Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: tobiluxy on November 12, 2024, 08:49:26 AM
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BTC Surge: Bitcoin is approaching $90,000, fueled by frenzied market sentiment. MicroStrategy’s $2 billion BTC purchase has intensified the momentum, pushing BTC funding rates into a high-risk range of 0.05-0.1%. U.S. stocks also hit new highs, with notable gains in Tesla.
New Binance Listings: ACT and PNUT:
ACT: An AI meme token and the first major listing in the AI meme category, ACT is positioned as a highly speculative asset with potential valuation exceeding $2 billion, comparable to Neiro. Its unique listing approach shows Binance’s favor towards high-risk, low-market-cap tokens.
PNUT: A “political meme” coin associated with Elon Musk. It’s listed on both Binance and OKX, capitalizing on exclusive listings and speculative interest.
DOGE and Meme Sector Dynamics: DOGE surged with a $50 billion market cap, now the top performer on Binance over the past month with a 220% gain, linked to Musk’s influence. New meme tokens like ACT and PNUT quickly attracted investment, showing the volatile and fast-moving nature of the meme sector.
AI Projects on the Rise: AI-related tokens (IO, WLD, RENDER, GRASS) are gaining traction, driven by ACT’s performance and the ongoing interest in AI sector investments. Let's discuss more of this insight
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The Bitcoin surge to nearly $90,000 fueled by MicroStrategy's $2 billion purchase definitely reflects bullish market sentiment. This whole bullish trend, combined with US stock market gains particularly I think tesla, indicates a positive trend although I believe the market drive currently is based on trading effects.
The volatility of the meme sector's is evident in DOGE's 220% gain and the rapid growth of some new tokens like ACT and PNUT.i guess Elon Musk's influence and Binance's listing strategies contribute to their popularity. As AI-related projects gain traction, investors should consider both potential opportunities and risks involved. The fact is at this point I really can't predict accurately if we'll be getting to 6k sooner.
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The Bitcoin surge to nearly $90,000 fueled by MicroStrategy's $2 billion purchase definitely reflects bullish market sentiment. This whole bullish trend, combined with US stock market gains particularly I think tesla, indicates a positive trend although I believe the market drive currently is based on trading effects.
The volatility of the meme sector's is evident in DOGE's 220% gain and the rapid growth of some new tokens like ACT and PNUT.i guess Elon Musk's influence and Binance's listing strategies contribute to their popularity. As AI-related projects gain traction, investors should consider both potential opportunities and risks involved. The fact is at this point I really can't predict accurately if we'll be getting to 6k sooner.
You are right Bitcoin recent surge to nearly $90000 fueled by MicroStrategy $2 billion investment shows strong positive trend. This combined with US stock market gains and especially Tesla growth indicates bright outlook. However trading activity largely drives this momentum. Some cryptocurrencies like you mentioned DOGE have seen rapid growth while others like ACT and PNUT gain popularity thanks to Elon Musk influence and Binance listings. As AI related projects grow investors must balance potential gains with risks. But we must have plan which we should apply when it is needed
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The Bitcoin surge to nearly $90,000 fueled by MicroStrategy's $2 billion purchase definitely reflects bullish market sentiment. This whole bullish trend, combined with US stock market gains particularly I think tesla, indicates a positive trend although I believe the market drive currently is based on trading effects.
The volatility of the meme sector's is evident in DOGE's 220% gain and the rapid growth of some new tokens like ACT and PNUT.i guess Elon Musk's influence and Binance's listing strategies contribute to their popularity. As AI-related projects gain traction, investors should consider both potential opportunities and risks involved. The fact is at this point I really can't predict accurately if we'll be getting to 6k sooner.
You are right Bitcoin recent surge to nearly $90000 fueled by MicroStrategy $2 billion investment shows strong positive trend. This combined with US stock market gains and especially Tesla growth indicates bright outlook. However trading activity largely drives this momentum. Some cryptocurrencies like you mentioned DOGE have seen rapid growth while others like ACT and PNUT gain popularity thanks to Elon Musk influence and Binance listings. As AI related projects grow investors must balance potential gains with risks. But we must have plan which we should apply when it is needed
The continued uptrend has led asset managers like Bernstein to urge investors to consider adding Bitcoin exposure to their portfolios. Meanwhile, prediction market participants speculate that Bitcoin could reach $100K by the end of 2024, to me which is possible , looking at the range when BTC was 65k-90k
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BTC Surge: Bitcoin is approaching $90,000, fueled by frenzied market sentiment. MicroStrategy’s $2 billion BTC purchase has intensified the momentum, pushing BTC funding rates into a high-risk range of 0.05-0.1%. U.S. stocks also hit new highs, with notable gains in Tesla.
