#Cryptocurrency market outlook

[anakeb]

Bitcoin Price Predictions for 2024 and Beyond: Top 5 Projections

Bitcoin's future price projections for 2024 and beyond have garnered significant attention, with several optimistic forecasts emerging. Matrixport, a cryptocurrency trading firm founded by Jihan Wu, anticipates a year-end Bitcoin price of $45,000. BitQuant, a respected commentator, foresees new all-time highs before the upcoming Bitcoin halving, with a post-halving target of $250,000. Various price models converge on a $130,000 target zone, while some, including Cathie Wood and Arthur Hayes, believe in the eventual possibility of a $1 million Bitcoin price. These predictions are speculative and should be approached with caution. Careful research and consideration are advised for those considering cryptocurrency investments.

[intelisync]

Exploring Fault Proofs in Optimism: An Overview

The activation of fault proofs by Optimism marks a significant advancement in Ethereum Layer 2 scaling solutions, completing the first stage of its decentralization plan. This milestone is pivotal for enhancing the network's security and trustlessness, reducing reliance on centralized entities like the Optimism Security Council. Previously, the council monitored transactions and intervened to prevent fraud, but with the new fault proof system, any party can now challenge transactions, moving towards a more decentralized and inclusive network.

Ethereum's high transaction fees have made Layer 2 scaling solutions, such as rollups, essential. Optimism's fault proofs ensure that off-chain transactions are valid by allowing a challenge period where anyone can contest a transaction's validity. If a challenge is raised, a fault proof is provided and verified by the Ethereum mainnet, ensuring that invalid transactions are reverted.

This process significantly enhances the security and integrity of the blockchain. Unlike Arbitrum, which relies on 12 validators, Optimism's fault proof system is designed to be trustless and decentralized, enabling broader participation in transaction verification.

Despite initial challenges with proof generation and verification speeds, Optimism has optimized its fault proof mechanisms to be compatible with Ethereum's Layer 1. This achievement not only improves the security and decentralization of the network but also sets a benchmark for other rollup technologies.

The activation of fault proofs highlights the importance of continuous innovation and rigorous testing in the blockchain space. For more in-depth insights and exclusive research, join our Web3 Sync community on Intelisync and Learn more...

[cryptonewspod]

Tom Lee Predicts Bitcoin to Hit $150K! Shocking Insights!

Well-known financial markets expert Tom Lee has recently said some things about the fastest-growing coin of the cryptocurrency market, Bitcoin, which has brought a smile to the faces of cryptocurrency investors. In a recent interview on CNBC, he talked about his positive views on Bitcoin, saying that it could reach $150k in the next 12 to 18 months, an increase of about 119%. Tom Lee, head of…

[dencyemily]

VeChain Sets Ambitious Price Goals: Analyst Forecasts VET's Rally to $3

VeChain's VET has exhibited remarkable 108% growth since September 23 but faces a 4.43% decline in January 2024, contrasting with the upward trends of Bitcoin and Ethereum. VeFam, a community-driven VeChain-focused account, sets ambitious VET targets at $0.5 in a bearish scenario, $1 in a neutral scenario, and $3+ in a bullish scenario. Despite the optimistic forecasts by VeFam, the volatile nature of crypto markets suggests cautious optimism for investors. VeChain, a significant player in the cryptocurrency market, is currently the subject of ambitious price predictions by VeFam, a community-driven account with a focus on VeChain. These forecasts, emerging during a period of market resurgence, outline potential price milestones for VeChain (VET) under different market scenarios. However, amidst this optimism, it is essential to examine the market dynamics and the realistic potential of these predictions.

VeChain's journey in the crypto market has resembled a rollercoaster. The token experienced a notable upswing of 108% from September to December 2023, climbing from $0.01 to $0.03. However, this impressive growth faced a minor setback in January 2024, with a 4.43% decrease in value. This decline contrasts with the continued growth of other major cryptocurrencies like Bitcoin and Ethereum, which have seen increases of 8.50% and 13.64%, respectively, during the same period.

VeFam's projections for VeChain are notably bullish. In the bearish scenario, VeChain is expected to reach $0.5, signifying a significant leap from its current value and marking a 1,424% increase. The neutral scenario suggests a potential rise to $1, a milestone VeChain has previously approached but not surpassed. The most optimistic, bullish scenario sets VeChain's price at over $3, requiring a monumental 9,049% increase from its current price. This would position VeChain among the top cryptocurrencies in terms of valuation. Notably, VET has been trading at $0.03296, according to CoinGecko data.

