đš DONT MISS IT đš đđ„BREAKING AFTERNOON NEWS âïžđš đ đ„Check belowđ„ đ'Quantile Regression' Bitcoin price model hints at $275K BTC by November 2025. A Bitcoin researcher sees a quasi-exponential decay trend that could see BTC price going as high as $300,000 in 2025.đč đVitalik Buterin says he supports the existence of Hezbollah betting section on Polymarket. Buterin said it wasnât about âmaking money from bad stuff happening" but rather âcreating an environment where speech has consequence."đč đEthereum Gas Fees Surge 498% in Just Two Weeks. Over the last two weeks, the gas fees to use Ethereum have skyrocketed by 498% due to a jump in network activity. According to a report from Coinbase published on September 27, the average gas fees between September 16 and September 26th were nearly five times higher than usual.đč đRipple Labs Bags In-principle Approval from Dubai Regulatorđč đSynthetix Set for Major Revamp as Overhaul Receives 99% Backing from SNX Holdersđč Dont forget to follow @CryptoTalks for more BREAKING NEWS đžđ„
Crypto trader turns $1.3k into $3.4 million in 15 days
A cryptocurrency investor has taken advantage of the ongoing boom around meme cryptocurrency Moo Deng (MOODENG) to record over 2,500-fold returns on their initial investment. The gains by the unidentified investor came from an investment of $1,331, which turned into a staggering $3.4 million in a trading initiated on Raydium, an automated market maker (AMM) platform built on Solana (SOL) involving the MOODENG/SOL pair, data shared by Lookonchain indicates. The trade occurred on September 10, when the trader purchased 38.7 million MOODENG tokens for 9.8 SOL, valued at $1,331. Just two weeks later, on September 25, the value had skyrocketed, pushing the total worth to over $3.4 million, thanks to a sharp rise in the price of MOODENG, powered by the growing virality of the token on social media.
Indeed, MOODENG continues to witness notable growth powered by the meme coinâs community. At press time, the token was trading at $0.0948, surging almost 30% in the last 24 hours.
Thanks to its inspiration, the coin has attracted significant investor interest. MOODENG was named after a baby pygmy hippo at Khao Kheow Open Zoo in Thailand, which has become an internet sensation. Traders profiting from MOODENG Itâs worth noting that several traders have capitalized on Moo Dengâs virality to register significant profits in a short period. Another trader saw their investment of $800 turn into $1.3 million within two weeks. However, these trades have sparked controversy, with online users speculating that the lucky traders might be the tokenâs insiders or part of the development team. Whatever the case with the trade, developers of MOODENG seem to be capitalizing on the growing trend of unveiling meme coins on Solana. The network has emerged as a popular launchpad for meme coins, with popular names like Bonk (BONK) standing out. Although MOODENG ranks among the few success stories of the current market cycle, not all tokens have seen positive returns. For instance, investors in coins such as MBAPPE have erased almost $1 million from a traderâs investment. Due to their inherent volatility, this highlights the need for thorough research before investing in meme coins. Not financial advice! follow @CryptoTalks
âUptoberâ looms for crypto as Tetherâs market cap hits a record high
After a tough September, the non-subtle moves of the Tether (USDT) stablecoin may have offered a subtle hint that October will truly live up to its nickname of âUptoberâ for the cryptocurrency market. Indeed, the market capitalization of USDT has been steadily rising in recent weeks and months and has rocketed from about $118.8 billion to $119.2 billion â a new all-time high (ATH) â in the last seven days alone, per the date retrieved from CoinMarketCap in the morning of September 23.
The most recent rise follows a market cap increase of $1.5 billion in the last 30 days and of approximately $36 billion in the last 12 months. Such changes in valuation could hint that many cryptocurrency investors are preparing for a buying spree of various digital assets.  It is not uncommon for traders to acquire significant amounts of USDT to make their prepared market activities easier due to the stablecoinâs ability to facilitate quick trades in various digital assets. Why investors are optimistic about âUptoberâ The optimism around âUptoberâ stems not only from Bitcoinâs (BTC) 8.10% climb to $63,464 last week but also from a broader positive sentiment in the market. Ethereum (ETH) for instance added $40 billion in last week. In fact, BTC is now poised to experience its strongest September on record, and there are some hopes it may hit $70,000 during âUptober.â Crypto analysts predict âdumb bulls will be rewardedâ Additionally, prominent crypto analysts, including Ali Martinez, have, in the second half of September, concluded that technical indicators point toward the beginning of an alt season. On September 21, an X user known as Honey made a comment highly illustrative of what is now widely expected of the cryptocurrency markets: âI think we are approaching the part of the cycle where dumb bulls will be rewarded more than smart bears.