According to FXStreet, Ethereum continues to strengthen against bitcoin, suggesting a shift in investor interest toward altcoins. Technical indicators suggest that bitcoin's dominance in the cryptocurrency market risks weakening.
According to FXStreet, Ethereum continues to strengthen against bitcoin, suggesting a shift in investor interest toward altcoins. Technical indicators suggest that bitcoin's dominance in the cryptocurrency market risks weakening.
Russia's Ministry of Digital Development has introduced new regulations targeting illegal cryptocurrency mining. Individuals engaged in this activity without the required permits will face fines ranging from 100,000 to 2 million rubles, and their digital assets may be subject to confiscation.
Prominent trader Peter Brandt has drawn a comparison between bitcoin's price action over the past year and its 2011–2022 cycle. He suggests that the cryptocurrency could follow a similar pattern, potentially facing a massive correction and plummeting by 75%.
According to Bloomberg data, Bitcoin retreated from its daily highs after failing to surpass the record level set just over two weeks ago. Agency data shows the cryptocurrency's growth of approximately 16% since the beginning of the year.
The UAE is on the verge of revolutionary changes in the financial sector. According to CoinMarketCap, the country is set to introduce cryptocurrency into everyday life of its citizens. Dubai’s Department of Finance has partnered with Crypto.com.
In May, cryptocurrency fund assets reached a record high of $167 billion, fueled by easing trade tensions and renewed investor interest in riskier assets. According to Morningstar, 294 crypto funds attracted $7.05 billion in net inflows, the highest level since December.
Cathie Wood of ARK Invest has a positive outlook for the Ethereum. According to her calculations, the asset's price could reach $166,000 by 2032.
According to The Cryptocurrency Press, the US Congress is reviewing the new CLARITY Act, designed to eliminate legal ambiguities in cryptocurrency regulation.
Billionaire Mike Novogratz recently highlighted the $36 trillion US national debt, predicting it could surpass $50 trillion within a decade. As a solution, he advocates investing in bitcoin.
As revealed in a 13F report filed by major institutional investors with the US Securities and Exchange Commission, there has been a significant shift in bitcoin-ETF holdings. Investment advisors are now leading holders of exchange-traded funds on the major cryptocurrency by a large margin.
Bitcoin is the first and most commonly used cryptocurrency in the world. It holds a prominent place in the digital economy and draws the attention of traders and investors. High volatility and a wide range of influencing factors make the forecasting of its price complicated and requiring complex analysis.
Successful bitcoin trading is based on analyzing market trends, fundamentals, and technical factors.
Key elements that determine the value of bitcoin include:
Major investors and funds also have a considerable impact on the movement of bitcoin prices. Their massive purchases or sales can cause sharp fluctuations in the exchange rate. In addition, the general sentiment in the crypto market determines the dynamics of BTC, creating periods of high activity and deep corrections.
Forecasting the price of bitcoin is a complex task, as it is formed under the influence of many factors. Successful trading strategies and investment decisions require a thorough analysis of the macroeconomic situation, politics, and investor sentiment.
