Fears Of An Impending Massive Crypto Market Dip

“We Sold Everything,” Research Firm Reveals Amid Fears Of An Impending Massive Crypto Market Dip

By Newton Gitonga – April 16, 2024

Popular crypto research firm 10X Research has liquidated all its crypto holdings, fearing a deep price correction amid ongoing market volatility.

This development was brought to light by the firm’s founder, Markus Thielen, in a Monday blog post raising concerns over fears of an imminent market downturn driven by inflationary pressures and rising Treasury yields.

“We sold everything last night,” Thielen wrote, adding, “Our growing concern is that risk assets (stocks and crypto) are teetering on the edge of a significant price correction.”

Thielen outlined the rationale behind the decision, citing the bond market’s projection of fewer than three rate cuts and the 10-year Treasury yields surging past 4.50% as key indicators signalling a potential price correction for risk assets.

The analyst further noted that much of the crypto rally in 2023 and 2024 has been driven by expectations of a US rate cut, but that scenario is now “seriously questioned.” He also pointed out that miners’ slowdown in Bitcoin ETF inflows and the potential sale of $5 billion worth of Bitcoin could negatively affect the market for several months.

The pundit’s disclosure has elicited mixed reactions, with some in the crypto community calling out the firm for its seemingly contradictory statements. Notably, just last week, the firm noted that Bitcoin could soon rally to new record highs of $80,000 after breaking out of a triangular consolidation.

“You change your mind every two seconds. In the last eight days you’ve called for BTC 80,000, said it will be choppy for months, and now sold everything. that’s retail style day trading.” One critic stated.

Thielen clarified its stance in response, asserting a consistently cautious approach since March 8. As per the analyst, when the triangular breakout faltered, they implemented a stop-loss strategy at $68,300, aligning with their risk-reward trading ethos distinct from venture capital methodologies.

“This is simply risk-reward trading. We are traders, and not VC guys… different approach…,” he added.

Thielen’s disclosure comes amidst growing market uncertainty, especially with the Bitcoin halving on the horizon. Notably, Bitcoin has been experiencing a downward trend for the past two weeks, shedding just over 10% in the last seven days alone. And while the price remains above a critical support range between $61,000 and $62,000, some experts suggest the possibility of further correction, potentially dipping below $60,000 before a post-halving rebound.

Crypto analyst Ali Martinez highlighted $61,000 as the pivotal support level and $72,400 as the critical resistance level for Bitcoin. Martinez further suggested that Bitcoin could retreat to $56,200 or $51,600 if it breaches support. Conversely, breaking past resistance could lead to price targets of $79,000 and $86,000.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

From Financial To Physical The Next Big Thing In Crypto – DePIN

From Financial To Physical. The Next Big Thing In Crypto – DePIN

Recently, there has been significant interest in decentralized physical infrastructure, also known as DePIN, within the crypto space. People are curious about the potential of this niche and which specific projects within it are worth noting. The latest detailed study, titled State of DePIN 2023 by Messari, aims to provide insights into these questions. This summary will highlight key findings from the report and discuss their potential impact on the cryptocurrency market.

What Is DePIN? 

The report commences with a concise delineation of DePIN, an acronym for decentralized physical infrastructure. It encompasses a cluster of ventures that employ cryptocurrency-based incentives to foster a range of physical infrastructure. These initiatives span from decentralized Wi-Fi systems, decentralized computing clouds, decentralized cloud storage solutions, and decentralized mobile networks to other similar endeavors. A salient feature that sets most DePIN projects apart, in addition to their crypto-based incentives, is the accessibility for individuals to contribute, provided they possess the requisite hardware.


Source: The Messari Report.pdf

The report highlights that DePIN solutions have the advantage of being more efficient, resilient, and high-performing than their centralized counterparts. Additionally, DePIN projects can rapidly innovate and evolve due to community participation, which gives them a unique edge over centralized projects. This efficiency and resilience not only make them attractive to investors but also instill confidence in their long-term viability.


Source: The Messari Report.pdf

The authors posit that DePIN initiatives possess a self-reinforcing mechanism known as a flywheel, whereby their growth and influence fuel further adoption and expansion. As these projects gain traction and popularity among users and service providers, they become even more potent and widespread, creating a positive feedback loop. The authors project that DePIN will substantially impact the global economy, with the potential to augment GDP by a staggering $10 trillion over the next decade. This ambitious projection underscores the transformative potential of these projects.


Source: The Messari Report.pdf

The authors go on to list the industries in which DePIN is currently causing significant changes. These industries encompass various areas such as digital maps in the crypto sector, energy grid management, home internet services, food delivery platforms, ride-sharing services, and, surprisingly, even pet and livestock-related projects. It should be noted that these endeavors are still in their initial phases.

The authors have categorized crypto projects in the DePIN niche into six categories: compute, wireless, energy, AI, services, and sensors. According to their analysis, there are over 650 cryptos across these categories, with a combined market capitalization of over $20 billion.

 
Source: The Messari Report.pdf

The DePIN projects have garnered significant interest from venture capitalists, resulting in substantial capital being invested. To put it in perspective, the top ten DePIN projects alone have collectively secured a significant amount of funding. It's worth noting that many of these projects continue to attract investments even after their initial coin offerings (ICOs) and the launch of their main networks.

It is uncommon for a crypto project to secure substantial funding after its ICO. However, when this does happen, it indicates that investors have tremendous confidence in the project's potential. The DePIN niche has attracted significant post-ICO funding, with numerous projects raising substantial amounts. The top ten DePIN crypto projects in terms of funding raised include Filecoin and Helium, each securing $250 million, RNDR Network with $100 million, Fetch AI with $75 million, Livepeer with $50 million, Really with $35 million, Hivemapper with $25 million, Andrena with $25 million, Braintrust with $25 million, and DIMO with $20 million.

DePIN Blockchains

Intriguingly, most of the nearly thousand crypto projects operating within the DePIN space are opting to deploy on a select few cryptocurrency blockchains. This observation encompasses both layer one and layer two blockchains, with Solana emerging as the most favored layer one choice among DePIN projects.

