Get started

Bitcoinnews

100,000$ per coin - BTC heading to 4th HalvingBITSTAMP:BTCUSD BINANCE:BTCUSD CME:BTC1! COINBASE:BTCUSD What’s Bitcoin? Bitcoin is a decentralized digital currency that operates on a network of computers, eliminating the need for intermediaries or central authorities. It was introduced in 2009 by an anonymous individual or group known as Satoshi Nakamoto, who outlined the concept in a white paper describing a peer-to-peer electronic cash system. Since then, Bitcoin has emerged as the leading and most valuable cryptocurrency globally, with a market capitalization exceeding $580 billion as of October 2023. A notable characteristic of Bitcoin is its limited supply of 21 million coins, a threshold estimated to be reached around the year 2140. The creation of new bitcoins is regulated through a process called mining, which involves solving complex mathematical problems using specialized hardware and software. Miners compete to discover valid solutions that meet a specific difficulty level, adjusted approximately every two weeks to maintain an average block time of 10 minutes. The miner who successfully finds a valid solution for each block is rewarded with freshly minted bitcoins and transaction fees. As of October 2023, the Bitcoin network has witnessed the mining of 813,378 blocks, with a current reward of 6.25 bitcoins per block. Key Insights on Bitcoin's Price: Recently, the mining of the 19.5 millionth bitcoin increased the circulating supply to 93% of the total. Additionally, a logarithmic regression analysis known as the rainbow chart illustrates the historical path of Bitcoin's price movement. This cyclic behaviour can be attributed to several factors: Bitcoin tends to exhibit an overall bullish trend due to its limited supply and the halving of coins entering circulation approximately every four years. Historically, the Bitcoin halving has been a significant catalyst for price movements as it influences the supply-demand balance. The halving reduces the rate of new bitcoins being introduced into circulation while demand typically remains steady or grows over time. This creates a supply shock that often drives the price upward, particularly before and after the halving event. Each halving period encompasses the mining of 210,000 blocks and exhibits distinct phases. The bullish phase spans from the first block to the 70,000th block, followed by a bearish phase from the 70,001st block to the 140,000th block, and finally a sideways phase from the 140,001st block to the 210,000th block. As previously mentioned, the halving diminishes the inflation rate of bitcoin and preserves its scarcity. Bitcoin holds great influence over the entire cryptocurrency market due to its dominant market capitalization. This dominance follows a cyclical pattern, with the market share falling below 40% during bearish phases (after mining more than 140,000 blocks) and rising to around 70% during bullish phases. During each era (between two halving periods), Bitcoin experiences an average drawdown of 80%. Current Analysis: We are currently in the third halving era, which commenced on May 11th, 2020, specifically within the equilibrium phase. The intersection of the mining of the 210,000th block and the lows of the logarithmic regression suggests a value of $30,000 USD per bitcoin. The next Bitcoin halving is expected to take place in April 2024, at block number 840,000. This event will reduce the block reward from 6.25 bitcoins to 3.125 bitcoins, consequently lowering the annual inflation rate from approximately 1.8% to 0.9%. As a halving typically ushers in a bullish phase, it is predicted that the price of bitcoin will surpass $100,000.00 during this era. Technical Analysis Using the MVRV Indicator: One of the tools that can help investors and traders assess the value and potential of bitcoin is the MVRV ratio, which stands for market value to realized value. The MVRV ratio compares the current market capitalization of bitcoin (the total value of all coins at their current price) with its realized capitalization (the total value of all coins at their last moved price). The MVRV ratio can indicate whether bitcoin is overvalued or undervalued relative to its historical average cost basis. The MVRV ratio can also be used to identify periods of extreme market sentiment, such as euphoria or panic. When the MVRV ratio is very high (above 4), it means that bitcoin is trading far above its realized value, implying that most holders are sitting on large unrealized profits and may be tempted to sell. This can signal a market top or a bubble territory. When the MVRV ratio is very low (below 1), it means that bitcoin is trading far below its realized value, implying that most holders are sitting on large unrealized losses and may be reluctant to sell. This can signal a market bottom or a buying opportunity. As of October 2023, the MVRV ratio of bitcoin is about 2.110, which is slightly above its long-term average of 2. This suggests that bitcoin is fairly valued and not in a danger zone. The MVRV ratio has been trending up since November 9th 2022, when it reached a low of 0.75, indicating a recovery in the market sentiment and the lowest price of the 3rd Halving era. As we are far from the overbought level of 4, this suggests that there is still room for further growth in the price of bitcoin. (These illustrations are just for educational purposes and are not financial advices). Sources: 1. trustwallet.com 2. ieeexplore.ieee.org 3. nber.org 4. buybitcoinworldwide.com 5. bitinfocharts.com 6. nerdwallet.com 7. investopedia.com 8. buybitcoinworldwide.com 9. kitco.com 10. coinwarz.com 11. datawallet.com 12. blockchain.com 13. lookintobitcoin.com 14. bing.com 15. bitcoinmagazine.com 16. stopsaving.com 17. decentrader.com 18. trustwallet.com 19. bitinfocharts.com 20. nber.org 21. buybitcoinworldwide.com 22. cryptonews.com 23. finbold.com 24. inferse.com 25. buybitcoinworldwide.com 26. blockchain.com
BITSTAMP:BTCUSDLong
by Theperfectionist
2
BTC Bitcoin Price Target | Binance vs SEC Lawsuit Binance disputes the SEC's allegations of mishandling customer funds, deceiving investors, and violating securities laws. The legal battle between Binance and the SEC has sent shockwaves through the cryptocurrency community. Binance and its affiliates assert that the SEC is overreaching its jurisdiction on digital assets, especially without any clear legislative guidance from Congress. The original lawsuit, filed in June, accused Binance of unlawfully listing unregistered securities. Historically, the actions of whales have been instrumental in shaping the price movements of Bitcoin and the broader cryptocurrency market. Non-whale addresses, those holding less than 100 BTC, now account for over 41% of the total Bitcoin supply. Meanwhile, whales, entities holding between 100 and 100,000 BTC, have witnessed a decline in their collective holdings to 55.5%, marking their lowest ownership level since May. The decrease in whale holdings could signal a potential change in the market's dynamics, potentially leading to increased volatility and uncertainty. These developments collectively cast a shadow over the cryptocurrency market's near-term prospects. In this context, my price target for BTC Bitcoin is $23700. Looking forward to read your opinion about it!
