The cryptocurrency market decline on December 9, 2024 is due to several factors:
1. Regulatory pressures: Some countries announced new measures to restrict the use of cryptocurrencies, which worried investors and led to heavy selling in the market.
2. Fraud: The market witnessed phishing scams, where investors lost large amounts of money, which affected investors’ confidence in the overall security of the market.
3. Economic tensions: Expectations of interest rate hikes in global markets, such as the Bank of Japan and the Federal Reserve, rose, which made investors move towards safer assets, such as bonds, at the expense of cryptocurrencies.
4. Decline in major currencies: Bitcoin and Ethereum, the two largest cryptocurrencies, witnessed significant declines as a result of heavy selling, which affected the market as a whole.
These factors serve as a reminder for investors to be cautious, especially in a highly volatile market such as the cryptocurrency market.
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Today, the global cryptocurrency market is experiencing a significant decline, due to several important factors:
1. Rising US bond yields: Analysts link the recent decline in cryptocurrency prices to rising US government bond yields, which show a decline in liquidity in financial markets. This in turn reduces investors’ appetite for investing in riskier assets such as cryptocurrencies.
2. The US dollar is showing increasing strength: The US dollar has seen positive rebounds from its previous lows, pushing investors towards safer investment instruments such as the dollar instead of cryptocurrencies. This effect is known as the rise of the US dollar index (DXY).
3. Massive liquidations of long positions: The market has seen liquidations estimated at hundreds of millions of dollars, as traders in the market were forced to abandon long positions due to losses, which increased downward pressure on the market.
4. Negative effects of rumors about the Binance exchange and FTX events: Rumors related to liquidity problems and the bankrupt FTX exchange have hurt market sentiment. Binance itself has become the subject of rumors, which has increased investor anxiety and led to a flight to safer investments.
All of these factors combined show a state of anxiety in the market. $BTC
To know the path of a cryptocurrency (such as Bitcoin, Ethereum, or any other currency), you must follow a set of factors and tools that help you understand the market movement and price trends. Here is how to analyze the path of a currency:
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1. Technical Analysis
Study using charts: Use charts to analyze the price of the currency. The most common patterns include:
Trends: bullish, bearish, or sideways.
Support and Resistance: Important price levels that determine stopping or reversal points.
Technical indicators: such as:
Moving Averages.
RSI (Relative Strength Index).
MACD.
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2. Fundamental Analysis
Economic and political news: Such as news related to new legislation, companies accepting the currency as a means of payment, or technical developments.
Technical developments: Protocol updates and technical developments that may affect the price of the currency.
Supply & Demand: If demand increases or supply decreases, this may lead to a price increase.
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3. Review price tracking platforms
CoinMarketCap or CoinGecko: The most popular sites that display currency prices and trading volumes, with charts.
Trading platforms: Such as Binance or other platforms that provide charts about currencies.
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4. View daily news related to cryptocurrencies ....... $BTC $ETH
ME is a cryptocurrency that was recently listed on the Hotcoin platform. The coin targets its projects through blockchain technology, and has witnessed the beginning of its trading with a focus on documentation across different platforms. It is expected to witness market movements with investment opportunities and future expansions.
Choosing the best coin to invest in depends on your financial goals and risk tolerance. Currently, there are some coins that are considered attractive for investment:
1. Ethereum (ETH): It is very popular due to its support for decentralized applications and the decentralized finance sector. Analytics indicate that it can achieve growth due to strong financial flows into related ETFs and the potential for generating returns from staking.
2. XRP: It has shown strong performance recently after increasing by 62% in value, and may benefit from a more positive regulatory environment in the United States and its support for fast and low-cost cross-border payments.
3. Binance Coin (BNB): It is strongly linked to the largest cryptocurrency exchange (Binance), which gives it stability and strength in terms of demand.
4. Avalanche (AVAX): It is known for its speed and low cost, and it attracts projects related to decentralized finance, making it a potential option for growth.
5. EigenLayer (EIGEN): An innovative decentralized security project that offers lucrative incentives, with expected updates that could boost its growth in 2024.
Before investing, it is important to do thorough research, follow trends, and evaluate the suitability of the assets for your investment portfolio.
Bitcoin is expected to rebound to $100,000 and possibly surpass it by the end of 2024 or early 2025, driven by factors such as institutional adoption, increased demand for Bitcoin-based ETFs, and supply reductions due to the halving in April 2024.
Some analysts predict that Bitcoin could reach $103,000 by the end of this year, as the market’s bullish momentum continues. Additional factors, such as the stability of the US economy and pro-crypto policies, could support this trend.
