Riding The Wave News Summary 149
$160K at next halving? Model counts down to new Bitcoin all-time high, Elon Musk Breaks Silence on Crypto, Warns Against Dogecoin Speculation, & more.
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News
Table of Contents
Tweets
$160K at next halving? Model counts down to new Bitcoin all-time high
Elon Musk Breaks Silence on Crypto, Warns Against Dogecoin Speculation
'SEC Has No Intention' of Providing Clear Rules for Crypto: Coinbase
Crypto Security Firm Unciphered Claims Ability to Physically Hack Trezor T Wallet
Tweets
https://twitter.com/WatcherGuru/status/1661520231376773120
https://twitter.com/WatcherGuru/status/1661515995876392960
https://twitter.com/WatcherGuru/status/1661439980424626182
https://twitter.com/callieabost/status/1661436881899323405
https://twitter.com/WatcherGuru/status/1661403352062734336
https://twitter.com/JoeConsorti/status/1661120221648748544
https://twitter.com/WhaleChart/status/1661146515149312000
https://twitter.com/FinanceLancelot/status/1661128659401408512
https://twitter.com/callieabost/status/1661112839312908312
https://twitter.com/NorthmanTrader/status/1660977953054814208
https://twitter.com/WhaleChart/status/1660958272927531012
https://twitter.com/GameofTrades_/status/1661016637338959875
https://twitter.com/GameofTrades_/status/1660993989170847744
https://twitter.com/WatcherGuru/status/1660949213348339712
https://twitter.com/GameofTrades_/status/1660631599485014016
$160K at next halving? Model counts down to new Bitcoin all-time high
In his latest analysis, TechDev confirmed that he believes BTC/USD will see a “parabolic top” around the 2024 block subsidy halving.
Less than 12 months away, Bitcoin’s next halving is already the topic of debate among market participants.
Some argue that the event will lay the foundations for the next all-time high, in line with previous halving cycles.
For TechDev, however, the new BTC price record should come sooner than later, in Q2 of 2024.
The idea was initially covered in a Market Update blog post earlier in May. This week, meanwhile, it was described as his “primary time-based idea.”
A chart uploaded to Twitter showed the path to the Q2 top dotted with resistance lines, Fibonacci retracement levels and the current all-time high from 2021.
Ultimately, BTC/USD should top out at around $160,000, it predicts.
TechDev additionally updated a log scale BTC price prediction which he nonetheless acknowledged was unlikely to come true.
“Not a forecast. Not a prediction. Not even my primary idea,” a prior update from August 2022 stated.
In ongoing research, popular trader and analyst Rekt Capital reiterated that Bitcoin failed to keep hold of support levels required for upward continuation.
“BTC continues to reject from ~$27600. Weeks ago, this level was decisively lost as support. And for the past 2 weeks - it is a firm resistance,” he tweeted on May 24.
Elon Musk Breaks Silence on Crypto, Warns Against Dogecoin Speculation
Tech billionaire Elon Musk has maintained an air of intrigue with his prolonged silence regarding his position on crypto assets for months now.
Musk’s silence on crypto led some investors to interpret it as either a signal of waning interest or a strategic pause, waiting for the opportune moment to take action.
He briefly touched upon the topic of cryptocurrencies during the Wall Street Journal’s CEO Council Summit in London this week, with a specific emphasis on dogecoin.
“I’m not advising anyone to buy crypto or bet the farm on dogecoin,” he said in a virtual conference, and cautioned against investing one’s life savings into the meme-inspired digital currency.
However, he did reiterate his fondness for dogecoin (DOGE) as his favorite cryptocurrency, citing its inherent humor and inclusion of dogs. He didn’t share any further insights or opinions on any other digital assets.
Crypto enthusiasts were keen to know whether Musk would integrate crypto into Twitter after he assumed the role of CEO. While he hasn’t been open about any crypto-related plans, he made a temporary alteration to the micro-blogging site’s logo in April by replacing it with the iconic Shiba Inu image associated with the dogecoin meme.
'SEC Has No Intention' of Providing Clear Rules for Crypto: Coinbase
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