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Bitcoin Trader’s Father Liquidates $800,000 Home to Buy XRP

Abdulkarim Abdulwahab
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Bitcoin Trader’s Father Liquidates $800,000 Home to Buy XRP

A prominent Bitcoin trader disclosed how his millionaire dad liquidated his house for $800,000 to acquire XRP, urging the community to draw inspiration from the move.

Man Sells House, Goes All-In on XRP

Recently, a Bitcoin day trader with the X username “Myles G Investments” called attention to a bold move his father undertook regarding XRP that illustrates their confidence in the future potential of XRP.

Specifically, Myles disclosed that his dad sold his residential property for $800,000 and allocated the proceeds to purchase XRP.

Furthermore, the Bitcoin trader underscored his father’s extensive experience in the investment landscape. In particular, he revealed that his father has been actively investing and trading for over five decades.

Per the revelation, the veteran trader acknowledged that his audacious decision to sell a residential property for XRP would be the most consequential “home run” of his career.

 

When asked whether it was a real-life story, he responded affirmatively, confirming the authenticity of the account.

Don’t fade the XRP Investment

Amid this disclosure, the Bitcoin day trader urged the crypto community, “Don’t fade my Dad.” This statement implies a call to respect and recognize his father’s sound judgment about XRP. 

Moreover, Myles emphasized his father’s astute judgment by highlighting another crucial investment strategy that has demonstrated remarkable success. 

Specifically, he revealed that his father had guided him into the Bitcoin market when BTC was priced at only $7,000 and similarly into Ethereum when ETH traded at $200.

If Myles continues to hold onto his Bitcoin investment since 2019, when BTC was last seen at around $7k, it suggests he still retains a return on investment of over 630%, given BTC’s current price at $51,775.

Similarly, with Ethereum now valued at $3,004, Myles has witnessed at least a 1,400% ROI since the initial $200 purchase.

Essentially, the Bitcoin trader perceives potential in XRP in the forthcoming years. In a subsequent update, Myles disclosed some details regarding his XRP portfolio. He expressed his intention to profit when XRP hits between $3 and $7.

With XRP currently priced at $0.5468, it implies the Bitcoin trader is aiming for a potential gain of up to 1,180% from XRP in the upcoming months.

BlockDAG Shakes Up Crypto Market With 5000X Potential Project, Stuns Major Cryptos

Esra Zuhal
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BlockDAG Shakes Up Crypto Market With 5000X Potential Project, Stuns Major Cryptos

With the prospect of Ethereum ETF approval, crypto enthusiasts are on the edge, anticipating an Ethereum price surge and an overall market-wide uptrend. Amidst this fervent anticipation, investors are looking for opportunities with explosive growth potential, and presales stand out as the ultimate goldmines. Pushd (PUSHD) and BlockDAG (BDAG) have captured considerable attention. BlockDAG has stood out with its 5000x ROI potential project and has raised $1M in just 24 hours of its first presale batch.

Analyst Predicts Ethereum to Breach $3,500 Mark

Ethereum price has soared past $2900, igniting speculations about a potential up trend fueled by the prospect of forthcoming Ethereum ETFs. Many analysts are bullish on the price of Ethereum, the second top crypto asset by market capitalization. Some foresee a possible surge beyond $4000, following in Bitcoin’s footsteps in response to spot BTC ETF approval.

According to prominent analyst Michael van de Poppe, “the momentum will shift toward Ethereum when Bitcoin consolidates and calms down,” with Ethereum potentially hitting $3500-4000.

Pushd Sets Out to Change the E-Commerce Sector

Pushd (PUSHD), an emerging decentralised e-commerce platform, has entered stage five of its presale, trading at $0.094. So far, the presale has garnered over 25,000 registrants and is nearing its conclusion.

Set to become the first online shopping platform built on blockchain, Pushd presale has attracted considerable attention in the crypto community. Vendors on Pushd can choose which token they accept for their products, while shoppers can use PUSHD if they don’t hold the required token. Furthermore, the Pushd marketplace will eliminate KYC requirements, thereby reducing the barrier to eliminating e-commerce.

