Altcoins
Jack Dorsey Announces New Bitcoin Investment Strategy, Toncoin and KangaMoon Climb Altcoin List
Block Inc. CEO Jack Dorsey made headlines by announcing a new Bitcoin (BTC) investment strategy. Meanwhile, the altcoin market is in the midst of a resurgence, with Toncoin (TON) and KangaMoon (KANG) leading the way. Many analysts have identified KANG, a Stage 5 presale star, as the next 50x altcoin in 2024. Let’s see why.
Block Inc will buy Bitcoin (BTC) monthly
The CEO of Block Inc., Jack Dorsey, just announced his last adventure. He said his company plans to buy Bitcoin (BTC) every month with the dollar cost averaging (DCA) strategy. This move shows how much he believes in Bitcoin, which has been on a tear recently.
Data from CoinMarketCap shows that the price of Bitcoin has increased by 107% in the past year alone, while maintaining a market capitalization of $1.16 billion. Additionally, the Bitcoin cryptocurrency’s RSI and MACD signals are showing buy signals when it is trading above its 100-day and 200-day EMAs. Therefore, experts made a bullish forecast for the price of Bitcoin: $70,710 in the second quarter of 2024.
Toncoin (TON) partners with Arkham
On the other hand, Toncoin (TON) has been making waves in the altcoin space. Notably, Toncoin announced that he joined forces with Arkham. This development will provide over 900 million Telegram users with seamless access to Arkham data through a mini Telegram app. Additionally, Arkham will add TON support to its platform.
Toncoin’s price movement has surged 150% on the charts year-to-date while its market cap has remained at $18.40 billion. Additionally, the Toncoin crypto RSI is sitting at 39.41, which is within the buy zone. For all these reasons, market analysts predict a rise to $7 before the end of Q2 2024 in their Toncoin price predictions.
KangaMoon (KANG): among the best Altcoins in presale
KangaMoon (KANG) has proven to be a powerful player in the altcoin market and has attracted a lot of attention from traders. Their presale reached an incredible $6.2 million, showing just how interested people are in this altcoin. It is said that by the end of May 2024, the amount could even reach $7 million.
KangaMoon is unique because it focuses on Play-to-Earn (P2E) games, which is expected to become an industry worth $885 million by 2028. The central part of their plan is to create their own game P2E, where users can purchase online. game objects with KANG tokens. Additionally, KANG holders will have access to exclusive challenges for additional rewards.
What makes KangaMoon one of the best altcoins is its community approach. Ahead of its official launch, KangaMoon is offering free KANG tokens to its most active community members. This effort inspired over 20,000 members and a massive increase in interactions on their social media platforms.
Currently, KANG is worth just $0.0196 at stage 5 of its presale, up 290% from its starting price of $0.005. Over 6,000 people already hold KANG tokens, so demand is high. Experts predict a 50x jump once a Tier 1 CEX lists this altcoin in the second quarter of 2024. With this price prediction, KANG could emerge as one of the best altcoins to invest in.
What gives KangaMoon an advantage over Bitcoin and Toncoin?
Compared to Bitcoin and Toncoin, KangaMoon has a market capitalization of only $19.6. That means it needs less new money to push prices much higher. Therefore, KANG is one of the best altcoins that you can buy and get a 10% bonus.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
Website: https://Kangamoon.com/
Join our Telegram community: https://t.me/Kangamoonofficial
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the reliability, quality or accuracy of the material contained in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.
Altcoins
Long-Term Impact of Ethereum ETF on Cryptocurrency Market
Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.
The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.
According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.
Altcoins are poised for growth
The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.
Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.
In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.
According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.
He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.
Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.
Altcoins
Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail
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Altcoins
Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail
Disclaimer
Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.
Altcoins
Epic Altcoin Rally Expected for August and September
- Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
- Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.
Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.
See more
We are on the verge of a massive Altcoin rally, similar to Q1 2024📈
Keep accumulating and hold with patience. (Patience will be rewarded)
The majority of #Altcoins have already hit rock bottom and are about to escape.
In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc
— Captain Faibik (@CryptoFaibik) July 24, 2024
Accumulating and Holding Altcoins: The Path to Potential Profits
He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.
In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.
This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.
Bitcoin’s influence and legislative developments suggest good prospects for the future
Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.
Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.
If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.
In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.
As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.
Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.
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