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IT’S HAPPENING AGAIN: Cryptocurrency Prices Plummet into Oblivion for the 473rd Time This Year – Is It Even Worth Waking Up to Check?

AltcoinsBitcoinDeFi 3 Barry Thompson August 15, 2024

An illustration of an index chart with multiple lines representing different cryptocurrencies (SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA) moving in various directions; some are rising while others are falling. The background is dark blue and the lines have varying colors to distinguish between each cryptocurrency. A few arrows point upwards indicating buying pressure on certain cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL). Other arrows pointing downwards indicate selling pressure on XRP, Dogecoin (DOGE) and Cardano (ADA).

The never-ending saga of cryptocurrency’s attempt to be taken seriously continues! It seems like every week is Groundhog Day for Bitcoin and its altcoin friends – they’ll stumble along, trying to recover from their inevitable crashes, only to face more selling pressure.

Meanwhile, the Crypto Fear & Greed Index has dipped back into extreme fear territory. Well, who wouldn’t be afraid of investing in a market that’s as volatile as a teenager on a sugar high? The fact is, folks, cryptocurrency is still just numbers on a computer screen created from thin air by people with too much time and money to waste.

And what about the institutions buying up stablecoins? Oh wait, they’re not. According to Lookonchain, it seems like nobody wants them anymore. Go figure!

As for the technical analysis of each coin… well, let’s just say that if I had a dollar for every “key level” and “strong support zone” mentioned in this article, I’d have enough money to buy up all the DOGE in existence.

In short, it seems like we’re back where we started – with cryptocurrency trying desperately to prove its worth as an investment. But until then, it’s just a bunch of hot air (or should I say “hot coin”?).

Source: cointelegraph

Price analysis 8/12: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA
https://cointelegraph.com/news/price-analysis-8-12-spx-dxy-btc-eth-bnb-sol-xrp-doge-ton-ada
The S&P 500 (SPX) Index rebounded sharply from its intra-week lows to end the week on a flat note. Bitcoin (BTC) also made a similar recovery from its weekly lows to finish with marginal gains of about 1%. The failure of the bears to capitalize on the weakness suggests that the lower levels are attracting buyers. The bears tried to deepen the pullback on Aug. 12, but the bulls purchased […]

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Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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