Crypto Market Analysis | 27 September 2024

Crypto Market analysis

Bitcoin reached its highest price in two months as the monetary stimulus in two of the largest economies, the US and China continues to boost investor confidence. Bitcoin crossed its resistance at the $65k mark with good volumes, making paths for its way across the next resistance path extremely soon.

Yesterday marked the launch of one of the highest-ever played Telegram mini game Hamster Kombat’s token – post launching at 1.4 billion dollars of fully diluted valuation, quickly fell 50% as airdrop holders rushed to sell the token after the negative publicity around it for not distributing enough rewards to the users. It is to be noted however that with more than 300 million users participating in the game, it was extremely unlikely to give substantial airdrop to most of its users.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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