Political news that may cause major changes in the cryptocurrency world in September
🚨Stocks fell sharply in New York as concerns over a U.S. recession intensified.
- The Dow Jones ( DJI ) fell 1.56% - The S&P 500 ( SPX ) fell 2%
- The Nasdaq ( NDX ) fell 3.57%.
Tech stocks have been hit particularly hard. 📉 - Chip giant Nvidia (NVDA) lost a significant amount of market value as its shares fell 9.5%. Broadcom, Qualcomm and Micron also saw sharp declines.
‼ ️Weak manufacturing data, especially the PMI (Purchasing Managers' Index) which was still below expectations, rekindled market concerns about the US economy.
The best low-risk memecoin to buy this month, which can yield at least 3x returns in 90 days.
1) $Cat Target -> 0.00008 USD
Cat Token is an officially recognized memecoin and the first big cat memecoin to be launched on BNB Chain. The iconic brand is fully backed by intellectual property (IP) and aims to contribute to initiatives related to rescuing and feeding cats around the world.
Simon's Cat, based on the beloved British animated series created by Simon Tofield, has been viewed over 1.6 billion times on its official YouTube channel and even more across social networks.
The project aims to establish the brand’s influence in Web3 while also contributing to global cat feeding and rescue initiatives.
▪️The hourly candle will not close above the 0.5 Fib ($58.485) resistance, forming a partial negative structure. To turn positive, it will definitely need to rise above $58.788 and then close the 4-hour candle above the red box.
▪️If $59,000 - $59,500 is gained; the short term resistance ($59,824) will be the key price in our target. A real positive structure emerges above this price!
▪️The movement below the grey box supports the downtrend, the previous price of $57,100 was broken and the bottom is expected. In the process, the liquidation area, the buyer area of $56,000 - $53,000, should be followed.
5 Strong Coins to Watch in September with Stable Charts and Amazing Monthly Closes
I have prepared 5 coins for you. With stable charts, amazing monthly closes, strong market momentum and amazing fundamental growth.
Tokens to watch in September 2024
Note! [Not my personal list] --- The market made this list
Well…first let go of the bearish bias because we have been wrong a lot in this cycle and we may be wrong again…one thing markets mainly do is go against popular bias so I would not be surprised if we have a bullish September. Now, let's assume that this scenario will lead you to a bullish month. In this case, should we think that all our wallets will rise quickly? No, stop imagining, brothers... No currency will rise based on assumptions. Only those currencies that create a strong social demand based on data, fundamentals or atmosphere are likely to rise.
The global collapse has begun! How to deal with the big crisis in 2024? (Cryptocurrency and overall market analysis)
The overall selling trend is that cryptocurrencies will have a downward trend until August, and we have to collect them in these areas. In fact, most people are already profitable by trading during the intermediate rise, but what I don’t understand is:
I started collecting from the so-called bottom (!), I bought in the demand area, but I saw that it fell even more, that is, between 10% and 20%, altcoins lost sales, and all the data were partially positive! What happened?
August 5th Crash: The Beginning of a False Spring
On August 5, 2024, Asian markets suddenly collapsed, quickly affecting the global economy. Federal Reserve Chairman Jerome Powell warned that interest rate cuts could weaken the economy, which became a precursor to the crisis. The "likely weakening" mentioned by Powell was actually the root cause of the violent collapse in a short period of time.
The first interest rate hike signal in September will be announced tonight. Will we enter a bull market ahead of schedule or experience a new adjustment?
Reasons why BTC is not moving + personal opinion
If you look at the market, it's been about five months, six months, and there haven't been any major changes.
Liquidity is gradually drying up and short-term funds are gradually decreasing. Therefore, some people may feel that short-term fluctuations are larger. But has volatility really increased? Can the past three weeks’ movement be considered as such?
In fact, volatility has decreased significantly. The reason volatility appears to have increased is most likely simple psychology.
We cannot just focus on this mentality, but must objectively understand the current situation and make "hypotheses" about the possible consequences of this situation.
You can enter if it is stable at 2.8 for a long time
Target $3.34 - $3.80 - $4.00
The trading volume of $santos is increasing. Because the Brazilian league is coming to an end. Santos was relegated for the first time in history last year, and this year's goal is to be promoted to the top league again. Santos will set a price for it.
The most undervalued meme coin at the moment, any sharp drop in $CAT after tomorrow's airdrop is worth actively buying
$CAT is the most undervalued memecoin currently
I believe the market cap will reach $600 million in the short term
It is the cheapest cat coin and the largest IP, with more than 25 million fans across platforms and 4 billion views
$CAT will be airdropped to $FLOKI holders based on the snapshot at 23:59:59 UTC on August 29
Several scenarios come to my mind:
1. Range-bound until August 29, then breakout shortly thereafter
I see too many people anticipating an “airdrop” which I think is a very plausible scenario
This means that many people are left on hold, waiting for the airdrop sell-off to occur before positioning themselves.
