Kamala Harris
3 Altcoins That Could Be Weekly Gainers Next Week
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2 days agoon
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adminThe cryptocurrency market is experiencing heightened volatility and investor interest ahead of the U.S. presidential election approaches. Historically, political events of this magnitude have significantly impacted the digital market, and certain altcoins witnessed a significant boost. Here are three altcoins that could climb the weekly gainers chart in the coming week.
Top 3 Altcoins Poised for Gains in the Coming Week
Millions of American voters will head toward the polls on November 5 to elect the 47th President of the United States. The crypto investors eagerly awaiting election results as a crypto-friendly representative could ease regulatory challenges for this market and bolster a major bull run. With the crypto market today, here are three altcoins that could rise to the highest gainers in the coming week.
MAGA (TRUMP)
MAGA (TRUMP) is a politically themed cryptocurrency associated with Donald Trump’s “Make America Great Again” movement. If Trump secures victory, the MAGA price could witness a decisive result day.
According to Coingecko, TRUMP coin trades at $3.23 while holding a market cap of 143.2 Million. The asset currently seeks support at a $3 floor to maintain a cup and handle reversal pattern. Theoretically, this shows a U-shaped recovery and temporary consolidation before initiating a major rally.
With sustained buying, the TRUMP price could rally 70% even before offering a bullish breakout from the pattern’s key resistance trendline at $5.5.
Kamala Horris (KAMA)
Kamala Horris (KAMA) is a satirical cryptocurrency inspired by Vice President Kamala Harris, blending political commentary with the meme-driven nature of the crypto market. Defying the altcoins pullback, the KAMA price 4-day rally from $0.0065 to $0.013, accounting for a 100% surge.
This recovery breaks the key resistance of $0.011, bolstering buyers with the formation of a rounding bottom pattern. This class reversal pattern signals an accumulation phase in the Kamala Horris coin.
If Kamala Harris takes wins, the KAMA price could push $0.06 high.
Solana (SOL)
Amid a political event of such influence on the crypto market, the meme altcoins often witnessed major movement due to their volatility. As Solana blockchain stands among the top choices for launching meme assets, the increased activity could boost its native cryptocurrency, SOL.
Currently, the Solana price prediction shows a trading value of $166.2 with a market cap of $78.39 Billion. If the bullish momentum persists, the SOL price could rise 8.7% to challenge a resistance trendline that has been intact for the last 8 months.
A potential breakout will intensify the bullish momentum for a major rally.
Conclusion
With the U.S. presidential election nearing, the cryptocurrency market could see significant shifts. Altcoins like MAGA (TRUMP), Kamala Horris (KAMA), and Solana (SOL) are poised for potential gains, driven by political sentiment and market momentum.
Frequently Asked Questions (FAQs)
The three altcoins that could see significant gains next week include MAGA (TRUMP), Kamala Horris (KAMA), and Solana (SOL).
Solana is one of the leading blockchains for launching meme assets, and its native cryptocurrency, SOL, could benefit from increased activity if politically themed meme coins become more prominent
Horris (KAMA) recently saw a 100% surge within four days, breaking key resistance at $0.011 and forming a bullish rounding bottom pattern
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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debt
US Treasury Adds $104,000,000,000 To National Debt in One Day As Total Outstanding Debt Shatters Record High at $35,951,000,000,000
Published
13 hours agoon
November 4, 2024By
adminThe US national debt just hit a new record high after the Treasury Department added $104 billion to its outstanding balance in a single day.
The Treasury’s Debt to the Penny database shows the government’s pile of debt is close to $36 trillion, clocking in at $35.951601173936 trillion.
The US shattered the $35 trillion barrier in late July.
The grim milestone comes as a study from the nonpartisan Committee for a Responsible Federal Budget shows both presidential candidates will add trillions more to the national debt.
The CRFB says a Harris presidency could add $3.5 trillion to the debt over ten years, while a Trump presidency could add 7.75 trillion in the same time frame.
However, the agency warns its models have a wide range of possible spending outcomes.
“Our estimates come with a wide range of uncertainty, reflecting both different interpretations and estimates of the policies.
Under our low- and high-cost estimates, we estimate Vice President Harris’s plan could increase debt by between $300 billion and $8.30 trillion through 2035, while President Trump’s plan could increase debt by between $1.65 and $15.55 trillion.”
The agency says its estimates reflect the “expected fiscal impact” of the policies that the candidates have laid out on their campaign websites, official announcements, white papers and social media posts.
“The national debt currently stands at 99% of Gross Domestic Product (GDP) and is projected to grow from 102% of GDP at the start of FY 2026 to 125% by the end of 2035 based on the Congressional Budget Office’s (CBO) current law baseline.
The debt will exceed its record as a share of the economy – 106% set in 1946 – in just three years. Debt would continue to grow faster than the economy under either candidates’ plans and in most scenarios would grow faster and higher than under current law.”
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Bitcoin
Trump’s Polymarket lead weakens, Bitcoin drops to $68,000
Published
1 day agoon
November 3, 2024By
adminPolymarket data shows Republican presidential nominee Donald Trump’s lead over his Democratic opponent, Vice President Kamala Harris, has weakened but remains dominant.
As per the data, the twice-impeached former president’s odds declined from 66.9% to 54%.
