simin chen

Not big enough to be great so call me big with a small b! |

[simin chen @simincc]

Bitcoin has been consolidating around the $42,000 mark, with analysts looking towards $43,000 as an important level for a potential surge above $50,000. Founder of 10x Research, Markus Thielen, suggests that traders should consider long positions once bitcoin breaks above $43,000, as the cryptocurrency has been following a bullish pattern since early 2023. The recent pullback constitutes wave 4, while wave 5 is now in progress and could propel prices to $50,000. The decline in selling pressure from investors taking profits from the Grayscale Bitcoin Trust GGBTC crypto investment vehicle supports this bullish outlook. In other news, Hong Kong's Securities and Futures Commission has received its first bitcoin ETF application from Harvest Global Investments. Hong Kong regulators had expressed readiness to consider spot crypto ETF applications in December, shortly before the SEC's approval of bitcoin ETFs in the US. Jupiter, a Solana-based trading aggregator, has settled over $500 million in trades in the past 24 hours and has become the largest trading platform by that metric, surpassing Uniswap v3. Jupiter has a wide range of tokens and trading pairs listed, with the USDC/SOL pair being the most active. Additionally, Jupiter developers issued the wen (WEN) meme coin, which generated approximately $150 million in trading volumes. The issuance of Jupiter's JUP tokens is scheduled for Wednesday, with nearly 1 million Solana wallets qualifying for a 40% airdrop of JUP's total supply. This highlights the platform's popularity among traders.

[simin chen @simincc]

The SUI cryptocurrency has shown solid bullish momentum, with a recent price correction finding strong support at $1.31. The rounding bottom pattern in the SUI/USD pair indicates the potential for a breakout towards $2.00. Strong indicators such as RSI, MACD, and CMF further support the bullish outlook for the SUI market. Investors may view the recent correction as a buying opportunity, and a breach above the $1.50 threshold could propel SUI towards $2.00, with a target of $2.50. The RSI, MACD, and CMF indicators all point towards continued upward movement, reinforcing the likelihood of a bull rally.

[simin chen @simincc]

The future trend of Solana's SOLUSD price is dependent on the price movement this week. The technical analysis shows that SOL has fallen since reaching its high of $126 in December 2023, and is currently trading within a descending parallel channel. SOL recently broke out from this channel but has not seen significant price increase. The daily RSI indicates that bulls still have an advantage, but it has not confirmed the increase yet. Analysts are bullish on the future trend, predicting a move towards $150. However, the wave count and price action do not confirm the trend's direction. If SOL breaks through the $100 resistance area, it could trigger a 60% price increase to $155. On the other hand, a rejection could lead to a 25% drop to $72. The reaction to the $100 area will be decisive in determining the future trend.

[simin chen @simincc]

Kaspersky, a Russian cybersecurity firm, has issued a public warning about a new malware strain that specifically targets cryptocurrency wallets on Mac computers. This malware infiltrates systems through counterfeit applications and establishes a backdoor to bitcoin wallets, including Exodus. It then replaces these wallets with fraudulent versions to extract critical information and drain the stored crypto assets. Kaspersky emphasizes the uniqueness of this malware, using DNS records for delivery and replacing wallet applications with infected versions. Users are advised to exercise caution, avoid downloading from unofficial sites, and use security software for enhanced protection.

[simin chen @simincc]

Investors are closely monitoring the shifts in narrative surrounding Cronos (CRO) and AAVE, while Algotech (ALGT) presents an enticing opportunity with its successful presale and potential for high ROI. Cronos (CRO) has experienced a significant decline of 18.95%, signaling a downward trajectory, but it still remains a potential long-term investment. AAVE, on the other hand, has proposed the integration of GHO stablecoin, yet its value has shown negative results in recent trading days. Meanwhile, investors are contemplating investing in Algotech (ALGT) due to its impressive $1.1 million raised during the presale and its promising decentralized cryptocurrency platform that supports cutting-edge approaches.

[simin chen @simincc]

The Financial Stability Oversight Council (FSOC) in the U.S. has regained its power to label companies as threats and subject them to new restrictions. While there are no signs yet of the council targeting the crypto sector, it has been warning about the potential risks of stablecoins. Lawmakers have voiced concerns about the council overstepping its authority, as they believe it should support their efforts in creating a regulatory framework for digital assets. The FSOC's recent annual report highlighted stablecoins as a potential hazard to the U.S. financial system. However, it is unlikely that the council will designate a crypto firm as a systemic risk, according to a representative from the Crypto Council for Innovation. Critics suggest that the FSOC may be using the threat of risk designations to influence the writing of crypto-related bills. Nevertheless, some argue that the failures in the crypto sector in 2022 did not have a significant impact on the traditional financial system. The FSOC's track record has been inconsistent, and it has faced criticism for its slow response and lack of action. Bringing a crypto firm under the supervision of the Federal Reserve through the FSOC would require a complex process that has only been used during the 2008 financial crisis. Republican lawmakers have warned against the council's overreach and will likely oppose its actions if it targets the crypto sector.

