In this market? everyone should know what he/she is buying and what he/she is selling. You do not have to follow the crowd. knowing (knowledge) is different from idea. Don't blow yourself up. I'm feeling so kind and empathetic this morning to sharing this with you all.
HYPOCRISY IS EVERYWHERE WITH CRYPTO AND THE BANĶS
In case you hadnât heard (or choose to ignore such things), bitcoin is back. The original â and still biggest â cryptocurrency surged to a record high of more than $72,000 on Monday, having more than tripled in value in the space of a year. Other crypto tokens, such as ethereum and dogecoin â beloved by Elon Musk â have also been rallying, with the estimated value of the market climbing to above $2.7tn for the first time in more than two years. The funny thing is, though, that thereâs a chance you have actually not heard. Thereâs not so much talk about which token is next going âto da moonâ or so many instances of âWen Lambo?â this time around. Newspapers arenât running stories about how hilariously rich everyone is getting apart from you. Worldwide search traffic for âbitcoinâ and âcryptoâ has climbed in recent days but it is still only about half the level it was the last time a record was hit in 2021, according to Google Trends. No, crypto in 2024 (so far, at least) is a rather more subdued affair. And the reason is that the factors reckoned to be driving rising prices are far from the kind of wild crazes weâve seen before, such as the mania for initial coin offerings in 2017 or for non-fungible tokens in 2021. Instead, there are some rather more prosaic things going on. These are: supply and demand dynamics in the lead-up to the âhalvingâ expected in April, when the number of new bitcoins mined every 10 minutes halves to 3.125; the prospect of lower interest rates; and institutional capital flows into the 11 bitcoin-based exchange traded funds approved by the US Securities and Exchange Commission this year. The last factor is probably having the most impact. More than $50bn has been cumulatively traded in bitcoin ETFs, according to data from crypto platform The Block, with the one launched by BlackRock, the worldâs biggest asset manager, already the firmâs third-biggest exchange-traded product and the fastest ETF ever to reach $10bn. Some of the worldâs biggest banks â Morgan Stanley, Wells Fargo and Bank of America â are all reportedly lining up to get involved in bitcoin, too. (The painful lessons of the financial crisis, about avoiding high-risk, toxic assets, have been forgotten, it seems.) The buyers using these new ETFs are conventional investors who see it as a way of diversifying, rather than true believers. So you might think bitcoiners would be unimpressed by their anarchic cryptocurrency â whose raison dâĂȘtre is, it seems, to circumvent such middlemen and provide a decentralised, censorship-resistant form of money â being overtaken by the world of traditional finance. Bitcoin has always been about sticking it to the man, surely, not making rich banker-men richer. But you would be wrong. âThe OTC desks are running out of $BTC . This is why we are pumping so hard. Institutional FOMO is starting now, $100k will come very soon,â posted one much-followed crypto account on X. âIâve become pro-ETF, because . . . anyone whoâs got some kind of exposure is now incentivised to be Team Bitcoin,â said Peter McCormack recently on his What Bitcoin Did podcast. âLetâs just say itâs good to have [BlackRock CEO] Larry Fink on your side. This is the great thing about bitcoin â all our incentives align.â Heâs right, of course: when something is backed only by belief, you want as many believers as you can get. But this does rather give the game away about what motivates people to be on âTeam Bitcoinâ. The institutional investors entering the market do not believe bitcoin is the future of money, nor that it will revolutionise and overthrow the financial system; these companies are the financial system. They buy bitcoin because they calculate they can eke out extra returns by doing so. Furthermore, Fink is not really Team Bitcoin at all â he has said he also âsee[s] valueâ in an ethereum ETF. The reality is that the embrace of crypto by the world of traditional finance, or âTradFiâ, as crypto types like to call it, is just as hypocritical as cryptoâs embrace of institutional investors. I heard one of the hosts of another bitcoin-focused podcast, the Wolf of All Streets, say recently that âTradFi is just as degenâ â a crypto word describing a reckless (and degenerate) gambler â âas the crypto community isâ and this, unfortunately, is not wholly unjustified. With the advent of bitcoin ETFs, what was once a relatively clear boundary between crypto and conventional finance has been broken down for good. And the world of TradFi has shown the emptiness of its talk of learning the lessons of the financial crisis. It has shown that â like the world of crypto â it is really just as greedy as ever. #Bitcoin
Bitcoin Tops Crypto Priority for Blackrock Clients as IBIT Holdings Reach 243K BTC.
