Home Blog Page 341

Expert Says If You Hold XRP, a Time Will Come When You Won’t Know Exactly How Much Money You Have

Abdulkarim Abdulwahab
-
0
Expert Says If You Hold XRP, a Time Will Come When You Won’t Know Exactly How Much Money You Have

Finance commentator and XRP supporter John Squire says that people who hold XRP for a long time may one day lose track of how much their investment is worth.

His comment highlights strong optimism among holders about XRP’s future and its role in global finance.

While XRP remains under $2 today, Squire wrote on X that XRP holders may reach a point where they no longer know their exact wealth because the asset has grown so much.

Popular Hope to Get Rich via XRP

Many XRP supporters believe its value could increase over time due to factors such as institutional adoption, ETF investments, and real-world use cases. They paint a long-term future in which even modest holdings could turn into substantial wealth for investors.

This perspective is widely shared among XRP supporters. For instance, an NFT project founder named Bark has said XRP could help many people retire one day.

Meanwhile, questions continue to circulate about how high XRP’s value could reach and how many tokens retail investors would need to hold for their financial situation to significantly change through price appreciation.

The Numbers at Today’s XRP Price

Many analysts have described holding between 1,000 and 10,000 XRP as a meaningful long-term position for retail investors. Some, like Edoardo Farina, call 1,000 XRP the minimum, arguing that those holding less are not serious about their finances.

At the time of writing, XRP is trading at $1.85. Accordingly, it costs $1,850 to buy 1,000 XRP tokens, about $9,250 for 5,000 XRP, and roughly $18,500 for 10,000 XRP.

The view among XRP supporters is that these holdings are more likely to reach million-dollar valuations in the future. However, forecasts for XRP vary widely.

Telegaon projects XRP’s price could trade between $80 and $120 between 2035 and 2040. At $100, 1,000 XRP would be worth $100,000, a six-figure amount.

Meanwhile, 5,000 XRP would be worth $500,000, and 10,000 XRP would reach $1 million, elevating such holders to millionaire status.

Changelly’s more aggressive outlook places XRP between $150 and $200 in the same timeframe. At $200, a 10,000 XRP position would be worth $2 million.

Telegaon price prediction
Telegaon price prediction

Some analysts, such as Jake Claver, have even floated four-digit price scenarios if XRP becomes deeply embedded in global payment infrastructure.

While optimistic, these outlooks are highly speculative. They would require several thousand percent price growth for XRP and a market capitalization approaching $60 trillion. Many consider it unrealistic.

Institutional Strength

Optimism around XRP has also been supported by institutional interest. Recent spot XRP ETF launches by firms such as Franklin Templeton, Grayscale, Bitwise, and Canary Capital have reportedly absorbed $1.25 billion worth of XRP in a short period.

Market watchers believe that sustained ETF inflows, combined with corporate treasury adoption and XRP’s role in cross-border payments, could create long-term supply pressure. This has led some analysts to suggest XRP could reach double-digit prices sooner than many expect.

Long-Term Message, Not a Price Prediction

Ultimately, John Squire is not predicting a specific price for XRP. Instead, he is highlighting how long-term growth could change an investor’s financial situation over time.

While there is no guarantee that XRP will reach extremely high prices, many supporters believe its current valuation does not fully reflect its utility.

Pundit Says Triple-Digit XRP by Year-End Was “the Most Stupid” Call to Make

Mark Brennan
-
0
Pundit Says Triple-Digit XRP by Year-End Was “the Most Stupid” Call to Make

An XRP community pundit has challenged previous suggestions that XRP could reach triple digits this year, calling the prediction “stupid.”

Notably, 2025 has come to an end, and XRP is on the verge of closing the year with a 10% decline, which would make this its first bearish annual close since 2022. Interestingly, this discouraging performance, which began in the fourth quarter, contrasts with the crypto asset’s price action earlier in the year. 

The “Most Stupid” Call

Amid the multiple audacious XRP price predictions, the XRP to $100 call has stood out, as community figures who expressed doubt when these projections emerged have continued to criticize them. Recently, Mason Versluis, an XRP community pundit, took a jab at this ambitious target.

