Bitcoin touches $58k again as analysts share bearish forecasts
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Bitcoin fell to lows of $57,700 on Coinbase as prices dipped during the US trading session.
Analysts predict further weakness is likely, and hereâs what they are saying
At the time of writing, Bitcoin (BTC) traded around $58,486 across major crypto exchanges. However, the digital assetâs price had touched lows of $57,700 on US-based crypto exchange Coinbase amid fresh selling pressure.
Notably, before this latest dump, crypto analyst Miles Deutscher had shared an observation: the last few weeks have seen prices rise during Asian hours and dip during US trading hours.  Â
Potential downside to $56k?
CryptoQuant head of research Julio Moreno suggests the $56k area remains key. If the price falls below this, the analyst sees a further weakness. According to Moreno, Bitcoinâs market cycle indicator has flashed bearish again and BTC risks a deeper correction below the demand zone.
âFrom a valuation perspective, if the price pierces $56K to the downside, risks of a larger correction increase,â the CryptoQuant analyst noted.
Could Bitcoin see $40 next?
Altcoin Sherpa is outright bearish on BTC price. The crypto analyst shared a chart that suggests the dip is likely to extend to $40k.
The last time Bitcoin traded at these levels was in January, when prices retreated from above $46k to revisit $39k. Thatâs before bulls saw BTC skyrocket amid the halving sentiment and spot Bitcoin exchange-traded funds approval to reach the all-time high above $73k.
BTC price is down 12% in the past month and over -21% since its all-time high in March as of 1:30 pm ET on August 30, 2024.
#BTC #Bitcoin #CryptoNews #TON #TelegramCEO $BTC $ETH $BNB
Nvidia, Apple, and Microsoft pursue OpenAI in $100 billion funding round
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Nvidia, Apple, and Microsoft are reportedly exploring opportunities to invest in OpenAI, the company behind ChatGPT. The investment is part of a new funding round featuring Thrive Capital, which could give OpenAI a valuation of more than $100 billion, the New York Times reported.Â
The funding round led by Thrive Capital, with an expected investment of around $1 billion, may have all three tech giants supporting OpenAI. Microsoft has been a key player in OpenAIâs growth, owning 49% of the companyâs income since injecting $13 billion in 2019. This has enabled Microsoft to integrate OpenAI in its products, such as Azure, the Edge browser, and the Bing search engine.Â
Nvidia and Apple unveil AI plans and seek market dominance
In June, at the annual Worldwide Developer Conference (WWDC), Apple announced that it would integrate OpenAIâs ChatGPT into its devices like iPads, iPhones, Vision Pro headsets, and Macbooks.Â
Nvidia, which controls about 80% of the market for AI chips, could also benefit from the cooperation with OpenAI. If Nvidia is able to remain the primary hardware supplier in the development of AI, this investment will only help further solidify its position in the market. OpenAI needs high-performance computing, which is something that Nvidia does best, and therefore, this partnership is mutually beneficial for both companies.Â
OpenAIâs financial stability has come under question. It has been reported that the company intends to invest about $7 billion in AI training. Additionally, $1.5 billion has been set for hiring in the next year.Â
#Nividia #Apple #OpenAI #CryptoNews #TON $BTC $ETH $SOL
Here is an update on the INJ/USDT market based on the provided chart:
!! IMPORTANT !!
$INJ
{spot}(INJUSDT)
INJ/USDT Market Update
The INJ/USDT market is currently positioned in a potential bullish setup, presenting a favourable buying opportunity. Below are the key levels and strategy based on the chart analysis:
1. Current Price and Buying Zone: The current price of INJ is around $16.758, with the chart indicating a key buying zone between $16.5 and $16.7. This area is identified as a strong support zone, making it a good entry point for potential long positions.
2. Selling Zones:
-The initial selling zone is set between $20 and $27. Traders could consider taking profits within this range if the price reaches these levels.
3. Technical Outlook: The market sentiment for INJ/USDT is currently bullish, especially within the identified buying zone. The price action is expected to rebound from the support area and potentially move towards the upper resistance levels if the bullish momentum continues.
4. Risk Management:
- It is essential to exercise caution and avoid over-leveraging your positions in such market conditions.
Given the identified buying and selling zones, plan your entry and exit points accordingly to maximise potential returns while minimising risks.