BlockDAG Presale Continues to Rock the Market

Having raised $1M in the first 24 hours of its first presale batch, the emerging PoW project BlockDAG is taking the crypto world by storm. Its rapid progression to the second presale batch further underscores the confidence of early investors. However, BlockDAG shows no signs of slowing, aiming to raise $600 million by year-end.

Aside from its presale success, BlockDAG’s allure comes from its clear and transparent roadmap and the ambitious goal of launching its mainnet within just 6 months. Furthermore, BlockDAG offers several revenue streams, including coin investments, mobile app mining, and innovative mining products, including a cloud mining option and a mining app accessible from both Google Play and Apple Store.

As a whole ecosystem of decentralized solutions, BlockDAG draws parallels to platforms such as Solana and Ripple. However, it distinguishes itself with its remarkable speed (currently at 10 blocks per second) and a never-before-seen fusion of  Proof-of-Work (PoW) with Directed Acyclic Graph (DAG) technologies. Despite its speed, however, BlockDAG doesn’t compromise security, safeguarding transactions with a hybrid consensus mechanism.

Currently, in the second batch of its presale, BlockDAG is available at $0.0015 per token. The token’s price increases incrementally with each subsequent batch, with the launch price set at $0.05, making the current presale price an attractive entry point for investors.

BlockDAG is doing a $2 million giveaway, with 50 randomly selected community members set to share the prize pool! To participate, follow these steps: Follow BlockDAG’s social media channels, submit your wallet address, increase your chances by completing all quests, and bring friends for extra entries.

Join the presale now before it ends and enjoy the maximized returns on your investments

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Ripple Exec Explains Why XRP and XLM Price Move in Correlation

Sam Wisdom Raphael
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Ripple Exec Explains Why XRP and XLM Price Move in Correlation

David Schwartz, the Chief Technology Officer (CTO) at Ripple, recently attempted to explain the reason behind the interesting correlation between the prices of XRP and XLM. 

Schwartz’s explanation came amid an extensive discussion around the impact of Ripple’s sales on XRP’s price dynamics.

Recall that the XRP community recently reignited these discussions as past internal conversations on Ripple’s programmatic sales of XRP took the spotlight.

Ripple Beckoned to Burn Monthly Escrow Releases

The Ripple CTO has dedicated some time to debunk these claims, stressing that the firm already stopped programmatic sales in 2020.

However, concerns of Ripple’s monthly escrow releases emerged, with some voices reiterating that the company should burn unlocked tokens not utilized every month.

Schwartz emphasized that burning these tokens would not have any substantial impact on XRP’s price. He cited Stellar’s history, when the Stellar Development Foundation incinerated half of XLM’s supply, amounting to 50 billion tokens, in November 2019.

According to David Schwartz, following this monumental burn, XLM’s price did not record any significant uptrend. Instead, XLM continued to move along with XRP’s price, a pattern that began in the past and was sustained despite the XLM burn. The token dropped with XRP and also surged with XRP.

Possible Explanations to XRP and XLM Price Correlation

This disclosure from Schwartz triggered another round of inquiries, as community members sought to understand the reason behind the strange correlation between XLM’s price movements and XRP’s price.

The Ripple CTO stressed that he does not have any proof that there is a logical explanation behind the price correlation. However, he presented a few possible reasons. 

According to him, one possible explanation is that the factors driving the price of XRP could be factors outside the XRP ecosystem that affect both XRP and XLM. Schwartz suggested this theory that XRP’s price is driven by external factors in a previous disclosure. 

He further explored two possible reasons behind the price correlation, but stressed that they may actually be wrong. One of them is that the market sees XRP and XLM comparable. However, as XRP is bigger than XLM, its price movements tend to drag XLM’s price due to this perceived comparability.

Schwartz said the second possible explanation is that there is someone or a group of people that are either manipulating the price of XRP or the price of XLM to ensure that both assets move alongside each other in an attempt to uphold a conspiracy.

