Author: Krishna Dahal

Krishna Dahal is a web3 and crypto expert with over seven years of experience. Since starting full-time in 2017, he has contributed to 15+ blockchain projects. He is the founder of Lamida Crypto, a platform focused on crypto education and adoption, and the CEO of CheckerChain, a project building a decentralized trust and verification system. Krishna’s leadership has driven innovation in the crypto space, making him a key figure in advancing blockchain technology and decentralized solutions.

Unstoppable Bittensor ($TAO) Spikes Near $600 From $220 In 18 Days

Sep 24, 2024

In this article [ Gen-Z Summary ]

Bittensor ($TAO) is blowing up, hitting almost $600, partly due to Grayscale hyping it up and getting institutional attention.

Bittensor ($TAO) was trading at $220 on Sep 6th, 2024; today, it almost touched $600. Why is $TAO price spiking? Is Bittensor the best AI crypto project? Is Bittensor unstoppable?

Bittensor spikes from 220 to 600 BitMala

One of the reasons for Bittensor’s spike is Grayscale Bittensor Trust. This backing has fueled institutional interests in Bittensor.

Screenshot 2024 09 24 at 9.21.10 AM BitMala

Grayscale is shilling $TAO regularly on the X platform (previously twitter).

When big players are involved, retailers and crypto degens are obviously attracted.

Bittensor is a blockchain that incentivizes digital commodities. Generating quality AI outputs rewards people with $TAO token. Anyone can join Bittensor to create a subnet (to run AI models), to join as a miner and validator. Miners complete requested tasks of validators and validators weigh the miner to reach consensus.

Bittensor is unique with its Yuma consensus. Bittensor has fixed 21m supply cap. Bittensor has halvings. Bittensor has token recycling. Bittensor has a vibe like Bitcoin. What Bitcoin is to Money, Bittensor is to AI.

Marketcap of decentralized $TAO is $4.1 billion USD at $550 while close-sourced OpenAI is valued at $150b. Can we expect $TAO at 4 digit price?

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Net Inflow of $321 million in Crypto Funds After Fed Rate Cut

Summary [ Gen-Z ]:

The Fed cut rates, making money cheaper, and it's flowing into crypto. Last week alone, $321M came in, with Bitcoin taking the lead while ETH, BNB, and ADA were in the red. Interestingly, $5.1M was used to bet against Bitcoin (Short Bitcoin). 

With the Fed's 50 bps rate cut, more cash might hit the market, but it's also a red flag that the economy needs a boost to stay afloat.

With the decision of Fed rate cut, new money is flowing into crypto. Last week’s inflow hit a record of $321 million.

cointelegraph 64e550512094b d8b3446fbd5a3323be8bd810e0a0909a resized BitMala

Based on data released by CoinShares, Bitcoin led the inflow of money while Ethereum, BNB, and Cardano remained negative. Meanwhile, $5.1m inflow went for “Short Bitcoin”.

After the decision of 50 bps rate cut by the Fed, the impacts can be deeper. Cheaper money might enter the market but this also signals a weaker economy that needs artificial boosting.

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Ready For Bitcoin’s Big Dump If No Rate Cut?

Almost everyone will be keeping an eye on tomorrow’s Fed Meeting. US interest rate has never seen a rate cut for 4 years since COVID-19. Now, everyone is expecting a rate-cut decision tomorrow. The debate is – will it be 25 bps or 50 bps?

What if there occurs no rate cut?

  • If no rate cut, both crypto and stock markets will go into panic mode.
  • Risky and volatile assets like Bitcoin and crypto are highly affected.

Chances: Almost 0%

fed rate cut BitMala

What if there occurs a rate cut?

  • Cheaper money comes into the market
  • Money printer starts again
  • People will invest more in risky and volatile assets like $BTC

Is this news already priced in?

  • Simple answer: Yes.
  • Longer answer: Yes, 25 bps rate cut has been priced in; but If it is a 50 bps rate cut, we might witness a bigger pump in $BTC price.

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Solo Miner Gets 860749th Bitcoin Block Wining $181,143

Sep 10, 2024

Today a solo bitcoin miner wins against big mining pools. Solo CK mines the 860749 bitcoin block number and gets $181,143 as a reward.

Screenshot 2024 09 10 at 11.57.01 AM BitMala

Solo mining has become extremely difficult these days because of large mining farms. It is like a lottery to win. But recently we have been frequently hearing these stories of successful solo mining. Why is this? This might be because recently ASICS devices have been improved for home mining. More people are running Bitcoin miners from home.

The miner of 860749 received 3.169 $BTC. Are you mining any other crypto?

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Crypto Market Feels The Pain of September

In this article [Gen-Z summary]:

Bitcoin’s been on a rollercoaster ride. After the halving, prices took a nosedive. We’re in a crypto slump, and September’s not helping. But hey, when everyone’s freaking out, it might be a good time to buy.

Usually the crypto market uptrends after the halving events of Bitcoin. In 2016 and 2020, Bitcoin continued to rise above the price of halving day.

But this time is a different scenario. Bitcoin was at $63.5k on the halving day of April 2024 and now $BTC is trading at $57,000. This bitcoin trend is dragging the whole crypto market down. Will this pain continue throughout September? Let’s find out.

