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Declining Bitcoin Social Sentiment Could Signal a Market Bottom
Bitcoin prices have failed to hit a new all-time high in more than three months, even after the Bitcoin halving in April. The recent market instability has dampened the previous high expectations and positive atmosphere for Bitcoin prices, which may be a sign that the market is about to bottom. Since the Bitcoin halving in April, the price of BTC has fluctuated in a relatively stable range. However, in the past three months, as Bitcoin failed to hit a new all-time high again, traders' confidence in the market outlook began to waver and optimism gradually dissipated. Positive atmosphere, which may be a sign that the market is about to bottom. Since the Bitcoin halving in April, the price of BTC has fluctuated in a relatively stable range. However, in the past three months, as Bitcoin failed to hit a new all-time high again, traders' confidence in the market outlook began to waver and optimism gradually dissipated.
On the other hand, the decline in traders’ excitement about Bitcoin could be a potential bottom signal. Such a signal usually means that the market trend may be about to change. Investors often see bottoms as a good opportunity to buy when an asset is undervalued or trading at its lowest point. From a technical analysis perspective, the lowest support level of an asset is called a “bottom.”
Bitcoin reached an all-time high on March 14, with the price on Coinbase reaching as high as $73,780. Subsequently, its price fluctuated between $60,000 and $70,000, and briefly fell below $60,000. Currently, BTC is trading at $61,500. Historical data shows that Bitcoin reaches new highs within four years after each halving, but this growth does not occur immediately, but after a period of sideways or consolidation. Analysts Willy Woo and Rekt Capital both pointed out that Bitcoin is currently in a post-halving re-accumulation phase, with prices fluctuating between $60,600 and $71,500, indicating that the market may be about to undergo a new movement.
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Biden concept currency plummets in first battle
The first debate of the US election started, and Biden’s concept coin BODEN fell sharply. In the highly anticipated first candidate debate of the 2024 US presidential election, Biden and Trump had a fierce confrontation. This debate has not only attracted global attention, but also affected certain areas of financial markets. Specifically, Biden’s concept MEME coin BODEN experienced a significant decline during the debate, with a drop of as much as 26% in one hour, and its current price is temporarily quoted at $0.1139.
What Will Trump Say in the Debate? It also mentioned that Trump has a 68% chance of mentioning "Fake News," a 70% chance of mentioning "MAGA," a 26% chance of mentioning "Sleepy Joe Biden," and a 16% chance of mentioning "dementia."
The prediction reflects the growing influence of cryptocurrencies in U.S. politics and Trump's potential shift in attitude toward cryptocurrencies. Trump was skeptical of the cryptocurrency industry during his presidency, but has increasingly emphasized Bitcoin and other digital assets in his campaign in recent days in an attempt to attract new voters. In addition, Trump's campaign team also announced that it would accept cryptocurrency donations, further demonstrating his support for the cryptocurrency industry.
Today's recommendations are BOND, ALPHA, ACE, and BNX.
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BOND
BOND coin is a cryptocurrency based on blockchain technology and is the governance token of the BarnBridge DeFi project.
BOND coin aims to provide an open, decentralized platform that enables investors to more smoothly manage and increase the value of their digital assets. Unlike other cryptocurrencies, the value of BOND coin does not only depend on market demand and supply. The total circulation of BOND coin is about 9.682 million, and the maximum issuance is 10 million. In addition, BOND coin ranks 887th in the global market value ranking, and the current price is 2.264 US dollars.
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ALPHA
ALPHA coin is the core token in the Alpha Finance Lab ecosystem. It is based on a distributed smart contract platform and is an important player in the field of decentralized finance (DeFi). ALPHA coin holders are given the right and responsibility to govern the platform. This means that they can participate in the decision-making process of the platform through proposals and voting, including the development of new features, the allocation of funds, and other important matters. Although past performance is not indicative of the future, ALPHA coin has experienced some price fluctuations in the past, which to some extent shows the market's recognition of its potential for growth. The current price is $0.0819.
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ACE
ACE coin is a decentralized cryptocurrency based on blockchain technology. It uses the core advantages of blockchain technology to provide users with safe and efficient electronic cash transaction solutions. The use of advanced blockchain technology and consensus mechanism greatly shortens the transaction confirmation time and realizes fast payment and transfer. The development and governance of ACE coin depends on the participation of the entire ACE community. The current price is 3.384 US dollars.
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BNX
This is a token based on the Ethereum blockchain, designed to provide payment and ecosystem incentive functions for the BitNautic platform.
As a digital currency, BNX has practical application scenarios, such as participating in transactions and ecosystems in the freight, logistics and ocean transportation industries. BNX also has a high transaction speed and capacity, can support up to 1,000 transactions per second, and uses smart contract technology. The current price is $1.142.
Club Recommendation Review
1.【acre】
As a small-cap token with only spot but no contracts on Binance, the club is very optimistic about this type of target.
At the same time, AKRO has recently proposed a new roadmap and updated the new economic model, further intensifying the club's layout.
When AKRO was at 0.00477, the club recommended opening a position, and then it began to rise straight up to 0.0085, which was a 90% increase from the club's recommended position, nearly doubling. It is currently stable at 0.007, also a 50% increase.
ARKO has successfully topped the Binance growth list. Anything produced by Wujie must be a high-quality product.
2.【arkm】
Regarding arkm’s short-term long strategy, the club recommends making arrangements when the price is around 1.7. The highest price rose to 1.9, an increase of 10%. A 20-fold long order has already made a profit of 95%.
#ETH_ETFs_Approval_Predictions #VanEck_SOL_ETFS #AKRO/USDT #ALPHA🔥
