Из жизни альткоинов

Bitcoin continues to demonstrate resilience, holding above crucial demand levels after its recent decline from all-time highs. While the market grapples with negative sentiment and a wave of bearish predictions, BTC price action remains steady, offering hope to investors eyeing a potential recovery.

Adding weight to Bitcoin’s strength, CryptoQuant CEO recently shared compelling data that combines off-chain and on-chain metrics. The analysis reveals that the estimated capital stored on the Bitcoin network has surged to $1.03 trillion. This substantial increase underscores the narrative of BTC as a robust store of value, aligning with the thesis many analysts advocate for the leading cryptocurrency.

As macroeconomic uncertainty looms, Bitcoin’s ability to maintain its position above critical levels offers a sense of stability to a market otherwise marked by volatility. Investors and traders are closely monitoring whether this newfound support will translate into a rally or if broader market forces will weigh BTC down further. For now, the data suggests that BTC’s foundation remains strong, fueling continued confidence in its long-term potential as a digital store of value.

Capital Stored On The Bitcoin Network Grows

Bitcoin has had an incredible 2024, with its performance not just reflected in price appreciation but also in key metrics that indicate the network’s growing strength. As the year draws to a close, data suggests that Bitcoin’s role as a Store of Value (SoV) is more evident than ever.

CryptoQuant CEO Ki Young Ju recently shared valuable insights on X, revealing that by combining both off-chain and on-chain data, the estimated capital stored on the Bitcoin network has reached $1.03 trillion, an 85% increase from the previous year.

This growth supports the idea that BTC is increasingly seen as a long-term store of wealth, beyond mere speculation. Ju explains that this is not just about the market cap, which currently stands at $2 trillion. Adding $1 to BTC does not directly translate to a $1 increase in its market cap. Instead, we can estimate the capital inflow through a combination of off-chain and on-chain data.

First, off-chain exchange transactions are considered, where exchange reserves are multiplied by the volume-weighted average price (VWAP) to estimate capital entering the market via exchanges. Second, on-chain data, particularly OTC and exchange deposits/withdrawals, is used. Bitcoin’s execution and settlement occur simultaneously, and capital inflows can be tracked through the realized cap, which monitors the cost basis of BTC movements on the blockchain.

By combining these metrics, we arrive at the SoV Index, a tool that captures the true capital flowing into the Bitcoin network. This provides a clearer picture of BTC’s value and its growing status as a global store of value, with data backing up its fundamental strength heading into 2025.

BTC Ranging Between Crucial Levels

Bitcoin is currently trading at $93,600 after facing several days of selling pressure and fear in the market. The price reached a high of $99,880 last Thursday, but since then, it has dropped by more than 6%. This recent decline has raised concerns about Bitcoin’s immediate price action, but the key levels to watch are clear.

If BTC manages to break above the $100K mark and hold it as support, it would signal a bullish confirmation, potentially paving the way for a new price rally. This level is psychologically significant and would reinforce the uptrend if sustained.

On the other hand, if bulls lose the critical support range around $92K to $90K, the market could see a deeper correction. A move below this support would likely trigger further selling, potentially testing lower levels in the near future.

These levels will likely determine Bitcoin’s short-term direction. With the market still reacting to external factors, keeping an eye on these key zones will be essential for understanding where Bitcoin is headed next.

Featured image from Dall-E, chart from TradingView

The Dogecoin price has successfully completed its final retest of a crucial support level, signaling renewed potential for a significant rebound. According to crypto analyst Trader Tardigrade, Dogecoin could be headed to new all-time highs, as historical chart patterns suggest a parabolic surge might be on the horizon.

Dogecoin Price Concludes Final Support Retest 

In an X (formerly Twitter) post, Trader Tardigrade declared that Dogecoin had completed its final retest of the critical support level at $0.31. The analyst presented a chart predicting Dogecoin’s next major rally and price trajectory based on recurrent historical trends.

This chart, illustrating Dogecoin’s price action from 2014 to the present, highlights periods of consolidation, breakout, and parabolic growth. During previous market cycles, Dogecoin has exhibited similar price movements and market behavior. Each cycle is characterized by a prolonged period of sideways movement, followed by a breakout of key resistance and a final retest of this resistance as the new support.

In 2017, Dogecoin experienced its first final support retest around the $0.00095 mark before witnessing a significant rally, pushing its price to $0.02. A similar pattern also emerged in early 2021 during the previous bull run, where Dogecoin completed its final retest and surged to an all-time high above $0.7. 

Trader Tardigrade observed that Dogecoin is repeating this historical trend pattern again in its current cycle. The recent conclusion of its final support retest supports his prediction and potentially marks the beginning of its next potential parabolic rally. 

Based on the recurrent historical price action, the analyst predicts that Dogecoin could reach a new all-time high of $4.5. This massive surge would represent a staggering 1,306% increase from its current market price.  

Dogecoin To Breakout Of Symmetrical Triangle Pattern

In a more recent X post, Trader Tardigrade identified the appearance of a Symmetrical Triangle on the Dogecoin chart. The Dogecoin price is currently trading within this triangle, indicating that the meme coin could undergo a period of consolidation before a potential breakout. 

The analyst has disclosed that the Symmetrical Triangle acts as a “solid base” for Dogecoin, representing a key consolidation zone. The pink arrow in the charts suggests a bullish breakout to Dogecoin’s next price target. 

