Bitcoin On The Brink: Predictions Range From $56K To $180K As Analysts Eye Breakout

The price of Bitcoin has been a heated issue recently since different financial institutions project different future images of it. Bitcoin is valued about $63,000 as of September 26, 2024; it shows some consistency following previous swings. Related Reading: Massive XRP Rally Incoming? Analyst Predicts 220% Price Jump Details This price is still significantly higher than its value just a year ago when it hovered around $26,000. The cryptocurrency market remains volatile, and many analysts are weighing in on what lies ahead for Bitcoin. Predictions From Financial Institutions Various financial firms project different paths of pricing for Bitcoin. For instance, Standard Chartered recently changed their projection from an earlier forecast of $100,000 to $120,000 by the end of 2024. This change captures an increasing hope about the market potential of Bitcoin, particularly considering the major impact of the recent halving event. Conversely, Berenberg has been more circumspect, setting a target of $56,630 by April 2024. Their projection takes into account the possibility for significant market corrections. Fundstrat, however, has set a lofty aim of $180,000 since it believes that the introduction of a BTC ETF will increase prices. Such forecasts draw attention to the divergent opinions in the sector and show how greatly market attitude may change. Researcher Sees Bitcoin Targeting $68,000 Next Head of Research at Uphold Martin Hiesboeck has voiced hope on the foreseeable future of the crypto asset. He believes that Bitcoin is “ready” to break above the $68,000 mark, representing a potential increase of 6.67% from its current price. Looks like $BTC is ready to blow straight through to 68000 Happy trading! Dr Martin Hiesboeck (@MHiesboeck) September 25, 2024 According to Hiesboeck’s research, Bitcoin has lately exhibited great momentum almost approaching $65,000 before encountering some opposition. He expects the bitcoin to keep on its rising slope and eventually reach the $68,000 mark. Variables Affecting Bitcoin’s Price The price of Bitcoin varies for several reasons. Unlike conventional equities that generally react to corporate performance or economic news, macroeconomic trends, technological improvements, and legislative changes can all affect the value of Bitcoin. Related Reading: Popcat Climbs By 35% $1 Target Within Reach Institutional curiosity in Bitcoin also keeps rising. Many investors see it as a means of portfolio diversification and a hedge against inflation. Certified financial adviser Drew Feutz said: “The potential benefits of investing in crypto are potentially higher returns than traditional assets.” Many others agree that over time Bitcoin could outperform conventional stock and bond portfolios. The Road Ahead Looking ahead to 2025 and beyond, forecasts range greatly. By 2030, some analysts estimate BTC valued between $400,000 and $1 million. These forecasts, however, are only hypothetical at best and mostly rely on macroeconomic conditions and external events including legislative changes. Featured image from CNBC, chart from TradingView

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Country-wide Bitcoin adoption a mixed bag for national economies

Country-wide Bitcoin adoption could boost financial inclusion and trade, but challenges like volatility and regulatory hurdles might create mixed economic impacts. 

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Massive XRP Rally Incoming? Analyst Predicts 220% Price Jump Details

