Bittime - Daniel Yan, founder of Kryptanium Capital and co-founder of Matrixport, revealed plans to purchase crypto assets at the weekend. Through a tweet on his personal Twitter account, Yan expressed his interest in buying Bitcoin (BTC) at a price around US$66,000 and Solana (SOL) at a price around US$160.
Why Are BTC and SOL Down?
According to Yan, the decline in prices of the two crypto assets was caused by several factors. First, the increase in the benchmark interest rate in the United States (US) which has a negative impact on all risk assets, including crypto. Second, the attention of investors turned to Ethereum (ETH) after the significant increase in ETH prices.
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Buying Opportunities during Price Correction
Even though BTC and SOL prices are currently experiencing a decline compared to the beginning of the week, Yan actually sees an opportunity to accumulate. He plans to buy when the price drops (buy the dip) at the weekend and recommends to his followers to observe the following price levels.
- Bitcoin (BTC): US$66,000
- Ethereum (ETH): US$3,450
- Solana (SOL): US$160
Ethereum Spot ETF Approval
Previously, Yan also said that apart from price levels that need to be paid attention to, he highlighted other factors that could influence future crypto market movements. One of them is the decision regarding the approval of an ETH-based spot Exchange Traded Fund (ETF) proposed by ProShares (19-b4). And today, May 24, 2024, the SEC officially approved 19-b4.
Also Read How to Buy Crypto:
US Long Holiday: Potential Market Volatility
Apart from the decision regarding ETFs, Yan predicts that the long Memorial Day holiday in the US could also influence crypto market movements. Typically, long holiday periods in the US are characterized by lower liquidity and higher price volatility.
Predictions from Daniel Yan, an influential figure in the crypto world, are certainly interesting to watch. However, it is important to remember that these predictions are not a guarantee of investment returns. Always conduct independent research and manage financial risks wisely before making a crypto investment decision.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Buy BTC: Wary of Bitcoin Price Correction Amid Market Euphoria?
Buy BTC: Big Push from BlackRock for Bitcoin ETF
Solana Price Falls, Buying Opportunity in Sight?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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