According to him, the “triple-digit XRP by the end of 2025” call represents the “most stupid” commentary he has heard all his life. Versluis pointed out that the year is less than 48 hours away from closing, and XRP is nowhere close to this target. Notably, XRP currently trades for $1.86, and would need to rise by 5,276% in a day to reach the target within this window.

Mason Versluis on X
Mason Versluis on X

Versluis stressed that even if he had heard this prediction at the start of the year, he would have expressed the same criticism. This is despite XRP’s stellar start to the year, which saw it breach the $3 mark for the first time in eight years. 

The market pundit argued that everyone who made this prediction would be wrong. According to him, the XRP community should first focus on readily attainable targets like $10. For perspective, XRP would still need to rally 437% to reach the $10 price. However, such an upsurge remains highly feasible in the near term, especially if market conditions improve.

The Triple-Digit XRP Price Prediction

For context, Versluis’ comments come amid increased discussions surrounding the XRP to $100 prediction. Notably, XRP began the year at $2.07, and immediately shot up to a peak of $3.4 in January, representing a 64% uptick in less than a month. 

This upsurge built on the existing rally from November 2024 and bolstered bullish sentiments, leading to ambitious price predictions surrounding XRP.

One such price prediction suggested that XRP could actually reach $100. Notably, Jake Claver, CEO of DAG, was one of the individuals who championed this projection as the year progressed. When he faced criticism for the prediction, Claver doubled down, insisting that XRP could indeed hit $100 by year-end.

As a result, Levi Rietveld, another XRP community pundit, challenged him to a bet. While Claver did not publicly accept this bet, the community has continued to monitor the development, especially as the year comes to an end. With 5 days left to go, Claver still insisted that he was 99.9% sure that XRP would record a shocking move this year.

Arthur Hayes Dumps $5.5M in Ethereum to Buy DeFi Tokens

Zabi
-
0
Arthur Hayes Dumps $5.5M in Ethereum to Buy DeFi Tokens

Arthur Hayes, co-founder of BitMEX, has made a notable shift in his crypto portfolio, reducing his exposure to Ethereum while increasing allocations to DeFi tokens.

Blockchain analytics firm Lookonchain reports that Hayes sold 1,871 ETH, worth approximately $5.53 million, over the past two weeks. The sales significantly trimmed his Ethereum position amid continued price weakness in the asset.

Capital Redirected Into DeFi Projects

Following the Ethereum sale, Hayes quickly reallocated funds into several projects within the DeFi space.

On-chain data shows that he acquired 961,113 PENDLE tokens valued at approximately $1.75 million. Additionally, he purchased 2.3 million LDO tokens for $1.29 million and added 6.05 million ENA tokens for nearly $1.24 million. He also accumulated 491,401 ETHFI tokens, worth an estimated $343,000.

Moreover, Hayes withdrew $2.52 million from centralized exchanges and redirected the funds into DeFi-related assets. As a result, DeFi tokens and stablecoins now make up more than 60% of his total crypto portfolio.

Meanwhile, his Ethereum allocation has declined considerably. At the time of publication, Hayes holds 3,160 ETH, valued at approximately $9.4 million.

PENDLE Emerges as a Core Holding

Among his DeFi positions, PENDLE has become the dominant holding, accounting for 48.9% of his DeFi exposure. This, in turn, suggests a notably strong conviction relative to his other investments in the sector.

The portfolio reshuffle aligns with Hayes’ broader strategy of accumulating assets he believes are undervalued. Many of the DeFi tokens he has acquired have recently undergone prolonged price declines. 

Despite this, Hayes remains optimistic, citing expectations that improving fiat liquidity conditions could provide a tailwind for DeFi markets.

Ethereum Sales Stir Market Discussion

At the same time, Hayes’ Ethereum sales have fueled debate around broader market sentiment. ETH has struggled to reclaim the $3,000 level, and large-scale sell-offs have added to investor caution.

However, this shift is not unprecedented. For instance, a week earlier, Hayes transferred 682 ETH ($2 million) to Binance, a move that also preceded further DeFi investments.

Taken together, these actions point to a clear strategic preference for DeFi tokens over large-cap layer-one assets.