Veteran bitcoin trader Bitlord recently made a strong call implying XRP is about to experience a big price surge. He claims the coin is “ripe” for a parabolic action that might make investors quite profitable. Related Reading: Bittensor (TAO) Explodes By 81% Is $530 The Next Target? XRP might see a significant price ascent, even if it lags behind other leading cryptocurrencies in recent increases. With a bullish XRP price prediction of 113% increase over the next year, CoinCheckup further fuels the increasing optimism on the token. XRP rose just 3% last week; in comparison major cryptocurrencies like Ethereum and Solana jumped by more than 10%. XRP was down 1% in the last 24 hours, while its competitors showed 2% increase. Still, Bitlord thinks the altcoin is set to explode in the next 24 hours. His reasoning isnt entirely clear, but his history of making accurate predictions is enough for many traders to watch the token closely. I think $XRP is ready -Expecting a parabolic explosion vertically within 24hrs. Dont sleep, millions can be made timing this move Crypto Bitlord (@crypto_bitlord7) September 22, 2024 Trading Momentum And Patterns Not only is Bitlord staring at XRP for a possible breakout. The Moon, another trader, has noted a symmetrical triangle pattern developing on the weekly chart of XRP. Often indicating a period of consolidation before a major change, this technical arrangement shows converging support and resistance lines. According to the trader’s study, XRP might explode by an amazing 221% should it break above the upper resistance line, hence perhaps guiding the price above $1.34. #XRP may explode in this bull cycle! If it breaks out of this massive triangle, it could go parabolic! pic.twitter.com/wG2SeexCca The Moon (@TheMoonCarl) September 21, 2024 Apart from these increases, XRP’s price movement over the past week shows encouraging signals. The coin showed a noteworthy peak for the month, touching $0.61 before declining to $0.5796. Given the traders’ ongoing interest in the asset, this surge might suggest more notable upward moves. XRP: Short-Term Gains Or Long-Term Play? Although some traders remain optimistic despite XRP’s slow performance in recent months casting questions on its capacity to maintain pace with rivals. Bitlord’s insistence on a parabolic action has some validity. Going from $0.43 to $0.6366, he counseled investors back in July to purchase XRP before it jumped by 48% within a week. Those who took his advice profited handsomely, and many are hoping for a repeat performance. Technical data from CoinCheckup only go to reinforce hope. Based on their prediction, XRP will surge 19% in the next month and 16% in the following three months. Their predicted growth of 138% in the next six months may indicate an excellent bull run. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details A Potential Parabolic Move? It remains to be seen whether XRP would really see the parabolic surge Bitlord predicts. But the token looks to be preparing for something big with a mix of technical signs and positive sentiment. XRP may be appealing to traders seeking a high-reward opportunity, but timing will be vital as always in the erratic crypto market. Featured image from Bit Perfect Solutions, chart from TradingView

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Hong Kongs e-HKD project expands into tokenization, programmability

The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective.

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Bittensor (TAO) Explodes By 81% Is $530 The Next Target?

Making waves in the crypto industry today, Bittensor (TAO) is showing an impressive annual increase. The current explosion in artificial intelligence adoption has spurred more interest in cryptocurrencies, and Bittensor is conspicuously leading in this regard. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details TAO has shown an amazing 1,000% price rise over the last year. The digital asset was up by a solid 65% this month. Looking ahead, CoinCodex projects a whopping 243% price rise, maybe reaching $1,827 by October 23, 2024, therefore inspiring investor hope. Right now, Bittensor is trading at $525, slightly below the vital $530 threshold. This shows strong market mood since it indicates an 81% sustained upward push in the past week. Given the good technical indicators and a positive view of the next months, traders are excited to see how high TAO may get. Strong Market Momentum At the moment, Bittensor is riding a wave of strong upward progress. The price went up by 40% after a recent wedge exit, setting the asset up for more gains. Bittensor’s futures open interest has gone from $61 million to $114 million, showing that investors are taking notice. This rise means that more investors are starting new positions, which means that money is coming into TAO. Moreover, the recent price increase has been accompanied by heightened bullish signals. With liquidation for short positions at a yearly high of $1.45 million, people betting against the market are driven from their positions. Long position liquidations, meantime, have been somewhat minimal, just $139,000 over the past week. This pattern shows increasing confidence among investors thinking about the future price movement of Bittensor. Positive Mood And Price Projections Expectations are that this optimism regarding Bittensor will hold. Furthermore, according to CoinCodex, this will result in an increase of up to 240% as the figures could rise to $1,827 come October 23, 2024. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains The fear & greed index is little changed at 50, and technical indicators are close to neutral. Such a signal is an indicator that investors in the market are staying positive about the prospects of the coin registering more gains ahead. With 16 of his 30 trading days posted in the green over the past 30 days, Bittensor has a 53% success record. Coupled with a 17.69% price volatility, this result suggests a healthy state of the market. Bittensor: Strong Market Signals Bittensor is fairly positioned within the AI coins sphere. Its phenomenal price pump and solid market signals give hope to traders about its prospects. Hence, soaring open interest, a high liquidation rate on short positions, and positive projections for the price indicate that Bittensor may record decent profits in the coming months. Featured image from X/@CryptoGirlNova, chart from TradingView

