Polkadot has broken out of the descending wedge pattern, suggesting a bullish reversal with a target of $6.5. Strong technical indicators and rising social interest support DOT's upward momentum. Polkadot [DOT] recently broke out of a long-standing descending wedge pattern, indicating a bullish reversal after a prolonged downtrend. Consequently, with key resistance levels and ambitious price targets emerging, optimism about a strong rebound is growing.
The rising volume and price indicate that the breakout is attracting attention, and if Polkadot remains above the critical level, it could lead to significant gains.
Why do most people still lose money in a bull market?
1. Poor position grasp: Even if an opportunity is seized, position management is a challenge. Easily scared off during market consolidation, leading to frequent chasing highs and selling lows. 2. Incorrect choice of cryptocurrencies: The coins bought do not rise, while those held by others do. Unable to bear the psychological gap, investors cut losses and switch positions, resulting in being stuck, and then cutting losses again, creating a vicious cycle. 3. Lack of understanding of cycles and lack of rhythm: Easily influenced by market sentiment, lacking clear expectations for market peak cycles and target positions. 4. Blind confidence at high levels: As prices rise, confidence increases, even to the extent of borrowing or selling homes to enter the market. The frenzy of the bull market makes it particularly evident that inexperienced investors are everywhere.
As the saying goes, many hands make light work. Currently, in the low regions of Ultra-Zero and DOT, all community partners should strive to push the market. Everyone should buy some coins and then wait. Can the ecosystem operate without staking? Will there be reserve funds? Everyone should contribute to the prosperity of the ecosystem, promote it, and achieve their own growth. Only when the bull market comes can all partners work together to fuel it.
Odaily Planet Daily News Billionaire and American venture capitalist Tim Draper stated this week that if Bitcoin rises to $100,000, it could enable El Salvador to repay its International Monetary Fund (IMF) loans "and never have to negotiate with them again." It is reported that El Salvador owes approximately $80 million to the IMF, while holding 5,913.76 BTC. Therefore, if Bitcoin rises to $100,000, El Salvador would gain $189 million from its Bitcoin holdings, exceeding its IMF loan. However, this calculation is based on the following two assumptions: 1. Assuming that the country's Bitcoin is not pledged, meaning it has not been used for other purposes or pledged against other loans or contractual obligations; 2. Assuming non-IMF debts, which amount to billions of dollars, are ignored, i.e., the country would be able to revalue its debts.
#What impact will the US interest rate cut in November have on the crypto market?##Crypto Observer#The impact of the Federal Reserve's interest rate cut on the crypto market (cryptocurrency market) is multifaceted, specifically including the following aspects: 1. Increased liquidity: The Federal Reserve's interest rate cuts typically increase market liquidity, leading to funds flowing out of traditional markets such as bonds and banks into risk assets like stocks and cryptocurrencies. This flow of funds may drive up cryptocurrency prices. 2. Improved market sentiment: Interest rate cuts are usually interpreted as the central bank's support for the economy, which may enhance market sentiment and attract more investors into the cryptocurrency market, thereby pushing prices up. 3. Impact on Bitcoin price: The price of Bitcoin (BTC) has historically tended to rise after Federal Reserve interest rate cuts. For example, during the 2019 interest rate cut cycle, BTC briefly surged after the first cut, but then entered a downward channel overall, although the retracement was relatively small. 3. Changes in stablecoin market value: The market value of stablecoins (such as USDT and USDC) may increase after interest rate cuts. For instance, the market value of USDT rose from $117 billion to $118.7 billion in the past month, with nearly $1.7 billion of inflow. 4. Market volatility: Interest rate cuts may lead to increased market volatility. The cryptocurrency market itself is already highly volatile and uncertain; the influx of new funds may exacerbate this volatility, leading to significant price fluctuations. 5. Stability of global financial markets: The Federal Reserve's interest rate cuts may trigger instability in global financial markets. If traditional financial markets experience significant fluctuations, it may negatively impact investor confidence, which in turn could affect the cryptocurrency market. 6. Regulatory policy impact: The development of the cryptocurrency sector is also influenced by various factors, including regulatory policies. While the Federal Reserve's interest rate cuts may bring about changes in fund flow and market sentiment, the attitude of regulatory agencies towards cryptocurrencies remains an important uncertainty. If regulatory bodies strengthen oversight of the cryptocurrency market, it may hinder its development and offset some of the positive effects brought by the Federal Reserve's interest rate cuts.
Musk, Brazil, Japan 1. Musk will attend Trump's rally at Madison Square Garden in New York; 2. Total NFT sales in the past week were $89.26 million, a decrease of 7.11% from last week; 3. The Brazilian central bank emphasized the potential of tokenization to the International Monetary Fund and the World Bank; 4. Bitwise Alpha's chief strategy officer: a moderate BTC allocation will arm companies with a golden shield; 5. Billionaire Chamath: Bitcoin will become the most important inflation hedge asset in the next 50 to 100 years; 6. Companies like Mitsubishi UFJ Trust and Banking, Nomura Securities, and Daiwa Securities proposed launching a cryptocurrency ETF in Japan.
At the Bitcoin 2024 conference held in Nashville, Tennessee, former President Trump delivered a keynote speech, after which Wyoming Senator Cynthia Lummis introduced the Bitcoin Strategic Reserve Act in the U.S. Senate, aiming to gradually acquire 5% of the total Bitcoin supply. Microstrategy CEO Michael Saylor praised the initiative as the equivalent of the Louisiana Purchase of the 21st century. However, Cardano founder Charles Hoskinson believes that while the adoption of BTC as a strategic reserve asset would increase its price, it would also allow state actors to influence the Bitcoin network.