#Bitcoin #Ethereum

Ethereum’s fundamentals in November 2024 remain robust despite recent market fluctuations. The cryptocurrency’s ecosystem is seeing significant developments that underline its long-term potential:
1. Layer-2 Scaling Growth: Ethereum’s Layer-2 solutions, such as Arbitrum and Optimism, have reached record highs in Total Value Locked (TVL), currently exceeding $16 billion. This reflects increased adoption for lower-cost and faster transactions on Ethereum’s network  .
2. Upcoming Upgrades: The anticipated “Dencun” upgrade, planned for early 2025, will include EIP-4844 (proto-danksharding), significantly improving Ethereum’s scalability by reducing Layer-2 gas fees. This is expected to boost network activity and adoption .
3. Real-World Asset Tokenization: Ethereum continues to lead in tokenizing traditional financial assets, bringing more real-world use cases to the blockchain. This trend aligns with growing institutional interest in on-chain financial products .
4. Spot ETF Approval Prospects: Analysts anticipate the approval of a spot Ethereum ETF in 2024, following Bitcoin’s lead. This could bring new institutional investors and liquidity to the market, potentially driving Ethereum’s price higher .
5. Current Market Performance: Ethereum’s price in mid-November 2024 hovers around $3,200, with predictions of moderate growth by year-end. The asset has more than doubled in value since mid-2022 lows, underscoring its resilience despite broader crypto market volatility  .

These factors position Ethereum as a strong player in the cryptocurrency space, with significant potential for growth in adoption and network utility.

#Bitcoin

Bitcoin has been on a downtrend recently, reflecting the inherent volatility of cryptocurrencies. Declines can be driven by a variety of factors, including:

1. Macroeconomic factors: Changes in interest rates or central bank decisions that affect risk assets.
2. Regulations: News of potential restrictions or regulations in key markets (such as the US or Europe) often have a negative impact.
3. Market sentiment: Movements by large investors (whales) and overbought or oversold levels in technical analysis.

If you are considering trading, you might focus on key support and resistance levels to identify potential entry or exit points. You might also keep an eye on macroeconomic factors that affect overall investor sentiment in risk assets, as these elements are often key to price action.

#Bitcoin

Bitcoin has experienced a recent decline, partly influenced by macroeconomic factors, such as uncertainty in global markets and the monetary policy of several central banks that affects liquidity and appetite for risk assets. In addition, there is a natural cycle of correction after several previous rises.

Note:

We will have a correction before the bull rally!

#MyFirstSquarePost :

Note:#BITCOINis going down

I share my analysis with 3 possible sales and 3 possible take profits.

Fasten your seatbelts, this roller coaster is going to fall to 64k in the next 48 hours.

PS: don't forget to set your respective stop loss.

Champagne please!