While these predictions present an optimistic outlook for VeChain, they come with a caveat. The cryptocurrency market is renowned for its volatility and unpredictability, making such forecasts speculative at best. Investors and market observers should approach these predictions with caution. The past performance of VeChain, combined with the dynamic nature of the crypto market, suggests that while these targets are not impossible, they are by no means guaranteed.

While VeFam's predictions for VeChain provide an optimistic view of its future, maintaining a realistic understanding of the crypto market's volatility is crucial. Investors and enthusiasts should perceive these projections as possibilities rather than certainties, considering the ever-changing landscape of the cryptocurrency world.

[darkmaga-retard]

John Ellis

Aug 05, 2024

1. Stock markets tumbled on Monday, with Japanese shares at one point exceeding their 1987 "Black Monday" loss, as fears of a U.S. recession sent investors fleeing from risk while wagering that rate cuts would be needed to rescue growth. The safe haven yen and Swiss franc surged, as crowded carry trades unravelled, sparking speculation that some investors were unloading profitable trades to get money to cover losses elsewhere. Such was the torrent of selling that circuit breakers were triggered on stock exchanges across Asia. (Source: reuters.com)

2. Taiwan stocks ended down 8.4% on Monday, a record slump, with tech stocks including TSMC plunging as investors sold off one of Asia's top performing markets this year, spooked by a poor outlook for global tech stocks and the U.S. economy. The main index shed 1,807.21 points, its worst one-day percentage fall, to close at 19,830.88, the lowest level since April 23. The decline was fuelled by a sell-off in tech, and then spread more broadly as the index dipped below the key 20,000 level. (Source: reuters.com)

3. Earlier today, South Korea's stock market marked its worst session since the global financial crisis of 2008, with trading curbs activated for the first time in four years, as tech stocks slumped amid U.S. recession fears. The benchmark KOSPI stock index ended the session down 8.8% at 2,441.55, its biggest percentage fall since Oct. 24, 2008. During the session, the KOSPI fell as much as 10.8%, triggering circuit breakers for the first time since March 2020, which are trading curbs activated when the index falls or rises more than 8% and halts trading of stocks and derivatives for 20 minutes. (Source: reuters.com)

4. A closely watched measure of expected US stock market turbulence surged to its highest level in almost four years today as a global stock sell-off gathered pace. The Vix index of expected volatility in the S&P 500 — commonly known as Wall Street’s “fear gauge” — rose to as much as 41.8 points by morning in London to its highest level since November 2020, breaking above an intraday peak in March 2023 following the collapse of Silicon Valley Bank. The Vix measures the price of options that enable investors to profit from swings in the S&P 500. (Source: ft.com)

5.��U.S. pension funds are beginning to explore investments around bitcoin and other cryptocurrencies, a move that could expose millions of former teachers, police officers, firefighters and other retirees to the wild ups and downs of a largely unregulated financial product. In at least five states, industry lobbyists have aggressively hawked the idea, aiming to woo local lawmakers with the promise that digital assets can deliver sky-high profits — often without fully acknowledging the possible risks. The emerging sales campaign contrasts with the broad warnings in Washington that investing in cryptocurrency could leave retirees’ life savings vulnerable to “fraud, theft and loss.” (Source: washingtonpost.com)

6. After more than a decade as a recurring tea-time conversation topic, the delay in retirement is nearing reality in China, set to impact over 500 million workers as the country grapples with a rapidly aging population. The five-year reform blueprint, released last month following a key Communist Party gathering, includes a commitment to raise the retirement age. According to the resolution adopted at the Third Plenum of the party’s 20th Central Committee, China will gradually increase the statutory retirement age based on the principle of “voluntary participation with appropriate flexibility.” For the first time, a key policy document outlines the principles of the reform, fueling expectations that the decade-long initiative will soon be implemented. (Source: caixinglobal.com)

[trader-sg112]

Crypto Market Update: Bitcoin Holds Steady Amid Altcoin Volatility

In the fast-paced world of cryptocurrencies, where volatility is often the norm, the past 24 hours have brought a mixed bag of movements. Bitcoin, the cornerstone of the digital currency market, has managed to hold steady, showing a modest 0.1% climb to reach $62,736.2. This stabilization comes after a tumultuous June, during which Bitcoin struggled and largely maintained a trading range between $60,000 and $70,000. Amidst these fluctuations, other major cryptocurrencies like Ether, ADA, XRP, Dogecoin, and Shiba Inu have shown varying degrees of movement, reflecting the diverse sentiment among investors.

Bitcoin's Resilience: Despite the challenges faced in recent weeks, Bitcoin's resilience is evident as it hovers near the upper end of its recent trading range. This stability could signal cautious optimism among traders, who are closely monitoring whether Bitcoin can sustain its current levels or potentially break out into a new range. The $60,000 support level has held firmly, providing a psychological barrier that investors are keenly watching.

