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Bitcoin to Hit $50,000 After Bullish Weekly Divergence, Dogecoin No Longer Top 10 Coin, VanEck's and Tether's Top Exec Opines Whether Satoshi Nakamoto Is Alive: Crypto News Digest by U.Today

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Tue, 13/02/2024 - 16:23
Bitcoin to Hit $50,000 After Bullish Weekly Divergence, Dogecoin No Longer Top 10 Coin, VanEck's and Tether's Top Exec Opines Whether Satoshi Nakamoto Is Alive: Crypto News Digest by U.Today
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Here are the top three news stories presented to you by U.Today.

Bitcoin (BTC) to hit $50K after bullish weekly divergence, says top analyst

Bitcoin's price continues to inch closer to the $50,000 mark, being pushed higher by a bullish weekly divergence. This upward trajectory was highlighted by top crypto analyst Michaël van de Poppe in a recent X post, noting the asset's recent break above the $48,000 level. According to van de Poppe, the Bitcoin price is looking at the resistance, indicated by a massive weekly candle that had helped the price of Bitcoin rise back above $48,000. The analyst wrote that he is curious to see what the price will do around $50,000 in the next 1-2 weeks, underscoring the critical resistance level that Bitcoin faces. The excitement around Bitcoin's price movement is further intensified by the upcoming Bitcoin halving event slated for April. Halving occasions have historically preceded bullish surges in the price of Bitcoin. Van de Poppe has set his sights on the $50,000 target for Bitcoin, attributing his prediction to the halving event's impact.

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Bitcoin (BTC) Might Face Major Shift in Next 24 Hours; What's Behind It?

Dogecoin (DOGE) no longer top 10 coin

In a sudden turn of events, Dogecoin (DOGE) has dropped out of the top 10 cryptocurrencies by market capitalization. The meme coin's 10th place was taken by Chainlink (LINK), whose market cap surpassed that of its dog-themed competitor by approximately $71 million at the moment of writing, thus leaving DOGE to get used to its new position outside of the "top 10 club." Such a shift in positions among the top 10 cryptocurrencies has once again demonstrated the volatile nature of the market. This is not the first time Dogecoin has been pushed out of this elite group; for example, last December, it was forced out by Avalanche (AVAX). Nevertheless, Dogecoin has continually been able to win its position back, underscoring the cyclical nature of its interest among investors and its popularity.

Is Satoshi Nakamoto alive? VanEck and Tether's Gabor Gurbacs opine

In a recent X post, digital asset strategist at VanEck and Tether Gabor Gurbacs shared “one of the best things" Bitcoin creator Satoshi Nakamoto did for the BTC community. In Gurbacs' opinion, one such thing is his disappearance as, thanks to Satoshi's retreat from the crypto stage, Bitcoin has no ambiguity, no attack vector and no centralization. Gurbacs thanked the anonymous BTC creator and showed his respect, wherever he is now, and if he remains alive. The X post got the attention of Bloomberg’s Eric Balchunas, who asked VanEck's exec if he believes that Satoshi is still alive. Gurbacs replied "both," confusing his followers; however, as he explained, many people believe that the world's largest crypto was created not by an individual, but by a group, similar to a group of mathematicians who named themselves Nicolas Bourbaki in the early 1930s. Thus, Gurbacs suggests that some members of the "Nakamoto group" could be dead, while others remain alive.

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