JinkGames (2025)

09/09/2024

Gold Futures Climb as Upward Momentum Gains Strength, ING Reports — Market Update 💯

futures have risen 0.1% to $2,526.40 per troy ounce, marking a notable increase both weekly and annually. According to ING analysts, the rally is just beginning, driven by expectations of a significant U.S. interest rate cut in September. The precious metal has been supported by Federal Reserve rate cut projections, robust bank and Asian demand, and heightened safe haven buying amid geopolitical risks and uncertainties leading up to the U.S. election.

Additionally, demand for gold-backed ETFs has seen renewed strength with global inflows for four consecutive months. ING predicts gold will average $2,580 per ounce in the fourth quarter, with prices continuing to climb in 2025, averaging $2,700 per ounce.

Source: Dew Jones Newswire 🎯

09/09/2024

XRP, ADA, SOL Price Predictions for the Week 🔥

XRP, ADA, and SOL show signs of recovery, but the coming days will reveal whether they can sustain it.

XRP Price Prediction

lost its critical support at $0.54. If buyers don’t reclaim this level soon, sellers will likely dominate. The next key support is at $0.50, with bears targeting this level. XRP is currently priced at $0.53.

ADA Price Prediction

ADA found support at $0.31 and is aiming for $0.37, a key resistance level. A possible double bottom pattern and last week's higher low suggest the downtrend may be ending. ADA is priced at $0.34.

Price Prediction

is battling to regain its $134 support. A failure to reclaim this could lead to sellers targeting $104. SOL is priced at $129.

Source: Crypto Potato 🎯 CryptoPotato

09/09/2024

Bitcoin Could Hit $90K by Year-End if Trump Wins Presidency: Bernstein 🚀

(BTC) may reach $90,000 by the fourth quarter if Donald Trump wins the U.S. presidential election in November, according to a Bernstein report released Monday.

If Kamala Harris wins, Bitcoin is projected to drop below its current floor of $50,000 and could test the $30,000-$40,000 range.

The report highlights Trump's pro-crypto stance, as he has called for the U.S. to become the "bitcoin and capital of the world." His July speech at the Bitcoin Nashville conference advocated for U.S. bitcoin mining leadership, appointing a crypto-friendly SEC chairman, creating a national bitcoin reserve, and establishing a presidential crypto advisory council.

In contrast, Harris has not addressed crypto in her campaign speeches, according to the report.

Bernstein analysts, led by Gautam Chhugani, noted that the crypto market has faced macroeconomic and regulatory challenges for the past three years. However, a favourable crypto regulatory environment could reignite innovation and attract users back to blockchain-based financial products.

The report concluded, "Elections are unpredictable, but a long crypto position here likely bets on a Trump victory."

Source: CoinDesk 🎯 CoinDesk

26/08/2024

Crypto Analyst Warns: It May Be Your Last Opportunity to Buy Bitcoin 💯

Many cryptocurrency traders are trying to time the market to find the perfect moment to buy . Crypto analysts have employed a range of indicators to determine the optimal buying opportunity, and this effort continues even after Bitcoin reached a new all-time high earlier this year. Notably, analyst R.N. Elliot has recently emphasized that now might be the best time to invest in Bitcoin.

Time to Buy Bitcoin

According to Elliot's analysis, Bitcoin has formed a "Double Zigzag" pattern, characterized by two similar zigzag formations. The first pattern concluded when Bitcoin reached its all-time high above $73,000. The analyst suggests that the second pattern might unfold similarly, having already begun following Bitcoin's decline from $70,000 to below $50,000. If this analysis is accurate, Bitcoin could be poised for a recovery.

A potential recovery might push Bitcoin's price above $74,000, setting a new all-time high. This surge could also spark a broader market rally, potentially leading to a bull run for altcoins.

Using the Elliot Wave to Predict Market Movements

Elliot's analysis leverages the Elliot Wave theory to predict optimal buying periods for Bitcoin. This method identifies wave patterns to anticipate price movements, suggesting phases of bullish and bearish momentum. According to Elliot, Bitcoin is currently in the third wave of this pattern, which could consist of five sub-waves.

