Category Archives: Bitcoin

When Will Bitcoins Correction End? Bulls Unsuccessful at Pushing $68K (Bitcoin Price Analysis) – CryptoPotato

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When Will Bitcoins Correction End? Bulls Unsuccessful at Pushing $68K (Bitcoin Price Analysis) - CryptoPotato

Could Bitcoin climb to more than $1 million before 2030? Cathie Wood says yes. – USA TODAY

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Could Bitcoin climb to more than $1 million before 2030? Cathie Wood says yes. - USA TODAY

Bitcoin maxis are about to kick off the altseason as BTC turns institutional – Cointelegraph

The arrival of exchange-traded funds (ETFs) for spot Bitcoin (BTC) has changed everything, but not just for institutions. It created a polarized market for retail crypto investors, and were about to see a major rebalancing as a result.

On one hand, we have mom-and-pop investors who are now getting exposure to Bitcoin via their advisers investing in spot BTC ETFs for the first time ever. Its only a matter of time until Bitcoin becomes as common in these household portfolios as gold. On the other hand, though, we have the OGs of the crypto market those that have been around since the early days and fully subscribe to the ethos of Web3. They invest in Bitcoin because of its decentralization and censorship resistance. But now that every man and his dog are adding Bitcoin to their portfolios, theyve lost their first-mover advantage and they're about to revolt.

From the point of view of an early Bitcoin investor, the world's biggest crypto asset has, indeed, strayed far from its original purpose to replace the existing broken payments system. Inadvertently, it has now become part of the very system it was designed to subvert. It would be a little like discovering a hidden gem of a restaurant, only to see it explode in popularity and be taken over by a large corporation. The quality would drop, the original purpose be all but forgotten, and youd struggle to get a seat at the table.

Related: Bitcoin just hit a record in open interest expect imminent volatility

Its not just about the purpose of Bitcoin, though. As more and more buyers vie for an increasingly limited supply of this finite asset, Bitcoins price will soar, but itll be the big boys that benefit, as even the 25 basis points they earn for managing the BTC spot ETFs will bring in billions. Sure, the crypto-savvy retail buyers will still be able to get their hands on Bitcoin directly via crypto exchanges, but giving up most of the profits to the worlds biggest asset managers isnt what Web3 has ever been about.

So we are witnessing a polarization of the crypto market into the mom-and-pop investors willing to pay the ticket price to ride the Bitcoin train, and those that are used to getting this ride for free. These latter investors wont stick around to see if the ride is worth the fee, they will simply go elsewhere a part of the market that remains true to the ethos of crypto and offers intermediary-free access to the world of blockchain.

This will be the catalyst for the much-anticipated altcoin season. The Bitcoin maxis diversifying their portfolios, the crypto OGs looking for bigger and better returns as Bitcoin becomes mainstream, and the true believers in cryptos decentralized dream.

So far, altcoins have lagged Bitcoin in terms of performance, as is common during this part of the cycle. But were beginning to see signs of a reversal. Over the last 10 weeks or so, Ethereum (ETH) has been posting higher highs and higher lows against Bitcoin, meaning we could be in for a breakout sometime in the coming weeks. When this happens, altcoins will follow as they always do and it will be the Bitcoin investors seeking alternatives that drive this transition.

In fact, the more institutions dive into Bitcoin and the more traditional investors add it to their portfolios, the more polarized the crypto retail market will become. And amid this re-allocation of assets into altcoins, we will see several of them rise into the too-big-to-fail ranks that have, until now, really only been the realm of Bitcoin. This cycle will be a decisive one in sorting the wheat from the chaff and determining which alts will live to see another bull market.

Related: Curb your enthusiasm crypto prices aren't going to move as quickly as you think

Thats not to say that every crypto-savvy retail investor will flee Bitcoin entirely. After all, altcoin investing requires a relatively strong stomach. For most, Bitcoin will become the balancer the reliable and less volatile core in their portfolios that provides the buffer for higher-risk investments. But as the Bitcoin behemoth grows, we can expect the asset to lose some of its most dedicated OGs, as they head off in search of more decentralized alternatives and bigger gains.

However this rebalancing plays out, one thing is clear: the institutions will profit either way. Even a major retail exodus will have very little impact on BTCs price direction now the scarcity, growing demand, and billions of institutional inflows will take care of that.

It will, however, have a profound effect on the future of the decentralized finance (DeFi) market. With only just over $100 billion in total value locked (TVL) to date against Bitcoins growing $1.4 trillion market cap even a relatively insignificant rotation into altcoins could have a major impact on DeFis growth. If Bitcoin maxis turn to altcoins with the same fervor they've dedicated to BTC since launch, were about to see some explosive growth in altcoins. Whichever side of the camp you find yourself on, get ready for an exciting summer.

