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Contact for any queries @Steffendude
#BITCOIN DAILY TF UPDATE :
#BITCOIN had a very significant drop in the market after the new All Time Highs. Price gave a drop to the support zone as drawn and with that market respected the trendline too. Expecting a range here, no too much until the new Year.
Here's the Analysis of #OP :
#OP rejected strongly from the Strong resistance area of $2.71 - $2.81 and broke the intermediate zone too. Price retested the zone and dropped and expected to have a drop to trendline area and buys look good below $1.50.
Since its launch (Genesis Block), Bitcoin has processed 873,304 blocks on its journey to reaching $100,000 on December 5, 2024. While blocks are now mined every 9.6 minutes due to increased computing power, the historical average is 11.8 minutes. This longer average stems from Bitcoin's early days when mining was slower, as Satoshi had overestimated the processing power of basic computers when setting initial difficulty levels. This journey marks Bitcoin's transformation from an experimental project into a major global financial asset.
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Price tapped into the support and reacted around 6%, let see what goes next 👀
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Here's the Analysis of #DOGS :
#DOGS still moving within a consolidation range and broke the small trend channel to bearish side too. Price is on a bottom of the range as support around $0.00045 - $0.00054 and expected a minor reaction from here. Market doesn't look healthy here and better wait for the opportunity or lower the risk with tight stops.
Is ETH Turing Complete?
Yes, Ethereum is indeed classified as Turing complete. It functions as a decentralized and open source platform that facilitates contracts. Smart contracts are self executing agreements where the terms and conditions between buyers and sellers are directly encoded into lines of code.
To accomplish this, Ethereum employs a programming language called Solidity for writing contracts. These contracts are subsequently executed on the Ethereum Virtual Machine (EVM). The EVM is characterized as Turing complete since it has the capability to perform any computation that can be described in a form. This empowers developers to construct applications on the Ethereum platform, capable of executing a wide range of computations.
Is Bitcoin Turing Complete?
No, Bitcoin does not possess the attribute of being Turing complete. It operates as an open-source cryptocurrency functioning on a network. Its primary objective is to enable decentralized value transfers between individuals.
In contrast to Ethereum, Bitcoin does not support logic. The scripting language employed in Bitcoin transactions is limited in scope. It lacks the ability to perform computations. Consequently, Bitcoin cannot be classified as Turing complete since it lacks the capacity to execute computations described by algorithms.
The decision to implement this design was deliberate aiming to enhance the security of the system and reduce the risk of errors or potential harm caused by entities. Nonetheless, it also implies that Bitcoin lacks the ability to provide the extent of complexity and functionality as a Turing platform such as Ethereum.
As of December 05, Bitcoin's supply distribution across major holders showed:
Exchanges held 1.8M BTC (9.1% of total supply)
US-based ETFs managed 1.1M BTC (5.6%), showing significant growth since their January 2024 launch
Miners held 700K BTC (3.5%), excluding Patoshi blocks
US Government Treasury controlled 187K BTC (0.9%)
This distribution pattern highlights the growing institutional presence in Bitcoin custody, where large entities are becoming significant holders while maintaining market liquidity and stability. The balance between individual ownership and these larger institutional holdings represents an evolving dynamic in Bitcoin's ownership structure.
#BTC dropped very good, with the #FED news, and key area as we mentioned. H4 is now rejecting the key area, and Daily Bullish market structure standing at a last point for bullishness. If we can build proper support then we can move up.
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Throughout this period of extraordinary market expansion, investors have realized a total of $1.27 Trillion in profit and -$592 Billion in losses on-chain (based on the delta between acquisition and disposal prices). This resulted in a cumulative net capital inflow (Realized Cap) of $750 Billion and underscores the tremendous value which has flowed into the Bitcoin network over its lifetime.
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Binance Will Delist AKRO, BLZ, WRX on 2024-12-25
https://www.binance.com/en/support/announcement/b140faee7cf9482cb10257308abda245
Here's the Analysis of #SUSHi :
#SUSHI forming a triangle pattern, forming a support at $1.81 - $1.92 and expected a bounce from the there. Waiting for a clean breakout of the resistance line and for buys and anticipating a break of major resistance area of $2.74 - $3.06.
Bitcoin has had an actively traded price for 5,256 days and has travelled from fractions of a cent to $100k. This journey has included 72 positive monthly candles (including December 2024), with an average gain of 37.4%, and 71 negative monthly candles, averaging a decline of -14.2%.
This reflects the fascinating balance between bull and bear markets and the infamous positive skew during the most consequential periods of price appreciation.
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Here's the Analysis of #OSMO :
#OSMO is been moving back and forth of the flip area around $0.63 - $0.67 and going lower with the resistance trendline. Price broke the support trendline and might go bearish, while #Bitcoin hits its ATH levels. Eventually, we'll see rise, so try to accumulate $0.53 - $0.56 looks good support zone.
MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR
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#DEXE had an another fantastic pump over past few minutes and made the high of 38.78% and which with 10x leverage its around 380% in profits. Enjoy the Profits and Lock some too.
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What Is Turing Completeness?
