The Bitcoin price took a sharp downturn recently, dipping below $67,000 and raising concerns among investors. However, a crypto analyst has encouraged the crypto community to buy more Bitcoin at this time, suggesting that the decline presents an opportunity to acquire BTC at a lower price. 

Bitcoin Decline Signals Prime Buying Opportunity

Michael van de Poppe, a popular crypto analyst and enthusiast, has remained optimistic about Bitcoin’s future outlook, urging the broader crypto community to view the cryptocurrency’s recent dip as a buying opportunity.

Related Reading: Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree

In a recent X (formerly Twitter) post, the analyst shared insights on the crypto market, noting the regular occurrence of both bullish and bearish activities, which contribute to the market’s balance and stability. He also revealed that price corrections were normal in the crypto market, independent of market performance or conditions. 
Poppe has encouraged investors and crypto enthusiasts to buy more Bitcoin now that the price is currently trading at $66,528, according to CoinMarketCap. Over the past week, the cryptocurrency has witnessed significant price declines, plummeting by 4.64%.  
This unexpected price decline has been attributed to the crackdown on Silk Road Bitcoin, an online black market that allows users to purchase illegal and unethical commodities anonymously using Bitcoin. 
According to ZachXBT, a crypto community member, the United States government transferred 30,175 BTC worth $2.1 billion of Silk Road hack funds to Coinbase. This massive Bitcoin transaction has possibly led to the cryptocurrency’s present decline, fueled by bearish news and market volatility. 
“At peak bullish momentum, you’ll see a huge impact of every bearish narrative. This time, it’s the Silk Road Bitcoin being transferred. Anyway, buy the dip,” Poppe stated. 

BTC’s Peak Anticipated Before Halving Event

In another X post, Poppe revealed disheartening news, noting that a critical price zone had been lost for Bitcoin. The crypto analyst asserted that the cryptocurrency would not witness a surge to new all-time highs during this pre-halving phase unless it breaks through resistance levels at $69,000. 

Related Reading: Solana Whales Are Making Moves – Here’s The Direction They’re Headed In

The analyst foresees a period of consolidation for BTC, highlighting that during this time altcoins are expected to gain traction while Bitcoin undergoes a correction phase. He further disclosed that a price correction for Bitcoin indicates a healthy and organic market cycle.
Poppe has stated that Bitcoin’s area of interest lies between the range of $56,000 to $60,000. Concluding his post, the analyst further encouraged investors to acquire Bitcoin, emphasizing that “dips are for buying in these markets.”

BTC price recovers from dip | Source: BTCUSD on Tradingview.com

Featured image from CNBC, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: bitcoinBitcoin newsbitcoin pricebtcBTC newsbtc pricebtcusdB

Fear Grips XRP Market As Liquidations Top $6 Million – Details

The cryptocurrency market continues to feel the tremors of a brutal April Fools’ Day price crash, with XRP taking a significant hit. In the last 24 hours, a staggering $6 million in XRP contracts were liquidated, according to Coinglass data. This liquidation frenzy can be attributed to the sharp price decline experienced by XRP on April 1st.
The new month began with XRP trading around $0.61. However, a domino effect triggered by Bitcoin’s plunge below $67,000 sent shockwaves through the market, dragging down XRP along with other major cryptocurrencies.

Related Reading: Canine Comeback? KNINE Brushes Off 50% Loss, Gets Listed On Major Exchange

Looking deeper into the liquidation data, a clear trend emerges. A whopping $5.6 million of the liquidated contracts were long positions, indicating that traders who bet on XRP’s price increasing were forced out of their positions. Conversely, short positions, which profit from price decreases, saw a significantly smaller liquidation value of $324,200.

Market Contrasts: XRP’s Uncertain Path

Interestingly, the situation on the spot market, where actual cryptocurrency is bought and sold, presented a contrasting picture. XRP’s trading volume surged by nearly 60% during the same period when these hefty liquidations occurred.
While a surge in volume might suggest increased buying activity, a closer look reveals a dominance of selling pressure. The price action suggests that a significant portion of this volume resulted in selling rather than accumulation.

