Bitcoin

Bitcoin surges today with speculation Meme Mania is back

Published

9 months ago

13 May, 2024

Bitcoin surges today with speculation Meme Mania is back

The surge in meme stocks today has some investors taking a closer look at the digital asset space.

It’s been an incredible day for high-risk assets, with speculators clearly returning to various meme stocks and cryptocurrencies similar in style today. For Bitcoin (Bitcoin 2.32%), a 2.5% move in 24 hours may seem like small potatoes given what is happening in the market today. GameStop (GME 74.40%) shares rose more than 70% this afternoon, with Reddit (RDDT 8.71%) seeing its share price rise by around 10% as well, with the return of Keith Kill (“Roaring Kitty”) to social media. The meme craze we all thought was dead may have just gone on hiatus.

We’ll see. The post that is driving speculators back into the market shows a man leaning forward in his chair, with many anticipating that this could mean that Roaring Kitty is considering adding a position (or has already done so). Its previous timing of moves in GameStop, which has aligned with speculative rises in other high-risk assets such as cryptocurrencies, could mean that there are now the right catalysts present to create a surge in demand for these assets, driving prices higher in the short term. .

Let’s dive into what to make of this news and another important catalyst for Bitcoin that many are paying close attention to.

Mememania is big business for speculators

Bitcoin’s daily movement has been quite orderly and certainly much quieter than many thought would be the case given this news. The issue is that Bitcoin’s status as a store of value and hedge for big money managers means that these headlines don’t mean much to those with the kind of capital to move the price of this token.

Given Bitcoin’s size and current market capitalization, it is also true that greater amounts of capital are needed to flow into this token to see the kind of appreciation that many expect to see in the world’s largest cryptocurrency. However, calls for $1 million in Bitcoin are now proliferating, with Jack Dorsey among the top executives ringing the bell with that number. Your recent announcement what Block (SQUARE -2.20%) will employ about 10% of the company’s cash flow to acquire Bitcoin every month, providing another demand catalyst for Bitcoin that investors are clearly banking on.

Now, the question is whether this increased demand from retail investors and speculators, in combination with the already strong demand from corporate and institutional investors, could be enough to stimulate Bitcoin’s next rally into the six- or seven-figure range.

It’s a game of supply and demand

I certainly think Bitcoin has moved beyond the speculation stage. Those betting on a rise to a target price of, say, $1 million will likely consider it to be a long and arduous road to that level. Of course, historically speaking, this has not been the case. There are many reasons to believe that if history proves to be our guide once again (in terms of post-halving moves), Bitcoin could perform excellently in the near term. But I think it’s also becoming increasingly clear that seeing the market capitalization of any asset increase by trillions of dollars is going to require a very sharp increase in demand.

The new supply of Bitcoin has become increasingly limited and there are certainly retail, corporate and institutional investors who have reason to continue adding Bitcoin during this point in the cycle. However, I think it will be important for investors to take a balanced approach to growing this token over time. Dollar-cost averaging these assets over time, as Block executive Dorsey reportedly hopes to do, may be the best course of action.

Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions and recommends Bitcoin and Block. The motley fool has a disclosure policy.

Fuente

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.

Fuente

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.

Fuente

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).

Don’t miss a beat – Subscribe to receive email alerts directly to your inbox

To check Price action

Surf Hodl’s Daily Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Image generated: DALLE3

Fuente

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.

Source: TradingView SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive $600 welcome offer on Binance (Full details).

LIMITED OFFER 2024 on BYDFi Exchange: Welcome Reward Up to $2,888, use this link to register and open a 100 USDT-M position for free!

Disclaimer: The information found on CryptoPotato is that of the writers quoted. It does not represent the opinions of CryptoPotato about buying, selling, or holding any investments. It is advised that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.

Cryptocurrency Charts by TradingView.

Fuente