Fundstrat Expert Highlights 3 Factors That Could Push Bitcoin Price to $150K 

Lele Jima
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Fundstrat Expert Highlights 3 Factors That Could Push Bitcoin Price to $150K 

Fundstrat’s head of research, Thomas “Tom” Lee, has issued an astounding price prediction for the world’s largest cryptocurrency by market capitalization, Bitcoin (BTC). 

During an appearance on the latest episode of CNBC’s Squawk Box, Lee forecasted that the price of Bitcoin would triple this year to around $150,000. 

3 Factors That May Propel Bitcoin Price Surge to $150K  

Interestingly, the top analyst highlighted three factors that could push Bitcoin to the projected $150,000 price target. 

Bitcoin ETFs to Boost BTC Demand

First, he speculated that demand for Bitcoin would continue to spike following the launch of multiple Bitcoin exchange-traded funds (ETFs) in the U.S. 

Since the SEC approved the launch of 11 Bitcoin spot ETFs on January 11, several market experts, including former CEO of BitMEX Arthur Hayes, believe these funds could attract billions of investments from TradFi. So far, Bitcoin ETFs have seen over $5 billion in net inflow since their debut in January. 

Per Lee, the massive inflow in Bitcoin ETFs would contribute significantly to bolstering BTC’s demand.   

Upcoming Halving 

Additionally, Lee highlighted the upcoming Bitcoin Halving event as the second factor that could drive the BTC price to $150,000 this year. 

For context, the next Bitcoin Halving is slated to occur in April 2024. After the event, Bitcoin miners’ rewards will be slashed to 3.125 BTC from the current 6.25 BTC. The rationale behind the quadrennial event is to counteract excessive inflation within the Bitcoin ecosystem. 

Potential Reduction of Interest Rates  

The third reason that could propel Bitcoin to hit the $150,000 target this year, according to Lee, is the potential reduction of interest rates by the Federal Reserve. 

Recall that in December, Fed’s policymakers predicted that they expect to cut interest rates by the end of 2024. According to the policymakers, a projection of three quarter-point rate cuts could happen towards the end of the year. 

Lee believes that cutting interest rates would benefit Bitcoin and other risky assets. 

Dollars Used in Illicit Trades Than BTC  

Besides predicting a spike in BTC price, Lee also debunked claims by crypto critics who suggest that Bitcoin is mainly used for illicit activities. 

Some famous Bitcoin critics who support this notion include Senator Elizabeth Warren and JPMorgan CEO Jamie Dimon. While debunking these claims, Lee pointed out that malefactors use the U.S. dollar more in illicit transactions compared to BTC. 

In the meantime, Bitcoin was trading at $51,233, down 0.1% over the past 24 hours. With Lee expecting Bitcoin to hit a target of $150,000 this year, the top asset would need to surge 192.78% from its current price. 

Rich Dad Poor Dad Author Sees Bitcoin Hitting $100K in June 

Meanwhile, Lee is the latest financial expert who expects Bitcoin to hit six figures this year. As reported earlier, top financial expert Robert Kiyosaki, the author of the personal financial literacy guide “Rich Dad Poor Dad,” also shared a similar sentiment. 

Notably, Kiyosaki predicted that Bitcoin price would spike to $100,000 in June, two months after the halving event.

Analyst Says Shiba Inu Set to Reclaim 12-Month High with 52% Rally

Abdulkarim Abdulwahab
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Analyst Says Shiba Inu Set to Reclaim 12-Month High with 52% Rally

A prominent trader has suggested Shiba Inu may reclaim its 12-month high in the coming days with a potential 52% rally.

Shiba Inu has struggled to hit and maintain the $0.00001 threshold over the past month despite the Bitcoin-induced rally that impacted the overall market.

Trading at around $0.000009569, Shiba Inu’s cumulative performance in the last seven days amounts to a negative growth of 2.32%. However, in the last 24 hours, the asset has flashed positive signs of recovery, with 1.60% gains.

Amid the gradually building momentum, Shiba Inu community figure “SHIB KNIGHT” has expressed confidence about the direction of the asset.