Lucas Kiely is a guest author and the chief investment officer for Yield App, where he oversees investment portfolio allocations and leads the expansion of a diversified investment product range. He was previously the chief investment officer at Diginex Asset Management, and a senior trader and managing director at Credit Suisse in Hong Kong, where he managed QIS and Structured Derivatives trading. He was also the head of exotic derivatives at UBS in Australia.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Bitcoin maxis are about to kick off the altseason as BTC turns institutional - Cointelegraph

Bitcoin investment products see another record $2.9B inflow – Cointelegraph

United States spot Bitcoininvestment products had another record weekly inflow, with $2.9 billion in new assets added.

According to a March 18 report by digital asset investment company CoinShares, a total of $13.2 billion in new capital has flowed into investment products such as spot Bitcoin exchange-traded funds (ETFs) year-to-date, with $74.61 billion worth of Bitcoin (BTC) now under custody. Bitcoin products accounted for 97% of the total inflows. Digital asset investment products saw record weekly inflows totaling US$2.9bn, beating the prior weeks all-time record of US$2.7bn, wrote CoinShares analyst James Butterfill.

Interestingly, Ether (ETH) and other altcoin investment products have not been as popular with investors, with their year-to-date inflows combined amounting to a tiny fraction of the total that has gone into Bitcoin. Furthermore, despite an all-time high ETF inflow, the price of Bitcoin has tumbled by 7% in the past week and now trades at $67,418 at the time of publication.

Outside of the U.S., crypto exchange products have seen record outflows, with investors pulling $738 million from Bitcoin exchange-traded products on German, Canadian and Swedish exchanges and, in part, switching them for their U.S. counterparts. Compared to management fees of upward of 1% per annum, U.S. Bitcoin ETFs charge as little as 0%on a portion of their inflows. Since their approval by the Securities and Exchange Commission in January, U.S. Bitcoin ETFs have captured more than 80% of the spot Bitcoin ETF market share.

The popularity of Bitcoin ETFs has led regulators such as the United Kingdoms Financial Conduct Authority (FCA) and Hong Kongs Securities and Futures Commission (SFC) to soften their stance on such products. On March 11, the FCA said it would not object to requests from Recognised Investment Exchanges (RIEs) to create a U.K. listed market segment for cryptoasset-backed Exchange Traded Notes. Similarly, Hong Kongs SFC received its first spot Bitcoin ETF application on Jan. 29.

Related:Vanguards outgoing CEO sticks to anti-Bitcoin ETF stance, despite inquiries

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Bitcoin investment products see another record $2.9B inflow - Cointelegraph

Bitcoin and ether fall as investors press pause on rally – CNBC

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CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew O'Neill, managing director and co-chair of S&P Global's Digital Assets Research Lab, explains the significance of Ethereum's Dencun upgrade and the impact of the upcoming bitcoin halving event on miners.

11:45

Thu, Mar 14 20243:00 PM EDT

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Bitcoin and ether fall as investors press pause on rally - CNBC

Fintech Fuels 105% Growth With Bitcoin Boost. Savvy Funds Want In. – Investor’s Business Daily

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Fintech Fuels 105% Growth With Bitcoin Boost. Savvy Funds Want In. - Investor's Business Daily

The history of bitcoin halvings and why this time might look different – Blockworks

Historically, every Bitcoin halving a disinflationary mechanism inscribed in the currencys code by Satoshi Nakamoto has come a year or two before a new all-time high.

This is partly because a halving cuts the block reward paid to miners in half, reducing the number of new bitcoin being created and theoretically making bitcoin more scarce.

For example, with the latest halving to come, the block reward will fall from 6.25 bitcoin (BTC) to 3.125 BTC.

The three previous Bitcoin halvings occurred in the run-up to an all-time high, which then gave way to a price drawdown until the next halving helped ignite another rally, according to some market observers.

Read more: The next bitcoin halving is coming. Heres what you need to know.

But the upcoming halving has broken that trend. For the first time in its history, bitcoin set an all-time price high in the immediate run-up to the halving when it topped $70,000 this month.

Blockworks examined how bitcoins price responded to prior halvings. Heres what we found.

Nearly four years after Bitcoins genesis block was mined, the network underwent its first halving.

Bitcoins nascent community was unsure whether the supply slow-down would drive prices up, or if the halving was already priced in, as a then-teenaged Vitalik Buterin laid out in Bitcoin Magazine at the time. Bitcoiners gathered at meet-ups around the globe to ring in the halving.

