Stocks linked to Donald Trump, including crypto stocks and prison operators, surged in premarket trading on Monday following an assassination attempt on the Republican candidate, which increased his odds of winning the US presidential election.

Investors predicted a rise in trades favoring Trump’s victory this week after he was shot in the ear during a rally in Pennsylvania. Trump, appearing unfazed, pumped his fist moments after the attack, with his campaign assuring the public of his well-being.

Shares of Trump Media & Technology Group (TMTG) skyrocketed 46 percent. Trump holds a majority stake in the company, valued at approximately $3.8 billion as of June 25, according to LSEG data. TMTG, the parent company of social media platform Truth Social, has seen its stock climb 75 percent this year, driven by retail traders betting on a Trump victory in the November 5 rematch against Democratic candidate and current US President Joe Biden.

Crypto stocks also benefited, tracking bitcoin’s rise to a two-week high, as Trump has portrayed himself as a supporter of cryptocurrency. Crypto exchange Coinbase Global and bitcoin miners Riot Platforms Inc and Marathon Digital rose between 5 percent and 7 percent.

“Investors are becoming more confident of a Trump victory, and it is starting to be more heavily reflected in certain sectors,” said Rick Meckler, partner at Cherry Lane Investments. However, he noted that the overall market impact was more subdued. “Most investors are not changing their overall commitment to US equities. After all, the broad stock market rose under the last Trump administration and has risen under the Biden administration as well,” Meckler added.

Gun makers and ammunition stocks, including Smith & Wesson Brands, Sturm Ruger & Company, and Ammo, jumped between 5 percent and 6.7 percent. Gun stocks often rise after mass shootings due to fears that gun control measures might limit firearm availability.

July 12, 2024

Bitcoin’s price experienced a slight uptick on Thursday, rising by just 0.1% to $58,549.6 as of 08:09 ET (12:09 GMT). Despite this marginal gain, the cryptocurrency continues to grapple with significant challenges, including increased token supplies and persistent selling pressure from sources such as Mt Gox and the German government.

Struggles and Supply Concerns

Over the past month, Bitcoin has suffered a 15% decline, nearing bear market territory. The defunct crypto exchange Mt Gox remains a critical issue for Bitcoin. Trustees of the exchange, which was hacked in 2014, have started returning tokens to affected clients. The extent of this distribution is unclear, but earlier this year, wallets linked to Mt Gox mobilized approximately $9 billion worth of tokens.

Additionally, the German government has been offloading Bitcoin confiscated from a piracy website, potentially holding up to $2 billion in tokens. The declining price of Bitcoin has raised concerns that major miners might sell their holdings to break even, especially after Bitcoin’s recent halving reduced miner rewards.

Market Reactions and Bargain Buying

Despite the challenges, Bitcoin has remained above its four-month low from earlier in July. Recent price declines have triggered some bargain buying, offering limited relief. Over the past week, capital inflows into Bitcoin investment products, especially exchange-traded funds (ETFs), have increased, instilling some confidence in the currency and preventing further declines.

Sentiment towards crypto ETFs is expected to improve in the coming weeks, particularly as the Securities and Exchange Commission (SEC) prepares to make a key decision on spot ETFs for Ether, the world’s second-largest cryptocurrency.

Broader Cryptocurrency Market

In the broader cryptocurrency market, major altcoins have seen gains. Ether rose by 1.3% to $3,149.32, XRP increased by 2%, ADA climbed by 3%, and SOL added 0.5%. Meme tokens like DOGE and the Investing.com Shiba Inu Index remained mostly flat.

Improved optimism regarding potential U.S. interest rate cuts has weakened the dollar, although this has offered limited support to cryptocurrency prices. Federal Reserve Chair Jerome Powell noted progress in reducing inflation but emphasized that more confidence is needed before cutting interest rates. Investors are now focused on the upcoming consumer price index data for further rate-related cues.

Speculation Index and Bitcoin Prices

The speculative fervor in the crypto markets seen in the first quarter has diminished, potentially signaling a resurgence in Bitcoin prices. Capriole Investment’s crypto speculation index, which tracks the percentage of altcoins with 90-day returns greater than Bitcoin, has fallen below 10%, significantly lower than its January peak of nearly 60%.

