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Bitcoin: a safe bet in an uncertain market? Michael Saylor Warns of Altcoin Crackdown

TokenTalk Staff

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Bitcoin Maximalist Michael Saylor Predicts XRP, ETH, BNB, and ADA Will Never Have an ETF

In a recent tweet, Michael Saylor, the influential founder of MicroStrategy, attracted attention by comparing crypto investment decisions to a pivotal moment in “Indiana Jones and the Last Crusade.” Saylor, known for his strong advocacy in favor of Bitcoin (BTC), highlights the importance of selecting BTC as your investment tool of choice.

Here’s a glimpse of his insight.

Saylor’s strong support for Bitcoin

Saylor, a prominent figure in the crypto world and a staunch supporter of Bitcoin (BTC), has always supported the leading cryptocurrency. MicroStrategy’s continued BTC purchases over four years demonstrate its unwavering commitment. Beyond stocks, Saylor defends Bitcoin daily on platforms like Twitter, fervently rallying support.

However, amid the frenzy that reigns altcoins and their regulatory status, Saylor strikes a cautious note. Expressing doubts, he expresses concerns about the regulatory fate of altcoins, pointing to names like XRP, SOL, ADA and ETH as potential unregistered securities.

Perhaps it aligns with the SEC’s position on this issue, providing that all altcoins could eventually be classified as securities.

Bitcoin vs Altcoins: Who Takes the Crown?

Saylor’s confidence in Bitcoin’s regulatory advantage stems from its recognized commodity status by the SEC and CFTC. This sets Bitcoin apart, providing a safer position compared to altcoins facing increasing regulatory scrutiny.

A recent review of Ethereum’s regulatory status, particularly by SEC Chairman Gary Gensler, highlights the challenges for altcoins. As US crypto exchanges face increased scrutiny, altcoins face a difficult path, contrasting with Bitcoin’s clearer regulatory path.

Bitcoin Price Performance

Saylor’s warning reflects current market volatility and highlights the challenges facing altcoins amid regulatory uncertainty, positioning Bitcoin as a safer haven.

Over the past 24 hours, Bitcoin saw a 5% decline, from $63,284 to approximately $60,300driven by a downtrend illustrated by a descending triangle pattern on the hourly chart.

Earlier Coinpedia reported that crypto analyst Michael van de Poppe predicted a further potential decline for Bitcoin to a range between $55,000 and $52,000 if it fails to maintain its current trading range at $60,000.

With the recent drop in Bitcoin prices, are you rethinking your crypto investment strategy? Share your thoughts.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Here’s When Altcoin Market Cap Will Reach New All-Time Highs, According to Trader Jason Pizzino

TokenTalk Staff

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Here's When Altcoin Market Cap Will Reach New All-Time Highs, According to Trader Jason Pizzino

A widely followed analyst reveals a possible timeline for altcoin markets to record new all-time highs.

In a new strategy session, trader Jason Pizzino tells his 329,000 YouTube subscribers that he’s taking a close look at the TOTAL3 chart, which tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins.

According to Pizzino, TOTAL3 experienced a 26-month accumulation period during the last cycle, spanning from late 2018 to early 2021, before launching a parabolic surge.

Pizzino says TOTAL3 could reflect the same pattern in this cycle and could be a few months away from triggering a strong bullish surge.

“That would take us around February, so the first quarter [of 2025]. As you look at the fourth quarter of 2024 – the first quarter of 2025, I think that probably had a pretty good move to a new high price…

All this fear of a market decline would be forgotten in the fourth quarter. I’m going to put myself in danger here. »

Source: Jason Pizzino/YouTube

Looking at the trader’s chart, he seems to predict that the total altcoin market cap will fall to the 50% Fibonacci level, at around $400 billion, before sparking a recovery and hitting a new all-time high at -above $1 trillion by early next year.

At the time of writing, TOTAL3 is hovering at $597 billion.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

TokenTalk Staff

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Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

Kitco NEWS has a diverse team of journalists who cover the economy, stock markets, commodities, cryptocurrencies, mining and metals accurately and objectively. Our goal is to help people make informed market decisions through in-depth reports, daily market summaries, interviews with leading industry figures, comprehensive (often exclusive) coverage of important industry events and analyzes of developments affecting the market.

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Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

TokenTalk Staff

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Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

An Analyst Who Accurately Called the 2022 Crypto Collapse Becomes Bullish on Solana (GROUND) and rendering (RNDR).

Analyst pseudonym Capo tell its 90,280 Telegram subscribers than Ethereum (ETH)-rival Solana and RNDR, the graphics processing unit (GPU) rendering blockchain, are likely in an uptrend.

“Added more to the long SOL and RNDR.”

Solana is trading at $133 at the time of writing, down almost 7% in the last 24 hours. Meanwhile, RNDR is trading at $7.17 at the time of writing, down 10% in the last 24 hours.

The analyst also monitors the OTHERS three-day chart, which tracks the total crypto market capitalization excluding the 10 largest digital assets and stablecoins, for signs of a rebound.

“Altcoins: the green zone is support but we should see a rebound soon. If green holds, then we should expect movement towards the red zones (T1 and T2). If green doesn’t hold, then blue. Judging by sentiment and indicators, I think the bullish scenario is more likely.

Source: Capo/Telegram

OTHERS is valued at $219.25 billion at the time of writing, down more than 7% in the last 24 hours.

Then the trader says that ETH against Bitcoin (BTC) could be preparing for an escape.

“ETH/BTC: This looks bullish.”

Source: Capo/Telegram

Looking at his chart, the analyst suggests that ETH/BTC could soon reach 0.065 BTC ($4,196). ETH/BTC is trading at 0.0532 BTC ($3,442) at the time of writing, up slightly over the past 24 hours.

Finally, the analyst claims that the bottom could be reached for the crypto market and predicts that a breakout is coming.

“The market has reached its lowest level again. BTC is holding above $65,000, but alts are suffering much more. It’s like that. Overall, it looks like local background training. Too negative sentiment and financing, filled offers and everything is very oversold. I still expect a strong rebound.

Bitcoin is trading at $64,661 at the time of writing, down 2.5% in the last 24 hours.

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Altcoin selloff wipes out $4.9 billion in DeFi TVL

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