• In recent times, the Solana price has seen a considerable upwards push, breaching important resistance levels.
• Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%.
• Market capitalization of Solana has increased, trading at a 90% discount to its all-time high, which was secured in 2021.

The cryptocurrency market has been experiencing considerable growth in recent times, and Solana (SOL) is no exception. Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%. This has caused the coin to breach important resistance levels, with SOL now trading at a price of $25.

The increase in price has also caused the market capitalization of Solana to increase, with the coin now trading at a 90% discount to its all-time high, which was secured in 2021. This has been part of a larger trend in the crypto market, as Bitcoin’s price has remained above $20,000 and other altcoins have followed suit by showing positive price momentum on their respective charts.

The technical outlook of Solana has indicated a bullish sentiment, with accumulation remaining high on the chart as demand for the coin has been at a multi-month high. This could present buyers with buying opportunities, as SOL may retrace on its chart and then rise again.

However, the chart also reveals that as the coin has been overbought, it will eventually witness a price correction. As such, it is important that investors remain cognizant of the potential risks associated with investing in cryptocurrency and make sure to conduct the proper research before making any investment decisions.

– Recent crypto asset price gains have resulted in a bullish sentiment in the market.
– Ben Armstrong, a popular YouTuber known as BitBoy, has predicted a bullish trend for Bitcoin in the next few weeks.
– Armstrong forecasts that Bitcoin will reach $25,000 or $30,000 within 10 to 15 weeks, but may not reach an all-time high this year.

The crypto market is entering a new phase in 2023, as the recent uptrend of crypto asset prices has sparked a bullish sentiment in the market. Several positive predictions have emerged, including one from Ben Armstrong, the popular YouTuber known as BitBoy.

Armstrong, the author of the new book “Catching Up To Crypto”, recently took to Twitter to express his views on Bitcoin’s future price surge. He noted that the primary crypto asset has successfully broken the $18,000 barrier, and is now trading around $19,000. This is a notable improvement from its November 2022 price, which hovered around the $15,000 mark. Throughout December 2022, Bitcoin’s price was seen alternating between $16,000 and $17,000.

As for this year, Armstrong predicts that Bitcoin will gradually reach $25,000 or $30,000 within the next 10 to 15 weeks. This has led to a bullish sentiment in the crypto community, as more people are becoming more confident in their trades with Bitcoin. Armstrong also mentioned that, although the primary cryptocurrency is likely to reach a new price rally in 2023, it may not hit a new all-time high (ATH) this year.

Overall, the crypto market appears to be in a positive mood and the recent price gains of crypto assets have been a contributing factor. With Armstrong’s prediction of a Bitcoin price surge in the next few weeks, it is likely that the bullish sentiment will continue and the primary asset will reach its goal of $25,000 or $30,000.

• Peter L. Brandt, a career commodities trader, is claiming that the current cycle low for the crypto market, including Bitcoin, is now.
• He is basing this call for a bear market bottom on his past accurate predictions regarding cryptocurrency.
• He believes that Bitcoin’s behavior is “predictable” and should see a strong advance after the recent, nearly 80% decline.

Peter L. Brandt, a veteran commodities trader, recently declared that the current cycle low for the crypto market, including Bitcoin, is now. This call for a bear market bottom is being met with skepticism, however, Brandt’s chilling accuracy when making related calls in the past gives his latest prediction more weight.

Brandt is no stranger to the crypto market. In late January 2018, he called for an 80% decline in BTCUSD after the 2017 parabolic advance was violated. Eleven months later, his prediction of a sub-$4,000 Bitcoin price came true. He is now looking to the future, predicting that Bitcoin will not “run away to the upside” but rather will “work higher” toward late 2023 or early 2024 when the ATHs are retested. To support this analysis, he shared a chart on TradingView.

Brandt’s prediction of a Bitcoin cycle low comes as the cryptocurrency market is still reeling from the impact of the pandemic. Since its all-time high in December 2017, Bitcoin has lost over 80% of its value. The market has been in a steady decline since the beginning of the year, but recently the cryptocurrency has seen a minor recovery.

The veteran commodities trader believes that this recovery is only the beginning, and that Bitcoin is well-positioned to make a strong comeback in the coming years. His predictions are based on his past success in calling market bottoms and tops, as well as his analysis of Bitcoin’s behavior.

Only time will tell if Brandt’s predictions will come true, but given his track record of success, it’s likely that many investors will be keeping a close eye on his latest call for a cycle low in the crypto market. Only with the passing of time will it become clear if Bitcoin has, in fact, reached the bottom of its current bear market.

• The Monero price has rallied over the past week since the broader market recovered.
• XMR was consolidating despite its weekly gains, and the coin traded laterally over the past few sessions before it started to dip on its chart.
• Monero also displayed overbuying tendencies, and the recent fall in the asset’s value could be tied to a price correction.

The Monero price has been on an upward trajectory over the past week as the broader cryptocurrency market recovered. Over the last 24 hours, XMR has been consolidating despite its weekly gains, trading laterally over the past few sessions before it started to dip on its chart. The technical outlook of the coin is still favoring the bulls, as accumulation remains high on the chart despite a downtick in demand over the last trading sessions. Monero is also displaying overbuying tendencies, and the recent fall in the asset’s value could be tied to a price correction.

The market capitalization of Monero has decreased slightly, likely due to a decrease in demand for the coin over the last trading sessions. At the current price, the coin is trading at 70% below its all-time high of 2021. To prevent further losses, Monero must stay above its immediate support line. Looking forward, the coin is likely to resume its upward price movement if the broader market continues to recover.

• On-chain data shows that Bitcoin spot and derivative exchange reserves have both risen recently, indicating bearish price pressure in the market.
• This rise has been seen in the “exchange reserve” metric, which measures the total amount of Bitcoin that investors are depositing into wallets of centralized exchanges.
• A chart shows that both the spot and derivative exchange reserves have increased in value recently, suggesting that investors have been making deposits to these platforms.

As investors around the world continue to monitor the Bitcoin market, on-chain data shows that Bitcoin spot and derivative exchange reserves have both increased recently. This suggests bearish pressure in the price of Bitcoin, as the increased spot reserves indicate an elevated selling pressure, while the derivative reserves imply an over-leveraged market.

This rise in exchange reserves has been seen in the “exchange reserve” metric, which measures the total amount of Bitcoin that investors are depositing into wallets of centralized exchanges. As pointed out by an analyst in a CryptoQuant post, this metric has two versions; one is for the spot exchanges, while the other is for the derivative platforms. Investors usually deposit to spot exchanges for selling purposes, while they use derivative exchanges for opening positions on the futures market.

A chart from CryptoQuant shows the trend in these Bitcoin exchange reserves over the last month. It is evident that both the spot and derivative exchange reserves have increased in value recently, suggesting that investors have been making deposits to these platforms. This could lead to higher volatility in the Bitcoin market, with the effect on the price being in either direction.

It is important to note that the rise in exchange reserves is not always an indicator of bearish price pressure. It is important to consider other factors as well, such as the open interest and the funding rates. This will help investors gain a more comprehensive view of the Bitcoin market and make better informed decisions.