Crypto News September 18: Bitcoin’s next stop is $ 85,000 with news from TRON, ETC, Celsius, Binance, Cortex, Solv Finance
From year-end bitcoin price targets to the first US-based TRON Trust fund, here are some highlights from the crypto space.
In its latest market update on Friday, the Decentrader trading platform clearly announced its bullish medium-term BTC price forecast. The platform says Bitcoin is headed for a price of at least $ 85,000 in the fourth quarter of this year, and possibly crossed the $ 100,000 mark.
The source: More decentralized
Although BTC was capped below $ 50,000 this week, on-chain metrics have kept analysts optimistic about Bitcoin’s price movement.
Analyst Filbfilb is no exception and is forecasting not only an all-time high, but also a jump to $ 100,000 before the end of the year.
“With bullish signals, Bitcoin could rally to $ 85,000 and then to $ 100,000 in the near future. An explosive 4th quarter of 2021. “
Bitcoin’s price development has been catching up with the data and network fundamentals in the chain for some time.
As a logical consequence of this process, the upward trend should continue for the rest of the year, similar to the events of 2020. However, this time the Bitcoin price should be one notch higher.
“If price recovers as we expect in the coming weeks, the first big target will be the 1.618 fib retracement level at $ 85,900.
We don’t think this will be the main cycle high, however, but it could be a point of resistance before a potential parabolic run that will bring Bitcoin over $ 100,000. “
One of BlockFi’s top competitors, Celsius, was ordered by the New Jersey Stock Exchange to stop offering profitable accounts. The move comes almost two months after New Jersey prevented BlockFi from doing the same.
Celsius received too notification by the Texas State Securities Commission that a hearing will be held on February 14th to decide whether the state should order the company to cease operations and cancel orders on its profitable crypto accounts.
The order states that Celsius “financed, at least in part, its proprietary trading and cryptocurrency lending operations through the sale of unregistered securities in violation of the New Jersey Securities Act.”
Binance and Cortex News
Hard fork and strong upgrade from Cortex (CTXC) take place at block height 4,650,000 or at 7:00 a.m. on September 22nd Synthetic Teamese time (i.e. 0:00 UTC on the same day).
This time is an estimate, is for reference only and may change depending on the block transfer time.
Binance notification will support Network upgrade. CTXC deposits and withdrawals will be suspended starting September 22nd at 6:00 am (i.e., September 21st 23:00 UTC).
The TRON Foundation has notification the launch of Valkyrie TRON Trust by strategic partner Valkyrie Investments on September 17th. The Valkyrie TRON Trust is the first in a series of upcoming institutional fund offerings worldwide for the TRON ecosystem. The launch point is expected to have $ 55 million in AUM, with plans to apply for US listing in 2022.
In another development, #TRON leader Mentions on Twitter 1,900 times within the last 1 hour, while # ETH-Jungs are mentioned 1,550 times, #ADA 530 times and #Coinbase 180 times.
There is little interest from retailers in the Ethereum Classic market. As a result, the low volatility kept the price within the channel from $ 53.8 to $ 60.6 for over a week. However, ETC has formed within a symmetrical triangle, indicating an imminent price move.
Given current market dynamics, sellers are likely to scale in their favor, but a bullish argument also seems plausible.
A series of lower highs and higher lows have created a symmetrical triangle on the ETC’s 4 hour chart. The pattern is considered bearish in this situation as it formed right after the September 7th correction, and bears can easily break out of this setup. The 20 and 50 day simple moving averages are trending down as momentum supports the bears.
A break below the lower trendline can lead to a 13% decline towards $ 48, a close below $ 53.5 confirms this scenario.
However, if the triangle acts as a reversal pattern, the ETC will rise 7% to its August 8 high of $ 63.4. A closing price above $ 59 on a relatively larger volume increases the chances of moving north.
Solv Finance news
To improve protocol security, Solv Finance, a DeFi protocol that created the first vNFT token standard Buy insurance now through Tidal Finance, valued at $ 1 million including smart contract vulnerabilities implemented on Ethereum and Binance Smart Chain. NSThis is very important as this is the first time DeFi coverage has been applied to the NFT sector.
Solv’s reserve pool will be available for deposits from the last week of September and reserve providers can earn awards and policy awards.
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