Short
by TopgOptions
4
Crucial Week Ahead: Interest Rate Decision Looms Over BTCIntroduction: As the world's attention remains fixed on the dynamic realm of cryptocurrencies, this week holds particular significance for Bitcoin and its digital counterparts. The focal point of concern? The forthcoming announcement from the US Federal Reserve (FED) regarding its interest rate decision. Despite last week's revelation of US inflation data surpassing expectations, Bitcoin exhibited remarkable resilience, maintaining a stable trading level of $26,000. Within the broader crypto landscape, the lack of catalysts to propel both Bitcoin and altcoins higher resulted in a lateral trading pattern, with prices hovering between $26,000 and $27,000. Nevertheless, analysts are sounding a note of caution, warning that the FED's impending interest rate decision may exert downward pressure on the prices of risk-associated assets, including cryptocurrencies. US Inflation Data: A Surprising Prelude Last week, the release of US inflation data caught the financial world by surprise. Inflation figures exceeded expectations, typically signaling potential monetary policy adjustments by the FED. However, the response from the cryptocurrency market was intriguing, to say the least. Bitcoin, often regarded as a hedge against inflation and economic uncertainty, exhibited an uncharacteristic calmness. Bitcoin's Steadfast Resilience Amidst the inflationary concerns, Bitcoin managed to maintain its trading range, firmly anchored at the $26,000 level. This stability came as a relief to many crypto investors who were bracing themselves for a turbulent period. The question on everyone's mind is whether Bitcoin can sustain this resilience in the face of an imminent interest rate decision. The Quiet Altcoin Market Bitcoin's tranquility extended to the broader altcoin market, where prices meandered without significant catalysts to prompt substantial price movements. Traders and investors found themselves in a state of anticipation, seeking cues to predict the next direction of the crypto markets. The FED's Interest Rate Decision: A Potential Game-Changer Analysts and crypto enthusiasts are now turning their attention to the impending FED interest rate decision. The FED's actions have a history of sending ripples across the financial landscape, influencing not only traditional markets but also cryptocurrencies. The concern arises from the expectation that a more hawkish stance by the FED, involving interest rate hikes, could spell trouble for risk assets such as cryptocurrencies. The Warning from Analysts Many market analysts are cautioning that the FED's decision may herald a challenging period for Bitcoin and other cryptocurrencies. The potential for rising interest rates could make traditional assets more attractive, diverting funds away from the crypto market. Furthermore, higher rates may dampen investor sentiment, prompting a downward correction in crypto prices. Conclusion: As Bitcoin and cryptocurrencies enter a pivotal week, all eyes are on the US Federal Reserve's interest rate decision. The juxtaposition of a surprisingly high US inflation rate with the crypto market's resilience is a testament to the ever-evolving dynamics of the digital asset space. While Bitcoin has proven itself as a store of value in times of economic uncertainty, it remains to be seen whether it can weather the storm of rising interest rates. In the coming days, market participants will closely monitor the FED's decision, knowing that it could either propel cryptocurrencies to new heights or trigger a period of retrenchment. The crypto landscape remains as fascinating and unpredictable as ever, and this week promises to be a pivotal chapter in its ongoing narrative.
BITSTAMP:BTCUSD
by CryptoSnagger
A new lost decade of stagflation is comingYou better get used to working hard, because the days of easy magic fairy dust money are long gone after 40 years of mania. The following scenario is going to make wallstreet very angry and I'm sure a lot of retail investors are going to be forced to give up and start working longer hours to adapt to an expensive already inflated life that just won't lower prices anymore, while at the same time, record high interest rates have already made it much harder for everyone to access bank loans and 0% credit cards. From Japanese herbivore men to Western Men Going Their Own Way, Japan during the 80s and 90s is the textbook play for the world to follow. What is usually known as "depevelopment" is actually a 4th stage of population growth/flattening that will surely lead to a global ageing population or demographic and pension crisis in the coming years and decades. So technically, there won't be any great depression like 1929, and there won't be any hyperinflation either (except for a few failed states in Latinamerica of course), A recession is not as boring and as predictable, as an eternally long stagflation, which is the most hated but necessary scenario to push foward out of so much debt.
TVC:GOLD
by axelrodd
1