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#TrustWallet announced a partnership with #Ledger #Binance #crypto2023 #BTC #dyor
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๐ The drop off this year's secondary high is large enough and fast enough to suggest the downtrend began. ๐ On monthly charts, this is starting to have behavioral characteristics of an expanding triangle. ๐ต The blue dashes represent my "best guess" of action into summer. ๐ Using the monthly price evidence, an expanding triangle appears underway (just a little larger than previously expected), so I moved wave-a to this month's low with wave-b now forming. ๐ If correct, we'll see Bitcoin slowly break May's low with wave-c dropping a little more in price than wave-a (it should also take more time). ๐ก Expanding patterns tell us most traders are bullish on Bitcoin and not expecting a decline. #BTC
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Navigating the Bitcoin Investment Landscape: ETFs vs. Direct Purchases
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๐๐ Is Bitcoin's Rally Over? ๐๐ ๐น The drop off Wave-I's high is slightly larger than Wave-F, the biggest drop of the entire G-wave rally. ๐น This enhances the odds that Bitcoin has peaked for an extended period. ๐น If Wave-G is over, Bitcoin could be in for a bad couple of years! ๐ป The decline off this year's high is larger and faster than Wave-F. ๐ป The odds are Bitcoin has topped for the rest of 2024. ๐ป Consequently, a much larger decline later this year is now in play. ๐ฎ Based on wave structure's outlook, expect a serious governmental crackdown in the next 1-2 years. ๐ฎ Governments may realize that financial decentralization via crypto will seriously threaten their ability to tax and spend. What are your thoughts on the future of Bitcoin? ๐ค #Bitcoin #Crypto #BTC #CryptoWatchMay2024
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๐ Potential Downward Trend in Bitcoin ๐ The recent drop-off from this year's secondary high in Bitcoin has been significant and swift, indicating the possible onset of a downward trend. While last week saw a brief bounce, it was relatively small compared to the preceding decline, and prices are now trending lower once again. Upon closer examination, measuring the three-legged decline from this year's high and subtracting it from the price/time move off this year's secondary high reveals substantial coverage, suggesting the emergence of a new, expanding biased decline. To validate this hypothesis, Bitcoin must breach April's low within the next 1-2 weeks and experience a more pronounced decline compared to the original three-legged drop-off from this year's high (as depicted by the blue dashed projected line). Stay tuned for further updates as we monitor Bitcoin's movements closely for potential confirmation of this expanding pattern. #BitcoinAnalysis #BTC #BullorBear #bitcoin ๐
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Happy Halving Day! ๐ Bitcoin programmatically halves the block reward approximately every 4 years. The block reward is the amount of bitcoin that the miners receive for successfully adding a block, or group, of transactions to the ledger. It was initially 50 Bitcoin per block. Prior halvings dropped the reward as follows: Nov 2012 25 Bitcoin July 2016 12.5 Bitcoin May 2020 6.25 Bitcoin We say every 4 years but that is clearly not the case. Itโs actually every 210,000 blocks. Blocks are targeted to be every 10min but with fluctuating difficulty in mining and the amount of hash power doing the mining, it varies. This block reward is a security measure, incentivizing those with a form of computing power called hash power to maintain and protect the network instead of attack it. As Bitcoinโs network matures and the price of Bitcoin rises, less incentive is needed. With a total of just under 21million Bitcoin ever being produced, the halving reducing the block reward by half, and many early Bitcoin lost, Bitcoinโs value tends to rise over time even looking at year over year lows. Historically, halving has kicked off a bull run leading to the peaks in the market cycle. Given their earnings being cut in half, halving is a time that could be viewed negatively by miners has actually been a positive for price action and therefore the value of the Bitcoin theyโre earning. ๐ฉ๐ผโ๐ซ #bitcoinhalving
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