Road to 51.4% Rally

In a recent post on X, the prominent trader called attention to the formation of a symmetrical triangle on the weekly timeframe. 

The accompanying chart indicates that Shiba Inu’s patterns over the past few weeks have formed the symmetrical triangle, which suggests an exhaustion of the downtrend.

Considering the established patterns, the Shiba Inu trader argued that a successful breakout from the symmetrical triangle would lead the asst to claim a price far beyond the $0.00001 mark.

Specifically, he targets a Shiba Inu rally of 51.4% to reach $0.000014.

According to historical data from CoinMarketCap, Shiba Inu last traded in the $0.000014 range precisely one year ago. Essentially, the trader foresees Shiba Inu reclaiming this 12-month high in the coming days.

Meanwhile, SHIB KNIGHT pointed out that the breakout signal has not been fully confirmed yet, noting that it is still in motion.

Shiba Inu Set to Reclaim $0.000014

Last December, prominent analyst Ali Martinez forecasted Shiba Inu’s ascent to $0.000014, contingent upon meeting certain conditions.

He emphasized that the asset required a decisive weekly close above $0.000011, which did not occur. Meanwhile, the analyst noted that in case of failure, a pullback to $0.000008 might precede the bullish breakout to $0.000014.

Interestingly, Shiba Inu has recently touched the $0.000008 range. Whether the asset will progress toward $0.000014, as the two analysts suggested, remains to be seen.

Meanwhile, crypto community members have expressed frustration about the extended waiting period for the projected breakout to materialize. 

They lament that the bullish signals formed on SHIB’s chart are rather fickle, with Shiba Inu’s price staying relatively dormant.

VeChain (VET) Could Rise 58x to $0.9 or 146x to $2.4 Depending on Its Next Direction

Sam Wisdom Raphael
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VeChain (VET) Could Rise 58x to $0.9 or 146x to $2.4 Depending on Its Next Direction

Seasoned market analyst EGRAG expects VeChain (VET) to either rally 58x from its cycle low to $0.9 or 146x to $2.4 depending on the token’s next direction from here.

The market watcher disclosed his outlook in an analysis on X today. Data from an accompanying chart indicates that VeChain has been moving in a mild uptrend on the 3-day timeframe despite the recent market correction that has triggered a drop to the $0.04 price territory.

VET initially surged 97% from a low of $0.02612 on Jan. 23 to a high of $0.05145 last Friday before witnessing resistance from the bears. This resistance triggered the ongoing correction, but VeChain appears to be hedging against any dips below the $0.04 zone.

Amid this impressive resilience, EGRAG expects VET to embark on an explosive rally in the coming bull run. However, the analyst believes the crypto asset has two possible trajectories to follow. The path VeChain is likely to take would depend on the direction its price takes from the current position.

VeChain (VET) Could Rise 58x or 146x

EGRAG’s chart details historical context, showing that VeChain experienced similar price movements dubbed “Move A” and “Move B” in the past. VeChain followed Move A when it surged to a high of $0.0279 in July 2018. Meanwhile, the asset recorded Move B amid a rally to the ATH of $0.2798 in April 2021. 

According to EGRAG, if VET’s current movements mirror Move A, the token would surge to 0.9151, marking a 5,836% or 58x rise from the cycle low of $0.0154. However, if VeChain follows Move B, it could surge higher to a $2.4128 price, representing a 14,628% or 146x increase from the cycle low.

While the analyst is confident that VET will “unlock financial chains,” he remains uncertain of the path the token would take from here. VET currently trades for $0.04453, up 2.60% over the last 24 hours. The asset awaits a broader market resurgence to retest the $0.50 zone.

Bitcoin Could Surge to $57,000 As Long As This Support Holds

Mark Brennan
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Bitcoin Could Surge to $57,000 As Long As This Support Holds

Bitcoin remains on track to hit the $57,000 mark as long as it does not slip well below a crucial support level identified by market analyst Ali Martinez.

Bitcoin’s recent rally has stalled in the past week after a failed attempt to break above $53,000. Since then, the leading cryptocurrency has dropped as low as $50,400, within frequent runups to the $52,000 range.

