access to digital assets across different parts of Africa and beyond while providing yield farmers more opportunities for profits despite local restrictions or financial regulations imposed by governments or banks within certain countries/regions across Africa continent – making it one of hottest topics internationally right now concerning African investments & potentials available within cryptocurrency markets worldwide!
Follow Us For Latest Crypto News!
At John Kiguru we keep our readers updated about latest news related to cryptocurrency markets such as performances from Optimism (OP) & Cronos (CRO), as well as new projects like DPA Token’s protocol initiative opening up African investments into global crypto communities – so stay tuned for future updates!
The weekly performances from Optimism (OP), Cronos(CRO) & DPA Token remain varied but highly interesting developments have been seen regarding both OP’s ‚Quests‘ program and CRO’s upgrade to v1.0; meanwhile DPAT continues gain traction globally thanks to initiatives aiming at granting access across different parts Africa while also providing yield farmers more opportunities for profits – follow us here at John Kiguru for all your latest crypto news needs!
• Crypto analysts are optimistic about the bull market this year with several tokens, including TRON (TRX), Ripple (XRP) and Orbeon Protocol (ORBN) gaining ground.
• TRON (TRX) is a decentralized platform designed to support entertainment applications and content creators, with the native token TRX used as payment on the platform.
• Ripple (XRP) is designed to provide faster and low-cost global money transfer, handling transactions in under five seconds at a modest fee.
TRON (TRX) is a decentralized platform designed to support entertainment applications and content creators. Its native token, TRX, is used as a payment method on the platform for content creation activities. The number of transactions on the network has been steadily increasing since September last year due to its strong adoption rate and demand. This translates into an ongoing uptrend that’s expected to continue in the future given its unique advantages over centralized mainstream networks such as Netflix. Currently trading at $0.068 with a 24-hour volume of over $206,830,177, TRON (TRX) is an attractive investment option for investors this year.
Ripple (XRP) was developed to provide global money transfers that are faster and more cost-effective than other options currently available in the market. It can handle transactions in under five seconds at a minimal fee compared to traditional networks which can take days or even weeks depending on how far apart two parties are located geographically speaking. This makes it an attractive investment in 2021 due to its potentials for further use cases development and increased adoption rate across different regions around the world. Currently trading at $0.54 with a 24-hour volume of over $24 billion, Ripple (XRP) certainly looks like one good crypto asset worth investing in this year especially when considering its current price momentum against some of its competitors such as Ethereum’s Ether token ETH).
Orbeon Protocol (ORBN)
Orbeon Protocol also known as ORBN is still relatively new but has gained by 1815% since it started its presale phase 8 back in 2020 which shows great potential for further growth this year if their roadmap holds true till 2023 when they plan their mainnet launch date scheduled for Q4 2021 . Despite being new compared to some other cryptos out there it has already made quite impactful partnerships such as Paypal , Applepay & Microsoft Azure proving that ORBN could be one of those tokens that will make headlines soon enough . With so much going on behind closed doors it’s safe to say that investing now while it’s still relatively cheap would be wise decision if you want your portfolio diversified correctly before prices sky rocket past what we saw during last years bull run .
Why Invest Now?
Now let’s look at why you should invest now rather than later when prices might be higher or even lower after some major events occur within these three projects: First off all three projects have different use cases making them attractive investments either way but depending on your risk appetite you could go all in or just invest small portion of your capital . Secondly all three projects have seen significant growth during last years Bull Run showing us there’s plenty of room for improvement once again should another Bull Run start soon . Lastly each project also has potential partnerships lined up meaning once these deals come through prices could shoot up significantly giving early investors huge returns . So if you’re looking for something new yet familiar then all three projects could be great additions to your portfolio whether you’re just getting into crypto or already well established investor alike .
In conclusion , TRON(TRX), Ripple(XRP),and Orbeon Protocol(ORBN) are all promising investments with unique strengths and advantages that make them stand out amongst other cryptos currently available on the market today . All three projects have experienced considerable gains since they launched while also having potential partnerships lined up which could cause prices shoot up significantly should any deal come through thus making them worth considering if you’re looking diversify your portfolio correctly before next Bull Run starts sometime later this year .