Bitcoin, the top cryptocurrency, reached a two-month low due to risk aversion in global markets triggered by concerns about China's economy and U.S. interest rates, as well as a report that Elon Musk's SpaceX sold its bitcoin holdings.
China's historical dominance in the crypto industry persists despite periodic crackdowns, with many crypto companies still earning a significant portion of their revenue from the country and maintaining unofficial channels of liquidity; China's economic uncertainty, including concerns about future crackdowns and a collapsing real estate market, can impact global crypto markets.
A new study by the Bank for International Settlements (BIS) suggests that cryptocurrencies like Bitcoin have not reduced financial risks but rather amplified them in emerging market economies, leading to potential policy options ranging from bans to regulation.
Major cryptocurrencies like Bitcoin, Ethereum, and Solana have already reached their lowest points of the cycle, according to former ARK Invest executive Chris Burniske, who predicts that the long-term uptrend for these digital assets will persist into 2024 and 2025 despite potential market fluctuations.
Bitcoin and Ether both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
Bitcoin might experience a period of stagnation followed by a potential peak at $200,000 by the end of 2025 or early 2026, according to a crypto analyst, although short-term prospects for Bitcoin appear challenging due to a comparison with the 1930s stock market and oversold condition.
The cryptocurrency market is preparing for a potential larger financial event in September that could significantly impact Bitcoin, Ethereum, XRP, and the wider digital asset landscape.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
A surge in global interest in acquiring Bitcoin has been observed, with Nigeria leading the way, as investors anticipate a potential rally driven by upcoming events in the crypto sphere and the approval possibility of the inaugural spot Bitcoin exchange-traded fund (ETF) by the SEC. Bitcoin's evolving role as a possible store of value is reflected in low exchange-held supplies, while technical analysis suggests a bearish sentiment but a potential reach of $26,500 and the $30,000 milestone.
Renowned cryptocurrency expert Arthur Hayes predicts that Bitcoin will enter a period of consolidation around the $25,000 mark in the coming months, while also emphasizing the potential long-term value and importance of cryptocurrencies and blockchain technology.
ARK Invest CEO Cathie Wood predicts that the market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years, driven by institutional investment and the potential approval of a Bitcoin exchange-traded fund (ETF), with the total crypto market cap potentially reaching $25 trillion by 2030.
Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.
The crypto market analyst at Bloomberg Intelligence predicts that the unlocking of billions in capital flowing into US-based ETFs could make 2024 a significant year for digital assets despite the US Securities and Exchange Commission's stance on crypto.
BlackRock's entry into the crypto space with its application for a Bitcoin exchange-traded fund (ETF) marks a significant turning point that dispels the notion of cryptocurrencies as a passing trend, signaling the growing institutional interest in Bitcoin and the crypto industry.
Bitcoin investors may face a turbulent September, but analysts suggest looking towards mid-October for potentially positive market movements.
Bitcoin's recent legal victory and the possibility of approved spot Bitcoin ETFs from major financial firms like Blackrock and Fidelity could lead to increased adoption and price gains in September.
Bitcoin's volatility has increased as the market reacts to news regarding the United States Securities and Exchange Commission's delay on Bitcoin exchange-traded fund (ETF) applications, with Bloomberg analysts remaining optimistic about the possibility of Bitcoin ETFs being approved in 2023.
Global search traffic for the term "cryptocurrency" has reached a five-year low, potentially influenced by factors beyond price volatility such as regulatory crackdown and increased knowledge of crypto among the general public.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Despite the uncertain regulatory environment and the current state of the crypto markets, asset managers remain interested in digital assets and expect the industry to grow in the next five years, with many estimating a compound annual growth rate of at least 11%.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
Big tech stocks and cryptocurrencies, including Bitcoin, may underperform in the coming years due to contracting market liquidity and the Federal Reserve's hawkish policies, according to crypto analyst Nicholas Merten.
A Bitcoin ETF is likely to be approved in the US by the end of 2023, with recent developments indicating increased prospects of approval, potentially revitalizing Bitcoin and lifting the crypto market out of its bearish state.
The global Bitcoin Bank market is expected to experience significant growth between 2023 and 2030, with the market value projected to reach multimillion dollars by 2030.
Bitcoin's weak performance and its potential "double top" structure raise concerns of more downside, with predictions of new local lows; however, there are indications that Bitcoin may experience a major shakeout before rebounding to "fair value" and the 200-week EMA near $25,600 may offer some optimism; debate ensues over the possibility of Bitcoin filling the $20,000 CME futures gap; liquidity levels on BTC/USD markets continue to increase, adding to bearish predictions; ahead of the Federal Reserve meeting, the United States Consumer Price Index (CPI) data release on September 14 brings potential volatility to the market and may impact crypto market expectations.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
Bitcoin (BTC) reached new September highs as markets reacted positively to macroeconomic and crypto industry news, with the cryptocurrency trading at around $26,300, up 5.5% from its September lows; traders have expressed optimism about Bitcoin's recent performance and potential future breakout if a Bitcoin spot price ETF is approved by U.S. regulators in the coming months, while some remain cautious and predict a potential relief rally before a further decline in on-chain volume.
Crypto strategist predicts a significant expansion in the digital assets market similar to 2019, with the possibility of a short squeeze after a Bitcoin market correction.
Bitcoin could potentially surge over 70% in a move similar to 2015, as crypto analyst Michaël van de Poppe observes patterns that indicate a sustained trading range before a significant upside move ahead of the 2016 halving event.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
Despite claims of a bear market for cryptocurrencies, indicators such as website traffic suggest that crypto adoption and demand for crypto services have actually been growing in 2023.
Bitcoin's market dominance rate has reached its strongest level in a month, rising to 50.2%, as risks rise for the rest of the cryptocurrency sector, while alternative cryptocurrencies may be on the brink of breaking lower.
Bitcoin and other cryptocurrencies experienced a rise prior to the Federal Reserve's decision on interest rates, signaling possible volatility in the market.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
Ark Invest's recent report highlights the recovery of Bitcoin's realized capitalization, the decline in liquidity and trading volumes, the recent increase in volatility, and the optimistic long-term outlook for the cryptocurrency.
The Federal Reserve's decision to maintain interest rates and raise its long-term forecast for the Federal Funds Rate surprised many market participants, causing a slight pullback in the stock and cryptocurrency markets while highlighting the need for investors to focus on the actual health and viability of companies and the utility of the crypto ecosystem. Additionally, the article speculates on the impact of the U.S. Securities and Exchange Commission's ruling on Bitcoin spot ETF applications and the potential for cryptocurrency to become a mainstream alternative investment.
Bitcoin could experience significant inflows from China in the coming months due to a weakening Chinese yuan and increasing capital flight, with Chinese investors turning to Bitcoin as a familiar investment in times of economic uncertainty, according to experts. The recent data shows that China's capital outflow reached its highest level since 2015 in August, potentially putting further pressure on the yuan. While Chinese capital controls may limit investment options, cryptocurrency, particularly Bitcoin, is seen as a viable alternative. However, analysts caution that the impact of Chinese capital flight on Bitcoin may not be as significant as it was in 2017 due to changes in regulations and crackdowns on certain practices.
Altcoins are expected to struggle for the rest of 2023 based on historical patterns, according to crypto analyst Benjamin Cowen, who also warns that Bitcoin may close the month in the red as it did in 2019.
