Bitcoin is above $35k. What's going on with the market? đ
Friends, BTC rose to a 1.5 year high. Fear of lost profits is raging in the market, and the latest Bitcoin forecasts are encouraging. For example:
âą Robert Kiyosaki - predicts growth to $135,000 âą Arthur Hayes - $1 million by 2026. âą Standard Chartered - $100,000 by the end of 2024.
đ Why is bitcoin rising at all? It's mostly being pulled upward by rumors of the imminent approval of bitcoin-ETFs. Applications for these funds have been submitted by the world's largest investment companies. For example, BlackRock, which manages $10 trillion. And in general, a spot bitcoin ETF is very much awaited in the crypto world: it will help increase liquidity, trust and availability in the market.
However, so far there is none of this. The SEC (US Securities and Exchange Commission) is rejecting these applications so far. So why is it growing?
â«ïžPerhaps the market senses the near approval of ETFs. For example, the day before yesterday it became known that BlackRock registered its spot Bitcoin-ETF with the DTCC, i.e. the depository. This is a key step before its official launch to the market: it is assumed that BlackRock has started accumulating Bitcoin, i.e. it is preparing for the launch of the fund. It turns out that Bitcoin is once again growing on rumors. And BlackRock, having not launched anything yet, is letting people earn money now.
â«ïžAt the same time, the bitcoin bull cycle is already planned, and the spot Bitcoin-ETF will only add fuel to the growth, as more money will enter the crypto through it.
đ€ So what do we do?
âą accumulate Bitcoin at any price while the world is changing - YES! âą buy it because it is growing now - NO.
It would seem that the cryptoworld keeps winning victories over the SEC: Ripple, Grayscale. However, the U.S. regulator can still continue to hand out denials on ETF applications.
â Are you expecting the price to return to $30k after such a strong growth?
DCA is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of the asset's price. Over time, this approach can reduce the impact of market volatility and lower the average purchase cost.
Binance's cutting-edge Auto-Invest tool embodies this principle, simplifying the process of steadily building your assets. Designed with a user-centric approach, our Auto-Invest platform allows you to nurture a crypto portfolio by investing small amounts consistently. This strategy is perfect for busy individuals with long-term aspirations. Join the millions who trust Binance and let Auto-Invest play a part in your future success.
To consistently grow your portfolio as bitcoin halving is fast approaching,BINANCE Auto-Invest is strategically the gateway to bring it to perfection.#Binance #cryptocurrency #trading
If I would be asked where to accumulate #ETH? It's definitely 1130-1350$ area with some free cash in case we drop to $1k
âïžNot expecting $ETH going lower than $1k (except wicks)
Regards the Mid-Term: we are about to break the confluence of rising wedge & local support, which leads us to dump right into an Accumulation Areađđ€
Trend Reversal: 100 Moving Average on weekly is good at identifying the ones! So below 100 MA we DCA, Above 100 MA we are watching our bags risingđ„đ$ETH #dyor #trading
Spot #BitcoinâŻâŻâŻ ETF approval is likely or may happen before January 10, 2024, as the SEC has not appealed Grayscale's court win and has no basis to reject any spot #BitcoinETF applications!
I found one interesting infographic on Glassnode's Twitter today. It shows how long-term holders are adding 50,000 BTC, or $1.35 billion, to their holdings each month. Holders continue to accumulate bitcoins and thus reduce the liquidity of the market.
đ€ As a result, the number of bitcoins held by long-term investors set a new record of 14.859 million - 76.1% of the available supply. Just imagine - more than 3/4 of all BTC are in the hands of big players. That's a lot.
At first, you might think that this is a negative factor, as they can easily manipulate the price if they want to. But on the other hand, it's not like they're going to drop the price.
đTheir goal is to make as much money as possible, and to do that they will try to pump up the price as much as possible. And this is good for both us and them.
â Would you like more posts with similar on-chain analytics on popular coins?
