Tag: Bitcoin
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Bitcoin Outflows Slow as New ETFs Garner Inflows, U.S. Market Leading
Bitcoin ETF Inflows Counterbalance GBTC Outflows While the outflows from Grayscale’s GBTC are substantial, the nine newly launched spot bitcoin ETFs saw inflows of $1.8 billion last week. The BlackRock IBIT led the influx with $744.7 million, closely followed by Fidelity’s FBTC with $643.2 million. Since their launch on January 11, these nine ETFs have […]
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Bitcoin May Surge Past $100,000 in an Unprecedented Year of Halving
A Shift in Dynamics: Supply and Demand Bitcoin, the world’s original cryptocurrency, had a remarkable 2023 with a surge of over 150%. Now, as 2024 unfolds, it appears that Bitcoin’s trajectory continues to impress. The reasons behind this potential growth lie in the evolving dynamics of supply and demand, as well as historical patterns. If […]
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Harvest Fund Leads the Way as Hong Kong Explores Bitcoin ETF Opportunities
Regulatory Momentum Following the United States’ approval of spot Bitcoin ETFs, Hong Kong is swiftly catching up by actively considering embracing digital currencies. The U.S. Securities and Exchange Commission’s approval of the first batch of these ETFs on January 11 has shown a proactive stance from financial authorities towards cryptocurrency. Market Landscape The United States […]
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Bitcoin’s ETF Flop Sparks Peter Schiff’s ‘I Told You So’ Taunts
A Dissatisfied ‘I Told You So’ From an Economist Bitcoin’s highly anticipated spot exchange-traded fund (ETF) launch in the United States did not meet the lofty expectations set by the cryptocurrency community. This disappointment has led economist and vocal Bitcoin critic, Peter Schiff, to take a moment of self-satisfaction and emphasize his reservations about the […]
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Bitcoin Bulls Predict Potential Surge After Halving and ETF Approval
Predicting Conservative Increase of Over 300% Anthony Scaramucci, the founder of SkyBridge Capital, has expressed his optimistic outlook on the future of Bitcoin. Citing historical data, he anticipates a “conservative” surge of more than 300% in the coming months, potentially peaking at $170,000 after the halving event in April. Scaramucci even envisions a long-term scenario […]
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Bitcoin Halving Predicted to Coincide with Cannabis Superbowl, May Boost Adoption
The Fourth Bitcoin Halving: Impending Changes for Miners Bitcoin, the pioneering cryptocurrency, is set to undergo its fourth halving event at block height 840,000. This event will have a substantial impact on miners, whose rewards for solving blocks will be halved from 6.25 BTC ($259,000) to 3.125 BTC ($129,500). The countdown to the halving varies […]
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Bitcoin Miners Face Profitability Challenges as Halving Event Approaches
Bitcoin Halving Event Raises Concerns Scheduled for April, the impending Bitcoin halving event is stirring concerns within the Bitcoin mining community. This event occurs approximately every four years and involves a reduction in the rewards granted to miners for validating transactions and adding them to the blockchain. While many industry experts view this supply reduction […]
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Dogecoin Co-Founder Mocks Bitcoin Plunge as Market Faces Bloodbath
Bitcoin Falls Below $39,000 Earlier today, Bitcoin experienced a significant drop, falling below the $39,000 level. It reached a low of $38,543, resulting in a staggering 19.56% loss from its previous price of $49,000. This sharp decline has caused concerns among cryptocurrency investors. Cryptocurrency Market Faces Bloodbath The cryptocurrency market as a whole has been […]
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Bitcoin Holds Steady as US GDP Growth Beats Expectations
Strong Consumer and Government Spending Drive Q4 Growth According to the BEA’s Thursday morning report, robust consumer and government spending were the primary drivers of the growth seen in the fourth quarter. CoinGecko data reveals that the world’s oldest and largest cryptocurrency, Bitcoin, had a trading volume of nearly $30 billion yesterday. This high trading […]
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Bitcoin’s Bull Run: Historical Patterns Indicate Potential 4-Year Cycle, but Short-Term Headwinds Loom
Near-Term Challenges for Bitcoin Despite the long-term positive outlook, Martinez cautions that Bitcoin may face challenges in the near term. This is primarily due to the cost basis of individuals who have held the cryptocurrency for less than 155 days. In the event that Bitcoin’s price falls below $38,130, short-term BTC holders might find themselves […]