Bitcoin could still drop by 20% 📉
Bitcoin could still drop by 20% 📉
Welcome to the Daily Tribune Thursday, April 18, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, April 18, 2024, and like every day from Tuesday to Saturday, we summarize the news from the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Sunny ☀️
24-hour crypto summary ! ⏱️
📉 Bitcoin in turbulence zone!
A renowned analyst has issued a warning about a possible 20% drop in Bitcoin due to an alarming MVRV ratio, currently standing at 2.23, surpassing the historical average. This situation could potentially cause the price of Bitcoin to drop to around $50,000. This prediction is based on in-depth technical analysis, including macroeconomic and geopolitical factors such as ETF capital outflows, interest rate fluctuations, and international tensions.
To understand all the factors and the full analysis predicting this possible drop, dive into the full article.
🌪️ Turmoil on BNB Chain: An unexpected drop?
BNB Chain, known for its strong performance, is facing a significant drop in revenue, reaching some of the lowest levels since February. This is mainly due to a slowdown in transactions on its decentralized platforms, with trading volume not exceeding $1.5 billion in April, compared to over $2 billion the previous month. In addition, the price of the BNB token has dropped by 6.72% in 24 hours, exacerbating the reduction in revenue from transaction fees.
To explore the details of the causes of this situation and the outlook for BNB Chain, discover the full article here.
💰 Crypto ETFs in Hong Kong: $25 billion at stake!
The upcoming Bitcoin and Ethereum ETFs in Hong Kong could attract up to $25 billion, but it all depends on the access of Chinese investors to these products. The ETFs, which are expected to launch on April 30, have received conditional approval from the Hong Kong Securities and Futures Commission. The success of these ETFs will depend on the ability of Chinese investors to access them through the Southbound Stock Connect program. However, regulatory hurdles and current restrictions on cryptos in China could potentially delay this opening.
To understand how these ETFs could transform the financial landscape of Hong Kong and their potential impact on the global market, read the full article.
🎓 Binance and universities: The future of Web3 education!
Binance is collaborating with prestigious European universities to offer accredited training on blockchain and Web3. These partnerships, including institutions such as the University of Economics and Business in Prague, the European Institute of Business in Luxembourg, and ESCP Business School, aim to democratize access to crypto education and prepare students for the jobs of tomorrow. The programs, developed by crypto experts, will cover topics ranging from the fundamentals of Bitcoin to DeFi applications, with affordable enrollment fees and recognized certificates awarded upon completion.
To learn more about these educational initiatives and their potential impact on preparing future generations for blockchain technologies, click here.
Coin of the day: GT Protocol (GTAI)
GT Protocol stands out for its innovative approach by integrating blockchain technologies with decentralized trading and fund management services. The platform aims to reduce barriers to entry for cryptocurrency investments and digital assets, offering a transparent and secure solution for users. The added value lies in its smart contract system that automates processes, thereby reducing costs and increasing efficiency for participants.
The native cryptocurrency, GTAI, plays a central role in the operation of the GT Protocol ecosystem, facilitating transactions, rewards, and governance decisions within the platform. It has been primarily distributed through public offerings and staking rewards, with special attention to creating a sustainable network. GTAI holders benefit from transaction fee discounts, voting rights in platform governance, and the potential for appreciation as platform usage grows.
Recent GTAI performance
Current price: €1.98
Percentage increase/decrease: -2.52% (decrease in 1 day)
Market capitalization: €15,347,346
Rank on CoinMarketCap: #936
Technical analysis of the day: Solana (SOL)
Today, we analyze Solana's recent setback, which, after a remarkable performance, has experienced a severe correction, losing over 40% of its value. After stabilizing its price at $170, Solana couldn't resist market pressure, falling to as low as $120. Technical indicators, including moving averages and oscillators, suggest a continuation of the bearish trend.
Curious to know what the future might hold for Solana? Read the full analysis here.