Trader Tardigrade has predicted that Dogecoin could break out of the upper trendline of the Symmetrical Triangle, potentially leading to its upward momentum. The analyst has marked the upper trendline at $0.32, coinciding with Dogecoin’s current market value. 

Over the past month, Dogecoin has crashed 25%, pushing its price from above $0.4 to $0.32. Despite waning market volatility, the popular meme coin has been in a prolonged downturn and consolidation phase. Nevertheless, Trader Tardigrade has forecasted that Dogecoin could rally to $0.355 once this projected Symmetrical Triangle breakout occurs. 

Considering the ongoing cycle is still in the bull phase, confidence in Ethereum about an impending significant rally to unprecedented levels has emerged within the community. ETH may have faced heightened volatility over the past few weeks, but crypto analysts contend that the altcoin’s next major upswing might be on the horizon.

A Historic Comeback Toward Present All-Time High Imminent

Titan of Crypto, a technical expert and trader, delved into Ethereum’s price performance in the ongoing cycle, suggesting a move to historical levels. In the analysis, Titan of Crypto claims ETH may be on the verge of reclaiming its current all-time high of $4,800.

The expert’s perspective is based on past trends, particularly the 2021 market cycle in which ETH achieved its present price peak. His prediction points to a similar trend when periods of consolidation preceded notable price spikes in 2021.

Growing negative sentiment about ETH’s price performance among investors is the major reason for Titan of Crypto’s bullish analysis. While many complain about ETH’s lackluster performance in the ongoing cycle, the analyst highlighted that the altcoin is ahead of the 2021 market cycle.

As of December 2020, the expert noted that Ethereum was still 90% below its previous all-time high. Meanwhile, the altcoin is just 44% below its current all-time high this month, implying a potentially improved bull cycle than the last one.

In the past cycle, ETH did not regain its peak until January 2021. Since this cycle is performing quite similarly to past scenarios, Titan of Crypto’s analysis suggests that the crypto asset might also revisit its all-time high soon, possibly in January 2025.

With increasing investor confidence, heightened adoption of decentralized applications, and consistent network upgrades, Ethereum could attract the necessary momentum to surge to a new peak. However, monitoring key resistance levels and general market conditions will be important to determine ETH’s next move in the upcoming weeks.

ETH’s Price Hints At Path To A $7,300 Milestone

Despite the current volatility in the market, ETH continues to display potential for a significant move toward uncharted territory. Recent price action shows that Ethereum has formed a crucial chart formation, sparking optimism among investors about an upward breakout.

According to market expert Crypto Patel, an Inverse Head and Shoulders pattern has emerged in the 5-day time frame. This key formation, which is frequently linked to remarkable price increases indicates that the altcoin is poised to rally as it eyes a breakout on the upside.

Should ETH break out from the bullish pattern, the expert is confident that the digital asset may rally to the $7,300 level. After that, Crypto Patel expects other altcoins to follow suit shortly, urging investors and traders to be patient.

Saturday, December 28, 2024 – Crypto All-Stars, the unified staking ecosystem for meme coins, has announced that its native token, $STARS, will soon be listed on its first centralized exchanges (CEXs).

Since its debut on decentralized exchanges (DEXs) on December 23, 2024, $STARS has generated 2x returns for presale investors despite initial profit-taking. The project has steadily gained traction, amassing 22,600 token holders and achieving a market capitalization of $18.25 million.

The CEX listing announcement was made in an X post at 6:30 PM UTC. While the post confirmed one listing, insiders hint that a second exchange may also be involved.

https://x.com/all_stars_coin/status/1873073947459371325

Price Momentum Builds: $STARS Climbs 22%

Shortly after the announcement, $STARS surged 22%, climbing to $0.00046 from its recent floor of $0.0003587. Bulls are now eyeing a return to the token’s listing price and potentially challenging its all-time high of $0.00206.

With 24-hour trading volumes reaching $6 million and expected to grow as CEX listings go live, $STARS is positioned to attract both new and experienced traders. Centralized exchanges offer lower costs and greater accessibility compared to DEXs, which charge Ethereum gas fees in addition to transaction costs.

Currently trading below its DEX listing and presale prices, $STARS offers an opportunity for early buyers to reduce their entry cost and for new investors to join the market at an appealing price point. 

A $500 investment at the current price could yield a 224% return if the token regains its listing-day value—potentially just the beginning of its upward trajectory.

MemeVault Nears Launch After Successful $20K Competition

Excitement is building around the expected launch of Crypto All-Stars’ MemeVault, slated for January 2025. Although an exact launch date has not been disclosed, anticipation is high following the successful $20K Last Meme Standing Competition.

The event invited community members to stake their favorite eligible meme coins, with the highest staking pool sharing the $20,000 prize. 

Using a unique countdown system, with tokens ranking by most recent staking activity, stakers competed to claim the top spot on the leaderboard. The countdown reset every time a new token was staked, or an existing token had new staking activity.

Once no new tokens were staked, the timer finally ran out, and the competition ended.

As the countdown hit zero, Pepe emerged victorious, with 3.6 billion tokens staked.

https://x.com/all_stars_coin/status/1872372128651358690

This competition served as a showcase for MemeVault’s capabilities, dispelling skepticism about its innovative unified staking system. 