Historically, a speculation index below 10% has marked the beginning of significant Bitcoin rallies, as observed in the first half of 2019, late 2020, and the second half of 2023. Speculative washouts act as corrective mechanisms, aligning asset prices with fundamentals and fostering a healthier long-term market environment.

Zerodha Co-founder Nithin Kamath Raises Concerns About Cryptocurrency Tax Rules on Social Media

Nithin Kamath, co-founder of Zerodha, recently used the social media platform X (formerly Twitter) to highlight the inconsistent taxation of cryptocurrency transactions.

Kamath noticed an advertisement for a cryptocurrency Futures and Options (F&O) exchange, which prompted him to post his concerns. He pointed out that while the Securities and Exchange Board of India (SEBI) is working to restrict F&O trading, a crypto F&O ad appeared on the front page of the Economic Times. Kamath emphasized that these crypto platforms claim the 1% Tax Deducted at Source (TDS) rule, which applies to regular cryptocurrency transactions, does not apply to crypto F&O transactions. He urged the Finance Ministry and Nirmala Sitharaman to investigate this discrepancy.

SEBI’s New Circular and Its Impact

Kamath also commented on a recent circular issued by SEBI, which will eliminate the rebates brokers receive from stock exchanges based on overall turnover. He explained that SEBI’s new rules require market infrastructure institutions, like stock exchanges, to be transparent about their charges. This change will significantly affect brokers, traders, and investors.

Kamath noted that stock exchanges charge transaction fees based on brokers’ total turnover. The difference between what brokers charge their customers and what the exchange charges the brokers is a rebate, which brokers keep. These rebates are common globally and account for about 10% of Zerodha’s revenue and up to 50% for other brokers. With SEBI’s new circular, this revenue stream will disappear.

Impact on Zerodha’s Brokerage Model

Kamath explained that Zerodha was one of the last brokers offering free equity delivery trades, subsidized by F&O trading revenues. Due to the new SEBI rules, Zerodha will likely need to end its zero brokerage structure or increase brokerage fees for F&O trades. Kamath added that brokers across the industry would need to adjust their pricing models in response to these changes.

A perfect storm of negative factors has sent its prices plummeting in recenty. The primary culprit appears to be the initiation of creditor payouts by Mt. Gox, the defunct cryptocurrency exchange. This large-scale BTC liquidation has spooked investors and triggered a wave of selling, pushing the price near its yearly lows.

Adding to the bearish sentiment are Bitcoin sales by the US Government along with the institutions potentially affiliated with the German government. These additional sales further pressured the price, especially considering US markets were closed during a critical support break.

With Bitcoin now trading near its yearly lows, all eyes will be on US markets reopening today and how institutional investors react. Demand for Bitcoin ETFs has been rising recently, and their behavior could determine the direction of the cryptocurrency.

The ongoing Mt. Gox payouts raise the possibility of continued price drops as investors anticipate further selling. This could be exacerbated by ETF sales triggered by a bearish market perception.

While internal crypto dynamics are driving the current negativity, today’s release of the highly anticipated US Non-Farm Payrolls data should not be overlooked. A weaker-than-expected report, signaling a cooling economy, could provide a positive swing for Bitcoin and the broader market by paving the way for potential Fed interest rate reductions.

The Fed’s scaling back of its rate cut forecast and the high operational costs faced by Bitcoin miners post-halving have also been contributing factors to the overall downward pressure. Additionally, historical trends suggest that Bitcoin may be experiencing a period of seasonal selling activity.

Despite the current negativity, a recovery wave for it remains possible once the selling finds equilibrium. This will likely hinge on positive developments and a confirmation of potential recovery through technical indicators.

Bitcoin Weekly Chart Analysis

The weekly chart reveals a sharp decline in it after losing the $60,400 support level. The next significant support lies around $50,400. Should close below this level on the weekly chart, the price could drop further to $43,900, aligning with the Fib 0.382 level of the long-term uptrend. Additionally, the EMA values on the weekly chart indicate a continued negative trend, suggesting the decline may persist.

With no strong support at current levels, the daily chart offers insight into potential intermediate support points.