The authors cite the high speed, affordability, and use of the Rust programming language as reasons for this. Among layer two solutions, Caldera and Eclipse are favored for DePIN projects. These platforms offer flexibility, enabling DePIN projects to blend Ethereum's security with Solana's performance, as seen in the case of Eclipse.

In addition to layer one blockchains that prioritize DePIN, the authors highlight some notable examples. Iotex is one such example, which was already utilized by the US military for health monitoring trials in November 2021. Peaq, on the other hand, is still in the pre-launch phase, but it has already generated significant interest and excitement within the community.

The importance of DePIN adoption cannot be overstated, as it will have a profound impact on both layer one and layer two. The success of DePIN chains and projects hinges on the demand side of the equation, which is carefully examined in the second part of the report.

Unlike many other cryptocurrencies, the authors emphasize that DePIN revenues are fueled by utility rather than speculation. They highlight that participants in DePIN projects typically need to purchase and lock or burn their associated tokens in return for access to the decentralized service or product being provided. This characteristic aligns DePIN projects with traditional crypto coins, which are utilized for various purposes, such as payment of fees and staking.

According to the authors, DePIN projects consistently yield an estimated $15 million in yearly on-chain revenue throughout the bear market. Given the large number of DePIN projects, this amount may seem insignificant. The authors, however, need to offer a clear answer to which DePIN projects are the most profitable, leaving it open to speculation.

However, it is worth mentioning that Livepeer has developed a dashboard named the Web 3 Index, which monitors the earnings of major DePIN projects. Decentralized storage and computing are generating the highest revenue.


Source: The Messari Report.pdf

The authors highlight the evolution of DePIN projects, with many expanding their offerings to become comprehensive platforms providing a variety of decentralized products and services. They cite Filecoin, Helium, RNDR Network, and Bittensor as five notable examples of such platforms, demonstrating the diversification of DePIN projects beyond their initial scope.

DePIN Categories

Compute
In the next section, the authors divide the Compute category into its previously discussed main elements: Storage, Compute, and Retrieval. They mention that specific DePIN projects within the compute category, such as Filecoin and Akash Network, provide a “full stack experience.” 


Source: The Messari Report.pdf

In terms of Storage, it's suggested that DePIN could gain widespread acceptance by utilizing decentralized data storage. While other cryptocurrency projects and protocols have primarily adopted this technology, it's promising to see increased decentralization across the crypto space. This article provides an opportunity to delve deeper into the meaning of decentralization.

The authors highlight that Compute faces the opposite issue compared to storage. While there is an abundance of decentralized data storage but insufficient demand for it, the supply of decentralized computing power is lacking. Yet, there is a surplus of demand for it.

The authors note that decentralizing Retrieval poses a significant challenge, especially in maintaining competitiveness. This is primarily due to the fact that Cloudflare, a centralized retrieval protocol, currently serves 20% of all regular websites at no cost, making it challenging to monetize alternative solutions.

Wireless
This relates to the next DePIN category the authors detailed earlier: Wireless. The growth of the total addressable market for decentralized wireless services has been exponential, and it's no surprise why. The demand for decentralized wireless services is rising as the world becomes increasingly interconnected. This category of DePIN has even earned its own name – DeWi, short for decentralized wireless – highlighting its significance in the industry.

The authors also divide this category into three parts: mobile, fixed internet, and Wi-Fi. Helium, in particular, is gaining significant attention due to its rapid expansion and popularity. As an illustration, Helium has collaborated with T-Mobile to offer affordable mobile plans across the US.


Source: The Messari Report.pdf

Data Sales
The authors decided to examine a new category not initially included in their list but gaining significant interest: Data sales. They point out the importance of data in a world that is becoming more digital. 

That is why they are optimistic about DePIN initiatives such as Hivemapper, which motivates individuals to map their local surroundings, similar to Google Maps but without a central authority. They also highlight other specialized DePIN projects, such as one that monitors noise pollution in a community-driven manner.

This relates to another category detailed earlier: Services. According to their perspective, they classify services into two types: horizontal services, like decentralized marketplaces for freelance work, and vertical services, such as decentralized ride-sharing systems.

The conversation shifts to the emerging DePIN category of  Vertical Ads, but surprisingly, they don't offer much insight into it. Notably, they fail to mention the Brave browser in this context. The situation is similar regarding energy-related DePIN initiatives, as they are also in the early stages of development.

DePIN Growth, Potential 

The report now shifts its attention to the supply side of the equation, specifically examining the remarkable growth and potential of DePIN nodes. The authors begin by presenting an interesting fact: The number of DePIN nodes continues to grow and has now surpassed 600,000. The graph below illustrates that the Wi-Fi map nodes are the most numerous, with more than 200,000 nodes being a part of the DePIN project.


Source: The Messari Report.pdf

The authors note a rapid increase in the quantity of DePIN nodes. This growth is attributed to DePIN initiatives addressing scalability challenges related to the expansion of physical infrastructure. Consequently, DePIN offerings are becoming more affordable and of higher quality. It is worth noting that the development of this physical infrastructure is being encouraged through the distribution of crypto incentives, particularly tokens awarded to individuals contributing to such infrastructure.

The tokenomics of these tokens are integral to the supply-side equation, and the authors recognize three distinct strategies. First, supply-based tokenomics encourages growth. Second, demand-based tokenomics promotes efficiency. Lastly, a combination of supply- and demand-based tokenomics strikes a balance between development and efficiency.

The advantages and disadvantages of the three methods are outlined in the image below. The authors also observe that certain strategies have been more effective for specific DePIN projects. For example, they note that projects that require a lot of hardware benefit the most from supply-based tokenomics, as it essentially rewards contributors with a large number of tokens. On the other hand, DePIN projects that are primarily software-based can expand by offering points that may eventually be converted into tokens.