Altcoin Movements: While Bitcoin holds steady, the altcoin market presents a more dynamic picture. Ether, the second-largest cryptocurrency by market capitalization, has experienced a minor decline of 0.25%, indicating some profit-taking after recent gains. On the other hand, ADA (Cardano) and XRP have shown resilience with gains exceeding 4% and 1%, respectively. This contrast highlights the divergent paths within the broader cryptocurrency ecosystem, where investors often shift focus between different assets based on market conditions and individual project developments.

Dogecoin and Shiba Inu: Among meme-based cryptocurrencies, Dogecoin has slipped marginally by 0.6%, reflecting a broader cooling off after significant volatility in previous weeks. In contrast, Shiba Inu has seen a modest uptick of 1.1%, suggesting ongoing interest and trading activity among its community of supporters. These movements underscore the unique appeal and speculative nature of meme coins within the cryptocurrency market.

Market Sentiment and Outlook: As investors navigate through these fluctuations, market sentiment remains cautiously optimistic but tempered by recent volatility. The ability of Bitcoin to maintain its current levels will be crucial in shaping broader market sentiment and determining whether a sustained upward trend can be established. Meanwhile, regulatory developments, macroeconomic factors, and technological advancements continue to influence cryptocurrency prices and investor behavior.

[unpluggedfinancial]

Critical Thinking in the Age of Bitcoin: A Guide to Navigating the Noise

In a world increasingly dominated by information overload, the ability to think critically has never been more essential. This is especially true in the realm of Bitcoin and cryptocurrencies, where rapid developments, complex technologies, and a mix of both reliable and unreliable information can overwhelm even the most seasoned investors. As Bitcoin continues to gain traction and reshape the financial landscape, developing the skills to analyze, question, and make informed decisions is crucial. In this post, we’ll explore the power of critical thinking and introduce you to the concept of first principles thinking—a framework that will help you see through the noise and make sound decisions in the age of Bitcoin.

Understanding the Basics: What is Critical Thinking?

Critical thinking is the process of actively analyzing, interpreting, and evaluating information to reach a conclusion or make a decision. It's not about what to think but how to think—challenging assumptions, scrutinizing evidence, and considering alternative perspectives. In the context of Bitcoin, critical thinking enables you to navigate the hype, avoid pitfalls, and make investment decisions based on a solid understanding rather than speculation.

For instance, when faced with sensationalist headlines predicting Bitcoin’s imminent collapse or its meteoric rise, a critical thinker would delve deeper, asking questions like: What are the sources of this information? What evidence supports these claims? Are there alternative viewpoints? By adopting this mindset, you become better equipped to separate fact from fiction and make decisions that align with your financial goals.

Navigating the Noise: Identifying Reliable Information

The cryptocurrency space is rife with conflicting opinions, market rumors, and biased reporting. Identifying reliable sources of information is a critical first step in forming an accurate understanding of Bitcoin and its ecosystem.

Start by seeking out reputable news outlets and trusted voices within the crypto community. Cross-reference information from multiple sources, and be wary of content that lacks transparency or fails to cite credible data. Tools like blockchain explorers can provide real-time insights into network activity, offering a factual basis to supplement your research.

Additionally, learning to spot red flags—such as overly sensational headlines, articles that play on emotions, or content that promises guaranteed returns—can help you avoid being misled. Remember, in the age of Bitcoin, informed skepticism is your ally.

Avoiding Common Pitfalls: Recognizing Cognitive Biases

Even the most rational minds can fall prey to cognitive biases—systematic patterns of deviation from norm or rationality in judgment. In the volatile world of cryptocurrencies, these biases can lead to poor investment decisions.

One common bias is confirmation bias, where investors seek out information that confirms their pre-existing beliefs while ignoring contradictory evidence. For example, if you’re bullish on Bitcoin, you might only consume content that supports your optimistic outlook, leading to an echo chamber effect.

Another is FOMO (Fear of Missing Out), where the fear of missing out on potential gains drives impulsive decisions. This can lead to buying at market tops or selling during downturns, often resulting in losses.

To counteract these biases, cultivate a habit of questioning your assumptions. Actively seek out opposing viewpoints, and consider the broader context before making decisions. By acknowledging and addressing these biases, you can make more rational and objective choices.

First Principles Thinking: A Framework for Clarity

While critical thinking helps you navigate the surface level of information, first principles thinking allows you to drill down to the very core of issues. This problem-solving approach involves breaking down complex concepts into their most fundamental truths and building your understanding from there.

