Welcome to The Daily Leo! We pull the best articles in Finance, Crypto news, and Hive/Leo into one condensed information-packed space. Be sure to follow @thedailyleo so you never miss the Daily LEO. You can also subscribe to the newsletter here Subscribe to the Daily LEO Who would be buying crypto at these prices?A forum post from July 2011 where a user questioned the sanity of buying Bitcoin at $13 now serves as a humorous reminder of how unpredictable markets can be. Bitcoin's rise to tens of thousands in value shows the potential of what seemed like an overpriced gamble. This snapshot encourages current investors to stay committed to their investments, as today's skepticism might turn into tomorrow's groundbreaking opportunities. What's To Come For The Crypto MarketsThe crypto market is facing a significant downturn, raising concerns of a bear market despite the upcoming Ethereum ETF launch. Factors like Mt. GOX token liquidations, country-level sell-offs, and futures expiries contribute to the decline. While ETFs brought in retail investors, large cap firms are still catching up. A surge in airdrops often leads to price crashes, and regulatory changes are slow due to the impending presidential election. Despite these challenges, we are still early in the crypto adoption phase, with a small fraction of the global population holding and using crypto. The Current Market - A Perfect Example Market fluctuations can shake investors, leading them to sell at the worst times. Dedication and discipline are key to success. Maintaining a stablecoin reserve like HBD, which offers 20% APR, can provide stability and opportunities during dips. Never exhaust your investment capital; always be ready to deploy funds during corrections. Despite short-term fragility, Bitcoin shows long-term strength, with potential surges expected between July and August. How Bitcoin Might Bounce BackBitcoin's future is uncertain due to events like Mt. Gox's potential release of 142,000 bitcoins to creditors and Germany's sale of confiscated bitcoins, which led to a price drop. However, mining costs are decreasing, suggesting miners might hold their coins, and technical indicators show Bitcoin is oversold, indicating a possible bounce back. Additionally, potential interest rate cuts by the US Federal Reserve could weaken the dollar and boost Bitcoin. Despite current challenges, there are signs that Bitcoin's recovery is possible. Finally, the updates on the side of InLEO's new cross-chain product called LeoDEX have been going on. LeoDEX has finally facilitated $100k worth of swap volume! What an amazing milestone! Baby steps right?! Also, they say the first $100k is always the hardest. Soon, LeoDex will be the center of cross - chain transactions with a couple of clicks and very low cross - chain fees. Explore the introduction to LeoDex by a lion 🦁 InLEO is a blockchain-based social media platform for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards. Subscribe to The Daily Leo and start being up to date with the crypto & finance world!The Daily LEO is free today. But if you enjoyed this post, you can tell The Daily LEO that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
Friday, July 5, 2024
Who Is Buying Bitcoin At This Price!
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