â Bitcoin bull run or an altseason? Still, there is some debate whether a Bitcoin bull run will coincide with the altseason and which of the two is set to take place. For example, while analysts like Scient consider the worldâs premier cryptocurrency is set for a move up, others â including the prominent trader Credible Crypto â are bearish about BTC but betting on altcoins like Solana (SOL) and Curve (CRV). Bitcoinâs next move might offer some insight into what lies ahead for the broader cryptocurrency market as it is hovering near the price level that would end the trend of lower lowers being followed by lower highs that has been prevalent through much of the summer. Could Tether cause a âCrashtoberâ instead? There may also be a broader, systemic risk in the rising dominance of Tether â now estimated at about 69% â as the company has been facing scrutiny for a long time over faking its dollar reserves. Indeed, multiple commentators and actors within the industry have long questioned the sustainability and stability of USDT due to the danger of the stablecoin being backed by nothing. Tetherâs long-standing promise and evasion of an outside asset audit have done little to deter doubters and alleviate the concerns. If the most dire allegations are proven correct, it would send shockwaves through the crypto market. Still, it is worth pointing out that, at press time, there is no definitive proof that USDT is, in fact, unbacked. If its recent market growth has been legitimate, it is more than likely that it will soon translate into a particularly strong October for digital assets. Not financial advice! follow @CryptoTalks
Crypto millionaire loses over $40 million with this trade
James Fickel is one of the worldâs richest cryptocurrency investors, with an estimated millionaire crypto net worth of $400 million. The millionaire, however, has lost over $40 million in a series of decentralized finance (DeFi) leveraged trades since January 2024. In particular, James Fickel has opened long Ethereum (ETH) positions against Bitcoin (BTC) this year, effectively shorting BTC with ETH. For that, the crypto millionaire has borrowed Wrapped Bitcoin (wBTC) on Aave, trading it for Ethereumâs native token. He borrowed 3,061 wBTC, worth $172 million, exchanging it for 56,445 ETH from January 10 to July 1. On average, the ETH/BTC exchange rate was 0.05424 wBTC per Ether, according to a Lookonchain report.
However, since August 7, the multi-millionaire crypto investor has been partially closing this position, repaying his debt at a loss. Overall, James Fickel re-purchased 882 wBTC with $12 million in USDC and $39.9 million worth of 16,000 ETH at an average exchange rate of 0.042 ETH/BTC. The wBTC debt on Aave is now 2,196, worth over $132 million, per the report, losing $43.7 million. James Fickelâs millionaire crypto net worth The multi-millionaire investor holds nearly $400 million in crypto tokens, mostly made of ETH derivatives. This suggests Fickel is an active DeFi user, focusing on the Ethereum ecosystem.
Besides being a millionaire crypto investor with this massive position on Ethereum, James Fickel is also a longevity entrepreneur. He is the founder of the Amaranth Foundation, a longevity and neuroscience research firm that studies aging solutions. ETH/BTC price analysis In the meantime, the ETH/BTC pair trades at around 0.04064, ranging in what an analyst believes is support. CryptoAmsterdan highlighted a key accumulation zone in ETH against BTC, close to the pairâs lows after a huge downtrend.
In summary, the trader believes Ethereum will soon surge in a parabolic rally against the leading cryptocurrency. Should this happen, the millionaire James Fickel would have capitulated from his crypto position at the worst possible moment. Not financial advice! follow @CryptoTalks
Dogecoin price prediction as Elon Musk resumes DOGE promotion
Dogecoinâs (DOGE) growth is significantly attributed to support from Tesla CEO Elon Musk, whose mention of the meme cryptocurrency has attracted investor interest. Recently, after seemingly taking a break, Musk appears to have resumed promoting DOGE through his X account. One of the latest developments occurred on September 7, when he made a post that was viewed as indirectly alluding to Dogecoin. The post read, âDepartment of Government Efficiency,â abbreviated as âDOGE.â It stirred conversation within the Dogecoin community, triggering anticipation of a possible price rally. Building on the post, another user with the pseudonym âDogedesignerâ created a meme referencing Muskâs post. The image featured a photoshopped meme of Musk from the movie âThe Lion King,â depicting the billionaire as Rafiki holding up Simba, symbolizing Dogecoin alongside the acronym DOGE. Interestingly, Musk reacted to the post, suggesting that the image should be the mascot of the purported government agency. Additionally, Musk once again referenced the meme token when recalling his attempts to promote it during his 2021 Saturday Night Live (SNL) appearance. While reminiscing about the moment during an appearance on the All-In Podcast, Musk revealed that he went off script. Overall, Dogecoin has reacted positively to Muskâs mentions, with the token showing notable short-term strength. Notably, the gains by Dogecoin have likely come as a surprise, considering the meme coin has recently shown minimal reactions to Muskâs mentions. Dogecoin price prediction Based on Muskâs renewed promotions, ChatGPT-4o analyzes how Dogecoin might trade in the coming days. The AI tool offered three possible scenarios based on this. In a bullish case where the SpaceX founder maintains positive mentions about the coin and its possible integration into his companies, DOGE could rally between $0.12 and $0.15 in the short term. In a moderate case where Musk cools down on his mentions, ChatGPT-4o predicted that Dogecoin could stabilize at its current level, provided the market sentiment remains positive. The tool foresees the meme coin trading between $0.10 and $0.12. Alternatively, if the general market sentiment remains bearish and Muskâs promotions are viewed as lacking substance, the AI model noted that DOGE could plunge to around $0.08 to $0.09. On the other hand, with Dogecoin seemingly enjoying short-term bullish sentiments, crypto analyst Ali Martinez, in an X post on September 9, offered several possible price movements at play for the meme coin.
