Bitcoin Poised to Skyrocket as Petrodollar Agreement Ends
In a seismic shift within global finance, Saudi Arabia has opted not to renew its longstanding petrodollar agreement with the United States, setting the stage for significant changes in international trade and financial markets. For over 50 years, the petrodollar system has mandated that oil be sold exclusively in US dollars, providing substantial support to the dollar's global dominance. However, this era appears to be drawing to a close. Saudi Arabia's decision marks a strategic move to diversify its payment methods, embracing cryptocurrencies and other major global currencies such as the euro, yen, and yuan. This shift aligns with the kingdom's broader economic vision of reducing its dependence on the US dollar, reflecting a pivotal transformation in the global financial landscape. The End of the Petrodollar Era The petrodollar system has been a cornerstone of international trade since the 1970s, ensuring the dominance of the US dollar in global markets. By requiring that oil transactions be conducted in dollars, the system has created a consistent demand for the currency, bolstering its value and facilitating the United States' ability to finance its deficits and maintain economic influence. Cryptocurrencies and the Future of Global Trade Arabia's decision to move away from this model is not merely a political maneuver but a calculated economic strategy. This move is part of the kingdom's broader efforts to modernize its economy, reduce reliance on oil revenues, and embrace new technologies. The introduction of alternative payment methods, particularly cryptocurrencies, is a significant step in this direction Cryptocurrencies and the Future of Global Trade Saudi Arabia's inclusion in Project mBridge, a China-led cross-border central bank digital currency (CBDC) trial, underscores its commitment to exploring digital currencies for international trade. This initiative aims to facilitate more efficient and secure cross-border payments, positioning cryptocurrencies and CBDCs as viable alternatives to traditional fiat currencies. As Saudi Arabia and other nations adopt cryptocurrencies for trade, Bitcoin stands to gain immensely. Bitcoin's decentralized nature and limited supply make it an attractive asset in times of economic uncertainty, such as periods of high inflation and currency depreciation. With the potential for increased dollar printing and subsequent inflation following the end of the petrodollar agreement, Bitcoin's appeal as a hedge against inflation is likely to grow. Impact on the US Dollar The termination of the petrodollar agreement could accelerate the "de-dollarization" trend already underway globally. Countries are increasingly seeking to reduce their reliance on the US dollar, driven by geopolitical tensions and the desire for greater economic autonomy. Saudi Arabia's move could inspire other nations to explore similar strategies, further eroding the dollar's dominance. Conclusion Crypto analysts highlight that an increase in dollar printing, a probable consequence of diminished global demand for the dollar, could lead to higher inflation rates. In such a scenario, Bitcoin, with its capped supply of 21 million coins, offers a hedge against inflation and currency depreciation. Investors seeking to protect their wealth might turn to Bitcoin, driving its value higher. Conclusion Saudi Arabia's decision to end the petrodollar agreement with the United States represents a watershed moment in global finance. By diversifying payment methods and embracing cryptocurrencies, Saudi Arabia is leading the charge towards a more multipolar financial system. This shift not only diminishes the US dollar's dominance but also sets the stage for Bitcoin and other cryptocurrencies to play a more significant role in international trade and investment. As the world moves towards a new financial order, the implications for Bitcoin and the broader cryptocurrency market are profound. Investors and policymakers alike will be closely watching how these developments unfold, as the end of the petrodollar era could mark the beginning of a new chapter for global finance.
$NOT is the bottom in? are we moving towards a new ATH?
the main coins rising today in strong mid week move. $BNB just reached a new ATH, $BTC is loading up as well.
that means it's just a question of time till NOTcoin moves with this trend, might happen any time
my prediction is , a steady rise towards the retest zone of 0.03 for now. if it breaks, we might see this or coming week already the 0.05 mark.
a critical date is the 16.6.2024 , thats when NOTcoin team will burn an unspecified amount of token and will reduce the total supply , this can create an price shock and prior as well as past this event huge price movements might happening.