Cardano Founder Says Gemini Lost Over $70 Million by Not Listing ADA

Lele Jima
-
0
Cardano Founder Says Gemini Lost Over $70 Million by Not Listing ADA

Cardano founder Charles Hoskinson has criticized Gemini for refusing to list ADA, arguing that the decision cost the platform $70 million in lost revenue.

Speaking in an interview with Blockchain Daily, Hoskinson highlighted Gemini as the only major crypto exchange that does not support ADA, despite the token’s widespread adoption and popularity.

Gemini Refuses to List ADA

He emphasized that ADA is a top-10 cryptocurrency currently trading on Binance, Coinbase, and other major exchanges. However, despite the token’s prominence in the industry, Gemini has snubbed ADA, refusing to list it for trading on its platform.

Rather than attributing the situation to technical limitations, Hoskinson framed it as a puzzling business decision. He further suggested that the issue may stem from a misunderstanding involving one of Gemini’s founders, Tyler or Cameron Winklevoss, rather than any shortcomings with Cardano or its technology.

Gemini Missed Out on $70M by Not Listing ADA

Hoskinson noted that Gemini has paid a significant financial price for its refusal to list ADA. Citing Cardano’s historical performance and trading activity, he said internal estimates suggest that Gemini could have generated more than $70 million in fees had it listed ADA.

In his view, someone within the organization made a decision that ultimately hurt the exchange, while competitors capitalized on ADA’s popularity. During the interview, he recounted raising the issue directly with one of the Winklevoss twins, Gemini’s co-founders, during a meeting in Washington, D.C.

Despite directly questioning Gemini over its refusal to list ADA, the exchange has so far shown no sign of changing its stance. He noted that Gemini’s refusal to list ADA reflects a broader issue in the industry, where a few exchanges have proven difficult to work with.

ADA Remains Resilient Among Crypto’s Top 10

Meanwhile, Hoskinson pointed to ADA’s longevity and resilience as evidence that Gemini’s stance is increasingly out of step with market realities. He emphasized that while the composition of the crypto top 10 has shifted repeatedly since 2017, Cardano has consistently remained in the rankings.

For context, Cardano rose to become the third-largest cryptocurrency in 2021, with its price peaking at $3.10 in September 2021. Although ADA later suffered a sharp decline to around $0.35, it still ranks as the 10th-largest cryptocurrency on CoinMarketCap.

According to Hoskinson, this longevity highlights ADA’s durability, making Gemini’s decision to avoid listing the token both controversial and financially costly.

Here’s XRP Price if the Crypto Market Cap Hits $10T as Predicted by Cardano Founder

Mark Brennan
-
0
Here’s XRP Price if the Crypto Market Cap Hits $10T as Predicted by Cardano Founder

Altcoins such as XRP stand to benefit as the Cardano founder Charles Hoskinson predicts a possible increase in the global crypto market cap.

As recently confirmed by The Crypto Basic, Hoskinson said during a recent podcast episode that the crypto sector already serves hundreds of millions of users and creates enough value for many participants to benefit. To him, the market has grown large enough to move beyond constant rivalry.

Cardano Founder Expects Crypto Market to Hit $10T

Interestingly, the Cardano founder expects crypto adoption to rise to about 2 billion users over the next decade as blockchain technology becomes more widely used and better connected with traditional finance. 

For context, the latest Triple-A adoption report found that, as of 2024, 560 million individuals, representing 6.8% of the global population, own crypto assets. Hoskinson’s projection expects an addition of nearly 1.5 billion more users.

Crypto Adoption Report from Triple A
Crypto Adoption Report from Triple A

He believes this growth will result in a significantly larger overall market value. According to the industry leader, the global crypto market could surge to a whopping $10 trillion. With the market now worth $2.96 trillion, this would represent an increase of $7.04 trillion or a 237% surge over a ten-year period.

Hoskinson believes real-world asset (RWA) tokenization could be a major driver of this expansion. Interestingly, financial heavyweights such as BlackRock CEO Larry Fink and SEC Chair Paul Atkins have persistently called attention to the potential of the growing tokenization space. 

Possible XRP Price if This Materializes

If the global crypto market indeed grows to $10 trillion from the current value, the implications for altcoins could be tremendous. Specifically, XRP, being the third-largest altcoin (excluding stablecoins), would be one of the biggest beneficiaries of this push.