The expert observed that Dogecoin was forming a classic âfalling wedgeâ pattern on the daily chart, typically viewed as a bullish reversal trend. According to Martinez, the cryptocurrencyâs ability to maintain a close above the $0.10 mark could trigger a breakout, likely ushering in a rally toward the $0.15 level. Dogecoin price analysis At press time, Dogecoin was trading at $0.102, reflecting daily price gains of almost 5%. On the weekly chart, DOGE is up over 5%.
Despite the short-term positive momentum, DOGEâs technical analysis points to a more bearish outlook, possibly aligned with the near-term market sentiment. According to one-day gauges retrieved from TradingView, a summary of the indicators aligns with âneutralâ same to moving averages at 8 and 1, respectively. On the other hand, oscillators are for a âsellâ sentiment with ratings of 2. Finally, with the cryptocurrency market showing weakness at the moment, Muskâs mentions of DOGE will go a long way in helping stabilize the price above the $0.10 support level. Not financial advice! follow @CryptoTalks
Hereâs XRPâs next target with âbearish signal in the makingâ
Latest technical indicators suggest that XRP investors may have to wait longer for a price breakout, as the token is flashing bearish signals. In this context, cryptocurrency analyst Alan Santana highlighted the bearish probability in a TradingView post on September 1, noting that this signal emerged after XRP broke below the critical 55-day exponential moving average support level. Notably, this level has historically indicated significant downward movement. According to Santana, XRP has been testing the EMA55, and the drop could signal the start of another major decline. This pattern is not new; similar breaks below the EMA55 in April and August led to substantial drops in the tokenâs value.
The analyst indicated that XRP could be on course to test lower support zones. Specifically, the next potential targets are in the $0.453 to $0.455 range, marked by the 0.786 Fibonacci retracement level. If the bearish momentum intensifies, the cryptocurrency could drop to as low as $0.388, a critical support level highlighted by the 0.886 Fibonacci retracement. While Santana emphasized that the bearish signal needs further confirmation, he noted that current market conditions and historical precedents suggest a high probability of continued downward movement. The formation of long-term and short-term lower highs, coupled with strong bearish action, supports this outlook. Indeed, this bearish prediction comes when XRP faces increased pressure after Ripple unlocked one billion tokens on September 1. While token unlocks often lead to short-term price declines due to increased supply, the long-term impact depends on various factors, including market sentiment, project fundamentals, and overall market conditions. XRPâs bullish outlook Looking at the long-term price projection, a crypto analyst with the pseudonym Brett Crypto pointed out that XRP seems stuck in a time loop. The expert noted that despite the long-awaited resolution of its legal entanglement with the Securities and Exchange Commission (SEC), XRPâs price remains in a tight range, oscillating between $0.49 and $0.61. According to technical analysis, XRP is bouncing around key Fibonacci retracement levels, a telltale sign that the cryptocurrency is moving in a predictable pattern. Historical price data also suggests that XRP has been in this position before, and each time, the price either catapults higher or sinks lower, depending on market sentiment. Brett Crypto noted that if XRP breaks out of the current price level, it might lead to âfinancial fireworks,â with the next high target at $0.90. XRP price analysis As of press time, XRP was trading at $0.55 with daily losses of about 1.5%. On the weekly chart, the token is down over 7%.
Overall, amid the current movement, XRP is showing moderate volatility at 5.03%, indicating that the token has not experienced extreme swings and reflecting a relatively stable trading environment. At the same time, the 50-day simple moving average (SMA) for XRP is $0.577181, which is slightly above its current price. Trading below this short-term average suggests a bearish trend, with potential resistance around this level if XRP continues to trade below it. On the other hand, the 200-day SMA is $0.546855, indicating a bullish market happens when,an extended period of time.) long-term trend. Being close to the 200-day SMA suggests that XRP is near a key support level; holding above this level could be crucial for any potential upside. Not financial advice! follow @CryptoTalks
Andrew Tate says heâll buy $1M of this crypto at 10 million followers
Social media personality and former kickboxer Andrew Tate is known for his involvement in the cryptocurrency sector and commitment to making further investments in select digital assets. In his latest move, Tate announced plans to invest $1 million in Daddy Tate (DADDY) coin once he reached 10 million followers on the X social media platform. Tateâs growing follower base, currently around 9.9 million, has contributed to the short-term growth of the Solana-based meme coin. Over the past few months, Tate has actively promoted DADDY, including burning over $150 million of the token to influence its supply and value. Impact of Tateâs $1 million investment in DADDY If Tate follows through with his planned investment, it will significantly contribute to DADDYâs utility, which he has promised to push to $1 billion in market capitalization. This potential $1 million purchase comes in the wake of accusations against Tate of insider trading related to DADDY. At launch, insiders purchased 30% of the total supply, with Tateâs wallet linked to this activity. Notably, the token ecosystem is expanding its utility, including the planned introduction of staking. With staking, users can stake their tokens in exchange for TRW tokens, further enhancing the coinâs functionality. Additionally, Tate plans to integrate DADDY with his Real World University, offering exclusive access to holders of the meme coin.
