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Is $100,000 Bitcoin Possible? Analyst Breaks Down Major Catalysts

Crypto analyst Axel Bitblaze examines whether the necessary liquidity and catalysts are in place to propel Bitcoin to $100,000, emphasizing the fundamental role of liquidity in the crypto market.
Stablecoins comprise a cornerstone of the analysis, with the total market capitalization of stablecoins surging to $173 billion, reaching its highest level since the collapse of TerraUSD.
FASB rule change is another significant factor as under the new guidelines, public companies will be able to report the fair value of their Bitcoin holdings based on market prices at the end of the reporting period.
Bitblaze suggests that the upcoming FASB rule change could incentivize more corporations to adopt Bitcoin as part of their balance sheets, as it presents itself as an attractive inflation-resistant alternative.
Expanding M2 money supply is also a significant catalyst that can propel Bitcoin's price higher. 'For every 10% increase in M2 money supply, BTC pumps 90%,' says Bitblaze.
Since Nov 2021, money market funds have grown to $6.5 trillion, but with the Fed initiating rate cuts and more to come, investors are expected to seek higher returns in riskier assets such as Bitcoin and other cryptocurrencies.
Bitblaze aggregates the available liquidity sources to quantify the potential inflow, which brings the total to approximately $103.17 trillion, 43 times the current total crypto market capitalization.
Bitblaze concludes by saying 'For a $200 Billion inflow, only 0.19% of this account needed to enter crypto. For those who think this isn’t possible and 200B is too much, BTC ETFs had over $20B in net inflows despite sideways price action, no rate cuts, and no QE.'
At press time, BTC traded at $66,944.
The surge in the price of Bitcoin is likely to be fueled by an increasing level of liquidity, led by growing demand for stablecoins.
Crypto analyst Axel Bitblaze cites four essential factors, including stablecoins, FASB rule change, expanding M2 money supply and shift from money market funds to Bitcoin that can propel Bitcoin to such heights.

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Bitcoinchaser

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The Best Crypto Casinos to Play Double Ball Roulette

Double Ball Roulette is an exciting variation of European Roulette, which uses two balls and effectively doubles the thrill and adds more ways to win.
Top Crypto Casinos for Double Ball Roulette include Stake, Gambat casino, mBit, BitStarz, and more.
The goal of Double Ball Roulette is to predict which pockets the two balls will land in and you can place various bets including inside and outside bets.
The Return to Player rate (RTP) for Double Ball Roulette is 97.3%, which is in line with traditional European Roulette.
You can win a massive payout of 1,300 to 1 if both balls land on your selected number in Double Ball Roulette.
Cryptocurrencies provide a level of privacy that traditional currencies can’t match and many casinos have great crypto bonuses and promotions.
To start playing Double Ball Roulette at a crypto casino, choose a site, create an account, deposit, claim a welcome bonus, and play the game.
Some tips for playing Double Ball Roulette include sticking to inside bets, avoiding progressive betting systems, and managing your bankroll wisely.
Double Ball Roulette is one of the most fun and exciting versions of roulette out there and playing with crypto adds more benefits like security, privacy, and those juicy crypto bonuses.
Explore live evolution games like Dead or Alive: Saloon, Lightning Roulette, and Balloon Race Live.

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Bitcoinist

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Bitcoin Exchange Exodus: Investors Withdrew $24 Billion In BTC Over Last 8 Months

Bitcoin exchanges have experienced a significant outflow of BTC over the past eight months.
The Exchange Reserve, which tracks the total number of BTC in exchange wallets, has decreased by 400,000 BTC.
This trend indicates a potential shift towards long-term holding and accumulation of BTC by investors.
The decline in Exchange Reserve coincides with the approval of spot exchange-traded funds (ETFs) by the SEC.

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Zycrypto

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Pundit Targets $170,000 for BTC Price, Drawing on Fibonacci Analysis and Historical Success

Crypto analyst Egrag Crypto predicts a target of $170,000 for BTC based on Fibonacci retracement levels and historical market trends.
Egrag Crypto is optimistic about Bitcoin's near-term prospects, emphasizing the importance of staying above the 21 EMA indicator.
A significant uptick in Bitcoin whale transactions suggests growing interest in the asset, despite discussions dominating social media.
Caution remains as veteran analyst Peter Brandt warns of resistance at $68,224, which could determine BTC's next move.

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Cryptopotato

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Crypto Fear and Greed Index Surges to 3-Month High as BTC Rallies 14% Weekly

The Fear and Greed Index, which depicts market sentiment, has surged to a 3-month high as Bitcoin (BTC) rallies 14% weekly.
Investors have become greedy as Bitcoin surpasses $60,000, with the Fear and Greed Index reaching a value of 71, indicating greed in the market.
The index had been in the fear zone but turned neutral on Monday, and has now entered the greed zone as Bitcoin climbed to $68,000.
Factors like rising demand and anticipation of the second leg of the bull cycle suggest that Bitcoin may not experience a significant correction despite the high greed sentiment.

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Altcoinbuzz

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Italy to Impose Huge Tax Hike on Bitcoin and Other Cryptos

Italy plans to increase capital gains tax on crypto from 26% to 42% to boost revenue.
The tax increase is part of Italy's 2025 budget plans and aims to support businesses and young families.
Italian taxpayers must declare their crypto holdings and report gains in specific tax forms.
The tax hike has received negative reactions, with concerns about potential impact on crypto users and trading volumes.

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Altcoinbuzz

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How Many SUI Tokens Can Make You A Crypto Millionaire?

