Here are some facts we need to consider. Bitcoin's current market cap is $1.4 trillion, which is significantly larger than Saudi Arabia's GDP, three times UAE's GDP, and half of the GDPs of the United Kingdom and India. This is a remarkable achievement for an asset like Bitcoin. If its price surpasses $100,000, its market cap would exceed $2 trillion.
Firstly, it’s important to note that Bitcoin is not a stable asset. Many countries around the world do not accept it. Bitcoin and other cryptocurrencies are highly volatile; the market can experience significant declines due to a single piece of bad news. At the current price of Bitcoin, if a global conflict or another pandemic situation were to arise, the cryptocurrency market would likely suffer the most. This is because there are no daily-use product companies or bank reserves backing Bitcoin to provide stability.
As crypto traders, our focus should be on making money rather than being passionate about Bitcoin or cryptocurrency. Bitcoin may soon return to around $30,000. If you wish to double your investment, you could consider shorting Bitcoin at $68,400 with 5x leverage and closing it comfortably at $48,000. $BTC $SOL #btc #sol #Write2Earn!
🚨🚨Millionaire’s Dream: 8 Altcoins with Unbelievable Growth Prospects! 💲🚀🚀
These Altcoins Will Make The Next Generation Of Millionaires 💵 💵 💵 1️⃣: $RNDR (Render Token) Target: 15x 💰 Render Token (RNDR) is revolutionizing the digital creation space by leveraging decentralized GPU power. Artists and studios can render graphics more efficiently, leading to higher quality outputs. With increasing demand in the gaming, VR, and AR sectors, RNDR is poised for substantial growth. 🚀 2️⃣ $NEAR (NEAR Protocol) Target: 10x 💰 NEAR Protocol is a high-performance blockchain designed to provide the ideal environment for decentralized applications (dApps). Its unique sharding technology and developer-friendly environment make it a formidable competitor in the space. The ongoing growth of its ecosystem suggests a bright future. 🌟 3️⃣ $FET (Fetch.ai) Target: 15x 💰 Fetch.ai is creating an autonomous machine economy through AI and blockchain. Its platform enables the development and deployment of autonomous agents for various use cases, from supply chains to smart cities. With AI becoming more integral to our daily lives, FET has massive potential. 🤖 4️⃣ $ONDO (Ondo Finance) Target: 15x 💰 Ondo Finance focuses on structured finance solutions within the DeFi space, offering risk-optimized investment opportunities. As DeFi continues to mature and attract traditional finance participants, ONDO's innovative approach positions it for significant gains. 📈 5️⃣ $inj(Injective Protocol) Target: 20x 💰 Injective Protocol is a decentralized derivatives exchange that offers unique trading opportunities across a range of markets. Its zero-gas fees and fast transaction speeds make it highly attractive. With the growth of decentralized trading, INJ stands to benefit enormously. 🔥 6️⃣: $TAO (Lamden) Target: 15x 💰 Lamden (TAO) is a blockchain development framework aimed at simplifying the creation and deployment of new blockchains and dApps. Its focus on developer experience and seamless integration makes it a strong contender in the blockchain development tools sector. 🛠️ 7️⃣: $GRT (The Graph) Target: 20x 💰 The Graph (GRT) is an indexing protocol for querying data on blockchains. It has become an essential tool for many decentralized applications, providing fast and reliable access to blockchain data. As the demand for blockchain data grows, so does GRT's potential. 📊 8️⃣: $PIXEL (Pixel) Target: 30x 💰 Pixel is a project focused on integrating blockchain technology with digital media and advertising. By providing transparency and efficiency to the advertising ecosystem, Pixel aims to revolutionize how digital ads are managed and monetized. With the digital advertising industry constantly evolving, PIXEL has immense growth potential. 📸 $PIXEL $INJ
🚨DISCLAIMER!!!🚨 ~ 🚨Mt. Gox Repayments & #Bitcoin Market Impact🚨 ~ The situation related to Mt. Gox repayments is over-rated. Here's why: ~ Mt. Gox has started repaying its creditors, leading to concerns that this will push $BTC below $53k. However, I believe this fear is unfounded. ~ While Mt. Gox held approximately 150,000 #BTC , the repayment will be made in BTC rather than USD. This means there won't be a need to market dump Bitcoin to convert it to USD. The distributed BTC will be broken down into small portions among many creditors, reducing the threat of a large-scale market dump. ~ Many creditors are up significantly, potentially 100x on their BTC holdings. Selling immediately would result in a significant taxable event. While some may sell immediately, many are likely to hold their BTC, or sell overtime rather than selling immediately, reducing the potential impact on the market price. ~ 🚨 Mt. Gox Bitcoin Distribution Update:🚨
36% of the Mt. Gox Bitcoin has been distributed to creditors! Yesterday, 48,641 BTC was transferred from Mt. Gox Trustee wallets to Kraken Exchange. Kraken users received notifications about their BTC. ~ This significant movement marks the start of the real distribution process. The trustee still holds 90,344 BTC to be distributed over time. Stay tuned for further updates as the distribution continues! ~ Source charts are below:
GRAYSCALE has launched a new decentralized AI fund which seeks to provide investors with exposures to protocols in artificial intelligence sector within the crypto ecosystem.
