General outlook of the cryptocurrency market | July 17 🟢 M | Crypto De Nostradame on Binance Square

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Bullish

General outlook of the cryptocurrency market | July 17
🟢 Market capitalization: 2.51 trillion dollars (+4.39%)
🟢 BTC dominance: 51.38% (+0.08%)
⚡️ Fear and Greed Index: 69 (greed)

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Big disappointment: Hamster Kombat (HMSTR) dropped by 76 percent! The Telegram game Hamster Kombat, which swept through a period, is slowly being forgotten. Hamster Kombat, which reached 300 million users during the airdrop craze, has fallen out of favor in recent days. The game's token $HMSTR , which was traded at $0.009993 on September 26, quickly fell to $0.002392. The token, which lost 76 percent of its value in total, disappointed both players and investors. In addition, the number of active players dropped to 41 million. The reaction of players and investors is increasing day by day. Many players in Nigeria stated that they were treated unfairly due to the problems in the airdrop system and the game's new anti-cheat system. According to the report published by Hamster Kombat, 2.3 million users were banned and 6.8 billion HMSTR were confiscated. Naturally, the developments led to a reaction from players. As of the writing of the news, $HMSTR , which is trading at $0.002374, has a market value of $152.83 million. Its last 24-hour volume is $22.74 million. Having lost nearly 80 percent of its value since its ATH, HMSTR may be subject to more selling pressure if it cannot maintain $0.002000 as support. The re-trending of Telegram games, the increase in the number of players in Hamster Kombat or the rise of the altcoin market may push HMSTR to even higher levels. In such a scenario, it may first target $0.003000. Weekly closes above this level may lead to a movement towards $0.005000. These levels will play a critical role both technically and psychologically. #CryptoDeNostradame #ParrotBambooCrypto

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Crypto billionaire Novogratz: “Bitcoin will rise very quickly” Galaxy Digital CEO Mike Novogratz stated that the Bitcoin price will continue to rise after the US presidential elections. Speaking to the Unchained YouTube channel, Novogratz predicted that Bitcoin (BTC) will start a new bull cycle regardless of who wins the US presidential elections. The famous CEO emphasized that the bull cycle in question will be delayed if Kamala Harris wins. Novogratz noted the following: “I think if Trump wins, we will exceed $73,000 and rise much faster. If Harris wins, we will probably fall below $50,000 and then rise rapidly.” Although Galaxy Digital CEO Mike Novogratz remains positive about the crypto market, he is concerned about the US’s financial situation. Novogratz believes that the only way out for the US to pay off its record-high debt is to devalue the dollar. The CEO of the mining giant thinks that the activity in question could work, but it could trigger inflation. Novogratz made the following statements: “To clarify my macro view, I think the US has a very low chance of recovery. The best we can hope for is to have talented people in the necessary positions who can keep inflation between 4% and 5%, prevent it from accelerating, and prevent debt from swelling.” According to Novogratz, the steps the US will take in economic terms will attract investors to the crypto market. Expectations of protecting assets against inflation and evaluating assets could trigger the rise of the crypto market. The US national debt, which Novogratz emphasized, has exceeded $ 35 trillion. Economists think that the US will have to resort to monetary easing in the near future. According to CoinGecko data, $BTC recorded a trading volume of $ 36 million in the last 24 hours. #CryptoDeNostradame #ParrotBambooCrypto

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Bitcoin (BTC) bullish: Mining activity breaks records. Bitcoin mining companies Marathon Digital and Riot Platforms have reached their highest monthly $BTC production figures since the last halving. The development in question points to a strong recovery after miner rewards were cut in half. Marathon announced that it produced 717 Bitcoins worth $ 48.8 million in October. The company attributed this increase in production in part to the 14 percent increase in the hash rate, which exceeded 40 exahashes per second. Marathon CEO Fred Thiel drew attention to this situation in a statement he made on November 4. Thiel stated that high transaction fees in October also increased Marathon's total Bitcoin production, and said that these fees accounted for approximately 5 percent of production. Marathon stated that it achieved this success despite experiencing a 3 percent decrease in block gains due to increased network difficulty. Despite these strong monthly production figures, Marathon (MARA) shares lost 3.79 percent and Riot (RIOT) shares lost 4.87 percent on November 4. This data was revealed by Google Finance. Riot plans to increase its hash rate to 34.9 EH/s by the end of 2024 and reach its goal of 100 EH/s by 2027. This goal is thought to be possible if the company fully exercises its option to purchase more MicroBT miners in the future. However, Riot’s 34.9 EH/s estimate has recently decreased from its initial target of 36.3 EH/s due to the slower-than-planned expansion of its Kentucky facility. On the other hand, Marathon stated that reaching its target of 50 EH/s hash rate before 2025 is still possible and “in sight.” #CryptoDeNostradame #ParrotBambooCrypto

