{"id":16856,"date":"2024-10-31T08:12:06","date_gmt":"2024-10-31T08:12:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16856"},"modified":"2024-10-31T08:12:06","modified_gmt":"2024-10-31T08:12:06","slug":"bitcoin-btc-price-outbreak-shibariums-upgrade-and-more-bits-recap-oct-31","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16856","title":{"rendered":"Bitcoin (BTC) Price Outbreak, Shibarium\u2019s Upgrade, and More: Bits Recap Oct 31"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Bitcoin trades well above $70,000, with analysts sharing mixed forecasts about its future movements.<\/span>
\nShibarium\u2019s new upgrade aims to boost utility and introduce exclusive rewards.<\/span>
\nAccording to one analyst, XRP could see a significant rally if it breaks key resistance soon.<\/p>\n

<\/a><\/span><\/h2>\n

BTC on Fire<\/h2>\n

The final days of October (so far) have been quite successful for the primary cryptocurrency. <\/span>Its<\/span> price crossed the psychological level of <\/span>$70K at the start of the week<\/span>, <\/span>continuing<\/span><\/a> the uptrend to as high as $73,600. Currently, bitcoin (BTC) trades at around $72,200 (per <\/span>CoinGecko\u2019s<\/span> data), representing a 7% increase on a seven-day scale.<\/span>\u00a0<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

Numerous industry participants believe the rally is still at its starting point, envisioning further gains <\/span>in the near future<\/span>. X user Mikybull Crypto recently <\/span>noted<\/span><\/a> the emergence of a \u201cgolden cross,\u201d which could be a precursor of a massive bull run. <\/span><\/p>\n

The technical chart pattern occurs when BTC\u2019s short moving average (often the 50-day) <\/span>crosses above<\/span> its long-term moving average (for example, the 200-day). It <\/span>is considered<\/span> a bullish signal,\u00a0indicating a boost in positive market sentiment.<\/span><\/p>\n

Despite the overall optimism in the space, some analysts forecasted a potential correction. Altcoin Sherpa, for example, <\/span>maintained<\/span><\/a> that the \u201crange highs were trapped,\u201d speculating about a possible pullback to $50,000.<\/span><\/p>\n

Ali Martinez chipped in, too, <\/span>reminding<\/span><\/a> that<\/span> BTC\u2019s valuation plunged substantially following the previous three US presidential elections. The voting for America\u2019s next political leader is scheduled for next week (November 5), and it is likely to trigger some volatility in the crypto market.\u00a0<\/span><\/p>\n

Shibarium\u2019s Upcoming Upgrade<\/span><\/h2>\n

Shiba Inu\u2019s layer-2 scaling solution also made the headlines due to another upgrade unveiled by its developers. As <\/span>CryptoPotato<\/span><\/em> reported<\/span><\/a>, the advancement that is \u201con the way\u201d aims to bring new opportunities for users, such as exclusive events and rewards. Additionally, it will enhance the network\u2019s utility and allow for future expansion.<\/span><\/p>\n

\u201cShiboshis will play a part in future expansions across the Shib ecosystem, opening doors for unique interactions and potential benefits,\u201d the disclosure reads.\u00a0<\/span><\/p>\n

Shibarium\u2019s previous upgrades this year <\/span>included<\/span><\/a> a new user interface (UI) update that enables compatibility with popular self-custody wallets and a \u201cBurn Portal\u201d that decreases the circulating supply of Shiba Inu (SHIB). This development makes the meme coin more scarce and possibly more valuable (should demand remain constant or rise).\u00a0<\/span><\/p>\n

XRP Predictions<\/span><\/h2>\n

Despite the booming cryptocurrency market recently, Ripple\u2019s XRP remains in the red on a weekly scale, currently hovering at around $0.51. However, many analysts are still optimistic that it will catch up with the pace and experience a significant rally soon.<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

One example is EGRAG CRYPTO, <\/span>who<\/span> envisioned<\/a> a price explosion to $7.50 before the <\/span>year\u2019s end<\/span>.<\/span> The crypto enthusiast added that such a rally would only be possible if XRP surpasses the resistance level of $0.5930 before the end of this month (meaning today).<\/span><\/p>\n

The post Bitcoin (BTC) Price Outbreak, Shibarium\u2019s Upgrade, and More: Bits Recap Oct 31<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Bitcoin trades well above $70,000, with analysts sharing mixed forecasts about its future movements. Shibarium\u2019s new upgrade aims to boost utility and introduce exclusive rewards. According to one analyst, XRP could see a significant rally if it breaks key resistance soon. BTC on Fire The final days of October (so far) have been quite […]<\/p>\n","protected":false},"author":0,"featured_media":16857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16856"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16856"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16857"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}