Prominent Crypto Analyst Forecasts Bitcoin and Ethereum Trends

According to U.Today, Bitcoin's price, currently hovering around the $63,800 mark, has investors on edge as crypto analyst Ali Martinez points out a worrying pattern on the charts. Martinez's recent analysis of the leading cryptocurrency's performance reveals two significant sell signals, suggesting possible downward pressure on Bitcoin. The first signal is the appearance of a 'death cross' between the 50 and 100 Simple Moving Averages (SMA) on the Bitcoin 12-hour chart. This ominous pattern takes place when the short-term moving average, in this case, the 50-day one, crosses below the long-term moving average of 100 or 200 days. Historically, the death cross has been seen as a bearish indicator, hinting at a potential shift in momentum from bullish to bearish sentiment. Adding to the worry is the emergence of a red 9 candlestick from the TD Sequential indicator. This tool, developed by market analyst Thomas DeMark, is used in technical analysis to identify potential price exhaustion and trend reversals. In this situation, the red 9 candlestick implies that Bitcoin's upward momentum might be waning, potentially setting the stage for a corrective move. If Bitcoin fails to maintain above the critical support level of $63,300, investors might need to prepare for further downside. Martinez cautions that a breach of this level could pave the way for Bitcoin to test lower support zones at $61,000 or even $59,000. The current price of Bitcoin, down 16% from its all-time high, further emphasizes the uncertainty in the cryptocurrency markets. As crypto enthusiasts closely watch the evolving price action, all eyes are now on whether Bitcoin will succumb to the ominous signals of the impending death cross or defy expectations with a bullish resurgence.

The 2024 general elections in India are not expected to have an immediate impact on cryptocurrency policy, with current restrictive rules expected to continue during the upcoming parliamentary term, with the results expected to be announced on June 4. Several industry analysts said that no changes are expected to be made to cryptocurrency policy after the next legislators are elected, which will lead to the continuation of rules that have stifled the country's digital asset ecosystem in the short term. The two main political parties in India, the Bharatiya Janata Party (BJP) led by Indian Prime Minister Narendra Modi and the Nationalist Congress (INC), have not mentioned the words cryptocurrency, blockchain or Web3 in their election manifestos. However, this does not necessarily reflect their plans for the ecosystem. The Indian government and political stakeholders often use euphemisms to refer to the cryptocurrency-related field. The BJP's manifesto said that the party will educate the elderly to avoid digital scams, take strict action against those who threaten the country's digital sovereignty, and will develop "digital public infrastructure to eliminate information asymmetry in the agricultural sector." The INC said it will give farmers the option to upload their agricultural product sales agreements on a "digital ledger" and "work to address digital/cybersecurity issues that may threaten India's digital financial infrastructure." Cryptocurrency policies so far during Modi's second term include high taxes, such as a 30% tax on profits from the sale of digital assets, no ability to offset losses, a 1% tax at source on each transaction, and a requirement for exchanges to register with India's anti-money laundering and terrorist financing regulator. These policies and other enforcement actions have put the industry in a difficult position. (CoinDesk)

According to U.Today, crypto analyst Ali has made a bold prediction that the price of Dogecoin could surge to $1 in the coming weeks. This prediction is based on past trends and the reemergence of a classic pattern. Ali's analysis suggests that Dogecoin is currently in a phase of consolidation after a breakout, a pattern that has historically signaled the onset of bullish momentum. This consolidation pattern, often characterized by sideways trading or minor price fluctuations, has typically been followed by sudden surges in buying pressure, propelling Dogecoin to new heights. Ali's analysis indicates that Dogecoin is primed for another major rally in the coming weeks, with a price target of $1. He stated, 'Dogecoin is showing its classic pattern once again. DOGE is currently consolidating after breaking out of a descending triangle. Based on past trends, we might just see DOGE rocket towards $1 in the coming weeks.' Supporting this positive outlook, technical indicators on Dogecoin's daily chart have flashed a buy signal. The TD Sequential indicator, a tool for identifying future trend reversals, predicts a one- to four-day rise. This technical analysis suggests a bullish outlook, implying an impending price increase. At the time of writing, Dogecoin was down 1.18% in the last 24 hours to $0.16. As Dogecoin lingers above the $0.15 support level, the anticipation of its ascent to $1 is tangible. While Ali's prediction may seem ambitious to some, it is not without precedent. Dogecoin soared thousands of percent, reaching an all-time high of $0.737 on May 8, 2021. However, it is important to bear in mind that while past performance may offer insights into potential future movements, it is by no means a guarantee of success.

