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#BinanceLaunchpool #Memecoins #bitcoinhalving $BTC $BNB $USDC

**Turkey Won't Tax Crypto and Stock Gains to Encourage Investment**

Turkey's Finance Minister, Mehmet Simsek, announced that there will be no taxes on profits from stocks and cryptocurrencies. This decision aims to increase investment and market growth by reducing the tax burden.

There is talk about a small transaction tax on these assets, but details are not clear yet. Simsek stressed the importance of a balanced tax system to keep the market healthy. Mehmet Gerz from Ata Portfoy warned that even a small tax might cause problems and discourage trading.

Turkey is finalizing rules for cryptocurrencies to improve security and meet international standards. The new rules will include licensing for crypto platforms, managed by the Capital Markets Board (CMB), and set requirements for safer trading.

Industry reactions have been cautiously positive. Mucahit Donmez from Binance Turkey thinks the regulations will protect users and provide clear guidelines. Turkey aims to become a digital finance hub by attracting investors and businesses with clear rules and tax exemptions, boosting economic strength and technological progress.

BREAKING: Google Pay Now Supports Bitcoin and Other Cryptocurrencies!

Great news for crypto fans! Google Pay, the popular mobile payment service, has announced that it now supports buying Bitcoin and other cryptocurrencies. This development makes it easier for people to acquire digital assets.

With Google Pay, you can now purchase Bitcoin, Ethereum, and many other cryptocurrencies directly from your phone. To get started, download the Google Pay app and set up your account. Once you're set up, you can buy crypto from trusted platforms like BitPay, XCoins, and Crypto.com.

The current price of Bitcoin (BTC) is $71,021, showing a slight decrease of 0.22% in the last 24 hours. Historically, 53.01% of the time, BTC has closed higher than its opening price. The highest price ever recorded for BTC was $72,689 two months ago, and the current price is 2.29% lower than that peak.

From 17 technical indicators, 12 suggest buying BTC and 3 suggest selling, indicating a short-term bullish sentiment. BTC's first major resistance level is $71,645; if it closes above this, it could rise to the next resistance at $73,687. The main support level is $68,743; if the price falls below this, it may drop further.

The 14-day Relative Strength Index (RSI) is at 65.96, indicating neither oversold nor overbought conditions. The weekly RSI is 63.48, also suggesting normal market conditions. On the daily chart, exponential moving averages show a bullish trend, with BTC's price above the 10, 20, 50, 100, and 200-day EMAs.

Historically, BTC's price at the end of June has been higher than the opening price six times out of the last 12 years and lower six times. February has been the best month for BTC, with prices ending higher than at the start of the month nine times out of 12 years. Conversely, September has been the worst month, with prices ending lower eight times out of 12 years.

Saudi Arabia, led by Crown Prince Mohammed Bin Salman, has decided not to renew a security agreement with the US that expires on June 9, 2024. This allows Saudi Arabia to sell oil and other goods in currencies like the RMB, Euros, Yen, Yuan, and more, instead of just the US dollar. This is a major change because it challenges the dominance of the petrodollar system, which has been in place since the US stopped linking its currency to gold in 1972. This decision is expected to accelerate the shift away from using the US dollar.

Bitcoin ($BTC ) is at a significant resistance zone, and breaking through this area could open up new opportunities. It has reached the intermediate resistance level of $71,500 and is currently stuck there. We've been experiencing congestion in this area for a while. I've been saying for a long time that as long as the $67,000 level is maintained, there is no cause for concern given the positive trend. Today's ADP data has increased hopes for an early rate cut, and we can see this optimism reflected in the #BTC price.

However, the really important data comes on Friday. Yesterday, there was an impressive $887 million inflow into spot #ETF. Bitcoin is our leader, and $ETH is our comrade.

BITCOIN TO END YEAR AT $100,000 “OR EVEN HIGHER” - HERE’S WHY…

- Mike Novogratz, the CEO of Galaxy Digital, expressed an optimistic outlook on #Bitcoin in a recent interview with Bloomberg TV.
“If we reach $73,000 within the next week or so, we’ll end the year at $100,000, or even higher,” said Novogratz.
- The CEO cited the US regulatory environment as a key reason for his optimism. Specifically, he mentioned…
- The recent approval of spot #Ethereum ETFs by the SEC.
- Bipartisan support for the pro-crypto FIT121 bill.
- The repeal of the SEC’s controversial SAB121 rule (despite Biden's veto undermining Congress).
“We’re getting regulatory clarity, even though it’s not perfect.”
- However, Novogratz’s crypto predictions have not always been accurate in the past.
- The Galaxy CEO famously got a Terra/Luna tattoo before the ecosystem's collapse in May 2022.

