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Cryptography News
Cryptoslate
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Using Power Laws to predict when the Bitcoin price will hit $1 million
- The Power Law Model is a new model to predict the price of Bitcoin with remarkable accuracy.
- Astrophysicist Giovanni Santasi discovered that Bitcoin also follows a power law principle that presents a graph showcasing Bitcoin’s current price, a support line, a linear regression line representing a fair value price, and a resistance line marking the level Bitcoin typically reaches before a downturn.
- This model underscores the remarkably linear growth of Bitcoin, particularly evident when outliers are removed.
- Santostasi’s analysis suggests that Bitcoin could peak at $210,000 in January 2026, followed by a subsequent decline to around $60,000. He goes on to predict that Bitcoin will be worth $1 million in July 2033.
- While models may not be perfect, they can still provide valuable insights, and models like the power law model or the stock-to-flow model for predicting Bitcoin’s price have their flaws and limitations.
- Julio Marino from Crypto Quant pointed out issues with the power law model, such as underestimating errors and giving a misleading impression of accuracy.
- The question arises: if these models are correct, why bother with traditional investment strategies like the 60/40 portfolio? Some argue that new models explaining Bitcoin’s behavior could offer better returns.
- While models can provide helpful insights, they cannot predict the future, so it’s essential to consider these models but also recognize their limitations.
- Factors like scarcity and M2 growth influence Bitcoin’s price, and though models provide valuable predictions, they may fail to account for unforeseen events that significantly impact prices.
- Overall, Bitcoin’s trajectory seems upward, and while it’s important to consider models, investors must also exercise caution and apply sound investment strategies.
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Coinjournal
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Dogwifhat and Popcat sell-off as whale dumps tokens
- Dogwifhat (WIF) and Popcat (POPCAT) experience a significant sell-off as meme coins struggle.
- Dogwifhat price is down 11% in 24 hours, while Popcat is down 20%.
- A whale dumped WIF and POPCAT tokens at a loss.
- The whale sold 732,481 WIF for $1.85 million and 716,344 POPCAT for $281,000.
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Cryptopotato
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680
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TON Outperforms Bitcoin by 118% in 2024, Setting Itself Apart from Other Layer 1s
- TON has outperformed Bitcoin by 118% in 2024, distinguishing itself from other Layer 1 blockchains.
- TON's strength compared to other Layer 1 chains is notable, with only BNB showing similar performance against Bitcoin.
- The Telegram Open Network (TON) has experienced significant growth and established itself as one of the largest projects in the cryptocurrency industry.
- TON has partnered with Tether and Oobit to facilitate USDT-to-fiat transactions, enhancing its functionality on the network.
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Cryptopotato
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This is How Much Bitcoin (BTC) El Salvador Has Mined Using Volcanic Energy: Report
- El Salvador has mined 474 BTC worth approximately $29.6 million using volcanic energy.
- The mining was done using a geothermal power plant fueled by the Tecapa volcano.
- El Salvador's volcano-powered mining plant provides a sustainable alternative to traditional mining operations.
- El Salvador now holds 5,750 BTC worth roughly $354 million, combining mined and purchased bitcoins.
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Cryptopotato
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Crypto Price Analysis May-18: ETH, XRP, ADA, SHIB, and DOT
- Ethereum (ETH) saw a 7% price increase, but made a new yearly low against Bitcoin.
- Ripple (XRP) closed the week with a 4% price increase, and buyers are eyeing a breakout above 54 cents.
- Cardano (ADA) broke the resistance at 46 cents and may move towards 60 cents.
- Shiba Inu (SHIB) is looking to break the resistance at $0.000025, with increased buy volume.
- Polkadot (DOT) closed the week with a 6% price increase and may approach double digits if it breaks resistance at $7.6.
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Zycrypto
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180
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Smog Price Surges as Holders Speculate Which Meme Coins Might Mirror the GameStop Surge
- The surge of GameStop tokens eventually translated to the rest of the meme coin sector, leading many prominent joke cryptocurrencies to record significant gains.
- One example is the dragon-based Smog (SMOG), which runs on the Solana network.
- Smog surged by nearly 30% amid the hype surrounding GameStop stock and tokens.
- Smog is currently in the middle of an airdrop, allowing users to earn SMOG tokens by completing tasks or trading tokens.
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Zycrypto
2d
66
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Crypto Market 2024: Why Is This the Best Time for 99Bitcoins to Launch?
- 99Bitcoins is launching a new trend known as Learn-To-Earn (L2E) in the crypto market.
- The platform will use interactive learning modules and reward users with cryptocurrencies for completing lessons.
- The timing is excellent as it aligns with Bitcoin's fourth halving, which historically leads to massive bull runs in the market.
