BTC - May 29, 2024

OVERVIEW OF BITCOIN ANALYSIS TODAY:

- The end of the old month and the beginning of the new month can cause Bitcoin to fluctuate strongly.

- Struggling and accumulation price behavior is still happening in D1, which could lead to an explosion of volatility in the near future for Bitcoin D1.

- Bitcoin's main trend in H4 is to move sideways in an uptrend, so you can still wait to buy during the day.
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How to bet futures to avoid liquidation

💕 Only use traps from 20x - 50x
💕 Vol from 1% - 5% of total account

For example: For accounts from $1000 in and out vol is $100 and maximum $500. With small capital from $100 - $200, just vol. $10 - $20/order.
💕 The deposit rate is always <span so everyone can feel comfortable. Or, to increase safety for highly volatile coins, you can set sl at foot h4.
It's important that you always keep your account healthy so it doesn't get killed. That is the key to futures.
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Super important DATA today.

For the FIRST time in more than 2 months, the long rate is below 40%.
At the same time, the wall selling at 48k has also been completely absorbed.

This means that currently $BTC has a very strong holding force, and if the price drops, #Binance  has to pay the short side because the ratio is tilting towards this side.
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Cryptocurrency analyst Ali Martinez mentioned the possibility of Cardano (ADA) price increase in his statement. Here are the details.

Ali Martinez, one of the famous analysts of the cryptocurrency market, made a statement about the possibility of a bull run in ADA.

According to the analyst, if the Cardano price moves according to the pattern in late 2020 and exhibits similar price behavior, the price of this altcoin could remain in a sideways phase until April 2024.

However, the analyst asserts that this sideways move will set the stage for ADA's next price increase.

At the time of writing, Cardano price is trading at $0.507 and has lost about 8% of its value in the last month.

Cardano broke its all-time high price record reaching as high as $3.10 during the massive 2021 altcoin bull run. ADA is currently trading 83.33% below this level.

In addition, Ali Martinez also shared interesting onchain data about Bitcoin. According to data shared by the analyst, 912,626 BTC have moved around the $42,560 level, which is the area of ​​greatest concern for BTC to date.
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Investing in crypto especially altcoins is simply the following 4 things:

1. Find a reputable platform and token of a reputable project to play

2. Look at the token usecase, tokenomics and how the project works to see where the dev and fund will make money from. 99% is from token release

Remember clearly before releasing, you must push xxx to create greed to have liquidity!

3. Find a nice entry with the right price and the right time to play (just compare the price correctly, including comparing with the project most similar to it, comparing with other newly launched projects,... $ALT For example, 300m is a very nice cap)

4. Plan where to HOLD, when to hold, where to hold?

- Why hold here - because now is not the time for maximum fomo!

- Why hold until the target around 2025 - because that is when the whole world will spend money

In addition to how to HOLD, you must know what DCA is like, most of you lose because you deposit money to make liquidity - DCA to death during the bull season!

Those who win wait for a good opportunity to make money, not to collect goods for fear of missing the train or making liquidation - if you don't see an opportunity to make money, then sit and wait!
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Will $BTC continue to soar?

◽️ Closing last week's candle was a Pinbar candle that came with a relatively stable increase in volume. There is a strong possibility that $BTC will rise to 44k-46k. Need to consider further to achieve the 50k - 55k milestones.

◽️ Day with stoploss sweep at about 40k then increased sharply to 42k. Therefore, you can get on the boat if the cadence is adjusted to about 40.5k - 41K.

◽️ You can refer to Altcoins with more volatile charts than $BTC such as $SOL, $MANTA, $SUI and $ALT for short-term trading.
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Surely we are not surprised that Tether continues to print another 1 billion USDT, so what is the truth about this?

First, you probably all think that when minting such a large amount of USDT, they will push up the price and cause the whole market to go up.

There will be 2 cases when stablecoins are added and pushed to the market by mints.

The first thing will be to pull the market up, like last night when 1 billion USDT was minted and pushed into the market through the Tron network.

One thing that people rarely pay attention to is that once they finish printing, they don't necessarily push it to the market right away, they can circulate the cash flow to do other things, such as paying off debt, paying salaries and many other things. .

In essence, this will usually be Tether creating news so that you can follow and believe that if you print more stabelcoin USDT, the whole Market will fly => create Liquid (liquidity) for all parties.

Second, we need to pay attention to the market's idle cash flow, when there is a large amount of stablecoins floating in the market.