Today, XRP boasts a market cap of about $113.17 billion, holding above the $100 billion mark despite losing over $57 billion in market value this quarter due to the ongoing crypto market downturn. Also, at the current position, the XRP market cap is down 47% from its all-time peak of $216.69 billion attained in July 2025.

Meanwhile, XRP has a market dominance of 3.829%, considering its current market valuation. If it maintains this market dominance when Hoskinson’s prediction plays out, its market cap would soar to $382.9 billion. While this would represent a new all-time high valuation, the implication on the XRP price may not be as exciting.

Notably, XRP currently boasts a circulating supply of 60.67 billion tokens. As a result, a market cap of $382.9 billion would translate to a price of $6.31 per token. However, if XRP reclaimed its 2025 peak market dominance of 5.556%, its market cap would hit $555.6 billion if the crypto market reaches $10 trillion. This translates to a price of $9.14.

Crypto Industry Braces for OECD CARF Tax Rules Starting January 1

Zabi
-
0
Crypto Industry Braces for OECD CARF Tax Rules Starting January 1

A major shift in global crypto oversight is approaching as international tax authorities prepare to receive unprecedented access to user data.

Beginning January 1, 2026, new reporting standards developed by the Organisation for Economic Co-operation and Development (OECD) will significantly change how crypto activity is monitored and shared across borders.

These rules, known as the Crypto-Asset Reporting Framework (CARF), will apply to 48 jurisdictions, including the United Kingdom and the European Union. As early-adopting countries move first, millions of users and hundreds of platforms will begin adjusting to tighter transparency requirements.

A New Era of Cross-Border Data Sharing

At the core of CARF is a standardized reporting system for crypto assets. Under the framework, exchanges and other in-scope platforms must submit detailed user data to their domestic tax authorities. That information will then be exchanged internationally through existing cooperation agreements between governments.

As a result, tax agencies will gain a clearer view of crypto activity that previously remained fragmented across borders. This coordinated approach marks a significant step toward aligning crypto reporting with traditional financial systems.

Expanded Responsibilities for Crypto Platforms

To support this data-sharing model, CARF places new responsibilities on crypto service providers. Platforms must collect more comprehensive customer information and confirm each user’s tax residency. They will also be required to submit annual reports covering balances and transaction activity.

These obligations extend well beyond basic identity checks. Instead, they integrate tax compliance directly into platform operations, increasing both technical and administrative demands.

Structural Changes Become Inevitable for Exchanges

Against this backdrop, exchanges are preparing for big operational changes. CARF cannot be added as a surface-level update. Instead, it must be embedded into existing Know Your Customer and Anti-Money Laundering frameworks.

This integration will require redesigned onboarding flows, upgraded reporting infrastructure, and new governance processes. For platforms operating across both CARF and non-CARF regions, coordination between compliance, engineering, and support teams will become increasingly critical.

UK Platforms Begin Preparing Users

UK-licensed exchanges are among those that are already adapting to the new rules. CoinJar CEO and co-founder Asher Tan said users will gradually be asked to provide additional tax residency information as CARF is phased in.

Tan acknowledged that meeting regulatory standards while maintaining a smooth user experience remains challenging. However, he noted that effective compliance on regulated platforms can strengthen trust. He added that this balance may offer a competitive edge as crypto becomes further integrated into mainstream finance.

Greater Scrutiny for Retail Crypto Users

While platforms adjust their systems, retail users face a different consequence: heightened audit risk. Practitioners emphasize that CARF does not introduce new taxes. Instead, it makes existing tax obligations easier to enforce.

A UK-based practitioner known as The Bitcoin & Crypto Accountant stated that, beginning in 2026, HM Revenue and Customs will receive standardized, machine-readable data directly from exchanges. This will include information from overseas platforms, reducing gaps that once limited enforcement.

According to the practitioner, most compliance issues stem from omissions rather than deliberate avoidance. Unreported offshore exchange activity is common. Frequent small disposals are often overlooked. DeFi and NFT transactions are also frequently misclassified or excluded.

Once CARF data is compared with tax filings, these inconsistencies will become easier to detect. As a result, users with incomplete records may face increased scrutiny.

