Analysis and Expectations for the Cryptocurrency Market in 2024

In 2024, the cryptocurrency market was shook by many important developments. The approaching halving event and increasing demand through the ETF channel created positive expectations among investors, yet rocket attacks by Iran that affected the markets overshadowed these expectations. Delays in SEC’s ETF approval process and incidents like the hacking of X account were some of the difficulties the market faced. Investment and Market Dynamics The prices of Bitcoin and other cryptocurrencies exhibited significant volatility in April 2024. Whales accumulated significant amounts of Bitcoin from March onwards, while at the same time, large sell walls and critical resistance points emerged in the market. Especially the $64,000 level created significant selling pressure. Expert Analyses and Predictions Popular analyst Skew emphasized the importance of closures above $62,000 for Bitcoin, while Whalemap noted that levels of $52,000 and $48,000 should be considered as critical support levels in extreme selling scenarios. Santiment reported that […]

Analysis and Expectations for the Cryptocurrency Market in 2024

In 2024, the cryptocurrency market was shook by many important developments. The approaching halving event and increasing demand through the ETF channel created positive expectations among investors, yet rocket attacks by Iran that affected the markets overshadowed these expectations. Delays in SEC’s ETF approval process and incidents like the hacking of X account were some of the difficulties the market faced.

Investment and Market Dynamics

The prices of Bitcoin and other cryptocurrencies exhibited significant volatility in April 2024. Whales accumulated significant amounts of Bitcoin from March onwards, while at the same time, large sell walls and critical resistance points emerged in the market. Especially the $64,000 level created significant selling pressure.

Expert Analyses and Predictions

Popular analyst Skew emphasized the importance of closures above $62,000 for Bitcoin, while Whalemap noted that levels of $52,000 and $48,000 should be considered as critical support levels in extreme selling scenarios. Santiment reported that despite selling pressure, large investors continued to buy and the interest in Bitcoin remained strong.

Useful Information

Halving events and ETF approval processes are important factors for Bitcoin prices.
Big investors (whales) continue to accumulate Bitcoin, even in market fluctuations.
Levels of $52,000 and $48,000 should be evaluated as important support levels in extreme selling scenarios.
Regional tensions and international political events can directly affect cryptocurrency markets.

In conclusion, the cryptocurrency markets in 2024 faced many challenges arising from both technical and geopolitical factors. Investors should be cautious in such situations and constantly monitor market dynamics.

how to buy crypto?
Related Posts

Token Lock Releases and the Market Impact of ID Token

News 4 weeks ago

The cryptocurrency ecosystem closely monitors token lock release events, especially with great attention. Within the next week, it is indicated that token lock releases worth approximately $45.80 million will take place. These events can significantly affect market fluctuations. Particularly, ID, the local token of the Space ID platform that provides domain services in blockchain networks, is one of the key tokens that investors keep an eye on. ID Token Lock Release The lock release of the ID token, which will show an increase in supply of approximately 4.29%, will take place on April 22 at 03:00. This event can affect the market value of the ID token and the interest of investors in this token. Currently, the token is trading at $0.849 level and investors are closely monitoring this process. ID Chart Analysis According to the four-hour chart analysis of the ID token, an exit from the falling channel formation […]

Analysis of XRP Coin on SEC Lawsuit and Market Impacts

News 4 weeks ago

The ongoing legal process with the SEC has been affecting the market evaluations of XRP coin. Lawyers are set to present their appeals on Monday. Experts indicate that the increase in circulation supply will make it difficult for XRP to reach its former highs. Nevertheless, the recent short-term recovery in its price is promising. Market Dynamics and Price Movements Following recent losses, XRP has risen by 5.55% to $0.53. While its losses were greater compared to other cryptocurrencies, it is currently showing signs of recovery. Legal evaluations, court documents, and other details may positively or negatively impact XRP’s price in the future. Throughout 2024, the market has been on the rise while XRP has been lagging behind other altcoins. It lost 15% this year, while Bitcoin showed a 35% increase. This underperformance of XRP has prevented its growth even in high-risk appetite days. Investor Interest and Expectations Some investors may […]

The Strong Structure of Cardano (ADA) Treasury and ADA Coin Price Predictions

News 4 weeks ago

Cardano’s (ADA) treasury holds 1.5 billion ADA, which accounts for more than 4% of the circulating supply and is worth around $720 million with the current market value. These funds in the treasury are used to support the ecosystem and finance new projects. The Cardano ecosystem aims to create a self-sustaining structure using this balance. Features of the Cardano Ecosystem Cardano has a decentralized structure and allows ADA owners to vote democratically. This structure strengthens decentralization and democratic governance. The funds in the treasury increase through network activity, and a portion of transaction fees and block rewards accumulate in the treasury. The community votes on the use of these funds to finance projects. However, despite the expansion of Cardano’s smart contract capabilities, the number of applications that attract a significant and large user base on the network remains insufficient. The Future of ADA Coin According to technical analysis expert Ali […]

0 Comment

Write a Comment

how to buy crypto?
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • bitcoinBitcoin(BTC)
    $67,105.000.36%
  • ethereumEthereum(ETH)
    $3,118.290.67%
  • tetherTether(USDT)
    $1.00-0.03%
  • binancecoinBNB(BNB)
    $579.62-0.11%
  • solanaSolana(SOL)
    $174.010.84%
  • usd-coinUSDC(USDC)
    $1.000.01%
  • staked-etherLido Staked Ether(STETH)
    $3,115.490.70%
  • rippleXRP(XRP)
    $0.52-0.23%
  • the-open-networkToncoin(TON)
    $6.460.42%
  • dogecoinDogecoin(DOGE)
    $0.1547450.15%
Random