Source: The Messari Report.pdf

In assessing the value of various DePIN projects, the authors recommend focusing on both the market cap and the fully diluted valuation. Their rationale is that DePIN projects often involve significant investments from venture capitalists, which can influence price movements. 

Essentially, the authors suggest that the demand for specific DePIN offerings may be tempered by the influx of tokens from initial project backers. They imply that lower-quality DePIN projects may encounter challenges and predict that many early investors will opt to sell once their portfolios have appreciated five to tenfold.

Before making any investment decisions, it's crucial to thoroughly investigate cryptocurrencies, especially those in emerging sectors like DePIN. While some experts recommend investing in blockchains that support DePIN projects to mitigate risk, this approach may not yield returns as substantial as identifying and investing in promising DePIN projects early on, with their potential for 100x growth.


Source: The Messari Report.pdf

DePIN 2024 Forecast 

The section of Messari's DePIN report that garnered the most excitement is the predictions for DePIN in 2024. According to the authors, the first theme you need to watch out for is the intersection of DePIN and AI, which is expected to play a crucial role in DePIN's development. DePIN AI has the potential to surpass centralized AI in terms of capabilities and effectiveness within the next one to two years.

The second important topic is the intersection between DePIN and meme coins. While the idea may seem odd, the authors acknowledge this and use the Solana phone Bonk airdrop as an example to show how these two can be paired. This also hints at a future where physical infrastructure is encouraged through the use of meme coins.

The third important aspect to be mindful of is the intersection of DePIN with zero-knowledge technology. By leveraging advanced zero-knowledge technology, DePIN could carry out a form of cyber attack known as a vampire attack on Web 2, which involves taking control of users' content and activity.

The fourth theme to watch is similar to the third but focuses on the intersection between DePIN and gaming. Think of it as GameFi on steroids, where the cryptocurrency elements of gaming are integrated with cutting-edge gaming technology, such as VR headsets, to create a more immersive and interactive experience.

The fifth theme to be mindful of is the intersection between DePIN and privacy, with a particular focus on decentralized virtual private networks (VPNs) as a critical intersection area.

The authors highlight a curious trend in DePIN: The intersection between DePIN and Asia, referring to the continent, is expected to yield unexpected results. They foresee multiple top 10 DePIN projects emerging from this region, with most still in the nascent stages of development.

What It Means For Crypto

The DePIN report's findings have significant implications for the cryptocurrency market. In essence, they suggest that the most successful cryptocurrency narratives and niches during the current bull market will be those that are not financially focused. A previous article on crypto narratives supports this and is reinforced by the fact that some DePIN projects have already acknowledged this trend.

Several crypto initiatives acknowledge that applications related to finance will face increased scrutiny. In contrast, DePIN presents a significantly lower likelihood of antagonizing regulators, and its credibility is evident. The increasing presence of DePIN projects on global app stores and their partnerships with established companies and brands demonstrate that it operates within a safer realm, particularly in regulatory compliance.

Given its immense potential and the nascent stage of most DePIN projects, the DePIN niche is expected to be highly unpredictable from an investment standpoint. While some tokens may experience astronomical growth, others will likely plummet in value or become worthless. Despite the risks, the long-term outlook for DePIN indicates that it will have a lasting impact on the cryptocurrency landscape, contributing to increased adoption and mainstream acceptance.

Previously, the main factors driving cryptocurrency demand were primarily based on speculation. However, real-world adoption may occur with the rise of DePin and other non-financial sectors. This shift could make everyday individuals feel more at ease using and putting money into cryptocurrency, consequently boosting further adoption and investment. Advocates believe that the ultimate goal of cryptocurrency is to decentralize all aspects of life. If that is the desired outcome, we are on the right path.

The reaction of centralized equivalents to the decentralized alternatives of popular products and services is a topic of much speculation. Some anticipate a similar response to DeFi and other disruptors of the traditional financial system, characterized by intense regulatory opposition, mainstream media-fueled FUD, and attempts to suppress their growth. However, DePIN networks have an inherent advantage that will make them more resistant to suppression, as they are generally more decentralized than most cryptocurrencies. This resilience will demonstrate the staying power of crypto.

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Tim Moseley

Pundit Declares Bitcoin’s Trillion-Dollar Crown Is Here To Stay Amid Deepening Market Rout

Pundit Declares Bitcoin’s Trillion-Dollar Crown Is Here To Stay Amid Deepening Market Rout

By Brenda Ngari – April 16, 2024

The price of Bitcoin tumbled below $63,000 during Tuesday’s market bloodbath as momentum slowed in the run-up to the network’s much-awaited miners’ rewards halving event.

With the halving now only three days away, BTC plummeted to a low of $61,714 today amid geopolitical instability in the Middle East. The flagship crypto endured a 3.9% decline over the last 24 hours to trade for $62,851 at press time. Bitcoin’s market cap stood at $1.2 trillion at publication.

All of the top 20 crypto assets by market value, excluding stablecoins, have also taken a nosedive, with the likes of Solana (SOL), Telegram-linked Toncoin (TON), and Avalanche (AVAX) slipping by double digits in the past day.

CoinGlass data shows that over the past 24 hours, some $253 million of long positions—traders who bet that prices would rise—were wiped out across the entire crypto market. Of this total, Bitcoin accounts for roughly $81.70 million in longs liquidated during that period.

Willy Woo’s Perspective On Bitcoin’s Future

Statistician Willy Woo suggested that BTC’s latest drawdown towards the $60,000 mark flushed out leveraged longs.

Woo told his 1.1 million followers on the X platform that he doesn’t expect Bitcoin to slump in a straight line as he’s convinced BTC bulls will defend the “formidable” short-term holder (STH) at $59,000. In the expert’s opinion, there is a high chance that the crypto will rebound strongly and liquidate traders who shorted at around $70K-$75K.

The Bitcoin analyst also pointed out that the ongoing consolidation around the current record highs will strengthen the support level for the alpha crypto. Woo indicates that the accumulation between the $60,000 and $70,000 range is forming a base of buyers that will secure BTC’s status as a trillion-dollar asset.