Early Resolution Encouraged Ahead of 2026

Although formal reporting begins in 2026, historical activity is unlikely to be ignored. The practitioner cautioned that discrepancies may prompt questions about earlier tax positions.

He urged users with unresolved issues to act sooner rather than later. Voluntary disclosure options remain available, but that window may narrow once automated data matching becomes routine.

As CARF moves closer to implementation, the message from regulators and practitioners is consistent. Greater transparency is forthcoming, and preparation by both platforms and users will be essential to navigating the transition.

Cardano Founder Says Midnight–XRP DeFi Integration Could ‘Blow Legacy Banks Out of the Water’

Lele Jima
-
0
Cardano Founder Says Midnight–XRP DeFi Integration Could ‘Blow Legacy Banks Out of the Water’

Cardano founder Charles Hoskinson argues that integrating Midnight with XRP Ledger–based DeFi could fundamentally disrupt legacy banking systems.

In recent commentaries, Hoskinson has outlined plans to introduce more efficient and potentially lucrative yield-bearing opportunities for XRP.

While he has not provided specific details about the initiative, he promised to intensify discussions next year. Recently, he clarified how such an integration could challenge traditional financial institutions.

Midnight-XRP DeFi Integration Will Crush Legacy Banks

In a widely shared social media statement, Hoskinson argues that integrating Midnight with XRPL DeFi could “blow legacy banks out of the water.”

Notably, Midnight, Cardano’s privacy sidechain, is built to support confidential smart contracts while remaining aligned with regulatory requirements. It enables sensitive financial data to stay private on-chain while still allowing regulators and institutions to verify transactions when necessary through selective disclosure.

Meanwhile, the XRP Ledger has long been known for its fast, low-cost payments and institutional-grade infrastructure. However, its DeFi ecosystem has lagged behind networks such as Ethereum and Solana due to the absence of native smart contract functionality.

While several projects, including Flare, have introduced DeFi solutions for XRP, adoption remains relatively modest compared to that of more established DeFi platforms.

Despite these limitations, Hoskinson argued that pairing XRP’s fast settlement layer with Midnight’s privacy smart contracts could produce a financial system that operates more efficiently than legacy banks.

XRP DeFi to Address the Shortcomings of Traditional Banking Models?

His commentary reflects the widespread belief that banks rely on outdated and slow infrastructure. In contrast, an XRP DeFi environment powered by Midnight could offer near-instant settlement, lower costs, and programmable financial products while maintaining compliance and privacy.

Such a system could replicate core banking functions, including payments, lending, and settlement, without the friction of intermediaries.

Notably, this is not the first time Hoskinson has cited Midnight and XRP to challenge legacy finance’s capabilities. Just last week, he argued that both XRP and Midnight are “100x” ahead of traditional financial systems, particularly in the real-world asset (RWA) tokenization sector.

Following debates over the accuracy of that claim, Ripple CTO David Schwartz publicly acknowledged the privacy-focused blockchain. That recognition sparked a positive exchange, with Hoskinson expressing appreciation for Schwartz’s remarks.

While Hoskinson has revealed plans to ramp up efforts around XRP DeFi initiatives, specific details regarding when a fully functional product will reach the market have not yet been disclosed.

Pundit Says Claims of XRP Hitting $1,000 are Mathematically Impossible: Here’s Why

Mark Brennan
-
0
Pundit Says Claims of XRP Hitting $1,000 are Mathematically Impossible: Here’s Why

Crypto commentator and investor Martyn Lucas has rejected claims that XRP could rise to $1,000, insisting that such predictions do not add up.

In a recent post on X, Lucas called attention to claims circulating online that holding 1,000 XRP could soon make someone a millionaire. He said these claims rely on the belief that XRP will reach $1,000 much sooner than expected. 

For instance, Jake Claver predicted in July 2025 that XRP could rise to $2,000 on Jan. 1, 2026. According to Lucas, none of those predictions has come true. He stated that the chance of XRP reaching that level stands at zero under any realistic scenario.

XRP to $1,000 “Mathematically Impossible”

The market commentator noted that as 2025 comes to a close, XRP trades at about $1.85. This price remains far below the $50, $100, or $1,000 targets promoted by bullish influencers throughout the year. 

