Bitcoin
Bitcoin About To Mimic Japanese Stock Market’s Incredible Late 1980s Rally: Crypto Analyst
Published
3 months agoon
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adminA popular crypto analyst thinks Bitcoin (BTC) is currently mirroring the Japanese stock market’s giant rally about four decades ago.
The pseudonymous analyst TechDev shares charts with his 467,400 followers on the social media platform X that compare BTC’s performance since 2010 with the performance of the Nikkei 225, a price-weighted index that tracks 225 blue-chip companies trading on the Tokyo Stock Exchange, between the years 1950 and 2000.
TechDev’s charts suggest Bitcoin could crack $760,000 sometime between 2028 and 2029 before witnessing a multi-year bear market.
The top-ranked crypto asset by market cap is trading at $59,621 at time of writing.
The analyst also shares a chart that has a line for Bitcoin’s price and a line that pits the Chinese 10-year bonds (CN10Y) against M2SL, the seasonally adjusted measure of money supply in the United States.
Based on the trader’s chart, he appears to suggest that an expansion in the CN10Y against M2SL would trigger big Bitcoin rallies.
Last month, TechDev noted in a newsletter that he was optimistic about the recent downturn in the crypto market.
“Obviously, there is extreme fear in the market. The last two weeks were filled with ‘told you’ comments from doomer bears – on a retest to $48,000 levels they previously said would never be reached the last time they were doom-posting at $25,000.
Exactly what I like to see. The fact that it came at a time when global macro conditions are pointing up makes it nothing more than two weeks of loud noise to me. More like the last six months.
It’s usually the case in all speculative markets, but the last two years have reflected this more than any other time in the crypto market – it doesn’t move up until X is scared absolutely shitless. That was the case at $15,000 after the FTX crash, at $20,000 after regional banks were failing, at $38,000 after the brutal post-ETF wick, and now.
What you’ll also recall is how much sentiment can whiplash in a couple of weeks. Expecting it again. All the while, the global cycle continues to point higher.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Changpeng Zhao critiques meme coins, suggests projects should focus on utility
Published
48 mins agoon
November 26, 2024By
adminFormer Binance CEO Changpeng ‘Cz’ Zhao has criticized the growing trend of meme coins, suggesting that blockchain developers should focus on utility-driven projects.
In a Nov. 26 X post, Zhao wrote that meme coins are becoming “a little weird” and urged developers to focus on creating “real applications” that provide practical utility rather than prioritizing hype-driven projects.
CZ’s comments have reignited the debate around the meme coin hype, drawing attention to their lack of real-world value.
Meme coins largely rely on viral marketing and social media frenzy to generate short-lived investor interest. While they can deliver quick profits for some, they typically lack utility or tangible applications, leaving most holders with significant losses once the initial excitement fades.
CZ’s statement comes amidst the controversy around Solana-based meme coin deployer Pump.fun, where a livestream feature intended to boost engagement was exploited in disturbing ways, including threats of self-harm and inappropriate content.
One particularly troubling incident involved a user threatening to hang themselves if their token failed to reach a predetermined market cap. The situation escalated further when the individual later shared a video allegedly showing them acting on the threat.
Concerns over meme coins extend beyond their misuse on specific platforms. A CoinWire study reported that meme coins promoted through social media, particularly on X, tend to lose 90% or more of their value within three months.
Such trends undermine trust in the broader cryptocurrency industry, diverting attention from projects with genuine utility and innovation and fuelling skepticism among potential adopters and regulators about the sector’s long-term viability.
Other prominent figures in the industry have also criticized meme coins for their lack of utility and meaningful contribution to the crypto ecosystem. Ripple CEO Brad Garlinghouse has argued that tokens like Dogecoin fail to offer meaningful real-world applications.
Similarly, Ethereum co-founder Vitalik Buterin criticized the trend of celebrity-endorsed meme coins earlier this year.
In a June X post, Buterin stressed that financialization is only justified if it brings value to society and cited sectors such as healthcare and open-source software as examples of areas where blockchain can provide societal benefits.
Utility-driven blockchain initiatives form the foundation of the industry’s long-term viability.
Projects such as Axie Infinity, which enables players to earn income through gameplay, and AI-focused tokens like Fetch.ai, which powers autonomous machine-to-machine interactions, exemplify how blockchain technology can address real-world problems and revolutionize traditional industries.
According to CoinGecko data, the total market capitalization of meme coins has reached $120.27 billion, exceeding that of sectors like GameFi ($24.1 billion) and AI-focused tokens ($39 billion).
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Bitcoin
Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained
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2 hours agoon
November 26, 2024By
adminRonaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.
Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.
Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.
One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.
Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.
Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.
However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.
Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.
With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.
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Bitcoin
You Can Now Invest In Bitcoin And Open-source Companies
Published
10 hours agoon
November 26, 2024By
adminBitcoin and open-source companies are some of the most exciting and innovative companies out there today. There are a handful of companies I personally think are going to exponentially grow as bitcoin increases in price and becomes a more established asset class, and if investing in them was available to non-accredited bitcoiners like me, it would be a no-brainer.
But today, that may have just changed. Timestamp, a new platform that allows accredited and nonaccredited investors to invest in Bitcoin and open-source companies, has officially launched. Timestamp promises users they can invest in Bitcoin companies with “low investment minimums” where users can review offerings, connect directly with the founders of these companies, and explore curated opportunities. Sounds pretty cool!
The idea of making investing in Bitcoin and open-source companies more accessible to plebs really interests me, and I feel that many other Bitcoiners would agree. After working in this industry for a few years, I’ve definitely noticed that finding funding to support open-source companies and projects can be pretty difficult. But a platform that allows a lot more people to join in on investing in and supporting these companies could really be a game changer.
At launch, users can now invest in the first batch of Bitcoin companies on the platform:
CASCDR — a suite of AI services payable in Bitcoin
Jippi — a gamified education app that helps Bitcoin beginners learn and earn
Lightning Bounties — a Github-integrated platform that rewards software developers with Bitcoin for their contributions
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Sovereign — a wallet built for the Bitcoin standard
I’ll definitely be paying attention to what other companies are added to this platform in the future, and I think you should too.
Over three years ago, I asked Timestamp’s founder and CEO, Dr. Arman Meguerian, to speak with me on stage at the Bitcoin 2021 Conference in Miami, and he joined me for a great conversation on Bitcoin maximalism with a few other great Bitcoiners. I am really excited and happy to see him launch this company after building it quietly through the bear market these last couple years, and looking forward to seeing all they achieve!
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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