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AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details

AAVE rose 20% Wednesday to $170, a level not seen since May 2022. An asset in accumulation for more than two years is attracting traders and analysts who feel it has additional upside potential. AAVE’s strong recovery since July 2024 impressed traders despite market consolidation and low volatility. Within months, the asset rose 125% from [...]

The post AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details appeared first on Crypto Breaking News.

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Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst Predicts

Veteran analyst Peter Brandt is making a bold prediction that is creating a lot of talk in the crypto arena: by 2025, Bitcoin should see its price jump 400% relative to gold. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains He feels that, according to the market patterns witnessed so far, Bitcoin could soar to the equivalent of around 123 ounces of gold. This rally potential comes in the wake of general price predictions, as Bitcoin is likely to increase by 65% over the next three months and by almost 100% in six months, data from CoinCheckup shows. Over the next year, an increase of 130% is estimated, meaning that confidence in the upward movement of Bitcoin is quite strong. There has never been a better moment for investors to ponder this question: Will Bitcoin be able to rise above the iconic status of gold as the prime store of value? Never mind if the crypto market cannot resist their bold prophesying; the confluence of key factors appears to portend a triumph for Bitcoin in the years ahead over gold. When I look at chart of Bitcoin/Gold ratio, here is how I view it: $GC_G $BTC $BTCXAU 1. Continuation inverted H&S pattern, neckline at 32.5 to 1 2. Left shoulder low at 14.2 to 1 3. Right shoulder forming flag 4. Could decline into high teens to 1 5. Target 123 to 1 pic.twitter.com/VKvsDqwkuU Peter Brandt (@PeterLBrandt) September 21, 2024 Institutional Adoption Fuels Optimism A significant reason why Bitcoin is likely to rocket soon is because of the increasing institutional investment. Large financial companies, even governments, have begun to view Bitcoin as a store of value akin to old inflation hedges like gold. Such institutional support will be crucial in propelling Bitcoins’ price even higher as capital continues to pour into the market in more considerable volumes. But perhaps most significantly, decentralized finance has unlocked new use cases for Bitcoin beyond its role as a store of value. By including the underlying cryptocurrencies in the DeFi ecosystem, investors can use their Bitcoin positions in ways gold simply cannot be used. According to Titan of Crypto, another respected voice in the crypto community, Bitcoins unique position within DeFi will only strengthen its value proposition against traditional assets like gold. Golds Rise Could Boost Bitcoin Interestingly, the forecasted rise in gold prices could indirectly benefit Bitcoin. As gold registers fresh all-time highs, it reinforces the narrative of precious metals as a hedge against economic turmoils. This, however, makes Bitcoin a more functional option considering its digital nature and increasing utility within decentralized finance. Investors looking to diversify may see Bitcoin as a way to gain exposure to both safe-haven assets and the rapidly evolving digital economy. According to Wall Street investment banks, gold is likely to break through $2,700 as 2025 progresses, thanks to the expected rate cuts by the Federal Reserve. If Bitcoin maintains its current trend, its price compared to gold may rise, maybe reaching the 123-ounce threshold. Related Reading: AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation Details How This Feels To Investors The consequences of this prediction are substantial for investors. Those who own Bitcoin would see significant rewards if the alpha coin’s price rose 400% in relation to the popular yellow metal. Investors must exercise caution when considering this opportunity, despite the fact that Bitcoin’s long-term outlook remains optimistic, particularly in light of its projected 132% price increase within the next year. Overall, the crypto landscape is evolving rapidly, and Bitcoins role as a store of value could very well surpass golds in the coming years. Investors would do well to keep an eye on both assets as economic conditions shift and markets react to global developments. Featured image from Asia Times, chart from TradingView

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IMF staff propose REDI framework to catalyze CBDC adoption

IMF staff members have introduced a high-level four-stage framework emphasizing regulation, education, design and incentives to enhance CBDC adoption.

