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Bitcoin (BTC), despite trading within a small range, is still on a positive trend. Bitcoin price analysis from Coinidol.com.

Bitcoin Price Prediction: Long-term Range

The biggest cryptocurrency is currently trading above the simple moving average of 21 days but below $44,700. The resistance at $44,000 further slowed up the upward movement. On December 26, bears fell below the simple moving average of 21 days, while bulls purchased dips. BTC has recovered above its 21-day SMA, but is still below $44,700. Bitcoin's uptrend, which began on December 27, was short-lived. Bitcoin turned lower below the $44,000 level.

Bitcoin has stalled at the $44,000 level of resistance. Bitcoin will enter bullish territory once it crosses the $44,700 barrier. The market will hit a high of $48,000. Bitcoin is in danger of falling because it trades in a tight range. The biggest cryptocurrency will fall, if the bears continue to trade below the 21-day SMA. Bitcoin will drop above the 50-day moving average (SMA), or the low price of $40,400.

Bitcoin indicator reading

BTC has traded consistently above the SMA of 21 days to avoid a drop to the downside. The bears currently are trying to break through the 21-day SMA. The current rally would be over if the bears succeeded. The selling pressure is currently easing above the moving-average lines. This suggests that the sideways movement will continue.

Technical indicators

Key Resistance Levels - $35,000 and $40

Support levels for $30,000 and $25,000.

What is the future direction of BTC/USD currency?

If the price rises above the moving-average lines, the sideways trend may continue. Bitcoin is trading within a narrow range of $41,600 to $44,000. The $44,000 barrier has stopped Bitcoin's upward movement since December 20. Bitcoin could see a drop if it does not break through the $44,700 level of resistance.

Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CoinIdol.com. Before investing in funds, readers should research the market.

It's probably safe to say 2023 wasn't as bad as anticipated. Will 2024 keep crypto on its winning streak?

On January 3, Bitcoin, and cryptocurrency in general, will be 15 years old. Not old enough to drive yet, but old and able to do some really stupid stuff while making you wonder at the thing you created (I speak as a parent of a five-year-old but I assume things don't differ too much).

In comparison to last year's time, optimism and greed reign. Prices are rising, dumps last a short time and crypto is slowly making its way back into polite society. What can we expect in 2024? What's next?

SOL is now the new ETH

This one is prefaced with a disclaimer. Ethereum ain’t going anywhere. And there will most likely be a point next year where people laugh at the OG Layer 1 and then it rips so hard that it can even be heard in space.

Solana has now established itself as the obvious heir to Vitalik’s baby. Solana is now firmly established in the top five by market capital. Over the past month, Solana, at various points, has overtaken ETH for DEX volume and NFT transactions, as well as stablecoin usage. Money is flooding in, and it's starting to spread around the ecosystem as unlit rocket fuel.

It's very likely that many of the 100x coins for the bull market of 2024 will be found on Solana. Be careful, though: the chances of you hitting the jackpot will be slim and Solana has a low entry barrier that makes scams and rug pulls commonplace. For instance, there were 5000 coins released on December 22. Enjoy yourself, place small bets and prepare to cash out your winnings because infernoes can burn themselves out suddenly.

The King takes his throne

When crypto markets make a sharp left turn and enter the ridiculous zone, it's easy to view Bitcoin with the same kind of snobbish affection reserved for those in their 80s. It's great that you earned 20%. My life savings were multiplied five times in just two days when I invested them into something called Pooblaster, whose website was a video showing a dog's poop being shot into space. (Note to Self: Launch this coin on SOL.

Let's not forget, however, that we are doing this again because the largest asset manager in the world decided to promote a Bitcoin ETF. By the time this newsletter is published, the ETF may be available.

It's not a guarantee that the market will always be on the rise (people enjoy shorting ETFs). It is certain that Bitcoin will remain the central point of crypto-currency and the rest the world.

Stability is a sexier option than anything else

Since months, I have been wanting to write about stablecoins, but let's face it, they aren't that exciting.

They are still important. The flow of stablecoins in or out of the market is one of the best indicators of market health. In October, the value of stablecoins began to rise for the first since early 2022. Since then, crypto markets have gained US$670 Billion in value. Although the inflows of money are minor, the fact that they have stopped is enough to bring about a sort of equilibrium.