As the wave progresses, Elliot anticipates an "Expanding Diagonal" pattern, often seen in volatile markets, to emerge. He believes this will lead to an increase in Bitcoin's price. The analyst has set price targets of $84,331.6 for a shorter wave and $106,219.6 for a longer wave. Achieving either target would mark a new peak for Bitcoin.

Article originally published on NewsBTC 🎯 Newsbtc - Today's Bitcoin News

26/08/2024

Solana (SOL) Could Trigger a New Rally Above $162 💯

has recently surged above the $150 and $155 resistance levels, showing signs of a potential rally if it clears the $162 mark.

Currently trading above $155 and its 100-hour simple moving average, has established a bullish trend line with support around $158 on the hourly chart (source: Kraken). The pair might see further gains if it surpasses the $162 resistance level.

Solana Strengthens Above $155

After stabilizing above $150, Solana gained momentum to break through the $155 resistance and even surpassed $160, outperforming both Ethereum and Bitcoin. The price peaked at $162 but is now consolidating gains, experiencing a minor correction below $160 and testing the 23.6% Fib retracement level from its $138 low to the $162 high.

SOL remains robust above $150 and its 100-hour simple moving average, with a crucial bullish trend line offering support near $158.

On the upside, resistance is expected around $162, with the next significant hurdle near $165. A decisive move above these levels could pave the way for a continued rise, potentially targeting $178 and even $184.

Limited Downside for SOL?

If Solana fails to break above the $162 resistance, it may correct downward. Initial support could be found near $158, followed by a more substantial base at $155. Dropping below $155 could push the price toward $148, aligning with the 61.8% Fib retracement level. A close below $148 might lead to a decline toward $135 in the short term.

Technical Indicators

Hourly MACD: Gaining strength in the bullish zone.

Hourly RSI (Relative Strength Index): Positioned above 50.

Key Support Levels: $158 and $155.

Key Resistance Levels: $162 and $165.

Source: NewsBTC 🎯 Newsbtc - Today's Bitcoin News

12/08/2024

Why Is the Crypto Market Down Today? 😮

The total crypto market cap and Bitcoin (BTC) have taken a hit following a recent surge, with Bitcoin’s price dropping below $60,000. Akash Network experienced the sharpest decline among , falling 11% in the past day.

In the news:

Crypto.com joined Coinbase in criticizing the CFTC’s proposed rulemaking, calling it overreaching.
BlackRock’s spot ETF (ETHA) has attracted over $900 million in the last three weeks, nearing $1 billion in total inflows.

Market Correction

The total market cap is cooling after a recent surge, with $100 billion in outflows over three days, bringing it down to $2 trillion. This level is a key support that could prevent further declines, though reclaiming $2.11 trillion would be necessary for recovery.

Bitcoin’s Price

has dropped below the critical $60,000 support, currently trading at $58,300. Holding $58,200 as a support level is crucial to avoid a further fall to $54,500. A recovery to $60,000 is needed to continue its upward trend, with $70,000 still the target.

Akash Network

Akash Network’s price dropped 11%, but it remains in an uptrend. If it can flip $2.68 and $3.02 into support, further rallies are possible. However, failure to breach these levels may lead to consolidation and a loss of bullish momentum.

Source: Beincrypto 🎯 BeInCrypto

12/08/2024

ETH Burn Rate Hits Yearly Low on Network 🔥

Ethereum's burn rate has hit its lowest point this year, reflecting a significant drop-in network activity. Transaction base fees, which drive the burn rate, have recently dipped to just 1-2 gwei, marking a substantial decrease.

This reduction in gas fees has led to a corresponding drop in the amount of ETH burned. On Saturday, only 210 ETH was burned, the lowest daily figure this year, compared to the 5,000 ETH burned on August 5 when gas fees soared to around 100 gwei. As a result, the network's inflation has increased, with a net ETH emission of over 2,000 ETH on that day.

