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Shiba Inu Price Prediction: Might Explode in December

Shiba Inu Price Prediction: Might Explode in December
  1. Price Prediction for December 2023: The prediction suggests a bullish trend for Shiba Inu in December 2023, with expectations of a sharp rise. A potential 10% to 15% up-move is anticipated.
  2. EMA Analysis: SHIB price has climbed above the 50-day and 200-day Exponential Moving Averages (EMAs), indicating a positive trend reversal. This has boosted investor confidence.
  3. Consolidation and Expansion: The consolidation range in SHIB is expected to mature soon, with the possibility of an expansion. This could lead to a significant price movement.
  4. Volume Analysis: The trading volume is reportedly on the rise, which is viewed as a positive factor influencing the price. An increase in buying volume could indicate potential bullish momentum.
  5. Technical Indicators: The Relative Strength Index (RSI) is mentioned to be at 55, sloping upward, indicating strength in the bulls. The Supertrend also favors the bulls, suggesting an upward short-term trend.
  6. Price Levels: Key resistance levels are identified at $0.00000965 and $0.00001137, while support levels are noted at $0.00000760 and $0.00000662.
  7. Conclusion: The conclusion emphasizes the anticipation of a rise in Shiba Inu's price in December 2023. The momentum is expected to increase when the price successfully breaks the $0.00000965 resistance.
  8. Disclaimer: A disclaimer is provided, emphasizing that the views and opinions expressed are for informational purposes only and do not constitute financial or investment advice. Cryptocurrency investments carry risks of financial loss.

Remember, while technical analysis and predictions can provide insights, they are not guaranteed, and market conditions can change rapidly. It's important to conduct thorough research and consider various factors before making any investment decisions.

Bitcoin Price Analysis: Near $40K

1. Bitcoin Price Prediction for December:

  • The prediction suggests that the BTC rally will sustain above $40,000.
  • The analysis indicates the beginning of a bull run with the potential for a significant rise in the coming months.

2. BTC Price Trend:

  • BTC price is currently in a strong uptrend with no signs of weakness.
  • The market leader is trading near its May 2022 high, suggesting positive momentum.

3. Recent Price Action:

  • In November, BTC experienced consolidation in the range of $35,600 to $38,000, interpreted as a short-term base formation.
  • Buyers successfully broke the $38,000 barrier and pushed the price toward $39,000.

4. Moving Averages (EMAs):

  • The 50-day and 200-day EMAs are sloping upwards, indicating a bullish trend.
  • A short-term retracement to the 50-day EMA is expected in the coming months, although no signs of weakness are currently observed.

5. Recent Performance in December:

  • BTC rose by 4% in three trading sessions in December, sustaining above $39,000.
  • Aggressive buyers are preparing to break the $40,000 barrier.

6. Potential Correction:

  • If BTC faces rejection at $40,000, a minor correction is likely.
  • The $38,000 and $36,000 ranges are identified as demand zones for the bulls.

7. Bullish Chart Patterns:

  • BTC is considered to be in the initial phase of a bull run, forming bullish chart patterns on multiple time frames.
  • A rally of approximately 40% in the last two months indicates the strength of the bulls.

8. Conclusion:

  • The overall Bitcoin price prediction suggests a rise, with the expectation that $40,000 will be broken in December 2023.
  • The chart patterns indicate bullish momentum on multiple time frames, with a low probability of a significant correction. If a correction occurs, $35,600 is seen as a strong support level.

9. Technical Levels:

  • Resistance levels are identified at $40,050 and $42,987.
  • Support levels are noted at $35,603 and $34,001.

10. Disclaimer:

  • The views and opinions presented are for informational purposes only and do not constitute financial or investment advice.
  • Investing or trading in crypto assets carries a risk of financial loss.

Best Crypto Tax Software That Digital Asset Users Must Know

1. Introduction:

  • The number of crypto taxpayers has been steadily increasing in recent years.
  • Crypto traders, both new and experienced, need applications to manage crypto taxes.

2. Overview of Crypto Tax Landscape:

  • Many countries are working on regulatory frameworks for cryptocurrencies.
  • Taxation on crypto income is becoming a standard practice in countries allowing crypto transactions.

3. Most Popular Crypto Tax Software:

  • The following applications are highlighted for their features and ease of use.

4. Koinly:

  • Launched in 2018, operates in over 20 countries.
  • Provides tax reporting and tracking for multiple cryptocurrencies.
  • Offers an income overview, supporting automatic imports from other blockchains.
  • Downsides include customer support concerns and a transaction limit of 100,000 per year.

5. CoinLedger:

  • With 400,000 investors, it's a leading crypto tax platform.
  • User-friendly interface for easy taxation, integrates several exchanges.
  • Real-time tax filing, supports DeFi, NFTs, and various exchanges.
  • Offers tax-loss harvesting reports, live chat, and email support.

