*Bitcoin (BTC) Update* Here's the latest update on Bitcoin (BTC) as of August 6, 2024: - *Price*: Bitcoin (BTC) is currently trading at around $67,060, which is a 4.3% increase from the previous day ¹. - *Market Value*: Bitcoin's market value has decreased by around $220 billion due to recession fears and disappointing economic data ¹. - *Global Crypto Market Cap*: The global crypto market cap has declined by 15.9% to $1.81 trillion ¹. - *Recent Trends*: Bitcoin has been experiencing significant price fluctuations, with a 30% decline in a week, reminiscent of the March 2020 crash ². However, it has also seen some gains, surging over 3% to $69,600 following Trump's crypto-friendly speech ¹. - *Regulatory Environment*: The regulatory environment for Bitcoin and crypto is evolving, with the 2024 elections in the US, Asia, Europe, and Africa poised to influence the global regulatory framework ³.
- Ripple's legal battle with SEC continues, with a potential settlement rumored - Ripple announces partnership with Saudi Arabian bank, Al Rajhi Bank - XRP adoption grows, with new listings on exchanges and increased usage in cross-border payments
- PHB announces partnership with healthcare company, Medibloc - Public Health Blockchain launches new decentralized app (dApp) for healthcare data management - PHB token listed on additional cryptocurrency exchanges
- NOTS announces rebranding and new website launch - NOT COIN partners with gaming platform, PlayNFT - NOTS token listed on new cryptocurrency exchange, Hotbit
Please note that cryptocurrency prices and updates can fluctuate rapidly and may be affected by various market and regulatory factors. #Write2Earn!
The global crypto market cap is $2.18T, a 2.73% decrease over the last day ¹. Here are some altcoin updates:
- *Solana (SOL)*: Gearing up for a large rally, printed a bullish pattern, and could be shaping up for a big breakout ². - *BNB*: Analysts issue warning on large-cap crypto BNB ². - *Ethereum (ETH)*: Rival Solana (SOL) could be gearing up for a large rally ². - *Bitcoin (BTC)*: Huge bull trap, best time to sell, and the whole crypto market is in a bear market ³.
Remember, altcoins can be volatile, and investors should consider risk tolerance and investment goals before making decisions ⁴.
In the above chart, the price is getting rejected again and again by touching the neckline; in this type of pattern, we should take bullish trade only, and we will take the trade only when the price breaks the neckline and take a retest. Support Sometimes we make this mistake. Whenever the price breaks the neckline, we immediately buy there, and our trade fails. We don't want to make such a mistake; we must wait again whenever the price breaks the neckline. When the price takes a retest and tries to move up with a bullish candle, we have to buy.
Trading terms you will need to know Target = Take your profits/Target price has hit Entry = We buy here/Enter into the Trade Stoploss = Sell for a loss in case Trade doesn't go as planned/Maximum Trade loss Retest = Price is at a key level again/ Bouncing off price Ratio (1:3) = Three units of expected gain to one unit of potential loss would be represented as a 1:3 ratio
*TRBUSDT Update* Here are some updates on TRBUSDT ¹: - *Price Volatility*: TRB was one of the coins with the highest gains during the previous bullish run in the second half of 2023, experiencing a staggering 5500% increase. However, the price retraced by up to 93% from its all-time high of $555 in April 2024, only to rebound by 370% to $149 a month later. - *Trade Analysis*: The price may continue to decline and seek support around the $40 level. Multiple lows near $40 could form, or the price might dip even lower before consolidating with higher RSI values at the $40 level. This could present a buying opportunity for a long-term hold. - *Bullish Run*: Alternatively, the price might surge past $80. If you decide to buy, be aware of the resistance levels at $90 and $120, which have previously halted price increases. - *Technical Analysis*: The TRB/USDT trading pair is navigating key technical levels, with significant support and resistance zones in focus. Support Zone: The range around $65.00 - $70.00 has been tested repeatedly, indicating strong buying interest. Resistance Zone: Situated around $81.00 - $85.00, this zone has seen recent price rejection, indicating selling pressure. A breakout above could signal a bullish continuation. - *Market Sentiment*: Bullish Scenario: A breakout above the $81.00 - $85.00 resistance and sustain, supported by strong volume, could lead to a bullish trend, targeting $90.00 or higher. Bearish Scenario: Failure to surpass the resistance, with a drop below the 200-period SMA, could lead to a move towards the $65.00 - $70.00 support zone, with potential further declines.
Here are the latest updates on XRP (Ripple) ¹ ² ³: - *Ripple USD (RLUSD) Stablecoin*: Ripple plans to launch a stablecoin called Ripple USD (RLUSD) by the end of 2024, available on XRP Ledger and Ethereum. The stablecoin will be fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars. - *SEC Lawsuit*: The SEC has criticized RLUSD as an “unregistered crypto asset,” continuing its ongoing legal battle with Ripple since 2020. Ripple’s team is positive that the SEC is unlikely to appeal XRP “non-security” status and the altcoin has legal clarity. - *XRP Price*: XRP is currently trading at around $0.50, down nearly 7% on Monday. XRP could extend losses by 8.35% and sweep liquidity at the support level of $0.50. - *Technical Analysis*: The Relative Strength Index (RSI) reads 35.90 close to the oversold zone, meaning there is an opportunity for sidelined traders to enter. XRP could target the $0.60 level in its rally, a 22% gain from the current price. - *Ripple Investment*: Ripple has invested $10 million in tokenized US Treasury bills in preparation for its stablecoin launch.
#altcoin update As of today's date, August 6, 2024, the altcoin market is experiencing a mix of volatility and growth. Here are some updates: *Top Altcoin Performers:* 1. Ethereum (ETH) - Up 5% in the last 24 hours, with a market capitalization of over $300 billion. 2. Binance Coin (BNB) - Up 3% in the last 24 hours, with a market capitalization of over $50 billion. 3. Cardano (ADA) - Up 2% in the last 24 hours, with a market capitalization of over $15 billion. *Trending Altcoins:* 1. Solana (SOL) - Up 10% in the last week, with a growing ecosystem of decentralized applications (dApps). 2. Polkadot (DOT) - Up 8% in the last week, with increasing adoption of its interoperability protocol. 3. Cosmos (ATOM) - Up 5% in the last week, with a focus on scalability and usability. *Altcoin News:* 1. Ethereum's upcoming Shanghai upgrade aims to improve scalability and usability. 2. Binance announces new altcoin listings, including Cosmos (ATOM) and Near Protocol (NEAR). 3. Cardano's Vasil hard fork is scheduled for August 2024, promising improved smart contract functionality. Please note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. These updates are for informational purposes only and should not be considered investment advice. Always do your own research and consult with a financial advisor before making investment decisions.