XRP price down in the last week. Source: CoinMarketCap

This trend of rising volume alongside a falling price indicates that the downward momentum for XRP might persist. If this selling pressure continues unabated, analysts predict a potential drop in XRP’s price towards the $0.55 support level.
With these conditions in play, XRP’s future appears uncertain. The token faces the risk of getting caught in a market bloodbath. However, it’s important to acknowledge dissenting viewpoints. Some analysts hold a different perspective and predict a potential short-term upside for XRP, with a price target of $0.74.

Bitcoin is now trading at $66.117. Chart: TradingView

XRP’s Stable Funding Rate Amidst Bearish Sentiment

Meanwhile, amidst the bearish sentiment, a glimmer of optimism emerges from technical analysis. Despite the high liquidation value, XRP’s funding rate has remained stable. In simpler terms, a positive funding rate implies that traders holding long positions (expecting a price increase) are currently paying a premium to those holding short positions (expecting a price decrease).

Source: Coinglass

This can be interpreted in two ways. It could suggest that some traders still believe in a potential XRP price increase, or it could indicate that short sellers are willing to pay a premium to maintain their bearish positions.
Related Reading: Shiba Inu Fires Up With 4,000% Burn – Price Rebound Coming?
NewsBTC’s analysis indicates that XRP’s Funding Rate currently sits at 0.030, slightly higher than the predicted rate of 0.029. Should the Funding Rate hold positive while the price continues to decline, those holding long positions might not receive the usual funding payments. This scenario could further exacerbate the bearish bias and empower aggressive sellers.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: altcoinbitcoinPrice actionprice analysisxrp

10 Best Free Bitcoin Cloud Mining Sites in 2024- The best way to earn passive income

The best free cryptocurrency mining apps simplify the mining process and reduce the amount of technical setup.
Computing power is used throughout the cryptocurrency mining process to create a cryptocurrency. Users employ desktop computers, CPUs, GPUs, and other computing devices to carry out the mining using apps, hardware, and software. There are various reasons why cryptocurrency is mined, but the most obvious one is to produce digital money.
The number of cryptocurrencies available is expanding steadily, adding to the thousands already present. Apps are used by miners to create new coins using computational resources. Because of this, the main advantages of adopting crypto mining apps include employing already-existing hardware and software resources to mine, acquire, and store coins for upcoming transactions, among other things. These Apps rely on cloud mining, which is more accessible than conventional mining. The built-in software makes use of the computer’s CPU to solve the algorithms required to produce new coins. The 10 best free Bitcoin cloud mining websites in 2024 are as follows:
1.ARKMining
2.Ecos
3.Binance
4.CG Miner
5.Nice Hash
6.Mobile Miner
7.Awesome Miner
8.Storm Gain
9.Zionodes
10.MinerGate

1.ARKMining

ARKMining is a leading cloud mining company that has been providing trusted services since 2017. It provides services in more than 176 countries and has more than 650,000 active users worldwide. They are committed to providing users with a safe and comfortable cloud mining experience.

Key features include:

• Sign up and get a $50 bonus
• High profitability levels and daily payouts
• No service or administrative fees
• Ability to generate 6+ other currencies using the platform
• An affiliate program that allows you to earn up to 3.5% referral bonus
• McAfee® and Cloudflare® security
• 100% uptime guarantee and 24/7 superior technical support

Contract priceContract termsFixed returnDaily rate$501 Days$50+$12%$2001 Days$200+$52.5%$6003 Days$600+$29.701.65%$12005 Days$1200+$108.001.8%$36006 Days$3600+$410.401.9%
As the cryptocurrency market continues to boom, the value of mining equipment continues to increase, which can bring additional profit margins to users. The website is user-friendly and easy to navigate. It offers a variety of plans with low investments and no hidden fees. It also has many cryptocurrency affiliate programs that customers can participate in to earn extra income.
If you are looking for a safe and profitable way to invest in cryptocurrencies, ARKMining is the perfect choice for you as it offers a wide range of features and benefits that can help you grow your wealth.
To learn more about ARKMining, visit arkmining.com

