Veteran trader Peter Brandt has warned that there is a 50% chance that Bitcoin (BTC) will crash below $40,000 this cycle. Brandt told his 734,000 followers on social media platform X that Bitcoin could crash by more than 35% from its current value by the end of next year. “I believe there is a 50% chance that BTC will drop below $40,000 before the last half of the halving.” Source: Peter Brandt/X Brandt also suggests that Bitcoin’s price action this year could be forming an inverted right triangle, similar to the black swan event Bitcoin experienced at the start of…
Author: Crypto Flexs
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Hong Kong lawmaker Johnny Ng has urged the government and banks to ease banking restrictions on cryptocurrency and Web 3.0 companies, as many still struggle to open accounts in the country.Ng, a member of Hong Kong’s Legislative Council, wrote: mail Today X reported that Web3 companies are having trouble opening bank accounts, “hindering their ability to conduct business effectively.””Virtual banks should develop in a way that diversifies services and complements traditional banks,” Ng said, adding that Hong Kong should upgrade its virtual banks to manage virtual assets, which is in line with the government’s Web3 development goals.Ng said at a…
Terryl Dickey Aug 9, 2024 07:31 Binance Research highlights the need for cryptocurrency projects to focus on real value, sustainable revenue, and real user demand to ensure long-term growth. According to Binance Research, the longevity and resilience of a cryptocurrency project largely depends on its ability to provide real value to users. Short-term interest driven by narrative, emotion, and hype can drive initial engagement, but these factors alone are not enough for long-term growth, especially in bear markets.Current situationMany projects have successfully gained traction by leveraging popular trends such as AI and re-staking. However,…
SAND has found strong support recently as the bulls look to break out of the current pattern. Derivatives data showed a downtrend, with some expecting a bullish rebound. As the bear market in the SAND market triggered another liquidation rally, price action struggled to stay above key support levels. A bounce from the 50 EMA has led to a downtrend towards the support level of $0.23 at the time of writing. The bulls will now try to break the bearish boundary, especially as the price approaches the high liquidity zone. At the time of writing, SAND is trading at almost…
According to the latest analysis, Bitcoin can overcome the impending “death cross” if it flips $62,000 as support.In an August 9 X-only thread, popular trader Benjamin Cowen suggested a way for bulls to avoid a Bitcoin (BTC) price crash, based on history.$62,000 Becomes Key BTC Price Resistance HurdleThe recent BTC price action has brought BTC/USD to the threshold of another moving average crossover, classically known as a “death cross.”This includes the downward sloping 50-day simple moving average (SMA) crossing below its 200-day equivalent. The current 50-day and 200-day SMAs are 61,998 and 91,882, respectively, according to data from Cointelegraph Markets…
Market • August 9, 2024 3:57 AM EDT Posted 1 minute earlier ~ in Pump.fun, a Solana-based Mimecoin launchpad, eliminates token distribution fees and rewards token creators with 0.5 SOL ($80) when the token crosses the bonding curve.The platform will now allow the first purchaser of Mimecoin to pay the token creation fee instead of the creator paying a fee of 0.02 SOL ($3). “This opens up a use case where someone can create coins without having to purchase any supply at all.” Pump.fun Wrote About X.Memecoin creators receive a 0.5 SOL reward, regardless of whether they hold the tokens…
Restore the Republic (RTR), a Donald Trump-themed cryptocurrency, has fallen a whopping 95% from its all-time high after it was revealed that it has no ties to the Trump family. The RTR price initially soared to $0.1490 after a now-deleted post by Students for Trump president Ryan Fournier suggested that this was the new official Trump token, but the token soon plummeted after Eric Trump vehemently denied this.RTR briefly hit an all-time high of $0.1490 before crashing. Source: Dex ScreenerAccording to data from Dex Screener, RTR is trading at $0.0091 at the time of publication.Before Trump’s denial, many in the…
Simplicity is like the friend who shows up to a party in jeans and a T-shirt while everyone else is in sequins and a bow tie. It’s the art of stripping away unnecessary decoration and fur to reveal only the bare essentials, like peeling away the ridiculous layers of an onion to find the core. Except, unlike the onion, it doesn’t cry. In a world cluttered beyond a teenager’s bedroom, simplicity cuts through the chaos like a hot knife through butter, bringing a sigh of relief to your overworked brain. If you are a gun of simplicity that hits directly…
Wang Long Chai Aug 9, 2024 07:15 BitMEX introduces new prediction markets on Trump, Harris, Powell, and Gensler, giving traders the opportunity to speculate on political and economic developments. Leading cryptocurrency exchange BitMEX has announced the launch of four new prediction markets focused on celebrities including Donald Trump, Kamala Harris, Jerome Powell, and Gary Gensler. According to the BitMEX blog, the markets will launch on August 9, 2024 at 04:00 UTC. Prediction Market Details A new prediction market allows traders to speculate on the future actions and influence of prominent individuals, including: Donald Trump:…
As a seasoned crypto reporter, Dalmas brings a unique perspective to the industry. His expertise in NFTs, blockchain, DeFi and blockchain news at NewsBTC, combined with his background in mechanical engineering and over 10 years of journalism experience, has allowed him to write over 10,000 news and feature articles over the past 8 years. His diverse range of topics, including technology, forex and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured in major news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authoritative sites. In particular, he…