Lucas argued that for XRP to reach $1,000, its cap would need to climb to roughly $60 trillion. While he acknowledged XRP’s solid performance in 2025, driven in part by institutional ETF adoption, he warned that extreme price targets amount to unrealistic stories meant to keep retail investors hopeful. 

However, the post triggered backlash from XRP proponents who argued that market cap does not matter in crypto, especially for a utility-focused token like XRP. Some claimed that XRP’s use case could allow its price to rise without regard to valuation limits. 

In response, Lucas released a YouTube video to explain why he disagreed. Within the video, Lucas said he owns XRP and bought it at around $0.38, showing that his criticism does not come from hostility toward the asset. 

The Argument Surrounding XRP Market Cap

However, he stressed that investors must still apply basic financial logic. He addressed comments claiming market cap plays no role in crypto pricing and said those arguments ignore economic reality. According to Lucas, market capitalization remains an essential tool for judging whether a price target is realistic.

To support his view, Lucas cited an explanation from ChatGPT. The AI noted that market cap remains one of the most important measures when evaluating price predictions. Even though cryptocurrencies do not operate like traditional companies, market cap still indicates how much money must flow into an asset to sustain a given price.

Lucas then applied this to XRP. According to him, XRP trades around $1.85 at the end of 2025 and has a circulating supply of about 60 billion tokens, with another 40 billion expected to enter circulation over time. Based on these numbers, a $1,000 XRP price would require a market cap of roughly $60 trillion. 

Lucas argued that no serious institutional investor would support such a valuation. He said that if retail investors tried to push prices toward those levels, larger players would quickly sell or short the asset. He compared this behavior to Wall Street, where experienced participants often profit at the expense of less-informed traders.

According to Lucas, this makes the idea of turning 1,000 XRP into $1 million not just unlikely but mathematically impossible. He called the $1,000 price narrative an engagement tactic used to attract attention rather than offer sound analysis. 

Notably, while the market commentator remains optimistic about XRP’s long-term prospects and sees scenarios where it could reach levels such as $10, he stressed that even Ripple does not expect XRP to reach $1,000.

It’s Sad to See Jake Claver Still Misleading People With $100 XRP Call Before Year-End: Analyst

Abdulkarim Abdulwahab
-
0
It’s Sad to See Jake Claver Still Misleading People With $100 XRP Call Before Year-End: Analyst

Analyst Zach Rector has publicly called out Digital Ascension Group CEO Jake Claver for claiming that XRP could reach $100 before the end of the year.

With only days left in 2025 and XRP still trading below $2, the issue has raised concerns about credibility and responsibility.

Rector Calls Out the $100 XRP Prediction

On Tuesday, Rector took to X to criticize Claver’s ongoing $100 XRP narrative. He said it is “sad” that the prediction is still being promoted despite current market realities.

Rector noted that he had said throughout the year that the call would be wrong and expressed surprise that Claver had not acknowledged the miss as the year comes to a close.

According to Rector, there is no realistic scenario in which XRP could achieve a 50x move within the remaining time.

“Easier to Fool People”

In a follow-up post, Rector shared a line often attributed to Mark Twain about how it is easier to fool people than to convince them they have been fooled. The comment added fuel to the discussion and drew mixed reactions from the community.

One X user, Mark Aiello, responded by saying he respected Rector’s work but felt he had crossed a line by calling out someone within the same space.

Rector replied that he has been consistent and that anyone he believes is misleading the community will be called out, regardless of who they are.

Background: Jake Claver’s Extremely Bullish Stance

The exchange comes against the backdrop of months of bold claims from Jake Claver. In late December, Claver said he was “99.99999% confident” that XRP would make an “unbelievable” move before year-end. He insists on the outlook despite XRP trading around $1.85.

That price is already down roughly 50% from its highs earlier in the year, leading many investors to shift their focus to 2026 instead.

Claver has also repeatedly cited catalysts such as XRP ETF inflows, regulatory clarity in the U.S., global liquidity shifts linked to Japan, and even geopolitical or oil-market disruptions. While these factors are speculative, he has maintained an extremely high level of confidence.