“Remember: the longer BTC consolidates around ATH, the more coins that change hands between investors cementing its price discovery. This creates formidable long-term support once we break it. Bitcoin as a trillion-dollar asset class is here to stay. This is a good thing.”

Bitcoin To $650,000?

Many industry watchers say the outlook is still bright, thanks to the imminent halving — a pre-programmed event that reduces miner rewards by half every four years — and the possibility of interest-rate reductions.

Woo further posited that the shiny new spot BTC ETFs bring Bitcoin price targets of $91,000 at the bear market bottom and $650,000 at the bull market top. This could materialize once ETF investors have exhaustively deployed capital as per asset manager recommendations. According to Woo, these are actually conservative figures as he believes Bitcoin will undoubtedly surpass gold’s capitalization by the time the ETFs finish their role.

Although excitement persists for such lofty price predictions, Woo warned that these targets are not feasible this cycle because capital deployments take quite some time to complete.

Bitcoin is now 15.8% away from its record high of $73,737 set on March 14.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Revolutionizing Online Networking: Welcome to Markethive

Revolutionizing Online Networking: Welcome to Markethive !

In the digital communication world, Markethive wants to change how we connect, market, and do business online. It’s becoming a strong market network with the added power of blockchain, providing various free inbound marketing tools.

Markethive’s vision extends beyond traditional marketing platforms, as it provides a decentralized ecosystem that empowers individuals and businesses to connect, collaborate, and prosper in the digital era. Through the innovative integration of blockchain technology, Markethive introduces transparent and secure transactions, fostering trust and efficiency within its network.

"Elevate Your Digital Presence - Markethive.com, Your All-in-One Marketing Hub!"

Markethive offers a variety of inbound marketing tools at no cost, with a focus on empowering entrepreneurs and marketers worldwide. These tools include lead generation, social media broadcasting, content publishing, and campaign management, providing users with essential resources for success in the online business landscape.

As Markethive continues to grow, its steadfast dedication to nurturing a supportive and vibrant community propels it beyond the realm of just a marketing platform. By promoting teamwork and inclusiveness, Markethive leads the way in a new era of digital marketing, where the focus on creativity and collective success assumes a prominent role.

THE INBOUND MARKETING POWERHOUSE !

Markethive is a complete platform that provides various tools necessary for modern digital marketing. It includes blogging, email marketing, automation, social media monitoring, and analytics, offering users a comprehensive solution for their marketing needs. Additionally, the platform has features like landing pages and a content management system, making it a versatile choice for businesses and individuals looking to build and grow their online presence.

FROM VERITECH TO MARKETHIVE: A COLLABORATIVE EVOLUTION

Markethive has an interesting origin, stemming from Veritech and evolving from automated marketing to inbound marketing. This platform emphasizes a collaborative approach among its members, which sets it apart from other similar platforms. Notably, Markethive offers an intuitive user experience coupled with advanced tools, making it a comprehensive solution for those looking to enhance their marketing strategies. This dedication to user experience and innovation is what makes Markethive a standout option in the marketing industry.

GETTING REWARDED THE MARKETHIVE WAY

Users are rewarded for engagement and contributions, with the integration of various commerce platforms and blockchain technology ensuring transparency and privacy.

The integration of various commerce platforms and blockchain technology serves as a cornerstone for ensuring transparency and privacy in the ecosystem. leveraging the power of blockchain, users can be assured that their transactions and engagements are secure and immutable. Furthermore, the utilization of blockchain technology enables the creation of a decentralized environment, fostering trust and accountability. This innovative approach not only incentivizes user engagement but also promotes a sense of community and integrity within the platform. As users actively contribute and engage, they are duly rewarded, creating a virtuous cycle of participation and value creation.

YOUR DATA, YOUR RIGHTS

At Markethive, users have total control of their data, as activities are decentralized and encrypted, ensuring privacy and sovereignty. Shadow banning and getting banned are impossible

In the ecosystem of Markethive, individuals possess complete authority over their data and activities. The decentralized and encrypted nature of the platform guarantees the preservation of privacy and sovereignty. Moreover, the architecture is designed in such a way that shadow banning and being banned are rendered impossible, allowing users to engage without the fear of such restrictions.

In the ecosystem of Markethive

AN ECOSYSTEM FOR ENTREPRENEURS

Markethive is a comprehensive platform that provides a diverse range of services to its users. One of its key features is the provision of public profile pages, allowing individuals to showcase their professional and personal information in a centralized and accessible manner. This enables users to create a strong online presence and effectively network with others within the platform.

In addition to public profiles, Markethive also provides newsfeeds. Users can stay updated on the latest industry news, trends, and insights. This feature fosters a sense of community and ensures that users are well-informed to excel in their fields.

Furthermore, the inclusion of a blogging platform within Markethive enhances its utility by allowing individuals to share their thoughts, experiences, and expertise with a wider audience. This not only facilitates knowledge sharing but also contributes to the overall value and richness of the platform’s content.

Moreover, the availability of video channels adds another dimension to Markethives offerings, enabling users to engage with visual content and harness the power of multimedia for communication and knowledge dissemination.

Markethive is deeply committed to helping individuals attain financial success and expand their knowledge. The company’s dedication is evident in its innovative tools and resources, which aim to empower users on their entrepreneurial journey. Through a platform that encourages learning and collaboration, Markethive leads the way in creating an environment where individuals can thrive and reach their objectives. Continuously adapting to the evolving digital entrepreneurship landscape, Markethive stands as a steadfast partner for those looking to improve their financial prospects and broaden their knowledge base.

Education, Earning, and Growth

The importance of education is huge, especially in Markethive. It’s the key to unlocking many opportunities and helps with growth and success. At Markethive, there’s a strong focus on rewarding learning, showing a real commitment to its users’ development. By investing in the knowledge and skills of its community, Markethive sets the stage for people to thrive. This not only benefits the users but also boosts the platform’s overall growth and dynamism. So, making education a central part of progress sets a strong example in the Markethive community.

