Category: Cryptocurrency News

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin’s price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

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Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

I am writing my master dissertation for the University degree Master of Science in Business Engineering: Finance. The topic of my master dissertation is Ethereum. I want to do a post-merge analysis of the returns of Ethereum. I just finished my complete literature review and explanation of Ethereum in about 25 pages. I am looking…
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