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According to recent reports, the Industrial and Commercial Bank of China (ICBC), which is the world's largest bank by assets, views
Bitcoin
as the equivalent of digital gold and
Ethereum
as "digital oil."
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Polkadot ($DOT ) Primed for Takeoff? Analysts Predict Big Price Movement! Polkadot's DOT token has been on a tear this week, surging 12% and currently trading around $6.30! This hot streak has analysts buzzing with predictions of further growth and even a potential bull run! Eyes on the Prize: Popular analysts like Michael van de Poppe see DOT breaking resistance and rallying to $22 if it can break above $9.29. Others predict a more conservative but still bullish climb to $17-22. Long-Term Potential: Rekt Fencer throws down the gauntlet with a bold prediction of DOT reaching a new all-time high of over $60 by year's end, fueled by the AI race. Crypto Tony identifies $5.70 as a crucial support level and promises to buy in if DOT holds above it for a few weeks. Will DOT defy gravity or face a reality check? Stay tuned for the next chapter in the Polkadot saga! #DOT #Polkadot #PricePrediction #BullRun
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Polkadot (DOT) is experiencing intensified selling activity, with a significant breach below the crucial $6 support region. This bearish trend could continue unless it proves to be a false breakout. The daily chart shows aggressive selling near the $6 support region, indicating a lack of sufficient demand. The price has breached the substantial $6 support, a notable bearish sign. The 100-day moving average is also on the verge of crossing below the 200-day moving average, signaling a death cross and further bearish sentiment. The 4-hour chart shows significant rejection near the $6.8 supply zone, indicating sellers' dominance. The price action in the coming days will determine the breakout’s validity. If a pullback occurs and holds below the $6 mark, the continuation of the bearish trend will be imminent. The futures market sentiment also suggests a prevailing bearish sentiment. However, this bearish breakout might end up being a false one, indicating a bear trap. The market needs a change in the upcoming days to bring demand back into the market and reverse the bearish trend.
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#Dot #Polkadot Analysis 2024 **Price Prediction:** * **Bullish Scenario:** $120-$150 * **Bearish Scenario:** $45-$60 * **Most Likely Scenario:** $70-$90 **Factors Influencing the Price:** * **Network expansion:** Polkadot's expanding ecosystem of parachains and bridges will drive adoption and demand for DOT. * **Governance and decentralization:** Polkadot's unique governance system and high level of decentralization will attract investors seeking security and stability. * **Interoperability:** Polkadot's ability to seamlessly connect different blockchains and facilitate cross-chain transactions will increase its value proposition. * **Competition:** Competition from other Layer 1 platforms, such as Ethereum, Solana, and Cosmos, will challenge Polkadot's growth. * **Regulatory landscape:** Regulatory changes or uncertainties could impact the adoption of cryptocurrencies, including Polkadot. #Whale Chances Whales, or large holders of cryptocurrencies, have a significant impact on market fluctuations. Based on current data and historical patterns, here are the chances of whale activity in Polkadot in 2024: * **Whale Accumulation:** Moderate to High * Polkadot's long-term potential and favorable fundamentals may attract whales looking to accumulate assets for future appreciation. * **Whale Distribution:** Low to Moderate * While some whales may distribute their holdings to realize profits, the overall distribution pressure from whales is expected to be limited as they have interest in maintaining a position in Polkadot. * **Whale Market Manipulation:** Low * Polkadot's large market capitalization and high trading volume make it less susceptible to price manipulation by whales. **Note:** Whale activity is highly volatile and can change rapidly based on unexpected events or market conditions. Investors should monitor market data and news closely for any signs of significant whale movements. #StayCalm #StayPositive #dottothemoon
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🚨 This is out of control 🚨: In the first 8 months of Fiscal Year 2024, the 🇺🇸 US deficit hit a whopping $1.2 trillion, or $4.9 billion PER DAY. In May alone, deficit spending was $348 billion or $11.2 billion a day, according to the CBO. Over the last 12 months, the US deficit totaled $1.7 trillion equaling 6.2% of US GDP. Deficit spending as a % of GDP is above all previous recessionary levels except for the 2008 Financial Crisis, the 2020 pandemic, and World War 2. At the same time, government expenditures hit $6.5 trillion which is 23% of US GDP. The government is spending as if we are in a recession.
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🥺Premature End of Altcoin Season! Here's Why AltSeason Maybe Fizzling Out FAst The crypto market is shifting, and it’s casting a shadow over the potential for an altcoin season. Altcoin season, or "altseason," is when altcoins outperform Bitcoin significantly. This shift is tracked by Bitcoin’s dominance in the market and the price performance of altcoins. Bitcoin dominance measures Bitcoin's share of the total cryptocurrency market cap. During altseason, this dominance drops as investors move capital into altcoins. A significant drop in Bitcoin dominance signals an altcoin season. Earlier this year, Bitcoin's dominance fell from 54% to 50% in January. However, it has since rebounded, reaching 55% last month—the highest since the March 2021 crash, when dominance fell from 70% to 40%. Altcoins usually see substantial price increases during altseason, often outpacing Bitcoin. Altseason is typically active when 75% of the top 50 altcoins outperform Bitcoin over three months. In the last 90 days, only eight cryptocurrencies have outperformed Bitcoin. Even the meme coin hype and spot Ethereum ETF buzz failed to lift altcoins significantly. Several factors contributed to the premature end of altseason: 1. Bitcoin’s Strength: The rising demand for Bitcoin, especially after the successful launch of a spot BTC ETF, has overshadowed altcoins. 2. Market Conditions: Bearish market trends and broader macroeconomic factors have dampened investor enthusiasm for altcoins. Predicting the next altseason is tricky due to the inherent volatility of the crypto market. However, a pattern has emerged since 2022: - August 2022: Second-to-last altseason. - Six months later: Bitcoin season began. - January 2023: Most recent altcoin season started. - Five months later: Bitcoin season again. If this pattern continues, we might expect the next altseason in approximately seven to eight months, around February 2025. Looking like crypto degens wont be getting rich quick in 2024!😭😭 #BTC #BTC #altseason #altcoins $BTC $ETH
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