Turing completeness refers to the capability of a system or programming language to solve any problem that can be solved by a machine created by mathematician Alan Turing. It signifies the ability of a system or language to carry out any calculation that a general-purpose computer can perform.
This concept holds significance in the field of computer science as it determines the power of different systems and programming languages. If a system is deemed Turing complete it means it has the capacity to execute any computation that a computer's capable of. Conversely, if a system is not Turing complete it implies limitations, in its abilities.
How Do You Determine Turing Completeness?
A system can be considered Turing complete if it meets the criteria;
1. Input/output operations; The system must have the capability to read data and generate output.
2. Conditional branching; It should be able to alter its behavior based on computation results.
3. Loop constructs; The system must have the ability to repeat sets of instructions times.
4. Computation; It should have the ability to perform any calculation that can be done by a Turing machine.
After establishing these properties it can be concluded that the system meets the criteria of being Turing complete. However, it's important to note that being Turing complete in theory doesn't automatically mean the system is practical or efficient for all calculations.
#VOXEL had a close below of the support and its was no sense for buys as #BTC was dipping strongly. Now, lower moves are expected towards the next key area around $0.11 - $0.12. This was an accumulation zone earlier and might go the up move, so you can do the same here too.
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#BTC reacted from the $100,000 level and eventually broke it strongly in NY session. Now price approaching towards the next support area of $95,000 - $95,300, where same can happened, and its was expected as Winter mostly come with a dump in market, where we already gave an alert in the market.
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MARA has acquired 15,574 BTC for ~$1.53 billion at ~$98,529 per Bitcoin
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#ORDI had an break and close below of the channel and now expected to reach the support drawn around $24.17 - $25.68. Market sentiment must be taken into account before any entry.
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Here's the Analysis of #VOXEL :
#VOXEL rejected strongly from the strong resistance area of $0.27 - $0.28 and approaching towards the support zone (Grey Box) around $0.18 - $0.19, which could be potential buys if market remains slow.
#TLM dropped as per the expectation, Price is on a trendline and having support from the area, price can max drop to flip area and a higher move can expected.
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#BTC gave a new #ATH today and now price is having some strong dump in the market, in H4 its looks strong, but on Daily it looks very healthy retest. Let's see How market performs later on, $100,000 is key area as of now.
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What Is Turing Completeness?
Turing completeness refers to the capability of a system or programming language to solve any problem that can be solved by a machine created by mathematician Alan Turing. It signifies the ability of a system or language to carry out any calculation that a general-purpose computer can perform.
This concept holds significance in the field of computer science as it determines the power of different systems and programming languages. If a system is deemed Turing complete it means it has the capacity to execute any computation that a computer's capable of. Conversely, if a system is not Turing complete it implies limitations, in its abilities.
How Do You Determine Turing Completeness?
A system can be considered Turing complete if it meets the criteria;
1. Input/output operations; The system must have the capability to read data and generate output.
2. Conditional branching; It should be able to alter its behavior based on computation results.
3. Loop constructs; The system must have the ability to repeat sets of instructions times.
4. Computation; It should have the ability to perform any calculation that can be done by a Turing machine.
After establishing these properties it can be concluded that the system meets the criteria of being Turing complete. However, it's important to note that being Turing complete in theory doesn't automatically mean the system is practical or efficient for all calculations.
#GOLD UPDATE :
#GOLD goes as per the plan and tapped into the zone 1st. Price dropped hard from the resistance around 2.55% and Potential Scale-in at H4 Resistance around 1.64%. That's a pretty good move and now price is below the resistance again and drop might continue till support area around $2618 - $2624.
#BTC printed a new #ATH over $107,000 and now retraced with as per the market conditions. Price again trying to get to the top and potentially make new #ATH today.
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What is URPD (UTXO Realized Price Distribution) ?
#URPD stands for UTXO Realized Price Distribution, to analyze the distribution of Bitcoin's realized prices based on the age of the UTXOs (Unspent Transaction Outputs) or in other words #UTXO Realized Price Distribution (URPD) shows at which prices the current set of Bitcoin UTXOs were created (i.e. each bar shows the amount of existing bitcoins that last moved within that specified price bucket). The price specified on the x-axis refers to the lower bound of that bucket.
The UTXO Realized Price Distribution helps to understand the average cost basis of Bitcoin holders based on when they acquired their coins. It divides the UTXOs into different age groups, such as those acquired within the last 30 days, 90 days, 180 days, and so on, and calculates the average price at which those coins were last moved.
This metric provides insights into the behavior of long-term holders (HODLers) and short-term traders. It allows analysts to determine the levels at which different cohorts of Bitcoin holders may be willing to sell their coins, as well as the potential price levels at which they acquired their holdings.
By analyzing the URPD, one can gain a deeper understanding of the distribution of Bitcoin's realized prices across various time frames and identify potential price points where significant buying or selling pressure may emerge.
The rapid price increase saw little trading activity between $76,000 and $88,000. This suggests an "air gap" that could become a zone of interest if the market corrects lower before attempting to break above $100,000. Analyzing supply distribution during this price discovery phase can provide insights into key support and resistance levels. Consolidation is often needed to confirm new price ranges after sharp moves, and the trading volume profile can reveal potential areas of support or resistance as the market seeks equilibrium.
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