Like other meme coins, DADDY faces controversy regarding token distribution among a few investors. As of August 26, data from Solscan indicates that the top ten accounts hold over 22% of the tokenâs supply. Elsewhere, Tate has previously expressed his dissatisfaction for the traditional finance system, prompting him to make a commitment to convert $100 million worth of fiat currency into Bitcoin (BTC). DADDY price analysis Overall, DADDY has experienced significant volatility but recently showed bullish momentum, breaking above key resistance levels. As of press time, the token was valued at $0.093, reflecting a weekly growth of about 28%. On the daily chart, DADDY is up 15%. In the meantime, with the meme coin still lacking key fundamental drivers of price growth, DADDY investors will rely on overall market trends and hope that Andrew Tate and his brother Tristan Tate avoid further legal troubles in Romania. Not financial advice! đ„ Follow @CryptoTalks
Machine learning algorithm predicts SHIB price on August 31, 2024
As the larger part of the cryptocurrency industry is going through a cooldown, the popular dog-themed meme coin Shiba Inu (SHIB) is no exception, as it is recording declines on all of its recent price charts, and machine learning and artificial intelligence (AI) algorithms are not optimistic. Indeed, the crypto winds seem to have slowed down lately for the majority of digital assets, including Shiba Inu, the currently 13th-largest asset in the crypto sector by market capitalization, despite the latest innovations in the form of the launch of the ShibTorch burn portal on the Shibarium network.
Shiba Inu price prediction
As for its performance in the following weeks, Shiba Inu could continue to trade in more or less the same manner, concluding the month at the price of $0.000013, which is what advanced AI and machine learning models deployed by crypto market analytics and forecasting platform Price Predictions project for August 31, 2024.
More recently, however, it has come to light that SHIB is facing selling pressure from futures trades, considering that the Coinglass Crypto Derivatives Visual Screenerâs plot of SHIBâs open interest (OI) versus price demonstrates that shorts are opening, signaling that traders are anticipating further declines. Shiba Inu price analysis
For the time being, SHIB is changing hands at the price of $0.00001333, reflecting a 1.51% decline in the last 24 hours, dropping 4.92% across the previous seven days, and accumulating a loss of 25.16% over the past month, albeit advancing 29.41% since the yearâs turn.
Ultimately, SHIB could continue making bearish movements (or lack bullish ones) toward the end of this month, although the market could yet price in the positive developments in its ecosystem. Regardless, doing oneâs own research and keeping up with any SHIB news is critical when investing in this crypto asset. Not financial advice! follow @CryptoTalks
Crypto trader turns nearly $1M into $18,000 in 4 hours
With renewed optimism in the cryptocurrency market, traders have jumped again into meme coin speculation driven by the fear of missing out. As a cautionary tale, a crypto trader just lost nearly $900,000 worth of Solana (SOL) in this player-vs-player game. On August 8, Lookonchain urged investors to âplease donât FOMO buy meme coinsâ while reporting these millionaire four-hour losses. This particular token was Restore The Republic (RTR), with a political bias in anticipation of the U.S. presidential election. As reported, the anonymous trader bought 7.2 million RTR with 5,800 SOL, worth $916,400. This purchase happened at the meme coinâs highest price, indicating a fear of missing out that backfired. Four hours later, RTR crashed, forcing the trader out of their position, capitulating for 113.3 SOL, worth $18,000. With that, $898,500 vanished from this speculatorâs wealth, distributed to the ecosystem after an emotional play, according to Lookonchain.
Political and celebrity meme coins The rise and popularity of meme coins marked 2023 and 2024 crypto bull rallies, getting tradersâ attention and money. These cryptocurrencies are known for not having a clear value proposition, simply representing an idea or internet meme. In particular, political and celebrity-themed tokens made the most success among speculators, moving billions of dollars in decentralized exchanges (DEX). From Donald Trump to Iggy Azalea and Andrew Tate-related tokens, crypto traders won and lost capital following FOMO from one speculation to another. Experts usually relate meme coins to the âGreater Fool Theory,â which studies the rise and fall of financial bubbles. According to the theory, people who buy into overvalued assets can still profit from âgreater foolsâ who buy after them. At one point, however, new buyers will become scarce, leading to aggressive crashes like seeing with RTR. Thus, cryptocurrency traders and investors should avoid becoming the "greater fool" by investing in buzz-driven assets and favor solid fundamentals instead. Not financial advice! follow @CryptoTalks
As the world wakes up to the widespread crash of multiple markets, including in the cryptocurrency industry, Shiba Inu (SHIB) is no exception to the ongoing situation, recording massive declines across charts, and artificial intelligence (AI) algorithms are pessimistic as well. Indeed, Shiba Inu has followed the wider trend in the crypto sector, which has seen quite a few crypto assets dipping dramatically, including the flagship decentralized finance (DeFi) asset, Bitcoin (BTC), which itself has witnessed a price decline of over 15% in a single day. Shiba Inu price prediction In this context, the advanced AI and machine learning algorithms over at the crypto analytics platform PricePredictions suggest that the decline might continue for the popular doge meme token, culminating with a price tag of $0.000009730 on August 31, 2024, as per data retrieved on August 5.