The only problem is that it will probably end up like the presale, which was expected to sell out but ended up being shelved as CAT only rose to a market cap of over $200 million in the 24-48 hours after launch.
It is expected that the market will get out of its disadvantage and break out of the siege tonight!
$BTC
I believe we are running out of time. The expected growth will occur in the fourth quarter.
We are currently at support and we may see a pullback starting tonight and continuing through the weekend. If we don't, the decline may intensify further.
Over 89,500 Traders Were Liquidated. But What Caused This Drop?
1) ETF outflow Bitcoin ETFs see highest outflows since August 6
2) Geopolitical tensions The war in Russia has escalated again, and the situation between Israel and Palestine has not yet calmed down.
3) Market trends The cryptocurrency market fell after hitting a major resistance area around $64,000.
Get ready for altcoin surges, Wednesday and Friday play a big role this week
Wednesday and Friday play an important role in the development of this week.
1) NVIDIA's financial report may be effective in artificial intelligence, gaming and storage projects, especially RENDER should pay attention!
2) With the September rate cut being discussed and the month end approaching, the US PCE data is crucial.
▪️If the PCE data is lower than expected (e.g. below 2.6% per year), it could indicate that inflation is beginning to be contained. In this case, expectations that the Fed will pursue an easier monetary policy could become stronger. This scenario would mean that interest rates would not rise, creating a positive environment for risk assets, especially cryptocurrencies.
What, Telegram founder Durov was arrested? TON fell so much! It's already opened too much!
The creators of TON are brothers Pavel Durov and Nikolai Durov, the creators of Telegram.
Pavel Durov previously created a highly anonymous instant messaging application called Telegram.
Because Telegram is highly anonymous, it has been used for drug trafficking, child pornography, and drug laundering.
On the 24th, Pavel Durov was arrested on suspicion of failing to monitor inappropriate content on the app and condoning crime.
As a result, the price fell by -20% and the open interest increased by +55% after the news that Telegram and TON founder and CEO Durov was detained in France.
$TON Price fell -20% and open interest increased +55% after news broke that Telegram and TON founder and CEO Durov was detained in France.
Most of these are undoubtedly shorts/hedges.
First, be careful when catching a falling knife. I do think some of these late-stage shorts could get crushed if momentum fades and other shorts start to take profits.
Given the reason they gave for detaining Durov (“failure to control content on Telegram”), I personally think he will be released soon.
Regardless, I think a -20% move is pretty big for such a large market cap and the news we have. I wouldn’t be surprised if there are other things at play that we may not know about. Maybe people are just overreacting. This wouldn’t be the first time.
Any Binance FUD for $BNB is usually a buy and the same type of price action and shorts entering the market will occur. These things tend to take some time to play out, so don’t expect a full retracement on the same day.
Regardless, if he is released, the news should weigh heavily on the market. Until then, prices may be volatile for a few days.
Utility tokens are rising across the board, and the top ten most promising altcoins in 24 years are entering the market quickly
Among the more established cryptocurrencies, the biggest seven-day weekly gainers are once again utility tokens.
This is more noteworthy than you might think because this hasn’t been the case for months.
Even though most memes are ephemeral and short lived, they still receive most of the attention and suck liquidity out of utility tokens (money needs to come from somewhere).
The fact that most utility tokens are currently dominating and most established memes have actually started to pull back recently means that the market is changing once again.
Powell's speech tonight has become the focus of the cryptocurrency circle, and there may be a short-term decline
The market is pretty nice today, it has been green for the past 24 hours
The price has been rising for three consecutive weeks. The upper limit of altcoins may exceed 1.1T. Large and small platforms continue to announce updates and innovations.
+ Fed announces expected rate cut
+ We are about to enter the last quarter of this year
+ If history repeats itself
Bitcoin ETF inflows are accelerating at an alarming rate.
This week, inflows reached $250 million.
I expect this to continue over the next 4-5 weeks, with September likely to see new all-time highs.
Owners should prepare their guns and bullets to catch up with this wave of copycats
▪️The positive sentiment will continue as long as the price does not fall below the short-term support at $59.807. This will pave the way for a new resistance.
The altcoins collectively surged, AI coins took the lead in rebounding, and the RWA sector is following
Big Rally for AI Tokens
$FET starts moving. $WLD $RNDR $LPT $TRAC Next?
$WLD
After a recent 46% drop, Worldcoin’s price has now recovered less than 10%. While some may view this as a bearish signal, it could just be a delayed start as bullish sentiment among investors grows.
Worldcoin still has a long way to go
Worldcoin’s price has had bad luck over the past two months, even erasing a 66% gain since mid-July. Currently, the altcoin is trading at November 2023 lows and likely has nowhere to go but up.