2024-08-15 01:00:51 by NewsBTC

The market’s bullishness has now spread to altcoins with Bitcoin SV capturing some of its momentum. According to CoinGecko, the token is up over 10% since last week, becoming one of the top gainers within this market environment. With private equity enjoying gains as well, the bullishness has leaked to the crypto market, turning the early August wipe into well-deserved upticks.  BSV up in the last week. Source: CoingeckoBitcoin SV On Good Price Range For A Breakout As of writing, the token sits right in the middle of the $40-$46 price range which will be essential for the coming breakout. For the bulls, maintaining the current momentum of the token is vital in the long term. The market’s continuous bullishness should be enough to prop up the bulls if exhaustion takes over.  However, the relative strength index (RSI) of the token reveals that the bulls and the bears are in a tight lock, indicating that BSV’s momentum has slightly gone down. But with the general market in support of the bulls in the short term, the token has a shot at taking $62 in the long term if the momentum is consistent.  But this also depends on the general outlook of the market. As G7 economies experience slightly better economic conditions, the market will continue to be positive on the coming release of several economic indicators in the coming weeks. BSVUSDT trading at $43.24 on the daily chart: TradingView.comMarket Hunkers Down As CPI Data Release Nears As of writing, traders in traditional finance are still split between a 25 and 50 base point cut in the coming weeks. However, 51% of traders are still expecting a 50 bps cut once the consumer price data is released. The CPI is one of the most crucial economic indicators that investors and traders are monitoring monthly. Last July, the CPI data showed a slight dip in CPI, indicating a slight dip in the purchasing power of the US dollar.  With the release of the CPI data nearing, the general market enters a lockdown phase, gaining slight upticks in the short term to stabilize the price in a manageable price range. The S&P 500 and the Dow Jones are both up over a percent as the market gradually slows its momentum.  If the CPI data shows that inflation is dropping, the market’s assumption of a rate cut will eventually come true. A drop in interest rate will not only be beneficial for TradFi but also for the crypto market as the latter’s movement hinges on the movement of private equity. However, another dip in CPI might push the US Federal Reserve to maintain its interest rates which is currently 5.5% after the 8th Federal Open Market Committee last month. This scenario will see large outflows on both stocks and crypto, hurting long-term and short-term gains.  Featured image from Host Merchant Services, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.