↘ Loom Network Prevails amid Crypto Market Pressure; Binance Action Impacts Outlook
Bitcoin ETFs have seen an outflow of $400 million amid concerns about US inflation. Hut 8 , a Bitcoin stock, has had a strong performance,...
The Loom Network has taken the crypto market by a storm. It is spearheading the bull market along with Ontology and Simon’s Cat, as Bitcoin hovers around stagnant prices. Noteworthy trader Peter Brant predicts Bitcoin at $135K by 2025 but cautions of short-term challenges. This has lead several to speculate whether Bitcoin will reach $67K as significant liquidation thresholds hover. Furthermore, Bitcoin confronts various factors like worldwide stimuli, US elections, and FTX payments.
Simultaneously, Nvidia's earnings have sparked a rally in AI Tokens. The European Union is preparing for new cryptocurrency regulations with the formation of the MiCA Crypto Alliance. LOOM, however, has seen staggering price surges of 200%, aiming to hit $1 soon. Nevertheless, it faces potential sell-off pressure from OP and YGG. Bitcoin, in the meantime, is speculated to drop to a $40k level due to looming Federal rate cuts.
Binance has announced plans to convert Monero and Bitcoin Gold to USDC and delist the Loom Network. This, along with crypto market pressure from $2B worth of altcoin token unlocks and $11B Bitcoin distribution, raises concerns. Despite these challenges, Loom Network's price forecasts remain bullish for 2024, 2025, 2030. However, with looming threats like new stablecoin regulations in Europe and removal of various spot pairs offered by Binance, it remains to be seen how LOOM will weather this environment.
LOOM Coin News Analytics from Sat, 26 Jul 2014 07:00:00 GMT to Fri, 11 Oct 2024 12:45:26 GMT - Rating 6 - Innovation 2 - Information 8 - Rumor -4