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Bitcoin Price Plummets 77% in Asian Session, Triggering $200 Million in Liquidations

Bitcoin Price Crashes 77% in Asian Session, Sets Off $200 Million in Liquidations 😱

Bitcoin took a sudden nosedive during the Asian session, dropping 7.74% and briefly touching the $40,400 mark. This unexpected drop led to the liquidation of nearly $200 million worth of positions, causing significant market volatility. With the upcoming US Consumer Price Index (CPI) and the Federal Reserve’s interest rate decision, high volatility is anticipated to continue.

Higher interest rates often have an adverse impact on the price of gold, as they increase the opportunity cost of holding the precious metal rather than investing in interest-bearing assets or depositing cash in a bank. Additionally, they generally strengthen the US Dollar, which in turn lowers the price of gold since it is denominated in dollars. It will be crucial to monitor the Fed’s interest rate decisions and their implications on the price of Bitcoin.

Bitcoin is currently trading around $42,289, hovering around the midpoint of its 77% crash during the bear market. This price level is pivotal and may trigger significant take-profit or sell orders, which could result in market-wide liquidations. Market participants should remain cautious as the struggle between bulls and bears intensifies. It is worth noting that a major correction in Bitcoin price is not expected until it reaches the 62% retracement level at $48,733. However, today’s movements could catch many overeager investors off-guard. The $50,000 psychological level may be a plausible area for market-wide profit-taking to occur.

Read the original article #Bitcoin #cryptocurrency #BitcoinPrice #marketvolatility

David Honor, from Chicago Talent Sourcebook (1985)

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Ethereum inflation highlights the necessary definition of this blockchain

Currently, one of the big debates in the Ethereum ecosystem is related to the unstoppable inflation of this cryptocurrency.

An issue that has attracted the attention of both specialists in the Ethereum ecosystem and outside of it. Let us remember that since its creation, the Ethereum network has had no limit on its issuance. This means that as many ETH ( ERC20 development ) can be created as the computers in charge of running its nodes can write.

Considering the 64-bit computing world we live in, it means that the theoretical issuance limit would be 10^(38), a number so large that you could easily describe with it all the money issuance of the crypto and traditional financial system and still have room for more. The fact that Ethereum’s inflation is in practice “almost infinite” has led to the search for solutions to avoid the undesirable effects of this situation: the continuous devaluation of Ether, the platform’s native token.

It should be remembered that the supply of Ethereum currently exceeds 120 million ETH. The future perspective, after the elimination of EIP-1559 and other measures for the evolution and development of Ethereum 2.0, could trigger the issuance of Ethereum in the long term.

Solving inflation in Ethereum

Although Vitalik Buterin and his team have tried to find solutions to this problem, the reality is that the measures taken have proven insufficient. For example, on August 5, 2021, when Ethereum was still working under the Proof of Work scheme, a controversial improvement was activated: EIP -1559 . This improvement sought to solve some of the serious tokenomics problems that Ethereum was facing then:

First, stabilize transaction fees. Episodes of high volatility made it too expensive to use this network. At that time, many Ethereum DeFi users were forced to pay fees of up to $500 to make a trade. Most of the time they were basic token withdrawal operations from DeFi pools.

On the other hand, EIP-1559 sought to solve the problem of transaction delays, which caused price fluctuations. This was reflected in operations that took hours to be confirmed or that failed outright.

Finally, resolve the inefficiencies of price auctions by confirming operations within the chain. This last situation also impacts security, since Ethereum has a block confirmation model that allows so-called “Uncle Blocks.” Uncle Blocks are sister blocks of those blocks that are part of the main chain. Basically, they are valid blocks that are issued at the time of confirmation of a block, but since they do not meet all the consensus criteria, they are set aside and are part of an alternate history of Ethereum.

Visit : ERC20 token development service

Insufficient reach and negative effects

EIP-1559 sought to solve the issuance problem with two important adjustments: changing the measurement formula in the Ethereum gas price and adding a burning factor in each new block. Thus, the aim was to subsidize (yes, it is a subsidy, even if Ethereum devs don’t like the word) the cost of Ethereum operations and at the same time burn ETH to reduce inflation.

A study carried out in 2022 indicates that although the measure had a strong impact on fees and the issuance of Ethereum, it was insufficient to correct the problem. For example, the gas expense for each ETH block after the hard fork that activated EIP-1559 (London) varied between 0 and 30 million Gas, when before the hard fork it was 15 million. Although this may seem like progress, the reality is that the real impact on the price of Gas is minimal, as seen in the following graph. Please note from 2021 onwards that it already shows the corresponding subsidy.

In addition to this, the measures taken by EIP-1559 encouraged the arrival of MEVs and their manipulation of operations, making this practice more profitable and exposing operations to censorship practices, as has actually happened. In any case, the issuance of ETH has been unstoppable and, although growth has flattened in the last year, the supply continues to increase.

