Bitcoin

Bitcoin at $1 million? MicroStrategy buys more

Published

12 months ago

16 June, 2024

Bitcoin lags behind stocks and bonds in Q2 2024

Today’s edition of the weekly recap: Bernstein predicts Bitcoin (Bitcoin) will reach US$1 million in 2033; Ethereum ETFs are expected to launch in July; MicroStrategy intends to buy more BTC; and more fraudsters are developing romantic relationships to defraud victims.

Bernstein Sees BTC at $1M Despite Market Uncertainty

Pepê Currency (PEPE) with experience an 11% increase in 24 hours to $0.0000129, with a rapid increase in volume to $1.27 billion. Toncoin (TON) also recorded a similar increase, reaching a new all-time high of $8.13.
Interestingly, Mantra (OM) also reached a new all-time high of $1.0924 last week amid expansion efforts in the UAE and project development.
The NFT market mountain range an increase of 17%, reaching US$ 145.3 million in sales. Bitcoin led this surge with a 50% jump in NFT sales, surpassing Ethereum in volume.
Bitcoin Price knocked down to $66,000 before the Federal Open Market Committee (FOMC) decision. Analysts noted that similar market behaviors were observed in previous FOMC-related scenarios.
Despite market-wide bearish sentiment last week, asset manager Bernstein foreseen a rise of Bitcoin to $1 million by 2033. They also predicted that Bitcoin would reach $200,000 this cycle, driven by ETF-driven demand.
Bitcoin and Ethereum balances on exchanges Reached a four-year low, falling below 2.3 million and 16 million respectively, as investors continued to withdraw their assets from exchanges.

Crypto ETF Developments

BTC ETF Outflows to knock $200 million on June 11, ahead of Federal Reserve inflation data. These outflows occurred because investors anticipated the impacts of the next data release.
Bloomberg ETF analyst Eric Balchunas suggested that Ethereum ETFs could go live in July. The potential launch follows recent SEC filings and market preparations.

Main regulatory actions

Nigeria knocked down tax charges against Binance executives Nadeem Anjarwalla and Tigran Gambaryan. The government dropped the charges after reviewing the evidence and circumstances.
In a regulatory effort, the Securities and Exchange Commission of Thailand revoked the operating license of cryptocurrency exchange Zipmex, citing regulatory compliance concerns.
Meanwhile, in the US, the Federal Trade Commission warned of crypto romance scams. The FTC has reported an increase in the number of scams in which fraudsters develop romantic relationships to defraud victims of their cryptocurrency holdings.
Additionally, OFAC sanctioned an employee of Polyus, a Russian state gold producer, for money laundering via cryptography. The individual used cryptocurrencies to facilitate money laundering operations.

Increased investments in Blockchain

Last week, Paradigm announced an $850 million fund for early-stage crypto projects. The fund will support startups developing blockchain technology and applications.
Blockchain Startups safe US$109.3 million in large financing rounds.
MicroStrategy revealed plans to buy more Bitcoin with an offer of $500 million in convertible notes. Shortly afterwards, the company increased the offer for US$700 million.
Fire Blocks expanded its connectivity by joining forces with Coinbase International Exchange.
Curling offer for dominance in Asia with a new blockchain fund. The fund is designed to support blockchain projects in the Asian market. Ripple intends to strengthen its presence in the region through this initiative.

Crypto Hits and Runs

OKX Customers it fell victim of a SIM swapping attack. Hackers have hijacked phone numbers to intercept SMS-based 2FA codes and withdraw funds. OKX advised users to adopt app-based authentication methods.
Crypto Scammers personified Binance co-founder Yi He defrauded victims of $210,000. They used fake identities and convincing communications to trick individuals into transferring cryptocurrencies.
Hackers he stole more than US$22 million from the British Lykke exchange. The platform has started an investigation to identify the attackers and is strengthening security protocols.
UwU loan too lost $19.3 million in a hack. Attackers exploited a vulnerability in the platform’s smart contracts. UwU Lend has suspended operations to conduct a security audit and correct the issues.

Innovations and Partnerships

Last week, Nuffle Labs, a spin-off from the NEAR Foundation created US$13 million. The funds will be used to develop blockchain solutions and expand Nuffle Labs’ operational capabilities.
The IOTA Foundation’s Web3 protocol was chosen for the EU Blockchain Sandbox Initiative. This includes IOTA in efforts to provide Web3 solutions for blockchain integration across Europe.
Polygon released a new subsidy program with 1 billion POL. The program supports and finances innovative projects within the Polygon ecosystem.
Polygon also committed 35 million MATIC to support projects developed in its network.

Fuente

Bitcoin

What to watch for in the markets

Published

11 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

11 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

11 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

11 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