- The launch of 99BTC token and educational platform aims to educate new traders and provide them with better chances of avoiding losses.
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Zycrypto
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Innovation in Blockchain: Comparing 5TH SCAPE’s AR/VR Features to Solana’s Speed
- 5TH SCAPE integrates AR and VR technologies, offering immersive experiences in gaming, education, and entertainment.
- Solana is known for its high-speed transactions and scalability, supporting various dApps and cryptocurrencies.
- 5TH SCAPE focuses on realistic and engaging VR applications, utilizing advanced motion capture and proprietary hardware.
- While 5TH SCAPE emphasizes AR/VR integration, Solana excels in transaction speed and scalability.
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Zycrypto
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258
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Will Bitcoin Cross $73,000 Next Week? — Here Are The Top Factors At Play
- Bitcoin takes a bullish stand as the price reclaims $67,000.
- Market analysts expect the crypto market to boost with the surge in the US Dollar.
- Ex-BitMEX CEO predicts Bitcoin price to trade between $60,000 and $70,000 in the coming months.
- Bitcoin ETFs experience a decrease in holdings, but high expectations for a bullish tone next week.
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Zycrypto
2d
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Max Keiser Takes Big Dig At XRP, Says Ripple Created It To ‘Steal Billions From Fools’
- Bitcoin maximalist Max Keiser criticizes XRP, claiming it was created by Ripple's CEO Brad Garlinghouse to 'steal billions from fools'. Keiser predicts XRP will continue to trend towards zero against Bitcoin.
- Keiser has recently shown interest in Tether's USDT stablecoin, despite its centralized nature. He believes USDT can be used as a tool to weaken the United States dollar.
- Many individuals without bank accounts or access to banking services are converting their fiat money into USDT to carry out financial transactions.
- Tether has minted an additional $1 billion worth of USDT on Ethereum and Tron within the past 24 hours, increasing its market cap to over $111 billion.
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Zycrypto
2d
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Aleph Zero Launches Alephoria Campaign, Promising Airdrops, Tournaments, and Rewards
- Aleph Zero has launched Alephoria, an initiative to welcome Web3 users to its ecosystem.
- The campaign includes airdrops, tournaments, and promotional activities highlighting projects on the Aleph Zero network.
- Aleph Zero's high-performance blockchain features instant transaction finality and data confidentiality.
- Upcoming campaigns include a multiplayer RPG, a lending protocol, a gaming hub, liquid staking, on-chain questing, and an NFT collection.
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Cryptoslate
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341
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Analyzing the US Government’s Bitcoin holdings: What you need to know
- The U.S. government holds over 1% of the Bitcoin supply, valued at $13.16 billion.
- The holdings have tripled since 2021, primarily from enforcement actions rather than purchases.
- Significant seizures include the Silk Road case and the recovery of stolen Bitcoin from the Bitfinex hack.
- Monitoring government Bitcoin holdings is crucial due to their potential influence on market dynamics and the perception of decentralization.
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Zycrypto
2d
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Dev Release 31: BlockDAG’s SHA-3 Enhancements Drive Crypto Mining Innovation as Presale Nears 5600 Miner Sales
- BlockDAG (BDAG) releases Dev 31 featuring SHA-3 enhancements for crypto mining innovation.
- BlockDAG's presale has seen huge success, with the coin price surging by 650% and raising $28 million.
- The X30 Miner offers a hash rate of 280 GH/s, boosting mining efficiency and profitability.
- Dev 31 focuses on network security, efficiency improvements, and resistance to quantum threats.
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Cryptopotato
2d
891
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ChatGPT Analyzes Which AI Coin Will Be Top Performer in 2024
- ChatGPT predicts that Bittensor (TAO) and Fetch.ai (FET) have the best chance to be top performers in the AI cryptocurrency market.
- Bittensor (TAO) is praised for its strong growth potential and surging market cap, currently trading at around $380.
- Fetch.ai (FET) is the second-largest AI cryptocurrency with a market cap of around $5.7 billion, known for its advanced technology.
- Internet Computer (ICP), the current leader, was not ranked among the top 5 by ChatGPT. Its future performance depends on integrating AI functionalities, investment levels, and regulatory changes.
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Cryptopotato
2d
7
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Bitcoin (BTC) Price Taps $67K, Ethereum (ETH) Climbs Above $3.1K (Weekend Watch)
- Bitcoin's price reaches over $67,400, the highest in a month.
- Ethereum surpasses $3,100 after struggling to break through the $3,000 resistance level.
- Bitcoin's market cap stands at $1.320 trillion, with dominance falling to 51.6%.
- The total crypto market cap rises to $2.560 trillion.
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