Screenshot 2024 09 05 at 1.06.31 AM BitMala

September is probably the worst month for not only crypto but also for stocks. However, we should be alert that the bottom is nearby as September passes.

Screenshot 2024 09 05 at 1.15.02 AM BitMala

Fear & Greed Index is at 29. Last month was extreme fear at 17.

In these times, we need to remember one thing: “buy when everyone is fearful, and sell when everyone is greedy”. Is it the right time to buy or sell? Decide.

Everyone must remember what happens after September ends in halving the year of Bitcoin. If you don’t know this, check out the chart of Bitcoin on a monthly timeframe.

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“Fed Rate Pivot” Can Bring Turbulence on SP500, Bitcoin & Gold

Fed pivot is arriving this September. Probabilities favor a rate cut when the Fed meets on Sep 18, 2024.

Screenshot 2024 09 02 at 8.48.48 PM BitMala

What happens to SP500, Bitcoin & Gold if the Fed rate cut arrives?

1. SP500

Screenshot 2024 09 02 at 8.52.15 PM BitMala

SP500 crashed when a rate cut happened in 2000, 2007, and 2019.

2. Bitcoin

Screenshot 2024 09 02 at 8.59.27 PM BitMala

Bitcoin crashed when a rate cut happened in 2019.

3. Gold

Screenshot 2024 09 02 at 9.02.48 PM BitMala

Gold crashed when a rate cut happened in 1989, 1995,
Gold rallied when a rate cut happened in 2000, 2007, and 2019.

Now what happens in September?

Based on these charts, SP500 is highly likely to crash when the Fed cuts the rate. But since Bitcoin & Gold are considered “hedging assets”, we can compare $BTC more closely to Gold. And both are likely to rally by the end of September with a Fed rate cut.

What do you think? Will $BTC crash like in 2019 or align with Gold by rallying up?

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Major Memecoins Bottoming Out. Will This Be The Greatest Entry?

Heard of someone turning $100 into 100k or maybe $1k into a million? Well, there are lots of such stories in crypto. But how?

Memecoins are the lottery tickets to these stories. People got an ROI of 100x-10000x from $DOGE, $SHIBA, $FLOKI, $BONK, $TURBO, etc. They are usually driven by the community without any utility. Now, the real question is “when is the right time to buy memecoin”.

Looking at the price chart of top memecoins, Bitmala team has discovered a potential pattern.

Screenshot 2024 09 01 at 8.11.43 PM BitMala

DogWifHat ($WIF) looks extremely oversold at the current price with a stochastic RSI of 20.

Screenshot 2024 09 01 at 8.12.13 PM BitMala

Shiba Inu ($SHIB) looks extremely oversold at the current price with a stochastic RSI of 20.

Screenshot 2024 09 01 at 8.12.43 PM BitMala

Dog Runes ($DOG) looks extremely oversold at the current price with a stochastic RSI of 10.

Screenshot 2024 09 01 at 8.13.06 PM BitMala

Turbo ($TURBO) looks extremely oversold at the current price with a stochastic RSI of 10.

Screenshot 2024 09 01 at 8.13.32 PM BitMala

FLOKI ($FLOKI) looks extremely oversold at the current price with a stochastic RSI of 20.

Screenshot 2024 09 01 at 8.14.36 PM BitMala

BONK ($BONK) looks extremely oversold at the current price with a stochastic RSI of 10.

Screenshot 2024 09 01 at 8.15.11 PM BitMala

Dogecoin ($DOGE) looks extremely oversold at the current price with a stochastic RSI of 20.

Do you see a bottom here? Are you buying any memecoins in this market?

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Bitcoin Rally Nearby As 18th Week After Halving Coincides With Fed Rate Cut

Bitcoin’s price has the potential to cross $100,000 mark in this 4th cycle. But the market always does the opposite of what the crowd thinks of.

Screenshot 2024 08 30 at 9.30.03 PM 1 BitMala

What happened during previous halvings?

  • 2016: For 18 weeks, $BTC was volatile ranging from $670 to $470 (-31%)
  • 2020: For 18 weeks, $BTC was less volatile ranging from $9,500 to $8,500 (-11%)
  • 2024: For 18 weeks, $BTC is volatile ranging from $71,500 to $49,500 (-31%)

$BTC price actions are painful after 4th Halving Event (April, 2024) resembling with 2nd Halving Event (July, 2016). It was painful during Q3 of 2016 just like it is happening now. But the buyers of 2020 period will not understand this as they did not suffer like this.

Price of $BTC at halving is usually marked as lowest price of Bitcoin before mega rally. Will this be true this time?

We’re at 18th week after the 4th halving event. Fed meeting is happening just 3 weeks from today. And there is a high probability of the Fed cutting the rates. Rate cuts make money available in the market more easily. Even though the history of rate cuts shows bearish price action at the beginning, it eventually triggers the mega bull trends.

Bitcoin’s weekly stochastic RSI is sitting at 20 and has enough room for move towards 80. This movement can break 6-digit price for the first time for Bitcoin.

  • Momentum is signaling for $100k
  • Fed rate cut is signaling for $100k
  • History of PA is signaling for $100k

Do you think $BTC will be above $100,000 before 2025?

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