Bitcoin Daily Chart Analysis

It gained significant upward momentum in the first quarter, as shown on the daily chart. The cryptocurrency fluctuated, using $60,000 as support and peaking at $71,000 in the past three months, forming a double top pattern. If it breaks the support line this week, it could decline by the distance between the support and peak levels.

Today, It dropped to $53,400, testing the critical Fib 0.618 support relative to the 2024 uptrend. If this support zone fails, BTC could retrace to $48,300 (Fib 0.786) in the coming days, aligning with the double top pattern. Consistent daily closes below $53,500 could trigger further declines to Fib 0.786.

However, positive US employment data and slower BTC transfers from Mt. Gox might boost market sentiment. For a recovery, It needs to close above $57,300 this week. Additionally, watching the Stochastic RSI, which is currently declining sharply, for signs of slowing and reversing upward can signal a potential recovery.

If it fails to hold the $53,500 support, we could see it drop below $50,000.

Yes, you heard it right – crypto is not just a buzzword; it’s a revolution that’s reshaping the live casino niche before our very eyes. Today, let’s explore the fascinating intersection of crypto and live casinos and unravel how this dynamic duo is transforming the way we play, bet, and win in the world of online gambling.

1. Instant and Secure Transactions: The Crypto Advantage

Picture this: you’re in the middle of an intense live blackjack game and you want to place a bet quickly. Traditionally, you’d go through the hassle of inputting your credit card details, dealing with processing delays, and worrying about the security of your transactions. Enter cryptocurrencies – the superheroes of instant and secure transactions in the live casino realm.

With crypto, transactions are lightning-fast. Whether you’re depositing funds into your casino account or withdrawing your winnings, cryptocurrencies like Bitcoin and Ethereum eliminate the waiting game. 

Plus, the robust encryption and blockchain technology ensures that your transactions are as secure as Fort Knox. No more fretting about your financial data – crypto provides a shield of anonymity and security, allowing you to focus on the thrill of the game.

2. Decentralisation: Empowering Players and Casinos Alike

In the world of traditional casinos, a central authority governs every aspect of the game – from payouts to random number generation. Crypto, with its decentralised nature, disrupts this paradigm. Blockchain technology ensures that games are fair, transparent, and tamper-proof. Every bet, every spin, and every win is recorded on the blockchain, creating an immutable record that players can verify.

This decentralisation not only instils trust in players but also empowers casinos to offer provably fair games. It’s a win-win situation – players who try out new live casinos enjoy a level playing field while casinos build a reputation for fairness and integrity. The trust engendered by decentralised systems is reshaping the relationship between players and casinos, fostering a sense of mutual respect and transparency.

3. Global Access: Breaking Boundaries, One Bet at a Time

One of the most exciting aspects of cryptocurrencies in live casinos is their ability to transcend geographical boundaries. Traditional payment methods often come with restrictions based on location, currency, and banking regulations. Crypto, however, knows no borders. 

Whether you’re in the bustling streets of New York, the serene beaches of Bali, or the historic alleys of Rome, crypto grants you access to a world of live casino games with just a few clicks.

This global accessibility not only expands the player base for live casinos but also fosters a diverse and vibrant community of players. It’s like joining a global casino party where players from every corner of the world come together to enjoy the excitement of live games, share strategies, and compete for the ultimate jackpot. Crypto’s borderless nature ensures that everyone gets a seat at the virtual table.

4. Innovative Gaming Experiences: Crypto-Powered Games

The marriage of cryptocurrencies and live casinos has given birth to a new breed of games – crypto-powered live games. Imagine playing roulette or poker with bets placed in Bitcoin or other cryptocurrencies. These games not only add an extra layer of excitement but also open the door to innovative betting options.

With crypto-powered games, players can explore unique features such as micro-betting, where bets can be placed in fractions of cryptocurrencies. This flexibility allows players to experiment with different strategies without committing large sums of money. Additionally, crypto-powered games often come with higher betting limits, catering to high-rollers and adventurous players looking to make significant wins.