2.Ecos

With the full-service portal Ecos, investors can access a Bitcoin wallet, exchange, cryptocurrency mining contracts, and portfolios. For ECOS, a useful mobile app is accessible. You can download it from Google Play or the App Store. Cloud mining agreements, which are made specifically for Bitcoin mining, offer the best Bitcoin mining experience.

3.Binance

The first legitimate cloud mining provider is Binance, which was established in 2017. Almost 90,000 users from around the world utilize Binance. In addition to cloud mining, it is a fully-fledged investing platform that also offers wallets, exchanges, investment portfolios, and savings. There is a helpful mobile app from Binance. It can be found on Google Play and the App Store. Cons and Pros.

4.CG Miner

CGMiner is a Bitcoin mining program that often enables users to mine the cryptocurrencies Litecoin and Fogecoin. The app, which was created in 2011, is more adaptable and open-source, enabling it to scale up mining activities quickly. CGMiner is a command-line application with a more difficult learning curve than other apps. Users of the software can control mining machines using keyboard inputs. It is compatible with Linux, Mac, and Windows.

5.Nice Hash

A marketplace for hash rates, a cryptocurrency mining tool, and a cryptocurrency exchange platform are all included in the free mining program Good Hash. When it comes to mining, Nice Hash offers two options: its internal mining app, NiceHash Quickminer, or any external miner app with Nice Hash Miner. It works with 2Miners, F2Pool, SlushPool, and other pools. Moreover, Nice Hash provides an iOS and Android app.

6.Mobile Miner

Using real-time computations, graphs, and algorithms, Mobile Miner enables the mining of Cryptocurrencies directly. The program displays all mining statistics as well as the most recent hashing computations. The user can use the app to control all remote mobile miners; the app does not mine itself.

7.Awesome Miner

One of the greatest free Bitcoin mining applications for managing and keeping track of the performance of numerous miners from a single dashboard is Fantastic Miner. Via this dashboard, users can keep an eye on things like the mining hash rate, fan speeds, device temperature, and revenue. It supports more than 50 mining software programs, similar to Cudo Miner. Both Windows and Linux users can use Awesome Miner.

8.Storm Gain

The user-friendly dashboard of the Bitcoin mining program Storm Gain lets you observe how assets are rising and declining. The charting capabilities in this software can be used to monitor trends and price changes. You may mine for digital currency using the software without buying expensive equipment. Both native apps for Android and iOS, as well as a web application, are available for StormGain.

9.Zionodes

The easiest BTC mining site to utilize, Zionodes enables customers to sign up and start mining right away. The finest feature is that users’ earnings are updated every minute on their dashboard, which is dynamic. Zionodes runs on remote mining modules, in which customers own the miner and may use it at their discretion. This makes it a superior option to other cloud mining services.

10.MinerGate

An open mining pool called MinerGate was established in 2014 to reduce costs and increase efficiency in mining. The user interface and overall experience of MinerGate are fantastic. The MinerGate software is simple to install, and you can start mining cryptocurrencies right away. Users of the software can manage and monitor their coins. The software mines several currencies using CPU and GPU.

Disclaimer and Risk Warning

This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.

Bitcoin, Ethereum, XRP Price Prediction For 2024: Here’s What to Expect

Story Highlights

• Crypto analyst Credible predicts a bull run for Ethereum (ETH) with a potential surge past $10,000, fueled by Bitcoin's expected growth.
• XRP is also forecasted for a significant rise, possibly reaching above $10, despite a short-term dip.
• While Bitcoin might experience sideways movement initially, Credible anticipates a breakout and long-term growth.