From CRYPTO TREYSI desk. Binance founder's opinion on BTC halving đ
Hello everyone. Today at his Binance Feed CZ gave his opinion on BTC halving, which is 100% in line with my opinion as well.
đ€ Quote: " The few months leading up to the bitcoin halving (from now), there will be more and more chatter, news, anxiety, expectations, hype, hope, etc. âą The day after the halving, the bitcoin price wonât double overnight. And people will be asking why it didnât. âą The year after the halving, bitcoin price hits multiple ATH (all time highs). And people ask why."
I have previously expressed my opinion on this event and wrote several posts about it. Here is one of them.
đFor newbies: at this point, there are ~6 months left until halving. During this time you need to build a competent investment portfolio and gain knowledge that will help you make money in a bull market. I'm telling you this as someone who has been through several up and down cycles already.
â«ïžDon't be put off by this. Because this 6 months will go by very quickly. And someone will be able to earn a decent capital, and someone will stay in the same place where he was. This is a little motivation from me. #BTC #CryptoTalks $BTC
Today I analyzed tokens that showed good growth in the last cycle. The main conclusion from this: there is no point in accumulating "dinosaur projects".
đ€ The selection criteria I applied are:
1) Duration of creation 76% of projects appeared in the last cycle (19-20 years), and only 24% of them went public in the previous cycle of 2017. Thus projects created in bear market and at the beginning of bull cycle were more likely to go public.
2) Project focus L0/L1/L2, GameFi/NFT/Metaverse, DeFi and meme-coins were the coins with the highest probability for X100+ growth. However, projects (L0/L1/L2) is the category that made x100 more than the others
â«ïžGameFi and meme coins quickly made X on the hype. However, it's not certain that this will be true for the next cycle. L0/L1/L2 are the fundamental blockchains of entire ecosystems, it makes sense to invest in this area.
3) Momentum of Entry Although many X100 projects were created during the 18-19 bear market, for 90% of tokens the best entry point was the March 2020 covid dump
â My main strategy now is to hunt for new and promising L0-L3 blockchains. In case you suddenly don't know what it is, you can look up my next post.
No doubt ,Bitcoin will be at the forefront of next bullrun đ.considerably, most small investors are looking out for meme coins with great potentials to make them millionaires in the next bullrun..#memecoin. currently, these are fewer meme coins thus far with such potentials.
âšDo not trade borrowed money âšDo not trade in bad mood âšTake what market gives you âšRespect risks âšDo not grow a loss âšDo not average a position âšDo not get upset âš2-4 hours is your work day âšFollow the plan âšDo not enter without signal âšTake â is your friend âšPrice won't come back âšDo not live in the market âšHave no illusions in the market âšDo not relax while successful âšMarket is always right âšAppreciate your close people âšHave a hobby
Yes, down below are common ideas that have been in crypto since its inception ,but yet you often time neglect its simplicity to make you money due to lack of patience and trust.
1.Research ( knowing the project you're about to invest your money on is as good as knowing the value of your hard earned money)
2. Technical analysis ( Having technical analysis idea is huge flex đȘ and give one balance while making decisions)
3. patience ( this is key that opens doors of opportunities, cristal clear in more winning intended look.
4.Spot buying ( yes, as simple as it sounds,spot buying plays major roles in these ideas, in keeping investor/trader cool,push down emotion and reduce any sort of impulsive decision that could terminate a given opportunity.
so,in a nutshell, research a good coin and run a technical analysis on it to determine a buying opportunity while patiently wait for it to go in your direction to take profit.(remember rule Num.1,buy low,sell high.buy into support and sell into resistance)
Okay,why I said "low risk" is because if the purported purchased coin does not go in one's direction in short term, chances are it will during bullrun.
Although,in crypto space, everyone can not stick to a particular idea to make it,but above are part of simple winning ideas and that give me rest of mind. you can do yours and trust the process,as these shouldn't be construe as financial advice. #CryptoTalks
Inability to break and close above it will invalidate the upward movement trajectory. However, a rotation back to 26k support zone will indicate some weakness and having bear in control while the chart prints a H&S pattern.