Trump and Harris have different takes on cryptocurrency. 😤🇺🇸
Trump, 👱‍♂️ who used to criticize crypto, now wants to make the U.S. the "crypto capital of the planet." 🇺🇸💪 He’s all-in, promising to ease regulations and create a National Strategic $BTC Reserve. At a #Bitcoin conference in Nashville, he got support from big names like Elon Musk and the Winklevoss twins.
On the flip side, Kamala Harris 👩‍🦰 has been quiet on crypto since Biden endorsed her. The Biden administration has been tough on crypto, but it's unclear if Harris will continue this stance or soften it. 🤔 There's a split in the Democratic Party on this issue, and Harris's campaign has been in talks with top crypto firms to potentially reset relations.💦
What do you think? Should the 🇺🇸 U.S. embrace crypto more, or is it too risky? Share your thoughts! DYOR!

#BlackRockETHOptions #RoninBridgeAlert #MarketDownturn #BTC☀ #professorxchopper

Ethereum Price Prediction: Will ETH Price REBOUND Back Over $3000 This WEEK?

Ethereum has shown resilience in the face of market volatility, managing to climb above the $2,550 resistance zone. Currently trading around $2,680, ETH is eyeing a potential rise above the $2,720 resistance level. The presence of a bullish trend line on the hourly chart suggests that Ethereum could break through the $2,865 resistance, paving the way toward the $3,000 mark. However, if the $2,720 resistance isn't cleared, a downward correction could bring ETH back to the $2,550 support zone or lower.

Whale activity has been a significant factor in Ethereum's recent price movements. Recently, two large transactions, totaling nearly $56 million, were made by Ethereum whales. Such large-scale purchases are often seen as bullish signals, indicating long-term confidence in the asset. The whales’ tendency to hold rather than sell during market dips could support Ethereum's price, reducing the likelihood of a significant sell-off and possibly fueling further price increases.

Despite some positive signs, Ethereum has faced considerable challenges, including a sharp decline in value, currently hovering around $2,400. Market pessimism, high transaction fees, and scalability issues have all contributed to Ethereum’s struggles. As a result, its position as the second-largest cryptocurrency is under threat, with competitors like Solana gaining ground.

On the brighter side, Ethereum’s ongoing technological advancements, such as the integration of GPU-efficient STARK proving code, are strengthening its foundation. These updates, crucial for scaling and securing the network, demonstrate Ethereum's commitment to innovation and could play a vital role in its recovery. Additionally, Vitalik Buterin’s recent transfer of 200 ETH has sparked interest, signaling potential market shifts and the network's resilience.

#professorxchopper #Write2Earn! #MarketDownturn

Bitcoin whale games get traders nervous as 12K BTC appears for sale 🐋.

$BTC dipped below $60,000 at the Aug 09 Wall Street open as traders eyed “unreasonable” whale moves. Latest BTC price uptick running out of steam after reaching $62,775 on Bitstamp.Now down 3% versus the daily open, BTC/USD faced significant resistance above the $62,000 mark, with analysis suggesting that this could be intentional manipulation.

“Someone placed large sell orders from $61200-$62500, Total 12K BTC,” monitoring resource CoinGlass responded on X reviewing the Binance order book.

Popular trader Daan Crypto Trades noted the imbalance between bid and ask liquidity, with buyers still lacking volume from the day prior.

#Write2Earn! #BinanceSquareFamily #professorxchopper

Bitcoin price must flip $62K to avoid worst 'death cross' consequences 💴

$BTC is still due to close a daily chart "death cross," but $62,000 resistance could be key to mitigating the $BTC price downside which has followed in the past. Bitcoin can beat its imminent “death cross” if it flips $62,000 to support, the latest analysis says.

$62,000 becomes key BTC price resistance hurdle

Recent $BTC price action has led BTC/USD to the door of another moving average crossover classically known as a “death cross.”

This involves the downward-sloping 50-day simple moving average (SMA) crossing below its 200-day equivalent. Currently, the 50-day and 200-day SMAs stand at 61,998 and 91,882, respectively, per data from Cointelegraph Markets Pro and TradingView.