Built on the ERC-1155 standard, the platform supports seamless multi-token handling, providing a robust and proven foundation for Crypto All-Stars’ ecosystem.

https://x.com/all_stars_coin/status/1872742104050614553

Triple Staking Rewards and More Eligible Meme Coins

The MemeVault currently accepts popular meme coins such as Dogecoin, Shiba Inu, Pepe, and Floki Inu, among others. The full list is as follows:

• Dogecoin
• Shiba Inu
• Pepe
• Floki Inu
• Brett
• Mog Coin
• Milady
• Turbo Token
• Toshi The Cat
• Coq Inu
• Bonk

Additional coins will soon be added, further expanding the ecosystem’s appeal.

Stakers holding $STARS tokens will enjoy triple rewards, creating a strong incentive for long-term investment in the native token. 

With audits completed by Coinsult and SolidProof, Crypto All-Stars offers a secure investment opportunity free from concerns about rug pulls or vulnerabilities.

$STARS: Positioned for the Meme Coin Supercycle

With its utility-focused approach, $STARS stands out in the meme coin market, offering better upside potential than larger, more established tokens. 

By appealing to top meme coin holders and delivering consistent staking rewards, $STARS provides a solid foundation for price growth. The token can be found on DEXs, with a CEX listing soon, and can be swapped on BEST wallet.

Savvy investors looking to capitalize on passive income opportunities should consider adding $STARS to their portfolios. Alongside owning their favorite meme coins, holding $STARS ensures access to the full benefits of Crypto All-Stars’ staking ecosystem.

Join the Crypto All-Stars community on Telegram or X for updates.

 Visit Crypto All-Stars to learn more.

With cryptocurrencies poised to explode in 2025, investors are looking for fresh opportunities — like the best altcoins — to boost returns. 

Fundstrat’s Mark Newton foresees the crypto leader Bitcoin ($BTC) reaching a whopping $250K in the upcoming year (a hefty 165.96% spike), signaling golden times for other digital assets. 

Why? When $BTC rises, others often follow – as evidenced by its ‘Fear and Greed Index’ currently being in Greed territory and $HOPPY jumping  by 19.63% over the past 24 hours. 

Notably, this altcoin doesn’t even have utility, indicating a rosy future for those that do in the coming year and beyond. 

$WEPE – $PEPE Processor Overriding Crypto Whales

Wall Street Pepe ($WEPE) is on a mission to capitalize on $PEPE’s success – a celebrated frog coin with a jaw-dropping $7.76B market cap, partly owing to being endorsed by Elon Musk. 

$WEPE pursues this objective by looking akin to its predecessor but donning a practical edge: industry and community insights. 

With hate for crypto whales manipulating the market, the token gives its holders exclusive awareness and incentives to contribute to a more transparent and equitable ecosystem. 

Considering $PEPE’s achievements and $WEPE’s real-world use case, Wall Street Pepe has already accumulated $38M+ on presale, and there are no signs of the capital flow slowing down. 

$SOLX – Low-Entry to Layer-2 Solana Scaling Solution 

Solaxy ($SOLX) is a Layer-2 Solana scaling solution that addresses the network’s limitations (like slow transactions and congestion). 

By partly offloading transactions from Solana, investors can benefit from lower transaction costs thanks to speedier processing times. 

$SOLX is the native token behind the blockchain network. Owing to being a low entry point into Solaxy, it has already garnered $7M on presale. 

Consequently, analysts project $SOLX to explode by at least 10x in the new year, with others being extra ambitious and foreseeing a 100x rise. 

Only time will tell $SOLX’s success. But considering the coin’s currently valued at just $0.001584, it’s probably worth giving a whirl. 

$FLOCK – The Gateway to a Boundless, DAO-Run Ecosystem

Imagine influencing a limitless ecosystem while earning tokens no matter the outcome—$FLOCK makes it all possible.

It’s the backbone of Flockerz, a first-of-its-kind decentralized autonomous organization (DAO)-run platform that spurs users to cast their votes on the ecosystem’s future trajectory in exchange for token rewards. 

A generous 20% of the total token supply is set aside for such rewards, enhancing $FLOCK’s usage, value, and overall development effect.

The rest is available on the official Flockerz website, currently priced at an affordable $0.0065561. Its price won’t spike for another 23 days, giving those interested leeway to secure a place in an unrestricted platform at its lowest current price. 

Further emphasizing that now’s a good time to act, when assessing past trends, $FLOCK is anticipated to increase to $0.00654 –  an impressive 89.1% jump when compared to its current value. 

$BEST – Novel Crypto Wallet Featuring Presale Tokens

Defeating ‘Decembear’ doubts and hinting at more prosperous times to come, the Best Wallet Token ($BEST) has already reached $6M+ on presale. 

Contributing to $BEST’s demand is being the linchpin of Best Wallet, a novel crypto wallet that sets itself apart from its competitors like MetaMask by: 

• Supporting 70 blockchain networks
• Integrating with 200+ decentralized exchanges (DEXs) 
• Featuring presale tokens

Highlighting new tokens before exchange listings is a major boon; the non-custodial wallet gives investors a chance to explore low-cap new projects at their all-time low prices before garnering mainstream attention. 

$MEMEX – World’s First Meme Coin Index

Meme Index ($MEMEX) has been riding as high as Santa’s sled, raising $500K on presale within just two days and over $1M since. 

Driving $MEMEX’s momentum is being the gateway into the world’s first meme coin index. It enables investors to gauge the demand for leading meme coins, highlighting lucrative trading opportunities to make more informed trading choices.

Further adding to the coin’s appeal is its low price of just $0.0147457 and 2085% staking APY opening advantageous passive income streams.