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Bank of Canada just says no to retail CBDC in reshuffling of priorities

Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.

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Bank of Canada says no to retail CBDC in reshuffling of priorities

Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.

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SUI Crashes 23% As September Unleashes Market PanicIs A Comeback Possible?

With the market at an extremely volatile position, SUI bears pushed their advantage forcing losses on the tokens holders. Despite strong developments on-chain, SUI still flashed red with over a whopping 23% losses since last week.  On-chain, SUI continues to solidify its position in the world of DeFi. However, with the markets sway on the token, its short-term performance might be clouded by the fear, uncertainty, and doubt present in the market.  Related Reading: Ripple Unleashes 1 Billion XRP: Could This Trigger A Price Tsunami? NFTs And Gaming Fuel Sui Development  DARKTIMES, an MMORPG game built on Sui, has announced that it will launch the games Alpha state will release later this year. The game has been in stealth development since 2021 according to the founder and CEO of DARKTIMES, Lucien Dormann, in an interview. Users will catch the playtest of the game at Korea Blockchain Week which will occur September 3-4 this week.  The battle draws nigh! 36 combatants will enter. Only one can win. Feast your eyes on the rich world of @playDARKTIMES Featuring seven medieval realms. Five deadly characters. And a trove of ownable assets. All powered by Sui, for fast-paced action that never https://t.co/28Hsjc8tza Sui (@SuiNetwork) August 30, 2024 This development came hand in hand with the recent announcement that SuiPlay OX1, the platforms handheld gaming console, will officially be open to pre-order in the next ten hours. No spec sheet has been released yet, but the console will be available in 2025.  In the realm of NFTs, the platform has been chosen by Artifi, an art investment company, which is to turn high-end art into another asset class thats accessible to the masses.  Ready / Sui // Play ”A gaming revolution” Pre-orders for the #SuiPlay0X1 coming very soon. pic.twitter.com/LLIhTumWa6 SuiPlay (@SuiPlayOfficial) August 29, 2024 The resurgence of NFTs on Sui came despite the asset class being under the scrutiny of the Securities and Exchange Commission (SEC) which alleged that NFTs are securities and is willing to bring the regulatory hammer down on Opensea. How will this affect the future of NFTs and NFT-based developments on Sui in the long term remains to be seen.  SUI To Return To Manageable Levels After Market Pressure Despite the overall bearishness plaguing the broader market, investors and traders should remain optimistic. SUI is currently trading right between the $0.71-$0.79 trading range which lies well on the 61.80% level of the Fibonacci retracement tool, marking the significance of the range when it comes to the long-term performance of the token.  Related Reading: TIA Down 23% In A Week, As Investors Eye New On-Chain Projects The tokens relative strength index (RSI) still signals that the bears overwhelm the market. However, SUIs return to this level remains a bullish signal as the 61.80% level will provide the bulls with a strong support level to aid future price movement.  SUIs strong correlation with major cryptocurrencies like Bitcoin and Ethereum will give the token the momentum it needs to recover in the medium term; that is if market sentiment flips to bullish within this timeframe. If the token stabilizes in its current trading range, SUI bulls should have the opportunity to retest and potentially break $0.96 in the long term.  Featured image from Chainwire, chart from TradingView

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Bitcoin (BTC) Millionaires Increased by 110% in 1 Year Amid Market Surge

The number of crypto millionaires has nearly doubled, reflecting the rising dominance of digital assets globally.

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SUI Climbs 36% Amid Bullish Breakout Is $1.50 The Next Target?