#Write2Earn! #professorxchopper #BinanceTurns7

Binance Plans System Upgrade on August 14

The leading bitcoin exchange worldwide, Binance, has announced a forthcoming update to its spot and margin trading system. Set for August 14, 2024, the upgrade is projected to run for about one hour and start at 06:00 AM (UTC). Part of Binance’s continuous dedication to providing its customers with better trading experiences by maximizing performance, boosting dependability, and including fresh features to satisfy the changing needs of the worldwide trading community is this system improvement.

▫️What will be its impact on trading activities❔

All spot and margin trading activity will be momentarily stopped during the upgrade. This covers margin account transfers, order cancellations, and placements. Before the planned outage, Binance has recommended that consumers check their trading positions and make any required changes to help prevent possible interruptions.To prevent any liquidations during the maintenance period, users are also advised to keep a close eye on their margin positions and think about boosting margin if needed. Once the upgrade is finished and regular trading can start, Binance will let users know. The improvement is meant to increase Binance’s trading systems’ general security and efficiency. The upgrade will guarantee that Binance stays at the forefront of technological innovation in the digital asset market.

According to Binance, this update is absolutely essential for its long-term plan to provide a world-class trading platform capable of managing the rising transaction volume and complexity.

#professorxchopper #BinanceSquareFamily #Write2Earn!

Elon Musk and Trump Interview: Were Cryptocurrencies Discussed ?

The highly anticipated Elon Musk and Donald Trump interview, which took place on Monday, had caused great expectations in the cryptocurrency world. Since it is known that both Elon Musk and Donald Trump have close ties to the cryptocurrencies, it was expected that these topics would be touched upon in the interview. However, nothing was discussed about Bitcoin and cryptocurrencies in the interview. Instead, the duo discussed topics such as inflation, trade, nuclear energy, power and education.

Although the Elon Musk and Donald Trump interview was highly anticipated in the crypto world, it was disappointing that there was no discussion on the subject. Instead, issues such as economy, inflation and bureaucracy came to the fore. Another notable topic was Musk and Trump’s future collaboration, especially Musk’s possible role in the Trump administration. This interview was recorded as an important moment in terms of giving clues about the direction the relationship between Musk and Trump will take.

#professorxchopper #Write2Earn! #CryptoMarketMoves

Top 3 Bitcoin, Ethereum, Ripple Price Analysis:

BTC Faces Downside Risks, ETH and XRP Rebound,
Bitcoin ($BTC ) price commenced the week with a minor dip below $58,000, raising concerns about its future performance. On the other hand, Ethereum ($ETH ) price climbed higher, ready to tackle the next key resistance alongside Ripple ($XRP ) price bullish outlook.

#CryptoMarketMoves #professorxchopper #MarketDownturn

Investors Pull Back from BNB, Fear Extended Decline Ahead

According to CoinShares’ latest report, digital asset investment products saw inflows worth $176 million. This increase suggests that investors saw last Monday’s crash as an opportunity to accumulate at discount prices. While Bitcoin ($BTC ), Ethereum ($ETH ), and Solana ($SOL ) saw notable inflows, BNB was the only top-5 coin to experience an outflow. Specifically, Binance Coin recorded outflows totaling $1.2 million. This decline could be linked to BNB’s price action. During the flash crash, the coin’s value dropped to $404.30, causing panic among investors and spreading doubt about the cryptocurrency’s potential.

BNB ecosystem is experiencing a significant decline in development activity, a key metric for assessing a blockchain’s health and valuation.This metric indicates whether a project is experiencing growth and smart contract deployment. An increase in development activity suggests that developers are rolling out new features, which can potentially drive user adoption of the blockchain.

Current position means that BNB is undergoing a bearish trend. Suppose this remains the same; BNB’s price may decrease to $479.10. However, if bulls retrieve dominance from bears, the value of the coin may jump to $526.

#MarketDownturn #professorxchopper #Write2Earn!

