$BTC Chart Update 📊
Spotted the mistake, analyzed what went wrong, and reanalyzed ✍️
As you can see, #Bitcoin smashed through the Golden Pocket at 62.7k, and we also saw a Change of Character. I adjusted my analysis, but the outcome remains the same.
Expecting a nice double top around 68k, ultimately bringing us to 52k.
My short is safe with a liquidation level above 70k, and I’m looking to short more at 68k.
#CryptoMarketMoves #PowellAtJacksonHole #bitcoin☀️ #BTC☀
5 Common Mistakes That Are Holding You Back from Profiting in Crypto
Investing in cryptocurrency can be lucrative, but many struggle to see returns. Let's explore five frequent missteps that might be holding you back:
1. Chasing Trends Instead of Research: Don't invest based on hype alone. Research thoroughly before making a move.
Example: Dogecoin's surge in 2021 - early adopters profited, but latecomers faced losses.
1. Trying to Time the Market: Perfect timing is impossible. Focus on a long-term investment strategy instead.
Example: Mike Novogratz's failed attempt to time the Bitcoin market in 2017.
1. Overlooking Security Measures: Prioritize security with measures like two-factor authentication and reputable platforms.
Example: The 2014 Mt. Gox hack - 850,000 BTC stolen due to neglected security practices.
1. Emotional Trading and Lack of Diversification: Avoid emotional trading, stick to a strategy, and diversify investments to safeguard against volatility and fraud.
Example: John McAfee's volatile trading habits in 2018 resulted in significant losses.
By learning from these examples, you can avoid common pitfalls and make more informed investment decisions. Remember, crypto investments carry risks, but with a solid strategy, you can maximize your returns. #CryptoInvesting💰📈📊 #AvoidCommonMistakes #BinanceLaunchpoolDOGS #BinanceBlockchainWeek #PowellAtJacksonHole
Bitcoin, Ethereum and Ripple (XRP) Coin Price Predictions Latest Situation.
The price, which has increased significantly compared to the previous week, is targeting $ 65.00. In order to break the new all-time record level, $ 63,100 needs to be protected as support. Beyond that, $ 65,000 can be tested. Investors are still timid due to the failure of upward attempts for weeks.
Investors who are hopeful for the weekly close are hoping for strong ETF inflows on the last day of the week after Powell's statements today. Data will start coming in a few hours. Buyer demand has revived on the #Binance exchange.
$ 2,681 was challenging for ETH and the key region was exceeded today. Now it continues the day with a 5 percent increase. #ETF demand on the Ether side is also likely to strengthen soon as ETHE sales slow down. We experienced a similar process for the #BTC ETF. The next stop of the #ETH price, which reached $ 2,731 at the time of writing, will probably be $ 2,930 and $ 3,000.
Then the rally is likely to accelerate. $BTC price performance will of course be decisive here. The 70,000 scenario in the first part will also pave the way for targets above $ 3,000 for $ETH .
XRP Coin, which lost $ 0.6 early, faced sales. This caused it to not benefit much from the recent rise. The $ 125 million fine given to Ripple now means the end of a nightmare that has been going on for years with minor scratches. If mass appeals and a new, more tiring surprise process do not start, $XRP Coin investors can be happy.
Considering the rapidly increasing supply since the last bull peak, prices of $ 3 will not be easy and much greater demand will be required. The resistance at $ 0.63 is the first major obstacle to overcome. Closing below this level may mean the continuation of the tedious consolidation process.
Certainly! Here’s a revised analysis and post based on the image:
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RFK Jr. Suspends Presidential Campaign to Endorse Trump, Defends Bitcoin as a Bastion Against Government Excess
On Friday, Robert F. Kennedy Jr. announced his decision to suspend his presidential campaign and chose to endorse another Bitcoin advocate, Donald Trump. The strategic move, made at a carefully planned event in Phoenix, Arizona, raises important questions about what it means for both candidates and the broader electoral landscape, especially for independent candidates and their supporters.
That support could significantly impact the direction of the election, especially in light of polarized support among voters. Kennedy acknowledged that staying on the ballot in critical states could inadvertently help Democratic candidate Kamala Harris. “Our polls have consistently shown that I could lose the election to the Democrats by staying on the ballot in these critical areas,” he said in his speech. His decision to support Trump while continuing to run in other states reflects a nuanced strategy aimed at maintaining relevance across an increasingly fragmented political spectrum.
Throughout his campaign, #Kennedy positioned Bitcoin as a defense against government overreach and unnecessary corporate expansion. His statements that Bitcoin is a “bulwark” reflect a growing awareness of the role of cryptocurrencies in contemporary socio-political debates. In particular, he proposed backing the US dollar with Bitcoin and making government spending transparent through blockchain technology—a concept that resonates with the growing cryptocurrency community.
In short, Robert F. Kennedy Jr.’s suspension of his campaign to support #DonaldTrump not only changes political dynamics, but also highlights a significant point at which cryptocurrency and national policy debates intersect. This focus on digital innovation and economic freedom could resonate deeply with voters disillusioned with established party lines and could potentially shift future election outcomes.
