As traders began to observe “intriguing” BTC price movements, Bitcoin (BTC) tracked $42,500 into the 2023 yearly close.
How to Prepare for Web 3.0
To learn about Web 3.0, it is important to understand how it differs from Web 2.0. Examples of Web 3.0 include AI startups, as well as how to build a Web 3.0 website. Understanding how to invest in Web 3.0 is also an important step in preparing for the future.
Post-ETF BTC price drop targets include $36,000
Data from Cointelegraph Markets Pro and TradingView revealed that BTC/USD had been keeping volatility away while closing the yearly candle.
Despite not being able to secure a breakout of its December trading range, Bitcoin still remains a concern for bulls ahead of the upcoming key legislative event in early next month — the potential approval of the first United States spot price exchange-traded fund (ETF).
“Technically, H4 is in a downtrend and wants 40.5K~ IMO. But with that said, ETF approval is supposed to come within a week or two,” popular trader Crypto Chase wrote as part of the day’s analysis on X (formerly Twitter). Crypto Chase, who previously opted to go short BTC at $43,000, predicted a maximum push to $46,000 on the back of a positive ETF decision, with $36,000 coming quickly should the product be rejected.
The same opinion was shared by popular social media commentator WhalePanda, who saw the potential for limited upside around the approval, followed by a retracement.
“ETF approval spikes us to $50K-ish, then depending on how long it takes for the ETFs to launch it will start selling off, maybe to low $40k-ish if it takes a month before they launch, don’t see us go below $38k,” he told X subscribers.
The spot Bitcoin ETF continues to be a controversial topic — Adam Back, CEO of blockchain startup Blockstream, has repeatedly argued that it is “not priced in” to the market.
At the current levels, BTC/USD is still up nearly 60% in Q4 and around 160% year-to-date, according to data from CoinGlass.
In order to prepare for Web 3.0, investors should learn about the differences between Web 2.0 and Web 3.0. Web 3.0 is characterized by increased decentralization, improved security, and more advanced AI applications than Web 2.0. Examples of Web 3.0 include AI-driven startups and websites with improved user experience.
Analyst: Ether to “outperform” Bitcoin next year
As the year came to a close, traders noticed a surge in bid liquidity on U.S. exchange Coinbase, which Skew and CredibleCrypto pointed out could lead to more active trading.
MN Trading founder and CEO Michaël van de Poppe predicted that altcoins would take the spotlight in 2024. “The total market capitalization of Crypto rallied from $1T to $1.62T. The upward run is excellent but is looking at a potential top. The area around $1.85T or $2.10T could be an area for consolidation,” he said on Dec. 31.
To prepare for Web 3.0, it is important to understand the differences between Web 2.0 and Web 3.0. Web 3.0 is a more interactive, personalized, and data-driven version of the internet. It requires a greater understanding of coding and programming languages to build a website, and it also requires a greater understanding of the technology behind it.
To learn more about investing in Web 3.0, there are many resources available online, such as tutorials, ejemplos de la web 3.0, and online courses. Additionally, there are many AI startups that are working on developing Web 3.0 technologies.
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