$SLAP – Original ‘Slap-to-Earn’ Meme Coin Venture 

Catslap ($SLAP) brings something entirely new to the crypto realm: ‘slap-to-earn’ mechanics that involve cats slapping meme coins in return for token rewards. 

What’s more, the higher the ‘slapometer,’ the scarcer $SLAP tokens become, making the tokens scarcer and, therefore, likely more desirable. 

$SLAP is already no stranger to success. It spiked by over 5000% after being listed on the DEX MEXC on November 21.

However, you can still buy the slaptastic coin on presale for its current lowest price, $0.00251655. Its price will increase in 10 days, making now an opportune time to get involved. 

$SPONGEV2 – Stake-to-Bridge Mechanism for $SPONGE 

$SPONGEV2 is the success of $SPONGE, a meme coin that spiked 340% post-launch and reached an impressive $100M market cap. 

What sets $SPONGEV2 apart, however, is developing its very own stake-to-bridge mechanism that links the original $SPONGE holders with the V2 ecosystem (provided the V1 tokens are locked in the V2 smart contract). 

Its utility is embedded in staking rewards, with 34.09% of $SPONGEV2’s total token supply being set aside for them. Consequently, it comes as no surprise that a hefty 31,749,488,123 $SPONGE has already been staked. 

Verdict – The Best Altcoins Have Real-World Utility

As crypto continues to gain momentum, the best altcoins with actual real-world use cases – like $WEPE and $SOLX – are positioned to rocket. 

Unlike some meme coins that don’t have utility, they present tangible advantages, such as investor insights and layer-2 scaling solutions that address Solana’s burdensome issues. 

Their performance will become apparent in the coming year and beyond. However, considering $WEPE has already garnered over $38M on presale, there’s clearly strong investor interest that sets the likelihood of explosive growth for such tokens post-exchange listings. 

Of course, also helping matters is $BTC’s anticipated 165.96% rise. 

Still, this isn’t investment advice. Always do your due diligence before investing and ensure investments align with your comfort zone.

The Dogecoin price action over the past three weeks has been characterized by notable corrections and consolidations alongside the rest of the crypto market. Nonetheless, the enduring bullish sentiment surrounding the meme coin suggests that it may be on track to undergoing a significant upward movement very soon. Recent remarks from crypto analyst Javon Marks on the social media platform X go along with this optimism, with the analyst detailing the possibility for Dogecoin to replicate its previous exponential bull runs and reach the $20 price point in 2025.

Dogecoin Price History Points To Looming 305x Run

Javon Marks’ analysis highlights the extraordinary performance of Dogecoin in its prior bull cycles. In his post, he noted that DOGE’s rallies have progressively grown larger with each cycle, showcasing the cryptocurrency’s ability to outperform market expectations. Marks pointed out that the 2017 bull market saw Dogecoin gain unprecedented traction, followed by an even more extraordinary performance in 2021. 

This interesting analysis of the Dogecoin price is based on the 12-day candlestick chart, where Marks highlighted the meme coin’s price action since 2014. The first notable bull cycle, which took place in 2017, saw Dogecoin go on a 90x (9,404%) run that peaked at an all-time high of $0.01858. Similarly, the 2021 bull run, which was more pronounced in the broader crypto market, saw Dogecoin perform a 306x (30,693%) increase that peaked at its current all-time high of $0.736.

According to Marks, the current cycle presents an opportunity for Dogecoin to go on an even larger rally since returns have been bigger with each subsequent cycle. With this historical precedent, he argues that a similar or greater 306x run could push Dogecoin’s price past $20 by 2025. Although this price target is extremely bullish, it resonates with the outlooks of other analysts who have also based their technical analysis on Dogecoin’s movement in previous cycles.

Can Bulls Keep Up The Bullish Sentiment?

At the time of writing, Dogecoin is down by 25% from its December open, making it the second worst-performing month in 2024 as it stands. While Dogecoin’s price has faced corrections for most of December, bullish sentiment remains strong among its community and analysts alike.

This bullish sentiment hinges on the prospect of a more crypto-favorable environment in 2025, specifically in the US. Should this fail to materialize, it could send the crypto market into another bear market, with Dogecoin caught up in the mix.

Realistically speaking, the trajectory to $20 would be very hard at this point, considering the amount of inflow it would take. It requires the alignment of several factors much more than the 2021 bull rally, including favorable market conditions, increased adoption, and retail and institutional interest. 

At the time of writing, Dogecoin is trading at $0.321, down by 2% in the past 24 hours.

Robert Le at PitchBook predicts crypto VC funding to hit $18B in 2025. That’s 50% more than the $12B the industry saw in 2024 but still far from the $30B invested in 2021.

A year of crypto 2023 was not. FTX collapse eroded venture capitalist trust (frankly, it has shaken the confidence even of die-hard crypto traders), and high interest rates gave investors cold feet.

But the tables have turned this year with the approval of crypto exchange-traded funds (ETFs) and a growing political focus on digital assets.

By all accounts, 2025 is looking bright for crypto.

ETFs and Favorable Policies Drive Capital Inflows

Le explains that ETFs fueled generalist interest in crypto, which means substantial outside capital had flown into the market.

On top of that, traditional financial institutions are jumping on board the crypto ship. Take Ripple, for example, which formed partnerships with over 100 banks worldwide in 2024 alone. In 2025, it’s rumored that 80% of Japanese banks will plan to integrate $XRP into their operations.

Lawmakers have no choice but to accept that crypto is here to stay. Even once skeptical about digital assets, Donald Trump now apparently considers a Bitcoin ($BTC) strategic reserve and appoints a pro-crypto team.