Conclusion: The INJ/USDT pair is currently in a buying zone, making it an attractive opportunity for traders looking to capitalise on a potential bullish move. With a clear strategy to enter around $16.5-$16.7 and target $20-$27, it's crucial to manage risk effectively and avoid over-exposure. Keep a close eye on the price action and adjust your strategy based on market conditions.
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WALKERSâ€ïž
RISK MANAGEMENT MUST
đ **Bitcoin Hash Price Hits All-Time Low: Bullish Rally Ahead?** đ
The Bitcoin hash price, a key metric for miner revenue per terahash, has plummeted to its lowest level ever! đ But don't fret, BTC enthusiastsâthis could be a golden opportunity! đ
CryptoQuant analyst Woominkyu highlights that historically, drops in hash price often align with BTC price bottoms. With the current hash price at rock-bottom levels, we might be nearing a BTC price floor. đ
Despite BTC's recent dip from $61,000 to $59,400, Woominkyu suggests a potential skyrocket in the coming weeks, driven by macroeconomic factors. đ
Stay tuned, BTC loversâexciting times ahead! đđ°
Cardano (ADA) Price Could Decline 10%, Hereâs Why
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In this bearish market sentiment, the majority of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are experiencing significant selling pressure.
Amid this market downturn, Cardano (ADA) also appears bearish and may face a substantial price decline despite the accumulation of millions of tokens by whales.
Cardano Whales Added 170 Million ADA TokensÂ
According to the on-chain analytic firm Santiment, Cardano Whales holding over 100 million ADA tokens have added over 170 million tokens between August 27 and August 30, 2024.
This massive accumulation ahead of Cardanoâs highly anticipated Chang Hard Fork update was initially considered a bullish outlook for ADA.
Cardano Price PredictionÂ
However, due to the bearish market sentiment on August 30, 2024, ADA has experienced a crucial breakout down of the ascending trendline. Since August 5, 2024, ADA has taken multiple support of this trendline, and each time it has seen an upside rally. Following this recent breakdown, there is a high possibility it could fall by 10% to the $0.305 level.
Currently, ADA is in a downtrend as it is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. However, its Relative Strength Index (RSI) is in an oversold area indicating a potential price reversal.
ADAâs Key Liquidation Levels
However, ADA short sellers are dominating the asset and liquidating long positions. According to the on-chain analytic firm CoinGlass, the ADA exchange liquidation map indicator signals short sellers have huge potential to liquidate millions worth of long positions.Â
Currently, the major liquidation levels are near $0.337 on the lower side and $0.365 level on the upper side, as traders have been over-leveraged at these levels.Â
#Cradano #ADA #Altcoins #TON #DOGSONBINANCE $ADA $BTC $SOL
Crypto Analysts Spot Buy Signal: Bitcoin Nears Recovery
Bitcoin shows a recovery signal on the 12-hour chart, suggesting upward momentum.
Despite facing resistance at $65,000, Bitcoin finds strong support at $58,000.
The consolidation phase, with minor gains and declines, highlights market instability.
Bitcoin is currently showing signs of a potential recovery, as noted by crypto analysts, with a buy signal on the 12-hour chart via the TD Sequential indicator. The analysis covers Bitcoinâs market behavior from August 26 to August 30, 2024. Following a significant drop to $59,000 on August 27 from a high of $64,000, the market has entered a consolidation phase.Â
This period is characterized by minor gains and slight declines, as shown in green and red candlesticks that mark Bitcoinâs unstable trading range. The latest update on August 30 shows a small green arrow on Bitcoinâs chart, hinting at possible upward movement in the near future. Despite these fluctuations, Bitcoin remains below the $60,000 threshold, struggling to climb back to its recent peak.
In another analysis, crypto analyst Jelle has highlighted Bitcoinâs struggles near the $65,000 resistance level. According to his analysis of the daily chart, Bitcoin has consistently failed to surpass this barrier, marked by numerous rejections indicating a robust sell-off each time it nears this threshold.
Â
Meanwhile, Bitcoin has found support around the $58,000 mark, bouncing back multiple times, underscoring the buyersâ lower-level presence. Over the past 24 hours, Bitcoin has seen a slight decrease in its price, at $59,493 at press time, marking a 1.45% drop. The cryptocurrency experienced fluctuations between a low of $58,707 and a high of $61,184 during this period. Despite todayâs dip, Bitcoinâs price remains significantly volatile as it navigates challenging market conditions.