Specifically, this price target, if correct, would indicate a decline of 14.72%, according to the platformâs algorithm, which employs technical indicators like moving average convergence divergence (MACD), relative strength index (RSI), average true range (ATR), Bollinger Bands (BB), and others. On the other hand, Aaron Arnold, the host of the Altcoin Daily channel, has singled out Shiba Inu as one of the meme coins that could potentially explode before 2025 â as part of the several altcoin narratives to pay attention to and position oneself for a projected altcoin surge. It is also worth noting that SHIB gained prominence in Q4 2024, experiencing remarkable growth alongside Litecoin (LTC) and Solana (SOL) in terms of crypto payments, surging after CoinGate added support for it on the BSC and Polygon (MATIC) networks, according to the platformâs report from July 25. Shiba Inu price analysis
For the time being, Shiba Inu is changing hands at the price of $0.00001141, which represents a 19.22% decrease in the last 24 hours, a drop of 33.48% across the previous seven days, an accumulated loss of 26.85% on its monthly chart while still holding onto the 13.64% gain since the yearâs turn. Overall, things might look bleak for the price of SHIB in the following few weeks, as well as for the majority of assets in the crypto sector, but they might not stay that way. That said, doing oneâs own research and keeping up with any SHIB news is important when investing, as trends can easily change. Not financial advice follow @CryptoTalks
Bitcoinâs 13-year trend predicts when BTC will peak at $200,000
Bitcoin (BTC) has once again failed to breach the $70,000 resistance zone, exhibiting volatility in the last 24 hours, with the crypto dropping to below $67,000 at some point. Indeed, Bitcoin failed to capitalize on Republican presidential nominee Donald Trumpâs bullish sentiments about incorporating the crypto into the United States Treasury. Despite Bitcoinâs short-term price volatility, analysts maintain that the maiden crypto is destined for a new all-time high. Particularly, in an X post on July 27, analyst apsk32 indicated that Bitcoinâs historical price movement models have a target of about $200,000. The analyst detailed an examination of Bitcoinâs price movements over the past 13 years, which has provided a striking prediction for its future. In projecting the next Bitcoin target, the analyst deployed a combination of a power law and an exponential decay model. Notably, the âBitcoin Power Law Cycle Cloudâ illustrates Bitcoinâs historical price behavior within two primary bounds: the power law lower bound and the exponential decay upper bound. These bounds create a channel within which Bitcoinâs price has oscillated, adhering closely to these mathematical models over the years.
According to apsk32, the lower bound of this channel is defined by a power law equation, which has reliably supported Bitcoinâs price. The upper bound, meanwhile, is determined by an exponential decay of the peaks, effectively capping the highest values that Bitcoin has achieved. Bitcoinâs $200,000 peak Based on the analysis, Bitcoin is projected to reach a peak of $200,000 by 2025. This peak prediction aligns with the upper bound established by the exponential decay model. However, the projection doesnât just stop at the peak. Following this anticipated high, Bitcoinâs price will decline significantly, falling to around $85,000 by 2026.
âA power law equation provides a lower bound, and an exponential decay of the peaks provides the upper bound. We can hope it will change while staying aware of this 13-year trend. What does that mean for this cycle? (1) Bitcoin will peak at or below $200k in 2025. (2) Bitcoin will fall to $85k in 2026,â the expert said. Itâs worth noting that the power law and exponential decay models have consistently predicted Bitcoinâs price movements over the past 13 years. Interestingly, apsk32 pointed out that the model aligns with predictions made by other key players, such as MicroStrategyâs (NASDAQ: MSTR) Michael Saylor, who has shared different price targets for the cryptocurrency. Speaking at the 2024 Bitcoin Conference, Saylor predicted that in a base scenario, Bitcoin could reach $13 million, or 7% of global wealth, with a market cap of $280 trillion and an annual return of 29%. Saylor envisions Bitcoin soaring to $49 million, or 22% of global wealth, in a bullish scenario. Bitcoin price analysis Bitcoin was down almost 1% in the 24-hour timeframe by press time, trading at $67,470. On the weekly chart, it is up nearly 0.8% after recording a high of about $69,300. As things stand, Bitcoinâs main obstacle remains reclaiming the $70,000 mark, but investors should keep an eye on the $67,000 support. Not finanical advice! follow @CryptoTalks
If you invested $1,000 in this ChatGPT altcoin portfolio, youâd be this much in profit
The AI platform recommended investments in Ethereum (ETH), Polkadot (DOT), and Solana (SOL). Since then, the cryptocurrency market has experienced significant movements, and those who took the advice of ChatGPT have seen notable returns on their investments.