Le notes that even no regulatory developments would be an improvement from the ‘regulation by enforcement’ approach the SEC and IRS took in 2024.

The power dynamic is already changing. The Blockchain Association filed a lawsuit against the IRS for forcing decentralized platforms to report user information. It seems that legislators would be better off learning what ‘decentralized’ means before issuing orders.

In 2025, Le expects blockchain technology to expand beyond the crypto industry. New use cases in sectors like energy and mobility could attract VC funding and drive mainstream adoption.

Retail Investors Flock to $WEPE, $38M Raised

All of the above is good news for retail investors, not just whales and institutions. Greater liquidity and clear regulations make it easier for people to launch new projects and join the market.

Wall Street Pepe ($WEPE) launched just in time for this crypto renaissance. Tired of insider conspiracies, $WEPE is assembling his degen army to share knowledge and crush this bull run.

In its first month on presale, $WEPE raised $38M. And that’s just one project – with such a fundraising pace, $18B in annual crypto VC funding doesn’t seem all that unrealistic.

You can buy $WEPE at $0.000366 for the next two hours, after which the price will increase. This means there will be no lower entry point into the $WEPE community than now.

EU Platforms Delist $USDT, Best Wallet Comes to Rescue

The EU is like the US’s boomer uncle who still hopes his savings account will keep up with inflation.

Effective today, the world’s largest stablecoin Tether ($USDT) will be delisted from European exchanges due to incompliance with Markets in Crypto Assets (MiCA) regulation.

This is exactly the kind of bureaucratic nonsense $WEPE stands against.

But keeping your crypto on an exchange was never a good idea to begin with. Luckily, Best Wallet still lets you store and transfer $USDT regardless of your location.

Best Wallet also has a handy presale aggregator where you can buy fresh meme coins like $WEPE without leaving the app. This is both fast and secure because you don’t risk clicking on a malicious link.

To top it all, $BEST token holders get lower transaction fees and a vote on project development proposals. The token is now available on presale at $0.0234, but the price is set to increase in 19 hours.

Closing Remarks

While most tokens are in the red today, the market’s prospects for 2025 are stronger than ever. Favorable regulations and institutional adoption are likely to boost innovation in the industry and attract funding.

Still, no gains are guaranteed – even in a bullish market. We remind you to DYOR and diversify your portfolio to offset potential losses. Take calculated risks but keep a cool head.

Politician and entrepreneur Wu Jiezhuang—a member of the Hong Kong Legislative Council and the National Committee of the Chinese People’s Political Consultative Conference—has called for the inclusion of Bitcoin in the city’s fiscal reserves. The proposal emerged during an interview published by the pro-Beijing newspaper Wen Wei Po, established in Hong Kong on September 9, 1948.

Lawmaker Suggests Adding Bitcoin To Fiscal Reserves

Wu Jiezhuang’s remarks, featured in a special topic piece dated December 30, emphasize that “including Bitcoin in the national financial reserves is not a new idea,” highlighting the fact that a number of smaller countries have already adopted BTC as a legal currency. Wu further pointed out: “Some states in the USA have also legislated that 10% of their reserves be in Bitcoin, allowing for more diversified asset allocation.”

He added that if US President-elect Donald Trump were to “aggressively promote the inclusion of Bitcoin into government strategic reserves,” it would have a global impact, especially on traditional reserve assets. Wu used this context to urge the Hong Kong Special Administrative Region (SAR) government to consider whether to “incorporate digital assets and cryptocurrencies into financial reserves,” including the possibility of using the Exchange Fund for continual BTC purchases over the long term.

In response to these calls, the SAR Government’s Treasury Bureau confirmed that Hong Kong’s foreign exchange fund invests in a “globally diversified asset class and markets to spread risk and enhance long-term returns.” While cryptocurrency is not formally designated as a target investment for the foreign exchange fund, the Bureau acknowledged that “externally hired investment managers also invest in globally diversified asset classes and markets,” allowing for potential—though minimal—cryptocurrency-related investments.

Regarding financial security, the Bureau reiterated Hong Kong’s stance of regulating the crypto market based on the principle of “same business, same risk, same rules.” This approach aims to mitigate risks and ensure that financial security is maintained, while the government continues “to improve the regulatory system and launch measures to promote the development of the local virtual asset market.”

Wu Jiezhuang expressed concerns about the broader ramifications if the United States were to recognize BTC as a strategic reserve asset. He suggested that such a move could destabilize traditional assets: “If economic powerhouses actively incorporate Bitcoin into strategic reserves, its value will stabilize, prompting more countries to follow suit and reduce holdings in traditional assets, causing traditional asset prices to fall and shrinking government financial reserves.”

Wu posited that BTC might eventually replace “precious metals with low practical utility, including gold and silver,” due to its lower storage and transport costs. While mentioning that Bitcoin itself lacks physical utility, he argued that the cryptocurrency’s ease of transfer and storage gives it an edge in market trade-offs, especially compared to gold’s substantial storage and logistics expenses.

Wu underscored Bitcoin’s expanding market presence, referencing the fact that 12 Bitcoin- and Ethereum-linked ETFs are currently traded on the Hong Kong Stock Exchange, while the Hong Kong Securities Regulatory Commission has issued 7 trading platform licenses. This growth stands in stark contrast to a decade ago, when only a small cohort believed in Bitcoin’s potential. However, Wu also noted that “price volatility and a relatively small market value” constitute weaknesses: “With each Bitcoin valued at $100,000, Bitcoin’s total market value is about $2 trillion, far from the global gold value of about $20 trillion.”