The arrival of Merge and Ethereum 2.0

Issues regarding Ethereum issuance remained throughout the development of Ethereum 2.0. They even continue with this update already deployed. In fact, EIP-1559 is still active, which, together with a mathematically regulated percentage issuance, has helped the issuance of ETH to flatten out in the last year. However, Ethereum’s plans include the demise of EIP-1559. The elimination of this subsidy will once again make Ethereum an inflationary network, with a rate of 6.5% per year, necessary to maintain the tokenomics of this network.

Please note that the Ethereum network depends on there being a flow of ETH to perform operations on it. Said ETH has many uses. Such as network staking for validators (where the ETH is frozen) or stakes and pools, which allow the operation and security of the cross-chain bridges of this chain. Maintaining an adequate flow of new tokens is vital for validators to earn their rewards and for the rest of the ecosystem to sustain itself. In that sense, continuing to burn ETH with EIP-1559 is counterproductive in the long term. Hence, the need to eliminate this system.

Changes that do not know when they will arrive

When will the changes happen? Not even Vitalik Buterin himself can offer a clear answer. The last thing known about this measure was provided by Buterin with the second roadmap of Ethereum 2.0, whose fifth phase, called Splurge, would eliminate EIP-1559 and make a Fix-ALL in Ethereum. However, after that, Buterin has already presented two new roadmaps for Ethereum 2.0 that have changed the priorities of the project, so there is no date. Not even the project creator knows what exactly to do about the problem.

What is known is the main effect of the problem: inflation, which can erode the value of ETH. If the supply of ETH increases too quickly it could cause the price of the coin to decrease. Which could make it difficult to create erc20 token . Ethereum to be used as a reserve currency or means of payment. Although the latter may not be what they are looking for from Ethereum. It seems increasingly clear that Ethereum is becoming a hub for financial applications. If they take a tokenomic perspective more like that of fiat currencies, which is what they basically have now, they could maintain the system and grow little by little.

What seems clear is that the decision must be addressed. Above all, to offer clarity to the community that is building on Ethereum. Still, it’s important to be aware of the risks that Ethereum inflation could pose to the network. Ethereum investors and users should stay tuned for updates on the migration to PoS and other measures being taken to address inflation.

Quantitative Trading: Unleashing the Power of Numbers in Financial Markets

Quantitative trading, also referred to as algorithmic trading or quant trading, is a type of trading strategy that makes trading decisions using automated systems, statistical analysis, and mathematical models. Trades are executed quickly and frequently in quantitative trading by traders using computer algorithms to spot patterns, trends, and opportunities in the financial markets.

Key aspects of quantitative trading include:

Data Analysis: Quantitative traders use historical and real-time market data to identify patterns and relationships that could indicate profitable trading opportunities.

Model Development: Traders create mathematical models and algorithms based on their analysis to predict future market movements and identify potential trades.

Automated Execution: Quantitative trading strategies are executed automatically by computer programs, eliminating the need for manual intervention and enabling rapid execution of trades.

Risk Management: Quantitative trading strategies often incorporate risk management techniques to control the size of trades, set stop-loss levels, and protect against significant losses.

High-Frequency Trading (HFT): Some quantitative trading strategies focus on executing a large number of trades at very high speeds, taking advantage of small price discrepancies in the market.

Arbitrage Opportunities: Quantitative trading can exploit arbitrage opportunities, where price discrepancies exist between different assets or markets, allowing traders to profit from price differences.

Statistical Arbitrage: Traders use statistical models to identify pairs of securities that tend to move together or apart, allowing them to profit from relative price movements.

Quantitative trading has become increasingly popular in financial markets due to its ability to process vast amounts of data quickly, make data-driven decisions, and execute trades with precision and efficiency. It is commonly used by hedge funds, proprietary trading firms, and large financial institutions to gain a competitive edge and generate consistent returns in the ever-evolving financial landscape.

There are various learning methods available for learners to understand these categories of Quantitative trading. Different universities offer Post Graduate Diploma in Management (PGDM) on quantitative trading.

JAGSoM, Bangalore is one of the universities that provide this course and they have a great record of creating CEOs and Founders. You will be getting a Dual EPAT certification once you successfully complete this program.

You can work as an Analyst / Associate / Manager in Quantitative Trading across roles in Research, Analysis, Risk Management, and Strategy.

To know more, please visit their website : https://jagsom.edu.in/program/career-track-in-quantitative-trading/

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https://coinmystique.com/secs-xrp-and-grayscale-bitcoin-etf-circumstances-challenged-by-us-home-majority-whip-tom-emme/?feed_id=9249&_unique_id=652780aecc31d

