A top trader who nailed Bitcoin’s (BTC) 2018 bear market bottom is predicting another leg down for the crypto king. Pseudonymous analyst Bluntz tells his 224,800 followers on the social media platform X that BTC has likely printed a bearish lower-high setup after it failed to take out its resistance at $27,000 last week. According to the analyst, BTC is in the midst of an ABC corrective move that could push Bitcoin to a six-month low of around $23,800. “I don’t think the ‘bottom’ is in yet because the structure just doesn’t look right yet for me. I think the $24,800 lows need to be convincingly taken out first and the last 39 days of price action potentially part of a larger sideways correction. I have some skin in the game but mostly still in stablecoins and waiting on the sides for now.” Bluntz is a popular practitioner of the Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price action by following crowd psychology which tends to manifest in waves. According to the theory, a bullish asset may go through an ABC correction before potentially resuming its uptrend. At time of writing, Bitcoin is worth $26,646. Bluntz is also watching the performance of tech stocks Microsoft (MSFT), Apple (AAPL) and Nvidia (NVDA). According to the trader, the three large-cap tech names are flashing a potential bearish reversal signal on the quarterly chart. “Quarterlies closing in a week and there’s some absolutely horrendous quarterly candles and [bearish divergences] forming on mega caps right now. Insert ‘this is fine’ gif.”  *Disclaimer: This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #BTC #BinanceTournament #crypto2023

A top trader who nailed Bitcoin’s (BTC) 2018 bear market bottom is predicting ANOTHER LEG DOWN 😨🚨 for the CRYPTO KING📉💥😱.Pseudonymous analyst Bluntz tells his 224,800 followers on the social media platform X that BTC has likely printed a bearish lower-high setup after it failed to take out its resistance at $27,000 last week.According to the analyst, BTC is in the midst of an ABC corrective move that could push Bitcoin to a six-month low of around $23,800.“I don’t think the ‘bottom’ is in yet because the structure just doesn’t look right yet for me. I think the $24,800 lows need to be convincingly taken out first and the last 39 days of price action potentially part of a larger sideways correction.I have some skin in the game but mostly still in stablecoins and waiting on the sides for now.”Bluntz is a popular practitioner of the Elliott Wave theory, an advanced technical analysis approach that attempts to predict future price action by following crowd psychology which tends to manifest in waves. According to the theory, a bullish asset may go through an ABC correction before potentially resuming its uptrend.At time of writing, Bitcoin is worth $26,646.Bluntz is also watching the performance of tech stocks Microsoft (MSFT), Apple (AAPL) and Nvidia (NVDA). According to the trader, the three large-cap tech names are flashing a potential bearish reversal signal on the quarterly chart.“Quarterlies closing in a week and there’s some absolutely horrendous quarterly candles and [bearish divergences] forming on mega caps right now. Insert ‘this is fine’ gif.” Don’t forget to follow #CryptoTalk for more alpha 💸Remember, this is not a financial adviceDYOR

Beginner's guide to cryptoeconomics - the impacts to Traders and investors (Part 1) In simple terms, cryptoeconomics provides a way to coordinate the behavior of network participants by combining cryptography with economics. Meanwhile, Cryptoeconomics brings together the fields of economics and computer science to study the decentralized marketplaces and applications that can be built by combining cryptography with economic incentives. More specifically, cryptoeconomics is an area of computer science that attempts to solve participant coordination problems in digital ecosystems through cryptography and economic incentives.  It is essential to consider cryptoeconomics when building decentralized networks because it is the mechanism that provides a way to align participants’ incentives without the need for trusted third parties. Rather than being a subset of traditional economics, cryptoeconomics is a mix of game theory, mechanism design, mathematics, and other methodologies from the field of economics. The main goal is to understand how to fund, design, develop, and facilitate the operations of decentralized networks. This article will dive into the origins of cryptoeconomics and its role in the design of Bitcoin and other decentralized networks. What problem does cryptoeconomics solve? Before the emergence of Bitcoin, it was commonly believed to be impossible to create a peer-to-peer network where consensus is achieved without significant vulnerabilities to attacks and faults. This problem is often referred to as the Byzantine General’s Problem. It is a logical dilemma that demonstrates how, in distributed systems, it is critical for the different actors to reach agreements. The problem assumes that since some of the actors might be unreliable, agreements can never be made, and the network cannot function as intended.  Wait for part 2 Let's keep Learning and building together 💪 #Crypto_Angel

