Hedera

Impact

when

BlackRock

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 <p class="paragraph">The price of Hedera (HBAR) has surged dramatically in the short term, at one point experiencing triple-digit gains within the last 24 hours amidst alleged connections to the world’s largest investment firm, BlackRock (NYSE: BLK).</p>
 <p class="paragraph">The frenzy began when Hedera announced the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>ization of BlackRock’s ICS U.S. Treasury money market fund in partnership with Archax and Ownera. However, despite Hedera’s announcement, some supporters misinterpreted the situation, believing that BlackRock had chosen Hedera to <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>ize its fund directly.</p>
 <p class="paragraph">The misunderstanding reached a fever pitch when the HBAR Foundation, the organization overseeing the Hedera network, shared an X (formerly Twitter) post that implied a direct partnership between BlackRock with a video fuelling further speculation, suggesting that the investment giant was actively involved in the venture.</p>
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 <p class="paragraph">As a result of the <a rel="noopener noreferrer nofollow" title="confusion" href="https://thebittimes.com/tag/confusion.html">confusion</a>, HBAR <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s skyrocketed, hitting a high of $0.13 per <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>. However, the excitement was short-lived as it became clear that BlackRock was merely “aware” of the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>ization on-chain and was not directly involved in the project.</p>
 <p class="paragraph">Archax CEO Graham Rodfort also clarified that the decision to select Hedera came from their assessment rather than being influenced by BlackRock.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#Cardano fam, it gets so tiresome!<br><br>To be clear. Blackrock the actual institution did NOT select HBAR for tokenizing a fund of theirs. Blackrock had no involvement whatsoever and has no connection to the protocol.<br><br>What did happen was a HBAR project through the secondary market… https://t.co/0IeFo0xUPv</p>— Chris O (@TheOCcryptobro) April 23, 2024
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 <h2 class="wp-block-heading" id="h-what-next-for-hbar-nbsp">What next for HBAR?&nbsp;</h2>
 <p class="paragraph">As of press time, HBAR was valued at $0.129, experiencing daily gains of 48%. After trading in a relatively consolidated pattern on the weekly timeframe, the cryptocurrency has surged by almost 65% on the chart.</p>
 <p class="paragraph">Following the short-term <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movement, attention is focused on whether HBAR can sustain its momentum. For instance, in an X post on April 24,<em> CrediBULL Crypto</em> noted that Hedera is potentially poised for a significant upward movement based on a discernible pattern in its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> action.</p>
 <p class="paragraph">The analysis pointed towards a notable pattern termed a “nice 5 wave impulse off the lows,” indicating a robust upward movement in Hedera’s price from its recent lows. This pattern is often interpreted as a bullish signal, signifying a strong buying momentum in the market.</p>
 <p class="paragraph">However, the <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> highlighted that the initial step towards triggering this anticipated upward surge involves a lower timeframe market structure break. This break is a catalyst, igniting the momentum necessary to propel Hedera’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> upward.</p>
 <figure class="wp-block-image aligncenter size-full"><img decoding="async" width="680" height="342" src="https://cdn.thebittimes.com/images/2024/04/24/72c7d888bbe17e9bac95fac0ebc4e6e4.webp" alt class="wp-image-171294" srcset="https://cdn.thebittimes.com/images/2024/04/24/72c7d888bbe17e9bac95fac0ebc4e6e4.webp 680w, https://cdn.thebittimes.com/images/2024/04/24/72c7d888bbe17e9bac95fac0ebc4e6e4.webp 300w" sizes="(max-width: 680px) 100vw, 680px">
  <figcaption class="wp-element-caption"><em>HBAR price analysis chart. Source: TradingView/CrediBULL Crypto</em>
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 <p class="paragraph">Elsewhere, technical indicators for HBAR remain bullish despite the confusion stemming from the BlackRock situation. According to the summary of one-day gauges retrieved from <em>TradingView</em>, Hedera is experiencing a ‘strong buy’ sentiment at 15, which mirrors the moving averages‘ assessment at 13. Oscillators, however, are currently classified as ‘neutral’ at 8.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="194" src="https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp" alt class="wp-image-171295" srcset="https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp 1024w, https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp 300w, https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp 768w, https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp 1536w, https://cdn.thebittimes.com/images/2024/04/24/6b0521bb694e040a7387d8c7e475eaa1.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Hedera technical analysis. Source: TradingView</em>
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 <h2 class="wp-block-heading" id="h-impact-of-blackrock-nbsp">Impact of Blackrock&nbsp;</h2>
 <p class="paragraph">It’s worth noting that following the approval of the spot Bitcoin (BTC) exchange-traded fund (ETF), BlackRock has expanded its presence in the crypto world. For instance, last month, the company entered the real-world asset (RWA) tokenization sector by launching its USD Institutional Digital Liquidity Fund on Ethereum.</p>
 <p class="paragraph">Therefore, considering BlackRock’s stature in the financial world, it would have a monumental impact on the project if the company were to be directly involved with Hedera.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hedera-hbar-price-prediction-as-confusion-hits-over-blackrock-s-tokenized-fund-tbt86367.html">https://thebittimes.com/hedera-hbar-price-prediction-as-confusion-hits-over-blackrock-s-tokenized-fund-tbt86367.html</a></p>

Hedera (HBAR) price prediction as confusion hits over BlackRock’s tokenized fund

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