Legendary Analyst Reveals What the Next Target Is After Bitcoin's Recovery.
The legendary cryptocurrency analyst il Capo of Crypto has offered his followers new views in light of the latest developments in the market. #Bitcoin price jumped today with the increase in the possibility of an interest rate cut following Jerome Powell's dovish speeches.
Speaking after the rise on the #BTC side, the analyst explained that the first bullish confirmation in the BTC price was the rise above $ 62,000, and that this occurred after the latest developments. He stated that the current target is around $ 69,000-70,000.
According to the analyst, the second bullish confirmation will occur after the #Bitcoin price exceeds $ 69,000-70,000. According to il Capo, the main target after this will be between $ 75,000 and $ 80,000.
According to his opinion, il Capo wanted to ignore any short-term declines that may occur while these targets are being achieved. In addition, he said to focus on medium and long term with leverage in volatile times.
$BTC price recently saw below $49,000 during a sudden drop and caused concern in the cryptocurrency market.
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$KDA is currently hinting at a bullish continuation from a critical support zone at $0.40. Price follows a falling wedge pattern, and now it's gearing up to break above the descending resistance line. Internal resistance at $0.900is the next target for KDA .
{spot}(KDAUSDT)
If #KDAUSDT holds strong at this level, we could be on the verge of a significant bullish rally, echoing previous trends. A breakout above the key resistance at $0.900might set the stage for a run toward the next resistance zones and beyond.
However, caution is essential. If the momentum falters at this critical support, we might witness a rebound from the lower support area around $0.350–$0.400
#KDA #CryptoMarketMoves #LowestCPI2021 #BinanceLaunchpoolDOGS
🚀Crypto fans, rejoice!🚀
Friday brought double joy for the crypto world! First, Fed Chair Jerome Powell announced a monetary easing cycle starting next month. Then, RFK Jr. backed Trump, giving another boost to our beloved cryptos! 🌟
Bitcoin surged 5.6%, trading at $63,800, while the CoinDesk 20 Index climbed 4.7%. Tokens like ETH, XTX, and SOL also saw gains over 5%! 📈
With both Trump and Kennedy promising a crypto-friendly future, the race to the White House just got interesting. Who's excited? Drop your thoughts below!👇
#DeFi #Web3 #Crypto #Bitcoin #Bullish
🚀 Ethereum's Layer 2 networks are buzzing post-Dencun upgrade! 🚀
🔹 The March 2024 upgrade doubled daily transactions to 6.65M in just 150 days.
🔹 But, there's a catch—transaction failures are up, thanks to bot activity spurred by lower fees.
🔹 Arbitrum, Base, and OP Mainnet saw notable increases in failure rates: Base at 21%, Arbitrum at 15.4%, and OP Mainnet at 10.4%.
Despite the hiccups, the future looks bright for Ethereum's Layer 2! 🌟
What are your thoughts on this? Drop a comment below! 👇 #Ethereum #Layer2 #CryptoNews
**News Flash: Court Denies Kraken’s Motion to Dismiss SEC Lawsuit**
A U.S. federal court has denied Kraken's attempt to dismiss an SEC lawsuit accusing the crypto exchange of operating an unregistered securities exchange. The court's Aug. 23 ruling supports the SEC's claim that some of Kraken's crypto transactions may qualify as securities, thus falling under SEC regulations.
The SEC initially charged Kraken in November, arguing that the platform's failure to register deprived investors of key protections. This ruling adds to the ongoing debate over which cryptocurrencies are considered securities under U.S. law.
Coinbase faces a similar SEC battle over its staking products, and the SEC recently rejected Cboe Global Markets' application to list Solana ETFs, citing Solana as a security.
The court emphasized that the broader context of how virtual assets are marketed and sold matters more than formal investment contracts. This decision only confirms the plausibility of the SEC's claims, with a final ruling still pending.
**News Flash: Bitcoin Soars as Fed Hints at Rate Cuts**
Federal Reserve Chairman Jerome Powell hinted at imminent interest rate cuts during the Jackson Hole Symposium, sparking a Bitcoin (BTC) rally past $63,000. Analysts predict further gains as cheaper loans could drive investment in riskier assets like crypto.
Leena ElDeeb from 21Shares noted that past rate cuts, such as those in March 2020, led to significant crypto market growth. While history isn't a guarantee, it offers a benchmark for potential outcomes.
ElDeeb also highlighted the M2 money supply's role in Bitcoin's price cycles, suggesting a possible surge before a mid-cycle correction. Institutional interest remains strong, with notable inflows into Bitcoin ETFs from BlackRock and Fidelity.
"If you don't build for utility, don't bother." - @MathiasRuch, CEO of CV Labs
This statement perfectly captures the mission behind our partnership with @CV_Labs. In July, we launched the Blockchain Incubation Hub, powered by Lisk and CV Labs, with a cohort of 23 startups across Africa. CV Labs stands out because they don't just fund startups—they are deeply committed to ensuring these projects are designed to solve real problems faced by communities across Africa and beyond.
