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Bitcoin hasn’t found the bottom yet, drop of 40% still to come – Bloomberg analyst warns

sky0x.eth

Published

2 years ago

on

  • Bitcoin is heading significantly lower after its heavy breakdown from the support levels.
  • Mike McGlone added that the Bitcoin story is all bright for the long term and said institutional investors face greater risk with not having any exposure to Bitcoin for a five-year term.

The FTX exchange collapse spread like a contagion across the entire crypto space with Bitcoin and other altcoins seeing heavy correction over the last few weeks. As of now, Bitcoin is trading somewhere close to the $16,700 level with a market cap of $321 billion.

However, some market analysts believe that the bottom is still not in! Bloomberg Intelligence senior macro strategist Mike McGlone, who’s been bullish about BTC in the past, is setting a new floor price for the crypto. During his recent interview with CryptoBirb, McGlone said that Bitcoin’s heavy breakdown from the support levels was a strong indicator that the BTC price could be heading significantly lower.

He expects the BTC price to drop an additional 40 percent from the current levels. Meaning, the BTC price could sink all the way to $10,000 from here onwards. During his interview, McGlone said:

Initially, when the market broke down that was my indication it’s going to continue to break down because volatility is almost always a great indicator, particularly when you reach an all-time low. When markets breakout from a consolidating range with a good reason, it means it’s going down a lot lower. So that’s why I put out initially that Bitcoin might not reach a plateau until the $10,000-$12,000 area.

No long-term weakness in Bitcoin

In the past reports of Bloomberg Intelligence, McGlone had explained why he believes in the Bitcoin story. Like Gold McGlone believes that Bitcoin shall emerge as a valuable asset class in the future.

He further added that any short-term selling pressure caused by macro events such as the Fed rate hike isn’t a signal for long-term weakness. He said that on a five-year time horizon, institutional players face a greater risk of not allocating to crypto instead of avoiding it. Just like Bitcoin, McGlone is also positive about Ethereum. He said:

Everything is going down this year. This has been the worst year ever for stocks and bonds combined. I mean ever, if you go back 80 years…So to me, the risk is going forward that I think for most major institutions on a five-year basis at least, the risk is not being somewhat allocated to this space.

And I don’t mean the 20,000 highly-speculative cryptos that you can find on CoinMarketCap. I mean the top 10, the top 100, an index that tracks those. So definitely Bitcoin, Ethereum.

Yes, they could drop down, but to me an index that tracks those is just going to continue doing what it’s doing and these types of things often carve that foundation. The key thing to remember right now is the Fed is still pounding hard, all risk assets are going down. Cryptos were the fastest one on the way up and the fastest one on the way down.

Der Beitrag Bitcoin hasn’t found the bottom yet, drop of 40% still to come – Bloomberg analyst warns erschien zuerst auf Crypto News Flash.

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Blockchain

Ethora: The Degen Binary Options Trading Platform powered by AI, on Base Network

sky0x.eth

Published

7 days ago

on

July 20, 2024

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Ethora, the world’s most degen Binary Options platform powered by AI, is gearing up for its much-anticipated Initial DEX Offering (IDO). This revolutionary platform, designed by three DeFi enthusiasts and options trading experts, is set to transform options trading by offering ultra-short expiry Binary Options. From July 23 to July 29, Ethora’s IDO will take place across multiple prestigious launchpads:

  • Kommunitas
  • SuiPad
  • Spores
  • TrustFi
  • Huostarter
  • BscLaunch
  • WeLabs
  • KDG
  • Pixelrealm
  • Zenix Launchpad

Exciting News: Ethora Token ($ETR) Listing on MEXC Exchange

Mark your calendars for July 31 at 9 AM UTC! The Ethora token ($ETR) will be listed on the MEXC exchange, offering traders and investors a chance to engage with this pioneering platform.

Ethora: For Degens, By Degens

Ethora allows users to predict the movement of BTC and other asset prices in ultra-short time frames—up to 3 minutes—with instant payout and gratification. This innovative approach has already demonstrated remarkable achievements:

  • $20M volume in the first month of testnet
  • $2M fees collected by the platform
  • 15K community members
  • 25K Galxe participants

Key Product Advantages

  1. No Liquidation: Ethora offers a clearly defined risk-reward ratio, ensuring traders are free from the risk of liquidation.
  2. Quick Binary Options: Predict the price movement of BTC or other assets, whether Up or Down, in just 3 minutes, with instant payout.

Why Ethora?