Ethereum was trading at $2,087 on December 2. As of today, the second-ranked crypto by market cap is trading at $3,485, representing an increase of approximately 67%. Notably, Ethereum continues to show potential for further gains, considering the market is anticipating the rollout of the spot Ethereum exchange-traded fund (ETF) in the United States. On the other hand, Polkadot was trading at $5.4 on December 2, and it is now trading at $6.26, marking an increase of about 15.93%. Solana was trading at $59 on December 2, and today, it is trading at $178, an increase of approximately 201%. Indeed, SOL was partly aided by network-specific catalysts, such as the significant interest in the meme coins launched on the platform. The cryptocurrency portfolio returns In gauging the return of this portfolio, an initial investment of $1,000 should be assumed to be equally divided among the three altcoins. This means $333.33 was invested in each altcoin. For Ethereum, an initial investment of $333.33 would have bought approximately 0.1597 ETH, now worth about $556.01. With Polkadot, the initial investment would have bought approximately 61.73 DOT, now worth about $386.43. For Solana, the initial investment would have bought approximately 5.65 SOL, now worth about $1,006.70. Summing up each investmentâs current values, the portfolioâs total value today is approximately $1,949. This means the initial investment of $1,000 has yielded a profit of $949, translating to a 94.91% return. Therefore, investors who followed ChatGPTâs altcoin portfolio recommendation back on December 2 have nearly doubled their initial investment. It is worth noting that during this period, the altcoins recorded significant price increases, aligning with Bitcoinâs all-time high recorded in early 2024 in the wake of the approval of the first Bitcoin ETF in the US. Not financial advice follow @CryptoTalks
Prediction market prices a 70% chance of Trumpâs re-election after assassination attempt
Donald Trump was shot in the ear during a Pennsylvania rally on July 13, suddenly boosting the candidateâs popularity. The prediction market now prices a 70% chance of Trump winning the 2024 U.S. presidential election, up 10% day-over-day. As observed, the former presidentâs popularity has increased over time but had an impressive boost with the recent event. Related keywords are trending everywhere, evidencing the significance of what happened on Saturday for the country and the presidential election.
More Donald Trump and presidential electionâs related predictions Moreover, Polymarket traders are also betting on related predictions to Donald Trumpâs assassination attempt and the election. For example, the market puts a 79% chance of the shooter being a ârogue actorâ while saying there is a 100% chance that the gun used in the event was real. From another perspective, 45% of the market believes Joe Biden will drop out of the presidential race, dividing opinions.
How Polymarketâs prediction market works Prediction markets have been provably accurate sources of future events, often more precise than legacy polls and surveys. Notably, the cryptocurrency market and the use of cryptocurrencies to place bets and receive rewards have opened the doors for traders worldwide to profit from accurate predictions and asymmetries, increasing the value and accuracy of these markets as the volume and accessibility grew. Essentially, if someone believes Donald Trump has a better chance than 70% of winning the 2024 presidential election, he can profit from purchasing a share of this prediction, worth $0.70. If Trump wins, everyone with a âwinâ bet will receive $1 per share, profiting $0.30 per share. As things develop, the odds of a win are expected to change, and the prediction market is now closely watching. Not a financial advice! Follow @CryptoTalks
New signal shows Bitcoin bearish wave still unraveling; Is $50k next?
As Bitcoin (BTC) attempts to hold above the $57,000 mark, a crypto analyst has warned that investors might need to brace themselves for further correction. In a July 8 post on TradingView, analyst Alan Santana provided a detailed breakdown of Bitcoinâs current bearish trends, supported by crucial volume indicators and price movements. Santanaâs analysis focused on significant volume trends observed over the past few months. For instance, on March 5, Bitcoin experienced its highest daily volume in years, but the session closed red. This high-volume day marked the beginning of a 111-day trend of decreasing volume, broken on June 24 with a volume breakout. That trading day saw above-average volume and closed in the red, indicating strong selling pressure. On July 5, Bitcoin saw another high in daily trading volume, with the session once again closing red, reinforcing the bearish sentiment.
Notably, Santana raised critical questions and provided insights based on these observations. The highest volume in years on a bearish session indicated that significant selling pressure began on March 5, as a bearish close accompanied the high volume. The break of the decreasing volume trend on June 24 with a volume spike and a bearish close suggests a continuation of selling pressure, leading to new lows. He noted that Bitcoin is trading within a descending channel, indicating a clear bearish trend. This channelâs upper and lower bounds have acted as resistance and support, respectively. Price levels to watch Santanaâs analysis indicates that the volume trend shows a consistent decline until the breakout on June 24, followed by another spike on July 5. The expert highlighted crucial support levels around $44,000 and resistance levels near $72,000. Bitcoinâs price action suggests it might test the lower support levels if the bearish trend continues. The expert noted that the bearish wave for Bitcoin continues to unravel. The volume indicators and recent price action suggest that bears have the upper hand. Selling pressure is evident, and the scarcity of buyers further strengthens the bearish outlook. As a result, Bitcoin might be heading towards the $50,000 mark, potentially testing lower support levels around $44,000. Bitcoin price analysis After dropping to around $54,400 in the last 24 hours, Bitcoin has recovered, trading at $57,190 by press time. However, the daily and weekly timeframes reflect the bearish sentiment, having plunged by 0.25% and 9.5%, respectively.
Over the past seven days, Bitcoin has been on a downtrend influenced by key events. Initially priced at $62,660, Bitcoin saw a decline, hitting a low around July 6, likely due to a significant Bitcoin transaction by the German government. Despite a brief recovery, another dip followed the announcement of Mt. Gox repayments. The price has found strong support at $56,000, rebounding multiple times from this level. Resistance at $60,000 has proven challenging to overcome and should remain on investorsâ radar. Not financial advice! Follow @CryptoTalks
Dogecoin flashes buy signal; Can DOGE claim $0.15?