Blackrockâs head of digital assets has revealed that bitcoin is the overwhelming favorite cryptocurrency for the asset management firmâs clients. âAnd then a little bit Ethereum, and very little everything else,â he added. Blackrockâs spot bitcoin exchange-traded funds (ETF), the Ishares Bitcoin Trust (IBIT), has amassed approximately 243K bitcoins since its launch.
During a fireside chat, Mitchnick revealed that bitcoin is the cryptocurrency of most interest to Blackrockâs clients, stating: For our clients, bitcoin is overwhelmingly the number one priority. And then a little bit Ethereum, and very little everything else.
IBIT continues to grow its BTC holdings since its launch in early January. The fundâs latest data shows holdings of approximately 242,830 BTC, representing a notional value of about $15.8 billion. According to Bitmex Research, IBIT added 297.5 BTC to its holdings on Friday, bringing the spot bitcoin ETFâs total holdings as of March 22 to more than 243K BTC.
During an interview with Yahoo Finance at the event, Mitchnick described Blackrockâs approach to bitcoin and crypto more broadly: âThis has been a multi-year journey for us, starting back really 2016 kind of time frame ⊠youâve seen our strategy kind of evolve with that to take us to the point where we are today.â
Noting that Blackrockâs clients are âat all stages of the journey,â he explained that some clients âalready hold bitcoin, sometimes positions in multiple crypto assets.â He added: âTheyâre looking for our perspectives on market dynamics and what weâre seeing in terms of portfolio construction and other considerations.â On the other hand, some clients are new to crypto, he further shared, adding that they âwant to understand kind of the fundamentals and the technology and how it works. And so we have those conversations across the spectrum.â
#Analysts 'Now More Convinced' of Bitcoin Reaching $150,000 by Mid-2025
Global asset management firm Alliance Bernstein has doubled down on its bitcoin price prediction of $150K by mid-2025. âThese are still early days of bitcoinâs integration into traditional asset portfolios,â the firmâs analysts described, adding that they are ânow more convincedâ about their $150K price forecast for bitcoin.
Bernsteinâs $150K Bitcoin Prediction
Bernstein analysts Gautam Chhugani and Mahika Sapra shared their optimistic bitcoin outlook in a note published earlier this week. The analysts explained that they are ânow more convincedâ about a BTC price breakout post-April halving event. While noting that âThese are still early days of bitcoinâs integration into traditional asset portfolios,â they wrote:
We are now more convinced about our $150K price for bitcoin.
Bitcoin Technical Analysis: BTC Crosses $73K; Bulls Eye $75K as Next Major Goal
On March 13, 2024, bitcoin achieved a new peak in its market value, reaching an unprecedented high of $73,679. In the past 24 hours, bitcoin not only increased by 1.8% but also showed notable gains over the week (10.7%) and the last two weeks (23.3%), elevating its market cap to an impressive $1.43 trillion. Bitcoin (BTC) 1-hour chart analysis uncovers a volatility pattern, swiftly rebounding from a significant price decline on Tuesday. This movement indicates a robust support level of around $68,636. The trend remains upward, as evidenced by the formation of higher lows and higher highs, hinting at the ongoing uptrendâs persistence despite slight consolidations. On the 4-hour chart, bitcoinâs upward trend is more distinctly visible, with crucial support established at $66,264, a level where notable buying activity is detected. The 4-hour chart exhibits a sequence of rapid ascents, showcasing BTCâs consistent bullish momentum. The daily chart provides a more comprehensive view, affirming bitcoinâs strong upward trajectory. Since hitting the last major support near $45,252, bitcoin has been consistently achieving higher highs and higher lows. The existing resistance at $73,679 might be a temporary barrier, with potential entry points emerging upon retesting breakout levels or moving averages. On March 13, 2024, bitcoin achieved a new peak in its market value, reaching an unprecedented high of $73,679. In the past 24 hours, bitcoin not only increased by 1.8% but also showed notable gains over the week (10.7%) and the last two weeks (23.3%), elevating its market cap to an impressive $1.43 trillion. Strategic exit plans could focus on observing signs of trend reversals or aiming for psychological resistance levels, like the $75,000 milestone. Overall, oscillators such as the relative strength index (RSI), Stochastic, commodity