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Bitcoin News
Bitcoinist
2w
65
Image Credit: Bitcoinist
Bitcoin Leads Crypto Investment Product Inflows With $920 Million Added Last Week – Report
- Crypto-based investment products recorded nearly $1 billion in inflows last week, led by Bitcoin.
- Bitcoin products saw $920 million in inflows, making it the fourth largest month of inflows on record.
- Solana-based products also saw significant inflows, while Ethereum products experienced outflows.
- The positive net flows were influenced by the upcoming US Presidential elections, with Bitcoin's performance tied to US politics.
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TheNewsCrypto
2w
421
Image Credit: TheNewsCrypto
Analysts Forecast Bitcoin’s Potential Drop to $50,000 Before New All Time High
- Bitcoin price is characterized by significant volatility and an inability to reach a new all-time high despite the recent halving event.
- Experts are closely watching Bitcoin’s performance, predicting that a short-term decline may be on the horizon.
- A recent report from Bitfinex suggests that analysts are forecasting a possible drop in Bitcoin’s price to the range of $40,000 to $50,000.
- Analysts caution that a 15-20 percent decline could occur when interest rates are adjusted this month, with Bitcoin potentially bottoming out between $40,000 and $50,000.
- Over the past five months, Bitcoin’s price has been forming a right-angled descending broadening wedge, a reversal pattern that is generally considered bullish.
- Bitcoin might bounce back from the $56,000 level, possibly initiating a gradual recovery to $59,000.
- While the current outlook may seem pessimistic, it’s important to note that such predictions are not set in stone.
- September has traditionally been a sluggish month for Bitcoin, with prices often stagnating or declining as market activity slows down.
- However, as the calendar turns to October and November, the market tends to shift gears.
- This cyclical pattern suggests that while September may bring short-term challenges, it could set the stage for a robust bull run in the final months of the year.
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Coinpedia
2w
295
Image Credit: Coinpedia
Bitcoin Price Prediction: With $71,000 Under Their Belt, Bulls Set Sights on New ATHs
- Analysts are optimistic about Bitcoin, pointing out that it continues to show strong signals for a bull market.
- Bitcoin's trajectory appears bullish, while other cryptocurrencies are showing mixed signals.
- Critical resistance levels to watch for Bitcoin are around $69,200, $70,000, and $72,000.
- Bitcoin's RSI breaking a significant descending resistance line indicates potential for major bull runs.
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TheNewsCrypto
2w
195
Image Credit: TheNewsCrypto
Bitcoin Breaks Multiple Resistance as Price Rallies Past $70K
- Bitcoin price has increased by 4.70% in the last 24 hours.
- Bitcoin's daily trading volume has surged by 148.49%.
- Bitcoin broke out of a rising wedge pattern and is experiencing bullish movements.
- There are predictions of Bitcoin surpassing its current all-time high and influencing the altcoin sector.
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Coinpedia
2w
91
Image Credit: Coinpedia
Why Bitcoin Price is Up Today? Will October’s Bullish Momentum Continue?
- Bitcoin price has rallied 5% in the past 24 hours, reaching above $71k for the first time since June this year.
- The surge in Bitcoin's price also led to a 3% increase in the total market cap of cryptocurrencies.
- The rally is fueled by high demand from whale investors and bullish sentiment.
- Technical analysis suggests Bitcoin could aim for $94k in the near term.
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Bitcoinist
2w
52
Image Credit: Bitcoinist
Peter Thiel-Backed Exchange Bitpanda Moves Closer To IPO Anticipating Massive 2024 Profits
- Vienna-based crypto trading platform Bitpanda is considering a potential IPO in Frankfurt, which could value the company at $4 billion or more.
- The company is in discussions with financial institutions like Citigroup and JPMorgan Chase regarding the IPO.
- Bitpanda expects record profits in 2024 after generating €100 million in revenue in Q1 2024.