Although Dogecoin (DOGE) is experiencing volatility amidst bearish sentiments, technical indicators suggest that the meme coin is signaling a potential buying opportunity. Specifically, crypto analyst Ali Martinez highlighted in an X post on June 30th that Dogecoin shows signs of a potential rebound. The TD Sequential indicator has presented a buy signal on the three-day chart. This signal, highlighted by analyst Martinez, suggested that a reversal could be on the horizon, possibly setting the stage for DOGE to aim for higher price levels, including the critical $0.15 mark. âThe TD Sequential presents a buy signal on the #Dogecoin 3-day chart, predicting a rebound of one to four candlesticks for $DOGE!,â the analyst said. Dogecoin price levels to watch The three-day chart for Dogecoin reveals a period of extended downward movement, characterized by a series of red candlesticks from mid-June to the end of the month. This decline saw DOGE fall from approximately $0.17 to just below $0.13.
However, the appearance of a green arrow on the chart, signifying the TD Sequential buy signal, indicates a potential reversal. The TD Sequential is a popular technical analysis indicator used to identify possible turning points in the market. A buy signal typically suggests a potential upward movement of one to four candlesticks, each representing a three-day period in this context. Indeed, DOGE has been on a bearish trend since around June 7th, characterized by consistent red candlesticks indicating sustained selling pressure. Around June 24th, DOGE found temporary support near the $0.12 level. The first challenge for DOGE is breaking above the immediate resistance at $0.13. A successful breach of this level could confirm the validity of the buy signal. If DOGE maintains upward momentum, the next significant target is $0.15. This level poses a psychological barrier and marks previous support turned resistance. Should bullish sentiment persist, DOGE could aim for higher levels, potentially targeting $0.17, where the initial downtrend began in early June. Dogecoin AI prediction Meanwhile, the CoinCodex platform, utilizing AI-powered machine-learning algorithms, projected continued bearish sentiment for Dogecoin in the short term. Data retrieved on June 30th from the tool suggested DOGE might trade around $0.1047 by July 30th.
As of the latest update, Dogecoin is trading at $0.1224, showing a daily loss of 0.6%. On the weekly chart, the token is down by over 1%.
As Shiba Inu (SHIB) continues to correct its price, consolidating the gains it has attained since the yearâs turn, much like many other cryptocurrencies, machine learning and artificial intelligence (AI) algorithms are pessimistic regarding its price performance in the near future. Indeed, after trading around the $0.00003 area until mid-April, the price action of Shiba Inu has slowed down significantly in the past several weeks, first dropping below the critical level at $0.00002, and then reverting to below $0.000017, following the bearish sentiment of the crypto market. Shiba Inu price prediction Regarding its future performance, the complex AI algorithms deployed by the crypto analytics and forecasting platform PricePredictions have set the price of SHIB at $0.000014 on July 1, 2024, suggesting that the memecoin would continue to decline, according to the most recent data obtained on June 24.
Specifically, the target price set by the algorithms, which rely on indicators such as moving average divergence convergence (MACD), relative strength index (RSI), and average true range (ATR), would suggest a further drop of 16.52% from Shiba Inuâs current price. Shiba Inu price analysis For the time being, the popular meme doge token is currently trading at the price of $0.00001677, which represents a decline of 6.70% in the last 24 hours, a 15.32% drop across the previous seven days, as well as a 32.06% loss on its monthly chart, while recording a 62.44% advance since the yearâs turn. Meanwhile, one factor that could affect Shiba Inuâs price in the near future is the activity of its largest holders, i.e. whales.
Potential factors for SHIB price In fact, should this whale decide to sell their holdings of the currently 12th-largest asset in the crypto market, it could cause a tectonic shift in its price, primarily due to exercising strong selling pressure that could cause the SHIB price to decline further and instill âFUDâ (fear, uncertainty, doubt) among investors.
