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- đ˘ Forget Altseason?
đ˘ Forget Altseason?
What this forever range means for an altseason. Plus, what's up with mining stocks?
Sebastian Soran
August 01, 2024
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Happy Thursday, Zingernation! Kamala Harrisâ election odds keep rising. But does that have anything to do with her reported crypto pivot?
Today, we look at whether the Bitcoin sideways range means we can forget about an altseason, whatâs going on with Bitcoin mining stocks and more.
Plus, our partner shares the worldâs most bizarre trading strategy.
MARKET SNAPSHOT
TOP STORY
Briefly: Amid continuing sideways price action, traders are caught in two minds about whether an âaltcoin seasonâ is coming any time soon.
So Basically: Some see Bitcoin dominance running up against historic peaks, while others expect no altseason before the next interest rate cut.
So Then: Industry expert Benjamin Cowen compared the scenario to 2019 when Bitcoin trended down for a while after gold broke out.
So What: In the last cycle, altcoins broke down one month ahead of the first-rate cut and Cowen expects something similar in this cycle also.
TOGETHER WITH TIM
This Millionaire traderâs best performing strategy is the most bizarre thing Iâve ever seen.
Step 1: He looks for a specific catalyst in the news on Friday.
Step 2: He places one simple trade around 2:59 pm.
Step 3: And if all goes to plan⌠He cashes in on Monday.
Heâs used this simple 3-step strategy to make $8,780⌠$9,518⌠and even $16,159 on the weekend. And his new exclusive training will show you exactly how to do it yourself.
He usually only offers this training to his students for over $2,000 a year. But right now for a very limited time, heâs offering it for just $7!
FIVE ZINGERS
Pivoting: Kamala Harrisâ election odds are at 43% and rising and that may just be due to her reported crypto-friendlier positionsâŚ
Careful, Elon: Bitcoin naysayer has warned Elon Musk that he would lose money on his Bitcoin purchases, saying it was âa mistake.â
Honey Trap: Tucker Carlson thinks the CIA is âobviouslyâ behind Bitcoin and, just like the messenger app Signal, itâs a honey trap.
Get Ready: Despite the frustrating price action, traders remain confident that the real bull run for Dogecoin has not even begun yetâŚ
Happy Birthday: Shiba Inu is celebrating its fourth birthday with burn rates of over 900% and is focused on âlong-term developments,â said the marketing lead.
FINTECH FOCUS
Briefly: Bitcoin mining stocks are volatile on Thursday following Riot Platforms Incâs second-quarter financial results.
What Happened: Riot missed analyst estimates on the top and bottom lines, reporting revenue of $70.018 million and a quarterly loss of 32 cents per share.
What Else: Following the print, HC Wainwright & Co. analyst Mike Colonnese reiterated Riot with a Buy rating and maintained a price target of $17.
Why It Matters: Marathon Digital is due to report second-quarter earnings after the market close on Thursday.
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