A LEAP INTO THE BLOCKCHAIN

The adoption of blockchain technology ensures a secure and transparent system by leveraging its decentralized nature and cryptographic principles. With blockchain, users can have confidence in the integrity of transactions and data, thanks to its immutable and distributed ledger. This peer-to-peer network eliminates the need for intermediaries, leading to faster and more cost-effective processes.

Moreover, the exclusive banner program not only provides effective advertising but also serves as a powerful tool for brand promotion. By showcasing banners in strategic locations, businesses can capture the attention of their target audience and convey their brand message effectively. This form of promotion can significantly impact brand recognition and market visibility, ultimately driving customer engagement and loyalty.

ecosystem for entrepreneurs

In conclusion, the combination of blockchain technology and the exclusive banner program offers a robust foundation for businesses to ensure security, promote their brand, and reach their target audience in an impactful manner.

Markethive is designed for the new generation of business owners. It’s about providing people with free access, keeping their privacy safe, and helping them thrive. Members can use advanced tools to expand their businesses. The platform is committed to assisting business owners by offering them free access to marketing tools, education, and a supportive community while safeguarding their privacy. Markethive aims to help mold the future of business by offering the resources and assistance necessary for success in the digital era.

Tim Moseley

Gold price action driven by conflicting cyclical and structural forces traditional metrics aren’t working – Analysts

Gold price action driven by conflicting cyclical and structural forces, traditional metrics aren’t working – Analysts

As gold prices continue to hit record highs, experts at leading banks are updating their forecasts for the precious metal even as they try to determine where the price action is likely to head.

Francisco Blanch, Head of Commodities and Derivatives Research at Bank of America Securities, told Yahoo Finance that the gold market is caught in a daily tug-of-war between powerful cyclical and structural forces.

“We've seen tremendous gold buying on the back of central banks, and more recently there's been retail gold buying in China, but I think we have to distinguish the kind of temporary cyclical rate factors driving gold here from what's more structural,” Blanch said. “In the case of gold, I think there's a really big structural trend towards more gold purchases driven by the major geopolitical fracture that we have in the world today between the U.S. and Europe on one side, and Russia China on the other. It's really been central banks not trusting central banks that has been behind the buy-the-dip mentality in the gold market.”

Blanch said that this central bank-driven gold rally has made investors “maybe a little bit too excited,” and some of those longs are being liquidated following Wednesday’s higher-than-expected CPI report. “That's the story, inflation print hotter than expected, makes the Fed less likely to cut in June,” he said. “Why own gold? At this stage there are better alternatives for building higher returns. That's the battle that we are seeing every day.”

Blanch reiterated that Bank of America still expects three rate cuts in 2024, but gold prices could tumble if the Fed doesn’t deliver. “We are still calling for a rate cut in June, and two more in the second half of the year, so based on that, we think prices continue to go higher, but there is definitely a challenge for the gold market If the Fed doesn't cut rates this year, or as some people have claimed, if the Fed hikes rates.”

“I think it'll be pretty bad for the gold market and pretty bad for gold positioning.”

Blanch said shifting interest rate expectations are also impacting currencies, which are affecting gold prices in turn. “It's not just gold, it's also the fact that higher inflation in the U.S. leads to persistently higher interest rates, persistently higher, stronger dollar and therefore makes assets like gold less valuable,” he said. “There's a risk on that gold trade, and the risk is the Fed doesn't cut, or potentially hikes.”

He added that if things do get to the point where the Fed hikes rates further, he still expects central bank buying to prevent the gold price from collapsing. “I would expect central banks to come in and eventually put a floor on the market,” Blanch said. “Central banks are not going to be chasing the gold market higher, they're going to be buying on dips.”

HSBC Chief Commodities Analyst James Steel told Bloomberg Radio that the gold market's latest surge is being driven by geopolitical risks, as well as national and regional economic factors affecting the broader market.

“It's a default play,” Steel said. “In the case of China, specifically, the property market's been very weak, the equity markets have been very weak, and this narrows the universe that investors big and small are likely to look for. Gold is a great safe haven.”

Steel said that gold is also seeing interest in other countries, but the drivers are different. “Now we're seeing the same thing abroad, but the equity and property markets haven't fallen abroad,” he said. “In the case of Western markets, I think what we've seen is asset managers, portfolio managers and the like have recognized that equities are very high. They have no choice in many cases but to be in equity markets, but they have a choice how they hedge that exposure, and they've chosen gold.”

Asked how investors can properly value gold at these levels, and judge if and when it’s overvalued, Steel acknowledged that the traditional metrics are less useful than ever.

“I think that's a universal problem,” Steel said. “Cost of production won't help you at all because the market is well above the average, all-in sustaining costs of production, or any measure that you want to look at, with maybe except for one or two gold mines in the whole world.”

Steel said the traditional barometers that indicate when to buy or sell gold are also not working very well. “For example, we were looking for 150, 160 basis points [in Fed cuts]. When I say we, I mean Wall Street, in January,” he said. “That's contracted to below 75 basis points of cuts. That would normally have led you to think that gold would recalibrate lower between January and now, but the opposite has happened. Real rates are positive, that should be providing headwinds, and the dollar has been reasonably firm. None of those things seem to be making a huge impact.”

Steel emphasized that he believes the geopolitical elements are having a very strong effect on the gold market. “We've seen a lot of geopolitically-led safe-haven buying coming in, and there's academic studies to show that gold hedges well against geopolitical risk as well as it does against financial market risk.”

“Right now we are in a bit of a no-man's-land here, where the traditional issues would not provide you with the guidance that you would normally think,” he said. “Now, over time, physical demand outside of China is suffering. It was down last year in India. A ten-gram bar in India is now ₹71,000, double what it was just a few years ago. Jewelry demand is declining. Most people that want to buy coins have already done so. And I would suspect that if we get an equities correction, and I'm not saying that we will, that's well outside my pay grade, but that itself could bring an end to some of the safe-haven portfolio buying that's coming into gold.”

