#BTC Bitcoin - Many got poked at resistance levels. Now that we are at the bottom of the channel, you now have a more reasonable opportunity to buy. But right now most people are probably panicking.
Let’s sort out some important information about BTC this week:
- Today the SEC took a hit on the ideology that all altcoins are “unregistered securities.”
- The Fed is about to move away from their most aggressive tightening ever and will likely need to cut interest rates next year.
- The United States is considering launching a spot Bitcoin exchange-traded fund (ETF), which could bring hundreds of billions or even trillions of dollars into Bitcoin as an asset class.
- Many investors are still on the sidelines from the trauma of the bear market.
$Rose, a coin with great potential to increase 100 times in the next cycle
Let’s talk about Oasis Network and their Rose token.
In the previous cycle, it reached a price of 55 cents. It is currently trading at a much lower price, but I think this coin has very high potential in the next cycle as it touches on a lot of important topics and has a lot of big name backers.
One of the most compelling themes is the narrative of artificial intelligence (AI). Oasis is a layer 1 blockchain and an AI token. Many of their partners work in key sectors in the AI field.
The founder of Oasis is computer scientist Don Song, who is very focused on AI and is cited many times in the founding documents of Chat GPT. And Oasis is working with a company engaged in AI technology, which is Meta, the founding company of Facebook.
U.S. Securities and Exchange Commission (SEC) Says Insufficient Documentation in Bitcoin Spot Application - WSJ
However, BlackRock could still re-apply for a Bitcoin spot exchange-traded fund (ETF)… In my opinion, this news is just noise. Want cheap chips.
Here are the important wordings:
"The SEC told the exchanges that they returned the applications because the applications did not list the names of Bitcoin spot exchanges with which they expected to have "monitoring sharing agreements," nor did they provide sufficient information about the details of these monitoring arrangements. Asset Management Company It is possible to update the wording and resubmit the application."
This could even be interpreted to mean that the SEC is giving BlackRock instructions on what they need to do to get through and get approval... which is obviously a positive.
The best way to lose your pants is to bet on low-volume altcoins with leverage.
If you really want to trade with leverage, only $BTC and $ETH are the best options, with the exception of those with the highest daily gains. But other than that, you're just betting on random altcoins with less than 100 million trading volumes. It’s like playing Lucky Guess! See who can guess which altcoin will suddenly surge in price! Occasionally, if you are lucky enough to make a profit, there is only one final result: losing everything!
A roundup of cryptocurrency court cases in the coming months
There will be a lot of developments in cryptocurrency court cases in the coming months. Each ruling has the potential to have an impact on other pending cases. Here’s a look at the status of some key cases and upcoming deadlines…
1. SEC v. Ripple: Awaiting Judge Torres’ key ruling on opposition to summary judgment motion. It is uncertain whether a judge will consider the issue of secondary sales of $XRP.
2. SEC v. Bittrex: (June 30) Deadline for Bittrex to file motion to dismiss.
3. SEC v. Genesis and Gemini: (July 21) The SEC responded to Genesis and Gemini’s motion to dismiss, stating that the “Earn Plan” was not correctly classified as a security.
Trading below the $250 to $265 range is a bear market. A drop below $200 is very likely in July. If it falls below $150, I think it would be a long-term buy. The next 3-4 weeks are very bearish for $BNB.
$ROSE (Oasis Network)
The previous support turned resistance level is located in the $0.052 area. A continued decline may push it to the support area of $0.035 or $0.027. The opening price in early 2023 is $0.034, which may be tested.
$RNDR
Rejected after a failed return at $2.4. $2.2 currently forms daily resistance, with weekly support below $1.6/$1. If it can break above $1, it could be a very good long-term buying opportunity.
The possibility that the next bull market will be the last is a question widely circulated in the cryptocurrency community. I can understand this situation.
Thinking that the next bull market might be the last puts you in a "speed up" mode.
Let me share my opinion:
Many people believe that the massive speculative boom affecting cryptocurrencies is a bad thing, as people always view the industry as a short-term gambling game.
In my opinion, there is a positive side to speculation.
People get into cryptocurrencies mainly to make money from small investments.
A radical transformation is coming, and everything around you will run on digital rails. Everything of value will be tokenized on the blockchain. Stablecoins, central bank digital currencies, everything is coming, happening, and is inevitable. There are a few projects in this space that are key pieces that are being put together.
Pay more attention to $XRP, $HBAR, $QNT, $XLM, $CSPR, $XDC and other projects. In the past 24 months alone, we have seen so much happen to the global system.
Most people are blind to what is coming, you need to wake up and see the changes that are happening
Notice! Jump has started transferring $MATIC to B2C2, Cumberland, and Wintermute, who then deposit it into Coinbase and Binance. Jump still has $MATIC worth $12.5 million in his wallet. #matic #BTC
The $INJ resistance range is likely to see a pullback between $7.9 and $8.2, and if the price remains below this range, another decline to $6.5 could occur in early July.
Once $8.2 breaks out and turns into support, the bullish trend will resume. #inj #BTC #ETH #INJ
90% of the cryptocurrency community expects Bitcoin ($BTC) to be between $35,000 and $40,000 to be the apex of this “bear market rally.”
Everyone around me was betting on this scenario. “Sell at that price and buy low” “This market is easy to predict” “I would triple my position!”
I don't want to say they are necessarily wrong. Just wanted to let you all know that statistically when everyone focuses on the same scenario, things usually don't go as expected.
I don't care what other people are saying.
My vision remains the same: create new all-time highs before the end of 2023📈.
This will be the last cycle without regulation. Possibly the most extreme cycle ever. let us wait and see