We are incredibly bullish on this collaboration because CV Labs cares about nurturing projects that can drive real-world impact.
10 Top Cryptocurrencies to Invest in for August 2024:
1. Bitcoin (BTC):
- Price: Approximately $64,000
- Market Cap: Around $1.3 trillion
- Year-over-Year Return: Around 128%
- Key Points: Leading cryptocurrency, significant performance in 2024 due to ETF approvals and Bitcoin halving.
2. Ethereum (ETH):
- Price: Approximately $3,300
- Market Cap: Around $399 billion
- Year-over-Year Return: Around 76%
- Key Points: Prominent blockchain for DeFi applications, transitioned to proof-of-stake in 2022, significant upgrades in 2024.
3. Solana (SOL):
- Price: Approximately $186
- Market Cap: Around $86 billion
- Year-over-Year Return: Around 636%
- Key Points: Recovery from 2023 collapse, growth driven by new projects and memecoins.
4. Ripple (XRP):
- Price: Approximately $0.60
- Market Cap: Around $33 billion
- Year-over-Year Return: 0%
- Key Points: Focus on banking sector transactions, potential spot XRP ETF.
5. Dogecoin (DOGE):
- Price: Approximately $0.12
- Market Cap: Around $18 billion
- Year-over-Year Return: Around 59%
- Key Points: Top meme coin, potential new use cases like Tesla purchases.
6. Avalanche (AVAX):
- Price: Approximately $27
- Market Cap: Around $10 billion
- Year-over-Year Return: Around 107%
- Key Points: High speeds, low costs, new projects in DeFi.
7. Quantum Resistant Ledger (QRL):
- Price: Approximately $0.21
- Market Cap: Around $14 million
- Year-over-Year Return: Around 36%
- Key Points: Focus on resisting quantum computing attacks.
8. Shiba Inu (SHIB):
- Price: Approximately $0.000016
- Market Cap: Around $9 billion
- Year-over-Year Return: Around 97%
- Key Points: Meme coin with utility, strong community.
9. NEAR Protocol (NEAR):
- Price: Approximately $5
- Market Cap: Around $5.9 billion
- Year-over-Year Return: Around 278%
- Key Points: Improved speeds and scalability through sharding and Nightshade.
10. Binance Coin (BNB):
- Price: Approximately $577
- Market Cap: Around $84 billion
Elon Musk's acquisition of Twitter has turned out to be a challenging endeavor, so much so that banks involved in financing the deal are now facing financial strain.
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Since the 2008 financial crisis, countless corporate buyouts have occurred, yet none have been as problematic as Musk’s $44 billion takeover of Twitter, according to the banks holding the debt. A recent report by the Wall Street Journal reveals that approximately $13 billion in loans used to fund the purchase of Twitter (now rebranded as X) remain stuck on the banks' balance sheets, with no clear path to offload them.
In typical debt financing deals, banks sell off portions of the debt to other investors. However, because X is a private entity, this process has been particularly difficult. When Musk purchased Twitter, it was valued at around $38 billion, a figure that made his $44 billion offer seem overly generous.
By contrast, in 2020, two years before Musk’s acquisition, the company reached a peak valuation of $62 billion. Since going private, X is not obligated to disclose its revenue figures, making it challenging to assess its current market value.
While the company estimated its worth at about $19 billion in late 2023, Fidelity analysts in January 2024 placed it closer to $12.5 billion.
The banks holding the majority of these loans, including Morgan Stanley and Bank of America, have seen the value of their holdings decline as X struggles with revenue generation.
Although the banks continue to receive interest payments, the loans have become burdensome liabilities on their balance sheets. Barclays, one of the banks impacted by these "hung loans," has even resorted to cutting employee salaries by as much as 40% due to multiple stalled deals, with X being the most significant among them.
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**Crypto Industry Sees Major Moves: Bitwise, Bitfarms, Tether, and Polychain Make Headlines**
The crypto world is buzzing with activity this week as companies refine their strategies amid growing blockchain adoption.
- **Bitwise Expands in Europe**: San Francisco-based Bitwise has acquired London’s ETC Group, adding nine European-listed crypto products to its portfolio. This move boosts Bitwise's assets under management to over $4.5 billion.
- **Bitfarms' Big Deal**: Crypto miner Bitfarms announced a $125 million acquisition of Stronghold Digital Mining. The deal includes $50 million in debt and could expand Bitfarms' energy capacity to over 950 megawatts by 2025.
- **Tether's UAE Stablecoin**: Tether is launching a stablecoin pegged to the UAE dirham, backed by local reserves. The initiative is in partnership with UAE-based Phoenix Group and Green Acorn Investments.
- **Polychain's Bitcoin Bet**: Polychain Capital led a $6.7 million investment in Corn Network, a Bitcoin-centric yield platform. The funding aims to develop DeFi applications on the Bitcoin blockchain.
Stay tuned for more updates as the crypto landscape continues to evolve.