- The company aims to enhance its offerings by providing Deutsche Bank IBANs for clients in Germany.
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Cryptonews
2w
178
Image Credit: Cryptonews
MicroStrategy Stock Reaches New Peak as Bitcoin Climbs to $69,000, Market Cap Nears $50 Billion
- MicroStrategy's stock, MSTR, has grown nearly 300% in the past year, outpacing Bitcoin's performance.
- MicroStrategy now owns over 250,000 BTC, worth approximately $17 billion.
- MicroStrategy's market cap has surpassed $50 billion, with its stock reaching the highest price in over 20 years.
- Japanese investment firm, Metaplanet, is also accumulating Bitcoin, holding over 1,000 BTC valued at around AUD $106 million.
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Bitcoinist
2w
377
Image Credit: Bitcoinist
Hong Kong Makes History With Asia’s 1st EU-Regulated Crypto Index Launch
- The Hong Kong Stock Exchange (HKEX) is set to introduce a pioneering index in Asia for cryptocurrencies.
- The HKEX Virtual Asset Index Series, launching on November 15th, will cover Bitcoin and Ethereum and will be the first EU-regulated crypto index in the region.
- The index will provide transparent and reliable real-time benchmark prices for Bitcoin and Ethereum based on a 24-hour volume-weighted benchmark spot price.
- This initiative strengthens Hong Kong's position as a financial hub and integrates cryptocurrencies into the broader stock market.
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Medium
2w
21
Image Credit: Medium
Think AI in Crypto Trading Is Overhyped? My Real Experience Will Surprise You
- AI in trading has become a buzzword, leading to skepticism about its real impact on wealth creation for crypto investors.
- AI trading promises to analyze vast amounts of data at speeds humans cannot match for making decisions based on historical price movements, real-time trends, and social sentiment to predict market movements more accurately.
- The author initially avoided AI believing it would strip away the human judgment and relied on intuition and research-based strategies. Furthermore, licenses, output costs, and the learning curve also deterred the author from AI.
- Early use of AI-based strategies resulted in losses, leading the author to realize that even AI requires time, tweaking, and the ability to learn from its mistakes.
- The author had an 'aha' moment when the AI system outperformed the author’s instincts and judgment in turbulent market conditions.
- AI systems reflect successes and failure. High volatility trades and data-driven decisions produced positive results. On the other hand, over-reliance on AI and algorithm adjustments can result in significant losses.
- The key to using AI in crypto trade is to combine AI predictions and human judgment, regularly update the algorithm to match the market trend, and that AI requires time, patience, and careful monitoring.
- AI technology is evolving to include more sophisticated algorithms and real-time analytics that also factor in external variables such as news and geopolitical shifts.
- Conclusively, AI is not a 'get-rich-quick' solution, and it has its limitations, but it holds immense potential when used thoughtfully to analyze data more efficiently and spot advantageous patterns.
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Bitcoinsensus
2w
121
Image Credit: Bitcoinsensus
Economic Struggles Drive 24% Surge in Brazil’s Crypto Market
- Brazil's cryptocurrency adoption has surged by 24% compared to the previous year.
- The weakening Real and high inflation rates drive Brazilians towards stablecoins and other cryptocurrencies.
- Institutional investors like BTG Pactual are significantly contributing to the growing crypto market.
- Crypto adoption in Brazil is fueled by economic struggles and the need for protection from inflation.
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Hackernoon
2w
152
Image Credit: Hackernoon
Trump or Harris: Does It Matter for Bitcoin?
- The outcome of the U.S. elections may or may not have a material impact on financial market dynamics, including crypto.
- Data for traditional financial markets does not show a clear correlation between a Republican or a Democrat presidency and market performance.
- Regulation issues, particularly regarding the SEC's stance on crypto, may be more influential for the crypto market than the presidential election.
- While Trump has been perceived as more crypto-friendly, the long-term positive catalyst for crypto will likely be the beginning of the rate-cut cycle in major economies.
