People said I'm a fool who choose to invest most of my wealth in bitcoin & BNB. since 2019. I would love to see what future hold in the next decade :2029.
Fed Won’t Hold Bitcoin or Push for Strategic Reserve, Says Jerome Powell
Jerome Powell confirmed the Federal Reserve cannot hold Bitcoin, leaving the decision to Congress. Though some lawmakers and President elect Trump support a U.S. Bitcoin reserve. Powell’s comments caused Bitcoin to drop 5.7%, with other major cryptos also losing value, and the stock market reacted negatively.
Powell Says No to U.S. Bitcoin Reserve
Jerome Powell Fed Chair has made a point during a press conference that the U.S. central bank is not allowed to hold Bitcoin. He explained that according to the Federal Reserve Act, there are rules about what the bank can own, and Bitcoin is not part of that.
He also stated that the Federal Reserve is looking for something other than a law change by leaving the decision to Congress.
“We’re not allowed to own bitcoin. The Federal Reserve Act says what we can own, and we’re not looking for a law change. That’s something for Congress to decide, not the Fed.”
These statements came after questions about the possibility of the U.S. government building a Bitcoin reserve, similar to how it holds gold.
Powell stressed that any decision on the U.S. government holding Bitcoin would be up to Congress and not the Federal Reserve. He clarified that the central bank is interested in something other than getting involved in Bitcoin or changing its laws.
Despite Powell’s firm stance, there has been growing interest in Bitcoin as a potential asset for the U.S. government to hold. Trump has supported the idea, suggesting that the U.S. should not fall behind other countries in the global crypto race.
Some pro- crypto senators including Senator Cynthia Lummis from Wyoming, have been pushing for this idea. Lummis has even drafted a bill requiring the U.S. Treasury to buy one million Bitcoin over the next five years.
President-elect Donald Trump has also supported the idea of the U.S. creating a Bitcoin reserve, saying the U.S. needs to stay ahead of countries like China by embracing digital currencies.
Market Reaction to Powell’s comments
After Powell’s comments, the cryptocurrency market reacted quickly. Bitcoin dropped to $100,300 which is down about 5.7% over the past 24 hours. By the time of the press release, Bitcoin was trading at $100,740.
The cryptocurrency market also fell. Ethereum fell by 6.8%, Binance Coin (BNB) dropped by 4.6%, and Solana (SOL) by 8.1%. Dogecoin (DOGE) performed the least among the top 10 positioned tokens which is dropping by 11% to $0.348.
The stock market also equally reacted negatively to Powell’s comments. The S&P 500 closed with a loss of 1.55%, and the Nasdaq 100 dropped by around 2%.
These show how market is reacting to the news about government policies, especially when it comes to cryptocurrencies like Bitcoin. Powell’s stance on not supporting a Bitcoin reserve created uncertainty among investors and also, they quickly adjusted their positions by selling.
Jerome Powell’s comments made it clear that the Federal Reserve is not interested in holding Bitcoin or supporting the U.S. Bitcoin reserve. The market’s reaction showed how Bitcoin and other cryptocurrencies are dependent from investors and policymakers.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
$PENGU use binance user as exit liquidity BEWARE ! 🚩🚩🚩
how binance is actually okay with this scheme?
so, how have you been today? did you bought $PENGU today? then you are the subject of this scheme! PUDGY Penguins team "use" binance and all its token buyer as exit liquidity. Its developers, its pudgy NFT holder and its network all going rich because they got 1.7 M $pengu for 1 NFT. not only that for old ETH and solana wallet also got chance to get free token airdrop just by doing nothing
so the token will be looks like scammed token. hundred thousands holder will dump their token on CEX and no big investor will collect it. cause it got no value.
$PENGU use binance user as exit liquidity BEWARE ! 🚩🚩🚩
how binance is actually okay with this scheme?
so, how have you been today? did you bought $PENGU today? then you are the subject of this scheme! PUDGY Penguins team "use" binance and all its token buyer as exit liquidity. Its developers, its pudgy NFT holder and its network all going rich because they got 1.7 M $pengu for 1 NFT. not only that for old ETH and solana wallet also got chance to get free token airdrop just by doing nothing
so the token will be looks like scammed token. hundred thousands holder will dump their token on CEX and no big investor will collect it. cause it got no value.
How rich are you if you DCA BNB token vs Bitcoin for 5 years straight?
Okay, i believe there are many stories has been written about someone regrets didnt buy bitcoin in the 2011 or didnt hold until now.
but its too way to far back in the past. Lets now we take the data for the past 5 years. and I will present it easily. The concept is we just need to buy either bitcoin or BNB every January 1st! here are the data breakdown if you have done the dca once a year for only 1000 $ for the past 5 years. (at least 1 bitcoin halving cycle)
if you ever read the whitepaper, the total supply is still the same 4B token. so worry not about the notice on binance marking.
the total supply will not suddenly flock into the circulation, but gradually until the next 5 years depend on how many RWA assets are converted in $USUAL platform to get USD0 and usual come as rewards.
its not easy to get those token produced, and circulation will not increase suddenly.
so worry not and dont missunderstand about the binance notice on the spot trading.
based on experience after suspend is open, and traded on spot it will start with a pump.
As we know $USUAL is the latest launchpool token drop that was given free for hodler in binance launchpool
As its pumping since then.
But dont you have a curiosity about this Token and want to look for more info before putting some USDT?
