July 14th, Binance’s 7th Anniversary + Ethereum ETF Trading + European Cup Ends Fund Repatriation
Looking back to last year, when Bitcoin suffered a sharp drop from a high of 25,000 to the abyss of 19,000, it was Zhao Changpeng, the head of Binance, who stepped forward and spent $1 billion on the industry recovery fund to buy Bitcoin, Ethereum and BNB, injecting a shot of adrenaline into the entire cryptocurrency circle. As a result, Bitcoin took off like a rocket, soaring from 19,000 to 28,000 in just a few days, and then reached a new high of 31,000! Those seemingly desperate short orders instantly turned into fuel to boost the rocket's launch, and market confidence quickly recovered like the spring sunshine.
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News:
The German government has been selling off its BTC since the beginning of this month. The German government has sold off more than half of its BTC, from 50,000 to 23,700. There is no news of selling off in the Mentougou incident. There are still 5 days until the end of the European Cup, when the funds of institutions and gamblers will slowly return to the cryptocurrency circle.
From a cyclical perspective, September to November will definitely be a big uptrend! The probability of Ethereum ETF being listed this week is very high. In this case, Ethereum may rebound in the short term before falling, because it does not yet have the conditions for a big uptrend.
The cost of miners is between 49,000 and 53,000 US dollars, indicating that the bull market has reached the bottom. In 2020, the cost of miners will be touched and the price of pie will soar.
Trump's victory is a foregone conclusion, and the expectation of a rate cut in September is good news for the crypto community, so the fourth quarter will be a good time.
In the history of bull markets, there have been 5-6 30% corrections. This time, from 7.3 to 5.3, it is nearly 30%, which is in line with the rhythm of bull market corrections. Grasp the opportunity to get on board. It is worth a lot of money to buy a bull market. The big drop is a real opportunity.
The market is divided into four stages:
1/ General bear season: from the peak of the bull market to the bottom of the bear market, characterized by a general decline in the entire market.
2/ Washout season: from the bottom of the bear market to the starting point of the next bull market (this round starts on October 12, 2023), it is characterized by fluctuations and slight increases.
3/ BTC/ETH season: from the start of the bull market to the lowest point of the share of altcoins, it is characterized by a general increase, but BTC/ETH has increased more, and the market value share of altcoins has dropped to the lowest.
4/Altcoin season: From the low point of the proportion of altcoins to the peak of the bull market, it is characterized by general increases. Altcoins have risen the most, ETH has also risen very well, and BTC has only increased by 100%.
The above estimates are all based on market capitalization, so it may happen that the market capitalization of altcoins increases but the price does not.
Each stage lasts from 9 to 15 months, which seems to be relatively suitable at present.
The market is currently in the middle of the "BTC/ETH season". This round of the wash season is relatively short, so it is estimated that the BTC/ETH season will be longer. From a time perspective, the last round of "BTC/ETH" ended 8 months after the halving, and now it is 3 months after the halving, a difference of about 5 months.
From the perspective of the increase target, the total increase in the previous round in this season was 480%, and this round of BTC/ETH season increase was only 100%, which is far from enough.
At this stage, ETH is one of the best holdings, as it has performed very well in both the BTC/ETH and altcoin seasons.
The current market hype surrounding the expectation of interest rate cuts and the improvement in liquidity brought about by interest rate cuts will be the biggest external driving force for the subsequent outbreak of the crypto market!
Market analysis:
The oscillation structure of BTC daily line has reached the middle stage, and the oscillation range in the second half can only be said to be smaller. If it goes sideways, the upper and lower rails are 56930~58891. When the daily line amplitude is only 1%, there is not much room for operation. Just wait patiently for the opportunity to reverse operation after leaving the oscillation stage!
The support range is 55210~54930, and the suppression range is 58891 (short)~59677.
Is the interest rate cut coming? The ambush cryptocurrency will increase 100 times by the end of the year!
BONK
Bonk has gained recognition as the first dog-themed cryptocurrency on the Solana blockchain. Since its launch, the token has seen an incredible rally, posting significant gains in the first quarter.