Why crypto? Because we’re unlocking so much potential! 🔑 From quicker, more affordable international transfers to providing financial access for the 1.4 billion unbanked people worldwide. Here's an excellent #Binance Blog article that discusses this.

The US has Bitcoin ETFs.
The UK has Bitcoin ETPs.
Hong Kong has Bitcoin ETFs.
Australia has Bitcoin ETFs.
Thailand has Bitcoin ETFs.
Which country will be next?

BREAKING
🚨
Approximately $8.2 billion worth of Bitcoin and Ethereum options are set to expire today.
#Megadrop #StartInvestingInCrypto #FIT21 #altcoins #BlackRock⁩

Before the altcoin season starts, here is my carefully curated altcoin basket:

- DOGITA
- BCCOIN
- MINTLAYER
- HEROX

#StartInvestingInCrypto #Bitcoin

💥 Disclaimer: These posts are for informational purposes only and do not offer buying or selling advice. Please conduct your own research before making any investments. DYOR.

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Lynn Martin, Chairman of the Board of Directors at NYSE Group, the parent company of the New York Stock Exchange, stated: "We have been in discussions with the SEC about Bitcoin for more than six years. The success of Bitcoin ETFs and the liquidity they bring to the markets is undeniable."

Bitcoin has been trading around its previous cycle high for about 11 weeks. In 2017, this period lasted around 4 weeks, and in 2013, it took about 13 weeks. Both times, this was followed by a significant price increase. I don't expect Bitcoin to move slowly once it breaks out of this price range.

1. People expected the Bitcoin ETF to be approved in March, but it was actually approved on January 2.
2. Previously, Bitcoin reached its all-time high only after the halving, but this time it hit its all-time high before the halving.
3. People thought the Ethereum ETF wouldn’t pass in May and would have to wait until August, but it was approved in May.
4. Everyone believed the bull market would last until 2025, but it turned out to be _____.
This round of market surprises is evident in all aspects!

We asked ChatGPT-4o what the price of ETH might be when the first Ethereum ETF is listed. Here’s what it said:

Ethereum (ETH) has performed well in the 2024 cryptocurrency bull market, but it has struggled to reach its all-time highs again, unlike many other coins, including Bitcoin (BTC).

Currently priced at $3,660.17 with a 65.58% increase this year, Ethereum has faced strong resistance around $3,800 and has failed to stay above this level despite multiple attempts.

However, the approval of spot exchange-traded funds (ETFs) announced on May 23 is expected to attract many new institutional and retail investors to Ethereum, which could change its price trend.

Consulting ChatGPT-4o, Finbold predicts Ethereum's price could jump to $4,750 once the first ETH ETFs are listed. This optimistic view considers the expected influx of investors and the improved market sentiment towards Ethereum after ETF approval.

ChatGPT also considers other factors specific to ETH, such as market dynamics following the 'merge,' to arrive at the $4,750 price target.

However, ChatGPT acknowledges that this prediction is not the only possible outcome. If ETH ETFs bring in more investors than expected and ETH stays above $4,000, the cryptocurrency could rise even higher to $5,000.

Conversely, if many investors take profits after the listing, similar to what happened with the BTC ETF approval in January, Ethereum's price might temporarily dip.
Source: finbold.com

SEC Chairman Gary Gensler:
• I don't trust cryptocurrencies because there's a lot of fraud, and many companies don't follow US laws.
• The SEC often wins court cases about crypto.
• We always follow the law when it comes to ETFs.
• Not all crypto tokens are securities, but most are.

📣SEC Chairman Gary Gensler:
• The crypto industry needs mediators.
• The SEC is prepared to oversee and regulate this new technology.

Bitcoin Resistance at $72K
📉 Bitcoin has encountered resistance at the $72,000 level.
This was anticipated as it represents the upper boundary of the current medium-term consolidation pattern.
2. Upcoming ETH-ETF Announcement
⚠️ Tomorrow, there will be an announcement regarding the approval or denial of spot Ethereum ETFs.
This is a crucial fundamental factor that will influence both short-term and long-term market movements.
3. High Probability of Approval
✅ The probability of these ETFs being approved is high.
📈 Anticipate potential growth in the market as a result.
4. Potential Market Manipulation
🔍 Be aware that market manipulation is possible, even with the likely approval.

Contribution Matters:
Your contribution is vital in maintaining accurate and profitable analysis. Your support enables us to provide valuable insights, helping you avoid losses and stay informed in future trading endeavors.

Upcoming key market events:
- Today, May 19, 2024, at 19:30 UTC — Speech by Fed Chair Powell
- May 22, 2024, at 18:00 UTC — FOMC Meeting

Financial markets are frequently irrational. When you are certain that a crisis is imminent, the market often rises, and vice versa. When Bitcoin reaches $100,000, the excitement will truly begin, with money flowing in all directions. Have a bit of patience, and you will witness an extraordinary spectacle.