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Is the outlook still positive in Bitcoin? Although the Bitcoin price fell below $ 70,000, it was seen that existing investors maintained their faith. It was seen that the Bitcoin ($BTC ) price fell to $ 67,000 due to the impact of the US presidential elections. The leading cryptocurrency experienced a potential pullback as Kamala Harris increased her chances of winning. It became a matter of curiosity whether Bitcoin supporter Donald Trump could win the elections. BTC, which tried to rise above $ 70,000 several times, could not break the potential resistance levels. While the upward momentum in BTC was lost, investors' hopes for a bull run did not fade. AMBCrypto wrote the latest outlook on Bitcoin. In the analysis, it was emphasized that new investors should be included for the bullish market. CryptoQuant analyst CoinLupin commented on Bitcoin's MVRV (Market Value to Realized Value) cycle. The analyst used the following statements; “As we approach the major events in November, the MVRV ratio offers a traditional analytical approach to assessing the price of Bitcoin.” The MVRV ratio, which is at 2, reflects the on-chain value estimate of Bitcoin’s market value. MVRV is above the annual average. The ratio in question points to a potential bull cycle. CoinLupin stated that many indicators are used to better understand Bitcoin’s cycles. According to the analyst, tools such as the 365-day Bollinger Band and the four-year average also confirm the potential rise. The analyst stated that the MVRV ratio should be between 3 and 3.6 for a full-fledged bull cycle to occur. According to the analyst, $BTC could exceed $95,000 if the conditions are met. #CryptoDeNostradame #ParrotBambooCrypto

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These altcoins are gaining strength: Early celebration in the US elections. Fwog (FWOG) One of the newest players on the Solana blockchain, Fwog (FWOG) was the fastest-rising altcoin of the day. The frog-themed memecoin, which quickly went viral, rose by 22.2 percent in the last 24 hours. According to CoinGecko data, FWOG recorded a trading volume of $28 million in the last 24 hours. FWOG's market value exceeded $369 million. Mask Network ($MASK ) Socialization and Web3 platform Mask Network (MASK) made a remarkable rise. Aiming to create a decentralized network, MASK increased by 17 percent in the last 24 hours. The project, which claims to be a rival to Facebook, was one of the fastest-rising altcoins of the day. MASK recorded a trading volume of $434 million in the last 24 hours, reaching a market value of $285 million. Nosana (NOS) Nosana (NOS), which focuses on artificial intelligence and GPU hardware, became the third highest-rising altcoin of the day. GPU technology, which gained popularity with Nvidia, contributed to Nosana's prominence. The popular altcoin rose by 15 percent in the last 24 hours. NOS, which has a market value of $ 275 million, recorded a trading volume of $ 6.8 million in the last 24 hours. Dogecoin (DOGE) Dogecoin ($DOGE ), the largest memecoin by market value, rose by 11 percent in the last 24 hours. DOGE, which was included in Elon Musk's statements in the US election campaign, managed to come to the fore on election day. The popular memecoin was at the top of the day. DOGE, which recorded a trading volume of $ 3.65 billion in the last 24 hours, has a market value of $ 24.67 billion. Mog Coin (MOG) One of the most popular memecoins of 2024, Mog Coin (MOG) has climbed to the top by increasing by 11 percent in the last 24 hours. MOG, inspired by the laughing cat emoji, has made a rapid recovery after the recent decline. #CryptoDeNostradame #ParrotBambooCrypto

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