$2 billion buying of MS is really bullish news and it must have pumped the price but them buying these BTC by taking loan by pledging their BTC as collateral is not a good thing. But still market pumped and they made more profit and can cover some of the loan money they borrowed. This buying can be considered as planned one.
New Binance Listings: ACT and PNUT:
ACT: An AI meme token and the first major listing in the AI meme category, ACT is positioned as a highly speculative asset with potential valuation exceeding $2 billion, comparable to Neiro. Its unique listing approach shows Binance’s favor towards high-risk, low-market-cap tokens.
I come to hear about this token from my newbie cousin and he is been doing future trading in it and now he is making big loss he just shared that with me few hours ago. He wants to add more liquidity to save his trade but BTC being going up this ACT token is also going up and I beleibe like him many of the newbies who made money with the flow of BTC are now investing in other tokens and some of them must have no knowledge as well and they must be trading in other top pump coins on Binance and the funny thing is he talked about the same two tokens PNUT and ACT but he liked ACT more don't know why. The adoption of these two token must have been done by newbies mostly.
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The perfect storm has come massively for Bitcoin at this time of the year as pushed by the incoming Trump administration, more positive ETF inflows and of course some famous investors like MicroStrategy adding more Bitcoin to their holdings. I am not sure how this "magical formula" can last but I am hoping that this can carry Bitcoin towards the first quarter of the year when I am expecting a bigger bull run can happen...the bull run of all bull runs, hopefully, with alts coming also in the windfall that can send all crypto believers smiling. This is the time to get really excited of the things happening and of what can be...as we are all unburdened by the past (taken from Harris).
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Bitcoin is very close to $100K, we are very few steps away from achieving the long-awaited goal and it is clear that Bitcoin will not be satisfied and I expect that it will continue its path towards $120-150K.
The altcoin season has not started yet although some altcoins are growing well, now Bitcoin dominates the market by more than 62% so altcoins need Bitcoin dominance to decrease a little to get some liquidity to start its explosion.
In general, the market is booming and living its golden days and we are waiting for more with Trump officially taking office.
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The altcoin season has not started yet although some altcoins are growing well, now Bitcoin dominates the market by more than 62% so altcoins need Bitcoin dominance to decrease a little to get some liquidity to start its explosion.
I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
As for Bitcoin's price, the current SEC's Chair, Gary Gensler, will be stepping down in Jan, and if Trump appoints someone who is considered more crypto-friendly, that could be met with a lot of market enthusiasm.
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The altcoin season has not started yet although some altcoins are growing well, now Bitcoin dominates the market by more than 62% so altcoins need Bitcoin dominance to decrease a little to get some liquidity to start its explosion.
I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
No my friend, maybe you are the one who understands it the opposite way I think. :)
Bitcoin dominance does not decrease due to the rise of Altcoin, quite the opposite, Bitcoin dominance decreases when Bitcoin reaches the peak and Bitcoin holders or some of them start selling Bitcoin and then the liquidity moves to Altcoin and this liquidity that moved from Bitcoin is what causes the Altcoin season.
That's how I understand it, maybe we need another member to judge between us who is right.
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I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
The initial symptoms will form a new market trend so that the price of Altcoin slowly begins to recover and rises to reach a new ATH.
Only altcoins that have good potential and development can rise high enough.
When Bitcoin's dominance drops and Bitcoin's price tends to be sideways, then it will be a great opportunity for Alt season and the most eagerly awaited.
But now it is still not achieved because Bitcoin Dominance is still quite strong and also the price of Bitcoin is down and cannot break the price of $100k.
But this time it is the correction that Bitcoin really needs to start reaching the highest price again.
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The altcoin season has not started yet although some altcoins are growing well, now Bitcoin dominates the market by more than 62% so altcoins need Bitcoin dominance to decrease a little to get some liquidity to start its explosion.
I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
No my friend, maybe you are the one who understands it the opposite way I think. :)
Bitcoin dominance does not decrease due to the rise of Altcoin, quite the opposite, Bitcoin dominance decreases when Bitcoin reaches the peak and Bitcoin holders or some of them start selling Bitcoin and then the liquidity moves to Altcoin and this liquidity that moved from Bitcoin is what causes the Altcoin season.
That's how I understand it, maybe we need another member to judge between us who is right.
I guess dominance of BTC would decrease in correspondence with much sell off from investors as a result of BTC reaching a particular price (A new ATH likely 100k -110k presently).
The result of BTC dominance to my little knowledge is caused by much investors putting money in purchasing this asset thereby raising it's price even without a positive effect on the ALTS.
And after sell off they'll likely use their funds to purchase altcoins thereby raising it's price too...