  • Intuitive and Swift User Experience: Seamlessly designed for quick and efficient trading.
  • Short Expiry Binary Options: Trade with expiry times as short as 3 minutes.
  • One-Click, Gasless, Instant Trading: Experience trading without the hassle of gas fees.
  • Diverse Market Access: Wide range of assets available for trading.
  • Market Making Vaults: Earn up to 90% real yield through market-making vaults.
  • Powered by AI: Sophisticated algorithms in Ethora can empower binary options traders to trade 10 times better

AI and Machine Learning in Ethora

Automated trading has revolutionized the financial industry, offering unprecedented speed, efficiency, and accuracy. By leveraging advanced mathematical models and machine learning capabilities, Ethora trading algorithms can analyze vast amounts of data, identify patterns, execute orders, and manage risk—all at speeds unattainable by human traders.

Future Plans

Ethora is not just stopping with its current offerings. Here are some exciting future plans:

  • Integration with New Chains: Ethora will expand to new chains such as Berachain, Monad, and MegaETH, enhancing its reach and capabilities.
  • Listing of New Trading Pairs: Ethora will continuously add new trading pairs for trending coins to keep up with market demands.
  • New Product Features:
    • Between Range: A feature allowing users to predict if an asset’s price will stay within a certain range.
    • Copy Trading: A feature enabling users to replicate the trades of successful traders.
    • Chat Room: A social feature where traders can discuss strategies and market trends.
  • Deployment of Dapp Chain on Altlayer: Ethora will deploy its Dapp chain on Altlayer, using $ETR as the gas fee, enhancing scalability and efficiency.

About Ethora

Ethora ($ETR) is the world’s most degen AI Binary Options platform, powered by the Base network. Founded by three DeFi degens and options trading experts with backgrounds in various centralized exchanges and trading companies, Ethora provides a groundbreaking trading experience with its ultra-short expiry Binary Options and innovative features, powered by AI and machine learning.

For more information, visit Ethora’s website and follow us on Twitter and Discord for the latest updates.

Website: https://www.ethora.io/

Twitter: https://x.com/Ethora_ 

Discord: https://discord.com/invite/ethora 

Ethora’s IDO and token listing present a unique opportunity for traders and investors to join the most degen Binary Options platform in the market. Don’t miss out on this chance to be part of the future of options trading!

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$PRICK is the new PEPE: get a 75% token bonus ahead of the listing on OKX

Crypto Chain Wire

Published

1 week ago

on

July 16, 2024

By

$PRICK on Solana already has a community of 1 million users, an NFT collection with a 75% cashback for holders, and a Telegram game with a 200 SOL monthly prize pool. With several major CEX listings coming starting from July 22, $PRICK is ready for a fast expansion.

The incredible rise of $PRICK: from a meme to an ecosystem with NFTs and a clicker game

$PRICK stands for Pickle Rick, and it’s one of the most talked about memecoin ecosystems on Solana. What started as a fun meme quickly became an ambitious project boosted by its passionate community of almost 1 million users, including 240 thousand on X (Twitter) and 740 thousand on Telegram. 

So successful is $PRICK that at least three major exchanges have already agreed or tentatively agreed to list it, including OKX, BingX, Bybit, and BitGet.

What is it about $PRICK that makes users pick it over hundreds of other memecoins on Solana? There are multiple factors, including fair token distribution; very good price performance; a game with large prizes in SOL and $PRICK; and NFTs that make holders eligible for a raffle and a 75% cashback.

Robust and fair tokenomics

  • The team has burned all the initial LP tokens, then renounced contract ownership;
  • 10% of the circulating supply was purchased in the open market and locked to finance CEX listings, community airdrop, and token burns;
  • There is no tax on buying, selling, or sending $PRICK;
  • The rest of the 1 billion $PRICK supply is released smoothly at the rate of 1% a month. 

Positive price dynamics and potential

Since its DEX launch at the end of May, $PRICK has never gone below the initial listing price – something that very few Solana memecoins can boast of. At the same time, the price currently sits 70% below the ATH, creating an interesting opportunity for buyers ahead of the scheduled listings on OKS, Bybit, and BingX. 

Telegram clicker game

$PRICK is one of the first memecoins to launch its own Telegram clicker game, inspired by the success of Hamster Kombat and Notcoin. As players earn points and complete tasks, they climb the leaderboard and compete for a share of the monthly 200 SOL prize pool and large bonuses in $PRICK. 