He further explained that Bitcoin is “not without risk,” citing both its dramatic price fluctuations and the opaque identities behind wallet addresses. Consequently, Wu advises governments and enterprises to maintain a cautious approach, allocating only a minimal portion of Bitcoin “as fiscal assets” to balance risk and return.

Notably, already in July this year, another Hong Kong Legislative Council member, Johnny Ng, announced plans to assess the inclusion of Bitcoin into the special administrative region’s financial reserves.

At press time, BTC traded at $93,778.

Специалисты по безопасности блокчейнов из компании SlowMist сообщили о криптовалютных мошенниках, распространяющих фишинговые ссылки на платформу онлайн-конференций Zoom.

Криптовалютная биржа Bybit прекратила деятельность в Малайзии после распоряжения местной Комиссии по ценным бумагам (SC). Регулятор призвал инвесторов отказаться от работы с биржей из-за отсутствия у компании регистрации.

Since Bitcoin’s price began to drop after its recent surge to a new all-time high on December 17, several key metrics have been demonstrating bearish movement, sparking uncertainty about BTC’s prospects in the short term. A persistent decline in crucial metrics might lead to a larger drop in BTC’s price to previous support levels.

Coinbase Premium Hints At Reduced Demand For Bitcoin

Bitcoin’s ongoing price pullback has been followed by a persistent downward trajectory of the BTC’s Coinbase Premium Index. Technical analyst and host of the Crypto Banter show Kyle Doops reported the negative development on the X (formerly Twitter) platform, reflecting a reduced buying appetite from investors on the US-based crypto exchange.

This indicator, which calculates how much Bitcoin costs on Coinbase compared to other international exchanges, is frequently used to assess institutional interest. The consistent downtrend comes as market optimism wanes and is indicative of a possible change in investors’ behavior due to price fluctuations.

According to the expert, Bitcoin’s Coinbase Premium Index spiked during Donald Trump’s victory in the US Presidential elections held in early November. Kyle Doops highlighted that this increase helped to fuel BTC’s price above the $100,000 milestone.

However, since December 7, this key metric has been sliding alongside the digital asset’s recent drop below the $94,000 level. Other factors, such as holiday slowdowns and liquidity struggles, appear to be affecting the market, which could lead to an extended decline in BTC’s price in the short term.

While these conditions signal a bearish outlook, Kyle Doops is still confident about Bitcoin’s larger outlook, stating, “It is not over yet.” Thus far, crypto enthusiasts are keeping a close eye on this trend for indications of a wider impact on its price movement in the coming weeks.

This development coincides with Bitcoin witnessing a substantial inflow into cryptocurrency exchanges, signaling rising market activity and investors’ engagement. Specifically, a large movement of BTC to crypto exchanges implies a potential selling strategy by investors, causing a negative outlook for the digital asset.

The significant inflow may be crucial in shaping BTC’s price dynamics in the short term. With waning prices coinciding with exchange inflow, speculations and uncertainty have developed within the community about BTC’s next price move.

BTC’s Holdings At Loss Drops Sharply

Bitcoin may have seen notable volatility, but Kyle Doops has identified a drop in BTC held at a loss, reflecting growing market sentiment. Kyle Doops reported that the amount of bitcoin held at a loss has decreased to about 3 million BTC, down from 3.9 million to 6.1 million during last year’s corrections.

Due to this, investors are demonstrating resiliency and the market is becoming less pressured. Considering the development, the market expert suggests a stronger and healthier outlook for the flagship asset.

Депутат Госдумы России от Чечни Адам Делимханов заявил, что незаконная добыча криптовалют в его республике может быть приравнена к террористической деятельности. Работа по выявлению нелегального майнинга будет усилена, заверил парламентарий, известный близостью к Рамзану Кадырову.

Крупнейший в мире майнинг-пул Foundry Digital вернул пользователю 8,18 биткоинов, которые тот случайно уплатил в виде комиссии за транзакцию при обработке блока 875475, добытого 19 декабря.

Бразильская конгрессмен Джулия Занатта (Julia Zanatta) выступила против цифровой валюты центрального банка DREX (цифрового реала), объявив, что та может полностью заменить наличные деньги и нарушить экономическую свободу граждан страны.

Автор книги о личных финансах Роберт Кийосаки (Robert Kiyosaki) обвинил американскую инвестиционную компанию BlackRock в манипулировании курсом биткоина в интересах крупных компаний-юрлиц.

Гендиректор CryptoQuant Ки Ён Джу (Ki Young Ju) сказал, что сомневается в перспективах появления в Соединенных Штатах Америки стратегического госрезерва биткоинов при новой администрации Дональда Трампа.

Crypto analyst Master Kenobi has provided insights into the current Dogecoin price action while making reference to the Bitcoin halving and previous cycles. Using these metrics, the analyst revealed what phase of the bull Dogecoin is currently in and what next to expect for DOGE. 

What Next For Dogecoin Price Based On Bitcoin Halving And Previous Cycles

In an X post, Master Kenobi noted that it had been 254 days post-Bitcoin Halving while observing the DOGE-BTC weekly chart in logarithmic view. Comparing the Dogecoin price action to the previous cycle, he remarked that the Relative Strength Index (RSI) suggests that DOGE is currently between Step 2 and Step 3. 

