[ad_1] Este artículo también está disponible en español. Bitcoin has rebounded strongly from the $65,000 mark after a 6% dip from Monday’s high of around $69,500. Despite the recent pullback, BTC remains in a bullish trend that has been in place since early September. This rebound shows resilience, helping maintain the bullish market structure. Key data from CryptoQuant reveals that the average funding rate has steadily grown since September, indicating that bullish sentiment is increasing as more traders actively engage in the market. Related Reading The coming two weeks will be pivotal for Bitcoin as it approaches March’s all-time high.…
Author: dfrancis36
[ad_1] Follow Aaron on Nostr or X. Earlier this month, the European Central Bank (ECB) published a paper in which the authors claim the existence of Bitcoin could impoverish non-holders and latecomers.Specifically, they wrote:“Since Bitcoin does not increase the productive potential of the economy, the consequences of the assumed continued increase in value are essentially redistributive, i.e. the wealth effects on consumption of early Bitcoin holders can only come at the expense of consumption of the rest of society.”It drew the ire from many bitcoiners, including Frank in his Take… but isn’t this essentially what hyperbitcoinization is? If bitcoin becomes the…
[ad_1] Amid the ongoing Bitcoin price correction after attempting to reclaim $70,000 on Monday, a CryptoQuant analyst known as Mac.D has highlighted key shifts in the asset’s network fundamentals. This key shift in Bitcoin’s network fundamentals includes the rise in Bitcoin’s hashrate, which has surged to an all-time high, marking a significant milestone for the network. According to Mac.D in a recent post on the CryptoQuant QuickTake platform, the rise in BTC hashrate, which measures the computational power miners use, suggests “intensified competition” among miners, driving up the mining difficulty to unprecedented levels. The Signals: Active Addresses And Mining Difficulty…
[ad_1] As the BRICS 2024 summit convenes in Kazan, discussions on cryptocurrency have gained prominence among member nations, aligning with broader strategies to reduce reliance on the US dollar.Russia is developing a settlement and payment infrastructure to bypass Western payment systems, a key element of the de-dollarization efforts expected from the summit. CBDCs Potentially Reduce Dollar DominanceAlthough there has been some progress in de-dollarization, BRICS countries still show a higher level of dollarization than the global average of about 47% for cross-border lending and international debt securities, highlighting the challenges ahead. In response, Russia is advancing its m-Bridge initiative, which…
[ad_1] WHAT WE ARE READING: Funding Bitcoin I recently stumbled upon a fantastic report from 1A1z on “Funding Bitcoin.” I was surprised to learn that Jack Dorsey funds over 60% of Bitcoin Core’s development via different organizations: over $5 million annually, out of a total of only $8.4 million in funding. Wild, right? For a $1.2 trillion asset, I expected way more diverse support.Now, you might be worried that that concentration risks him having too much sway. If he turned against Core’s principles, his funding leverage could be a real concern.But does Dorsey’s power really extend to controlling Bitcoin itself?…
[ad_1] Este artículo también está disponible en español. Crypto analyst MMBT Trader has revealed that the Bitcoin price is retesting a bullish channel at the $65,000 price level. He further mentioned what market participants should expect if the flagship crypto holds above or breaks below this bullish channel. Bitcoin Price Retesting $65,000 And What Could Come Next MMBT Trader mentioned in a TradingView post that the $65,000 support zone is now the major daily support, and market participants can expect a valid retest of the channel breakout. The analyst claimed that if the Bitcoin price holds this support, investors can…
[ad_1] As the 2024 BRICS Summit commences in Kazan, Russia, discussions surrounding cryptocurrency have taken center stage. Lawmakers from Brazil, Russia, India, China, and South Africa are exploring the potential for Russian miners to leverage Bitcoin in international trade, aiming to circumvent the stringent sanctions imposed by the United States. Lawmakers Propose Bitcoin Sales By Russian Miners Originally formed as “BRIC” in 2006 by Brazil, Russia, India, and China, the coalition expanded to include South Africa in 2010, becoming BRICS. This alliance seeks to unite influential developing nations to challenge the dominance of wealthier countries, particularly those in North America…
[ad_1] Este artículo también está disponible en español. Bernstein Research, the esteemed research arm of global asset manager AllianceBernstein, is projecting that Bitcoin will reach $200,000 by the end of 2025. The firm, which manages assets worth $791 billion as of August 2024, labels this prediction as “conservative” in its latest 160-page “Black Book” on Bitcoin. Why BTC Price Will Hit $200,000 In 2025 Bernstein’s report, titled “From Coin to Computing: The Bitcoin Investing Guide,” delves into the multifaceted dynamics propelling Bitcoin’s ascent. The firm underscores the surge in institutional adoption, the burgeoning market for Bitcoin exchange-traded funds (ETFs), and…
[ad_1] According to institutional-grade research firm Bernstein analysts, Bitcoin (BTC) reaching $200,000 by the end of 2025 would be a “conservative” estimate. Bitcoin To $200,000 By 2025 End? Although BTC remains range-bound, just below its all-time high (ATH) of $73,737, analysts at Bernstein believe their current price prediction of $200,000 for the digital asset by the end of 2025 is conservative. In a client note shared today, Bernstein analyst Gautam Chhugani wrote, “Bitcoin is going to $200,000 this cycle,” emphasizing the significance of the asset’s limited supply of 21 million, particularly in light of inflating US debt levels. He added:…
[ad_1] Este artículo también está disponible en español. The recent increase in the appeal of spot Bitcoin exchange-traded funds (ETFs) in the United States has temporarily ceased. Related Reading On Tuesday, these funds underwent a reversal, resulting in net outflows of $79.01 million, following an extraordinary seven-day streak of positive inflows. Farside Investors are the source of this data, a company that specializes in the analysis of ETF flows. A Brief Obstacle The $79 million outflow represents a significant shift in sentiment among investors who had previously demonstrated a strong interest in Bitcoin ETFs. Over the span of two days…