Welcome to our latest edition of Crypto Scope, where we dive into Bitcoin, AVAX NEAR, Chainlink… analysis. In this issue, we examine the dynamics of the Bitcoin market, the impressive performance of AVAX and NEAR, and the promising outlook for Chainlink.
Current dynamics of the Bitcoin market
Despite the significant rise in the price of Bitcoin this year, the analysis reveals that a feeling of FOMO (Fear Of Missing Out) typical of bull markets is not yet present.
Recent transactions involving “younger” Bitcoins show an impending change in the profitability of BTC supply. However, the massive return of speculators remains absent.
Bitcoin holding near 18-month highs, but RHODL waves indicate a lack of FOMO. The proximity to the profitability zone is closely monitored, especially if BTC crosses the $39,000 threshold.
AVAX and NEAR outperform Bitcoin and Ether
Avalanche’s AVAX and Near Protocol’s NEAR tokens recently outperformed Bitcoin and Ether. This increase is attributed to Avalanche’s involvement in MAS’s Project Guardian and positive announcements from the Nearcon conference.
AVAX increased by 8.2% and NEAR by 6%, outperforming the general market performance.
Doubts about optimistic XRP price predictions
XRP follower Bill Morgan expresses skepticism over predictions of a parabolic rise in the price of XRP.
Despite a modest rise since the favorable ruling in the SEC versus Ripple case, Morgan questions the reality of a parabolic rise for XRP, difficult to imagine in the short, medium or long term.
Chainlink Price Outlook
Chainlink (LINK) has seen a recent price rally, raising questions about its ability to continue this trend. The imminent launch of Chainlink v0.2 staking could coincide with a potential rebound in the price of LINK.
Technical analysis suggests that LINK may reach support at $12.50 before targeting long-term resistance at $19.50.
Vivek Ramaswamy’s political vision on cryptocurrencies
US presidential candidate Vivek Ramaswamy presented his “Three Freedoms of Crypto” policy framework at the North American Blockchain Summit.
This framework includes freedom to code, financial autonomy, and freedom to innovate, aiming to promote innovation while protecting freedoms in the cryptocurrency industry.
BlackRock files for Ethereum ETF
BlackRock has filed for an Ethereum spot ETF. The S-1 application includes detailed information about the investment strategy and risk factors.
Coinbase was chosen to hold ETH in this ETF.
Jennifer Hicks leaves Binance
Jennifer Hicks, head of counterterrorism operations at Binance, recently resigned.
His departure comes amid increased scrutiny of cryptocurrencies for their potential role in financing terrorist activities
Stay tuned to follow the latest Bitcoin AVAX NEAR Chainlink Crypto analysis and many other exciting topics. Don’t miss any updates on the trends shaping the world of cryptocurrencies.