The root cause of this round of market is the 50 basis point interest rate cut. What will be the next interest rate cut? The market believes that the probability of a further 50 basis point interest rate cut has reached 46%. This is a very scary data. If the interest rate is really cut by 50 basis points, the boost to the market will be huge. At least we can touch the new high of Bitcoin.
With the opening of the interest rate cut cycle, the fundamentals of the market have turned from negative to positive. No matter how the market fluctuates in the future, the overall trend must be upward. Therefore, I remind you again that you must hold on to the cheap chips in your hands.
I was going to cash out yesterday, but when I saw the exchange rate had dropped to 6.7, I was shocked. Don't underestimate the exchange rate. What does the depreciation of the US dollar mean? The Fed doesn't want you to hold US dollars in your hands, but to invest your money. Stocks, gold, Bitcoin, etc. are all current investment options. If you don't buy, the US dollar will continue to depreciate, which means you have the money and do nothing, and you will lose money.
So it is not just us small investors, especially some institutions and consortiums who are most sensitive to this information. So starting from October, a large amount of funds will flow into the cryptocurrency circle. It doesn’t matter if you buy, buy, buy, buy, and buy with leverage. We have worked hard for 3 years to push the market into a bull market. Whether we can make money depends on the cycle from October to October next year. In this cycle, the stage of skyrocketing will last for one or two months. I hope everyone can be on the train instead of drooling under the train.
1. ARKM
Arkham (ARKM) performed well, hitting a high of $1.51, the highest level since July 19. The token has gained popularity due to the rich data in the ecosystem. Its price rebounded after forming a double bottom pattern on the daily chart, which is a strong bullish indicator in technical analysis. A break above the neckline of $1.40 suggests that further gains may be ahead.
Arkham is a blockchain analytics platform that uses artificial intelligence (AI) to identify individuals behind blockchains and on-chain data. It offers two main features: the Analytics Platform and the Intel Exchange. The Analytics Platform provides insights into entities such as exchanges, funds, whales, and tokens. Meanwhile, the Intel Exchange allows users to buy and sell address tags and other intelligence through bounties, auctions, or DATA programs.
The price of ARKM has increased by 8.61% in the past 24 hours. The 14-day relative strength index (RSI) is 59.20, indicating a neutral position that could lead to sideways trading. However, ARKM price sentiment remains positive, with the Fear & Greed Index at 54 (Neutral), indicating increased trading volume and optimism for the uptrend.
Unlike many platforms that focus on specific chains or have limited data, Arkham stands out by providing broad blockchain coverage. It uses its AI system ULTRA to collect data from various blockchains to give users a comprehensive understanding of the crypto ecosystem.
With strong fundamentals and a supportive crypto community, ARKM has tremendous growth potential. If the bullish trend in the crypto market continues, ARKM could be one of the next coins to rise.
2.JASMY
As we head into the fourth quarter, bullish sentiment is growing rapidly, driven by patterns such as the inverted head and shoulders, golden cross, and cup and handle formation completions. Among the cryptocurrencies that have received much attention, Jasmy (JASMY) is often referred to as the "Japanese Bitcoin." Analysts expect JASMY to achieve significant gains in the ongoing bull run. Earlier this year, in January 2024, JASMY outperformed Bitcoin by 474%. If Bitcoin surges to its next target, JASMY's price could rise by 1,140% to reach a target price of $2.785.
Recently, JASMY broke out of a descending wedge pattern on the 1-day chart, a move that many analysts predicted. The breakout occurred around $0.01979, leading to upward momentum. However, traders remain cautious and wait for a daily close above $0.02150 as the last breakout attempt on September 14 was a false start.
Today, JASMY confirmed a breakout and is trading at $0.02303. With this new support level, the coin is poised for a potential bullish rally. On the daily chart, the next key resistance levels are $0.02353 and $0.03186, which could represent a 44% increase from the current price. If JASMY continues this upward trend, it could signal the start of a larger market move.
Jasmy aims to connect service providers and data users while protecting data sovereignty. By combining IoT with blockchain technology, Jasmy allows users to control their data. Its mission is to create a secure and user-friendly data environment that facilitates data transfer between IoT devices without worrying about trust issues. The platform relies on edge computing and decentralized storage through IPFS, which makes JasmyCoin a project worth watching, especially in the promising season for altcoins.
3.RON
Ronin is a blockchain network designed by Sky Mavis, the creator of Axie Infinity, to improve the blockchain gaming experience. Designed to solve Ethereum's high fees and slow speeds, Ronin enhances the gaming experience of Axie Infinity and aims to become a leader in Web3 gaming.
Ronin can process up to 100,000 transactions per second, much faster than many traditional blockchains. It switches from a Proof of Authority (PoA) to a Delegated Proof of Stake (DPoS) consensus system, improving speed and security, ensuring users a smooth gaming experience.
Ronin Network has seen significant growth, with its native token RON becoming one of the top gainers among major cryptocurrencies. RON is trading at around $1.79, reflecting a 7.14% gain over the past 24 hours and a 21.79% gain over the past week.
RON’s all-time high was $4.46 on March 26, 2024, while its lowest price was $0.00004011 on March 13, 2020. After reaching its peak, the coin’s lowest value was $1.54779 and its highest price was $2.16.
The recent price surge is related to RON’s integration with Philippine cryptocurrency exchange Coins.PH, which adds PHPC liquidity to the Ronin blockchain. The Philippines is a key market for both Axie Infinity and Ronin, so this integration has a particularly large impact.