Gnosis founder Martin Köppelmann has proposed temporarily increasing the gas limit to counter this inflation. He suggested that a base fee of approximately 23.9 gwei is needed to offset staking rewards, hinting that boosting Layer 1 activity might be a solution despite the current low-fee environment.

The decline in gas fees is largely due to users migrating to Layer 2 scaling solutions and the adoption of blob transactions following the Dencun upgrade in March. These changes have lowered costs on Layer 2 networks, reducing the demand for Layer 1 transactions.

Currently, ETH is trading at $2,540, up nearly 10% year-to-date, with a market cap of $305 billion.

In related news, the New York Stock Exchange (NYSE) American has proposed a rule change to list options for three Ether ETFs managed by Grayscale and Bitwise. If approved, this would allow options trading on these ETFs, offering investors a cost-effective way to gain additional exposure to Ether.

Article information sourced from NewsBTC 🎯 Newsbtc - Today's Bitcoin News

09/08/2024

to all the amazing women in trading and crypto! 🌹

May your trades be sharp, your gains unstoppable, and your portfolios as powerful as you are! 🚀

Where would we be without you 👩

Love,
JinkGames 🎯

09/08/2024

Bitcoin Price Surges Above $62,000: Top 3 Reasons 💯

has experienced a major rally, recovering from a low of $49,000 on Monday to a high of $62,700 during today’s Asian trading session. This marks a 24% increase from Monday’s low, with a 7% rise in the last 24 hours. Here are the key drivers behind this surge:

1️⃣ Easing US Recession Concerns Boost Bitcoin

The recent Bitcoin rally is closely tied to macroeconomic factors. A rising unemployment rate in the U.S., now at 4.3%, initially sparked recession fears. However, a significant drop in jobless claims—down by 17,000 to 233,000—calmed the markets. Mohamed A. El-Erian, President of Queens College Cambridge, highlighted that the markets viewed this data as a relief, though he warned of the volatility in such data. Macro analyst Alex Krüger added that the market's previous panic was more about narrative and positioning than actual fundamentals.

2️⃣ Short Liquidations Propel BTC Higher

Bitcoin's volatility also triggered a wave of short liquidations. In the past 24 hours, 52,413 traders were liquidated, with total crypto liquidations reaching $222.02 million. Bitcoin alone saw over $90 million in short positions liquidated, making it one of the largest short-liquidation events in recent months. According to Julio Moreno, Head of Research at CryptoQuant, this surge was largely driven by shorts covering positions in the futures market.

3️⃣ MicroStrategy’s Buying Spree?

As Bitcoin’s price surged, there was noticeable demand from the spot market. Analyst Kiarash Hossainpour speculated that MicroStrategy, led by Michael Saylor, could be behind this late-night buying spree. Last week, the company announced plans to increase its Bitcoin holdings by $2 billion through a new equity offering, further fuelling speculation about their involvement.

At the time of writing, Bitcoin is trading at $61,186.

Credit: NewsBTC 🎯 Newsbtc - Today's Bitcoin News

08/08/2024

Dormant Bitcoin Wallet Awakens: $14 Million in Satoshi-Era BTC Moves 💸

A long-dormant wallet from the Satoshi era has suddenly moved $14 million worth of BTC, sparking interest and speculation in the crypto community. Mined in 2010, these 250 remained untouched until now, showcasing the immense value of early Bitcoin investments.

Back in 2010, Bitcoin mining was possible with regular CPUs. Over the years, the industry evolved rapidly, leading to the dominance of large-scale operations. The miner’s original reward, worth just $28,080 in 2013, is now valued at over $14 million, highlighting the incredible appreciation of Bitcoin.

This unexpected activity has fueled rumors, with some speculating about Satoshi Nakamoto’s involvement. However, it’s more likely an early miner rediscovered and moved their old stash. Similar moves have happened before, with early adopters reaping massive rewards.