SUI has made some gigantic moves recently, posting strong bullish signals. In the last week, SUI registered an impressive 33% rally, pushing the price up to $1.18 at press time. This is getting people wondering whether the token is preparing for a longer ascent, as many are waiting for key levels that might influence the situation. Related Reading: Bitcoin On Track For $92,000 Bounce In 3 Months, Analyst Predicts Price forecast for the altcoin predicts significant increase in the next few months. A strong upswing could propel the SUI to soar by 245% in the following three months. The price chart of SUI shows a sequence of higher highs and lower lows, which confirms this viewtextbook evidence of optimistic momentum. SUI has gradually climbed from a low of $0.60 early this year, passing through several resistance zones along the way. Bullish Trend Signals Strength SUIs price movement indicates that bullish sentiment is gathering steam. The token’s capacity to breach resistance zones points to perhaps more fuel left for the rally. Market observers are closely monitoring the next significant resistance level at $1.2047. Should SUI exceed this barrier, the following targets should lie between $1.50 and $1.80. While the support held high at $1.125, a firmer layer of support is observed at $1.045. The battle is on between the bulls and the bears, but the momentum seems to be on the side of the bulls. What would be the final test is whether they can push SUI past these resistance levels to trigger another round of buying. Volume And Open Interest On The Rise Supporting the bullish outlook is the increase in volume and open interest. Data from Coinglass shows the trading volume of SUI has risen 3.25% to $1.83 billion while open interest is up 11.85% at $331 million. This rising trade volume indicates growing interest in this token,. With the increasing engagement, people seem to have big confidence in the short-term prospects of SUI. With these uptrends, the market sentiment is going strongly on a roll to sustain this rally. Technical signals and trading activities are showing good numbers for SUI bulls. Price Predictions Show Optimism The three-month prediction on price for SUI is quite optimistic. Analysts predict the coin rising 245.86% over the next three months. This would signify a massive rise from its present levels, indicating important momentum to be seen within the market and investors. Further ahead, the six-month projection is estimated to increase by 180.47% while the one-year outlook will hike by 166.62%. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures These numbers suggest that SUI might continue posting steady gains in the medium and long run, despite being traded at 228% below estimates in the next month, suggesting optimism is still around it. Investors are waiting and on the lookout for when SUI will cross past these key levels, which may unlock and open up better prospects for the future. The coin is drawing further attention as it moves with bullish technical signals coupled with increasing volume and positive price forecasts. It may be about to embark on a protracted rally considering the current position of the token, where it has managed to breach the strong resistance levels of around $0.016. Featured image from Chainwire, chart from TradingView

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Bitcoin On Track For $92,000 Bounce In 3 Months, Analyst Predicts

Bitcoin (BTC) appears to be bouncing off its summer slumber, say analysts who believe the asset could rebound in the coming months. Recent technical indications and charts suggest that BTC could be on the cusp of a significant price move. The cryptocurrency is geared for a bounce that could take the asset far beyond $92,000, despite recent losses. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures Short-Term Projection Bitcoin’s immediate technical projection points to a possibly positive trend. Right now, Bitcoin is selling 39.27% below its projected price for next month, according to CoinCheckup. Still, an increase is seen in the coming week; short-term signs suggest a possible comeback. With forecasts of a 70.68% gain, this momentum might open the path for significant price rise over the next three months. These short-term signs could point to a buying opportunity before a bigger rise starts. Past Performance And Forecasts This price movement of Bitcoin coincides with trends that have been exhibited during past halving events. According to popular analyst Titan of Crypto, the current trend goes in line with most the previous trends, especially the post-halving periods that have been the source of various significant movements. #Bitcoin Rally Imminent? In previous cycles, when the price retested the 50-week simple moving average , it bounced at least 40%. On average, the bounce was 71%. If #BTC rallies 71% from here, it could reach $92,000. pic.twitter.com/e3ghGxn3NS Titan of Crypto (@Washigorira) September 13, 2024 Titan underlined on the weekly chart a significant support level retest on September 13th, which historically has resulted in average price gains of 71%. According to his analysis based on historical data, Bitcoin might soon surpass the $92,000 mark, therefore attaining a new record for the currency. For Bitcoin, it’s always been a challenging month because average returns come in at around -4.69%. But history would tell a different tale when the following months, especially October and November, go on to reflect considerable increases. In October, Bitcoin has normally delivered average gains of 22.9%; in November, 46.8%.This trend supports the present projection of a possible comeback, therefore strengthening the belief that Bitcoin might bounce back rather powerfully in the next months. Bitcoin Long-Term Outlook In the long-run, the prospect of Bitcoin remains very promising. It will almost certainly rise upward with an estimation of 102% for the next six months and a chance to rise within the year by 166%. This would show intense market confidence in the future of the virtual currency and might even let Bitcoin continue outperforming at its current low. Related Reading: FET: 30% Breakthrough Draws Investor Attention As New Developments Roll Out The ability of the cryptocurrency to recover the $60,000 level lately shows a good change in market attitude, which prepares the ground for the possible price gains. All things considered, historical patterns and present technical indications of Bitcoin point to a bright future. Although current losses and short-term difficulties create hazards, generally the pattern shows a big comeback and possible price surge. Bitcoin is a good asset for both present and future benefits since investors who negotiate the short-term volatility could be well-positioned to profit from the expected long-term development. The chances for a strong comeback for Bitcoin seem more feasible as the market steadies and momentum gathers. Featured image from Pexels, chart from TradingView

