Bitcoin

3 reasons to buy Bitcoin like there’s no tomorrow

Published

7 months ago

24 June, 2024

3 reasons to buy Bitcoin like there's no tomorrow

As Bitcoin becomes more and more popular, it gains the potential to grow in the long term.

The good news is that Bitcoin (Bitcoin -6.91%) represents an increase of 50% in the year. The bad news is that Bitcoin has been in decline for much of the last three months. Since reaching a new all-time high of $73,750 in mid-March, Bitcoin appears to have lost its charm and now trades for just $64,000.

But now is not the time to give up on Bitcoin. In fact, there are three good reasons why you should buy Bitcoin like there’s no tomorrow.

Bitcoin ETF Flows

The main factor that propelled Bitcoin to a new all-time high was the launch of Bitcoin spot exchange-traded funds (ETFs) in January. The huge investor enthusiasm for this new investment product led to huge new inflows into Bitcoin, and this led to a steady increase in the price. To date, more than $30 billion has been funneled into the new spot Bitcoin ETFs.

Although inflows have slowed recently, this new source of demand for Bitcoin is still a very important catalyst in both the short and long term. Right now, investors typically allocate around 1% of their portfolios to cryptocurrencies. But if they decide to increase that allocation to 3% or even 5%, then these new flows could really take off.

Furthermore, we have not yet seen the arrival of the largest institutional investors, such as sovereign wealth funds. But these could happen soon, according to leading asset managers.

This constant flow of new money provides a floor for the price of Bitcoin. Even if there is selling pressure in the crypto market, the flow of new money will help absorb it. And Bitcoin is still the only cryptocurrency with spot ETFs that can be traded.

Bitcoin is becoming popular

Some are waiting to invest in Bitcoin until it becomes fully mainstream. After all, for much of its history, Bitcoin has been dogged by concerns that somehow it’s all just a giant Ponzi scheme, or that the only people using Bitcoin are shady underworld criminals. This is why the new spot ETFs are so important – they open Bitcoin to the masses and come with a seal of approval from the Securities and Exchange Commission (SEC).

Furthermore, the list of Bitcoin converts continues to grow. These are people who once hated Bitcoin but are now embracing it. The list of converts started with hedge fund billionaires, who now see Bitcoin as a hedge against inflation and geopolitical risk. It then included Wall Street money managers, who began hearing from their institutional clients who wanted a way to invest in crypto.

And it now includes high-profile politicians and lawmakers, who are starting to see encryption as a campaign issue. Take former President Donald Trump. He is now positioning himself as the “president of crypto” and is suddenly very bullish on Bitcoin and Bitcoin mining. Meanwhile, congressional leaders are trying to enact new crypto-friendly legislation, and there are even rumors that the Biden administration may decide to become more pro-Bitcoin.

Bitcoin is the future of money

There is simply no better long-term investment narrative than the one surrounding Bitcoin. The Bitcoin algorithm guarantees that Bitcoin mining will exist for at least the next 100 years. At that point, Bitcoin will have reached its total lifetime supply of 21 million coins (about 19.7 million are now in circulation).

Image source: Getty Images.

I believe digital currencies are the future of money and that it’s really just a question of which one will come out on top. Perhaps central bank digital currencies I have the upper hand now, but my money is in Bitcoin.

It’s true that El Salvador is the only nation that has had any success with Bitcoin, and even that success is highly debatable. But many very smart people – including Cathie Wood of Ark Invest – are now tracking Bitcoin adoption in emerging markets. The more the adoption rate grows, the higher the value of Bitcoin could be.

How high can Bitcoin go?

As Bitcoin becomes increasingly popular, its price should continue to rise. Research and brokerage firm Bernstein predicts that the price of Bitcoin could reach $200,000 by 2025, and from there, the sky is the limit. Cathie Wood, for example, is predicting that Bitcoin will reach $1 million before 2030.

This is why I’m buying Bitcoin like there’s no tomorrow. A small initial investment today could skyrocket in value in just five years. Just remember to buckle up for the ride – if Bitcoin takes off for its $1 million moonshot, there’s bound to be a lot of turbulence along the way.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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