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The altcoin season has not started yet although some altcoins are growing well, now Bitcoin dominates the market by more than 62% so altcoins need Bitcoin dominance to decrease a little to get some liquidity to start its explosion.
I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
No my friend, maybe you are the one who understands it the opposite way I think. :)
Bitcoin dominance does not decrease due to the rise of Altcoin, quite the opposite, Bitcoin dominance decreases when Bitcoin reaches the peak and Bitcoin holders or some of them start selling Bitcoin and then the liquidity moves to Altcoin and this liquidity that moved from Bitcoin is what causes the Altcoin season.
That's how I understand it, maybe we need another member to judge between us who is right.
I guess dominance of BTC would decrease in correspondence with much sell off from investors as a result of BTC reaching a particular price (A new ATH likely 100k -110k presently).
The result of BTC dominance to my little knowledge is caused by much investors putting money in purchasing this asset thereby raising it's price even without a positive effect on the ALTS.
And after sell off they'll likely use their funds to purchase altcoins thereby raising it's price too...
This article explains why Bitcoin Dominance is important and how it affects the altcoin market, exactly as I explained above:
Why Bitcoin Dominance Is Important
Generally, the total cryptocurrency market cap trend follows that of bitcoin. This is mainly because Bitcoin influences the whole crypto space as it's the first, biggest, and most popular digital asset. As a trader, you can spot a potential altcoin season when bitcoin dominance falls, as investors are moving their investments to altcoins. You could also identify an impending bitcoin bull run when Bitcoin dominance and price are on an upward trend.
https://www.coingecko.com/learn/what-is-btc-dominance
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I think you might have got this one backward, altcoins will not shoot up because of a drop in the BTC dominance, but it's the BTC dominance that would drop as a result of altcoins shooting up. Dominance is not the cause but a symptom.
let’s break this down because the market is very complex and undergoes cycles
if or when bitcoin is strong aka it is rallying upward, altcoins do tend to perform well as it goes under the speculative curve this is the result of investors looking for the next bitcoin since they weren’t able to buy bitcoin at a cheap price they’re hoping they could do it with an altcoin
now if bitcoin starts to correct itself investors will want to put their money somewhere it can earn which is why they look for it in altcoins the liquidity shifts now
it’s honestly so complicated because you will hear people say that bitcoin is the one that sets the tone for the rest of the crypto industry but we also need to consider that both altcoins and bitcoin can’t be dominant the focus will always lean more towards one or the other
rather than causality there’s just correlation between bitcoin dominance and altcoin dropping / bitcoin dropping altcoins surging
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now if bitcoin starts to correct itself investors will want to put their money somewhere it can earn which is why they look for it in altcoins the liquidity shifts now
Personally, I think that the Bitcoin dominance index is more related to Bitcoin than altcoins, as despite the rise in altcoins dominance, it does not indicate an increase in a particular currency, but rather many altcoins may decline with the rise in the altcoins dominance index. In short, it is a measure of Bitcoin and a reflection of the price.
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now if bitcoin starts to correct itself investors will want to put their money somewhere it can earn which is why they look for it in altcoins the liquidity shifts now
Yes, this is what it means in other words "Bitcoin dominance decline", when Bitcoin reaches its peak, investors start selling Bitcoin and buying Altcoin, this means that liquidity shifts from Bitcoin to Altcoin.
This liquidity that moved from Bitcoin to Altcoin is what causes Altcoin season, if this liquidity is pumped into any coin or several coins, it will lead to its explosion.
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now if bitcoin starts to correct itself investors will want to put their money somewhere it can earn which is why they look for it in altcoins the liquidity shifts now
Yes, this is what it means in other words "Bitcoin dominance decline", when Bitcoin reaches its peak, investors start selling Bitcoin and buying Altcoin, this means that liquidity shifts from Bitcoin to Altcoin.
This liquidity that moved from Bitcoin to Altcoin is what causes Altcoin season, if this liquidity is pumped into any coin or several coins, it will lead to its explosion.
Correct, right now Bitcoin had a major correction, we are now at $94k and it seems that the market has shift to altcoins already.
Although it could have been that the whole market is in red. I haven't heard or seen news that could trigger this huge retracement. Nevertheless, maybe there are news that put the market into decline.
Or some entities selling that caught the attention of some investors and they panic and push the sell button.
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Correct, right now Bitcoin had a major correction, we are now at $94k and it seems that the market has shift to altcoins already.
Although it could have been that the whole market is in red. I haven't heard or seen news that could trigger this huge retracement. Nevertheless, maybe there are news that put the market into decline.
Or some entities selling that caught the attention of some investors and they panic and push the sell button.
