Trump predicts chaos, Bitcoin towards 50K 🚀
Welcome to the Daily Tribune on Wednesday, January 3, 2024 ☕️
Hello Cointribe! 🚀
Today is Wednesday, January 3, 2024, and like every day from Tuesday to Saturday, we summarize the news of the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Stormy ⛈️
24-hour crypto summary ! ⏱️
📉 Cramer against the tide: Contrarian pessimism
Jim Cramer, the iconic financial voice of CNBC, stands out once again with a bleak prediction for the future of cryptocurrencies in 2024, despite the current bullish trend in the market. Cramer, known for his often strong opinions, foresees a difficult year for the sector, a position that sharply contrasts with Bitcoin's recent performance, reaching $45,734, its highest value since April 2022.
Cramer's skepticism towards cryptocurrencies is not new, but it takes on a particular turn with the emergence of the "Inverse Cramer" phenomenon, where investors tend to bet against his predictions. This effect has even inspired the creation of the Inverse Cramer ETF, a fund that seeks to capitalize on market movements that go against Cramer's forecasts. Despite a 0.63% drop in this ETF compared to the rise of Bitcoin, the question remains: will the market continue to defy Cramer's predictions?
Cramer's prediction goes against current trends, but is based on real factors such as inflation, interest rates, and regulation.
🚨 Trump and the specter of a crash: Alarmist election strategy
As the 2024 US presidential elections approach, former president Donald Trump is making waves with a bold prediction: a historic stock market crash if his candidacy fails. In a message on Truth Social, he compares the potential collapse to the Black Thursday of 1929, suggesting that his reelection is the only barrier against such a catastrophe. This statement, though strategic, comes in a tense economic context marked by record inflation and fears of a recession, adding an element of uncertainty to the current financial environment.
However, the credibility of this prediction is debatable, leaning more towards political tactics than economic analysis. Markets, influenced by a multitude of factors, do not guarantee a collapse under a new president. Despite his legal troubles and an uncertain reelection, Trump is using this prediction as a tool to galvanize his supporters. It remains to be seen whether this alarmist strategy will pay off or backfire on him.
It is true that the stock market faces a number of risks, including inflation, interest rates, and the war in Ukraine. However, Trump's statements should be taken with caution as he has not provided solid foundations for his prediction.
🚀 Bitcoin on the horizon of $50,000: Matrixport's optimism
Matrixport, an influential investment company, projects an upward trajectory for Bitcoin, anticipating an imminent breakthrough of $50,000. This prediction is based on a series of technical factors and market signals, including price consolidation at the end of 2022 and the expected return of institutional investors. The potential approval of a Bitcoin Spot ETF in the United States is seen as a major catalyst, with 70% of bitcoins remaining unspent in the past twelve months, indicating a decreasing supply.
Matrixport doesn't stop there and envisions an even more ambitious target of $125,000 by the end of 2024, based on Bitcoin's historical performance during previous halvings. While the threshold of $50,000 seems within reach in the short term, this optimistic outlook fuels hopes of a new era of prosperity for Bitcoin. However, in the volatile world of cryptocurrencies, caution remains advised.
This prediction is based on technical analysis, which is a useful tool for predicting price movements but is not an exact science. If the prediction were to come true, it would be a sign of Bitcoin's strength and the recovery of the crypto market.
📈 Binance 2023: A year of growth and challenges
Binance, the global giant in cryptocurrency exchange, reveals an impressive 2023 record, demonstrating robust growth and an enhanced commitment to compliance and security. Despite a fluctuating market, Binance attracted 40 million new users, bringing the total to 170 million. The transformation of Binance Feed into Binance Square has also stimulated engagement, with a significant increase in the number of daily active users.
The year was also marked by a record investment of $213 million in compliance and security, evidence of Binance's commitment to providing a safe trading environment. The Secure Asset Fund for Users (SAFU) reached $1.2 billion, offering additional protection to users. Despite the departure of its iconic CEO, Changpeng Zhao, Binance continues to demonstrate resilience and adaptability, positioning itself as a key player in the future of crypto trading.
Binance's record result is proof of the continued growth of the crypto industry. Binance is the largest crypto exchange in the world, and its growth is fueled by the increasing popularity of cryptocurrencies among institutional and individual investors.
Crypto of the day: Kava (KAVA)
Kava is a decentralized finance (DeFi) platform launched in 2019, operating primarily in the Cosmos ecosystem. It stands out for its multi-chain approach, allowing users to lend, borrow, and earn with a variety of cryptocurrencies. Its innovative blockchain is based on the Tendermint consensus mechanism, offering speed and security. Kava positions itself as a comprehensive solution for DeFi operations, integrating features such as Kava Mint for stablecoin creation, Kava Lend for lending, and Kava Swap for token exchange.
The platform's native crypto, KAVA, serves several essential purposes. It is used for governance, allowing holders to vote on important proposals and system updates. KAVA is also staked to secure the network, and users can earn rewards through staking. The initial distribution was carried out through a series of public and private sales, as well as incentive programs for early adopters. KAVA token holders enjoy benefits such as participation in platform decisions, staking rewards, and the ability to borrow assets on the platform.
Recent Performance
Current Price: Approximately $0.96 USD
Percentage Increase/Decrease: 1.79% over the past 24 hours.
Market Capitalization: $1,036,173,009.69 USD, which is equivalent to approximately 961 million euros.
Rank on CoinMarketCap: Ranked 68th on CoinMarketCap.
Mastering Take Profit to Benefit from the Bull Run
In the dynamic and unpredictable world of cryptocurrencies, securing your gains can be as crucial as making profits. This is where the concept of "Take Profit" (TP) comes in, an essential trading technique for any investor looking to protect their profits against market volatility.
Take Profit is a conditional order, meaning it is not executed immediately but triggered when certain conditions are met. Specifically, it is activated when the price of a cryptocurrency reaches a predetermined level. At that moment, the position is automatically closed: coins are sold if you are in a long position (anticipating a price increase) or bought if you are in a short position (anticipating a price decrease). The goal is to close the position when the price is favorable, thus securing the profits made.
Let's take a concrete example: imagine you open a position of 1 Bitcoin at 10,000€. You simultaneously place a Take Profit at 10,500€. If the price of Bitcoin reaches this threshold, your position will automatically close, allowing you to realize a profit of 500€. This is a way to "take your profits" before the market changes direction and erases your gains.
Of course, there is always the possibility that the price continues to rise after your Take Profit is activated. This is the trader's dilemma: secure the gains now or risk losing potential profits in order to gain more. To determine the best threshold for your Take Profit, it is advisable to use Technical Analysis indicators, which can help you predict price movements and make informed decisions.
Take Profit is closely related to another conditional order, the Stop Loss, which aims to limit your losses if the market moves unfavorably. Combined, these two tools form an essential risk management strategy for any cryptocurrency trader.
In summary, Take Profit is a valuable tool in your trading arsenal. It helps you secure your profits and protect your capital against sudden market reversals. As always, a good understanding and judicious application of trading techniques are crucial for success in the complex universe of cryptocurrencies.