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Crypto-News-Flash
2w
130
Image Credit: Crypto-News-Flash
Trump’s Crypto Project Prepares for U.S. Dollar Stablecoin Debut – Report
- World Liberty Financial plans to introduce a U.S. dollar-backed stablecoin in Trump's crypto project.
- The stablecoin aims to compete with industry giants like Tether and USDC.
- Rich Teo, co-founder of Paxos, joined World Liberty to lead the stablecoin and payments divisions.
- The success of the stablecoin project could potentially influence Bitcoin's price.
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Cryptonews
2w
273
Image Credit: Cryptonews
The Biggest Trade I’ve Seen! Bitcoin’s $72K Resistance in Sight!
- A member of the Empire community secured a massive 5000% profit on NEIRO/USDT trade.
- Bitcoin is on track for a potentially bullish week, with strong support at the weekly close and a potential breakout above $70,000 resistance.
- Altcoins experienced a sharp drop, with some coins like FTM, RUNE, and PEPE falling by as much as 15%.
- Altcoins tend to drop harder and faster than Bitcoin when Bitcoin faces resistance, due to traders shifting funds into Bitcoin.
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Bitcoinist
2w
347
Image Credit: Bitcoinist
Bitcoin Coinbase Premium Falls To Record Lows, Potential Price Drop Imminent?
- The Coinbase premium index for Bitcoin has hit record lows, indicating a potential price drop.
- The Coinbase premium measures BTC's price differences on Coinbase and other exchanges.
- The drop in the premium suggests waning demand from retail investors in the United States.
- This decline in the indicator could influence Bitcoin's short-term price movement.
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Newsbtc
2w
56
Are ‘ETF Paper Bitcoins’ Suppressing BTC Prices? Analyst Provides Answers
- Fred Krueger, an investor at the crypto hedge fund 2718.fund, aimed to dispel the fear, uncertainty, and doubt (FUD) that have been circulating about “paper Bitcoin”—the notion that ETFs might be selling Bitcoin they do not actually possess—and to explain why Bitcoin’s price has not surged as dramatically as some might expect, despite significant ETF purchases.
- Krueger emphasized the stringent regulatory oversight governing these entities. “Both of these ETFs are subject to very strict regulatory oversight, including the SEC but also other agencies in the US,” he stated. This comprehensive oversight includes requirements for complete transparency, regular audits, and the use of third-party custodians for asset verification.
- Addressing the core concern about ETFs holding “paper Bitcoin,” Krueger provided specific data to refute this notion. “The reality is the ETFs have zero pure paper Bitcoin,” he stated unequivocally.
- Turning to the question of why Bitcoin’s price has not increased more dramatically despite significant ETF inflows, Krueger offered a nuanced explanation. He noted that Bitcoin is, in fact, up by 60% since the introduction of the ETFs, translating to a $600 billion increase in market capitalization.
- Krueger attributed the moderation in Bitcoin’s price growth to substantial selling pressures from various sources. “There’s been a bunch of selling,” he explained.
- Additionally, FTX sold its GBTC (Grayscale Bitcoin Trust) stake earlier in the year, and the Digital Currency Group (DCG) sold assets to resolve lawsuits. “We had a lot of selling,” Krueger summarized.
- Krueger contrasted BlackRock with entities like QuadrigaCX to underscore the disparity in regulatory compliance and operational scale. “BlackRock is highly regulated […] BlackRock has a robust corporate governance structure with committees for audit, risk, and compliance and very extensive internal controls,” Krueger added.
- Krueger acknowledged that some skeptics have attempted to analyze Bitcoin movement between specific dates to challenge these holdings. However, he emphasized that the facts are clear and verifiable.
- Krueger suggested that Bitcoin’s price could have been significantly higher. “We probably would be at $90k if there wasn’t any selling,” he posited.
- At press time, BTC traded at $68,752.
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