Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. New Crypto Committee Lead: Pro-crypto Rep. French Hill will chair the U.S. House Financial Services Committee in 2025, succeeding Patrick McHenry.

2. Avalanche $250M Upgrade: Avalanche secured $250M in funding from major investors to support its Avalanche9000 upgrade, launching December 16.

3. 📈Technical Analysis Masterclass - Gala (GALA) is currently at a critical juncture. Watch UseTheBitcoin’s latest Youtube video “GALA’s Next Big Move is Around the Corner!” to see if indicators suggest bullish potential or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - Mark Cuban Talks Crypto: Mark Cuban explained crypto fundamentals to Jon Stewart on his podcast, likening Bitcoin to digital gold and critiquing SEC policies.

   
   All this and more in today’s headlines!

📰 News Highlights:

French Hill to Lead Key Crypto Committee in 2025 [Source][Source][Source][Source]

Arkansas Representative French Hill, a pro-crypto lawmaker, will chair the United States House Financial Services Committee starting January 2025.

Hill, who currently leads a subcommittee on digital assets, will succeed Patrick McHenry, a staunch crypto advocate retiring after two decades in Congress.

Hill’s appointment follows his optimism earlier this year about passing crypto regulation and stablecoin bills, which stalled in the Senate.

With Scott now chairing the Senate Banking Committee, the two hold greater sway to push these initiatives forward in 2025.

Avalanche Secures $250M for Major Upgrade [Source][Source]

Layer-1 blockchain Avalanche has raised $250 million in a private locked-token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital.

Over 40 companies participated, including SkyBridge, Hivemind, and Morgan Creek Digital.

This funding comes ahead of the anticipated Avalanche9000 upgrade, touted as the blockchain’s most significant development yet.

The upgrade, built on the “Etna” framework and key community proposals, introduces innovations such as redefined layer-1 subnets and reduced validator costs.

The Avalanche9000 testnet launched on November 25, with its mainnet debut scheduled for December 16.

 📈Technical Analysis Masterclass:

GALA’s Next Big Move is Around the Corner!

Key Technical Signals

• Consolidation at 20MA:

  • GALA is hovering near the 20-day moving average (20MA), a crucial support level.

  • Consolidation here often signals indecision but sets the stage for a breakout in either direction.

  • A potential dip to test the 20MA could solidify support for an upward move.

• Fibonacci Buying Zones:

  • GALA has entered key Fibonacci retracement levels, ideal for potential entry points.

  • Place stop-loss orders just below these levels to manage downside risk effectively.

• Golden Crossover:

  • The 100-day moving average (100MA) recently crossed above the 200-day moving average (200MA), indicating bullish momentum.

  • While not guaranteeing an immediate price surge, this crossover is a positive long-term trend signal.

• RSI Above Median:

  • The Relative Strength Index (RSI) remains above 50 despite a recent 30% drop, signaling buyers’ control.

  • Watch closely: RSI below 50 may indicate downside risk, but staying above supports potential recovery.

Trading Tips

• Risk Management:

  • Set clear stop-loss levels and avoid over-leveraging your positions.

  • Manage position sizes to mitigate the impact of the crypto market’s high volatility.

• Patience and Discipline:

  • Consolidation phases often precede major moves. Avoid impulsive trading and wait for clear signals.

🎁Freebie:

Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!

💡 Feature of the Day: 

Mark Cuban Explains Crypto to Jon Stewart [Source][Source][Source][Source]

Mark Cuban, billionaire entrepreneur and crypto advocate, appeared on Jon Stewart’s podcast to discuss digital assets and their political implications.

Cuban argued that unfavorable crypto policies, such as those by SEC Chair Gary Gensler, may have cost Vice President Kamala Harris key votes in the 2024 election.

Cuban educated Stewart on the fundamentals of crypto, likening Bitcoin to digital gold and emphasizing its benefits, such as faster, cheaper transactions.

Stewart, admitting limited knowledge of blockchain, humorously referred to the interview as “Digital Currency for Dummies.”

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

Meme of the day provided by @TheBTCTherapist

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com