💫 The most profitable cryptocurrencies in May, according to | Crypto De Nostradame on Binance Square

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💫 The most profitable cryptocurrencies in May, according to categories.

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Robert Kiyosaki has put an end to the debate of “Bitcoin or gold?” Intense debates have been going on for years in the financial world about which is the better investment option between gold and #Bitcoin (BTC). In this context, famous investor Robert Kiyosaki also shared his views. Kiyosaki, author of the best-selling personal finance book “Rich Dad Poor Dad,” expressed his disappointment in these debates in his X post on September 13. Kiyosaki pointed out that instead of focusing on which asset performs better in the market or offers more advanced technological innovation, what really matters is the ownership of the assets. “Why do we constantly argue about which asset is better? Gold or Bitcoin? I think what really matters is the amount of gold and Bitcoin you have.” This debate between #Bitcoin and gold is shaped around the role of both assets in financial markets. Bitcoin is called “digital gold” by some because it has similar characteristics to precious metals due to its scarcity. However, due to Bitcoin’s historically high volatility, it is widely believed that using it as a store of value is risky. Whether cryptocurrencies can protect investors during economic uncertainties is still unclear. On the other hand, while gold has been considered a stable store of value for many years, Bitcoin has not even completed a quarter of a century yet. According to data shared by a crypto analyst with the pseudonym TheDustyBC on September 13, there is a strong positive relationship between Bitcoin and gold prices. The data provided by CryptoQuant shows the relationship between the two assets fluctuating over time; the correlation coefficient has both positive and negative values. However, it is observed that this correlation is approaching 0.6 levels and is on an upward trend as of 2024.

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Bitcoin winks at the bull run: “This time it’s different” Commenting on #Bitcoin (BTC) reaching $60,000 for the first time in two weeks, the crypto analyst predicted that the rise will continue. The cryptocurrency market entered an eventful weekend. Altcoins recovered on Friday with BTC rising by over 4 percent. Although BTC’s rise was considered as a pre-pricing of the Fed’s interest rate decision next week, the analyst argued that the rise would be permanent. Crypto expert Rajat Soni commented in his X post dated September 13, “This time it’s different.” Rajat Soni, who explained that Bitcoin has been consolidating above $50,000 for more than six months, published a remarkable analysis. $BTC last rose above $50,000 in 2021, and during that period, the asset was mostly shown interest by individual investors. Evaluating historical data, Soni stated that the #BTC price had difficulty maintaining $ 50,000 due to individual investors who bought and sold based on emotions. “Institutional investors are ready to buy everything individual investors want to sell,” Soni said, and concluded his words by saying, “If you are selling, be prepared to pay much more to get the same amount back.” The analyst argued that the increasing interest from institutional participants was greater than in 2021. Trader Jelle suggested that #BTC could defy the downward trend in September. Noting that there were only three green closes in September, Jelle commented, “#Bitcoin is currently on track to close September in green.” Michaël van de Poppe reported in his X post dated September 12 that the BTC price remained below its potential and should reach $ 300,000.

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Bitcoin marched, altcoins ran: The biggest risers of the day. The cryptocurrency market closed the week positively after a turbulent week. The BTC price rose by over 4 percent the other day. While analysts started to comment one after another, investors' interest in crypto increased. BTC, which rose to $ 60,000 after more than two weeks, allowed altcoins to move away from their lows. Many altcoins achieved sensational increases. ** #Nervos Network (CKB), a proof-of-work platform consisting of multiple blockchain layers, became the biggest riser of the day. The smart contracts platform attracted attention by increasing by 36 percent in the last 24 hours. According to CoinGecko data, CKB recorded a trading volume of $ 639 million in the last 24 hours. CKB's market value exceeded $ 630 million. **#CorgAI , an artificial intelligence memecoin focused on building a strong community, has increased by 28 percent in the last 24 hours. The popular memecoin was the second highest-rising altcoin of the day. CORGAI recorded a trading volume of $2 million in the last 24 hours and reached a market value of $312 million. **#Turbo , the first memecoin designed through the artificial intelligence chatbot ChatGPT, was one of the altcoins at the top of the day. The artificial intelligence memecoin increased by 18 percent in the last 24 hours. TURBO, which has a market value of $292 million, recorded a trading volume of $70 million in the last 24 hours. **The decentralized finance (#DeFi ) project on the Base blockchain was one of the highest-rising altcoins of the day. The token of the decentralized exchange, which stands out with its automatic market maker algorithm, increased by 15 percent in the last 24 hours. Recording a trading volume of $32 million in the last 24 hours, AERO has a market value of $432 million. **One of the favorite altcoins of the 2021 bull, the layer-1 project Oasis Network (#ROSE ), rose by 14 percent and took the top spot of the day. Smart contracts platform ROSE attracted attention with its rise after remaining silent for a long time $BTC $ROSE

