BTCs (Ordinals) priceBTCS

Altseason is about to start, and here is why: 👀💹 A month ago I publically called the bottom for Altcoins. Looking at the updated charts, it looks like I was right. But could this be just another relief rally that ultimately fails? Lets try to answer this question now 👇 1⃣ OTHERS daily chart: My idea on the Others chart (Alts outside top 10) has played out beautifully so far. We got the deviation below key support, retested the trendline a few more times before ultimately breaking it now. There were 10 failed attempts to break out, and now we finally got what we waited for. Now there is so much free real estate above and we can easily run it back up to march highs and further for our last leg of the bullrun. This doesn't mean it wil be up only on a straight line tho of course. I think another shakeout & a retest of the trendline is very likely before we can really take off. 2⃣ TOTAL3/BTC weekly chart: Also on this chart we got what I talked about a month ago, the big breakout. Remember that this is the weekly timeframe so we have been forming this bullish falling wedge pattern along with the huge bullish divergence on the RSI for basically the entire cycle. Due to BTCs strong performance we are also one step ahead of the Others chart so to say because we are already reteting the trendline right now. This should obviously hold and flip the trendline from resistance to support, otherwise it wouldn't look that great anymore. I have no reason to think it won't hold tho. 3⃣ BTC.D/OTHERS.D weekly chart: This is a chart im personally somewhat proud of as I haven't seen it before I posted it the first time. We can basically see that the last cycle and this cycle have played out in a very similar manner so far when it comes to who is dominating the market. I have no reason to expect that this would change now all of the sudden. I was suspecting that we had just formed the final right shoulder of this H&S pattern a month ago and that seems to be true. I expect further downgrind on this chart (bullish for Alts) until we break the trendline and enter euphoria stage for Alts. 4⃣ OTHERS.D weekly chart: This chart illustrates what the previous chart does in a simpler fashion. We can again see the same pattern last cycle and this cycle. First we get this "testpump" followed by a very sharp retrace that ends on the overall uptrend trendline before we get the real Altseason of the cycle. So naturally I called the bottom when we hit this trenline (and the other charts mentioned agreed). So now in the future we can see that this trendline has held strong and I expect it to hold and the Altcoin dominance to rise from here on. Even the RSI perfectly tapped the oversold region on both occations. ↪️ Summary: So lets make a TLDR: 🔹bottom is in for Alts 🔹last leg of bullrun start now 🔹Alts dominance to rise from here 🔹final shakeouts still very possible (49k max downside) I have no reason to believe that we are not entering the final stage of the bullmarket now. If we get this last big retrace, most will lose their mind and give up on their positions. Some will hold steady and get away from the charts to distract themselfs. But almost no one will buy. But exactly this "last shakeout" (if it should happen) will be the single highest R/R buying opportunity. So if you have anyting left, I suggest you to place your bets right there. Higher 🙌 -------------------------------------------------------------- Some other TA guys that have been pretty spot on lately that I suggest you follow: @Osemka8 | @phoenix_cr47 | | @ChifoiCristian | @MaxBecauseBTC | @i_am_jackis | @CryptoDona7 | @IamZeroIka | @themarcojo | @seth_fin | @HarisEbrat | @TomNifty | @rickus_trades | @CryptArchitect_ | @ParabolicPump | @MalepoCrypto | @CryptoElPres | @LongtermR -------------------------------------------------------------- Thanks for reading frens 🩶 All engagement much appreciated as always. mikro out ✌️

$BTCS Mt Gox Risks To Bitcoin Crash Plunges 75%: Arkham Bitcoin crash risk due to Mt Gox repayment has dropped nearly 75% after it distributed 109K BTC worth $6.6 billion, per Arkham Intelligence Mt Gox wallets now have less than 25% BTC. Bitcoin crash risks due to Mt Gox repayment now dropped to nearly 75%. Multiple factors suggest upcoming BTC price rally. Bitcoin crash risks due to Mt Gox repayment have now dropped to almost 75%, on-chain analytics platform Arkham Intelligence stated on Saturday. Institutional and retail investors offloaded Bitcoin holdings on fears of a huge market crash as Mt Gox Trustee started BTC repayment in July this year.

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$BTCS How Tether’s new UAE Dirham stablecoin fits into crypto adoptionTether, the largest stablecoin issuer, has announced a milestone move to launch another stablecoin pegged to UAE dirham. According to the firm’s report, the company is set to launch a new stablecoin in partnership with Phoenix Group and Green Investments. Tether through a press release shared through the official websites announced the milestone adding thatNotably, the entrance of Tether into UAE markets show the significance of the UAE crypto industry on the global stage. Recently, a court in UAE ruled that cryptocurrencies are legal tenders and can be used to pay salaries. Over the past few years, the UAE has become a crypto hub with an increased user base. Therefore, as Tether’s press release posits, Dirham pegged stablecoin will streamline international trade, and reduce transaction costs and remittances. Since 2022, the Crypto market in UAE has expanded after the establishment of the Virtual Asset Recovery Authority. Therefore, a favorable regulatory framework makes the UAE a suitable

$BTCS Stablecoin Market Expands: $2.21B Uptick in 8 Days Fueled by Tether's Growth Spurt The stablecoin market has been picking up speed lately, and between Aug. 9 and Aug. 18, 2024, it expanded by $2.21 billion. During this period, Tether’s supply ballooned by an additional 1.26 billion USDT. Stablecoin Boom: $2.21B Growth Driven by Tether and PYUSD Between Aug. 9 and Aug. 18, 2024, the stablecoin economy expanded by $2.21 billion, building on the $1.53 billion growth seen from Aug. 6 to Aug. 9. Tether (USDT) claimed a dominant 57.01% of that growth, adding 1.26 billion USDT to its supply over the eight-day span. With this boost, USDT’s $116.88 billion market cap now makes up 69.40% of the $168.42 billion stablecoin market. Over the last 30 days, USDT grew by 2.9%, while usd coin (USDC) saw a 3.3% increase. Meanwhile, Makerdao’s DAI slipped by 1%, and Ethena’s USDE dropped by 9.2% since July 19, struggling to maintain a $3 billion market cap. First Digital’s FDUSD, however, enjoyed a 17.2% rise in supply over the same period. Just two days ago, Bitcoin.com News highlighted how Paypal’s PYUSD overtook Tron’s USDD to become the sixth-largest dollar-pegged coin. At that time, PYUSD’s supply had grown by $140.9 million in just ten days, with most of it minted on Solana. As of Aug. 16, PYUSD’s market cap stood at $791.9 million, and by Aug. 18, it reached $828.86 million, marking a $36.96 million increase in just 48 hours. Since July 19, PYUSD’s supply has surged by 41.5%, while Tron’s USDD edged up by only 0.7%. Similarly, frax dollar (FRAX) and true usd (TUSD) has remained stagnant over the past month. Alchemix usd (ALUSD) saw a modest 1.1% rise this month, while Aave’s stablecoin GHO climbed by 19% since July 19. On the other hand, Paxos’ pax dollar (USDP) decreased by 6.5%, and gemini dollar (GUSD) fell by 6.9% over the 30-day period. Once again, as with the previous week, the primary drivers of growth have been increases in the supplies of USDT and PYUSD, while others like USDC and FDUSD experienced only slight upticks.