[simin chen @simincc]

Max Keiser, a vocal Bitcoin supporter, recently criticized several top altcoins including XRP and ADA, as well as non-fungible tokens and Bitcoin ordinals. Keiser believes that Bitcoin is the only cryptocurrency that deserves to exist and considers altcoins to be unregistered securities. He also mentioned that $50,000 is the new immediate target for Bitcoin, mentioning the recent sell-off after the spot-based Bitcoin ETF approval and the subsequent price decline. However, Keiser expects BTC to reach $50,000 soon, given the growing interest from investors as indicated by the increase in newly created Bitcoin wallets.

[simin chen @simincc]

Manta Pacific has recently become the third-largest Layer 2 network, surpassing Coinbase's Base network, just months after its launch. Co-founder Kenny Li attributes this achievement to the project's New Paradigm campaign, which introduced yield-bearing assets into the Layer 2 network. This innovative feature, along with the platform's collaboration with Mountain Protocol to enable yield from U.S. Treasuries, has generated significant interest and propelled Manta Pacific to the top four. Additionally, the network's compatibility with EVM and its use of Celestia for data availability have contributed to its success. Despite facing challenges such as a DDoS attack during the token launch, Manta Pacific has persevered and prioritized the growth of its ecosystem and support for existing projects. Going forward, the network aims to convert to zkEVM, combining zero-knowledge proof technology with Ethereum compatibility.

[simin chen @simincc]

According to a crypto analyst, there is a historical pattern that suggests February could be a bullish month for Bitcoin. If the pattern repeats, Bitcoin could see significant gains this month, much like it did in 2016 and 2017. The analyst also predicts that Bitcoin could rise to as high as $53,000 in the near future. Regardless of what happens in February, Bitcoin investors can take comfort in the fact that the overall bullish momentum is expected to continue for over 500 days. Despite recent price declines, Bitcoin whales, or large holders, have remained steadfast in their positions.

[simin chen @simincc]

The surge in new Bitcoin addresses indicates a growing wave of investor interest and a substantial accumulation trend. With a 48% surge in new addresses, many investors are capitalizing on the recent Bitcoin price dip, reflecting renewed confidence in the overall market. Despite fluctuations in value, Bitcoin has demonstrated resilience, boasting a 4.19% increase in the past week. The rise in interest and engagement are positive signs for the overall health of the coin, and investors will closely monitor these developments to gauge its potential impact on Bitcoin's price in the coming weeks.

[simin chen @simincc]

US Senator Saddam Azlan Salim has been a vocal advocate for regulations that support cryptocurrency mining, specifically Bitcoin mining. He believes that laws should not be imposed against the mining of digital assets, unless they also apply to other manufacturing companies. In his proposed regulations, Salim emphasizes that crypto mining should not be penalized solely based on the nature of the business. As long as mining activities comply with local noise ordinances and general industrial noise ordinances, they should be allowed in industrial zones. Salim's position aligns with the recent surge in the cryptocurrency mining industry, with companies like Marathon Digital mining record numbers of Bitcoins. However, there is controversy surrounding Bitcoin mining within the US government, particularly regarding its environmental impact. Despite this, Senator Salim argues that environmental arguments should not be used to curtail financial freedom. Overall, the debate surrounding Bitcoin mining and its regulation continues, with the upcoming halving adding further speculation on its impact.

[simin chen @simincc]

@YemiBjk Bitcoin traders, rejoice! Band Protocol has launched a new binary options dapp. 1

[simin chen @simincc]

@Mands0415 With its user-friendly interface and extensive network of ATMs, Athena Bitcoin is making it easier than ever to buy and sell cryptocurrencies in Argentina.

[simin chen @simincc]

@Rapettah12 CFTC Chairman Heath Tarbert has confirmed that ethereum futures contracts are expected to be launched in 2020. #CFTC #ethereum #cryptocurrency

[simin chen @simincc]

@Rapettah12 Despite the SEC’s injunction against Telegram’s token offering, investors in the firm’s gram token have agreed to accept an extended issuance date in the hope of making a profit. #SEC #Telegram #cryptocurrency

[simin chen @simincc]

@Rapettah12 Bitcoin’s “death cross” has made a comeback after 18 months, following a 47% slide from its 2019 high of $13,800. #Bitcoin #deathcross #cryptocurrency #investing

[simin chen @simincc]

@Rapettah12 Binance is making waves in the blockchain world with its latest announcement: joining the governance council of Kakao’s Klaytn blockchain network. #Binance #Kakao #Klaytn #blockchain #partnerships

[simin chen @simincc]

@YemiBjk SoftBank and IBM are collaborating to develop cross-carrier blockchain payments technology, which will empower smartphone users to make local payments when traveling overseas. #SoftBank #IBM #blockchain #payments #technology

[simin chen @simincc]

@YemiBjk 💰 Banking on Blockchain: Coinplug’s jackpot – a fusion of finance and crypto. Major players place their bets. 🎲💡

[simin chen @simincc]

@YemiBjk 🚀 Waiting for Liftoff: BTC’s calm façade conceals a rocket engine. Buckle up, fellow hodlers! Destination: unknown. 🌌