0xpnd @0xpnd

$HIGH has been taken in a #SHORT position for a small amount 📉 Within the context of a contracting downward channel, the coin has tested the upper boundary (an inclined resistance line) originating from around February 28th.

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0xpnd @0xpnd

3 years ago

There might still be some interesting movements in the market today, but overall, the weekend is approaching, so the market will likely be quite dull in the coming days. 😴

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0xpnd @0xpnd

3 years ago

Nevertheless, I view the current movement on the 1-hour timeframe as a retest of the broken level at $26,600, from which we are likely to see a rebound and further correction.

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0xpnd @0xpnd

3 years ago

Good morning, friends! 👋 The situation with Bitcoin has remained relatively unchanged, as it is already Friday, and the market naturally experiences reduced volatility and trading volumes.

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0xpnd @0xpnd

3 years ago

Investors are accumulating tokens tied to fiat currencies, indicating their readiness to enter Bitcoin and other digital currencies.

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0xpnd @0xpnd

3 years ago

Santiment, a data analytics company, also notes a growing interest among whales and sharks, those holding between $100,000 and $10 million, in stablecoins like USDC, BUSD, and DAI.

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0xpnd @0xpnd

3 years ago

The increase in USDT supply began in January 2023. According to data from Kaiko, traders are shifting towards Tether amidst the crisis. Currently, USDT accounts for 76% of the total market capitalization of fiat-backed stablecoins on centralized platforms.

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0xpnd @0xpnd

3 years ago

The last time the supply of this digital currency exceeded $83 billion was in early May 2022 when it reached $83.23 billion, but by July, USDT's market capitalization had dropped to $65.96 billion.

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0xpnd @0xpnd

3 years ago

📢 Tether's Market Cap Reaches Annual High The market capitalization of the stablecoin Tether (USDT) reached $83.027 billion on May 24th.

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0xpnd @0xpnd

3 years ago

Additionally, it's important not to overlook the fact that investing all of one's money in such a scheme is not advisable. There may be an urgent need for cash, forcing a rushed sale at a loss.

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0xpnd @0xpnd

3 years ago

This loss doesn't stem from the idea of averaging Bitcoin purchases at regular intervals with equal amounts being a bad strategy. It's because this strategy works better over longer time frames.

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0xpnd @0xpnd

3 years ago

The overall negative result of this operation amounted to -$239,395,601.9 USD. In other words, the individual managed to use the supposedly most useful and fail-safe advice on earning through averaging Bitcoin purchases and still lost 50%.

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0xpnd @0xpnd

3 years ago

Large sums of $50 to $100 million were withdrawn. Just six days later, on March 11, 2023, the price of Bitcoin plummeted by 11%.

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0xpnd @0xpnd

3 years ago

However, the purchases ceased on January 1. A total of 17,536.26 BTC was acquired, amounting to $465 million. The entire amount was withdrawn on March 5, 2023, when the price of Bitcoin was $22,348.