As I explained in this article in detail, (see below), there's a natural cycle of up and down with BTC and on average , its always up, so DON'T PANIC when prices fall.
While Bitcoin’s volatility may seem very intense, this (expected) correction is healthy and normal. Check my previous posts and I (like many others) predicted this! $BTC price is down over 12% from its all-time high and its critics are taking victory laps this week (seriously , they never learn) bitcoin has plummeted all the way back to… $97,000. (They did the same when BTC fell to 30k, then 40k, then 50k etc from heights.. ) It is still practically almost $100,000 for a single bitcoin. 1 BITCOIN. Let that sink in! It is crazy to me to think that the “dip” is back to just under that important milestone, and really shows how far this asset has come over the last 16 years. Year-to-date, bitcoin is up over 120%. And by historical trends, it is entering into its third year of rising in price before having a large correction. So this tells me that bitcoin isn’t done pumping yet, it’s just taking a breather before its next leg up. This is a healthy pull back and the only thing you should be worried about is stacking more bitcoin today than you had yesterday. It is more important to learn the fundamentals of Bitcoin and understand this new asset class than to worry about what the price of bitcoin does on a day to day basis. Bitcoin is a wild beast and will have downturns just as hard as it swings up. This volatility, even the downturns, are a good thing for many reasons – it creates opportunities. Especially for new bitcoiners to take advantage of stacking bitcoin at cheaper prices than when they originally got in. Whenever you’re in doubt, it’s always important to zoom out and see the trajectory that bitcoin is on. Bitcoin has two possible scenarios it will experience: Bitcoin will fail and go to $0.Bitcoin will succeed and reach a price range in the millions and beyond. I think Bitcoin has proven itself that it will not fail, so option number 1 here is not on the table. Meaning option number 2 is what is more likely to happen. And if option number 2 is going to happen, then well, you should stack more bitcoin on every downturn.
While Bitcoin’s volatility may seem very intense, this (expected) correction is healthy and normal. Check my previous posts and I (like many others) predicted this! $BTC price is down over 12% from its all-time high and its critics are taking victory laps this week (seriously , they never learn) bitcoin has plummeted all the way back to… $97,000. (They did the same when BTC fell to 30k, then 40k, then 50k etc from heights.. ) It is still practically almost $100,000 for a single bitcoin. 1 BITCO
Over the past week, Bitcoin (BTC) has experienced notable volatility, reaching a new all-time high of over $106,000 before declining to approximately $99,600.
Technical Indicators:
Moving Averages (MAs):
Short-Term (5-Day): BTC is trading below the 5-day MA of $103,200, indicating recent bearish momentum.
Medium-Term (20-Day): The 20-day MA stands at $98,696, suggesting that despite the recent dip, the medium-term trend remains positive.
Long-Term (50-Day): The 50-day MA is at $84,967, reflecting a strong upward trend over the past two months.
Relative Strength Index (RSI): The 14-day RSI is at 60.37%, indicating that BTC is neither overbought nor oversold, but closer to overbought territory.
Stochastic Oscillator: The 14-day %K value is at 63.36%, suggesting moderate bullish momentum.
Support and Resistance Levels:
Support: Immediate support is around $98,000, which has been tested recently.
Resistance: The next significant resistance is at $104,000, a level that BTC has struggled to surpass in recent sessions.
Recommendations:
For Short-Term Traders: Given the current volatility and the recent dip below the 5-day MA, caution is advised. Consider waiting for a clear breakout above the $104,000 resistance before entering new positions.
For Long-Term Investors: The overall bullish trend, as indicated by the 50-day and 100-day MAs, suggests that holding positions could be beneficial. However, be prepared for potential short-term fluctuations.
Conclusion:
While Bitcoin has shown impressive gains recently, the current technical indicators point to a period of consolidation. Monitoring key support and resistance levels, along with technical indicators like the RSI and moving averages, will be crucial in making informed trading decisions.
Check my last posts , my predictions have been consecutively correct. Told everyone markets will fall!
even though the US Feds decreases interest rates by 25 bases points, it wasn't enough to stop the massive liquidation . US stock market lost 1.5 Trillion in a day !
and now Our crypto is somewhat correlated to that..
Also, this is a GOOD buying opportunity
$BTC is very attractive under 100k
Also check out KASPA (KAS) (its not on Binance yet)
WBETH Reaching a New All-Time High, Increase of 4.70% in 24 Hours
On Dec 16, 2024, 18:42 PM(UTC). according to Binance Market Data, WBETH has achieved a new all-time high, trading at 4,310.76 USDT. The 24-hour increase of 4.70%
As crypto markets remain broadly bullish in the run-up to the year-end holidays, several airdrops provide exciting opportunities to earn tokens without any initial capital.
Airdrop farmers looking for top campaigns with tier-one investor backing have a long list to select from.
Lisk
Lisk has launched an airdrop campaign, announced on December 14, with a prize pool of approximately $15 million in Lisk tokens. The project boasts over 200,000 followers on X (formerly Twitter), including notable figures like Circle founder Jeremy Allaire and crypto czar David Sacks.
Participants earn points by completing tasks, which are later converted into LSK tokens. Accessing the campaign requires joining the Guild and completing a proof of humanity. Currently, only 15,000 participants have joined. Additionally, rewards can be enhanced by completing super tasks, such as collaborating with more of the project’s partners.