tell me what you thinking about this post in the comment section below. remember to checky pinned post on my profile โค
Binance Discontinues Cash Payment for P2P Trades in India: A Shift in Crypto Landscape
In the ever-evolving world of cryptocurrency trading, recent developments have rocked the Indian market. Binance, a prominent player in the global crypto exchange arena, has announced the cessation of cash payment options for peer-to-peer (P2P) trades conducted in rupees within India. This move comes amidst a turbulent regulatory landscape, with the Indian government clamping down on offshore crypto platforms due to concerns over money laundering and tax evasion. Until recently, Binance provided an "escrow service" to Indian crypto traders, facilitating transactions in local currency, thereby enabling them to bypass heavy government taxes on crypto trades. However, with the discontinuation of the cash payment service, traders are left to navigate a new terrain. The decision by Binance reflects the broader regulatory challenges faced by crypto exchanges operating in India. The government's crackdown on offshore platforms, including Binance, Kucoin, and OKX, highlights concerns regarding compliance with anti-money laundering norms and tax regulations. Notably, the Ministry of Electronics and Information Technology directed Apple to remove these platforms from the iOS Store, signaling a concerted effort to regulate the crypto space. In response to these regulatory pressures, domestic exchanges in India are witnessing a resurgence. The crackdown on offshore platforms has inadvertently bolstered the position of homegrown exchanges, with traders flocking to these platforms in search of stability and regulatory compliance. CoinDCX, for instance, has reported a staggering 2,000% week-on-week surge in registrations, indicative of a shifting tide in the Indian crypto landscape. Moreover, CoinSwitch has emerged as the largest crypto exchange in India, surpassing WazirX in user numbers. This surge in activity underscores the growing interest and participation in crypto trading within the country. Notably, India ranks among the top five countries in P2P crypto trading, with a significant portion of traders aged under 35, highlighting the demographic shift driving this trend. While Binance plans its comeback to India after paying a hefty penalty, the regulatory environment remains uncertain. As the government seeks to enforce stricter regulations and oversight, the crypto community must adapt to a new era of compliance and accountability. In navigating these challenges, both traders and exchanges alike must remain vigilant and proactive in adhering to regulatory requirements, ensuring a sustainable and secure ecosystem for cryptocurrency trading in India.
Thanks for readingy article. Please leave a comment below. Giveaway hunters might visit my profile by clicking on my username and check out the pinned post. #Binance #NewsAboutCrypto #IndiaCryptoRegulations $BTC $BNB $SOL
In 2008, the global financial crisis broke out. On November 1 of the same year, a person who called himself Satoshi Nakamoto published the Bitcoin white paper "Bitcoin: A Peer-to-Peer Electronic Cash System" on the P2P foundation website, stating his new vision for electronic currency - Bitcoin was born. On January 3, 2009, the Bitcoin Genesis Block was born. Compared with legal tender, Bitcoin does not have a centralized issuer. Instead, it is generated by the calculation of network nodes. Anyone can participate in the creation of Bitcoin, and it can be circulated around the world and can be bought and sold on any computer connected to the Internet. No matter where you are, anyone can mine, buy, sell or receive Bitcoin, and outsiders cannot identify the user's identity information during the transaction. On January 5, 2009, Bitcoin, which is not controlled by the central bank or any financial institution, was born. Bitcoin is a digital currency composed of a series of complex codes generated by computers. New Bitcoins are created through preset programs.
$NOT is one time more loading ๐ whales will jump in , in about 12 hours from now.
if you want to be early in the next leg up, well that's the time to take your positions. if not, just enjoy the next green candle wall.
if are we able to push through the 0.030 mark, we will probably go straight towards the 0.05 mark and yeah, that's where its gets actually very interesting for a telegram based game.
market capitalization will be huge and this token will land up in a very respectable position in the overall crypto space. a true one time in a while chance.
so, i invite everyone to do his research and decide for yourself.
what you think about this token,price prediction and more? let is know in the comment section below.
$PEOPLE wow what for ride in the past 24 hours. iam no dare to go sleep yesterday. the charts is like a good movie. especially in the past 2 hours it's been an emotional rollercoaster
in view the massive shorts liquidations and the fact that the token rose about 60% in a matter of just one minute, i ask myself where todays goal might be?
can we scratch already today the old ATH of 2021 and looking at a meme token with real 1$ potential in thie ongoing bullrun, or we will see a steady decline towards the 0.085-0.099 area again?
i invite everyone to mention his thought's in the comments section below.