Gold prices are breaking out once again on Thursday afternoon, with spot gold setting a new all-time high of $2,371.13 per ounce at the time of writing.

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

ECB-Fed divergence and political upheaval could roil currencies and boost gold analysts warn

ECB-Fed divergence and political upheaval could roil currencies and boost gold, analysts warn

The European Central Bank (ECB) will issue its interest rate decision on Thursday morning, and while markets are not predicting any change to the rate at the April meeting, expectations are ramping up for them to kick off the cutting cycle soon.

But across the pond in the United States, a stronger-than-expected economy coupled with higher-than-expected inflation readings are pushing the prospect of rate cuts from the Federal Reserve further into the future.

Could the world’s two most influential central banks be on the verge of a divergence in interest rate policy? And if so, what are the implications for the euro, the dollar, and gold?

Marc Chandler, Managing Director at Bannockburn Global Forex, said that after last week’s softer-than-expected Eurozone CPI data, market participants see only a 10% chance of a rate cut at Thursday’s ECB meeting, but they now feel fairly confident of a June rate cut. “It's nearly fully discounted for June,” he said.

By contrast, Chandler said things appear to be moving in the opposite direction in the United States. “The futures market has not only moved away from the June Fed cut, which is around 50 percent or so now, but they've also downgraded the chances of a July cut,” he said. “For the first time since October last year, the market's not pricing in at least 25 basis points by July.”

Adam Button, Head of Currency Strategy at Forexlive.com, believes the ECB and the Fed are in very different positions, as the former faces political pressures and a popular reckoning in the near term.

“It's that generational aversion to inflation, and I think it's that political anger too,” Button said. “We have it everywhere in the world, the political anger about inflation, and you don't want that to be redirected at you if you're the central bank. This is their job.”

“I think the ECB is likely to embark on a consistent rate-cutting cycle, where the Fed may just dip in its toes.”

Chandler said that in the near term, he wouldn’t characterize the ECB starting its easing as a divergence from the Fed, but more of a head start down the same path. “I don't know how much of it is divergence and how much of it is just sequencing,” he said, noting that FOMC members including Powell and the Fed’s latest dot plots all point to multiple rate cuts at some point this year. “We're talking about sequentially, that the ECB might cut rates say, one or two months before the Fed.”

Chandler said he believes this is one of the factors that has weighed on the euro against the U.S. dollar, though it has shown resilience. “The euro last month, as this was beginning to be discounted, held the February low, which is around 107,” he pointed out.

European, U.S. growth closer than appearances

But Chandler said he doesn’t think the United States’ stronger economic performance is really a case of U.S. exceptionalism. “I think that the stronger growth in the U.S. can be accounted for by a budget deficit that's roughly twice the level of the Eurozone,” he said. “And I think that Europe has also been hit still with the disruption of Russia's invasion of Ukraine, and that has kept the energy prices in Europe higher than they are in the U.S. What we're seeing is the manufacturing sector in the Eurozone, especially in France and Germany, is still under pressure. The periphery, like Spain and Italy, ironically, are doing better.”

Button also sees much of the United States’ purported growth as a mirage. “They're running huge deficits,” he said. “That’s the big difference between Europe and the U.S. Europe isn't spending right now, the budget rules are pretty strict there, and the U.S. is spending massively. That might explain maybe half the difference in growth between Europe and the U.S.”

Chandler said that rising salaries in the United States, which are a problem in terms of inflation, are also a boon for growth data. “In the U.S., we've seen real wage increases, wages growing faster than inflation,” he said. “And that helps the consumer sector, which, as we know from recent data, including the Q4 data, continues to be a bright spot for the U.S. economy.”

Chandler pointed out that Fed Chair Jerome Powell frequently asserts that they need to see better inflation data to be more confident before cutting rates, and recent data is having the opposite effect. “The Fed says ‘we're data dependent,’ and the market takes a look at data and says, ‘Okay, it's going to take you a little bit longer to cut rates.’”

“Part of the problem is that the market's been talking about recessions for a couple of years now, and with the resilience of the U. S. economy, I think it's finally hitting them,” he said. “But to me, this is a contrarian indicator. Many economists have been talking about a recession for a couple of years, we don't get it, and now that the market capitulates and says, ‘Well, maybe the Fed's not going to have to cut rates as much as they thought,’ I think that's when the economy begins weakening.”

Chandler said that he expects Q1 growth to remain strong and noted that the Atlanta Fed GDP tracker is predicting a healthy 2. 8%, but that the coming months will bring the anticipated downturn on the back of “the accumulation of the financial tightening, the higher interest rates, the slowdown in credit extension, some deterioration below the surface in the full-time jobs group, for example.”

“What it really is, is a question of timing,” Chandler said. “Timing these things is very difficult, but getting the general direction, getting the pattern… I think the market once again postpones the downturn to the second half of the year.”
 

“One of the incredible things about the market is it’s an anticipatory mechanism,” he added. “Part of the reason why the euro is still under pressure is that the market's pricing exactly that scenario in.”

Button said the central banks’ policies could still look similar in the near term, but things are set to change in the coming years. “Say the Fed cuts 50 or 75 and ECB maybe about that,” he said. “It's in 2025 when the ECB will have that latitude to keep on cutting rates and the Fed might not. I think that's when you see that divergence open up. 2026 is when the U.S. really starts to stumble because that's when the IRA [Inflation Reduction Act] and the [CHIPS and Science Act] run out.”

But in the near term, if the ECB eases before the Fed, it could have real implications for their respective currencies, and for gold.

Chandler said that while much of the euro’s expected weakening in this scenario is priced in, there’s still a late move from the broader public. “There's a difference between institutional and retail investors,” he said. “I think oftentimes retail investors have other things on their plate, they're working, they've got family, and they wait for the news to come out. The news says ‘ECB cut rates, the Fed is not going to.’ And then they might decide to sell the euro. Meanwhile, institutional investors are anticipating these things. They're looking at the same things we are, like the swaps market, the futures market.”