Why is Ethereum (ETH) price up today ? 📈

Ethereum price just had its second-best day of 2024, with an uptick of 14.5% on Aug. 8, as big wallets accumulated ETH. Ethereum retested $2,111 on Aug. 5 for the first time since Jan. 3, briefly giving away 98% of its 2024 yearly gains. The ETH/BTC chart also illustrates weakness against Bitcoin, with the trading pair reaching a 1,211-day low. Meanwhile, Ethereum ETF inflows recorded a minor netflow of negative 2.9 million on Aug. 8 after exhibiting over $150 million in positive inflows right after Monday’s market rout. The total flow remains negative at $390 million at the time of publication.

Ethereum rises as crowd’s "primary focus" after dip

Ethereum has regained 27% since hitting Monday’s lows at $2,111, primarily due to the market’s overall recovery. Bitcoin witnessed a strong rally of 12% over the past 24 hours, and Ether followed suit. Both the assets currently share a correlation index of 0.82 over a 90-day period, suggesting that BTC and ETH are virtually in lockstep. Meanwhile, Santiment, an analytics platform, highlighted that the crowd was primarily focused on Bitcoin and Ethereum after Monday's sharp decline. Ether appeared as a potential buy opportunity, and ETH addresses illustrated this sentiment, as explained in the next section.

Market to "offer several chances” to buy ETH — Analyst

While Ether has jumped swiftly from its recent lows, the altcoin is expected to consolidate sideways over the next few weeks. According to CrediBULL Crypto, a popular crypto trader, Ethereum will possibly witness “one more marginal lower low," which will see a retest of support at $2,111. Ethereum’s weakness against Bitcoin as a primary reason. In other words, a minor correction for BTC might trigger a bigger decline for ETH.

Despite the recovery, however, Ethereum’s daily chart is looking bearish. ETH price closed below its long-term bullish trendline (white ascending line), which dates back to October 2023.

🔔 Like and Follow if you find this article informative,

#professorxchopper

Market going through ups and downs?📊

Remember to always be mindful of your debt positions to ensure smooth management of your investments.

#professorxchopper

China 🇨🇳 to Unban Bitcoin? Crypto Community Remains Skeptical

Recent social media buzz suggests China may lift its Bitcoin ban, sparking mixed reactions in the crypto community. Despite the optimistic chatter, skepticism prevails due to China’s historically strict regulatory stance on digital assets. CEO of Galaxy Digital Mike Novogratz stated on X on July 14 that he has heard rumors that China is “likely to unban” Bitcoin by late 2024. In the post, he wrote, “If this is true, and it’s the second time I’ve heard in weeks, it’s a huge deal,” and requested additional information from the community on the matter.

Novograts post began an online debut, one of the Twitter users brought up mainland China’s numerous attempts to outlaw certain activities about Bitcoin and other cryptocurrencies, citing a 2017 ban on cryptocurrency exchanges and an interdepartmental crackdown on cryptocurrency in 2021. In a comment they stated, “They have banned it like six times, and nothing has happened. The same thing will happen when they ‘un-ban’ it multiple times.”

China has maintained its position as the world leader in Bitcoin mining and other cryptocurrency activities despite the stringent regulations.
Wang Yang, a professor at Hong Kong University of Science and Technology, reportedly questioned the reasoning for China’s prohibition on cryptocurrency mining in late June and urged the government to embrace the technology in light of the geopolitical risks involved.

#professorxchopper #Write2Earn! #BinanceTurns7

The key to profitable trading is not predicting the future,
But managing risk.
#professorxchopper
(Do you agree?)

Will the Harris-Walz presidential campaign prioritize crypto policy?

Crypto users who support or are at least open to voting for Democratic presidential nominee Kamala Harris have 88 days to make their case that the United States vice president will be better for crypto policy than Republican nominee Donald Trump. Harris has been largely silent on economic issues, including those potentially affecting the crypto industry.

The relatively sudden “jump” into digital assets from the Republican ticket, coupled with the unknown of what the Harris-Walz campaign could mean for crypto, has many in the industry paying attention. Members of Harris’ team have already been discussing crypto policy with company executives, and White House staff with crypto industry experience are reportedly moving to her campaign or political action committees supporting her election.

In the 19 days since the Harris campaign launched, her poll numbers have put her in a dead heat with Trump in battleground states, and many in the crypto space seem to be hedging their bets on the outcome of the presidential election. Market prediction platform Polymarket, which initially had Trump leading Biden, recently rated the race between Harris and the Republican nominee as a “tossup.”

