🔥 A list of 5 interesting tokens to keep an eye on this May 2024 👀
1) Renzo (REZ): 👀 This is a recent exciting addition to Binance. Renzo tackles the challenge of digital identity verification using blockchain technology. This could revolutionize online security and privacy. Price predictions for REZ are bullish, with estimates ranging from $0.30 to $0.70 this May.
2) Binance Coin (BNB): 👀 This is the native token of the Binance exchange, and it offers a bunch of perks to users. Holding BNB gets you discounts on trading fees and unlocks other features within the Binance ecosystem. With Binance being a major player in the crypto world, BNB is a solid choice. Predictions for May suggest a range of $590- $690, with the potential to climb higher if Binance keeps expanding its services.
3) Cardano (ADA): 👀 This project focuses on sustainability and offers a proof-of-stake system for validation, making it an eco-friendly option. It focuses on scalability and real-world applications, ADA is one to watch. Given its positive momentum, some analysts predict it could reach $0.80 - $1 by the end of May. However, this depends on overall market trends.
4) Solana (SOL): 👀 Known for its lightning-fast transactions, Solana is a major competitor in the blockchain space. However, it's also faced some challenges lately. Still, Solana has a strong development team and a passionate community. If they can overcome some hurdles, SOL could see a rebound. Price predictions for May range from $150 - $200, with the possibility of reaching higher if market shall be bullish.
5) Wormhole (WORM): 👀 This token facilitates seamless token transfers across different blockchains. As the crypto world gets more complex, the ability to move tokens easily becomes crucial. Wormhole could benefit from this trend. WORM's price has seen some ups and downs, but if cross-chain functionality becomes more sought-after, it could rise. Some analysts predict Wormhole could reach $0.80 - $1.50 by the end of May.
While I haven't personally been a victim of a crypto scam, I'm familiar with common tactics used by scammers. Here's a detailed breakdown of a typical investment scam:
Initial Contact: Scammers often reach out through social media, messaging apps, or cold calls, posing as investment advisors or representatives from reputable platforms. They might promise high returns on cryptocurrency investments.
Building Trust: To gain credibility, scammers may create fake profiles with seemingly positive reviews or endorsements. They might also use stolen logos or impersonate legitimate Binance personnel.
Investment Pitch: The scammer presents an enticing investment opportunity, often involving a new or unknown cryptocurrency with guaranteed high returns. They might pressure you into acting quickly to avoid missing out.
Fake Rebates: To sweeten the deal, scammers might offer initial rebates on your investment to make you feel comfortable and encourage you to invest more.
Request for Additional Funds: Once you've invested a certain amount, the scammer might invent reasons to request more funds, such as "transaction fees," "upgrades," or "minimum investment requirements."
Disappearance Act: Once they have your money, scammers often vanish, blocking communication and taking your invested funds with them.
Expectations from Binance
I believe Binance can play a crucial role in combating crypto scams by:
User Education: Continuously educating users about common scams through targeted warnings, articles, and awareness campaigns.
Enhanced Security Features: Implementing multi-factor authentication (MFA) and other security measures to make it harder for scammers to steal accounts.
Prompt Scam Reporting: Providing a user-friendly system for reporting scams and taking swift action to investigate and address them.
Collaboration with Law Enforcement: Working with law enforcement agencies to track down and prosecute scammers.
With the recent move to 52k+ prices, some have claimed the #Bitcoin 4-year cycle is now out of the question.
Their evidence, the .618 cycle retrace.
This retrace has marked the mid-top for each cycle, a point that comes in the middle of the cycle and brings large corrections (40 - 54%) and sideways periods.
Price has now surpassed it seemingly defying the rules.
But what if this is standard? There is a chance it may be.
The best way to measure these retraces is from weekly candle bodies, which allows us to include Cycle 1.
When we do this, we find that cycles have always made two primary tops above the .618.
This would have made 49k the first, and the second is in progress.
The amount that each cycle has risen over the .618 has been between 6 and 26%. This cycle is at 13.5%.
Even a weekly candle close occurred in 2016, making our close above not out of the ordinary.