Today’s market session has kicked off characterized by bearish signals as the global market cap dropped by 3.6% within 24 hours to bring the total cap to $1.09T as of press time. Bitcoin (BTC), is having a bad session losing 3.9% in valuation within 24 hours as the crypto king dipped further below to go the $25K level. 

Trading at $25.7K, BTC had seen a weekly drop of 7% with a market cap of $499,876,315,170 and a trading volume of $20,379,370,693. Bitcoin’s volatility levels are also low as the Bollinger bands now move closer to each other.

The MACD has however shifted on the negative side, as bears now take full grasp of the markets ahead of the Binance handle with the SEC that might have sparked FUD and investor panic. The RSI is also moving low below its average line as the asset now enters the oversold region. Bitcoin is now the top most trending coin on CoinMarketCap ahead of the ongoing saga that has seen it lose valuation.  #FUD

BTC 1-day chart | Source: TradingView Altcoin analysis

Ethereum (ETH) bears are also on the radar in today’s session as the asset now sits on a 2.8% loss within 24 hours of trading as the asset now approaches a shift below $1.8K. ETH, trading at $1816, has a market cap of $218,449,749,690 as the weekly drop sat at 4.3%.

BNB, the second most trending coin today, has seen the most dramatic drop in line with the recent development on Binance, losing 7.7% within a day of trading. The asset’s weekly drop now stands at 10.9%. BNB has a current market cap of $43,304,086,759.

BNB 1-day chart | Source: CMC

Other altcoins have also tumbled in today’s session with Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Solana (SOL), and Polygon (MATIC) recording massive losses of 4%,6.1%, 7%, 7%, and 5% respectively ahead of today’s bear signal. Tron (TRX) and Litecoin (LTC) have also dropped massively in valuation with both dropping 2.9% and 5.8% within the same period. 

KAVA has however defied the dip today gaining 11% within a day as others tumble.  Kava, now trading at $1.09 as of press time, with a market cap of $604,462,904. 

Kava 1-day chart | Source: CMC

Terra Classic  (LUNC) has also had a terrible drop, losing 14% in valuation as of press time to take LUNC’s price to $0.00009156.

#crypto2023 #Binance #BinanceTournament

FUD is the acronym for "Fear, Uncertainty, and Doubt," and it refers to a tactic in which false or exaggerated information or rumors are spread with the aim of creating panic or uncertainty among investors or the general public.There are several important reasons why it is not advisable to engage in FUD:✨️ Harmful to the Community: FUD can harm the entire community. This tactic can hinder the development and growth of cryptocurrency projects or other businesses because it can lead investors to withdraw or lose trust.✨️ Illegality: The deliberate spread of false or manipulative information can be illegal and can lead to legal consequences for those who practice it.✨️ Financial Losses: FUD can create panic in the market and lead to significant drops in the prices of cryptocurrencies or other financial assets. This can result in significant financial losses for investors.✨️ Loss of Trust: Once someone is associated with spreading #FUD , they can lose credibility within the respective community or industry. Trust is essential in any financial or business environment.✨️ Reduced Adoption: FUD can discourage people from getting involved in promising technologies or projects, which can slow down adoption and innovation in those areas.✨️ Distraction from Real Information: FUD can distort the truth and make it difficult to make informed decisions. Investors should focus on accurate and fundamental information when making financial decisions.The use of the FUD tactic is not only harmful to the cryptocurrency community and the financial market in general, but it can also have negative consequences for those who practice it. Instead, it is important to promote accurate information, transparency, and education to help investors make wise decisions and contribute to the sustainable development of financial markets.#cryptocurrency

Cryptocurrency market psychology refers to the study of investors' behaviors and emotional reactions influenced by the price fluctuations of cryptocurrencies. The crypto market is known for its high volatility, which leads to various emotional responses and psychological factors among investors.

Key points about market psychology in the crypto space:

1. Fear and Greed: With price fluctuations, investors often experience emotions of fear and greed. Fearing potential price drops or missing out on opportunities, investors may make emotional decisions that further contribute to market volatility.

2. Herd Mentality: In the crypto market, many investors tend to follow the crowd. When prices rise, the fear of missing out (#FOMO ) can drive more people to enter the market hastily. Conversely, when prices drop, others' selling and withdrawal from the market may trigger a desire to minimize losses. This herd mentality can accelerate market trends or lead to reversals.

3. FOMO and FUD: "Fear of Missing Out" (FOMO) and "Fear, Uncertainty, and Doubt" (#FUD ) are commonly observed emotional responses in the crypto market. FOMO describes the fear of missing out on potential gains, leading to impulsive decision-making. FUD, on the other hand, represents the influence of negative news or uncertainties, causing fear and doubt among investors.

4. Patience and Panic: Patience is crucial for success in the cryptocurrency market. Due to price fluctuations and market conditions, sudden changes can occur. It is important for investors to remain patient, focus on long-term goals, and avoid panic selling.

Understanding market psychology in the crypto space is complex, and it is essential for investors to comprehend their own emotional reactions and objectively analyze the markets. Developing strategies based on information rather than emotions can lead to better outcomes. It is important to remember that cryptocurrency markets are prone to fluctuations, and exercising patience and a long-term perspective are key to achieving success in this volatile market.

STAY #safu #crypto2023 #googleai

FUD, or Fear, Uncertainty, and Doubt, is a term used to describe the spread of negative or misleading information about a cryptocurrency or the cryptocurrency market in general. The goal of FUD is to create fear and uncertainty among investors, which can lead to them selling their cryptocurrency holdings and driving down the price.

FUD can be spread by a variety of actors, including:

Competitors: Competitors in the cryptocurrency space may spread FUD about a rival project in an attempt to damage its reputation and gain an advantage.

Governments: Governments that are hostile to cryptocurrency may spread FUD in an attempt to discourage people from investing in it.

Short-sellers: Short-sellers are investors who bet that the price of a security will go down. They may spread FUD in an attempt to drive down the price of a security so that they can make a profit.

There are a number of ways to identify FUD. Some common signs of FUD include:

The information is negative and unsubstantiated. FUD often relies on rumors, speculation, and outright lies.

The information is timed to coincide with a major price movement. FUD is often spread just before or during a major price drop.

The information is spread by a single source or a small group of sources. FUD is often spread by a small number of people who are motivated by a financial or ideological interest.

If you see information that you believe is FUD, it is important to do your own research and verify the facts before you make any decisions about your investments. You should also be aware that FUD is often used as a tactic by those who want to manipulate the market and profit from the volatility.

How to Protect Yourself from FUD

The best way to protect yourself from FUD is to be informed and to make your own decisions about your investments. Here are a few tips:

Do your own research. Don't rely on information from a single source. Read as much as you can about the cryptocurrency you are interested in and make your own decision about whether or not to invest.

Be patient. The cryptocurrency market is volatile and there will be ups and downs. Don't panic sell if the price of a cryptocurrency drops. Instead, stay calm and focus on the long-term.

Don't invest more than you can afford to lose. Cryptocurrency is a new and volatile asset class. It is important to only invest money that you can afford to lose.

By following these tips, you can protect yourself from FUD and make informed decisions about your cryptocurrency investments.

#BinanceTournament #FUD #Binance #BNB