Though Harris did not speak at the Bitcoin 2024 conference in Nashville — her campaign was less than a week old at the time — Democratic supporters including Representative Nickel, California Representative Ro Khanna, and SkyBridge Capital founder Anthony Scaramucci all spoke about the dangers of making crypto a partisan issue this election season.

Trump claimed during a speech at the event that Harris was “against crypto,” offering her connection to the Biden administration and its policies as evidence.

#professorxchopper

We have left a bad day behind. We can say that the selling wave that started in Japan has gained momentum and has caused sharp movements in crypto assets. Let's take care to follow the transactions calmly during this process. We can say that the worst is behind for global and emerging markets. The worst news comes at the bottom. Again, there may be filling and emptying movements in parallel with short-term shocks. Let's be careful and evaluate the opportunities calmly. $BTC
Good Luck 🚀

#RecessionOrDip? #MarketDownturn #BTCMarketPanic #MarketDownturns #professorxchopper

Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?

Toncoin’s recent bullish momentum has faced a sudden reversal, as the cryptocurrency has slipped back to the critical $6 level. After showing promising signs of a rally, TON faced increased selling pressure, forcing it to retreat to this key support zone.
Currently, the price of $TON on the 4-hour chart is demonstrating a bullish comeback after hitting the $6 mark and is attempting to move above the 100-day Simple Moving Average (SMA) toward the $6.7 mark. This, therefore, suggests that the bulls are gradually gaining strength over the bears and could further drive the price higher. Additionally, an analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line of the indicator after a successful drop below 50%, is currently rising again toward it, suggesting that buying pressure is increasing and the asset might experience further upward movement. On the 1-day chart, although Toncoin is still trading below the 100-day SMA, the price is currently attempting an upward move toward the $6.7 resistance level after a bullish rejection at $6, which means that the bulls are currently gaining control and could potentially push the price higher.

Finally, on the 1-day chart, the RSI signal line is attempting a climb above 50% from the oversold zone, indicating growing bullish momentum for the cryptocurrency.

If there is a bearish takeover and TON’s price breaks below the $6 mark, the cryptocurrency may continue to decline toward the $4.6 support mark. Should the price fall below this support, it could drop further to test the $3.3 support level and continue to lower support ranges on the chart if the $3.3 price target is breached.

#professorxchopper #Write2Earn! #MarketDownturn

Meta AI predicts XRP price for 2025

Notably, Meta’s advanced AI platform has offered a quite diverse potential XRP price range in 2025, “reflecting various expert opinions and predictions,” with those on the lower end suggesting a price target between $0.71 and $0.96 and the more optimistic ones suggesting a range between $0.80 and $4.12. In other words, the Meta AI chatbot expects the price of this crypto asset to grow by 23.93% to 67.56% in 2025 from its current situation – if the more bearish sentiment prevails or to continue increasing by 39.64% to a whopping 619.12% in a best-case scenario. Among the sources of information that Llama 3.1 used to draw its XRP price prediction is AMBCrypto, which suggests a price target of $1.33 by 2025, “based on the overall positive sentiment surrounding XRP in the long term, while analysts at Changelly have set a minimum price target at approximately $1.00.

Furthermore, as Meta AI observed:

“Coin Price Forecast anticipates Ripple’s price to reach $0.46 by the end of 2025. PricePrediction.Net shares a 2025 bullish outlook for XRP, projecting a potential high of $1.00. Margex’s technical analysts speculate that Ripple (XRP) could reach a maximum price of $4.00, possibly reading new all-time highs.”

For the time being, XRP is changing hands at the price of $0.57292, which indicates a 2.42% decline in the last 24 hours but a 23.20% gain across the previous seven days and an accumulated advance of 11.54% on its monthly chart, according to the latest data retrieved on August 12.

