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"Bitcoin is the Best Trade Right Now, But Leverage Could Ruin You, Says Expert"

The Crypto Basic

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A market veteran warns traders and investors against the use of leverage for #Bitcoin trades despite admitting Bitcoin’s appeal. 

Read more on: https://thecryptobasic.com/2024/12/19/expert-says-bitcoin-is-the-best-trade-you-ever-see-but-warns-against-leverage-use/
#CryptoNewsDaddy 

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

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Leading Ethereum wallet provider MetaMask announces the launch of a limited pilot program for the MetaMask Card in the U.S. MetaMask announced the development yesterday, noting that selected U.S. residents can now gain access to the payment card before it is released to the public. The MetaMask Card allows users to spend the crypto assets stored in their MetaMask wallet in physical stores and online platforms where Mastercard is accepted. Despite launching the limited pilot program in the U.S. yesterday, the team emphasized that the product is unavailable in states like New York and Vermont. #CryptoNewsUSA

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"Lobbyist Currency of 2025"? WallStreetBets Founder Backs Cardano’s Rise"

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As the broader market experiences a massive crash due to selling pressure, altcoins are falling rapidly. However, amid these rising bearish conditions, #SUI is maintaining dominance at its crucial support levels. As the altcoin showcases resilience amid increased market volatility, its ability to hold above the $4 psychological mark reflects strong underlying support. SUI Price Analysis On the 4-hour chart, the SUI price trend reveals a rising channel pattern. The bullish extension is triggered by a breakout of a falling channel within this bullish pattern. However, SUI has encountered strong resistance near the $5 psychological level. The trend is struggling to close decisively above $4.75 while facing significant price rejections as it attempts to surpass the $5 mark. With multiple long-wick formations due to massive supply pressure, SUI’s price consolidated for a while. The consolidation range extended between the 61.80% Fibonacci and 78.60% Fibonacci levels, at $4.44 and $4.75, respectively. The pullback in the broader market recently caused SUI’s price to drop below the consolidation support. While increased supply pushed the price to a new 24-hour low of $4.07, the underlying strength and psychological support led to a swift recovery. SUI is currently trading at $4.3850, reflecting an intraday growth of 1.16%. However, the negative cycle within the rising channel pattern resulted in a 6.67% drop yesterday. With lower price rejections, SUI maintains a close above the 50% Fibonacci at $4.194. The recovery aims to reclaim the $4.50 level. The recent shift in sentiment has led to a declining MACD and signal line trend, extending its bearish momentum. Additionally, the RSI is approaching the oversold boundary. These momentum indicators suggest a strong bearish trend in SUI prices. #CryptoNewss

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"Revised Bitcoin Law in El Salvador: Public Sector Exposure Limited and $3.5B Deal Secured!"

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#Dogecoin could exceed the $1 psychological mark if Bitcoin and Ethereum spike to $325,000 and $22,500, as projected by VanEck. Crypto prices have soared tremendously since last month, with top assets like Bitcoin (BTC) and Ethereum (ETH) surging above $100,000 and $4,000, respectively. Although ETH has witnessed a pullback below the $4,000 mark, Bitcoin currently trades above $100,000. Nonetheless, the premier crypto assets are preparing to clinch some audacious targets issued by top experts. Specifically, Matthew Sigel, Head of Digital Asset Research at VanEck, set a bullish price target of $325,000 for Bitcoin in June. Interestingly, he also projected that Ethereum will someday trade at $22,500. Dogecoin Correlation with Bitcoin and Ethereum If VanEck’s prediction for Bitcoin and Ethereum comes true, other crypto assets like Dogecoin (DOGE) will also surge to unprecedented levels, given their correlation. The price movements of Bitcoin and Ethereum usually determine the trajectory of other assets like Dogecoin. An increase in Bitcoin and Ethereum prices translates to a positive performance for DOGE and vice versa. Data from IntoTheBlock shows that Dogecoin has a 97% correlation with Bitcoin over the past 30 days. Similarly, Dogecoin also boasts a strong correlation of 86% with Ethereum’s price action in the same timeframe. #CryptoNews”

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