Billionaire's Blunder! Mark Cuban's $870,000 Crypto Vanishes in a Shocking MetaMask Hack🚨👀 When you think of savvy business moguls, Mark Cuban usually tops the list. But even billionaires aren't immune to the wild west of the crypto world! 🌍💰 The latest scoop? Mark Cuban, owner of the Dallas Mavericks and Shark Tank star, experienced a jaw-dropping hack. His MetaMask wallet, which had been napping for the past five months, suddenly woke up, and a cool $870,000 vanished from it. Just. Like. That. 😱 The hero of our story? It's not Cuban, but rather the eagle-eyed blockchain detective, @WazzCrypto. On September 15th, around 8 PM UTC, this crypto Sherlock noticed that something was fishy with Cuban's once-dormant wallet. Quick transactions in USDC, USDT, and stETH within a blink-and-you-miss 10-minute window. Suspicion level: 100! 🔍 Now, here's where things get spicy 🌶️. An additional $2 million in USDC was whisked away to another wallet. Some folks raised eyebrows, whispering, "Was Cuban doing some secret portfolio shuffling?" But nope, it was all a cruel game by some crafty hackers. When the news reached Cuban, his first reaction? "Someone got me for 5 ETH." That's roughly $9,000! But the nightmare didn't stop there. Diving deeper, it became clear that Cuban was down by $870,000, spread across a whopping 10 different cryptocurrencies. Cuban's theory? "I’m pretty sure I downloaded a version of MetaMask with some shit in it," he shared with DL News. As we know, the crypto world is littered with cunning scammers crafting fake MetaMask apps, waiting for the perfect prey. Their prize? Private keys and seed phrases. Their goal? Draining crypto wallets dry. But Cuban isn't one to stay down for long. He quickly moved to safeguard his remaining assets, transferring them to Coinbase. And though he might have lost a chunk of change, he hasn't lost his spirit or his beliefs. Cuban's view on crypto remains clear: 99% of tokens are bound to crash and burn. #crypto2023 #cryptocurrency #crypto

The post Expert Says Binance is the Reason for SEC’s Bitcoin ETF Decision Stalling appeared first on Coinpedia Fintech News While the crypto community eagerly awaited the Securities and Exchange Commission’s (SEC) decision on the spot Bitcoin ETF applications, a fresh perspective arises, casting a different light on the delay. Satoshi Stacker, a crypto expert, shares insights suggesting that the wait may be linked to Binance, our beloved top crypto entity. Binance in the Regulatory Crosshairs Satoshi Stacker believes the SEC is buying time for regulators to further scrutinize Binance. As traditional financial players like BlackRock and Fidelity have shown increasing interest in the crypto space, Binance stands as a colossal competitor.  Is the SEC delaying the spot #Bitcoin ETF decisions to make more time for Binance to be taken down by regulators? We all know that tradfi entities like BlackRock and Fidelity want to control and profit from crypto now that they know it isn’t going anywhere. Not only is… — Satoshi Stacker (@StackerSatoshi) September 4, 2023 Whispered rumors of market manipulation and potential non-compliance issues, such as Anti-Money Laundering (AML), have tainted the crypto giant’s reputation. If these allegations hold weight, sidelining Binance could pave the way for traditional finance behemoths to step in, thus “cleaning up” the crypto industry’s image, said Satoshi Stacker. Traditional Finance Titans Eye the Crypto Crown With Binance under the microscope, traditional finance giants like BlackRock and Fidelity may see an open avenue to dominate the crypto sector. Not only would this shift be lucrative for these established companies, but it could also benefit the US government. Traditional financial institutions are more likely to adhere to set regulatory standards, granting governmental bodies the control they seek over the unpredictable crypto frontier. Adding fuel to Satoshi Stacker’s theory, the Department of Justice (DoJ) is reportedly crafting a case against Binance, mulling over potential fraud charges. The analyst suggests the SEC’s decision delay could be a strategy to provide the DoJ ample time to build a robust case. The Wait Continues As we all know, the SEC has pushed the decision on six significant spot Bitcoin ETF applications, leaving the industry in a lurch. Major players including WisdomTree, VanEck, Invesco Galaxy, Bitwise, Valkyrie, and Wise Origin Bitcoin Trust by Fidelity find themselves in this waiting game. Given the SEC’s recent courtroom setback against Grayscale, many speculated that the agency might soon give the green light to the much-anticipated spot Bitcoin ETF.