U.Today has compiled a summary of the top three news stories from the past day.
Samson Mow predicts “max pain” for market participants as Bitcoin could reach $1 million
As the crypto community anxiously awaits the SEC’s decision on a spot Bitcoin ETF, Bitcoin maximalist Samson Mow shared his extremely bullish outlook on the future price of BTC. According to Mow, the price of Bitcoin could skyrocket to $1 million at any moment, causing chaos for many companies and individuals. Mow specifically mentioned his own company, Jan3, as well as other notable figures in the crypto space such as analyst Plan B and MicroStrategy. If BTC were to suddenly reach $1 million, it could disrupt the plans and goals of these entities. Additionally, countries like El Salvador, which have adopted Bitcoin, could also face challenges if the price were to spike so dramatically.
Large amount of Dogecoin transferred to Binance by unidentified whale
A massive transfer of 332,931,620 DOGE (valued at $26,612,151) was made from an unknown wallet to Binance, as reported by Whale Alert. The reason for this transfer is unknown, and the Dogecoin community is speculating about its potential implications. Meanwhile, DOGE has seen a 21.98% decrease in value over the past month. The community is eagerly awaiting further updates on this transfer and the impact of the recent lunar launch on DOGE’s market dynamics. As a reminder, a replica of DOGE was sent to the moon on January 8 via the Vulcan Centaur rocket.
Ethereum could see bullish breakout, says analyst Michaël van de Poppe
In a recent post, well-known crypto analyst Michaël van de Poppe predicted a potential bullish breakout for Ethereum (ETH), as the second-largest cryptocurrency is currently in a critical position. Van de Poppe believes ETH will test its 2022 low and potentially see a liquidation candle if a spot Bitcoin ETF is approved. After this, he anticipates a rotation of funds into Ethereum and a bullish weekly divergence. This prediction is based on the idea that ETH could see a significant increase in response to a Bitcoin ETF approval. Traders are closely monitoring the upcoming decision, recognizing the interconnected nature of cryptocurrencies.
This article was originally published on U.Today.