For example, consider the criticism around Bitcoin’s energy consumption. Instead of accepting headlines at face value, apply first principles thinking. Ask fundamental questions: What is the actual energy usage of the Bitcoin network? How does it compare to the energy consumption of the traditional financial system? What are the societal benefits of Bitcoin’s energy use?

Through this lens, you may discover that while Bitcoin does consume a significant amount of energy, its decentralized nature, security, and potential to replace less efficient financial systems could justify its usage. This type of deep analysis not only clarifies the issue but also equips you with the insights needed to make informed decisions.

Case Study: A First Principles Analysis of Bitcoin’s Energy Usage

Let’s put first principles thinking into practice by examining Bitcoin’s energy consumption—a topic often used to criticize the cryptocurrency. At first glance, the sheer amount of energy Bitcoin uses may seem excessive. However, by breaking down the issue into its core components, we can achieve a more nuanced understanding.

What is Bitcoin’s actual energy usage?

Bitcoin’s energy consumption is significant, but it’s important to quantify this and compare it to other systems, such as the global banking system or gold mining.

What is the purpose of this energy use?

The energy secures the Bitcoin network, ensuring its decentralization and protection against attacks.

What are the benefits of Bitcoin’s energy consumption?

Bitcoin’s decentralized, secure network can provide financial services to unbanked populations, offer an alternative to inflation-prone fiat currencies, and reduce the need for intermediaries in financial transactions.

By applying first principles thinking, we see that the issue is not as straightforward as it first appears. While Bitcoin’s energy consumption is high, the benefits it provides could outweigh the costs, especially when compared to traditional systems.

Benefits of First Principles Thinking in Investing

First principles thinking isn’t just for analyzing Bitcoin’s energy use—it’s a powerful tool for making investment decisions as well. By stripping down complex ideas to their fundamentals, you can avoid getting caught up in market hype or fear.

For example, instead of simply asking, “Should I buy Bitcoin because everyone else is?” ask, “What problem is Bitcoin solving? Is this problem significant enough that Bitcoin will continue to have value in the future?” By focusing on these fundamental questions, you can make investment decisions that are rooted in logic rather than emotion.

Conclusion: The Power of a Critical Mindset

In the ever-evolving world of Bitcoin, critical thinking and first principles thinking are invaluable tools. They empower you to see beyond the noise, avoid common pitfalls, and make informed decisions that align with your long-term goals.

As you continue to navigate the Bitcoin space, remember to always question, analyze, and think from first principles. The more you hone these skills, the better equipped you’ll be to thrive in this new financial frontier.

So, stay curious, keep learning, and never stop questioning. After all, in a world where everyone has an opinion, it’s the critical thinkers who truly understand.

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[minecash]

Unlock Your Financial Future: A Unlock Your Financial Future: A Deep Dive into Mine Cash ROI's Cutting-Edge Technology

Introduction

In the dynamic realm of digital assets, Mine cash stands out as a leader in cryptocurrency mining, driven by innovation and sustainability. Specializing in secure and efficient mining solutions for diverse cryptocurrencies like Bitcoin and Ethereum, Mine cash is reshaping the future of digital finance.

Cutting-Edge Technology and Expertise

At Mine cash, we leverage cutting-edge technology and deep expertise to ensure secure and efficient mining operations. Our state-of-the-art, energy-efficient mining rigs maximize computational power while minimizing energy consumption, enhancing profitability and sustainability.

Diverse Cryptocurrency Portfolio

Beyond Bitcoin and Ethereum, Mine cash actively mines a variety of cryptocurrencies, offering clients access to a broad spectrum of investment opportunities within the evolving digital asset market.

Commitment to Sustainability

Sustainability is integral to Mine cash's operations. We implement eco-friendly mining practices and technologies, reducing our carbon footprint and setting new standards for sustainable mining practices in the industry.

Optimized Facilities

Strategically located, our facilities optimize operational efficiency and ensure maximum uptime. Equipped with advanced infrastructure and security measures, we safeguard client investments in a volatile market environment.

Tailored Solutions for Every Investor

Recognizing the diverse needs of investors, Mine cash offers customized mining solutions tailored to individual preferences and investment goals, from institutional clients to individual enthusiasts.

Expert Team and Client-Centric Approach

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Visionary Leadership and Future Outlook

Looking forward, Mine cash remains committed to pioneering advancements in cryptocurrency mining and shaping a decentralized financial future. With a vision for innovation and integrity, we lead the industry towards a more inclusive and resilient financial ecosystem.

