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Bitcoin is good as long as it stays above $49,000: analyst

Despite Bitcoin’s 13% drop last week, which saw it break below the psychological $60,000 level and fall 20% from its all-time highs, one X analyst remains resolute.

According to the weekly chart, the trader maintains a bullish outlook and says that the coin will shake off weakness in the next session. This lines up with the bulls for most of Q4 2023 and Q1 2024.

Bitcoin falls and loses $60,000

Bitcoin is under intense sell-off pressure, fighting the onslaught of sellers. Earlier today, BTC broke below $60,000, melting below its April 2024 lows.

This dump confirmed the bears from April 13, indicating a possible start of a bearish formation that could see BTC lose ground, paring February and March 2024 gains.

However, the analyst claims that the bullish trend will continue as long as Bitcoin stays above the $49,000-$52,000 support zone, absorbing all the selling pressure. This evaluation, based on the candle arrangement, can serve as collateral for BTC holders. The trader claims that, despite the sell-off, panic at this time is not justified.

Referring to the Elliott Wave Principle, a technical analysis indicator, the analyst highlights that the currency is simply on pause. For those with a more aggressive trading strategy, the decline, ideally towards the upper support zone, could represent an opportunity to buy dips in anticipation of Wave 5.

Currently, the analyst notes that Bitcoin is in Wave 4, a stage that will take approximately the same time as Wave 2. Prices then fell after a brief rally, peaking in May 2023. However, the Prices rose in Wave 3, pushing prices below $30,000. . to new all-time highs, reaching $73,800.

The decline from all-time highs in spot rates, if the Elliot wave theory is analyzed, could indicate that prices are in the fourth wave before the eventual rise, which will end in the fifth wave.

What is next? Will BTC surpass $100,000 in the fifth wave?

Even so, it is still unknown when BTC will go from bottom to top. As things stand, the analyst said traders should watch two exponential moving averages (EMAs) of the 21 and 50 periods. A retest of these dynamic levels could offer support, preparing traders to buy dips in anticipation of the Wave 5 final.

However, the analyst did not define the next possible target even on the chart. Still, if Wave 3 is roughly the same duration as Wave 5, Bitcoin will have a strong chance of breaking above $100,000 after the current volatile price action ends.

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cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news

What is the difference between FSA and HSA?

An FSA (Flexible Spending Account) and an HSA (Health Savings Account) are both types of accounts that allow individuals to save money for medical expenses, but they have key differences:

  1. Eligibility:
    • FSA: Typically offered through an employer-sponsored benefits plan, FSAs are available to employees who work for companies that offer them. They may also be available through certain government programs.
    • HSA: Available to individuals who have a high-deductible health insurance plan (HDHP). Not all HDHPs offer HSAs, but individuals can often open them independently.
  2. Ownership and Portability:
    • FSA: Usually owned by the employer, meaning that if you leave your job, you might lose any unused funds in the account. However, some FSAs allow for limited rollover or grace periods.
    • HSA: Owned by the individual, allowing them to keep the account even if they change jobs or health insurance plans.
  3. Contributions:
    • FSA: Contributions are typically set by the employee before the plan year begins and are deducted from their paycheck throughout the year. There is usually an annual contribution limit set by the IRS.
    • HSA: Contributions can be made by both the individual and their employer (if applicable). There are annual contribution limits set by the IRS, and individuals can often make contributions themselves or have them deducted from their paycheck.
  4. Tax Treatment:
    • FSA: Contributions are made with pre-tax dollars, reducing the individual’s taxable income. Withdrawals used for qualified medical expenses are also tax-free.
    • HSA: Contributions are made with pre-tax dollars (or are tax-deductible if made outside of payroll deductions), reducing taxable income. Withdrawals used for qualified medical expenses are tax-free, and any interest or investment gains in the account are tax-free as well.
  5. Rollover/Forfeiture:
    • FSA: Typically, funds in an FSA must be used by the end of the plan year, although some plans offer a grace period or allow for limited rollover of funds.
    • HSA: Funds roll over from year to year and can accumulate over time. There is no “use it or lose it” provision for HSAs.

In summary, while both FSAs and HSAs offer tax advantages for medical expenses, HSAs provide more flexibility, ownership, and long-term savings potential compared to FSAs. However, HSAs are only available to individuals with high-deductible health insurance plans.

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cryptocurrency exchange Cryptocurrency news

CoinEx sponsors 2049 Dubai token as proof of its commitment to promoting global cryptocurrency adoption

Dubai, United Arab Emirates, April 2024: CoinEx, a leading global cryptocurrency exchange, is honored to announce its sponsorship as a Gold Partner of Token 2049 Dubai from April 18 to 19, 2024. As one of the events of blockchain and cryptocurrencies, 2049 most influential Token in the world. brings together industry pioneers, investors, businesses, developers, media and other stakeholders to start conversations that will shape the future of Web3.

As a veteran exchange serving over 5 million users in over 200 countries, CoinEx is pleased to participate in Token 2049 Dubai and contribute to the event’s vibrant atmosphere of collaboration and innovation.

“We are excited to connect with the global crypto community as the title sponsor of the 2049 Dubai token,” said Haipo Yang, CEO of CoinEx. Events like Token 2049 are key to driving widespread adoption, promoting an open exchange of ideas, and strengthening ties between builders in this space. The sponsorship reflects our continued commitment to enabling global cryptocurrency adoption.