However, popular crypto analyst Ali Martinez outlined another support level for investors to keep an eye on. Precisely, he notes that Bitcoin has a good chance of continuing its uptrend if it holds the support around $51,500.

An accompanying chart shows that the $51,500 mark is an important realized price distribution range for Bitcoin.

In other words, a significant amount of tokens (around 488,175 BTC) last moved within that price range. This amount is worth around $25 billion in BTC at current prices, with these buyers unlikely to sell unless prices drop significantly.

According to the statistics, the $51,500 range is the third-most important support level for BTC. The two other crucial support levels, given Bitcoin’s current prices, are $47,300 and $42,500.

At the same time, another crucial price level exists at around $57,000, which the analyst sets as Bitcoin’s next major price target.

It is noteworthy that while Ali Martinez backs Bitcoin to hold the $50,000 price range, others favor a mild pullback before the uptrend continues. A short-term correction could see BTC drop to $48,600 before a price reversal.

Bitcoin Eyes $100K Long-term

Despite Bitcoin’s short-term bearish trend, many popular predictions tip the cryptocurrency to eventually cross $100,000. The popular author of the best-selling book Rich Dad Poor Dad was the latest to make this forecast in recent times.

Meanwhile, investors must contend with the ongoing price consolidation and maintain optimism of a continued rally. The upcoming Bitcoin halving and inflows into the newly launched Bitcoin ETFs could all provide a tailwind for BTC in the coming months.

XRP Set for “Face-Ripping Rally”—Why XRP Price Surge May Just Be Beginning: Forbes

Abdulkarim Abdulwahab
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XRP Set for “Face-Ripping Rally”—Why XRP Price Surge May Just Be Beginning: Forbes

Forbes senior contributor Billy Bambrough has argued that the bullish rallies for digital assets like XRP may just be getting started compared to what was witnessed recently.

The foundation of this sentiment is the daring suggestions from leading market watchers about Bitcoin and its implication on XRP. 

Bambrough first highlighted the astonishing recoveries across the crypto space, noting Bitcoin has surged by 100% over the past year. XRP has recorded a notable 35% increase through the same period.

Emphatically, the bullish sentiments have propelled Bitcoin past the $50,000 mark, propelling its market capitalization above $1 trillion. The overall crypto market is now nearing reclaiming the $2 trillion mark.

Considering the market momentum, the Forbes senior contributor highlighted that prominent Bitcoin analysts are revising their Bitcoin price projection upward.

Top Analyst Comments on XRP Face-ripping Rally to $10

Specifically, Bambrough quoted Markus Thielen, head of research at 10x Research, who forecasted a target of $57,000 for Bitcoin. The Forbes contributor mentioned that at least three factors contribute to the optimistic outlook of these market analysts.

In particular, they cited the impending Bitcoin halving in April, combined with increasing interest from institutional investors through exchange-traded funds (ETFs) and the anticipation of a Federal Reserve interest rate cut.

For instance, Ben Weiss, CEO of CoinFlip, echoes the sentiment. He highlighted the global expansion of crypto innovations and the upcoming Bitcoin halving as catalysts for further growth. 

Similarly, influential figures such as Anthony Scaramucci of Skybridge Capital and Arthur Hayes of the BitMex exchange were cited for having predicted a “face-ripping rally” in the crypto market, fueled by falling interest rates and surging investor interest.

Last week, Hayes forecasted that a U.S. Federal Reserve policy reversal would trigger a surge in Bitcoin price, potentially reaching $1 million.

Notably, researcher Thielen emphasized that Bitcoin’s performance often dictates the trajectory of other major cryptocurrencies like Ethereum and XRP.

With Bitcoin at $51,314, it would experience a staggering 1,849% increase to reach $1 million. Applying a similar percentage increase to XRP, which trades at $0.5466, would elevate its value to approximately $10.65.

Bitcoin ETF Triggered Slump in Number of Non-Zero BTC Holders

Mark Brennan
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Bitcoin ETF Triggered Slump in Number of Non-Zero BTC Holders

The Bitcoin (BTC) network has seen a slump in the total number of non-zero addresses, a trend that was reportedly triggered by the emergence of Bitcoin ETF products.