🐂 GCR said today that we are still in a bull market. GCR is the person who: 😏Bearish market and short altcoins at the market top in November 2021. 😏Bet against Do Kwon and shorted #LUNA. 😏Remind people to withdraw funds when #FTX crashed. $BTC $ETH $BNB
Hello guys, just a small update on the market. Macro trend remains positive for now as long as we are above 65k. Most of the money is flowing into meme coins for now but we hope it starts flowing into fundamentally strong coins soon. We still have some nice setups forming on a lot of coins. It would be best to keep on accumulating strong coins such as $FET $INJ $RNDR
Since then , as mentioned earlier, the resistance at $6.825 got tested but the price was unable to break out of it and is retracing. Could range here .. there's no further setup until that resistance breaks .
You must be wondering why established and amazing ALTs are not rising whereas the memes are pumping non-stop.
This is because the newbie retail wants quick profits without any effort to do some research. So most of the liquidity is flowing into these memecoins.
My advice would be to stay steadfast, hold the line and keep conviction for you favorite ALTs because the liquidity will definitely flow back into the established projects.
My top picks for the upcoming ALT season are : $FET $RNDR $INJ
This is how manipulators control the market in the short term especially during non-working hours and weekends
In the picture below, you'll see that most US investors rushed to buy at the start of wall street working hours at around 9:30 AM EST time then this momentum cooled off over time. Only 10 minutes before the end of the working day at around 4:20 PM, this big selling order was setup to terrify day traders and knock them out leading to more price decline in the following hours up until now.
If you notice, even ETF issuers like blackrock has the right to borrow BTC or cash from coinbase exchange and sell/buy to manipulate the markets in the short term. These ETF issuers can provide competitive prices per share so they can draw more investors in if they can buy/sell at better prices than retail investors working with plain DCA
In an hour, whoever sold at 70k, will be able to buy today with more than a $1500 discount.
So, it's expected for prices to go back above 70k today
FET, AGIX, OCEAN Are Merging: What You Need to Know About ASI Token and Merger History
Possible Scenarios and FDV Calculation
With the merger, there will now be a single project in the market instead of these three projects. There are several different ideas on this subject. I will make a calculation with the resulting FDV (Fully Diluted Value) value.
As of May 25, when the article was written, Fetch.ai (FET) FDV is 2.72 Billion USD. SingularityNet (AGIX) FDV is 1.95 Billion USD. Ocean Protocol (OCEAN) has an FDV of 1.38 Billion USD. Total FDV is approximately 6.05 Billion USD.
We can calculate 6.05 Billion USD / 2.62 Billion ASI tokens = 2.0719 USD ASI token price. It should not be forgotten that a calculation is made here based on FDV values. How much of the token will be in circulation, its market value and, accordingly, its price may vary. With this calculation, ASI Token will rank 21st in the market cap ranking between Litecoin (LTC) and Internet Computer (ICP).
AGIX:
Let's say we buy AGIX worth 100 USD. The number of AGIX we will obtain at the current price is 95.42 AGIX.
The number of ASI Tokens we will obtain for 95.42 AGIX is 41.35 (95.42*0.433350)
OCEAN:
Let's say we buy 100 USD worth of OCEAN. The number of OCEANs we will obtain at the current price is 94.9 OCEANs.
The number of ASI Tokens we will obtain for 94.9 OCEAN is 41.14 (94.967*0.433226)
When you purchase 100 USD worth of FET token, which will be converted 1 to 1, the amount of ASI you will receive is 39.8 units.
Among the three current options, the one where you can make the most profit at current prices is to buy AGIX. For every 100 USD worth of AGIX, you will make 1.5 ASI Tokens (41.35-39,841) more than owning the same amount of FET.
Important information for $FET $AGIX $OCEAN holders.
LIVE
TheHunn
--
$FET , $AGIX , $OCEAN Merging: What You Need to Know About ASI Token and Merger Date What is ASI Token? FET will be positioned as the reserve token of the alliance. However, it will later transform into the Artificial SuperIntelligence #ASI Token. The conversion rate is 1:1. For every 1 FET you hold, you will receive 1 ASI Token. This renaming will bring about many changes in various aspects, which we will discuss in more detail later in the article. I Have FET Tokens. What Should I Do? If you hold FET tokens on a centralized or decentralized exchange, they will automatically become ASI tokens. You don't need to do anything. If you hold them offline in a cold wallet, it has been said that a swapping mechanism will be created for conversion after some time. You will be able to perform the conversion via a potential website. I Have OCEAN or AGIX Tokens. What Should I Do? Similarly, holders of OCEAN and AGIX tokens do not need to do anything. These tokens will also be converted into ASI Tokens. If you hold them offline outside of an exchange, a mechanism will be devised for this conversion. You will be able to perform the conversion from there. You can perform this conversion whenever you want after the platform is launched. The important point here is the conversion rates. FET tokens will convert at a 1:1 ratio. For every 1 FET you have, you will receive 1 ASI token. However, the conversion rate is different for OCEAN and AGIX. For every 1 OCEAN you have, you will receive 0.433226 ASI, and for every 1 AGIX, you will receive 0.433350 ASI token. These conversion rates will be fixed, and you will be able to perform the conversion whenever you want. An ex-employee of Ocean Protocol has prepared a website on this matter. By entering how many tokens you have there, you can see the conversion amounts and the amount of tokens you will receive.