Home Majority Whip Tom Emmer has as soon as once more taken to Twitter to problem the U.S. Securities and Alternate Fee’s (SEC) method to cryptocurrency regulation. Citing the SEC’s current authorized losses in opposition to Ripple and Grayscale, Emmer means that the regulatory physique’s stance on crypto is misguided. His newest feedback, dated September 3, 2023, have garnered vital consideration, amplifying the continued debate on the suitable degree of crypto regulation.Emmer’s Newest RemarksIn a tweet on September 3, 2023, Tom Emmer acknowledged, SEC loses on Ripple… SEC loses on Grayscale… We are going to see how pending litigation performs out, but it surely must be more and more apparent to policymakers that, regardless of @GaryGensler’s mass advertising marketing campaign, crypto shouldn’t be an trade ‘rife with noncompliance.’Checks and Balances in FocusEmmer’s critique resonate with earlier tweet, emphasizing the position of checks and balances in holding the federal government accountable.Our system of checks and balances holding the abusive Administrative State accountable,he wrote, quoting a earlier tweet that introduced a DC Courtroom of Appeals determination in favor of Grayscale on August 29, 2023.A Constant CriticEmmer has been a constant critic of the SEC’s regulatory method to cryptocurrencies. As early as November 4, 2021, he despatched a letter to SEC Chairman Gary Gensler, questioning the inconsistency within the company’s remedy of Bitcoin futures ETFs and Bitcoin spot ETFs. “I’ve called out @GaryGensler’s regulatory hypocrisy for years,” Emmer famous in a tweet on August 30, 2023.Implications for PolicymakersEmmer’s current feedback add one other layer to the continued debate amongst U.S. policymakers about the way forward for cryptocurrency regulation. With the SEC going through authorized setbacks, the query arises whether or not its present method is efficient and even acceptable, a degree that Emmer’s newest tweet underscores.ConclusionBecause the SEC grapples with authorized challenges and elevated scrutiny, Tom Emmer’s tweets function a well timed critique from a high-ranking authorities official. His feedback recommend that the controversy over the regulatory panorama for cryptocurrencies is way from over, and so they name into query the SEC’s present technique.Picture supply: ShutterstockSupply: https://blockchain.information/information/us-house-majority-whip-tom-emmer-challenges-secs-stance-regard-xrp-and-bitcoin-etf-following-legal-setbacks

BITCOIN KING OF CURRENCY

Bitcoin, the revolutionary digital currency, has been making waves in the financial world since its inception in 2009. With its decentralized nature and secure transactions, it has gained popularity among investors and tech enthusiasts alike. In this article, we will delve into the world of Bitcoin, exploring its features, benefits, and the future it holds.

What is Bitcoin?

Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for intermediaries such as banks. It was invented by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Operating on a technology called blockchain, Bitcoin ensures secure and transparent transactions through a network of computers known as nodes.

How Does Bitcoin Work?

Bitcoin works on the principle of blockchain technology, a distributed ledger that records all transactions made using the indo3388 cryptocurrency. When someone initiates a Bitcoin transaction, it is broadcasted to the network of nodes. These nodes validate the transaction by solving info slot complex mathematical problems. Once verified, the transaction is added as a block to the blockchain.

Benefits of Bitcoin

Decentralization: Bitcoin operates on a decentralized network, meaning that no central authority controls or governs it. This provides individuals with more control over their finances and reduces the risk of government interference or manipulation.

Security: Bitcoin transactions are highly secure due to the use of cryptographic algorithms. Each transaction is digitally signed to ensure authenticity and integrity, making it nearly impossible to counterfeit or manipulate.

Anonymity: While Bitcoin transactions are public, users have the option to remain anonymous. Instead of using personal information, Bitcoin addresses are used, providing a certain degree of privacy.

Low Transaction Fees: Traditional financial institutions often charge hefty fees for international or large-scale transactions. Bitcoin eliminates the need for intermediaries, resulting in lower transaction fees, especially for cross-border transfers.

Global Accessibility: Bitcoin can be accessed by anyone with an internet connection, regardless of their geographic location. This allows for seamless international transactions and financial inclusion for the unbanked population.

The Future of Bitcoin

The future of Bitcoin looks promising, with its growing acceptance and adoption in various industries. Here are some slot gacor key factors shaping its future:

Increased Institutional Adoption: With companies like Tesla and Square investing in Bitcoin, institutional adoption is on the rise. This not only adds credibility to the cryptocurrency but also paves the way for more mainstream acceptance.

Technological Advancements: As technology evolves, so does Bitcoin. Innovations such as the Lightning Network aim to improve scalability and transaction speeds, addressing some of the current limitations of the network.

Central Bank Digital Currencies (CBDCs): Governments around the world are exploring the concept of CBDCs, digital currencies issued and regulated by central banks. This could potentially lead to a greater acceptance and integration of Bitcoin into the traditional financial system.

Store of Value: Bitcoin is often referred to as "slot online" due to its limited supply and scarcity. As a store of value, Bitcoin can act as a hedge against inflation and economic uncertainty, making it an attractive asset for long-term investment. In conclusion, Bitcoin has emerged as a revolutionary form of digital currency, offering benefits such as decentralization, security, and low transaction fees. Its future looks promising, with increasing institutional adoption and technological advancements. Whether Bitcoin will become the currency of the future remains to be seen, but its impact on the indo3388 financial landscape is undeniable. So, are you ready to embrace the world of Bitcoin and explore the possibilities it holds?