Conclusion 

And there you have it fellow casino enthusiasts – the crypto revolution unfolding in the live casino niche. From instant and secure transactions to global accessibility, decentralisation, innovative gaming experiences, and generous bonuses, cryptocurrencies are reshaping the way we play and enjoy live casino games.

As players, we find ourselves at the forefront of this digital evolution, embracing a future where every bet is a step into the crypto-powered realm of endless possibilities. 

So, whether you’re a seasoned poker pro or a casual roulette enthusiast, the crypto-powered live casino experience awaits. Grab your digital wallets, place your bets, and get ready to play the future, one bet at a time. The table is set, the cards are dealt, and the crypto revolution is in full swing – are you ready to join the game? Happy betting!

Step 1: Choosing Your Cryptocurrency

The first step is deciding which cryptocurrency you want to buy. Here are some of the most popular options:

• Bitcoin (BTC) – The first and most well-known cryptocurrency. Bitcoin has the largest market cap and is considered “digital gold” for its store of value.
• Ethereum (ETH) – The second largest crypto, Ethereum is a software platform for decentralized apps and smart contracts. ETH is the native currency of the network.
• Monero (XMR) – A privacy-focused cryptocurrency that offers anonymous transactions by obscuring sender and receiver identities.
• Litecoin (LTC) – Created as a faster and more lightweight version of Bitcoin. Useful for cheap and fast crypto payments.

Once you’ve chosen a cryptocurrency, it’s time to find an exchange where you can buy it.

Step 2: Finding a Crypto Exchange

Cryptocurrency exchanges are platforms that allow you to buy, sell, and trade crypto. Some things to look for in an exchange:

• Security – The exchange should use encryption and cold storage to protect your funds.
• Fees – Many exchanges charge fees for transactions. Look for reasonable fees.
• Payment methods – For buying crypto, you’ll need an exchange that lets you deposit fiat currency like USD from your bank account.
• Verification – Most exchanges require ID verification like a driver’s license for account setup.
• Available cryptocurrencies – Some exchanges only support the major coins like BTC and ETH while others list hundreds of altcoins.

Once you’ve found an exchange that fits your needs, it’s time to create an account.

Step 3: Creating an Exchange Account

The signup process for exchanges is usually simple, requiring only an email and password to create your account. Once your account is setup, you’ll need to complete identity verification before being able to buy.

The verification process requires you to provide personal information including:

• Full legal name
• Physical address
• Phone number
• Photo ID like a passport or driver’s license

This keeps the exchange compliant with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Once your identity is verified, you can start adding funds to your account.

Step 4: Depositing Funds

To buy crypto, you’ll first need to deposit fiat currency into your exchange account. Most exchanges support connecting your bank account to make deposits.

Here are some deposit options they may support:

• Bank transfer – Link your bank account to transfer USD, EUR, or other currency directly. Transfers may take 1-5 days.
• Debit/credit card – Instant but sometimes has higher fees.
• eWallet – Intermediary services like PayPal or Neteller that transfer to the exchange.
• Wire transfer – Direct bank transfer that clears rapidly.
• Cash deposit – Some exchanges have partnerships with banks or other retail stores to accept cash deposits.

Be sure to only deposit an amount you feel comfortable with to start.

Step 5: Buying Your Chosen Cryptocurrency

Now comes the exciting part – actually buying crypto!

To buy, you’ll just need to:

1. Choose your desired crypto and enter the amount you want to buy.
2. Choose your payment currency (likely the fiat you deposited) and enter that amount.
3. The exchange rate between the crypto and your currency, along with any fees, will determine the total cost.
4. Confirm your order and complete the purchase.

Some exchanges like ChangeHero make it easy to directly exchange one crypto for another, like BTC to ETH exchange or XMR to ETH. The purchased crypto is automatically deposited into your exchange wallet.

And that’s it – you’ve now successfully bought your first cryptocurrency!

Step 6: Managing Your Crypto

Now that you have crypto in your exchange wallet, here are some tips for managing it:

• Exchange trading – Exchanges allow you to trade your crypto for other coins and tokens. Just beware of the risks.
• Wallets – Move your crypto into a secure digital or hardware wallet for long term storage.
• Earn interest – Some exchanges offer interest accounts to earn yield on your crypto holdings.
• Spend crypto – More merchants are accepting crypto for payments. Look for ones that take your coin.
• Diversify investments – Consider building a portfolio with a mix of cryptocurrencies and assets.