Bitcoin, which had been trading for around $12 in the lead-up to the first halving in November 2012, jumped to $229 by April 2013, then climbed to roughly $1,132 by the following November, according to TradingView.

In the wake of the collapse of the Japan-based exchange Mt Gox, bitcoins price would toil away in the hundreds of dollars range for the next three years.

By 2016, a host of new cryptocurrencies had cropped up. Shortly after the second halving, Ethereum would undergo a hard fork in the wake of the catastrophic DAO hack.

Bitcoiners remained split on how the second halving would affect bitcoins price. Right now, Im disappointed, a user wrote on the BitcoinTalk forum a few hours before the block reward was cut in half.

Read more: How the halving could impact bitcoins price

Bitcoins price gradually rose for a few months after the second halving before picking up momentum in May 2017. By December 2017, bitcoin hit a new high of roughly $19,188, a market event that came a year and a half after the halving.

By the third halving, bitcoin was more than a decade old and had become more of a known commodity.

Hey guys I think bitcoin is halving today, not sure if youve heard, a new crypto exchange founder named Sam Bankman-Fried tweeted. The markets publication of TD Ameritrade published a piece wondering whether the halving was already priced in.

Once again, it wasnt.

Bitcoins price rose from around $8,500 at the May 2020 halving to over $40,000 by January 2021. Bitcoin topped $63,000 in April before peaking above $67,000 in November 2021, nine years after the first halving.

It seems like a fools errand to question whether the next bitcoin halving will lead to a price run at this point, but the circumstances are noticeably different this time around.

When the decade-long fight for the Securities and Exchange Commissions approval on spot bitcoin ETFs resolved in January, bitcoin embarked on an ongoing bull run to an all-time high above $73,000.

This is uncharted territory for halvings, which previously came with bitcoins price far below its prior peak.

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The history of bitcoin halvings and why this time might look different - Blockworks

Bitcoin price: Standard Chartered says $150000 level in 2024 ‘now looks likely’ By Investing.com – Investing.com

price has continued to move higher in March, which is in line with historical trends heading into the much-anticipated halving event.

BTC price recently surged to over $73,000 correcting to below $65,000 on profit taking. At the time of writing, Bitcoin price exchanged hands at around $67,500.

A year-to-date increase stands at more than 60% while the 12-month jump has exceeded 150%.

Bitcoins price recovery to previous ATH seems to be faster than previous cycles. Bitcoins price is above the previous ATH already, suggesting this cycle may be different and making a significant correction likely, Menno Martens, Crypto Specialist and Product Manager at VanEck, said to Investing.com.

The recent surge in Bitcoin price is partly driven by the growing demand for spot Bitcoin Exchange Traded Funds (ETFs), offering investors a less risky way to engage with cryptocurrency.

These ETFs have seen a significant influx of investment, drawing attention for their potential in portfolio diversification. Spot Bitcoin ETFs differ from regular Bitcoin ETFs by allowing direct exposure to Bitcoin itself, rather than futures contracts.

Managed by firms that issue shares of their Bitcoin holdings, these ETFs provide a bridge for traditional investors to enter the cryptocurrency space by purchasing shares on conventional stock exchanges, bypassing the need to directly hold or manage the cryptocurrency.

Another reason why Bitcoin prices are rallying is related to the upcoming halving event. A Bitcoin halving is an event where the reward for mining Bitcoin transactions is cut by 50%, happening roughly every four years.

This mechanism progressively decreases the speed at which new bitcoins are created and introduced into the market, aiming to halt the production of new bitcoins by around the year 2140.

Historically, Bitcoin halving events, which occur approximately every four years, have led to an increase in price, Yuya Takemura, Founder of Axys Holding, told Investing.com.

The next halving in 2024 may follow this trend, possibly causing a significant price increase in 2025.

Speaking about other factors that are helping Bitcoin price to rally, Takemura also highlighted increased participation by Generation Z, and the adoption of blockchain technology by governments and major financial institutions.

While Takemura acknowledges recent analyst projections that Bitcoin price could , he also warned about market's volatility and susceptibility to global economic conditions.

Investing.com recently wrote about JMP Securities saying Bitcoin price could hit over the next three years as ETF inflows accelerate.

We estimate that after ~$10B in flows to date, two months into launch, flows will actually continue to grow materially from here over the next few years as the ETF approval is just the beginning of a longer process of capital allocation, said JMP.

Today, British brokerage firm Standard Chartered (OTC:) came out with its own forecast. According to their analysts, the $150,000 level now looks likely. Hence, the bank raised its price target on Bitcoin to $150,000 from $100,000 to reflect the more rapid pass-through from ETF inflows to the BTC price to date.