Bonk’s price trend highlights its resilience, with continued significant growth sparking investor speculation that it could potentially reach the $0.1 mark in the near future. Meanwhile, the growing popularity of meme tokens continues to drive Bonk’s value upward. Leveraging the Solana blockchain, known for its scalability and speed, Bonk appeals to investors seeking a faster and more cost-effective alternative to Ethereum-based meme tokens. Additionally, data analysis is optimistic about Bonk’s ability to maintain its impressive issuance trajectory.
BABY
It is entirely possible for PEPE to rise to $1! Those who say that the circulation is too large, with 420 billion coins and a market value of $420 billion, should listen to the story of Bitcoin. In 2009, Bitcoin was only a few cents per coin, but more than a decade later, one coin is worth more than $70,000. Time is the key to price increases!
PEPE coin plays the deflation trick. Every transaction burns some coins. With less supply, it naturally becomes more valuable. Although there are not many updates now and there are countless deflation coins, this trick is still quite effective. You see, PEPE coin has increased a lot in a year, relying on its volatility and strength in the market. Many people don't notice it, but deflation is very helpful for long-term price increases.
BNB
BNB (Binance Coin) is the native token of Binance Exchange, and its value is closely related to the prosperity of Binance Exchange. As one of the world's largest cryptocurrency exchanges, Binance has a large user base and rich trading products, providing solid support for BNB.
In addition, BNB also plays a variety of roles in the Binance ecosystem, such as paying fees, participating in IEO (Initial Exchange Offering), etc., which further enhances its value and practicality. Therefore, BNB is also one of the altcoins worth investing in for the long term.
NOT
Notcoin’s price has performed well and the project has also contributed to the community. On July 5, their official Twitter account shared that more than 200 projects have been launched on Notcoin. These launches have attracted participation from 22.5 million users. By using the Play-to-Earn formula, they have built a community of 40 million players. Users will find many Web3 projects on Notcoin and earn rewards by interacting with them. Recently, the project launched the Telegram Gaming Accelerator in partnership with Helika Gaming.
Notcoin has seen a 55% drop in trading volume over the past 24 hours, with its market cap now sitting at $496 million. Negative sentiment is pervasive across the cryptocurrency market. Even Bitcoin, the largest cryptocurrency, has seen a 30% drop in trading over the past 24 hours. Notcoin hit a peak price of $0.0292 on June 2. Currently, Notcoin is down 45% from its all-time high.
Notcoin has not been badly affected by the bearish sentiment in the market. The coin has been stable due to the development of the project and the support of the community. This is just the beginning of its rise. As it rose 500% at the end of May, it still has a lot of room to rise.
SUN
Solana's on-chain DEX had a trading volume of over $2.4 billion yesterday, ranking first for three consecutive days. DeFiLlama data shows that Solana's on-chain DEX had a trading volume of $2.411 billion on July 8, ranking first for three consecutive days. In addition, Ethereum's on-chain DEX had a daily trading volume of $2.182 billion, ranking second; BSC's on-chain DEX had a daily trading volume of $1.758 billion, ranking third.
SOL (Solana) is a high-performance blockchain platform known for its fast transaction speed and low fees. Solana uses a unique consensus mechanism, Proof of History, which enables it to process thousands of transactions per second, far exceeding traditional blockchain platforms such as Ethereum. This technical advantage makes SOL have broad application prospects in fields such as DeFi (decentralized finance) and NFT (non-fungible tokens). Therefore, in the long run, SOL has the potential for long-term fixed investment.
WIF
BONK and WIF are two emerging altcoins that have attracted much attention recently. Although they have a small market value, they have shown strong vitality and development potential with their unique technical features and community support. For example, BONK adopts an innovative incentive mechanism and community governance model, which has attracted the attention and participation of a large number of investors.
WIF is committed to building a decentralized social media platform to provide users with a freer and more open social experience. Although these emerging altcoins have certain risks, they also have huge investment opportunities and potential.
TO US
ENS is not an actual altcoin, but a nickname used to represent the Ethereum Non-Name Service (ENS). ENS is a decentralized domain name system on Ethereum, similar to the DNS (Domain Name System) on the traditional Internet.
However, unlike ENS, NOT ENS may represent an exploration and attempt of a domain name system similar to ENS on other blockchain platforms. Although this exploration and attempt is full of uncertainty and risks, it also provides investors with new investment opportunities and ideas.