6. TokenTax:

  • A full-fledged crypto accounting firm with exclusive plans for businesses and entrepreneurs.
  • Takes care of the entire taxation process for customers.
  • Considered more reliable but pricier than other platforms.
  • Supports DeFi and NFTs, with additional charges for transaction imports.

7. ZenLedger:

  • Established in 2017, a user base of 50,000 in the US.
  • Features built-in integration of hardware wallets like Trezor.
  • Supports NFT, DeFi, and staking, allows tax report import into TurboTax.
  • Offers tax-loss harvesting reports, some users report a complex user experience.

8. CoinTracker:

  • Launched in 2017, known for portfolio tracking and crypto tax reporting.
  • Supports over 10,000 digital assets and facilitates gain and loss tracking.
  • Provides a tax-loss harvesting report for profit-making opportunities.
  • Cons include only email support and pricing based on the number of transactions.

9. TaxBit:

  • Founded in 2018, caters to businesses, individuals, and governments.
  • Known for data analysis services to government agencies.
  • Integrated with 500+ exchanges, supports DeFi and NFT transactions.
  • Allows import of reports to TurboTax, limited functionality, and availability only in the US.

10. Conclusion:

  • Using top crypto tax software can save time, effort, and money for users.
  • These applications offer helpful features, making crypto tax management convenient.
  • Users are advised to compare different options before choosing a particular program.

11. Meta:

  • Most nations tax income from crypto trading, making accurate calculations crucial.
  • Choosing the right crypto tax software can help traders strategize their investments and make trading more profitable.

The FTX Scam: Inside The Sam Bankman-Fried Story

1. Introduction:

  • FTX scam orchestrated by Sam Bankman-Fried, creating shockwaves in the crypto market.
  • Characterized by deceit, manipulation, and a breach of trust.

2. FTX's Rise:

  • FTX became the second-largest crypto exchange globally under Sam Bankman-Fried's leadership.
  • High-profile endorsements and partnerships with Tom Brady, Stephen Curry, and others.
  • Sports sponsorships, including a $135 million deal for the Miami Heat's arena.

3. Sam Bankman-Fried's Background:

  • SBF, a MIT graduate, founded Alameda Research before establishing FTX in 2019.
  • Advocated for effective altruism and committed to donating a significant portion of wealth to charity.

4. Good Product, Bad Faith:

  • FTX introduced innovative financial products under Bankman-Fried's guidance.
  • Questions arose about FTX's financial practices, particularly the relationship with Alameda Research.

5. FTX Scandal Unfolds:

  • November 2022: Report reveals Alameda's balance sheet heavily reliant on FTT, FTX's native token.
  • FTX's balance sheet analysis exposes red flags, indicating financial interdependence with Alameda.
  • Chain of events includes conflict with Binance, leading to FTX's liquidity crisis and bankruptcy.

6. Impact on Crypto Market:

  • Bitcoin's price drops over 30%, causing significant losses in market capitalization.
  • FTX investors face losses, some exceeding 50% of invested capital.
  • FTX contagion leads to regulatory scrutiny and impacts broader crypto sentiment.

7. Sam Bankman-Fried Trial:

  • Bankman-Fried faces seven counts, including fraud and conspiracy, in a Manhattan federal court.
  • Accused of looting $8 billion, diverting funds from FTX to Alameda, and misleading investors.
  • Trial reveals intricate details of financial mismanagement and vulnerabilities in the crypto industry.

8. Revelations from Trial:

  • Secret exemption for Alameda from FTX liquidation protocols.
  • Coordination to keep Bitcoin's price below $20,000.
  • Alleged bribery of Chinese officials and targeting Saudi royalty for funds.
  • Efforts to influence US politicians against Binance.

9. Future of FTX:

  • FTX explores a potential relaunch, focusing on non-US customers.
  • Plans to file a restructuring plan by Q3 2023 for judicial confirmation by Q2 2024.
  • Challenges in the US market due to stringent securities regulations.
  • Consideration of incentives for former customers to return, possibly involving equity stakes.

10. Legal Scrutiny on Auditors:

  • Prager Metis faces SEC lawsuit for auditor independence violations.
  • Armanino defends its work for FTX US, facing legal action from FTX customers.
  • Regulatory scrutiny on auditing processes and oversight.

11. Impact on the Crypto Ecosystem:

  • FTX collapse raises concerns about the stability and regulatory oversight of crypto exchanges.
  • Calls for stricter regulations and oversight in the cryptocurrency industry gain momentum.
  • FTX contagion affects various tokens and projects, causing a loss of investor confidence.

12. FTX Japan's Unique Position:

  • FTX Japan anticipates a more immediate restart due to consumer protection laws.
  • Talks with Japanese officials for a potential reopening.

13. Sam Bankman-Fried Verdict:

  • Found guilty on all seven counts, including fraud and conspiracy.
  • Trial outcome underscores the severe implications of financial mismanagement in the crypto industry.

14. Future of FTX Token (FTT):

  • Uncertainty about the role of FTT in the potential relaunch.
  • Management's focus on restoring investor confidence and complying with regulatory scrutiny.