Polyhedra Network
This is a potential airdrop, coming after Polychain Capital and Binance Labs co-led a fundraiser that raised $45.04 million. Other participants include HashKey Capital, Animoca Brands, and OKX Ventures.
The project also launched a new network called EXPchain. Airdrop participants who test this new can qualify for another potential Airdrop from the project. Based on the project’s tokenomics, Polyhedra has another 7% of tokens allocated to Community, Airdrop, and Marketing.
Although the rewards for the EXPchain activity are unlikely, it may be reasonable to test the network. Polyhedra Network is also rewarding ZKJ stakers by airdropping Solana-based meme coins.
“We are kicking off a Community Joint Proposal to reward ZKJ stakers. We will be airdropping Solana memes to our community members with all rewards airdropped paid for by our Foundation,” said Polyhedra.
Mind Network
ind Network, an FHE-based voting infrastructure securing $15 billion in assets, plays a key role in enabling secure network consensus. Following a $12.50 million fundraiser with backing from Binance Labs, HashKey Capital, and Animoca Brands, Mind Network has announced its airdrop.
The project also launched the Citizen Z campaign, allowing participants to claim periodic encrypted rewards in vFHE. Users can delegate for maximum benefits in MindV tokens. Notably, those who previously participated in the Mind Network testnet may be eligible for a portion of vFHE rewards. For others, vFHE can be earned by completing tasks on Galxe.
“If you actively participated in our testnet before June (including past Testnet campaigns) — you’re eligible for a certain amount of vFHE reward,” Mind Network said.
Rivalz Network
This blockchain infrastructure project raised $26.96 million through multiple tiers fundraisers. The fundraisers were co-led by Delphi Ventures, Magnus Capital, D1 Ventures, and Gate.io. According to the project, if you used NodeOps while participating in the incentivized testnet from Rivalz Network, you qualify for airdrop from this project.
“To be eligible for the Wave One NODE Claim, you must be an existing NodeOps user. Tokens will be non-transferable until the Mainnet launch. If you missed out on Wave One, no reason to worry. Wave Two will introduce a new points system and exciting Testnet opportunities, powered by Atlas Network,” NodeOps shared.
Further, Rivalz Network also announced the launch of 3 epochs of rewarding testnet, which will total 5. Its token generation event (TGE) is expected in the fourth quarter (Q4) of 2024. The activities remain the same, so participants can use the initial guide. Additionally, the project resets points and converts them to RIZ tokens after the end of each epoch.
Superform
Superform is a decentralized finance (DeFi) project that raised $9.5 million from Polychain Capital, Circle, and VanEck, among others. Angel investors include BitMEX co-founder Arthur Hayes and LayerZero Labs co-founder and CEO Bryan Pellegrino.
It is also worth mentioning that Season 2 of the Superform Safari campaign has started, with interested participants asked to deposit to one of the vaults on Superform to earn CREDs (points).
“More deposit amount – more points. The campaign will run until April 20 [2025],” the announcement read.
Depending on how much CRED a participant accumulates by the end of the Season, they may qualify for a SuperFren NFT.
Gasp
Gasp raised $10.60 million in a fundraiser led by Polychain Capital, among others. As of the last round, the project’s valuation was $80 million. The status of the airdrop is confirmed, and with it, Gasp.xyz announced Gasp V3, the final testnet iteration of its decentralized exchange (DEX) protocol.
“V3 consolidates critical enhancements to deliver fast, gas-free, and secure cross-chain swaps across Ethereum and Arbitrum,” the project stated.
Additionally, Gasp announced its TGE on December 16. Before TGE, they launched another campaign on Galxe, in which participants completed tasks to earn NFT. This is the last activity before the airdrop.
Sahara AI
Blockchain infrastructure project Sahara AI is also among the top crypto airdrops to hunt this week after announcing a new product launch due on December 18. Against this backdrop, they have released another form that we can fill out to get on the whitelist.
“Something big is happening on December 18th,” Sahara AI said.
The Waitlist form is just one of the first activities of the Sahara project. In the future, the project will launch a testnet, with the waitlist form potentially a pass to the early stage of the testnet. The project boasts up to $43 million in funds raised from players such as Polychain Capital, Pantera Capital, Binance Labs, and Sequoia Capital, among others.
Xterio
GameFi project Xterio is also a key airdrop to watch for the third week of December after launching a new campaign named The BeFriend AI web. The airdrop offers participants a chance to earn XTER tokens, with participation involving inviting friends, interacting with AI, and completing tasks for points.
“The points will be converted into XTER tokens. The campaign will run until December 27,” the project noted.
These developments come after Xterio raised $55 million in a fundraiser in which Binance Labs, HashKey Capital, and Animoca Brands participated.
The launch of $VANA has been delayed by 90 minutes , and Binance has given no reason why !
Binance has announced a delay in the trading launch for Vana, originally scheduled for December 16, 2024, at 10:00 UTC. The new trading start time has been set for December 16, 2024, at 11:30 UTC.
The reason for the delay has not been officially disclosed by Binance. However, it is possible that the delay is due to technical difficulties or unexpected market conditions!