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[harinibw]

CryptoRank reports significant growth in the cryptocurrency market. Bitcoin is trading above $58,000, reflecting a bullish trend. Bitcoin (BTC) increased by 2.23% to $58,519, while Binance Coin (BNB) rose by 0.93% to $528, and XRP gained 0.63% to $0.4412. The overall market capitalization has surged to $2.25 trillion, a 1.36% increase.

Bitcoin's dominance has risen to 51.48%, despite the Fear & Greed Index remaining in the "Fear" zone at 28, indicating cautious investor sentiment. Top gainers include Stader (SD) with a 61.7% rise, Function X (FX) with 40.7%, Mdex (MDX) with 35%, Hivemapper (HONEY) with 34.8%, and Hypurr (PURR) with 21.9%.

The recent uptick in Bitcoin and other major cryptocurrencies signals a positive market outlook, with analysts and investors anticipating further gains despite prevailing caution.

[allproducts81]

Demystifying Crypto with Keystone Investors Club Digital Membership

I've been cautiously curious about cryptocurrency for a while. The potential for high returns is undeniable, but the volatility and complexity of the market kept me on the sidelines. That's where the Keystone Investors Club Digital Membership Area came in.

Educational Resources Galore

The first thing that impressed me was the sheer volume of educational resources available within the membership area. From beginner-friendly guides explaining the basics of blockchain technology to in-depth analyses of different cryptocurrencies, there's something for every level of investor. I particularly appreciated the clear and concise video tutorials, which broke down complex concepts into easy-to-understand chunks.

Insider Insights and Market Analysis

One of the biggest advantages of the Keystone Investors Club is the access to exclusive insights and market analysis. The membership area provides regular updates from cryptocurrency experts, offering valuable forecasts and outlooks on market trends. This insider information proved to be a game-changer, allowing me to make more informed investment decisions with greater confidence.

Curated Investment Opportunities

The cryptocurrency market is flooded with new projects and Initial Coin Offerings (ICOs). Sifting through them all to find legitimate opportunities can be overwhelming. Thankfully, the Keystone Investors Club curates a list of promising projects within the membership area. This not only saved me a ton of research time but also ensured I was focusing on potentially high-growth opportunities.

Building a Crypto Community

While the educational resources and market analysis were invaluable, the true gem of the Keystone Investors Club membership for me was the community aspect. The digital platform fosters interaction and collaboration among members. I was able to connect with like-minded individuals, ask questions, share experiences, and learn from their successes and failures. This sense of community made the often-intimidating world of cryptocurrency feel more approachable and supportive.

Investing with Confidence

Thanks to the Keystone Investors Club Digital Membership Area, I've finally taken the plunge into the world of cryptocurrency. The wealth of educational resources, exclusive market analysis, and supportive community have empowered me to invest with greater confidence. While the cryptocurrency market remains volatile, I feel much better equipped to navigate its complexities and make informed decisions. If you're looking for a comprehensive and supportive platform to launch your cryptocurrency journey, the Keystone Investors Club Digital Membership Area is an excellent option.

[jeffhirsch]

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Rally Respite After Big Best Six Months Gains

Monday is the beginning of the last month of the “Best Six Months (BSM)” (November-April) for the Dow and S&P 500 – and what a banner one it’s been so far. From our Seasonal MACD Buy Signal on October 9, 2023, through the close on March 28, 2024, DJIA is up 18.46% and S&P 500 is up 21.19% – more than double the historical average BSM gains. Our Best Six Months Seasonal MACD Sell Signal can trigger anytime on or after the first trading day of April, which is Monday April 1st this year. NASDAQ’s Best 8 Months end in June, which is up 21.47% since our buy signal, not quite double the average but give it time.

The big rewards we have reaped this Best Six Months and year-to-date so far have not left much on the table until later this year. Risks are more elevated now. Sentiment continues to run high. Valuations are extended. Geopolitical tensions have not eased. And persistent inflation pressures have the Fed in no rush to cut rates. As the election campaign rhetoric heats up and the Best Six Months comes to a close be prepared to shift to a more cautious stance when we issue our Best Six Months Seasonal MACD Sell Signal. We do not expect a bear market or major correction. We do not Sell in May and go away. We sell some things, tighten stops and consider defensive positions if warranted.

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[bitcoincables]

Crypto Executives Bullish on Bitcoin: Targeting $100,000 in 2024

Bitcoin's price is currently near its 18-month high at $44,000, and analysts and investors are rushing to put out higher price targets for the cryptocurrency. Many believe that Bitcoin could reach $100,000 by next year. Executives from the crypto industry, such as Michael Saylor from MicroStrategy, one of the largest Bitcoin holders, are confident that Bitcoin could double in value within 12 months. Saylor has not officially announced a price target for 2024, but he has mentioned that Bitcoin could increase by tenfold and has suggested that one day people will brag about buying five-figure Bitcoin. Other crypto executives and mainstream financial players, including Matrixport and Standard Chartered Bank, have also expressed bullish sentiment towards Bitcoin, with price targets of $125,000 and $100,000 respectively.