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What Is the Future of Central Bank Digital Currencies (CBDC)?

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North Carolina resists the CBDC tide with new payments ban

A new law in North Carolina seeks to ban CBDCs in the state, but there are questions about whether the new legislation is even legal. 

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Analysts Predict XRP Mega Pump And Perpetual Cycle Details

Crypto analysts have XRP under the lens, as the altcoin has been consolidating for over 500 days. Well-known XRP figure Edward Farina recently predicted that the coin will be on a “perpetual cycle.” Farina had this to say during the Istanbul Blockchain Week, with many believing XRP will enter into its biggest bull cycle despite the currently unstable market conditions. He has called on investors to enjoy the current situation while prices are low. Related Reading: Major Bitcoin Addresses See 5% Holding Boost Whats Driving The Accumulation? Another crypto analyst, Egrag, shares his technical examination of XRP’s price movement in support of Farina’s optimism: The token’s recent resurgence within a key support and resistance levels, particularly $0.3931, signifies a very robust support zone. This particular movement of XRP has consolidated for over one and half years, which he thinks could be considered the accumulation that must be formed prior to a massive breakout. Egrag’s chart reveals that the bullish targets could be located at $0.739, $0.924, and may even be as high as $1.469. #XRP 540 Days Ranging Since March 13th, 2024! If you’re getting shaken by these tiny moves, you dont deserve the MASSIVE MEGA PUMPS that are coming!#XRPArmy STAY STEADY pic.twitter.com/ErNrvkO4F3 EGRAG CRYPTO (@egragcrypto) September 7, 2024 ‘Mega Pump’ On The Horizon? From Egrag’s analysis, holders of XRP are about to get what he terms a “Mega Pump.” While he maintains that those who held onto their tokens during this quiet phase may be rewarded in big proportions, he put forth a contrary belief that individuals who sold their XRP don’t deserve the massive mega pumps ahead. While XRP remains in this range, other cryptocurrencies climb. Bitcoin peaked in June 2024; Binance Coin peaked this year in April 2024. Even meme currencies like Shiba Inu and FLOKI soared, although given the volatility of the crypto market these were not sustained for long. Despite the laggard performance, however, some long-term investors of XRP are pretty confident that the long accumulation phase will be followed by a breakout. ‘Perpetual Cycle’ Incoming? Farina’s strategy is dollar-cost averaging: a practice wherein investors gradually buy an asset, particularly when it’s down from the peak. He said it was an excellent candidate for long-term accumulation since XRP remains 80% below its $3.84 record price back in 2018. $XRP wont experience a bull run, it will be a perpetual cycle. In a few years, well look back at todays prices, it will feel absolutely unbelievable. EAK TV interview at @IstanbulBlockWk #IBW2024 pic.twitter.com/wS30CFTAHI EDO FARINA XRP (@edward_farina) September 8, 2024 Further, he noted that this may put investors in a position to reap extraordinary gains once the market eventually reverses upward. Farina is not in a vacuum with his optimism. Other analysts have mirrored his view, saying XRP could go up as much as $50, or even up to $100, in the not-so-distant future. Related Reading: BNB Weekly Active Addresses Surge Over 6% Is A Rally On The Way? Will XRP Break Out? XRP is still affordable, trading around $0.527 at the time of writing. CoinMarketCap observers are bullish, with 73% predicting a token recovery soon. As varied as the market outlook was, many investors have followed Farina’s advice to accumulate XRP while prices remain low, hoping the token surges in the long run. Whether or not the “mega pump” occurs, the extended consolidation phase for XRP could be a preparatory move for something big. Featured image from Toyota of North Charlotte, chart from TradingView