These movements fit a broader trend of Bitcoin accumulation, with $22.8 billion worth of BTC recently shifted to "permanent holder addresses." This suggests growing confidence among investors, preparing for potential future price increases.

Currently trading at $57,308, Bitcoin is still recovering from last week’s sell-off. The reactivation of this wallet serves as a reminder of Bitcoin's volatility and potential for sudden market shifts, reigniting interest and speculation in the crypto world.

Source: NewsBTC 🎯 Newsbtc - Today's Bitcoin News

07/08/2024

Technical Analysis: Fragile Risk Sentiment 🔅

Fundamental Overview

Last Friday's weak US NFP report sparked risk-off flows, intensifying Monday as the Japanese Nikkei plunged 12%, leading to a global stock market selloff.

Markets anticipated a 136 bps rate cut by the Fed by year-end, with some expecting an emergency cut. While volatility eased and markets recouped Monday's losses, expectations remained high for a 50 bps cut by the Fed in September and a total of 103 bps by year-end.

The GBP rose against the USD on Friday due to aggressive Fed rate cut expectations but weakened on Monday as risk-off sentiment grew. Tuesday saw another selloff without a clear catalyst, highlighting the fragile sentiment and dominant flows impacting price action.

GBPUSD Daily Chart

On the daily chart, GBPUSD fell below the major trendline, extending its drop to the 1.2677 level as bearish momentum grew. The target for sellers is the swing low at 1.2615.

If the price reaches this level, buyers may step in with defined risk below it, aiming for a rally to new highs. Sellers, however, will look for a break lower to push towards the 1.25 handle.

GBPUSD 4-Hour Chart

The 4-hour chart shows a downward trendline dictating current bearish momentum. Sellers will likely use this trendline to position for further downside, while buyers will aim for a break above it to regain control and push for new highs.

GBPUSD 1-Hour Chart

The 1-hour chart indicates resistance around the 1.2720 level, with multiple rejections. Buyers need a break above this level to target a rally to the downward trendline, while sellers will lean on it to aim for a drop to the 1.2615 level. The red lines mark the average daily range for today.

Upcoming Catalysts

This week has minimal data releases. The key economic release is Thursday's US Jobless Claims figures. The market will also closely monitor Fed members' comments in light of recent market developments.

Credit: ForexLive 🎯 ForexLive

07/08/2024

Experts Weigh in on How Bank of Japan’s Dovish Stance Benefits Investors 💸

On August 7, Bank of Japan (BOJ) Deputy Governor Shinichi Uchida announced the continuation of low interest rates despite market turbulence, emphasizing the importance of maintaining monetary easing.

BOJ's Strategy Amid Economic Challenges

At the Financial and Economic Forum in Hakodate City, Uchida cited the dollar's depreciation and global stock declines, attributing these trends to fears of a US economic slowdown. Rising import prices due to the weak yen pose a risk to consumer prices.

Insights from Arthur Hayes

Arthur Hayes, co-founder of BitMEX, explained that Japan's low interest rates create a favorable environment for the "carry trade" strategy. This involves borrowing low-interest yen to invest in higher-yield assets in other currencies. If the yen depreciates, repaying the debt becomes cheaper, making the trade profitable. However, if the yen appreciates, the strategy can be costly.

Due to BOJ's ability to print yen, entities in Japan, collectively referred to as "Japan Inc.," do not need to hedge their borrowed yen.

Bitcoin as a High-Risk Investment Opportunity

Hayes argues that BOJ's policies create an attractive environment for high-risk assets like Bitcoin. The yen's steady depreciation makes Bitcoin appealing for investors seeking higher returns and wealth protection.

Japanese investment firm Metaplanet has been purchasing Bitcoin since April to mitigate risks associated with Japan's economic environment. Metaplanet plans to issue free stock acquisition rights to raise 10.08 billion JPY (about $70 million), with 8.5 billion JPY (approximately $58.76 million) allocated for Bitcoin purchases. Metaplanet currently holds 246 BTC, valued at around $13.98 million.

Source: Beincrypto 🎯 BeInCrypto

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