The exec pointed out that one year after the 2012, 2016, and 2020 halvings, the price of bitcoin was up 8,069%, 284%, and 559%, respectively. Solareum Wallet is the first product of Team Solareum, a crypto wallet developed on Solana. The team will always try to give the latest updates to serve the ecosystem and the community. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
- The northbound orientation of the RSI shows there is still some upside potential for Optimism price.
- And with 2024 carrying a lot of question marks, the cryptocurrency could be poised for further market-beating returns.
- Coinbase holds about $114 billion worth of assets under its management, which is slightly lower than the total value locked in the DeFi market, coming up at about $117 billion.
The combination of election-driven volatility, coupled with potential momentum from regulators and the possibility of a Bitcoin halving cycle make me bullish on the token’s prospects for next year. Despite its surge in 2023, I would not be surprised if Bitcoin eclipses its record high of about $69,000 next year and moves toward six-figure territory. For these reasons, investors might want to consider a small position in Bitcoin now. The chart below shows the real gross domestic product (GDP) growth rate for the U.S. during the past decade.
As candidates lobby for various legislative moves during campaign events and debates, it is natural for certain market sectors to experience more pronounced trading activity. For this reason, unless you have built a well-diversified portfolio, chances are you could experience some significant volatility next year, which leads to my second point. The cryptocurrency does not have earnings, a management team, or any real securities guidelines that it must obey. Similar to other alternative assets, the value of Bitcoin largely stems from perception driven by supply and demand. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer.
$XSB Token
A break and close below the midline of this order block at $2.653 would not only confirm the continuation of the downtrend but also invalidate the prevailing bullish outlook. Optimism price has recorded massive volatility around the unlocks event, rising 94% in a week and almost 25% in the last day. This is likely in the execution of the buy-the-rumor narrative, which means a sell-the-news outcome could be underway. For example, technology stocks ripped in 2023, fueled by bullish outlooks on artificial intelligence (AI). Even if you did not directly own any of the “Magnificent Seven” stocks, tech-heavy index funds like Invesco QQQ were up by more than 50% year to date — more than double the S&P 500’s gains.
- The rebound has coincided with historic interest-rate hikes from the Federal Reserve, as well as a series of bank failures that began with Silicon Valley Bank.
- As of late December 2023, current predictions indicate an anticipated increase of 9.08%, reaching approximately $3.02 by December 31, 2023.
- The Relative Strength Index (RSI) is above the 70 level, showing that OP is massively overbought, and a correction could follow in the aftermath of buyer exhaustion.
- The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation.
- In most instances, whenever the MVRV metric hits a local peak, there is a corresponding correction in price, and given the last time this metric was this high was six months ago, a correction may be near sight.
Perhaps the biggest catalyst for Bitcoin heading into 2024 is the possibility that one or more spot Bitcoin exchange-traded funds (ETFs) will launch next year. Approval of a spot ETF by the Securities and Exchange Commission (SEC) would represent an important validation of cryptocurrencies and could spark a bull run. MakerDAO has always maintained a strong footing in the Decentralized Finance (DeFi) space for the longest time. The protocol also has a substantial dominance in the crypto market thanks to its native token MKR and stablecoin DAI.
XSB Exchanges
Coinbase holds about $114 billion worth of assets under its management, which is slightly lower than the total value locked in the DeFi market, coming up at about $117 billion. Conversely, increased buying pressure above current levels could see Optimism price extend north, clearing the range high at $4.183. In a highly bullish case, the gains could see OP token test the $4.500 level, marking a new higher high and invalidating the bearish thesis in the process. If profit booking kicks off, Optimism price could lose all the ground covered, flipping the $3.219 support into a resistance. In the dire case, the price could slip below the $3.000 psychological level, to test the supply zone that stretches between $2.601 and $2.710.
Solareum Wallet Quarterly Returns
With a trading volume drop of 60%, its biggest contender in the sector, Arbitrum (ARB), is up 10% while OP boasts an outstanding 120% surge in trading activity, pointing to strong interest in the asset. He added that the world’s biggest crypto by market cap had also experienced sharp rallies leading up to halving events. The last thing that could send the token’s price surging next year is the looming Bitcoin halving. Following past Bitcoin halvings, in which the reward miners receive for adding to the blockchain is cut in half, the cryptocurrency has witnessed renewed buying activity and eclipsed past highs. Separate from the halving event, recent speculation about whether the Securities and Exchange Commission will approve a spot bitcoin ETF has fueled bullish sentiment. Although the secular demand trends of AI could very well pour over into 2024, it’s highly likely that some tech stocks are overbought right now.
The Relative Strength Index (RSI) is above the 70 level, showing that OP is massively overbought, and a correction could follow in the aftermath of buyer exhaustion. Bitcoin has surged more than 120% in 2023, recovering from last year’s 65% sell-off. The rebound has coincided with historic interest-rate hikes from the Federal Reserve, as well as a series of bank failures that began with Silicon Valley Bank. Historical trends indicate bitcoin is on pace to blow past record highs and hit $100,000 by 2025, a blockchain executive said. The table above shows the number of days which Solareum Wallet closed above a certain price level. Solareum Wallet price in US Dollar has increased by 870.14% in the last 1 month.
Where Can You Buy Solareum Wallet(XSB)?
There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. For the past several quarters, economists have been sounding the alarm for a recession in 2024. However, economic indicators such as job growth, unemployment, and inflation continue to suggest that a recession may not materialize next year. The northbound orientation of the RSI shows there is still some upside potential for Optimism price. This is accentuated by the large volumes of green histogram bars of the Awesome Oscillator in the positive territory. Similarly, the whale activity for large holders with transactions surpassing $100,000 and $1 million also increased, with the surge coinciding with the Network Realized Profit/Loss spikes.
News
The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 737 exchanges. Therefore, it is impossible to accurately predict the price of Solareum Wallet 5 years from now.
Contact Data
During otherwise cloudy macroeconomic conditions, investors may want to consider allocating a portion of their portfolio to alternative assets. Bitcoin is heading into one of the most important years in its history as two major events are expected to skyrocket the digital asset. Ahead of the same, crypto market intelligence data provider Messari has provided its take on what 2024 can bring for Bitcoin and by the looks of it, Inscriptions might lead the year. Optimism (OP) price is trading with a bullish bias, pumping hard to become the biggest gainer among Layer 2 (L2) tokens.
The long-term outlook remains positive, with projections suggesting a potential high of $4.61 in 2024 and a further increase to $5.43 by 2025. Looking ahead to 2030, forecasts indicate the possibility of reaching a range between $5.29 and $7.11. It is important to note that these projections are based on historical https://cryptolisting.org/blog/why-is-profit-margin-ratio-important price trends and market analysis, and actual performance may vary. Solareum is a platform that recognizes the growing importance of cryptocurrency in the web3.0 era. It provides users with a simple and secure wallet for storing tokens, along with a seamless token swapping experience for everyday use.