Chandler said this can be clearly seen in the difference between the two-year yields on both sides of the pond. “The U.S. premium fell to about 165 basis points over Germany back in January, now it's at 190 basis points,” he said. “I think that's what's weighing on the euro.”

“What happens then is, say we get to June, the ECB cuts, the Fed doesn't and some traders, especially retail investors, say ‘oh, this is a policy divergence’ and they sell the euro. Meanwhile, the institutional investors which are already short the euro, buy it back because they think, now that the ECB has cut, what's the next move? The next move is going to be the Fed cut.”

Will Europeans get into gold?

Button also believes that the euro will come under pressure in the near term. “The question is whether Europeans turn to gold as a store of value,” he said. “At the margins, I think that could happen. This year, gold looks great in euros, and it's certainly not loved right now, so there is room for money to flow into gold there. But then you can also argue that if the dollar strengthens, a strong dollar isn't always great for gold.”

Still, he expects that if the broader European public finds itself “gripped by the feeling of a falling currency,” this would be “a natural driver” for gold. “I assume that 90, 95 percent of those real money flows go into other currencies, but that five percent is significant in a market like gold,” Button said. “Right now, gold is positioning itself as strong and I think that has a long way to run. The more good days that gold has, it's a snowball running downhill.”

“In all markets right now, the winners keep on winning and we’re in the most liquid time in history, the easiest time to trade in history,” he added. “So long as gold continues to rise, the money will find its way into gold. When Europe weakens, people look at gold. Maybe it's hard to buy the all-time highs. But since we broke out about $2100, what's the biggest dip? 30, 40 dollars? I think that's the best you're going to get.”

For his part, Chandler doesn’t see much chance of European investors piling into gold the way many Asian investors have, because the dynamics are very different.

“I was just looking at European bank shares, and they're doing great,” he said. “Japanese banks have done fairly well too, especially now that [the Bank of Japan] has raised interest rates. I think that for the same reasons that Americans don't own a lot of gold, I don't really expect Europe to buy a lot of gold.”

“I'm not sure that a rate cut from the ECB is a key catalyst,” he added. “I think that gold might rally, but I think gold's already rallying.”

Looking further out, Button does expect U.S. investors to pile into gold eventually, but when they do, it will be more of a greed trade than a fear trade.

“That's the exorbitant privilege of the U.S. dollar, is that Americans don't think about moving money into euros,” he said. “The Europeans do fret about the euro and fret about currencies. They have a long memory of domestic currency weakness, so they look for alternatives in the FX and the gold space, maybe crypto, when that weakness starts, whereas Americans are more inclined to look to gold.”

“When the dollar does eventually turn, Americans are buying.”

Button said that what needs to happen in the United States is for gold to capture the imagination of investors. “Once a market grabs the attention of the investing community right now, the moves can be phenomenal,” he said. “In a way, gold has already made an incredible move, but it hasn't quite got the attention yet. If gold and precious metals can recapture investor imagination like they did in the early 2000s, then you can't overstate the upside.”

“There's so much more money in capital markets than there was 15 years ago when that big gold bull market happened,” Button added. “Layer on leverage and options, and I think there's an opportunity to dream big. I don't know if it's the Fed cutting that kicks that off, or Asia, but I think price is the only thing that really matters and there's no need to risk overthinking it.”

Button pointed out that the environment of the past year has been terrible for gold, with high rates, every other market doing well, and crypto taking off. “And yet gold is at record highs,” he said. “I look at gold as a market that's taken the fundamentals’ worst punch.”

Continental shift could shake markets

Chandler said that the other major driver behind a potential divergence between the United States and Europe is the tectonic shift in the latter’s political landscape, which creates risks for currencies and commodities like gold. “There are European parliamentary elections in June,” he said. “And these polls show the current leadership in France and Germany with very low levels of support, which warns of a shift to the right.”

Button agreed that politics is the wild card on the continent, and it’s likely to impact markets in unforeseen ways. “Political changes is coming, and that could be the trigger for some kind of fear, uncertainty trade,” he said. “There was a brief period around COVID where the ideological cohesion in Europe was unprecedented. That fragmented quickly, and it will continue to fragment, I'm sure of it.”

“That is probably your best case for gold buying in Europe, and it's a pretty strong one,” Button said. “That's where I’d be watching, because I don't know if there's an incumbent party in Europe that's safe right now.”

“It won't surprise me to see further gains in gold,” said Chandler. “I'm not sure that the Chinese situation changes very much. I'm not sure the Turkish situation changes very much. For me, it's a really a story of what's going to change those forces. And I don't I don't see that on the horizon.”

Kitco Media

Ernest Hoffman

Time to Buy Gold and Silver

Tim Moseley

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https://rtateblogspot.com/2024/03/20/embarking-on-a-journey-of-self-discovery-exploring-the-factors-that-shape-your-path/

Tim Moseley

Bitcoin Primed For Multi-Billion-Dollar Boost With Hong Kong Greenlighting Spot BTC ETFs Next Week

Bitcoin Primed For Multi-Billion-Dollar Boost With Hong Kong Greenlighting Spot BTC ETFs Next Week

By Brenda Ngari – April 10, 2024

According to people familiar with the matter, regulators in Hong Kong are set to give the nod to a roster of applications for spot Bitcoin exchange-traded funds (ETF) as early as next week. This means the ETFs investing directly in Bitcoin could begin trading in April.

The expected approval of Hong Kong-based spot Bitcoin ETFs would take place approximately three months after the Securities and Exchange Commission approved the first cluster in the US.

As traditional institutional and retail investors in Hong Kong gain access to Bitcoin, the investment landscape stands on the cusp of a substantial shift.

Hong Kong Expedites Bitcoin ETF Approvals

Hong Kong is all set to become Asia’s first city to offer Bitcoin ETFs.

Sources familiar with the matter have told Reuters that Hong Kong’s Securities and Futures Commission (SFC) could greenlight its first set of spot Bitcoin (BTC) exchange-traded fund applications by April 15.