Of the major metrics for assessing the health of the Bitcoin network, the number of addresses holding more than 0 BTC helps judge the true level of adoption.

Days after the United States Securities and Exchange Commission (SEC) approved spot Bitcoin ETF for trading, this metric started seeing reduced figures.

According to data from Santiment, in just a month, the number of non-zero Bitcoin addresses shrank by approximately 729,400.

Bitcoin In Reverse, Ethereum In Rebound Mode

The Santiment data showed that Bitcoin’s non-zero wallet addresses peaked at 52.95 million on January 20 but later dropped. According to Santiment, the reason for the slump was the exposure to spot Bitcoin ETF.

One of the major promotional strategies for these asset classes was the ease of adoption as it generally takes away the stress and risks in custody from the investor. Santiment suggested investors are gradually opting for the ETF version rather than the physical BTC.

While Bitcoin has recorded a slump in its non-zero addresses, Ethereum (ETH) and Tether (USDT) have coasted to their All-Time Highs of 114.95 million and 5.22 million holders, respectively. 

Drawing on the trend with Bitcoin, Santiment is now drawing an inference that other assets like Ethereum, which may get spot ETF in the future, might experience a corresponding drop in their non-zero wallets.

Whales are Accumulating Bitcoin

Bitcoin as an asset class has always been appealing to both retail and institutional investors. However, the spot BTC ETF product has tilted the balance. 

There is an increasing embrace of Bitcoin by asset managers who, according to CryptoQuant co-founder Ki Young Ju, are now accumulating BTC ETFs.

Should this accumulation trend continue, it might significantly trigger a growth in the price and market capitalization of Bitcoin which are currently up 1.30% to $51,629.83 and $1,013,737,622,244.

Polygon Completes Final Unlock Valued at $253M: What Does This Mean for MATIC Price?

Mark Brennan
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Polygon Completes Final Unlock Valued at $253M: What Does This Mean for MATIC Price?

On-chain data shows that the Polygon team has received its last batch of vested tokens, sparking speculation on how this might potentially impact the price of MATIC.

Following the Polygon (MATIC) offering in 2019, the team behind the project received a percentage of vested tokens to be unlocked over the next five years. Locked in a vesting contract, the last batch of tokens were recently released, on-chain data shows.

The Polygon Foundation received 273.3 million tokens (worth $253 million ) in the last transaction, which occurred at around 03:36 PM +UTC on February 21. Following this unlock, the vesting contract is now empty, setting a new milestone for the blockchain project.

The latest and final unlock means that MATIC’s circulating supply is now over 96% of its total supply. Of the 10 billion tokens for the cryptocurrency, 9.61 billion MATIC is now in circulation, with the rest evidently on track to unlock over time for users who stake MATIC to secure the network. 

It is noteworthy that the Polygon Foundation still holds the freshly unlocked tokens at the time of writing. However, the large transfer has sparked speculation on what it could mean for the price of the cryptocurrency in the short and long terms. 

What the Final Unlock Could Mean for Prices?

The Polygon Foundation is a steward of the blockchain project and typically uses its allocations to meet its operational demands and other community incentives. Hence, the freshly released tokens may, over time, be released into the tradable market. 

Nonetheless, any such actions could have only a potential short-term impact on the price of the asset as the Foundation looks to liquidate its holdings in a manner that does not impact prices negatively in a significant way.

At the same time, being the last unlock means the team may have a greater incentive to hold the asset, as it shows their commitment to the project’s long-term success.

However, a final unlock is generally considered bullish for cryptocurrency projects. It means that the asset has less selling pressure as the team will no longer have more tokens to liquidate over time. Only a handful of projects in the top 20 coins by market capitalization have reached that milestone.

Meanwhile, MATIC has surged 8% in the past week, briefly climbing above the $1 mark for the first time since last December. The token has since retreated to $0.97 at the time of writing, but is projected by popular analyst Ali Martinez to soar in the coming weeks.

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