#Bitcoin #BTC #CryptoNews #TON #BNBChainMemecoins $BTC $ETH $SOL
Vitalik has reduced his $ETH holdings by 85,000. He mentioned that three years ago, he held 325,000 $ETH , which was worth $1.46 billion at the time. Now, his holdings have decreased to 240,000 #ETH , currently valued at $592 million.
$BTC Current Update:
According to this chart this range is killing longs, shorts, day traders and swing traders and all. Is there anything else to say regarding the current price action ?
BTC is on a wild roller coaster right nowâjust when it seems safe to go long, it takes another dive. Remember, the strategy for this bull run is to take profits at every level up. While there will be so many future bull runs to come, but this might be the last major bull run for crypto degens. With mainstream attention growing and political and billionaire involvement increasing, regulation is on the horizon. So, letâs buckle up and make the most of this exhilarating ride.
đšđšIt took me 7 years in the crypto world to learn these lessons, but you can grasp them in just 3 minutes: đšđš
1. Regardless of market conditions, one thing remains constant: 8% of people will control all 21 million Bitcoin.
2. Mastering financial, capital, and risk management is 100 times more critical than just focusing on technical analysis or crypto research.
3. Passive income in crypto: There are numerous ways to profit in the market without being an active trader.
Over the past 15 years, #Bitcoin has averaged a yearly increase of over 100%. So why do so few people profit? Because the 'get rich quick' mindset is prevalent. If you canât commit at least 4 hours a day to crypto, stick to Bitcoin and ETHâ9% in $BTC and 10% in $ETH .
{spot}(ETHUSDT)
Trust no one blindly: Trust can lead to misplaced hope, disappointment, and mistakes. Learn independently and take full responsibility for your decisions. This is how you gain true experience and growth!
The ultimate aim of investing is to enhance the quality of your life. If crypto investing helps you achieve that, go for it. If not, it might be time to reconsider.
Crypto is now part of the financial world: What started as a tech-driven innovation is now heavily influenced by macroeconomic factors and intertwined with mainstream financial markets.
Some may advise against buying Bitcoin, but remember, once something becomes mainstream, the opportunity could slip away. Act now before itâs too late!
Invest thoughtfully, make choices that matter, and let crypto guide you toward a brighter future.
#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole
The price of TON declined sharply this week following the news that Telegram's Founder and CEO, Pavel Durov, was arrested in France. TON's price dropped by 11% on August 26, closing at $5.12âthe lowest level since May 1. TON, the native currency of The Open Network, had previously reached a record high of $8.17 on June 14.
However, the recent decline could present an attractive risk-reward scenario when compared to the network's Metcalfe valuation. At the current price of $5.52, TON is closer than ever to the lower Metcalfe price valuation band, which currently stands at $4.60. Meanwhile, the upper Metcalfe valuation price is $18.40.
The Metcalfe valuation bands are calculated based on the number of unique addresses (a proxy for users) active on the TON network. Notably, active addresses on the TON network reached a fresh all-time high of 1.93 million on August 28.
The price of TON declined sharply this week following the news that Telegram's Founder and CEO, Pavel Durov, was arrested in France. TON's price dropped by 11% on August 26, closing at $5.12âthe lowest level since May 1. TON, the native currency of The Open Network, had previously reached a record high of $8.17 on June 14.
However, the recent decline could present an attractive risk-reward scenario when compared to the network's Metcalfe valuation. At the current price of $5.52, TON is closer than ever to the lower Metcalfe price valuation band, which currently stands at $4.60. Meanwhile, the upper Metcalfe valuation price is $18.40.
The Metcalfe valuation bands are calculated based on the number of unique addresses (a proxy for users) active on the TON network. Notably, active addresses on the TON network reached a fresh all-time high of 1.93 million on August 28.
**News Flash: 24X National Exchange Seeks to Revolutionize Crypto ETF Trading**
24X National Exchange has filed an amended application with U.S. regulators to launch a securities exchange that could enable 24/7 trading for cryptocurrency ETFs. The proposal aims to extend trading hours to 23 hours a day, seven days a week, all year round, including holidays.
