Cryptocurrency is basically a machine learning code that we use as blockchain, it doesn’t have any apparent structure, but we can use it to purchase things, and we can transfer it from one place to another.
New units can only be added if specific requirements are fulfilled because cryptocurrencies function autonomously and decentralized, without the involvement of a bank or other central authority.
As an example, Bitcoin only allows for the generation of new bitcoins after a block has been added to the blockchain, at which point the miner will receive their reward. The total number of bitcoins is 21 million; beyond this, no more will be created.
Cybersecurity plays a very important role in the growing structure of finance and future technology, because the importance of cybersecurity in any structure is the best example of the structure.
In the realm of cryptocurrency, a cyber security boot camp offers the perfect setting for people to learn about the complexities of protecting digital assets and transactions. Participants become more capable of handling the particular difficulties presented by digital currencies by developing their knowledge of cryptography concepts, blockchain security, and risk management.
Today’s Cryptocurrency News
Everything has been going exactly as planned, and yes, I do anticipate a lower price. To start, we will see that Bitcoin literally received a perfect rejection at our daily high time frame area of resistance at $999,000.
In our video from yesterday, we made it clear that we needed to pay attention to our first very important support area, which is $97,000. It looks like we had a big push outside with a very tiny reaction right below our previous bottom, but if we don’t see any reactions at this particular support level, be sure you’re prepared for collapse.
Nevertheless, we broke through our prior low and continued to decline in the direction of our next crucial price target, which was the golden Fibonacci ratio at $92,000.
As of right now, Bitcoin is still declining, but I personally still have long or buying positions in both Bitcoin and Ethereum as well as most other altcoins. where we can look to add even more to our long positions or possibly fire a brand new long or buy position because we’ll be paying attention to Ethereum later.
Today’s Cryptocurrency News Elon Musk and Other Influencers
Elon Musk News:
Elon Musk put up a contentious plan to cut $2 trillion in U.S. expenditure.
The richest man in the world right now is advocating for economic changes that use blockchain technology.
Elon Musk, who suggested a contentious remedy modeled after Dogecoin, the meme-based cryptocurrency, warned that the US would go bankrupt “very quickly.” The billionaire’s comments coincided with Bitcoin’s decline from the highly anticipated $100,000 mark. According to Coin Market Cap, Bitcoin is currently trading just around $95k after plunging from a recent peak of $99k.
Charles Hoskinson:
Cardano $SDAFounder Charles Hoskinson says “it is my belief that Bitcoin will go to $250,000 to $500,000 within 12 to 24 months, because of inflows and interest. $BTC is the store of value for the Internet, and will remain in that role now that it has a DeFi layer.”
Pantera Capital founder:
says Bitcoin is “better than Gold, paper money, Visa, Mastercard” and see’s BTC hitting $50 Trillion market cap. 50 million people in the US own it, 300 million people globally, BlackRock and Fidelity are selling it. It really has reached escape velocity.
Dennis Porter:
confirms three more states will announce Strategic Bitcoin Reserves in December.
Cryptocurrency Market Analysis
We are currently anticipating that Bitcoin will continue to correct downward in order for our fourth alpha wave to be completed, and more importantly, we are looking to surpass the fifth of December because, in theory, the correction should take longer than what we got on our second alpha wave.
Therefore, we have the exact timing right here, but when we zoom in, let’s say on the two hourly or the one hourly time frame, the price structure as of right now looks kind of clear we are paying attention to some kind of bigger.
where Bitcoin is currently trading, or it might continue to decline towards our daily level if we do it correctly.
Bitcoin chooses to move higher rather than lower, and we will witness a crazy bounce from this particular area because, as you may recall, we are currently hitting a very significant golden Fibonacci ratio at $92,900.
As of right now, we are obviously at the support level, but in my opinion, this particular support level isn’t the biggest one, and as we previously stated, if we anticipate that the correction will continue in the coming days, we are most likely going to reach slightly lower price targets.
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