There is no negative news that led to this decline in the market, but the nature of the market, since Bitcoin has reached close to 100K and most investors have placed the sale at this target, this will naturally lead to a decline in the market due to the large amount of selling of Bitcoin.
This is a natural correction and the 100K area is a very strong resistance area that may need several corrections before Bitcoin can break through it.
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There is no negative news that led to this decline in the market, but the nature of the market, since Bitcoin has reached close to 100K and most investors have placed the sale at this target, this will naturally lead to a decline in the market due to the large amount of selling of Bitcoin.
This is a natural correction and the 100K area is a very strong resistance area that may need several corrections before Bitcoin can break through it.
Everyone initially expected $100k as a baseline, but when that price was not reached, whales made a sale to influence retail traders to sell their bitcoin holdings before $100k was reached.
And look at the market in the last few days, it has corrected to touch the price of $91K++, but it is still strong enough to hold on and return to the current upside.
This has been set up for whales so that they can get even cheaper prices before the actual bull occurs when the price exceeds $100k.
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The continued uptrend has led asset managers like Bernstein to urge investors to consider adding Bitcoin exposure to their portfolios. Meanwhile, prediction market participants speculate that Bitcoin could reach $100K by the end of 2024, to me which is possible , looking at the range when BTC was 65k-90k
Not only that but we might expect more and more big players investing in Bitcoin as soon as Trump administration will officially took office. Trust build up is inevitable here because they are all pro-cryptocurrency and we do expect something is good coming for crypto in the coming months and years.
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Correct, right now Bitcoin had a major correction, we are now at $94k and it seems that the market has shift to altcoins already.
Although it could have been that the whole market is in red. I haven't heard or seen news that could trigger this huge retracement. Nevertheless, maybe there are news that put the market into decline.
Or some entities selling that caught the attention of some investors and they panic and push the sell button.
And the correction is also not a prolonged correction, because in the end, ending November, the price of BTC returned to the range of $ 96k- $ 97k, yes, the point is still very reasonable in that range. And even until now, the ups and downs are not too drastic for Bitcoin, it is only in the range of $ 96k- $ 97k, so, it is still quite reasonable for the development of Bitcoin prices ahead of the next bullrun that we really hope for next year,
Especially if you see how the market is preparing for the inauguration of the US president, wow, this might be much more crowded and go up even faster. but of course, again this is just a prediction and we don't have to get carried away by excessive FOMO, still DYOR
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Correct, right now Bitcoin had a major correction, we are now at $94k and it seems that the market has shift to altcoins already.
Although it could have been that the whole market is in red. I haven't heard or seen news that could trigger this huge retracement. Nevertheless, maybe there are news that put the market into decline.
Or some entities selling that caught the attention of some investors and they panic and push the sell button.
And the correction is also not a prolonged correction, because in the end, ending November, the price of BTC returned to the range of $ 96k- $ 97k, yes, the point is still very reasonable in that range. And even until now, the ups and downs are not too drastic for Bitcoin, it is only in the range of $ 96k- $ 97k, so, it is still quite reasonable for the development of Bitcoin prices ahead of the next bullrun that we really hope for next year,
Especially if you see how the market is preparing for the inauguration of the US president, wow, this might be much more crowded and go up even faster. but of course, again this is just a prediction and we don't have to get carried away by excessive FOMO, still DYOR
Although the Inauguration of Trump is political, it could also turn into a crypto market highlight if this event going to cause the spike of BTC price.
The populist Trump been a BTC supporter since the time of his campaign and partners with few other crypto supporters like Musk and Ramaswammy. And because by Jan2025 Trump will be planning the BTC reserve funds, prices are highly likely going to push up.
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Especially if you see how the market is preparing for the inauguration of the US president, wow, this might be much more crowded and go up even faster. but of course, again this is just a prediction and we don't have to get carried away by excessive FOMO, still DYOR
Although the Inauguration of Trump is political, it could also turn into a crypto market highlight if this event going to cause the spike of BTC price.
The populist Trump been a BTC supporter since the time of his campaign and partners with few other crypto supporters like Musk and Ramaswammy. And because by Jan2025 Trump will be planning the BTC reserve funds, prices are highly likely going to push up.
Yes, I am quite grateful that Trump was elected, even though I am not a US citizen but I have had quite an impact on the cryptocurrency sector. Although with other policies, there will definitely be pros and cons. However, in the cryptocurrency sector, his influence is very large and the crypto market boost is experiencing a faster bullish. and we are really waiting for what will happen approaching and after the inauguration of the president.
Honestly, if you look at the market now, you really want to take profits, but you have to be more patient, seeing that the altcoin season has started but will continue until at least Q1, you have to be wiser and not panic every time there is an increase. keep adjusting to the target you want to achieve, in several stages so as not to be too greedy.