Connect with us

Bitcoin

Crypto Analyst Who Predicted Bitcoin Price Crash From $69,000 Says Dogecoin Is Headed For $0.68

Published

on


The Dogecoin price is currently trading at $0.14, but not for long. According to a crypto analyst, technical analysis indicates Dogecoin is gearing up for a move towards $0.68. This interesting outlook for the king of meme coin comes amidst increased activity in its ecosystem, which suggests a large price move could be on the horizon. 

According to technical analysis by crypto analyst Dave The Wave using technical indicators, including the Fibonacci retracement, Dogecoin is currently looking bullish and is on the way to challenging its all-time high.

Dogecoin Price Action Prints Bullish

Dave the Wave, a well-known crypto analyst famous for accurately predicting the Bitcoin crash during the 2021 bull market, took to social media platform X to share his insights on the current Dogecoin price action. As such, Dave the Wave’s analysis has garnered attention from his followers, many of whom trust his market insight given his track record. 

His analysis is based on Dogecoin’s movement with the 1-day candlestick timeframe. In his analysis, Dave the Wave pointed out that DOGE appears to be on the verge of a breakout from an ascending triangle pattern. This comes after the meme coin successfully broke above a descending triangle formation earlier in the month. 

Since that breakout, Dogecoin has maintained an upward trajectory and has experienced a steady rally. Now, the meme coin is retesting a resistance level that aligns with the top of a newly formed ascending triangle.

Based on this price action, Dave the Wave expressed a bullish outlook for Dogecoin. To support his projection, he used the Fibonacci retracement tool to identify a potential price target. He highlighted the 0% Fibonacci retracement level, which is based on the retracement from DOGE’s all-time high in 2021, to note a final target of around $0.687. Reaching this target would represent a price surge of about 725% from the breakout point of the descending triangle pattern.

Dogecoin
Source: X

Can DOGE Create A New All-Time High?

Although technical analysis paints a rosy picture, the journey to a new Dogecoin all-time high is not going to be without challenges. One of the key challenges is the presence of significant resistance zones. Dave the Wave highlighted a critical resistance around the 2024 high of $0.22, along with another resistance level at $0.32, both of which could slow down Dogecoin’s upward momentum.

At the time of writing, Dogecoin is perambulating around $0.14, having lost about 3% of its market value in the past 24 hours. DOGE has faced multiple rejections in its attempts to break above $0.148 over the past 48 hours. This price level now appears to be the next immediate resistance that Dogecoin must overcome before it can target higher levels.

Dogecoin price chart from Tradingview.com
DOGE price fails to make recovery | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



Source link

Bitcoin

Analyst Says Bitcoin Price Might Be Gearing Up For Next Big Move — What To Know

Published

on


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Bitcoin price seems stuck in a consolidation range, ricocheting off the $83,000 and $86,000 levels over the past week. With no clear direction for the premier cryptocurrency, investors are left wondering what phase the market cycle is in—bullish or bearish.

According to a popular crypto analyst on the social media platform X, the Bitcoin price could be preparing for its next big move in either direction over the next few weeks. In any case, here are the important levels to watch out for in the next few days.

Crucial Levels To Watch For BTC’s Next Move

In an April 19 post on the X platform, crypto analyst Ali Martinez shared an interesting analysis of the Bitcoin price while highlighting the current layout of the world’s largest cryptocurrency by market cap. The online pundit noted that BTC bears and bulls are locked in a battle, leading to a choppy market condition.

Notably, the premier cryptocurrency appears to have entered the $83,000 – $86,000 range on Saturday, April 12. Hence, Martinez’s analysis basically revolves around the price of BTC bouncing off the support and resistance levels on its one-hour timeframe.

Bitcoin price

Source: @ali_charts on X

As shown in the chart above, the Bitcoin price attempted multiple times to breach the resistance zone around the $86,000 region over the past week. However, the bulls’ optimism was met with the staunch resilience of the Bitcoin bears, as the price of BTC almost always found its way back toward the $83,000 mark.