There are two major catalysts driving the optimistic outlook for Bitcoin. Firstly, the US market is expecting the approval of the first-ever spot Bitcoin ETF, which could attract a significant influx of institutional investor money into Bitcoin when it happens, potentially in early 2024. Secondly, the Bitcoin halving, scheduled for April 2024, is anticipated to further boost the price. In the past, the halving has led to substantial price increases, and the next halving is generating excitement among investors. However, it's worth noting that there are risks involved, such as the SEC's decision on the ETF and the possibility that the halving may not have the desired impact on price. Despite these uncertainties, the overall sentiment remains positive, with Bitcoin having the potential to double in value in 2024 and reach the $100,000 mark.

While the path to $100,000 seems promising, there are still potential obstacles that could impede Bitcoin's growth. The SEC's potential rejection of a spot Bitcoin ETF could have a negative effect, considering the significance of this development. Additionally, the Bitcoin halving may not generate the expected results, which could dampen bullish forecasts. However, considering the significant growth Bitcoin has already experienced this year, with its value more than doubling, a target of $100,000 for 2024 seems reasonable. Overall, the long-term outlook remains positive for Bitcoin.

Read the original article

[21gladiators]

The Basics of Cryptocurrency: A Beginner's Guide to Getting Started

In this beginner's guide, we will explore the fundamentals of cryptocurrency, including wallet technologies, mining, faucets, DeFi, staking, and general investing in the crypto market.

Introduction Welcome to the exciting world of cryptocurrency! In this beginner’s guide, we will explore the fundamentals of cryptocurrency, including wallet technologies, mining, faucets, DeFi, staking, and general investing in the crypto market. Join me as we embark on this journey, filled with endless possibilities and a positive outlook on the future of cryptocurrency. Understanding Wallet…

[azcryptoreviews]

"Bitcoin's Potential Soars: Could It Reach $3 Million Per Coin?"

By George Georgiev | Nov 1, 2023

When it comes to Bitcoin (BTC) price predictions, one analyst is making waves with an eye-popping forecast. Luke Broyles, a respected crypto analyst and Bitcoin advocate, is suggesting that Bitcoin's value could skyrocket to an astounding $3 million per coin. While this may sound outrageous, Broyles presents a compelling case for this bullish outlook.

Broyles points out that despite Bitcoin's impressive market capitalization of $500 billion as of 2023, it still represents a fraction of the world's largest asset classes. To support his prediction, he emphasizes that Bitcoin's adoption rate is currently between 0.05% and 0.5%. If this adoption rate were to increase to 10%, it could drive a 100-fold increase in Bitcoin's value. Even if just 4% of the global population demanded 1 million satoshis, it could lead to Bitcoin's price soaring to astronomical heights.

Drawing parallels with the early days of the internet, Broyles argues that Bitcoin is a triple point asset, serving as a store of value, medium of exchange, and unit of account. He highlights the inherent value of groundbreaking technology, even with low initial adoption rates, as demonstrated by the internet's growth in the late '90s and early 2000s.

As of 2023, Bitcoin has shown resilience by recouping at least 50% of its all-time high from November 2021, currently trading at $34,501. However, much of the recent price action has been driven by news related to a spot exchange-traded fund (ETF), which is now fading in significance.

Achieving Bitcoin's price of $3 million per coin would require a confluence of factors, including regulatory changes, growing demand for risk assets in response to higher inflation, monetary policies enacted by central banks like the Federal Reserve, geopolitical tensions, and more. Broyles isn't the only analyst to make bold predictions about Bitcoin's future, but it's often events like chaos and social unrest that attract the most attention to this digital asset.

In conclusion, while a $3 million price target for Bitcoin may seem audacious, Luke Broyles makes a compelling argument based on Bitcoin's potential for growth and its current low adoption rates. However, realizing this milestone would depend on various influential factors coming into play. As the crypto world continues to evolve, it's clear that Bitcoin's journey is far from over.