$TURBO just a few hours online on binance futures. have a look and consider a trade. volume picks up even this is not a regular listing But an Underdog referral.
$PEOPLE are you ready for today's lift off towards the 0.1 mark?
we already speaking a few days about it and it seems a few whales pushing with profits taken from Notcoin once more the PEOPLE Charts.
are we going beyond the 0.1 landmark or we fall a bit short today? what do you think? please leave your thougts in the comment section. lets discuss this move ahead โค
๐ง Pay attention to the new Megadrop! The new Megadrop is about to start!
Binance has opened the Lista (LISTA) Megadrop. Users can participate in the Lista super airdrop from 2024-05-30 00:00:00 (UTC). The Lista super airdrop page is expected to be launched on the Binance App within 24 hours.
Unlike Launchpool and Launchpad, Megadrop can be used as a task to make money. It does not require holding BNB, which is suitable for everyone to earn a minimum living allowance.
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$BTC market faced upheaval with the movement of approximately $7 billion worth of Bitcoin from Mt. Gox, a defunct Bitcoin exchange, to an undisclosed address. Initiated during Asian trading on Tuesday, this substantial transfer is part of a strategy to repay creditors by October 31, 2024.
Investor sentiment soured in response to these significant transfers, causing Bitcoin's price to dip by 1.4% to $67,680, following a peak surpassing $70,000 on Monday. Concerns emerged regarding the potential for further sell-offs triggered by the repayment process, potentially exacerbating the price decline.
This marks the first activity in Mt. Gox's cold wallets in over five years, with transactions ranging from nominal sums like $3 and $160 to substantial amounts reaching up to $2.2 billion in Bitcoin. All funds were directed to a new address, as per Julio Moreno, head of research at CryptoQuant.
While Alex Thorn of Galaxy believes the majority of the Bitcoin transferred will remain with creditors rather than being liquidated, market reaction remained subdued in the wake of the news.
$PEOPLE next leg up, even with receding volume over past two days. it is expected to get hot once again over next few hours and stretch once more on the 0.1 mark. if it's passing it and hold above this mark, we will see significant inflows once again.
if it falls below the 0.075 mark, a huge correction can be expected.
so far, the #PEOPLE community hold very trong and against every regular stats. well. done everyone. iam proud to be here ๐ฅ
let us know whats your expectations for today and the coming week in the comment section below.
Attention, traders! Let's dive into the current market dynamics of PEOPLE/USDT and speculate on the potential movements in the next few hours.
๐ Current Price: 0.07851 USDT
๐ 24h Change: +18.72%
๐ Technical Indicators:
RSI(6): 86.70 (Overbought territory)
24h High: 0.07999 USDT
24h Low: 0.06279 USDT
Moving Averages:
MA(5): 7,037.415
MA(10): 4,604,694,278.0
๐ Speculative Analysis:
Bullish Scenario (LONG Signal) ๐: With the RSI in the overbought territory, we might expect a minor pullback. However, if the price maintains above the 24h high of 0.07999 USDT, it could signal strong bullish momentum. A breakout above this level could push the price towards the next resistance at 0.08357 USDT. Keep an eye on the volume; an increase in buying volume could confirm this bullish trend.
Long Signal Entry: 0.08000 USDT Target: 0.08357 USDT Stop-Loss: 0.07700 USDT
Bearish Scenario (SHORT Signal) ๐: The overbought RSI suggests a potential correction. If the price fails to sustain above the 24h high and drops below the 24h low of 0.06279 USDT, we might see a deeper pullback. Watch for a decline in buying volume and a potential increase in selling pressure.
Short Signal Entry: 0.07800 USDT Target: 0.06500 USDT Stop-Loss: 0.08100 USDT
๐ Next Key Date:
Keep an eye on February 12, 2024, as it might bring significant market movements or updates.
๐ Trade Smart!
Always remember to set your stop-loss orders and manage your risk effectively. Stay tuned to WhiteRock Crypto Alerts for the latest updates and precise signals.
Happy trading, and may the markets be ever in your favor! ๐๐