Additionally, CoinEx and ViaBTC will also host a seaside after-party called “Dubai Beach Night: Where BTC Meets Fun Together” with INTERHASH as co-host at Verde Dubai, Jumeirah Beach Hotel on April 17 at 8:00 PM. 00. I am. CoinEx hopes to engage crypto communities around the world and drive cryptocurrency adoption hand in hand.

About CoinEx

Founded in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform offers a range of services including spot and margin trading, futures, swaps, automated market makers (AMMs), and financial management services to more than 5 million users in more than 200 countries and regions.

With its “quality, fast, and comprehensive” listing strategies, CoinEx has listed over 900 tokens and over 1,400 trading pairs. This wide selection allows users to access the latest cryptocurrencies at the forefront of innovation. Since its inception, CoinEx has firmly adhered to the service principle of “user first”. With the sincere intention of fostering a fair, respectful and safe cryptocurrency trading environment, CoinEx allows people with different levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

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cryptocurrency exchange Cryptocurrency news

Study finds that 70% to 80% of secondary market transactions involve cryptocurrencies and stablecoins

Around 70% to 80% of cryptocurrency secondary market transactions occur between crypto assets and stablecoins. The South Korean government’s welcoming stance, along with the huge popularity of crypto assets in the country, are among the reasons why the won is now the second most used fiat currency.
Decline in cryptocurrency volumes for stablecoin 2021/2

According to the latest analysis by the European Securities and Markets Authority (ESMA) on the structure of the cryptoasset market, approximately 70% to 80% of secondary market transactions occur between cryptoassets and stablecoins, without the participation or the use of fiat currencies.

While this is often the case, the ESMA report suggests that during periods of strong growth, transactions between cryptocurrencies and stablecoins often give way to crypto-crypto transactions. The report supports this theory by noting the increase in crypto-to-stablecoin volumes and a decrease in crypto-to-stablecoin volumes in 2020 and 2021. A similar trend was observed in the second half of 2023.

On the other hand, the ESMA report indicates that the growth of crypto transactions involving fiat currencies may suggest “a greater appetite or flight behavior towards security when withdrawing.” While the US dollar is, unsurprisingly, the most favored fiat currency, ESMA’s analysis also found that the use of the South Korean won has increased significantly.

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cryptocurrency exchange Cryptocurrency news

Crypto Prices Today April 5: Bitcoin At $67K, Ethereum Nears $3300

The top crypto prices today witnessed a mixed action as the Bitcoin (BTC) price rebounded above the $67,000 level. In addition, the Ethereum price neared the $3,300 mark. Meanwhile, other top altcoins, such as XRP and Solana (SOL) tumbled notably while Cardano (ADA) recovered.

Major Crypto Prices Today

The Bitcoin price was up by 3.28% reaching $67,663.81 at the time of writing on Friday, April 5. On the other hand, it’s trading volume jumped 11.53% to $35.12 billion in the last 24 hours. Whilst, the crypto boasted a market capitalization of $1.33 trillion.

Looking at altcoins, the Ethereum price plunged 0.78% to $3,284.74 at press time with a market valuation of $394.55 billion. Whilst, ETH saw its trading volume drop by 27.98%, reaching $14.90 billion. Meanwhile, the Binance Coin (BNB) price defied the bearish sentiment and gained 3.77%, reaching $577.48. On the contrary, its 24-hour trade volume slumped by 3.67% to $2.26 billion.

The Solana price approached a drop below the $190 mark again. The Solana price declined 3.34%, settling at $182.11. In addition, SOL witnessed a 15.94% crash in trade volume to $3.81 billion in the last 24 hours. Whilst, the XRP price extended lower than the $0.59 level. The XRP price recorded a slump of 1.94%, reaching $0.5879. On the other hand, XRP’s trading volume dipped 5.83% to $2.00 billion.

Meanwhile, the Cardano price tumbled 2.72% to $0.5706 today. Whilst, ADA recorded a 26.08% decline in its 24-hour trading volume, settling at $466.28 million. As the top crypto prices crashed today, the meme coin arena followed suit. The Dogecoin price was down by 5.94% to $0.1743 while its rival, Shiba Inu price dipped by 3.60% and traded at $0.00002616.

Also Read: Bitcoin (BTC) Price: Is Long-Term Holder Selloff A Blessing In Disguise?

Top Crypto Prices Today Are
Pepe Coin (PEPE)

The Pepe Coin (PEPE) crypto, a hyped Solana meme coin, didn’t see much change in price today. At press time, the Pepe Coin price was down by 0.26% to $0.000006737 with a market valuation of $2.83 billion. In addition, the 24-hour trade volume for PEPE slumped 16.19% to $510.13 million.

Pendle Soars 28%

Pendle (PENDLE), an Olympus Pro ecosystem token, recorded an impressive surge of nearly 28% and ranked as the top crypto gainer today. The Ethena price was up by 27.64% to $6.27 at the time of reporting. Moreover, its trade volume skyrocketed by a staggering 229.37% and stood at $332.14 million. Furthermore, the Pendle crypto recorded a new all-time high of $6.63 amid the rally today.