Master Kenobi further noted that in the last cycle, the RSI stayed 84 days above the Moving Average (MA), then briefly dropped below it, and then entered a massive pump at Step 3. On the chart, the Dogecoin price is said to have dropped against BTC for two weeks, then moved sideways. The time between the local top and the next peak was 77 days. 

The crypto analyst revealed that a similar pattern for the Dogecoin price is currently unfolding. DOGE’s RSI has also been 84 days above the MA, followed by a drop below it at approximately the same level. The price action now hints at a consolidation phase lasting about 77 days, measured from the last cycle top to the next. 

Using this 77-day timeline, Master Kenobi stated that the next peak for the Dogecoin price should occur around January 20, 2025. He added that he is not focused on the value but on the timing. Meanwhile, the crypto analyst drew attention to a significant event on January 20 that could spark the pump for DOGE. 

Donald Trump’s inauguration is the significant event that Master Kenobi hinted at. The inauguration could contribute to the pump for the Dogecoin price, especially considering that Elon Musk’s Department of Government Efficiency (D.O.G.E) will come to life. 

DOGE Has Completed A Retest Of Critical Zones

In an X post, crypto analyst Kevin Capital revealed that the Dogecoin price has completed the retest of $0.26 and the macro golden pocket and Bull Market Support band. The crypto analyst remarked that for DOGE to remain macro-bullish and head higher, the foremost meme coin needs to see a significant bounce from this zone. 

Kevin added that a loss of the $0.26 zone on weekly closes could be catastrophic. Meanwhile, crypto analyst Trader Tardigrade provided a bullish outlook for the Dogecoin price. He drew attention to a symmetrical triangle that had formed for DOGE and stated that this could act as a solid base for the next leg up. 

At the time of writing, the Dogecoin price is trading at around $0.31, down over 2% in the last 24 hours, according to data from CoinMarketCap. 

Meme coins owned the crypto spotlight in 2024, grabbing 31% of crypto-related search traffic, according to CoinGecko. That’s nearly one in three searches, showcasing their meteoric rise as the year’s top crypto narrative. 

While $DOGE and $SHIB continue to lead with a combined market cap of $113 billion, the ecosystem has expanded to include a wave of innovative projects like $WEPE, $SOLX, and $MEMEX.  

These coins aren’t just riding the trend – they’re shaping its future. 

By the Numbers: Meme Coins in 2024

The search phrase, ‘meme coin’ alone, snagged almost 15% of all crypto search interest, up more than six percentage points from 2023. 

Solana-based meme coins added another 8%, while other offshoot trends like AI-themed meme coins and Coinbase’s Base blockchain projects contributed further. Together, they made 2024 the year of the meme coin renaissance.

$DOGE and $SHIB still dominate, but some fresh entrants are making waves with their own viral appeal. 

$WEPE, for example, captures the gutsy, irreverent spirit of the original Pepe meme, creating engagement through clever campaigns. Think of $WEPE as that unpredictable friend who’s always the life of the party – and sometimes walks away with the cake.

Meanwhile, another contender, $SOLX, appeals to a more cerebral crowd. It’s about more than memes. It’s about solving real problems with decentralized energy solutions built on the blockchain. 

And then there are options like $MEMEX, which bring the best meme coins together under one roof. Meme Index offers investors exposure to multiple meme coin indexes, spreading risk while maximizing their potential upside.

Why Meme Coins Work

So why do meme coins attract so much attention online? 

First, they’re relatable. Unlike abstract DeFi platforms or niche blockchain projects, meme coins speak the language of the internet. They’re funny, creative, and evoke strong emotions, making them perfect for drawing in first-time crypto enthusiasts. 

Second, they offer wild swings – something traders love. 

Meme coins are volatile, sure, but that volatility creates opportunity. Investors love the chance to turn a few dollars into life-changing sums, even if the odds are slim. 

Lastly, they’re entertaining. In a space that can sometimes feel dry and overly technical, meme coins are a breath of fresh air. They’re the comic relief in crypto’s blockbuster drama.

A Look at the Broader Trends

CoinGecko’s report also highlighted other 2024 narratives, like the rise of AI tokens, which secured 12.58% of interest, and real-world asset (RWA) tokens, which climbed to 8.64%. 

Solana-related projects combined for 14.3%, with meme coins taking the lion’s share. 

These numbers reflect a diversified market, but meme coins remain the crowd favorite.

What’s Next for Meme Coins?

As we close out 2024, the meme coin ecosystem looks stronger than ever. 

Projects like $WEPE and $SOLX are expanding the narrative, proving that meme coins can be more than fleeting trends. Whether you’re here for the laughs, the community, or the potential profits, meme coins continue to offer something for everyone. 

It’s clear: Meme coins are no longer just a sideshow – they’re a main act. Keep an eye on this space and promising crypto projects, because the memes aren’t just surviving. They’re thriving. That said, this is not investment advice. Remember to do your own research and don’t invest more than you can afford to.

Dogecoin has often demonstrated its ability to defy expectations and go on notable price surges from time to time. The most notable of these rallies was the 2021 rally, which saw Dogecoin peaking at its current all-time high. However, the best might be yet to come, as technical analysis suggests that Dogecoin is still on track to repeat this move and possibly even surpass it. 

Particularly, recent Dogecoin fractal analysis suggests that Dogecoin is on track to reach anywhere between $4 and $23 within the foreseable future.

Dogecoin’s Price Decline And Historical Fractal Patterns

Dogecoin’s price action has slowed considerably in the past four weeks. The last two weeks of these four weeks have been highlighted by a notable decline, which has culminated in the Dogecoin price breaking below the multimonth resistance level of $0.35 it breached in early November. 