Stablecoins serve as much more than market indicators. Stablecoins make up at least 80% the volume of all crypto transactions on any given day. Stablecoins may be the killer app for crypto. Stablecoins are easy to use, understand and serve a purpose.

Stablecoins are a great way to preserve wealth in countries where the currency is volatile or weak. They can also facilitate trade. Others are looking to fill the gaps left by the international banking system. As stablecoins spread and grow, it is worth keeping an eye out on who uses them, where they are going and what the powers-that-be want to do.

Infinite complexity

In 2021, I had a moment of clarity when I realized that, as a full-time crypto worker, I was utterly clueless about what was going on.

This next cycle will be the same as that, but a thousand times better. It's about alternative L1s such as SOL and AVAX creating thriving crypto ecosystems that rival Ethereum, with their own DEXs DAOs NFTs.

There are also inscriptions which is a controversial method of building NFT data packets directly into the information on the blockchain. People started with Bitcoin but are now putting inscriptions in any chain that they believe they can get some value out of, including L1s such as ETH and SOL whose only purpose is to facilitate these types of transactions. Oh good, now my nose is bleeding.

RWAs, or real world assets, allow you to tokenize ownership of anything from real estate, to sports teams, to art, to cars, to watches, to the right to hug The Rock. (This doesn't yet exist, but Dwayne could make it so). Then there's the gaming industry, which has a huge market and could become its own crypto universe.

It's going to get even more chaotic from here on out, so concentrate on the things you know, the ones you like, and accept the fact that you'll feel as if you're being told everything in ancient Sumerian.

History does not repeat itself

Bitcoin is halved every four years. Three boom-bust cycles of four years have occurred on the crypto market. Coincidence? Or is it predestined fate?

It's easy to believe that it will be the same as before, and it may well be! Trading is a great example of a truism: if you believe something will happen, it won't. This time around, there are many geopolitical headwinds and macroeconomic challenges that did not exist in the first decade of crypto.

Be as bullish as you like about 2024 - I'm sure I am – but be aware that things can quickly change and that the moment you are most certain of something, is also the moment that you lose your certainty.

Enjoy your New Year, you filthy degens. We'll see you in 2024. Pooblaster 2, tha moon.

Luke for CoinJar

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Shiba Inu's (SHIB), despite their remarkable progress this year, is not done yet. Lucie, Shiba's Marketing Leader, has recently shared plans for an ecosystem that may be implemented next year.

Shiba Inu to Get More Love

Lucie announced plans to launch new SHIB products on the Shibarium Network in a post she made on her X platform (formerly Twitter). Shibizens should expect to see play-to earn (P2E), Shibahub and Sheboshis in the coming year. Shib Metaverse is currently being developed, and she said that a big reveal was on the way.

Shiba Inu’s native decentralized (DEX), ShibaSwap is expected to also move from Ethereum to Shibarium in the near future. The move should have been made long ago. Shytoshi Kusema, the lead developer for Shiba Inu, said that the team wanted to concentrate on projects already built on the layer-2 networks before turning its attention to ShibaSwap 2.

Lucie did not provide a timeline as to when these plans might become a realty. She said that development would never end "when it's ready." She also believes there's no rush, since crypto doesn't require temporary success. It should "grow steadily and strongly for a safe, unshakable structure for all ."

 Source: SHIBUSD on Tradingview.com

Shiba Inus Have A Role to Play

Lucie reaffirmed the role of the community in building Shibarium. She encouraged community members to show their commitment to Shibarium by paying attention to the layer-2 networks. Lucie says that one way to do this is to use the Shibarium hashtags on all of their posts.

Lucie is confident Shibarium will keep onboarding new users. According to Lucie, the goal of Shibarium is to onboard one billion users. She and her team are determined to make Shibarium one of the top five blockchains.

Shibarium is likely to be ranked among the top blockchains as its network activity continues to grow. According to the Shibarium Explorer, in December alone the number of transactions has increased from 20 million to 207 million.

Shibarium processed over 5 million transactions per day during this time. This number will likely increase exponentially in the future, which could have a positive effect on SHIB.

Chart from Tradingview.com, Featured Image from Times Tabloid