Disclaimer:

The views and opinions expressed in this article are those of the author, Luke Broyles, and do not necessarily reflect the official stance of A-ZCRYPTOREVIEWS or its editorial team. Cryptocurrency investments are highly speculative and volatile, and readers should exercise caution and conduct their own research before making any investment decisions. It's essential to understand that cryptocurrency markets are subject to significant risks, including regulatory changes, market fluctuations, and unforeseen events that can impact the value of digital assets. A-ZCRYPTOREVIEWS provides news and information for educational purposes only and does not offer financial or investment advice. Readers are encouraged to consult with financial professionals and experts before making any investment decisions.

[mariacallous]

It was another busy week in security, complete with hacks, murders, prosecutions, and US congressional investigations. But first, here’s some news from the security desk at WIRED.

In spite of law enforcement’s crackdown on ransomware attacks in recent years, 2023 is set to be the second biggest year for ransomware revenue after 2021. Data from cryptocurrency tracing firm Chainalysis shows that in the first six months of 2023, victims have paid $449 million—nearly as much as the total payments in all of 2022. As the volume of attacks has spiked, ransomware groups have become more aggressive and reckless in their tactics.

Earlier this week, Microsoft revealed that a Chinese hacker group had accessed the cloud-based Outlook email systems of 25 organizations, including the US State Department. They employed a unique trick: using stolen cryptographic keys to generate authentication tokens, which gave them access to dozens of Microsoft customer accounts.

A man who played a major role in building the world’s first dark-web drug market has been sentenced to 20 years in federal prison. Roger Thomas Clark—also known as Variety Jones—will now likely spend much of the rest of his life incarcerated for helping to pioneer Silk Road, the anonymous, cryptocurrency-based model for online illegal sales of drugs.

And finally, we examined the rapid rise of real-time crime centers since the September 11, 2001 attacks. Across the US, more than 100 of these high-tech surveillance operations have popped up, leveraging CCTV, gunshot sensors, face recognition, and social media-monitoring to keep watch over cities. But at what cost?

That’s not all. Each week, we round up the security and privacy news we didn’t cover in depth ourselves. Click on the headlines to read the full stories, and stay safe out there.

Nude Videos of Kids From Hacked Hikvision Cameras Were Sold on Telegram

An explosive report from IPVM, a surveillance industry trade publication, found that child sexual abuse material sourced from hundreds of hacked Hikvision cameras is being sold on Telegram. The report states that hackers likely gained access to insecure Hikvision cameras by exploiting weak or known passwords, and then used the company’s mobile app to distribute access to the feeds.

IPVM found messages in Telegram channels that advertise access to the hacked cameras using terms like “cp” (child porn), “kids room,” “family room,” and “bedroom of a young girl” to entice potential buyers. Telegram has since taken down the channels, some of which had thousands of members.

Telegram has long been criticized for lax content moderation. In 2021, a nonprofit called the Coalition for a Safer Web sued Apple and demanded that the company remove Telegram from its App Store, citing the app’s failure to remove violent and extremist content.

Hikvision’s response was adversarial. “Hikvision knows nothing about these potential crimes,” the company said in a statement. “IPVM’s selfish decision to seek comment from us prior to alerting authorities is highly questionable and, in this instance, disgraceful.”

IPVM disputes this allegation and says it promptly contacted the FBI upon discovering the crimes.

Fitness App May Have Helped Track Murdered Russian

A murdered Russian submarine captain may have been tracked by his killer through the Strava fitness app. According to the BBC, the commander, Stanislav Rzhitsky, kept a public Strava profile that detailed his jogging routes—including one that took him through the park where he was killed early this week.

Privacy experts have been concerned about the dangers posed by social fitness apps like Strava for years. In 2018, for example, researchers exposed several secret US military installations using public data from soldiers tracking their fitness with the app.

While the killer’s motivations are currently unclear, Russian investigators say they arrested a man named Serhiy Denysenko, born in Ukraine, in connection with the murder. According to several Russian Telegram channels, Denysenko was the former head of the Ukrainian Karate Federation.

Ukrainian media reported that Rzhitsky commanded a Russian Kilo-class submarine that may have carried out a deadly missile attack on the Ukrainian city of Vinnytsia last year. Rhitsky’s personal information had previously been uploaded to the Ukrainian website Myrotvorets (Peacemaker), an unofficial database of people considered to be enemies of Ukraine, according to CNN.

Ukraine’s Defense Intelligence did not take responsibility for the commander’s death. “Obviously, he was eliminated by his own men for refusing to continue to carry out combat orders from his command regarding missile attacks on peaceful Ukrainian cities,” the agency wrote in a statement.

Tax Prep Sites Expose Data to Facebook and Google

A congressional investigation, led by US senator Elizabeth Warren, found that millions of Americans who file their taxes online with H&R Block, TaxSlayer, and TaxAct had financial information shared with Google and Facebook. The investigation was spurred by a 2022 report by The Markup that revealed how the three companies were transmitting sensitive data to Facebook through a tool called the Meta Pixel. The data was sent as taxpayers filed their taxes and contained personal information, including income and refund amounts.