According to U.Today, Uniswap (UNI), a significant figure in the decentralized finance (DeFi) sector, has recently seen an 8% increase in its cryptocurrency. Crypto analyst Ali Martinez has suggested that this surge indicates a buy signal on Uniswap’s daily chart, potentially preparing traders for short-term corrections. Martinez has highlighted that Uniswap’s recent price movement could be a sign of a 1-4 day surge. He specifically suggests that UNI could potentially rise to $10. The Fear and Greed Index also indicates that Uniswap’s investors are currently greedy at 66, with the price prediction remaining bullish. At the time of reporting, UNI was trading at $7.60, showing an increase of 8.5% in the past day. The trading volume also rose by 14% to $182.5 million. Uniswap appears to be drawing in investors looking to protect their assets following a recent decline in Bitcoin’s price. Its importance in the DeFi ecosystem makes it a promising altcoin in the crypto market. However, Uniswap has recently faced regulatory challenges. The U.S. Securities and Exchange Commission (SEC) has notified the leading decentralized exchange of an anticipated enforcement action. Uniswap CEO Hayden Adams confirmed this news, expressing readiness to fight despite expressing disappointment with the regulator. Uniswap has previously been under the SEC's scrutiny. In September 2021, The Wall Street Journal reported that the SEC was investigating the top DEX, with the agency's lawyers focusing on the exchange's advertising. Marvin Ammori, chief legal officer at Uniswap, criticized the SEC's Wells notice as “another abuse of power.” He argued that the regulator lacks authority over securities. The SEC is currently pursuing legal action against several major players in the crypto market.

Nigeria’s cryptocurrency analyst Rume Ophi says the Nigeria Securities and Exchange Commission’s (SEC) cryptocurrency licensing requirements should revisit the Virtual Asset Service Provider (VASP) guidelines to enable local cryptocurrency exchanges to obtain licenses to operate in the country. . Ophi stated that the existing guidelines provided by the Nigerian SEC are not conducive to local cryptocurrency exchanges and that it should prioritize local exchanges when formulating guidelines. In order to obtain a VASP license from the Nigerian SEC, local exchanges must comply with application process requirements, pay registration fees and other applicable fees. Ophi noted that many local exchanges cannot afford the minimum initial capital requirement of N500 million (approximately $556,620), which he said will result in mainly foreign exchanges operating in Nigeria. Web3 Nigeria legal representative Kue Barinor Paul supported Ophi’s sentiments and said that Nigeria’s cryptocurrency exchanges and VASPs may need to merge to meet the Nigeria SEC’s licensing requirements. Paul said the Nigeria SEC needs to rework the licensing registration framework as the current requirements are largely friendly to foreign exchanges. In May 2022, the Nigerian SEC issued "New Regulations on Digital Asset Issuance, Trading Platforms and Custody." Ophi further stated that the National Assembly of Nigeria needs to be involved to ensure that the licensing requirements of the Nigerian SEC are in line with the realities of the country’s economy. (Cointelegraph)

Former Bloomberg Intelligence analyst Jamie Coutts CMT wrote on the X platform that by the end of 2025, technology stocks are expected to account for 25% of the total global stock market. This number has doubled in the past ten years; It is expected to account for 20% of the value of technology stocks (increased to 5 times in 5 years). Coutts believes that technology stocks and cryptocurrencies are likely to be the largest overweights in portfolios for at least the next 1-2 years until the liquidity cycle turns.

Charles Shrem, also known as Blockchain Backer, a prominent cryptocurrency analyst, has spotted a setup on the Bitcoin chart reminiscent of conditions preceding the 2020 rally. Shrem suggests that both Bitcoin and altcoins could be poised for significant price surges similar to what was witnessed in 2020.  His analysis is based on comparing the current ... source: https://www.cryptopolitan.com/crypto-analyst-on-bitcoin-chart/

The crypto analyst behind the JWK Show YouTube channel posted a video on Nov. 22nd highlighting recent allegations against crypto exchange Binance. He speculated that this could trigger a “bank run” and collapse similar to FTX. The host pointed to institutions capitalizing on the opportunity, highlighting a recent tweet from Grayscale touting its Grayscale Ethereum Trust as the world’s largest Ethereum (ETH) investment vehicle: We have Grayscale coming in, Wall Street never loses. You might also like: Crypto analyst predicts XRP breakout soon In addition, JWK also found links between Binance and Ripple, the firm behind the XRP token. He noted that the new Binance CEO Richard Tang previously shared a stage with Ripple’s European chief. Interesting connections being made with Ripple and Binance. Obviously all these people are puppets at the end of the day and this was all pre-planned as well Richard is a highly qualified leader and with over three decades of financial services and regulatory experience. Read more: What is Render, and why is it 50% up this week?

Odaily Planet Daily News Cryptocurrency trader and analyst Altcoin Sherpa posted on the X platform that December and January are “the absolute best time of the year to trade/buy cryptocurrencies.” BTC almost always performs well during this period, even in bear markets. ETH also tends to outperform the rest of the altcoin market in December and January, which typically leads to altcoin trading season. Sherpa said that December and January are the golden periods for Bitcoin’s trend. These two months have always rallied at times over the past few years, and so has ETH (despite its poor performance last year).