Forecasts hold significant sway in the crypto world, especially when they come from a respected analyst like Credible. Recently, Credible shared his ambitious predictions for Ethereum (ETH), Bitcoin (BTC), and XRP, sparking renewed optimism among investors.

Here’s a breakdown of what he had to say.

A Bright Future for Ethereum

Ethereum enthusiasts have reason to cheer as Credible paints an encouraging picture of the altcoin’s trajectory. According to his analysis, Ethereum is set for a remarkable surge, potentially surpassing $10,000 and even reaching $20,000 during the ongoing bull market. This optimism is rooted in Credible’s expectations for Bitcoin’s performance, suggesting BTC could double from its previous all-time high of $69,000.

$10,000+ minimum. I think theres a chance we can come up on a peak/blow off top near 20k.

It's pretty simple- I think $BTC can realistically 2x from our last high at 69k- which means most alts will do multiples of that.

For $ETH, a 3-4x of prior ATH puts us at 15-20k. https://t.co/LfH6WyNtFY
— CrediBULL Crypto (@CredibleCrypto) March 31, 2024

Read More: Big Move Ahead? Reports Hint at $2 Billion Bitcoin Sell-Off by US Government
Encouraged by this bullish sentiment, Credible foresees significant growth for most altcoins, including Ethereum. A projected 3-4x increase from its previous peak could propel Ethereum into the $15,000-$20,000 range. Despite a recent dip in Ethereum’s price to $3,484, reflecting a modest decline of over 3% in the last 24 hours, Credible remains steadfast in his long-term outlook for the cryptocurrency.

I made a mistake here. I was looking at fully diluted valuation for XRP.

Reality is at current circulating supply a 10k ETH is equivalent to a $20+ $XRP.

So if you think $10 is impossible for XRP but 10k ETH is realistic for ETH you need to check your bias real quick.

Both… https://t.co/IPsElR7xBx
— CrediBULL Crypto (@CredibleCrypto) March 31, 2024

A Surge Incoming?

Shifting focus to XRP, Credible anticipates a potential breakthrough, suggesting XRP could surpass the $10 mark. He points to XRP’s past achievement of surpassing Ethereum’s market cap in a previous market cycle, indicating the possibility of significant gains for the altcoin.
With XRP currently trading at $0.614, Credible’s forecast underscores the resilience of XRP, despite occasional setbacks, and hints at imminent new highs.

$BTC probs going to continue ranging for a few more days at least. Bids now capping price on the downside (or attempting to) the same way asks were capping upside earlier. OI is building up though so we should get some nice volatility once we break out of this range. pic.twitter.com/zIF3DjlfES
— CrediBULL Crypto (@CredibleCrypto) March 29, 2024

Bitcoin is Building Momentum!

All eyes are on Bitcoin’s next move, especially with the looming halving event. While initial projections speculated a surge beyond $80,000 before the halving and even higher figures afterward, Bitcoin’s price trajectory has been less predictable. However, Credible remains optimistic about the cryptocurrency’s long-term prospects, despite potential short-term fluctuations.
In the near term, Credible suggests Bitcoin may continue to trade sideways for a brief period. He notes a consolidation of bids, indicating potential support levels, coupled with a buildup of open interest, hinting at imminent volatility once the market breaks out of its current range.
With Bitcoin currently trading at $68,508, investors eagerly await clarity on the market’s direction.
This Might Interest You: Top 10 Altcoins for Biggest Returns in 2024

Market Pullback Soon?

Exploring the recent market pullback, Kristian Haralampiev, Nexo’s Structured Products Lead, attributes the downturn to profit-taking by investors capitalizing on peak market conditions. Haralampiev highlights increased cryptocurrency volumes flowing into exchanges, particularly from short-term traders enjoying profits, as per data from Glassnode.
Despite the unexpected pullback amidst expectations of Bitcoin scaling new heights, both Credible and Haralampiev view it as an opportune moment for latecomers to enter the market ahead of the next Bitcoin halving event.
Altcoins Price Analysis