Sui has seen a 126% price increase over the past 30 days and has become the 19th largest cryptocurrency by market cap.
It has also increased its TVL in DeFi to over $1 billion and has nine TVL among all chains.
Sui's number of daily active users (DAU) is up by 300%, and it has all the makings to be the 'Solana' of the 2021 bull run.
Its current resistance sits at $2.35, its all-time high, and it may break through this for good very soon.
$SUI has outperformed $BTC by over 220% since early August and has been doing quite impressively.
At the current price of $2, one would need 500,000 $SUI to make $1 million, but with an expected 10x increase in the future, 50,000 $SUI could suffice.
The $SUI token dipped 15% on 4th October, but it's still a good investment, given Sui's growth potential.
The article concludes by stating that the information discussed is not financial advice and that investments in Bitcoin and other cryptocurrencies are high-risk investments.

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Bitcoinik

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Pro-Bitcoin Candidate Donald Trump Leads with 61% Odds, Surpassing Kamala Harris in US Presidential Race

Donald Trump is leading with 61.5% odds against Kamala Harris in the US presidential race.
Trump's support for the crypto sector is thought to be a factor in his increasing odds.
Trump-inspired meme tokens, such as MAGA Hat, saw significant price increases.
With three weeks left until the election, it remains to be seen how the race will unfold.

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Bitcoinist

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Crypto Tax Hike? Italy Mulls Raising Capital Gains Tax On Bitcoin To 42%

Italy is considering raising the capital gains tax on Bitcoin and other crypto assets from 26% to 42%.
The proposed tax hike is part of Italy's new budget bill aiming to generate resources for youth, businesses, and families.
Italy plans to curtail cash usage to tackle money-laundering and tax evasion.
Several European countries have introduced strict cryptocurrency regulations to combat the misuse of digital assets for illegal activities.

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Bitcoinsensus

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Missed Appeal Deadline Threatens SEC’s Case Against Ripple?

The SEC had 14 days to file an appeal from October 2
On Oct. 16, the SEC failed to file Forms C and D with key claims
Some believe this may reduce the SEC’s chances of success against Ripple
However, the SEC like other federal agencies often gets flexibility in these matters

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Hackernoon

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Michael Saylor Wants To Turn MicroStrategy Into a Trillion-Dollar Bitcoin Bank

Michael Saylor, founder of MicroStrategy, a Business Intelligence company, is in the process of turning it into a trillion-dollar Bitcoin bank by following the same playbook as the banking families at the inception of their legacies.
He is buying Bitcoin using debt, attracting investors, and making dazzling speeches aiming to make MSTR the biggest corporate BTC reserve on earth.
MSTR is outperforming its base asset, BTC, indicating the acquisition strategy is working.
Bitcoin is a unique asset, both a super hard asset and a big digital narrative. Bitcoin's growth values are aligned with stories sold by Saylor to billions.
If the Bank of MSTR loans Bitcoins to people and governments, they might be more compelled to play nicely since they cannot influence its trade routes.
Digital intelligence companies such as Google and Microsoft could leverage digital capital better. MSTR might be a takeover target.
The AI community's stuckness with fiat currency might provide the humans some time to form very tight bonds with their digital capital.
Saylor is banking on the exponential growth of Bitcoin, which could eventually make it a trillion-dollar asset.
Only time will tell if the Bank of MSTR can hold first place in the marathon with the big players also getting into the game.
While Saylor continues to put all his eggs in the Bitcoin basket, many experts disagree, but the numbers seem to agree with him thus far.

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Altcoinbuzz

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NiceHash Unveils ASIC Firmware for Kaspa with 20% Boost

NiceHash has released its first-ever firmware for mining on Kaspa network. This firmware increases ASIC's performance by 20%.
Kaspa is a low-energy network that uses exclusive GhostDAG protocol to improve scalability, allowing many blocks to exist on the blockchain.
NiceHash's new firmware raises hash speed and lowers power consumption, leading to efficient machines.
The firmware has intelligent thermal protection, which keeps ASICs from experiencing high temperatures which are capable of ruining the equipment.
The Cracker Card hardware add-on connectable to CVITech control boards makes it simple to install the NiceHash firmware over the air in large mining operations.
The pricing is fair and depends on how much the author has decided to overclock a machine. NiceHash pool is the only compatible pool with this firmware.
This firmware will be beneficial to anyone mining on the Kaspa network, with improvements in performance and energy usage potential.
The firmware is available for Antminer KS series: KS5 Pro, KS5, KS3—9.4 TH, and KS3—8.3 TH models.
NiceHash is getting ready to provide Kaspa miners with comprehensive guides and other essential assistance.
The Kaspa-specific firmware is good news for small and large miners for up to 20% better performance, increased efficiency, and added thermal protection.

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Bitcoinist

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5 Years In Prison? US Prosecutors Crack Down On Bitfinex Hack Mastermind

The man behind the Bitfinex hack could face five years in prison.
Around $8 billion worth of Bitcoin was stolen from the exchange.
The case could have implications for cybersecurity and accountability in the cryptocurrency industry.
The hack prompted regulatory scrutiny and calls for improved security measures.

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Altcoinbuzz

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Ireland Races to Draft Crypto Laws Before EU Rules Hit

Ireland is racing to draft new crypto laws before EU rules go into effect on December 30.
The upcoming EU regulations aim to strengthen anti-money laundering and counter-terrorism financing standards for cryptocurrency transactions.
Ireland, home to major crypto companies like Gemini, Ripple, and Coinbase, aims to align its laws with the new EU rules.
The country sees these regulations as crucial for staying ahead in the rapidly evolving world of crypto.

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