channel index (CCI), and the moving average convergence divergence (MACD) mainly signal positive momentum, with a few neutral stances indicating a balanced market sentiment. The consensus across moving averages (MAs) is decisively bullish, ranging from short-term (10-day) to long-term (200-day) analyses, all supporting a bullish outlook. Integrating the analyses from the 1-hour, 4-hour, and daily charts with oscillators and MAs presents a clear depiction of bitcoinâs market stance. It illustrates a landscape filled with bullish sentiment, backed by strong trading volume and market capitalization, eloquently narrating bitcoinâs potential path forward. Bull Verdict The analysis of bitcoinâs current market dynamics, oscillators, and moving averages collectively points to a bullish outlook for the foreseeable future. The marketâs sentiment is overwhelmingly positive with bitcoin setting new all-time highs and demonstrating robust gains over various time frames. The technical indicators, especially the unanimous bullish signals from both short-term and long-term moving averages, alongside positive signals from key oscillators, reinforce the strength of the ongoing trend. Bear Verdict: Despite the current bullish sentiment surrounding bitcoin, a cautious approach is warranted for a potential bearish reversal in the medium to long term. The extremely bullish sentiment, as evidenced by the high RSI and the stretched positions in other oscillators, could signal overbought conditions, raising the possibility of a corrective pullback. Furthermore, the significant price gains in a short period might prompt profit-taking actions, potentially leading to increased selling pressure. What do you think about bitcoinâs market action on Wednesday? Share your thoughts and opinions about this subject in the comments section below.
Hope Rises Among XRP Proponents for a Significant Upswing Amidst Crypto Market Expansion
In the last week, XRP experienced a 19.9% increase in its value against the U.S. dollar, reaching a peak of $0.744 per coin on March 11, 2024. Its price has since retreated a hair, now trading at $0.685 per XRP. Although the digital currencyâs market results havenât captured as much attention as bitcoin and ethereum, proponents of XRP, the sixth biggest cryptocurrency by market capitalization, anticipate itâs poised for an upswing. Amidst a Flourishing Crypto Economy, XRP Enthusiasts Bet on a Bright Future The crypto market has experienced significant growth recently, with the combined value of the myriad cryptocurrencies currently standing at approximately $2.7 trillion. Bitcoin (BTC) and a number of other digital currencies have either hit record price levels or are nearing their previous highs. In contrast, XRPâs performance has been relatively modest. For example, while BTC has climbed 172% in the last six months and ETH has increased by 146%, XRP has only registered a 42% increase against the U.S. dollar during the same period. Seven-day statistics show XRP has increased by 19.9% and 17.9% over the past two weeks. Despite the subdued market results, XRP enthusiasts and members of the so-called âXRP Armyâ believe the digital currency is on the brink of a substantial uplift. One advocate recently mentioned that XRPâs price trends appear âeerily similar to 2017 before it,â while another commented that XRP will âleave all crypto in the dust.â âYou canât stop the inevitable XRP,â the X account dubbed Black Swan Capitalist wrote. XRP has consistently ranked among the top ten crypto assets for several years, yet the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has loomed large over the cryptocurrency. Additionally, the personal XRP accounts of Ripple Labs co-founder Chris Larsen were compromised, resulting in the freezing of assets due to unauthorized access. This breach event garnered considerable focus within the cryptocurrency sphere and might have contributed to a hindrance for XRP amidst the recent crypto economyâs ascent. Online forecasts are quite optimistic, with a Primexbt report stating that XRP is undervalued and some âpunditsâ believing it âcould be worth as high as a maximum price of $4.â Predictions featured on the Changelly blog suggest XRP could achieve a value of $0.846 per unit by Mar. 30, 2024. This year, Changelly anticipates XRP will close with a minimum price of $0.983, an average value of $1.01, and a peak price of $1.16 per coin. Additionally, the projected minimum price for 2025 is $1.39 per XRP, with the highest expected price being $1.69. The blogâs forecasts, extending up to 2027, still do not surpass XRPâs historic peak.