According to technical analysis by crypto analyst Ali Martinez, Dogecoin is currently playing out a fractal movement on the weekly candlestick timeframe chart. Fractals, in technical analysis, refer to recurring patterns that manifest across different scales and timeframes. For Dogecoin, this fractal movement stretches back to its earliest days as a meme coin in 2013 and provides a historical lens to predict its current trajectory.

As shown by the price chart below, the fractal movement is highlighted by a notable correction after a break above a downward sloping trendline drawn from the previous cycle’s high. In the case of this cycle, the correction has seen Dogecoin falling as low as 45.8% from the recent peak around $0.48. However, the corrections in the past two cycles, as shown by the chart below, ended up rebounding to create strong multi-month rallies to new all-time highs.

In the first breakout cycle of 2017, Dogecoin followed a similar trajectory. After an initial breakout and correction, the cryptocurrency embarked on a parabolic rally, ultimately peaking at $0.01855 in early 2018.

This peak aligned closely with the 1.618 Fibonacci extension level measured from the low of the preceding bear market. The second breakout cycle occurred in 2021 and led to an even more dramatic price surge. Dogecoin reached an all-time high of $0.7316, surpassing the 2.72 Fibonacci extension level from the low of the previous bear market.

Fractal Points To Another Parabolic Rally For Dogecoin

Based on the outcomes of previous price action, the current fractal pattern suggests that Dogecoin may be preparing for a similar rebound in the coming months. The extent of this rebound also hinges on the extent of the current correction. If the fractal breakout were to repeat itself, the Dogecoin price could go on another parabolic rally to the 1.618 or 2.272 Fib extension levels, or somewhere in between.

According to Martinez, this would put the price targets anywhere between $4 at the 1.618 Fibonacci extension and $23 at the 2.272 Fibonacci extension.

As of now, Dogecoin is trading at $0.326. A rally to $4 would represent a 1,126% increase from its current price, while a climb to $23 would represent a 6,955% increase.

Featured image from CNET, chart from TradingView

Bitcoin is currently navigating a volatile phase, consolidating below the $100,000 mark after failing to hold it as a key support level. This recent setback has sparked uncertainty among investors, but the future still looks promising. 

Despite the short-term turbulence, key metrics are painting a bullish picture of Bitcoin’s long-term prospects. A notable analysis by analyst Axel Adler highlights the Bitcoin Exchanges netflow-to-reserve ratio, a new metric shedding light on an ongoing accumulation phase in the market. This indicator shows that BTC is being moved from exchanges into long-term storage, signaling investor confidence and a potential price rally as the market matures. 

While Bitcoin may be experiencing a temporary correction, the underlying fundamentals suggest a positive outlook for the digital asset in the future. With strong accumulation signals and growing institutional interest, BTC appears poised to regain momentum and continue its upward trajectory in the coming months.

Bitcoin Accumulation Taking Place

Axel Adler’s recent analysis of Bitcoin’s Exchange’s netflow-to-reserve ratio offers a fresh perspective on the ongoing accumulation phase within the market. The metric, which tracks the flow of BTC between exchanges and wallets, has proven to be a valuable tool in identifying investor sentiment.

A negative value in this ratio indicates that more Bitcoin is being withdrawn from exchanges than deposited, signaling that users are holding their BTC in private wallets rather than actively trading. This reduces the available supply on exchanges and often precedes upward price movements, as it suggests that investors are positioning themselves for long-term gains rather than short-term speculation.

The metric reached a notable peak at the end of the 2022 bear market, during a period of heightened fear and uncertainty. As the price of Bitcoin plummeted to around $17,000, a cohort of savvy investors—whom Adler refers to as “real smart players”—took advantage of the panic selling. These investors recognized the value of acquiring BTC at a discounted price and swiftly moved coins from exchanges to secure long-term holdings. This accumulation phase marked the bottom of the bear market, setting the stage for the bull market that would follow.

Looking at the current market conditions, the netflow-to-reserve ratio indicates a similar trend. Despite the recent volatility and the struggle to hold the $100,000 mark, the ongoing withdrawals from exchanges show that investors are once again accumulating Bitcoin. With the reserve steadily decreasing, the stage is being set for potential upward momentum as these holdings are likely to remain off the market for the long term, supporting the case for a bullish outlook in the years to come.

Holding Key Demand Levels

Bitcoin is currently trading at $94,800, holding strong after bears failed to push the price below the critical $92K support level. This resilience signals that buyers are stepping in, preventing a deeper decline and keeping BTC above this important threshold. 

Now, the focus shifts to the bulls, who need to reclaim momentum and drive Bitcoin past the psychological $100K mark. Successfully breaking this level would not only confirm the strength of the current rally but also open the door for further gains.

However, if the price fails to break above $100K and struggles to maintain upward momentum, a retrace could be on the horizon. A deeper correction is also possible if BTC is unable to hold above key support levels. The most crucial demand zone to watch in case of a price decline would be around $90K. 

This level has historically acted as a strong area of interest, where buying pressure could emerge and prevent a more significant pullback. If Bitcoin fails to hold $90K, it could open the door for a more substantial correction, putting the broader market into a period of consolidation. Traders will need to closely monitor price action near these levels to gauge whether Bitcoin’s bullish trend can resume or if a deeper correction is in store.

 Featured image from Dall-E, chart from TradingView