Moreover, Standard Chartered analysts see the ongoing Bitcoin price rally continuing.

USD 200,000 is the correct end-2025 price level for BTC, in line with our previous price estimate, and that it is likely to be the new midpoint for a sideways trading range at that time.

It also suggests that an overshoot to USD 250,000 is likely at some point in 2025 if ETF inflows continue apace and/or reserve managers buy BTC.

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Bitcoin price: Standard Chartered says $150000 level in 2024 'now looks likely' By Investing.com - Investing.com

Bitcoin is A Few Days Away From Entering The Danger Zone Analyst – TradingView

Key points:

According to Rekt Capital, a renowned crypto analyst on X, the current bull cycle will retain the fundamental trend pattern preceding Bitcoin halving despite significant impact from the ETF. The analyst acknowledged the newly launched ETFs have played a role in how the Bitcoin market has developed. However, he believes there will be a pre-halving retracement, like in the previous bull cycles.

In one of his posts, Rekt Capital predicted Bitcoin is a few days away from entering the Danger Zone. According to him, the Danger Zone is where the pre-halving retracement begins. He used historical data to explain that Bitcoin performs pre-halving retracements 14 to 28 days before the halving event.

To further explain his observation, the renowned analyst showed that Bitcoin retraced by 20% in the days leading to the 2020 Bitcoin halving. Similarly, before the 2016 halving event, the flagship crypto pulled back by 40% after an initial rally.

At the time of Rekt Capitals post, the Bitcoin halving event was 31 days away, and the pioneer crypto had retraced by 11%. BTC had dropped from the recently achieved all-time high (ATH) of $73,794 to around $65,000, according to data from TradingView.

The famous analyst accompanied his prediction with a chart analysis suggesting Bitcoin could experience further price drops in a post-halving re-accumulation phase. He also revealed the post-halving accumulation would prepare the topmost cryptocurrency for a post-halving parabolic upside movement.

Bitcoin traded for $65,469 at the time of writing amid a general market downtime. The newly launched ETFs impact on the current bull run is significant, especially in pushing BTC to a new ATH before the halving event. That is a situation the crypto market did not experience until the current bull cycle.

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Bitcoin is A Few Days Away From Entering The Danger Zone Analyst - TradingView

US prediction market Kalshi to take bets on Bitcoin and Ether – Cointelegraph

The United States-based prediction market Kalshi is preparing to launch bets on the price action of major cryptocurrencies Bitcoin (BTC) and Ether (ETH).

Kalshi is launching prediction contracts for its clients, enabling bets on Bitcoin and Ether price movements, according to its website.

At the time of writing, Kalshis Crypto website section enables clients to bet on at least three Bitcoin contracts, including a contract on when Bitcoin will hit $100,000.

The contract currently lists 10 available monthly markets, with the closest one betting that Bitcoin will reach the value on March 28. The latest available bet is by Dec. 31, 2024.

Other contracts include a prediction on how high Bitcoin will reach in 2024 and one on the daily BTC price. The annual price prediction offers five contracts from $75,000 to $150,000. The daily prediction spans 15 markets, starting from $66,750 and ending at $70,250.

Kalshis Ether predictions offer clients to bet only on the annual and daily price events.

While the bets are related to cryptocurrency prices, Kalshis platform will only accept U.S. dollars for placing the bets. As with most of Kalshis bets, the crypto bets will mostly be yes or no across different possible scenarios.

According to industry media, Kalshi clients will be able to place the first bets on Bitcoin and Ether as early as March 18.

Related: Bitcoin to enter pre-halving danger zone, but crypto CEOs remain bullish

Cointelegraph reached out to Kalshi for comments regarding the launch but had yet to receive a response at the time of publication.

Founded in 2018, Kalshi is a financial exchange offering event contracts, allowing users to bet on certain events in the future, including those related to the economy, politics, health, tech and science, and others. The platform is regulated as a designated contract market under the Commodity Futures Trading Commission.

Bitcoin price predictions have been growing increasingly popular since the cryptocurrency posted a new all-time high above $73,000 on March 13.

Binance CEO Richard Tengpredicted on March 17 that Bitcoin would continue its record-breaking rally and rise above $80,000 by the end of the year. Teng expressed confidence in the success of Bitcoin amid the optimism around the massive adoption of spot Bitcoin exchange-traded funds in the United States.

Crypto.com CEO Kris Marszalekpredictedthat the total crypto market capitalization will surge 177% to reach $7.5 trillion by 2025.

Magazine: Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions

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US prediction market Kalshi to take bets on Bitcoin and Ether - Cointelegraph