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Bitcoin 'Massive Rally' Predicted as Buy Signal Hits First Time in a Year

BTC price breakout talks return as the popular hash ribbons indicator signals "buy" for the first time in 2024.

• Main Points:

  • Hash Ribbons Buy Signal: BTC enters long-term “buy” territory for the first time since mid-May.

  • Miner Capitulation Over: Hash ribbons show that Bitcoin miners have exited their latest capitulation period.

  • Anticipated Rally: Historical data suggests an explosive rally could follow this buy signal.

• Detailed Insights:

  • Hash Ribbons Buy Signal: The hash ribbons indicator has shown a "buy" signal, marking the first time in 2024 that BTC is in long-term “buy” territory.

  • Miner Capitulation Over: Bitcoin hash ribbons, which track moving averages of hash rate, indicate that miners have exited their latest capitulation period.

  • Anticipated Rally: Historical trends suggest that this buy signal could lead to an explosive BTC price rally, as seen in past instances.

  • Current BTC Hashrate: As of July 22, Bitcoin hashrate stands at 676 exahashes per second (EH/s).

  • BTC Price Action: Despite current sell-side pressures, BTC price recovery has lifted the market past $68,000, with potential for further gains.

Related: Trader Warns of BTC Price Peak After $530M ETF Inflows.

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Kiyosaki Predicts $105K Bitcoin and $3.3K Gold if Trump Wins

Rich Dad Poor Dad author Robert Kiyosaki predicts that if Donald Trump is re-elected as U.S. president, the dollar will weaken, leading to increased prices for gold, silver, bitcoin, and other assets. He forecasts gold will rise from $2,400 to $3,300 an ounce, silver from $29 to $79 an ounce, and bitcoin from $67,400 to $105,000 per coin by August 2025.

• Main Points:

  • Kiyosaki’s Predictions: Gold to $3,300, silver to $79, and Bitcoin to $105,000 by August 2025.

  • Reasoning: Trump’s policies would weaken the dollar, boost exports, and raise asset prices.

  • Criticism of Biden: Contrasts Biden’s policies, blaming them for high inflation.

• Detailed Insights:

  • Kiyosaki’s Predictions: Robert Kiyosaki, author of Rich Dad Poor Dad, predicts a surge in asset prices if Donald Trump is re-elected. He forecasts gold to rise from $2,400 to $3,300 an ounce, silver from $29 to $79 an ounce, and bitcoin from $67,400 to $105,000 per coin by August 2025.

  • Reasoning: Kiyosaki argues that Trump’s policies would weaken the dollar, increase exports, create jobs, and boost the prices of gold, silver, bitcoin, stocks, and real estate. He emphasizes that Trump’s plan for extensive oil drilling would lower oil prices, contributing to these economic changes.

  • Criticism of Biden: Kiyosaki criticizes President Joe Biden’s policies, particularly the cancellation of the Keystone XL pipeline, which he claims caused oil prices to jump and led to massive inflation. He contrasts this with Trump’s policies, suggesting that they would have the opposite effect.

Related: Robert Kiyosaki: How to Make Money in Your Sleep

ETH Traders Brace for Surprises Post-ETF Launch

Despite a muted reaction following the debut of spot Ether exchange-traded funds (ETFs), analysts predict Ether (ETH) could achieve unprecedented highs in 2024. Key factors include large amounts of staked Ether and positive market sentiment.

• Main Points:

  • Analyst Prediction: Ether could reach unprecedented highs in 2024.

  • Key Factors: Staked Ether, ETF launches, and positive sentiment.

  • Current Market Sentiment: Bullish with a put-call ratio of 0.27.

  • Price Expectation: Near-term goal of hitting the November 2021 high of $4,890.

  • Short-term Outlook: Price may be choppy for the next 30 days.

• Detailed Insights:

  • Analyst Prediction: Swyftx lead market analyst Pav Hundal told Cointelegraph that traders should “expect the unexpected” for Ether's future price movements. He highlighted that Ethereum has the potential for an unprecedented rally, driven by multiple favorable factors.

  • Key Factors: Hundal cited a large amount of Ether currently being staked, which reduces its available supply and contributes to its price stability. Additionally, the recent launch of Ether ETFs and positive sentiment in the options market support a bullish outlook.

  • Current Market Sentiment: The market sentiment remains bullish with a put-call ratio of 0.27, indicating a strong belief in upside potential among speculators. This positive sentiment could drive further price increases in the near term.

  • Price Expectation: While Hundal refrained from making a precise price prediction, he suggested that the nearer-term goal is for Ether to reach its all-time high of $4,890 in November 2021. However, he noted that the price might be volatile over the next 30 days.

  • Short-term Outlook: Ether's price experienced a slight drop of 0.42% following the debut of spot ETFs, with $106.6 million in net inflows. Despite the lack of immediate price fireworks, the long-term outlook remains positive. Permanent holder addresses acquired a record 714,000 ETH worth $2.4 billion just before the ETFs started trading, indicating strong investor confidence.

Related: Blackrock: Ethereum ETFs Are About To Happen!

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results