Meanwhile, Harris has seen a substantial increase in her chances, rising from 33.5% to 46.1%. This shift reflects changing market sentiment as Election Day, Nov. 5, approaches.
Built on the Ethereum blockchain, Polymarket allows its users to buy and sell shares in different real-world outcomes by betting a stablecoin (USDC), rather than more volatile cryptocurrencies.
According to the Wall Street Journal, a Polymarket gambler known as Théo is wagering more than $30 million on a Trump victory.
Iowa poll, Epstein tapes
The shift in momentum comes as the latest Des Moines Register/Mediacom poll results bode well for Harris.
According to Ann Selzer, a prominent American pollster known for being highly accurate, Harris leads Trump in Iowa by three percentage points.
According to the poll, Harris retained 47% support compared to Trump’s 44% among likely voters. This represents a major swing from September’s poll, which showed Trump having a 4-point advantage.
Selzer told Newsweek that the same methodology was used this year as in 2016 and 2020 — two years when Trump won Iowa.
Meanwhile, The Daily Beast recently published recordings from interviews author Michael Wolff conducted in 2017 with convicted sex trafficker Jeffrey Epstein.
Epstein, who spoke at length during the interviews about his decade-long friendship with Trump, died in August 2019 at a New York City prison, where he was awaiting trial.
Trump and Harris have varied crypto stances
The candidates’ positions on cryptocurrency regulation have become increasingly relevant to investors. Trump has emerged as a vocal supporter of crypto.
He has even made a public commitment to back cryptocurrency during a May event at Mar-a-Lago. Trump’s campaign’s decision to accept crypto donations further strengthens this pro-crypto stance.
Harris’s approach to crypto has been more measured. In September, she indicated her administration would support crypto as part of a broader strategy to enhance economic competitiveness.
While her statements have been less definitive than Trump’s explicit endorsements, Harris received an endorsement from Ripple(XRP) co-founder Chris Larsen, who donated over $11.8 million to her campaign.
Larsen told CNBC that he believes the Democratic candidate will take a completely different approach to crypto than President Joe Biden, who has been criticized for picking Gary Gensler to chair the U.S. Securities and Exchange Commission.
As state polls and Polymarket predictions continue to show volatility, Bitcoin’s (BTC) price has reflected the uncertain political environment.
This is evident from its recent price drop to $68,000. According to the latest data, the global crypto market cap has plunged by 1.95% to $2.28 trillion.
Bitcoin went as low as $67,300 but managed to climb above $68,000 at press time. Ethereum (ETH) is no exception, as it fell to the $2,400 level.
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BlackRock Bitcoin ETF Inflows Hit Speedbreaker As US Election Odds Shift
Published
3 days agoon
November 2, 2024By
adminOn Friday, the total inflows into US spot Bitcoin ETFs finally hit a speedbreaker as the dynamic of the US elections shifted just three days before the results. Kamala Harris seems to be taking the lead in some of the swing states while Donald Trump continues to lead in others. All of the nine BTC ETFs yesterday, saw net outflows of $55 million with the BlackRock Bitcoin ETF (IBIT) seeing zero inflows for the first time in nearly a month.
BlackRock Bitcoin ETF Inflows Hit Speedbreaker
This week, except Friday, BlackRock’s IBIT led the most inflows contributing nearly around $2.2 billion so far. It has been single-handedly dominating the BTC ETF inflows in the last month of October.
However, on Friday, the spot Bitcoin ETF inflows hit a speedbreaker with $54.9 million in outflows. Fidelity reported $25.6 million in outflows, followed by ARK with $24.1 million, per Farside Investors data. On the other hand, the BlackRock Bitcoin ETF registered zero inflows for the first time in the past several trading sessions. This signals a possible pause in the demand after record-breaking contributions.
The spot Bitcoin ETFs have seen significant inflows and now hold more than 5% of the total BTC supply, surpassing 1 million Bitcoin holdings. Interestingly, BlackRock’s IBIT alone holds 2% of the total supply.
💥BREAKING: Yesterday the Spot #Bitcoin ETF saw $54.94 MILLION outflow! pic.twitter.com/kUEF6icGf6
— Crypto Rover (@rovercrc) November 2, 2024
Furthermore, Friday’s outflows coincide with a shift in the US election dynamics as Kamala Harris once again gains ground in the swing states. Thus, investors could be taking a wait-and-watch approach moving ahead.
Is Donald Trump Losing Ground?
As per the Polymarket data, the odds of Doland Trump victory slipped 4.5 percentage points on Friday, with his overall winning prediction now at 58.1% while Kamala Harris has gained the same amount moving to 41.9%.
As a result, the broader crypto market has paused waiting for some clear indications for the further move. After moving all the way to $73,000 earlier this week, the Bitcoin price has once again dropped under $70,000 as of October closing.
Popular crypto analyst Ki Young Ju noted that ETF flows would be crucial for Bitcoin to gain further highs. He wrote:
“Stablecoins alone can’t provide enough buy-side liquidity for Bitcoin. The BTC-to-stablecoin ratio is 6.05, meaning BTC reserves are six times higher than stablecoins, similar to the last ATH. ETF flows and Coinbase USD liquidity will be crucial for the next few months”.
Apart from Bitcoin, altcoins have also been under a bit of selling pressure with the Ethereum (ETH) price slipping to $2,500 as bulls fail to gain enough traction.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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