Good Morning Crypto Enthusiasts!

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

1. Kamala Harris Concedes: Vice President Kamala Harris has conceded the presidential race to Donald Trump, addressing supporters in a heartfelt speech at Howard University.

2. Bitcoin Reserve on the Horizon: Following the Republican win in the Senate, Senator Cynthia Lummis is advancing a proposal to create a strategic Bitcoin reserve for the U.S.

3. 📈Technical Analysis Masterclass - If you're thinking of buying Bitcoin right now, it may be best to wait. Watch UseTheBitcoin’s latest Youtube video “It is not a good idea to buy BITCOIN now! (BTC)” to know why you should be patient or join our Official Telegram Channel for more alpha!

4. 💡Feature of the Day - Coinbase CEO: “Crypto Is Here to Stay”: Coinbase CEO Brian Armstrong expressed optimism for the future of crypto following the U.S. election, which saw Donald Trump win the presidency and other pro-crypto Republicans gain seats.

   
   All this and more in today’s headlines!

📰 News Highlights:

Kamala Harris Concedes [Source][Source]

Kamala Harris has formally conceded to Donald Trump in an impassioned speech about defending American democracy.

Addressing a crowd at Howard University, Harris thanked her supporters and reaffirmed the commitment to a peaceful transfer of power.

Her concession, however, was not an end but a call to action. She reminded Americans to stay engaged in the political process, urging them to continue organizing and fighting for justice and freedom.

The emotional gathering saw supporters moved by the historic nature of her campaign and her message of hope amid adversity.

Bitcoin Reserve on the Horizon [Source][Source]

Following a Republican victory that secured control of the Senate, Senator Cynthia Lummis is doubling down on plans to establish a strategic Bitcoin reserve for the U.S.

The Wyoming senator, an outspoken crypto advocate, is looking to push the Bitcoin Act, which proposes holding 1 million BTC as a federal reserve for long-term national strategy.

This reserve would position the U.S. as a leader in Bitcoin accumulation, helping to safeguard financial assets against inflation and global market shifts.

 📈Technical Analysis Masterclass:

It is not a good idea to buy BITCOIN now! (BTC)

Risk of a Bull Trap

• All-Time High Caution: Bitcoin’s high price can trigger profit-taking from early investors, causing a sudden price drop.

• Bull Trap: This happens when new buyers enter at peak prices, only for early investors to sell and drive the price down, leading to losses for those who bought at the top.

Wait for a Retracement

• Better Entry Point: Waiting for a retracement, or temporary price pullback, to a stable support level can reduce risk.

• Ideal Price Range: Based on historical price movements, Bitcoin might pull back to the $72,000-$73,000 range, a better level to consider buying.

Market Volatility and News Impact

• Economic Events: Upcoming high-impact news could create short-term market volatility.

• Wait and Watch: Observing how Bitcoin responds to this news could help avoid unexpected price dips.

Setting a Stop-Loss and Investing Wisely

• Stop-Loss Protection: Set a stop-loss to automatically sell if the price drops too low, safeguarding your investment.

• Only Invest What You Can Afford to Lose: In a volatile market, only use funds you're comfortable parting with, reducing stress and ensuring rational trading decisions.

💡 Feature of the Day: 

Coinbase CEO: “Crypto Is Here to Stay” [Source][Source][Source]

In a recent post-election address, Coinbase CEO Brian Armstrong expressed optimism about crypto’s future, emphasizing that America’s election results marked a turning point for the industry.

The election saw Donald Trump reclaim the presidency, alongside crypto-friendly Republican Senator Bernie Moreno's victory in Ohio.

Armstrong highlighted that anti-crypto stances may now be politically unwise, citing the pro-crypto movement’s growing voter base disenchanted with the traditional financial system.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

And that’s it for this today.

Buy, sell, store, and convert crypto with today’s sponsor Gemini, full-reserve and highly-regulated cryptocurrency exchange and custodian!

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com