Pending approval, the exchange plans to include securities from major indices like Nasdaq-100, S&P 500, and Russell 2000, as well as the top 50 ETFs by daily volume.
Currently, crypto ETFs like Blackrockâs iShares Bitcoin Trust (IBIT) and ProShares Bitcoin Strategy ETF (BITO) are among the most actively traded.
The SEC has yet to greenlight 24X's proposal, with recent public comments focusing on trading pauses and stress tests. If approved, this could offer more flexibility for international and domestic investors.
đđš Essential Altcoins for Your Portfolio: Ethereum, Polkadot, Polygon Are Ready to Take Off!
Top 3 Altcoins You Shouldn't Miss for Massive Gains đ
1. Ethereum ($ETH ): The King of DeFi đ
Ethereum isnât just another crypto; it's the backbone of decentralized finance. With its smart contracts fueling DeFi apps, NFTs, and more, Ethereum continues to lead the charge. The upcoming Ethereum 2.0 upgrade promises even greater scalability and energy efficiency, making ETH a prime choice for those betting on the future of decentralized tech.
2. Polkadot ($DOT ): The Cross-Chain Connector đ
Polkadot is revolutionizing blockchain by bridging different networks, allowing for seamless communication between them. As the need for interoperable solutions grows, Polkadotâs innovative approach positions it for serious growth. Holding DOT means investing in the future of a unified blockchain ecosystem.
3. Polygon ($MATIC ): Ethereumâs Speed Booster âĄ
Formerly known as Matic Network, Polygon is vital for scaling Ethereum. By processing transactions off-chain and then settling on Ethereum, Polygon offers faster speeds and lower costs. As Ethereum continues to expand, Polygon's role in scaling solutions will only grow, making MATIC a wise investment for the future.
Why these Altcoins?
Ethereum, Polkadot, and Polygon arenât just coins; theyâre the building blocks of tomorrowâs blockchain technology. Holding these assets could be a strategic move as they continue to shape the future of decentralized ecosystems. Don't miss out on these high-potential altcoins!
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{spot}(DOTUSDT)
{spot}(ETHUSDT)
đ° @timedotfun raises $3M in a Seed funding round led by @BHDigitalAssets. Other investors in the round include @cbventures, @ZeePrimeCap, @PalmTreeCrypto, @breed_vc and @AdvancitCapital.
#TimeFun is a tokenization platform that helps creators tokenize their time. When creators tokenize their time, traders can buy, sell and redeem that time in minutes, which can then be used to direct message or have 1-on-1 calls with the creator.
đ
Crypto Alert: Floki, Not, and Dogs Facing Major Turbulence! đš
The crypto sphere is buzzing with alarming news about Floki, Not, and Dogs. Hereâs the latest scoop:
- Floki: Rumored to be struggling with critical technical glitches and security weaknesses, potentially leaving it exposed to cyberattacks and investor losses.
- Not: Alleged to be entangled in serious administrative chaos, financial manipulations, and internal strife, which might push it toward bankruptcy.
- Dogs: On the brink of financial collapse due to a severe funding drought and lack of investment, casting doubt on its future.
If these whispers turn out to be true, these coins could be headed for a major market shakeup. Investors, stay vigilant and verify information from trusted sources before making any moves.
Stay informed, and tread carefully! đ
$DOGS $NOT $FLOKI
Worldcoin $WLD is currently leading the Optimism ecosystem, boasting a significant increase in unique addressesâfrom 477,000 in August 2023 to 4.7 million by August 26, 2024.
This rapid growth underscores strong community engagement and a heightened interest in $WLD.
In terms of transaction volume, $WLD consistently outperforms other tokens within the Optimism ecosystem. For example, on August 19, 2024, Worldcoin recorded a transaction volume of $650 million, far surpassing $OP's $354 million on the same day.
However, despite these impressive achievements, approximately 80% of $WLD holders are currently "out of the money," indicating that the majority of investors are experiencing losses.
Source:
đ $BTC Prediction: Spot-On Accuracy! đ
For those following our signals, it's time to celebrate your gains! Bitcoin ($BTC) is currently around $58,278, and here's what to watch:
Key Levels:
- Support: $55,000
- Resistance: $60,000
With the 50-day moving average at $57,000 and the 200-day at $52,000, $BTC is trending bullish above both. Keep an eye out: breaking through $60,000 could boost momentum, while a drop below $55,000 might signal a shift.