Online forecasts are quite optimistic, with a Primexbt report stating that XRP is undervalued and some âpunditsâ believing it âcould be worth as high as a maximum price of $4.â Predictions featured on the Changelly blog suggest XRP could achieve a value of $0.846 per unit by Mar. 30, 2024. This year, Changelly anticipates XRP will close with a minimum price of $0.983, an average value of $1.01, and a peak price of $1.16 per coin. Additionally, the projected minimum price for 2025 is $1.39 per XRP, with the highest expected price being $1.69. The blogâs forecasts, extending up to 2027, still do not surpass XRPâs historic peak. XRP proponents fondly recall the 2017 bull run as it approached the time when the digital currency neared its all-time price peak. It wasnât until Jan. 7, 2018, that XRP reached $3.40 per coin, nearly six years ago. Unlike BTC and ETH, which reached new zenith prices during the 2021 bull run, XRP did not surpass its previous high. Today, it still needs to rise by 75% to even approach its 2018 highs, and in this bull run, it faces a host of new crypto competitors in the top ten rankings. What do you think about XRPâs performance during the crypto economyâs upswing and the optimistic sentiment from supporters? Share your thoughts and opinions about this subject in the comments section below.
It is difficult to predict the exact date when the bull market will end. However, based on historical data and expert opinions, the real bull run in the crypto market is expected to start around April 2024, aligning with the anticipated Bitcoin halving.
In past cycles, the bull market has lasted for about 2 years after the halving, which would put the end of the bull run around April 2026. However, this is just an estimate and the actual duration of the bull market may vary depending on various factors such as market sentiment, regulatory changes, and global economic conditions.
Are We Currently in a Bull Market?
Based on the current market conditions and recent trends, it appears we are in the early stages of a potential crypto bull market. Several factors, such as the anticipation of regulatory shifts, the upcoming Bitcoin halving in 2024, and the growing institutional interest in crypto, suggest that the market is in a favorable position for growth.
However, it's important to note that market conditions can change rapidly and unpredictably, so it's crucial to stay informed and adapt your investment strategies accordingly.
1. Sell SPOT to trade futures 2. Take Loans by keeping your spot holdings 3. Don't tell your friends to invest (they will invest at the top and curse you) 4. Don't put your family / friends money. 5. Don't take personal loans to invest/trade 6. Don't keep your spot holding on CEX (one or the other will get hacked/run away like FTX this cycle too) 7. Be Humble, profit loss are part of trading. 8. Take some money off crypto and keep it in local currency (to invest with stocks crash) 9. Pay Taxes bois 10. Don't fomo seeing others profit #TrendingTopic #BTC #Write2Earn⏠#cryptomummy #HotTrends
Binance Will List Dogwifhat (WIF) with Seed Tag Applied
Fellow Binancians, Binance will list Dogwifhat (WIF) and open trading for these spot trading pairs at 2024-03-05 14:00 (UTC). New Spot Trading Pairs: WIF/BTC, WIF/USDT, WIF/FDUSD and WIF/TRY.Users can now start depositing WIF in preparation for trading.Withdrawal will open at 2024-03-06 14:00 (UTC).WIF Listing Fee: 0 BNB. Notes: The Seed Tag will be applied to WIF.TRY is a fiat currency and does not represent any other digital currencies.The withdrawal open time is an estimated time for usersâ reference. Users can view the actual status of withdrawals on the withdrawal page.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. What Is Dogwifhat (WIF) Dogwifhat (WIF) is a-dog-with-a-hat meme coin on Solana network. Reminder: WIF is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, have done your own research in regards to WIFâs fundamentals, and fully understand the project before opting to trade the token.The Seed Tag represents innovative project that may exhibit higher volatility and risks compared to other listed tokens. The Seed Tag will be applied to WIF.To gain trading access to the tokens marked with Seed Tag, users will need to pass the corresponding quizzes every 90 days on the Binance Spot and/or Binance Margin platforms, and accept the Terms of Use. The quizzes are set up to ensure users are aware of the risks before trading the tokens with the Seed Tags. Users may find the Seed Tags on the corresponding Binance Spot and Binance Margin trading pages, as well as on the Markets Overview page. A risk warning banner will also be displayed for all tokens with the Seed Tags. Details: Dogwifhat WebsiteDogwifhat X AccountFeesRules Thank you for your support! Binance Team 2024-03-05