#professorxchopper #Write2Earn! #BinanceTurns7

Bitcoin Encounters First Support Level Amid Short-Term Decline 📉

Bitcoin ($BTC ) is currently encountering its first significant support level following a short-term decline, according to data from CryptoQuant. This development coincides with notable liquidations in the market. It also provides valuable insights into the prevailing sentiment among traders. The BTC Longs/Shorts Liquidated Delta is an indicator presented on CryptoQuant that denotes the disparity between liquidated long and short positions on Bitcoin. This metric gives important information of the market trend as to which side is more dominant, longs which mean the bearish side or shorts which represent the bullish side.Analyzing data that have been prepared in the recent past provides several observations worth noting. Bitcoin has retested the start of the first long liquidation region, which is around the $58,250 mark where further stabilization occurred. This stabilization might point at the fact that the market is finding some support at this price level. It indicates that there are some traders who are waiting for this level to enter the market after the downward movement observed over the recent past.

Similarly, funding rates that calculate the cost of being long or short have risen to a slightly negative value, around -0. 00%. Negative funding rate means that retail traders are more willing to open short positions meaning that they think that Bitcoin price may well go lower. These factors create a somewhat complex picture of the current state of the market. From one side, the consolidation around the $58,250 support level may indicate there is a base created for the recent sell-off. Nevertheless, the negative funding rate as well as the rise of interest in short positions means that many traders continue to look for a drop in the Bitcoin price.

#professorxchopper #CryptoMarketMoves #Write2Earn!

Why is Bitcoin price volatile today? 📉

On Aug. 12, $BTC dropped to $57,653, bringing its 24-hour losses to 2%, as traders positioned themselves ahead of a busy week filled with macroeconomic data. The bullish momentum that propelled BTC above $60,000 at the end of last week is in question as bears and bulls fight to control the price.
Let’s look at the factors affecting Bitcoin price today.

▫️ Traders feel unsure about US inflation figures ;

Following the market volatility experienced during the week ending Aug. 11, this week’s US Consumer Price Index (CPI) and Producer Price Index (PPI) prints are expected to reveal the latitude the Federal Reserve has to meet pumped-up expectations around its first interest rate cut in September.The CPI is expected to continue falling, which should empower the Fed to consider the all-important rate cut. Macro market events tend to move crypto prices as they reveal the general state of the economy.

▫️ Bitcoin price has been a “roller coaster” ;

After a relatively calm weekend, Bitcoin’s price action remained flat during the early Asian trading sessions and part of the European session on Aug. 12, oscillating between $58,130 and $59,000. The price then jumped suddenly from $58,140 to $60,000 in less than two hours before rapidly undoing all these gains just before the start of the New York session.The price then jumped up again on the Wall Street opening, rising 5% from a low of $57,834 to set a swing high at $60,700.

▫️ Bitcoin liquidations ramp up ;

A sharp movement in the Bitcoin futures market appears to have caused BTC’s price volatility over the last 12 hours. The timing of the short liquidations coincided with the sharp rise in the price of the pioneer cryptocurrency.Data from Coinglass shows that more than $20.16 million in BTC short positions have been liquidated over the last 12 hours. The total liquidations across the crypto market amounted to $112.20 million, with $61.84 million being short liquidations in the same period.

#professorxchopper #Write2Earn! #MarketDownturn

🚨 Analysis of what causes the crypto market drop?

The crypto market can experience drops due to a variety of factors, often intertwined and complex. Here are some common reasons for such downturns:

1. Regulatory News and Legal Issues
2. Market Sentiment and FUD (Fear, Uncertainty, and Doubt)
3. Economic Events and Macro Factors
4. Technical Factors
5. Security Breaches and Hacks
6. Changes in Key Players or Influences
7. Market Manipulation
8. External Market Correlations

These factors can act individually or in combination, influencing the market's overall direction. Investors often need to navigate these volatile conditions by staying informed and managing risks carefully.

#MarketDownturn #RecessionOrDip? #BinanceTurns7 #MarketDownturns #professorxchopper

🛑 Now you know why Warren Buffett holds a record $277 Billion in cash.
He saw the market selloff.
Berkshire sold over $75 Billion in stocks last quarter.
That's more than any other quarter in its history.
Now he gets to buy at a discount.
Legend.

#RecessionOrDip? #MarketDownturn #BTCMarketPanic #MarketDownturns #professorxchopper