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Bitcoin made us laugh after two weeks: Expectations increased! The leading crypto Bitcoin (BTC) rose above $60,000 for the first time since August 29. BTC, which increased by over 4 percent in the last 24 hours, gave hope to investors. While activity began in the cryptocurrency market, eyes turned to the Fed's interest rate decision to be made next week. BTC rose on the last trading day of the week. Crypto analysts stated that the potential bottom levels were completed and the price started to recover. Spot Bitcoin ETFs traded in the US reported a net inflow of $263 million the other day. Positive consumer and producer inflation data from the US paved the way for the rise of #Bitcoin (BTC). While consumer inflation decreased to 2.5 percent annually, producer inflation increased by 0.1 percent monthly. Economic experts who evaluated the data in question shared the common view that the Fed will cut interest rates by 0.5 basis points in September. For two years, it has been expected that the Fed will cut interest rates and begin monetary easing. For the first time since the Covid-19 period, inflation in the US has fallen sharply. BTC, which is preparing for the monetary easing process, is waiting for the #FOMC meeting next week. The Fed interest rate decision will be announced on Wednesday, September 18 at 21:00 Turkey time and the FOMC economic plans will be announced. $BTC BTC is expected to maintain the $ 60,000 level throughout the weekend and make a strong start to the new week. According to analysts, the rise that BTC has made this week is pricing in the Fed's interest rate cut next week. Amid speculation that a bear market will occur in September, the Bitcoin price reached $ 60,000. With this rise, BTC's September performance turned into a 1.51 percent increase. If #BTC closes the month above $ 60,000, the downward cycle known as the "September curse" will end. As is known, BTC had completed 8 of the last 11 years of September in negative. September turning green in the monthly performance table was welcomed positively.

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What Events Could Affect Bitcoin (BTC) and Altcoins This Week? It has been observed that upward movements have occurred in the cryptocurrency sector as of this week. While the leading cryptocurrency #Bitcoin (BTC) reached the levels of $ 60,000, it was observed that many altcoins managed to gain value again. A successful analytics company, #QCP Capital, shared a report on the developments this week as of today and mainly provided the following information: US Presidential Race: * The debate between Trump and Harris was the most important event of the week, but nothing was mentioned about cryptocurrency. *Harris won the support of Taylor Swift, who has great influence by using her years of experience as a lawyer in the debate. *Currently, according to Polymarket, Harris has slightly exceeded 50% in her chances of becoming the first female president of the United States. US Inflation Data: *The Consumer Price Index (#CPI ) data released on Wednesday came in line with expectations (2.5% actual vs. 2.5% expected), increasing the probability of a 25 basis point rate cut by 85%. *However, the Core Producer Price Index (YoY) released on Thursday came in 0.1% below expectations (2.4% actual vs. 2.5% expected), leading the market to balance between the 25 basis point and 50 basis point cut possibilities at a 50%-50% level. *Gold continued its rally after the PPI data, reaching new highs. Crypto Asset Fund Flows: *The #BTC ETF saw positive inflows on 4 out of 5 days this week, with an inflow of +$263.2 million recorded on Friday, while net outflows were experienced throughout the past week. *Funds outflows from #GBTC are slowing down, with an inflow of $6.7 million recorded on Friday. *Microstrategy announced on Friday that it purchased an additional 18.3K BTC, bringing its total $BTC holdings to 244.8K. *During last night’s rally to $60K, approximately $50M worth of short positions were liquidated.

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