Most recently, the flagship cryptocurrency made its way toward the $86,000 level on Wednesday, April 16, but failed to break the significant resistance zone after the US Federal Reserve (Fed) chair Jerome Powell suggested that interest rate cuts might not be coming as early as anticipated by crypto traders.

Martinez noted in his post that the next significant move for the Bitcoin price depends primarily on the $83,000 and $86,000 levels. According to the crypto pundit, a breakout above the $86,000 mark could spell the start of a bullish run for Bitcoin, while a break below $83,000 could mean further correction for the market leader.

Bitcoin Price Overview

After reaching its all-time high of $108,786 in January 2025, the price of BTC has been on a steady decline in the past few months. According to data from CoinGecko, the flagship cryptocurrency has losst more than 22% of its value since hitting its record-high price.

As of this writing, the price of Bitcoin stands at around $84,530, reflecting a 0.3% decline in the past 24 hours. Meanwhile, the Bitcoin price is up by more than 1% on the weekly timeframe.

Bitcoin price

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

Continue Reading

Bitcoin

Swiss Supermarket Chain Welcomes Crypto Payments

Published

on


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

One of Zug, Switzerland’s Spar supermarkets has begun accepting Bitcoin as a form of payment, following an increasing number of enterprises welcoming cryptocurrency for day-to-day purchases. The move is a big development for the global grocery chain with almost 14,000 stores spread around the globe and catering to nearly 15 million customers every day.

Swiss Outlet Breaks Ground With Bitcoin Payment Option

This supermarket outlet in Zug has recently been added to the BTC Map, a community-powered platform that monitors businesses across the globe that accept Bitcoin payments, as reported by DFX.swiss, a Switzerland-based cryptocurrency startup. The system supports payment through Bitcoin Lightning Network technology, and customers can make payments by merely scanning a QR code.

Rahim Taghizadegan, a bitcoin economist who is the leader of the Bitcoin Association Switzerland, was a guest at the shop and verified the system functions correctly. In a video posted on LinkedIn, he explained how clients can pay using the cryptocurrency.

Spar on BTC Map.

Technical Solution Makes Transactions Quick

The payment system operates on the OpenCryptoPay protocol, created by DFX.swiss to support real-life crypto transactions. The system harnesses the peer-to-peer features of the Bitcoin Lightning Network, which accelerates transactions and makes them more feasible for use in retail outlets.

Switzerland has emerged as a hotbed of cryptocurrency acceptance, with more than 1,000 businesses accepting Bitcoin payments. The Swiss city of Lugano went as far as legalizing BTC and USDT as legal tender back in 2022, and lately, added a statue dedicated to the anonymous founder of Bitcoin, Satoshi Nakamoto.

 

Global Adoption Gaining Momentum

Although the Bitcoin payment option is now only offered at one Spar store, any rollout to the chain’s international network could have a massive impact on cryptocurrency usage in day-to-day shopping. Spar has an international presence in 48 countries, which means it has potential to bring millions of customers into contact with cryptocurrency payment.

This move continues an increasing pattern of Bitcoin uptake among retail businesses across the globe. Pick n Pay, which operates as one of South Africa’s largest food grocery chains, accepted digital currency as of 2022. Sports car maker Ferrari is also on board with taking cryptocurrency payments, exhibiting adoption through numerous market sectors.

BTC is now trading at $85,192. Chart: TradingView

Education Sector Also Embracing Cryptocurrency

According to last week’s reports, the trend is extending beyond retail and high-end merchandise. Lomond School in the United Kingdom revealed that it would accept tuition fees in BTC from autumn 2025, introducing cryptocurrency payments into education.

As institutions and more businesses incorporate cryptocurrency payments, customers could find crypto used as a standard choice to make payments instead of the traditional way. The Spar rollout in Switzerland might be a pilot for other markets within the grocery chain’s wide network.

The move by Spar to bring this payment mechanism to Switzerland reaffirms the welcoming attitude of this nation toward innovations in cryptocurrency. With the endorsement of a reputable global retailer like Spar, Bitcoin continues its transition from being fundamentally an investment currency to a practical currency for everyday shopping.”

Featured image from Inc. Magazine, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





Source link

Continue Reading

Bitcoin

What Does This Mean for Altcoins?