On the other hand, crypto expert Casey Stubbs projected in mid-June that SHIB would likely experience a significant inflow of capital, potentially elevating the tokenâs market capitalization to $1 trillion, taking into account the anticipated impact of Shiba Inuâs layer-2 scaling solution Shibarium, as Finbold reported on June 17. I am envisioning a day where there are thousands of shib and bone pairs trading on shibarium with billions of dollars worth of transactions daily and trillion dollar market cap. â Casey Stubbs All things considered, Shiba Inu could, indeed, continue on its downward path in the following weeks as the AI algorithm suggests, but it is important to keep in mind that trends could change and that relying on one source of data exclusively is not wise, so doing oneâs own research and keeping up with any SHIB news is critical when investing. Not financial advice! follow @CryptoTalks
đ€Ż MEV Bot on Solana Earns $30M in Two Months đ A well-known MEV bot on the Solana network has earned around $30 million in the past two months through arbitrage "sandwich attacks". According to on-chain analyst Ben, the bot's earnings are spread across two main wallets. The first wallet contains 114,352 SOL, worth approximately $16.5 million. This address appears to be inactive and likely functions as a storage or reserve wallet. The second wallet linked to the bot is active in Solana's DeFi segment. It periodically converts $SOL tokens into the stablecoin USDC through the DEX Jupiter. Ben's analysis also highlighted that the address holds significant positions in the lending protocol Kamino and various liquid staking platforms. The researcher observed that the MEV bot operators are attempting to conceal their activities and earnings due to unwanted attention in the network. Recently, they transferred all major operations to a different address. Additionally, the bot uses multiple signers and "tippers" to disguise its transactions. Andrew Wong, head of Dune Analytics, noted that at the end of April and the beginning of May, this bot accounted for about 15% of all volume on Solana's DEX. However, this figure dropped to 0.5% by mid-May. Previously, several Solana validators were excluded for participating in "sandwich attacks" against users. CoinDesk reported that most of the banned network participants were Russian citizens. Vitalik Buterin, co-founder of Ethereum, identified MEV as one of the three main threats to network decentralization, alongside liquid staking and the cost of running a full node. The EU regulator has described the technology as a clear example of market abuse. follow #CryptoTalks
đš ATTENTION đš đđ„BREAKING EVENING NEWS đđđš đ đ„Check belowđ„ đDespite Bitcoinâs sell-off to $65,000, ETH continues to show strength, and bulls appear to be strengthening at the $3,500 level.đč đ$ZK token launch on multiple exchanges sees price fluctuations while zkSync manages network strain and scam threats.đč đALEX Lab, a Bitcoin layer-two (L2) network bridge, has issued an update on the recent hack that resulted in the theft of millions of dollars in cryptocurrency, detailing the perpetratorâs ongoing efforts to launder the stolen funds.đč đThe Federal Reserve leaving interest rates unchanged likely prompted investors to scale back exposure to fixed-supply assets, CoinShares research head says.đč đDavid Hirsch, who led the SECâs Crypto Asset and Cyber Unit in the Division of Enforcement, has left the agency after serving for nine years.đč Dont forget to follow #CryptoTalks for more BREAKING NEWS đžđ„
History suggests Bitcoin could hit new high above $85k to cover mining costs
Bitcoin ($BTC ) miners have recently found themselves at the center of the crypto market due to the increasing selling pressure on their BTC holdings and the resulting impact on the assetâs price. Notably, the selling activity has been considered a significant factor that derailed Bitcoinâs trajectory toward claiming the $70,000 resistance. Looking ahead, data shared by crypto analyst Ali Martinez on June 15 suggests that miners still have a crucial role in dictating Bitcoinâs price and potentially spurring it to an all-time high. According to Martinez, Bitcoinâs average mining cost is currently $86,668. Historically, Bitcoin has consistently surged above this crucial level, providing a strong bullish indicator for the cryptocurrency.
âBitcoinâs average mining cost is currently at $86,668. And guess what? Historically, $BTC always surges above its average mining cost,â he said. Historical impact of mining cost on BTC price The expert shared a chart sourced from MacroMicro, providing a detailed visualization of Bitcoinâs average mining costs, its market price, and the ratio between these two metrics over time. Notably, Bitcoinâs average mining costs and price have generally moved in tandem, with Bitcoin valuation often exceeding mining costs, particularly during bullish phases. For instance, from mid-2016 to early 2018, Bitcoinâs price increased significantly above mining costs. Similar patterns are observable in the periods leading up to 2021 and mid-2023. At the same time, the average mining costs to Bitcoinâs price ratio smoothed over a 30-day moving average (MA). They showed a cyclical pattern, with dips corresponding to periods when Bitcoin prices far outstrip mining costs. Historically, these dips have often preceded further price surges, reinforcing that mining costs are a critical support level for Bitcoinâs market price. With Bitcoinâs average mining cost at $86,668, the current market scenario suggests that BTC must aim for this price level to cover mining expenses. The data aligns with the prevailing market consensus that Bitcoin is poised for further growth in the coming months, likely aligning with the post-halving bull run. Indeed, if Bitcoinâs price aligns with mining costs, the cryptocurrency will rally 30% from its current valuation.
đš ATTENTION đš đđ„BREAKING EVENING NEWS đđđš đ đ„Check belowđ„ đBitcoin Proponent Michael Saylor Forecasts Potential $8 Million $BTC Price Tag. Fervent Bitcoin proponent Michael Saylor has made another very bullish prediction for Bitcoinâs price tag. His comments, which were made at a recent Prague event, have captured the attention of the crypto community, particularly due to the hefty price tag.đč
đA Bloomberg exchange-traded fund (ETF) expert says that spot market Ethereum ( $ETH ) ETFs can be expected in the US by early July. In a new thread on the social media platform X, senior ETF analyst Eric Balchunas says ETH-based ETFs may be approved by July 2nd.đč
đA buy signal appears on $SOL price chart, hinting at a price increase, but indicators remain bearish.đč
đPolkadot stuck in $6 range. While DOT's potential may be great in the long term, the short-term outlook is nothing to be excited about.đč đWarm Statements from FED Member Kashkari: He Announced the Month in Which He Expects an Interest Rate Cut. FED member Neel Kashkari made evaluations about the US economy and possible interest rate cuts in his statement on CBS's Face the Nation program today. Kashkari said the Fed needs to see more evidence to be convinced that inflation is heading towards 2%.đč
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