Im a seasoned crypto technical analyst specializing in market patterns for Bitcoin and ETH. I provide reliable insights and strategies for traders and investors
"Dear traders, if you are still holding your long position in $TON for futures trading, you can consider booking 75% of your profit now. I believe it may go down from here, but please make sure to do your own research."
Here are Four Main Reasons Bitcoin, Shiba Inu and XRP are Down Yesterday
1. Mt. Gox creditors receiving 142,000 BTC and 143,000 BCH, leading to increased selling pressure. 2. US stock market crash wiping out over $1.1 trillion in value, spilling over into the crypto scene. 3. Decline in S&P 500 and NASDAQ indices, exacerbating negative market sentiment. 4. Imminent expiration of $4 billion Bitcoin options contracts, causing market instability. $BTC Stay informed and stay ahead in the game! #CryptoMarkets #Bitcoinâ #xrp #ShibaInuSurge
Hereâs When India Plans to Unveil Crypto Discussion Paper
While Indian crypto users were granted no relief from the draconian tax rules in the countryâs budget for 2024-2025, a âdiscussion paperâ outlining its policy stance on the industry could be released before September this year. The main objective behind the discussion paper is to gather inputs from relevant stakeholders on the ideas outlined in it. Indiaâs Crypto Discussion PaperIn an interview with Moneycontrol, Indiaâs Economic Affairs Secretary Ajay Seth said that the discussion paper will include suggestions on how to regulate cryptocurrencies in India, which currently is only covered under anti-money laundering (AML) and electronic funds transfer (EFT) laws. Other important focus areas will be to explore whether the scope of regulation should be expanded and what the policy stance should be. An inter-ministerial group, including members from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), is developing a broader policy on cryptocurrencies. The discussion paper is anticipated to be ready before September. Seth was quoted saying,âThe policy stance is how does one consult relevant stakeholders, so it is to come out in the open and say here is a discussion paper these are the issues, and then stakeholders will give their views.âIndiaâs plan to release a discussion paper comes in response to G20 countriesâ support of the International Monetary Fund (IMF) and Financial Stability Board (FSB) guidelines during Indiaâs G20 presidency last year. The IMF-FSB synthesis paper advised against a hostile approach, such as an outright ban on crypto activities, highlighting the difficulties in enforcing such a measure. In a statement to CryptoPotato, the co-founder of CoinDCX, Sumit Gupta, said that he is optimistic about the Indian governmentâs move to establish an Inter-Ministerial Group to review and release a consultation paper. The exec added,âThis initiative is a significant step toward shaping the future of the rapidly evolving and dynamic Web3 industry in India. As key stakeholders in this sector, we urge the government to actively seek input from domestic businesses. Engaging with local businesses will ensure that the regulatory framework is robust, inclusive, and supportive of innovation.âNo Tax Relief for Indian Crypto InvestorsWhile India lacks a thorough crypto regulatory framework, it requires crypto entities to register with the Financial Intelligence Unit (FIU-IND) to comply with anti-money laundering (AML) and counter-terrorism financing standards set up by international organizations like the Financial Action Task Force (FATF). This move provided a significant credibility boost for the industry. However, the existing tax system has been extremely controversial as it imposes a 30% tax on cryptocurrency gains and a 1% Tax Deducted at Source (TDS) on crypto asset transfers, raising concerns among investors and industry professionals regarding its effects on the countryâs crypto market. In another setback for the Indian crypto sector, investor hopes were dashed when Finance Minister Nirmala Sitharaman made no changes to the existing crypto tax regulations in her 2024-2025 budget speech. The post Hereâs When India Plans to Unveil Crypto Discussion Paper appeared first on CryptoPotato.
Beware of P2P Scams on BinanceđScammers are increasingly targeting P2P transactions. Here's how it works:1. Initial Setup: The victim places an order and completes the fiat payment to the scammer. 2. Scammer Tactics: The scammer contacts the victim via phone or Telegram, urging them to cancel the order for a refund. Less vigilant users might comply, allowing the scammer to quickly transfer or sell all the cryptocurrency. 3. Advanced Deception: For more cautious users, scammers impersonate Binance customer support, convincing the victim to scan a Web Login QR code. This grants scammers access to the victim's account, enabling them to cancel the order and steal the cryptocurrency.Protect Yourself:- Once youâve paid, never cancel the order.- Verify customer service requests through Binance's official channels.Stay vigilant and protect your assets. #CryptoSafety #BullBanter #Binance #P2PScam #CryptoSafety #BullBanter #Binance #P2PScam #StaySafe Use PromoCode BNCX to create 1 X Bet account and get 100$ instantly
1. Ethereum (ETH): Continues to be the leading smart contract platform with numerous applications and ongoing upgrades. 2. Cardano (ADA): Known for its focus on security, scalability, and sustainability through a research-driven approach. 3. Solana (SOL): Offers high throughput and low transaction costs, making it popular for DeFi and NFT projects. 4. Polkadot (DOT): Facilitates interoperability between different blockchains, enhancing the overall ecosystem. 5. Avalanche (AVAX): Provides a scalable and efficient platform for decentralized applications. 6. Chainlink (LINK): Crucial for connecting smart contracts with real-world data, enhancing the functionality of many blockchain applications. 7. Polygon (MATIC): Aims to solve Ethereum's scalability issues with its Layer 2 scaling solutions. The choice depends on your risk tolerance, investment strategy, and research on each project's potential. $ETH $SOL