This amount of stablecoins is floating for the sole purpose, when there is goodnew, it will be used to push into the market, creating fomo for the market.

Tether currently has 86 billion USD to guarantee the amount of 83 billion USDT circulating in the market, so you can understand that the mint is issued to balance the accounting sheet.

What do you think about Stablecoins being minted on the market? Is there any secret behind this story?
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📣 UNDERSTAND THE RELATIONSHIP BETWEEN BITCOIN MINING COSTS AND PRICE PREDICTIONS 📎

🥂 Bitcoin mining costs include the cost of purchasing a mining machine, electricity costs, and other costs such as operating costs, maintenance costs, etc. The current average Bitcoin mining cost is $45k. This means miners are losing money, as Bitcoin price is only around $40k.

💯 Halving is an event that reduces the reward by half for each Bitcoin block mined. Halving takes place every 210,000 blocks, approximately every 4 years. After the halving, the cost of mining Bitcoin will decrease to around $26k. This is because the block reward will be halved, causing miners to need less Bitcoin to break even.

🛍 Miners are investing a lot of money in mining machines and electricity. Therefore, they will have to sell Bitcoin if the price does not increase. This will cause the price of Bitcoin to decrease further.

👍 Recommended
✅ If Bitcoin price drops below $30k it is a good opportunity to buy Bitcoin. The reason is because miners will have to sell Bitcoin at this price to compensate for mining costs.
✅ If Bitcoin price fluctuates between $32 - $35k, that is also a reasonable price to buy Bitcoin. The reason is because miners will still lose money at this price, but they will not have to sell Bitcoin at too cheap a price.
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🚀Latest Trading Trend: Could Bitcoin Hit $100,000 by 2024?🚀

💸Bitcoin is a decentralized cryptocurrency created in 2009. Since then, the price of Bitcoin has skyrocketed. The future of Bitcoin remains unknown, but many analysts believe that Bitcoin price could reach $100,000 by 2024.

🔼Here are some reasons why Bitcoin price could continue to rise🔼

📌Growing widespread acceptance: Bitcoin is becoming more widely accepted as a payment method. Many large companies, including Tesla and Microsoft, now accept Bitcoin as payment.

Favorable regulation: Many governments are tightening regulations on cryptocurrencies. This could help drive Bitcoin adoption and increase market liquidity.

📌Scarcity: Bitcoin has a limited supply, only 21 million Bitcoins. This could cause Bitcoin prices to increase over time as demand increases.

However, there are also a number of factors that could restrain the rise of Bitcoin price, including:

❗️Regulatory Risk: Governments may tighten regulations on cryptocurrencies further, which could be detrimental to Bitcoin price.
❗️Technical risks: Bitcoin is a new technology and there are still potential technical risks, such as cyber attacks.
❗️Economic risks: A global economic downturn could lead to reduced demand for Bitcoin and Bitcoin prices.

🛡Overall, there are both positive and negative factors that could affect the future price of Bitcoin. There is no sure way to know if Bitcoin price will reach 100.000 dollars by 2024 or not.
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☄️ AFTER BITCOIN ETF, ETHEREUM ETF IS ABOUT TO BECOME THE NEXT CRYPTOCURRENCY STAR 👍

🖥 The US Securities and Exchange Commission's (SEC) approval of a spot Bitcoin ETF in January 2024 is an important turning point in cryptocurrency adoption. This event marks the recognition by regulators of cryptocurrencies as a legitimate asset class, which can be traded in traditional financial markets.

🛡 On the heels of this event, there are up to 7 Ethereum ETF applications awaiting SEC review and approval. According to experts, the SEC is likely to approve all these applications by May 2024.

👍Positive:
✔️ Increase adoption by traditional investors: Ethereum ETF will help traditional investors, who do not want direct exposure to cryptocurrency, easily invest in Ethereum. => increase the acceptance of Ethereum in traditional financial markets.
✔️ Increase liquidity for the Ethereum market: Ethereum ETF will help increase liquidity for the Ethereum market, making it easier for investors to buy and sell Ethereum.
✔️ Opens up new investment opportunities: Ethereum ETF will open up new investment opportunities for investors, such as leverage and derivatives strategies.

📎 Challenge:
❗️ Liquidity: Ethereum supply is currently limited, which could cause liquidity issues for the Ethereum ETF.
❗️ Risk management: Investors need to clearly understand the risks when investing in Ethereum ETF.
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