Published

on


Bitcoin’s (BTC) market dominance has surged to 64%, reaching its highest level in over four years. 

However, experts remain divided on what this means for the future. Some predict an impending altcoin season, and others caution that Bitcoin’s dominance could continue to suppress altcoins.

What Does Bitcoin’s Rising Dominance Mean?

For context, Bitcoin dominance (BTC.D) refers to the percentage of the total cryptocurrency market capitalization that BTC holds. It is a key indicator of Bitcoin’s market strength relative to other cryptocurrencies. A rising dominance suggests that Bitcoin is outperforming altcoins, while a decrease may signal growing interest or investment in other digital assets.

The metric has been steadily increasing since late 2022. As of the latest data, it surged to 64%, marking highs last seen in early 2021. 

Bitcoin Dominance Performance
Bitcoin Dominance Performance. Source: TradingView

Notably, Benjamin Cowen, founder of Into The Cryptoverse, highlighted that the number is much higher when excluding stablecoins.

“Excluding stable coins, Bitcoin dominance is now at 69%,” Cowen revealed.

The rise in Bitcoin dominance has sparked debate among analysts about its implications for altcoins. Cowen believes there will be a correction or downward movement in altcoins before any substantial gains can be expected in the market. This implies that the altcoin season may not be imminent yet.

“I think ALT/ BTC pairs need to go down before they can go up,” he stated.

Nordin, founder of Nour Group, also expressed caution. He stressed that Bitcoin dominance is nearing the levels seen during the peak of the 2020 bear market. 

“This isn’t just a BTC move. Its capital rotating out of alts,” he noted.

Moreover, Nordin warned that a break above 66% could intensify selling pressure on altcoins. This, in turn, could delay the altcoin season.

“Bitcoin dominance back to 64%. No Alt seasons in 2024 or 2025,” analyst, Alessandro Ottaviani, predicted.

On the other hand, analyst Mister Crypto predicts that Bitcoin’s dominance may follow a long-term descending triangle pattern. A descending triangle typically suggests bearish momentum, where the price or dominance gradually decreases as lower highs are formed. 

However, this could prolong its market control before a broader correction allows altcoins to gain traction.

Bitcoin Dominance Prediction
Bitcoin Dominance Prediction. Source: X/Mister Crypto

Another analyst mentioned that Bitcoin dominance is currently testing the resistance zone between 64% and 64.3%. Therefore, a possible retracement may be on the horizon. Should this retracement occur, altcoins could begin to gain traction, with some potentially emerging as top performers in the market as capital shifts away from Bitcoin. 

“However, a breakout from this zone could mean further declines for alts,” the analyst remarked.

Finally, Junaid Dar, CEO of Bitwardinvest, offered a more optimistic view. According to Dar’s analysis, if Bitcoin’s dominance drops below 63.45%, it could trigger a strong upward movement in altcoins. This, he believes, would create an ideal opportunity to profit from altcoin positions. 

“For now, alts are stuck. Just a matter of time,” Dar added.

Tether Dominance Signals Potential Altcoin Season 

Meanwhile, many analysts believe that the trends in Tether dominance (USDT.D) signal a potential altcoin season. From a technical analysis standpoint, USDT.D has reached a resistance zone and may be due for a correction, suggesting the possibility of capital flowing from USDT into altcoins.

“The USDTD is in a rejection zone, as long as it does not close above 6.75% it will be favorable for the market,” a technical analyst wrote.

USDT Dominance Performance
USDT Dominance Performance. Source: X/TheCryptoLemon 

Another analyst also stressed that the USDT.D and USD Coin dominance (USDC.D) have reached resistance, forecasting an incoming altcoin season. Doğu Tekinoğlu drew similar conclusions by observing the combined chart of BTC.D, USDT.D, and USDC.D. 

As Bitcoin’s dominance climbs, investors are closely monitoring these technical and on-chain signals. The interplay between Bitcoin’s strength and stablecoin dynamics could dictate whether altcoins stage a comeback this summer or face further consolidation. For now, Bitcoin’s grip on the market remains firm.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io