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SHIB: Will it Keep Rising? Peter Brandt and David Gokhshtein Weigh In

SHIB is currently one of the most talked-about cryptocurrencies on the market. After a rise, the question remains: Will the rise continue?

The post SHIB: Will it Keep Rising? Peter Brandt and David Gokhshtein Weigh In appeared first on BeInCrypto.

SHIB is currently one of the most talked-about cryptocurrencies on the market. In the past couple of days, there has been a rise in the price of the memecoin, which has recorded an increase of more than 30%. But will the rise continue?

Peter Brandt is one of the most experienced analysts in the financial markets. He recently stated that Shiba Inu (SHIB) could rise. He shared his analysis via TradingView. In his latest technical analysis, Brandt said that SHIB may have entered a bull cycle.

SHIB: Will it Keep Rising? Peter Brandt and David Gokhshtein Weigh In

SHIB: Will the Price Rise Continue?

David Gokhshtein, one of the well-known names in the crypto market, also pointed out that the rise in the price of SHIB may continue. This is in his post on his personal social media account.

Gokhshtein is the founder of Gokhshtein Media and a former US congressional candidate. He said:

“Anyone watching $SHIB right now. It looks like it’s fueling up for another leg.”

It was learned that Shiba Inu has recently attracted the attention of whales and individual investors as well as analysts. SHIB transactions over $100,000 increased significantly in the last 4 months.

In addition, Shiba Inu activity on social media has increased significantly recently.

Dog-themed cryptocurrency SHIB was trying to protect its gains at the time of writing. Shiba Inu , which rose from $0.000013 to $0.000018 with the trend it caught yesterday, is trading at $0.000016.

Bitcoin, on the other hand, is trying to maintain the critical $24,000 level during the same hours. The leading cryptocurrency is at $24,100.

Got something to say about Shiba Inu, Peter Brandt, David Gokhshtein, or any other talking head commenting on the memecoin Shiba Inu, or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

The post SHIB: Will it Keep Rising? Peter Brandt and David Gokhshtein Weigh In appeared first on BeInCrypto.

Source: Markets – BeInCrypto

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Altcoins

Crypto stocks poised as Bitcoin holds $23K ahead of FOMC

Bitcoin miners Core Scientific rose 33% as stocks of Bitfarms, Stronghold Digital, CleanSpark all ended the past week higher. Coinbase and Robinhood shares also rose as Bitcoin broke above $23,000. FOMC meeting is this week and the market reaction will be key to what next for Bitcoin and crypto stocks. A number of crypto-related stocks […]

The post Crypto stocks poised as Bitcoin holds $23K ahead of FOMC appeared first on CoinJournal.

  • Bitcoin miners Core Scientific rose 33% as stocks of Bitfarms, Stronghold Digital, CleanSpark all ended the past week higher.
  • Coinbase and Robinhood shares also rose as Bitcoin broke above $23,000.
  • FOMC meeting is this week and the market reaction will be key to what next for Bitcoin and crypto stocks.

A number of crypto-related stocks are looking to extend gains notched in the past few days after closing in positive territory on Friday.

Among those to rip are share prices of crypto mining firms that had been struggling badly after reaching new all-time lows amid the crypto winter. 

This is happening even as Bitcoin price looks to push higher after holding above the $23,000 level over the weekend. A crucial macro news event to watch out for is the FOMC meeting this week.

Surge in Bitcoin price helped crypto stocks

Core Scientific (CORZ), the world’s largest publicly-traded Bitcoin miner, surged an impressive 33% on Friday, while crypto mining firm Digihost Technology (DGHI) saw its shares jump more than 11%.

Stocks of NASDAQ-listed miners Bitfarms (BITF), Stronghold Digital Mining (SDIG), Bit Digital (BTBT) and CleanSpark (CLSK) all ended the week in the green. Elsewhere, NYSE-listed Bit Mining and SOS ADR also rose.

Coinbase (COIN) and Robinhood (HOOD) stocks also traded higher, with the US-based crypto exchange’s stock soaring more than 15% on Friday. Coinbase‘s stock is up more than 73% in the past 30 days before markets open on Monday, 30 January. Robinhood shares ended the week 8% higher and were up nearly 28% over the past 30 days.

Bitcoin price, FOMC – what next for crypto stocks?

As noted, most of these publicly listed crypto companies saw their share prices soar alongside the positive price action of Bitcoin. But crypto has also largely correlated with stocks, with this week crucial in terms of the Federal Open Markets Committee (FOMC) meeting. 

On the positive side of things…

BTC/USD reached highs of $23,955 last week and is up more than 40% year-to-date. According to recent data from crypto analytics platform Glassnode, BTC’s recent upside momentum has the flagship digital asset’s price above three key on-chain metrics.

The breakout above $22,800 had Bitcoin above both the long term and short term cost-basis as well as Realized Price – the first time this has happened since 2020 COVID-19 induced crash. Also, the previous time when prevailing BTC price was above the three metrics was during the 2018/19 bear market.

On the flipside…

As covered by CoinJournal, Glassnode suggested last week that bulls managing to hold above the $22.4k level would aid sentiment and potential further gains. However, this week could see recent momentum derailed if investor reaction to the Federal Reserve’s FOMC minutes turns out to be negative. 

Although the market already expects a 25 basis point rate hike, some experts believe it would be a disaster for the markets if the Fed goes for a 50 basis point hike instead.

According to CoinGecko, Bitcoin was trading 1.1% down at 7:15 am ET on Monday as FOMC-related volatility likely began to set in across markets.

The post Crypto stocks poised as Bitcoin holds $23K ahead of FOMC appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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