However, there are concerns about potential short-term volatility due to corrections or selling pressures as Bitcoin approaches the $100,000 mark, which is an important psychological level for the market. If current trends continue without major disruptions, Bitcoin could surpass this level in the current market cycle.
The outlook remains positive but is subject to market developments and global economic factors.
The medium and long-term outlook is more optimistic, with some estimates suggesting that XRP could reach around $4 by 2025, and possibly higher levels if its technology is more widely adopted in global payment systems.
However, it should be noted that the market is volatile, and there are risks associated with constant price fluctuations. If you are planning to invest, it is advisable to conduct careful research and consult financial professionals. $XRP
Microsoft will hold a shareholders meeting on December 10, 2024 to vote on the company’s proposal to invest in Bitcoin. Although this move is considered important because it could signal broader acceptance of digital currencies, Microsoft’s board of directors has recommended that shareholders vote against the proposal.
The main reason behind this recommendation is the volatility of Bitcoin, which could affect the stability of the long-term investments that the company needs to run its operations. However, the board of directors made it clear that Microsoft regularly monitors digital currency trends and will take them into account when making future investment decisions.
If this proposal is approved, it could have a significant impact on the Bitcoin market as it represents support from one of the largest technology companies.
The cryptocurrency market, including Bitcoin, is known for its extreme volatility, making it difficult to accurately predict short-term price trends. The sharp decline in Bitcoin could be due to several factors, including:
1. Heavy selling pressure due to profit-taking or negative news.
2. Global economic events that affect investor sentiment.
3. New regulatory decisions in some countries.
Will Bitcoin rise?
There is a possibility that Bitcoin will rise if the following factors are present:
1. Increased demand: The entry of large investors or institutions.
2. Positive news: Such as wider adoption of the currency or easing of regulatory restrictions.
3. Technical analysis: If Bitcoin reaches strong support levels, it may attract buying and start to rise.
Tip:
Monitor global news and events affecting the cryptocurrency market.
Use technical analysis to determine appropriate entry or exit points.
Always determine the risk ratio that you can tolerate, especially with short-term trading.
The best time to buy cryptocurrencies in December depends on several factors, including market movement, economic news, and price analysis. In general, there are some tips that can help you choose the right timing:
1. Periods of decline and correction:
The ideal time to buy is when the market is in a price correction after a wave of increases, where prices are relatively low compared to the last peak.
Following major cryptocurrencies such as Bitcoin and Ethereum can give an indication of the overall market direction.
2. Days in the middle of the month:
Sometimes, the middle of the month is observed to be a period of relative calm in the market, where trading volume is lower compared to the beginning or end of the month, which may provide an opportunity to buy at low prices.
3. Avoid periods of negative news:
If there are expectations of regulatory decisions or important economic reports (such as inflation data or interest rates), it is best to avoid buying immediately before the announcement. If the market declines due to negative news, the time to buy may be right after the decline ends.
4. Long-term strategies:
Instead of trying to time the market daily, it is preferable to use strategies such as the circular buying (DCA), where small amounts are bought at regular intervals, which reduces the impact of daily fluctuations.
The Maybe Dog coin has seen a significant surge recently due to a set of factors common to meme coins in general:
1. Strong community engagement: Meme coins often rely on the support of digital communities and social media promotion, which is true for Maybe Dog, as it has received significant support from influencers and crypto enthusiasts.
2. Increased interest in meme coins in general: The recent period has seen significant increases in several meme coins, driven by community engagement and symbolic association with internet culture and memes.
3. Overall market rise: With the overall crypto market recovering and the increased demand for Bitcoin and major cryptocurrencies, meme coins are being positively impacted by increased liquidity and daily trading.
Today, the cryptocurrency market witnessed a sharp decline due to several intertwined factors:
1. Global economic data: The announcement of weak economic data in the United States negatively affected the markets, prompting investors to avoid high-risk assets such as cryptocurrencies【6】【8】.
2. Price correction: Markets are witnessing corrections after previous rises, as investors make decisions to secure profits and exit the market at certain points【6】.
3. Geopolitical turmoil: These turmoils have reduced risk appetite, which has been reflected in the decline in prices of many assets, including cryptocurrencies【9】.
4. Fluctuations in liquidity: Increased pressures in automated liquidation operations in the markets, especially in Bitcoin futures, have pushed prices to a rapid decline【6】【7】.
Bitcoin fell to lower levels than expected, while alternative currencies such as Ethereum and Binance Coin were similarly affected. It is advisable to monitor the market carefully and avoid emotional decisions at such times.