Bitcoin on a correction course – this coin is holding up –

Bitcoin on a correction course - this coin is holding up -

Click Here To See The Best Crypto Presales That Could Increase 10X This Year!

Bitcoin’s recent rallies could hint at an impending market drop if the price significantly clears $33,000. This is according to the latest issue of the weekly newsletter, The Week On-Chain, published by the analysis firm Glassnode.

Risks of Speculative Selling: The Role of Short-Term Investors and the MVRV Indicator

In an increasingly volatile market environment, short-term investors play an increasingly important role in shaping bitcoin’s price action. Also known as Short-Term Holders (STHs), this group of investors is generally more speculative and their actions can have a significant impact on the price of Bitcoin.

STHs are leading due to the recent market climate. Their collective average cost emerged as a broad area of ​​support for the bitcoin price around $26,000. Although this price base has been significant for the past few weeks, analysts at Glassnode expect that this momentum could soon reverse.

A valuable tool for assessing speculative selling risk is the MVRV (Market Value to Realized Value) indicator. This compares the current value of the coins to the price when they were last traded. An MVRV value of around 1 is usually a “break-even” price where investors make neither a profit nor a loss.

The current MVRV data for short-term investors shows a strong reaction once the MVRV ratio hits 1. Currently, this ratio stands at 1.12, which means that STH Group has achieved an average profit of 12%. If the Bitcoin price continues to rise, the STH-MVRV is expected to rise as well. As soon as it exceeds 1.2, there is a historical risk of taking a profit that should be taken seriously.

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Market Sentiment and Profit Taking: Is Bitcoin Facing a Bear Market?

Uncertainty in the bitcoin market has increased significantly in recent months. Despite the uptrend, the attitude of investors is still cautious to the bearish. This skepticism has led many market participants to expect another period of consolidation and then expect Bitcoin prices to fall.

According to data from the on-chain platform Santiment, traders are actively looking for cheap buying opportunities and expect that the price of bitcoin may fall to levels between $27,000 and $29,000 in the coming days. This prospect is a clear consequence of the current market outlook, which is confirmed by the increase in specific searches related to selling terms compared to buying terms.

The recent price rally above $30,000 only briefly dampened the bearish sentiment and many market participants are assuming that this bounce is just a temporary “bull trap”. This skeptical position indicates that there is an increased likelihood of a bear market because market participants are more capable of taking profit and selling when market sentiment is weak.

In addition, some analysts believe that the recent rise in the price of bitcoin is only temporary and expect the price to drop below $25,000, possibly as low as $20,000 or less. This suggests that the bear market is not over yet and that further downturns may be to come. In this uncertain market environment, caution is advised and thorough analysis is essential before making any investment decision.

But there is currently a project that is bucking the trend of uncertainty and is literally going through the roof as part of its pre-sales. We are of course talking about the best Bitcoin alternative: $WSM.

This crypto project has not been impressed by the negative market sentiment and is going through the roof

In a world where cryptocurrencies and memes intersect in interesting ways, there is a project that seamlessly blends these two concepts. Wall Street Memes (WSM), a new player on the crypto playing field, defied the negative market sentiment and posted an impressive performance.

Despite the market uncertainty and the downturn of many cryptocurrencies, WSM has already raised over $10 million in its pre-sale phase. Backed by a strong community, the project harnesses the enormous potential of memes to turn the modern financial sector upside down.

Wall Street memes

Developed by the creators of the popular Wall St Bulls NFT collection, the WSM token has already attracted strong investors. In the four weeks since its launch, it has raised over $10 million and its community has grown to over a million followers on various social media. Despite the inherent risks associated with presales, the potentially high returns and strong community support have encouraged many investors to come on board.

The fact that figures like Elon Musk have responded to Wall Street Memes tweets has only increased interest in the project. Musk knows that his tweets can have a significant impact on meme coin prices, and his interactions with Wall Street memes could give WSM another boost.

Transparency and commitment to the project are other reasons to invest in WSM. From the entire supply of WSM tokens, nothing has been reserved for the team. Instead, 50% was allocated for pre-sales, 30% for community rewards, and 20% for exchange liquidity. This community-centric approach demonstrates the project’s commitment to avoiding “rugby pull” situations and reinforces confidence in its sustainability.

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Wall Street Memes has also announced a massive airdrop for pre-sale investors. Five lucky winners who participate in the project’s social media and complete simple tasks will have a chance to win $50,000 worth of WSM tokens.

The Wall Street Memes PreSale and Tokenomics: An Opportunity for Investors?

The pre-sale or “PreSale” of cryptocurrencies is a critical time that offers great profit opportunities for potential investors, but at the same time it also involves significant risks. At Wall Street Memes, the pre-sale seems to be a huge success.

Interestingly, the pre-sale of the WSM token will take place in 30 phases, more than half of which are already completed and fully sold. The success of the pre-sale is a clear indication of the strong interest of investors in this project.

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Also of interest are the economics, ie the economic and financial mechanisms that govern the WSM token ecosystem. Of the total 2 billion WSM tokens, 50% are reserved for PreSale, 30% will be awarded as community rewards, and 20% will be set aside for exchange liquidity. It is significant that no signs were reserved for the development team. This demonstrates a high level of transparency and commitment from the team in earning and maintaining the trust of investors.

Last updated on June 27, 2023

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Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.

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