I hope this detailed guide gives you the steps and information needed to easily buy your first cryptocurrency. The process may seem overwhelming but takes just a few minutes once you have an exchange account setup.

With these tips, you’ll have the knowledge to buy crypto like a pro. Just start small, take security precautions, and have fun exploring the new world of decentralized digital currency!

TurboXBT offers simplistic trading tools that help traders of all experience levels make up to 90% instant profit from a single trade. 

The platform currently offers outstanding conditions that put you in control of your entire trading experience. Using state-of-the-art synthetic trading algorithms, the platform levels the playing field in the ever-volatile crypto market, allowing you to make a fortune from short-term trades whenever you want.

Follow these three tips for a profitable trading experience on TurboXBT

As a newbie or experienced trader on the platform, there are three tools that can aid your journey towards making a fortune. 

The first is the demo account which comes preloaded with 1000 worth of virtual coins. With this tool, you can familiarize yourself with the trading process of the platform. In addition, the demo account will allow you to practice and come up with a winning strategy before making stakes with real money.

The second tip on making a fortune on TurboXBT is leveraging the contract durations. The platform comes with several options starting from 30 seconds. Choosing the timeframe that you’re comfortable with will surely increase your winning chances.

The final tip you can leverage to get huge returns on TurboXBT is not sticking to one asset on the platform. You’ll find 17 assets and 38 trading pairs on TurboXBT, offering different profit margins capped at 90%. 

Sticking to only one trading pair might reduce your chances of cashing in huge bucks from the others. As such, spreading your trade will not only increase your chances, but it’ll also help you get familiar with the others to easily pinpoint the asset that brings in the highest returns for you.

Now that you know the secrets to make a fortune on TurboXBT, it’s also important that you understand how other features work.

Sticking to only one trading pair might reduce your chances of cashing in huge bucks from the others. As such, spreading your trade will not only increase your chances, but it’ll also help you get familiar with the others to easily pinpoint the asset that brings in the highest returns for you. This Motley Fool review can help you diversify your portfolio for long-term investment.

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There is increased popularity in the related Ethereum blockchain for so-called decentralized finance applications. Ethereum made a network upgrade would allow it to process a similar number of transactions as Mastercard Inc. and Visa Inc.

Blockchain computing may be the future of the cloud and Ether is the best investment considering the risk and reward in crypto. Most of the risks include only setbacks for the network upgrade or a crypto bear market.

Ether increased its value five times last year compared with the quadrupling in the price of Bitcoin during a polarizing crypto growth. Supporters believe that digital coins are growing as an asset class, while critics say they remain susceptible to uncontrolled speculation and major instability.

We know Bitcoin came under selling pressure this week after Janet Yellen, elected by Joe Biden as Treasury Secretary, suggested that the use of cryptocurrencies should be restricted as they were mainly used for illegal financing. We also had a problem with “double spending”.

However, BitMEX said that the double release may actually have been another type of less cumbersome transaction.

Proponents argue that cryptocurrencies are fast becoming a safe asset that can protect investors’ wallets from the dangers of inflation and currency devaluation generated by the extraordinary fiscal and monetary incentives unleashed during the coronavirus pandemic.

The number of institutional investors who are interested in Bitcoin is also growing rapidly. BlackRock announced the demand for the currency.

On the other hand, market interest has increased sharply in recent months. Some analysts say last fall may be an opportunity. It will certainly be an interesting watch for the coming weeks.Post navigation

It was groundbreaking news when Bitcoin spiked, last November, to its highest price since 2017 reaching a record breaking €15,019. But after a week of cryptocurrency mania, its price plunged.

Massive media explained the rise and fall of cryptocurrencies as a big fish investor fueled maneuver to fast track gains, but experts like Antoni Trenchev, managing partner of Nexo in London, explained that every major spike in a currency is plausible to undergo a correction.

However, the scepticism created by that minor fall has been overcome as cryptocurrencies rapidly recovered its value and today Bitcoin is steadily growing and reached a value of €28.000.