Mint one of the 101 NFTs to get 75% back in $PRICK and a ticket for the 1,000 SOL raffle

Pickle Rick’s exclusive NFT collection was launched on July 15 and features only 101 NFTs, each with a unique hand-drawn design of the title character, Pickle Rick. The main advantage of holding a Pickle Rick NFT is a massive 75% cashback in $PRICK that each holder will receive once the token is listed on OKX or Bybit on July 22. 

 Moreover, upon the listing on Bybit, the project will hold a raffle for all its NFT holders with a prize pool of 1,000 SOL. 

The cashback is calculated as 75% of the mint price of 12 SOL, translated into $PRICK at the exchange rate on July 22 (the listing day). As of the time of writing, part of the collection is still available to mint, but users should act quickly so as not to miss this opportunity. 

OKX and other major CEX listings coming soon – and where to buy $PRICK right now

The team of $PRICK has successfully negotiated with several large crypto exchanges to list the token. The series of listings is scheduled to start on July 22 with OKX, followed by $PRICK launch on BingX, Bybit, and BitGet. 

The news of each new listing can cause a significant surge of the $PRICK price. Ahead of the listings on these major platforms, users can already buy $PRICK on the following exchanges:

Raydium (Solana): $PRICK/SOL, contract address 6zoshtkmyX4kRFg3p152yV2bPssxeYdNvW3c6EVCE4UP

MEXC: $PRICK/USDT

In less than two months, Pickle Rick ($PRICK) has built one of the most active meme ecosystems on Solana, with hundreds of thousands of loyal followers, a generous system of incentives, NFTs, and even a game. This is just the beginning, however, as the team promises even more bullish news in the coming weeks. 

Follow $PRICK on social media

Official website

X (Twitter)

Telegram

DexScreener

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Blockchain

4 Low-Cap Meme Coins to Watch for 2024

Team Bitcoin Daily

Published

2 weeks ago

on

July 11, 2024

By

Traditionally, meme coin season follows a surge in Bitcoin (BTC) prices, followed by Ethereum (ETH) and large-cap altcoins like Solana (SOL) and Avalanche (AVAX). This year, meme coins are garnering more attention than ever. Leading the pack are Dogecoin (DOGE) and Shiba Inu (SHIB), along with newer contenders like Bonk Inu (BONK), Wifi Coin (WIF), and Pepe Coin (PEPE). With potential factors like interest rate cuts and the US presidential election in the latter half of the year, Bitcoin and Ethereum could see significant gains, possibly ushering in a new meme coin season. Early investments in undervalued meme coins could yield substantial profits. Here are five promising low-cap meme coins to watch:

1. Dogecoin20 (DOGE20): The Cleaner, Greener Doge

  • Following a successful presale, Dogecoin20 (DOGE20) has surged 50% since launch and listed on decentralized exchanges (DEXs) earlier than expected. Built on the Ethereum blockchain (ERC-20), DOGE20 offers faster transaction speeds, lower fees, and an energy-efficient Proof-of-Stake (PoS) mechanism. DOGE20 also integrates staking rewards, encouraging long-term investment. With Bitcoin’s halving expected to limit supply and increase demand, and Doge Day adding cultural significance, DOGE20 is well-positioned for potential gains. As of July 9, 2024, It’s market cap stands at $2.2 million

2. KittyInu (KITTY):

  • Blockchain: Ethereum
  • Features: KittyInu is a meme coin with a cute cat theme, enjoying strong community support. The project engages in charitable activities, building a positive image, and expands its user base through various marketing campaigns. Recent upward trends have attracted more investor interest.
  • Potential: KittyInu’s focus on charity and marketing, combined with strong community backing, positions it for significant growth. As of July 9, 2024, It’s market cap stands at $1.9 million

3. Slothana (SLOTH): A Sleepy Success Story on Solana

  • Launched in April 2024, Slothana ($SLOTH) quickly gained attention in the Solana meme coin market. Utilizing Solana’s fast transaction speeds and low fees, Slothana has attracted developers and investors. The limited presale window, ending on April 29th, and endorsements from notable crypto figures like ClayBro have further fueled interest. As of July 9, 2024, Slothana’s market cap stands at $13 million, highlighting its growth potential.

4. Pigcoin (PIG): Leading Meme Coin on Polygon

  • Pigcoin (PIG) is the leading meme coin on the Polygon chain, boasting over 500,000 holders and ranking first on the chain by holder count. Launched in December last year, Pigcoin is listed on Mexc and Gate.io, with plans for additional listings. With a total supply of 3 trillion coins and 96% currently in circulation, Pigcoin’s market cap is only $4 million, indicating its undervaluation and potential for up to 100x gains. Pigcoin’s strong community and active listing efforts enhance its growth prospects.

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