In a recent post on X, he shared a 30-hour countdown to year-end, drawing attention as many watched to see how XRP’s price could magically explode to $100.

Backlash as Year-End Nears

As 2025 draws to a close, criticism of Claver has intensified across X and YouTube. Many community members accuse him and other influencers of missing short-term targets and promoting aggressive timelines. 

His long-standing projection of XRP reaching $100 to $1,000 by year-end has become a focal point of that backlash.

The situation was further highlighted by a proposed $1 million wager from XRP community member Levi Rietveld, challenging Claver’s $100 call. Although Claver never formally accepted the bet, the episode amplified scrutiny around his prediction.

$100 XRP Not Happening in 2025

With XRP still trading at $1.65 and only days left in the year, the prospect of a nearly 5,000% surge now appears extremely unlikely. Rector’s comments highlight concerns about realistic expectations as new investors continue to look to prominent voices for guidance.

Bitcoin Price Prediction for Dec 31: Short Traders Are Taking a Hit but Can BTC Hold Support?

Mark Brennan
-
0
Bitcoin Price Prediction for Dec 31: Short Traders Are Taking a Hit but Can BTC Hold Support?

Bitcoin faces challenges as short traders take a hit, but its ability to hold key support will determine if BTC can gain momentum.

Bitcoin (BTC) faced significant challenges in December, on track to end the year without the widely expected year-end rally. Despite reaching $89,201.50 within the 24-hour range, the price has struggled to reclaim key resistance levels, including the $90K zone, which continues to cap upward movement.

The price action has remained largely contained between $87,121.05 and $89,201.50. Immediate support lies near the lower end of the daily range. If BTC fails to hold this level, it could face further downside, potentially testing $87K or lower.

Over the near term, Bitcoin posted a modest 1.4% increase in the last 24 hours but still faces a challenging short-term outlook with a 7-day gain of just 1.4%. Over the past 14 days, Bitcoin has shown a slightly more encouraging 1.9% increase, but this is still a far cry from the explosive price action seen in past bull runs. 

With momentum slow, Bitcoin’s performance lags behind other asset classes, especially precious metals like gold and silver, which saw strong performance during the same period. Will Bitcoin catch up?

Can Bitcoin Catch Up with Precious Metals?

On a TradingView chart, Bitcoin is currently navigating a narrowing range, with the price now just above the middle band (20-day SMA) at $87,884. The price is now moving towards the upper Bollinger Band, suggesting that BTC is in a positive trajectory. 

Bitcoin Price Analysis
Bitcoin Price Analysis

On the upside, the immediate resistance sits at $90,139.53 (upper Bollinger Band), a critical point where the price has previously faced rejections. If Bitcoin can break above this level, it may target higher resistance zones, potentially moving toward the $92,000 range.

On the downside, the key support lies at $85,628, which aligns with the lower Bollinger Band and has acted as a floor for the price in recent sessions. If Bitcoin fails to hold this level, further downside could bring the price to the $84,000 range, where another significant support level exists. 

The Chande Momentum Oscillator (CMO) is currently flat at -3.16, indicating weak bullish momentum, further suggesting that Bitcoin is struggling to maintain upward movement. For BTC to reclaim a bullish outlook and catch up with recent performers, it needs to break the resistance above $90K and hold above the $87,884 support to build stronger momentum.

Bitcoin Liquidation Data 

Meanwhile, as Bitcoin’s volatility continues to shake the market, liquidation data reveals intriguing trends in market sentiment. Over the past 12 hours, Bitcoin liquidations have totaled $11.02 million, with long positions accounting for the bulk at $9.61 million, while short positions faced smaller liquidations of $1.41 million.

This shift indicates that although buyers are active, some volatility remains, causing positions to shake out.

Bitcoin Rekt Data
Bitcoin Rekt Data

Looking at the 24-hour data, the total liquidation figure skyrocketed to $45.47 million, with shorts suffering major losses at $30.09 million, compared to $15.38 million in long liquidations. This dramatic imbalance shows that despite recent price fluctuations, short positions are taking the hardest hit, indicating stronger bullish momentum or a potential market rebound.

1...340341342...2,627Page 341 of 2,627