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Accenture invests in Emtech to strengthen CBDC, fintech solutions

The deal will see Emtechs CBDC solutions and its regulatory and compliance sandboxes integrated into Accentures offerings.

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Kyrgyz Republic proposes digital som legislation, CBDC launch by 2027

The small Central Asian country is currently taking public comments on its framework legislation.

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Bitcoin SV: Altcoin Boasts 10% Gains As Rest Of The Market Falters Details

As the market rebound slows, Bitcoin SV captured some momentum and gaining some ground against the bears today, August 8. The coin has been up more than 10% since last month, a huge advantage in the markets hostile environment.  Related Reading: Aave Protocol Unfazed By Market Jitters, Surges 21% Bitcoin SV is a hard fork of Bitcoin Cash which is also a fork of Bitcoin itself. BSV, however, has traits unique to itself, unlike its close cousins that make it more attractive to businesses.  Solving Real World Problems With On-Chain Solutions  President of the Blockchain Association Uganda Reginald Tumusiime discussed his organizations project, the KitePesa, a stablecoin backed by the Ugandan shilling. According to him, most of the countries in Subsaharan Africa have been exploring central bank digital currency (CBDC) projects as a form of currency. This institutional interest in blockchain tech and stablecoins are the factors that KitePesa will leverage for further development.  The project has its merits. The Ugandan people have been switching to digital banking which offers the same features as traditional banks but with convenience as mobile phones become more and more prevalent. In 2023, customers of mobile money providers reached 42.9 million with the figure expected to rise in the coming decades.  KitePesa will leverage institutional interest to build a reliable blockchain infrastructure that operates and functions much better than traditional mobile money networks. With Ugandas robust regulatory framework regarding payments and the technologies involved, KitePesa has regulatory backing to operate in a legal environment.  The project will be launched on the BSV Blockchain, integrating the somewhat local project into the international market which may invest as they see potential in KitePesa.  Continuation Rally Might Happen At These Levels BSV could be faced with a breakthrough and is attempting to settle between $40.29 and $45.30. If the bulls are successful in taking this position, we might see further upward movement in the coming days or weeks. However, the market still has its doubts with the total market cap of the crypto market seeing a measly 0.2% gain in the past 24 hours as Bitcoin and Ethereum recover at a snails pace. In private equity, indices, futures, and commodities are experiencing hiccups as the market expects more volatility ahead and after the release of several macro indicators.  Related Reading: Polkadot Developments Show Strength, Despite Coins 18% Loss This will hamper BSVs short term to long-term gain as the coin moves with the broader market. The current movement is part of the outlying group of cryptocurrencies that outpaced the whole crypto market.  If BSV can stabilize at the $40.29-$45.30 price range, we might see a continuation rally in the long term. But this move is still highly dependent on the broader markets movement that is currently grinding to a halt.  Investors and traders should still treat BSV with caution as it can be susceptible to any market swing both upward and downward.  Featured image from Pexels, chart from TradingView

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