The live price of Usual is around $ 0.292895 to $0.3 per ($USUAL / USD) with a current market cap of $ 144.87M USD. 24-hour trading volume is $ 21.53M USD. (28 Nov 2024) $Usual surge +21.10% in the last 24 hours with a circulating supply of 494.60M Total sup
Rumor : X payment might use $XLM $XRP $HBAR or $DOGE
Recently the emerge of X payment by Elon musk have been rumored that Elon musk will soon launch its payment system as global payment that backed by blockchain for fast and robust financial payment system.
Some fact found that spaceX have collaboration with vast space which founder is Jared McCaled (ex $XRP co founder and now the Stellar Lumens $XLM founder
While $doge are elon favorite meme coin, but seems elon is not seriously engage with the
When you saw this. $PNUT is falling from 1.2 to 1.1 USDT. Its because of the sentiment and the urge of sales since PNUT has been trade lower day by day for the 3 consecutive days. It made the holder (which is an opportunist) sweat, and forget to became a golden hand.
But as trader, what opportunities you can take from this falling trend?
Short in futures $PNUT
It might risky but you might have a chances to win back all your loses on spot.
But make sure you understand all the risk before trying to go with this.
But whenever you see a lot of people fear you go south and pick short on futures.
Yeah couple days ago in crypto conference on 18 Nov 2024, scottie pippen that on the stage wiyh michael saylor said 2 things that actually show it might be a big lies, stating he lucky enought to met satoshi back in 1993. Well satoshi at that time prolly still not into making the crypto or got the idea yet.
Its prolly just a promotion words since scottie are promoting his project.
Pippen's project called BALL which tokenized the ball the Chicago Bulls used during the history-changing 1991 NBA Game 5 championship.
Pippen also said satoshi came to his dream and said about bitcoin reaching 84.5k on nov 5.
Well well pippen seems a little bit delusional, some people dream meeting GOD, or meeting God so, why can someone like pippen claim meeting satoshi?
Luckily Pippen not saying that he was the one that gave the ideas to build a bitcoin to satoshi.
WHAT Time is the right time to invest in Bitcoin for Newbie?
Yes, the topic is for newbie in crypto that always ask what to invest without learning anything about crypto.
The simplest keys is 1. What : Only invest token like $BTC $BNB $ETH 2. When : when you see your friend that invest in crypto are shut, never talk about his crypto again, and when you ask, he said his investment are halves. Just like the picture below. Buy at that time and never open the CEX app again. 3. HOW long : invest at least 4- 5 years to get at least 1 bitcoin halves cycles + 6 months
Recently lot of noobs or troll coming into binance square either capturing his peanuts balance and ask what should i invest or a screenshot of PNL loss asking "shall i hold?", "help me!"
That kind of posts are really irritating,
Why?
If you choose to do investment in crypto / blockchain,make sure you learn first, not posting when youre down or asking for what to invest in binance square.
Make sure to learn at least 3 ways to read charts, read the tokenomics, how to use chart indicator,
Learn! Dont post silly thing asking something from strangers what to invest. Are you ready to be their exit liquidity?
And one thing for sure Make sure you can bear all the lose that you gonna invest in crypto market.
If youre new,invest only at maximum 5 major tokens that you can see on the top 10 of coinmarket caps website. Thats it. $BTC $ETH $BNB $XRP
If youre pro? You will not posting something that i mention above :)
Well binance seems now have published an unlikely pump and dump $SOL based meme token and the market react it bullishly especially for $PNUT how long it will be going to moon? Last time i checked the market cap for PNUT has been #47 position with 2.3 B US$ as its market cap so far. All the token supply are in circulation.
Potential :
If this PNUT the squirrel could go up and reach the fame just like the $PEPE with 9.1B market cap, then PNUT still can have 4x increase from 2.3 US$ to around 9.2 US$
If you have 1000 $ you could get maximum 4000 $ by end of november. But this is just a bullish prediction not something that i encourage you to buy. I have bought some and buy and sell it daily to make sure i could get the righ profit goal.
The Federal Reserve's decision to cut interest rates from 5% to 4.75% is expected to have a range of impacts on the economy:
🔥Positive Impacts:
Stimulates economic growth: Lower interest rates make borrowing cheaper for businesses and consumers, encouraging spending and investment. This can boost economic activity and job creation.
Boosts the people desire to join stock market or crypto market: Lower interest rates often lead to higher possibility to seek more options to earn money as investors seek out higher returns in a low-interest-rate environment.
Reduces debt burden: Lower interest rates reduce the cost of servicing debt for businesses and consumers, freeing up more money for spending and investment.
Strengthens housing market: Lower interest rates make mortgages more affordable, stimulating home buying and construction activity.
Weakens the dollar: Lower interest rates can weaken the dollar relative to other currencies, making imports more expensive and potentially fueling inflation. People might buy and keep a better asset just like $BTC or $PAXG (gold)
Overall, the impact of the Fed's rate cut will depend on a variety of factors, including the state of the economy, inflation expectations, and global economic conditions. But most of the time, more cuts means more money 💵will out into circulations.
i posted on my X account on 5th July 2024 to keep at momento where i believe it was time to buy n hold. got 75 views on X but not sure whether they bought any of the tokens. if they did, its surely earning around 25 % now.
how you can check when to buy and sell? learn from history and use the indicator when buy n sell.
btc is started to get the bullish momentum, but it might be a trap, secure some profit first.
also you could see that alt coin are not moving right up together with bitcoin why? its mean its too much shitty coin or alt coin that doesnt bring value or using burning mechanism to make the token rarer.
for now, whichever alt coin that rise take precaution to take profit.