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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    NFT sales surge to $574 million in July, second-highest in 2025

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    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    Experience to Earn: Everdome's Metaverse Frontier

    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    You Can Now Buy NBA Top Shot NFTs From Vending Machines in Japan

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    Still Loving My ‘If It Went to Zero’ NFT

    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

    Ordinals soar on the back of Bitcoin art – Here are our top 7 picks

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    A Pressure Group Forced Steam to Remove Adult Games. It’s Coming After Crypto Next

    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Bitcoin

Bitcoin: Why investors shouldn’t worry about BTC below $50K

February 14, 2024
in Bitcoin
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Bitcoin: Why investors shouldn’t worry about BTC below $50K
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  • Buying pressure on BTC was high as exchange reserves dropped.
  • A few market indicators looked bullish on BTC.

Bitcoin [BTC] investors recently had a setback as the king of cryptos’ bull rally halted. However, they should not lose confidence in BTC as a bullish pattern formed on the coin’s price chart, hinting at another rally in the coming days. 

Patience is the key

The entire crypto space was filled with excitement as the king of crypto crossed the much-speculated $50,000 mark. But the trend was short-lived as the token price plummeted below $49,000.

READ ALSO

Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

Nonetheless, the king of cryptos quickly moved above $49k. According to CoinMarketCap, at the time of writing, BTC was trading at $49,432.19 with a market capitalization of over $970 billion.

In fact, Ali, a popular crypto analyst, pointed out an interesting development, which hinted at another bull rally. 

#Bitcoin appears to form an ascending triangle on the lower time frames. This technical formation suggests $BTC is poised for a 1.60% in the short-term.

Watch out for the $50,200 resistance and the $50,000 support!

If you’re planning to join me in this trade, go to @coinexcom,… pic.twitter.com/Jtb8Eedbtq

— Ali (@ali_charts) February 13, 2024

As per the tweet, a bullish ascending triangle pattern formed on the coin’s price chart. Since BTC was moving inside that pattern, short-term price declines are common.

But, if the larger picture is considered, the possibility of BTC turning $50k as its new support level is high. Investors at large also seemed pretty confident in BTC as they kept increasing their accumulation.

See also  Bitcoin, Ethereum, and Solana move in sync—Here’s why it matters

AMBCrypto’s look at CryptoQuant’s data clearly pointed out that BTC’s exchange reserve continued to decline over the last few days. A drop in the metric means that investors were actively buying BTC. 


Source: CryptoQuant

Bitcoin’s Coinbase premium was green, meaning that buying sentiment was dominant among US investors.

Additionally, CryptoQuant’s data revealed that BTC’s Binary CDD was also green. This suggested that long-term holders’ movements in the last 7 days were lower than average, indicating their willingness to hold their assets.


Source: CryptoQuant

Is a bull rally inevitable?

To find further hints for a bull rally, AMBCrypto took a look at Glassnode’s data. We found that Bitcoin’s Network Value to Transactions (NVT) Ratio registered a decline.

Typically, a drop in the metric suggests that an asset is undervalued, meaning that the possibility of a price uptrend is high.  


Source: Glassnode

To check whether an uptrend is actually around the corner, we then took a look at Bitcoin’s daily chart. The MACD displayed a massive bullish advantage in the market.

Its Chaikin Money Flow (CMF) also went up, indicating that BTC’s price might increase soon. 


Source: TradingView


Read Bitcoin’s [BTC] Price Prediction 2024-25


However, nothing can be said with utmost certainty as the Relative Strength Index (RSI) was in the overbought zone, which can exert selling pressure on BTC.

Additionally, its fear and greed index also had a reading of 74 at press time. Whenever the metric reaches the “greed zone,” it increases the chances of a price correction.


Source: Alternative.me

Next: Binance moves 200M XRP tokens: What’s cooking?

Tags: 50kBitcoinBTCInvestorsShouldntworry

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