Harvest Hong Kong, Hong Kong units of China Asset Management, Harvest Fund Management, and Bosera Asset Management have already submitted applications for spot Bitcoin ETFs with the SFC.

As reported earlier by ZyCrypto, as many as 10 financial institutions have planned to apply to list BTC ETFs in Hong Kong. Reuters revealed that Hong Kong regulators have fast-tracked the approval process, making it likely for the funds to start trading this month.

Notably, Hong Kong regulators have been attempting to loosen their approach to crypto in recent months in an attempt to become a global hub for the sector.

A Game-Changer

Meanwhile, spot Bitcoin ETFs from Wall Street titans like BlackRock and Fidelity began trading on US exchanges in mid-January. They have accumulated roughly $58 billion in assets since then, despite constant outflows from Grayscale’s GBTC. The demand for these products propelled the largest cryptocurrency by market cap to a historic $73,737 last month.

The Asian crypto market is arguably much larger than the U.S. crypto market in terms of volume. This means that launching ETFs in Hong Kong could attract a significant amount of money into the funds.

The greenlighting process in Hong Kong is expected to follow a trend similar to that of the U.S., where the SEC approved multiple BTC ETFs simultaneously.

That being said, spot Bitcoin ETF approvals in Hong Kong are likely to encourage more investors and financial institutions to consider the benchmark crypto as a viable investment option.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Gold silver firmer as bull-market runs remain strong

Gold, silver firmer as bull-market runs remain strong

Gold prices are higher and hit another record high overnight, with June Comex gold reaching $2,384.50. Silver prices are slightly up and hit a nearly three-year high overnight, at $28.44 basis May Comex futures. More and more traders of all markets are climbing aboard the bullish gold and silver train, suggesting still more upside price potential in the near term. Save-haven buying remains a feature in both metals. June gold was last up $12.80 at $2,363.90. May silver was last up $0.073 at $27.875. Gold is presently outperforming the S&P 500 so far this year.

U.S. stock indexes are weaker near midday. It’s a quieter U.S. data day again Tuesday but the pace picks up Wednesday. The releases of the March consumer price index and the minutes of the last FOMC meeting will come at mid-week. The March CPI is seen coming in at up 3.4%, year-on-year. The core CPI, excluding food and energy, is seen at up 3.7% annually. Thursday comes the U.S. March producer price index and the European Central Bank monetary policy meeting.

The key outside markets today see the U.S. dollar index slightly lower. Nymex crude oil prices are weaker and trading around $85.75 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently fetching around 4.25%.

Technically, June gold futures bulls have the strong overall near-term technical advantage. A seven-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $2,400.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,250.00. First resistance is seen at today’s contract high of $2,384.50 and then at $2,400.00. First support is seen at today’s low of $2,355.70 and then at this week’s low of $2,321.70. Wyckoff's Market Rating: 9.0.

May silver futures prices hit nearly three-year high today. The silver bulls have the solid overall near-term technical advantage. An accelerating seven-week-old price uptrend is in place on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $30.00. The next downside price objective for the bears is closing prices below solid support at $26.40. First resistance is seen at today’s high of $28.44 and then at $29.00. Next support is seen at today’s low of $27.725 and then at $27.50. Wyckoff's Market Rating: 8.0.

May N.Y. copper closed up 50 points at 428.10 cents today. Prices closed nearer the session low and hit a 14-month high early on today. The copper bulls have the solid overall near-term technical advantage. Prices are in a two-month-old uptrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical

resistance at 450.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 400.00 cents. First resistance is seen at today’s high of 433.35 cents and then at 437.50 cents. First support is seen at today’s low of 425.25 cents and then at 420.00 cents. Wyckoff's Market Rating: 8.0.

Kitco Media

Jim Wyckoff

Time to Buy Gold and Silver

Tim Moseley

Dogecoin Surpasses Ethereum XRP Solana As The Most Traded Coin After Bitcoin

Dogecoin Surpasses Ethereum, XRP, Solana As The Most Traded Coin After Bitcoin

By Brenda Ngari – April 9, 2024

In a noteworthy development for the cryptocurrency industry, the top meme coin Dogecoin (DOGE), has become the most traded altcoin on South Korea’s largest exchange, Upbit.

DOGE Draws Major Attention In South Korea

Dogecoin has claimed the title of the second most traded crypto on the popular South Korean exchange Upbit, in a clear display of the token’s skyrocketing popularity and appeal in global markets. DOGE has noticeably eclipsed other prominent cryptos like ether (ETH), Ripple’s XRP, and Solana (SOL) in terms of trading volume. This development is quite notable for the canine-themed cryptocurrency, which has registered a strong rally in recent months.

In cryptocurrency circles, South Korean traders are notorious for driving euphoric rallies on coins. Furthermore, the Asian country has emerged as one of the largest markets for crypto with a young, tech-friendly population. With its vibrant support for cryptocurrencies, Korea’s market serves as a yardstick for trends and changes in the global trading sentiment.

Dogecoin’s growth from a mere joke to a significant contender in the cryptosphere has been nothing short of remarkable. The prominent doggy-themed crypto seems well-positioned for tremendous growth within this rapidly evolving market.

Dogecoin is currently priced at $0.19, down 6% on the day amid a crypto market downturn, per data from CoinGecko. The crypto remains a far cry from its all-time high price of $0.73, posted in May 2021 at the height of the crypto bull market.

Bitcoin Dominates Upbit

Notably, Bitcoin, the largest token by market cap, remains the most traded crypto on Upbit. BTC has been on a steady uptrend since the beginning of 2024 amid anticipation and the subsequent approval of nearly a dozen US-based spot Bitcoin ETFs. Last month, the leading crypto rocketed to a new all-time high above $73K as the ETFs saw record inflows and trading volumes.

Although Bitcoin remains the world’s most popular and internationally accepted crypto, Dogecoin’s growing reputation on Upbit was quite unusual. Given DOGE’s rapid growth, it wouldn’t come as a surprise to see the top-ranking meme coin top Bitcoin on Upbit.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

The Artist that came out of the Winter