Stay sharp and enjoy those profits!
#Write2Earn #CryptoInsights #BinanceWins
âïžâ»ïžđšStabilizing Stablecoins: Navigating Cryptocurrency Regulations đ
$BNB $USDC $BTC đ‎ïžđȘ
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{future}(USDCUSDT)
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Stablecoins, cryptocurrencies pegged to a stable asset like the US dollar, aim to reduce volatility. However, their growth raises regulatory concerns. Let's dive into the regulations surrounding stablecoins:
*Key Regulatory Issues:*
1. *Classification*: Are stablecoins securities, commodities, or currencies? đ€
2. *Issuance*: Who can issue stablecoins, and what are the requirements? đ
3. *Reserve Requirements*: Must stablecoin issuers hold reserves to back their coins? đŠ
4. *Disclosure*: What information must issuers disclose to users and regulators? đą
*Regulatory Approaches:*
1. *US*: The SEC, CFTC, and OCC are involved in regulating stablecoins. Expect a complex, evolving framework đșđž
2. *EU*: The European Commission has proposed regulations for stablecoins, focusing on issuer requirements and consumer protection đȘđș
3. *Singapore*: Singapore has established a regulatory sandbox for stablecoins, balancing innovation and risk management đžđŹ
*Stablecoin Regulation Benefits:*
1. *Increased Adoption*: Clear regulations can drive mainstream acceptance đ
2. *Improved Trust*: Regulations can enhance trust in stablecoins and the broader cryptocurrency market đ
3. *Reduced Risk*: Regulations can mitigate risks associated with stablecoin issuance and trading đĄïž
*Challenges and Future Directions:*
1. *Balancing Innovation and Regulation*: Finding the right balance between innovation and regulation is crucial đ
2. *Global Coordination*: International cooperation is necessary for effective stablecoin regulation đ
3. *Evolving Regulatory Frameworks*: Regulations will need to adapt to the rapidly changing cryptocurrency landscape đ
As regulations evolve, stablecoins will play a crucial role in the cryptocurrency market. Stay informed to navigate this complex landscape! đ
Research on BTC Price Action and Trends
!! IMPORTANT !!
$BTC
{spot}(BTCUSDT)
1. BTC and the 2020 Halving:
In 2020, during the Bitcoin Halving event, BTC maintained a bullish trend and did not fall below its 50-week Moving Average (MA 50) support level.
After reaching a high of 64,000, BTC touched its MA(50) at 28,989 and rebounded without breaking below it until December 2021.
2. BTC Price Movement in 2021:
After December 2021, BTC broke below the MA(50) on the weekly chart, resulting in a downward trend that led to a low of 16,000.
3. Current Support Levels and 2024-2025 Outlook:
For the upcoming 2024-2025 period, it is anticipated that BTC will not drop below the 52,700 range because the MA(50) support level is at 52,771 and is currently rising each week.
BTC currently has strong support at 57,499. If BTC breaks below 57,471, there is a chance it could touch the MA(50) again.
4. Bullish Projections for 2024-2025 Halving Season:
After potentially touching the MA(50) support, BTC is expected to rise for three consecutive months during the 2024-2025 Halving period.
With the ETF approval season in play, projections suggest that BTC could surge from 94,000 to 105,000 during this period.
Disclaimer:These are just my thoughts based on technical analysis. Please conduct your own research before making any investment decisions.
WALKERâ€ïž ( READ CAREFULLY & TAKE DECISIONS AT YOUR OWN)
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Be Ready ... #BullishBanterFam back on seat..
Another đŻ Analysis prediction results ..$SOL All TPs hit đŻ ... I will start prediction again and will help my community to give more profitable entries.
$SOL /USDT Analysis:
Current Price: $132.54 (-8.87%)
Resistance: $134.80
Support: $132.05
Long Trade: Consider entering above $134.80 with potential targets at $137.98 and $140.73. The stop loss should be placed near $132.05.
Short Trade: An entry below $132.05 could aim for targets at $131.61 and possibly lower, with a stop loss set around $134.80.
The price of $SOL has experienced a significant drop, reaching its 24-hour low at $132.05, indicating strong selling pressure. If it breaks below the support, further downside movement could be expected. However, a rebound above the resistance might signal a recovery.