Warren and six other lawmakers wrote to the US Justice Department this week, asking for criminal charges against the tax companies for breaking laws forbidding them from sharing their clients’ personal information. “The tax prep firms were shockingly careless with their treatment of taxpayer data,” the lawmakers wrote.

A third of the 80,000 most popular websites on the internet use the Meta Pixel, a 2020 investigation by The Markup found. Website operators include the pixel to measure clicks from their ads on Facebook’s platforms, but at the expense of their users’ privacy. Crisis Pregnancy Centers, Suicide Hotlines, and hospitals and have all been caught sending sensitive user data to Meta in the past few years.

The seven Democrats called on the US Internal Revenue Service to build its own free tax preparation software, though government services have also been caught using the Pixel to send data to Meta.

Nebraska Mom Pleads Guilty to Giving Abortion Pills to Her Teen Daughter

A Nebraska woman has pleaded guilty to criminal charges after helping her 17-year-old daughter with a medication abortion last year; key evidence against her included her Facebook messages. In mid-June of 2022, Nebraska police sent a warrant to Meta requesting private messages from the mother and daughter as part of an investigation into an illegal abortion, court documents show. The chats appear to show the mother instructing her daughter about how to take the pills. “Ya the 1 pill stops the hormones an rhen u gotta wait 24 HR 2 take the other,” reads one of her messages.

Since the US Supreme Court overturned Roe v. Wade in June 2022, experts have raised serious concerns about the variety of ways data will be weaponized by law enforcement who want to prosecute people seeking abortions. Because Facebook Messenger doesn’t default to end-to-end encryption (E2EE) the way messaging services like Signal, WhatsApp, and iMessage do, people are especially vulnerable to criminal investigations if they use the platform.

UK Prosecutors Say Teen Lapsus$ Member Was Behind Uber Hack

According to a recent report from Reuters, prosecutors told a London court that a teenager associated with the hacking group Lapsus$ was responsible for high-profile hacks of Uber and fintech company Revolut in September of last year. Arion Kurtaj, who is 18, faces 12 charges, including three counts of blackmail, two counts of fraud, and six charges under the UK’s Computer Misuse Act.

The Uber hack reportedly cost the company $3 million in damages. At the time, Uber said the hacker who took responsibility posted pornographic material to an internal information page alongside the message: “Fuck you wankers.”

Kurtaj, along with an unnamed 17-year-old, is also facing allegations of blackmailing BT Group, EE, and Nvidia. Prosecutors described the pair as “key players” in Lapsus$. Kurtaj has been deemed not fit to stand trial by medical professionals; the jury will decide whether he is responsible for the hacking incidents rather than guilty of them.

[coineagle]

Ethereum Soars to $2900 as BTC Dominance Wanes: A Bullish Uprising

Key Points

Ethereum shows signs of recovery, potentially due to increased demand from whales.

Despite a positive outlook, a sustained rally for Ethereum may not be realistic.

Ethereum’s recovery is underway after a period of struggle to establish a bullish stance.

This recovery seems to be a reflection of the overall improvement in market sentiment, but a specific factor might have given Ethereum’s bulls a boost.

Correlation Between Bitcoin Dominance and Ethereum’s Price

A strong correlation has been noted between Bitcoin’s dominance and Ethereum’s price downside for several months this year, with the BTC.D chart reaching a YTD high of 58.59%.

Ethereum is regaining its bullish momentum around the time that BTC.D has begun to decline, indicating a shift in liquidity flows favoring altcoins, with Ethereum reaping the benefits.

Whale Activity and Ethereum

The recent rally saw a 16% upside in the last week, following weeks of struggles to break free from its local bottom range.

Our metrics show that whales have been actively leading the recent rally, with their balances growing since the beginning of September.

Historical concentration data reveals that as of September 1st, Ethereum whales held 58.12 million Ethereum in their addresses, increasing to 58.48 million coins as of the latest data on September 23rd.

The whale address balances grew by approximately 360,000 coins in about three weeks, equivalent to $949.68 million worth of Ethereum at the current market value.

Large holder inflows have seen growth in recent days, with inflows spiking from 101,740 coins on September 14th to 675,000 coins as of September 19th.

On September 23rd, Ethereum’s large holder inflows soared from below 96,000 Ethereum to over 515,000 Ethereum.

In contrast, large holder outflows reached their highest spike this month between the 18th and 19th of September, bouncing from 150,340 coins to almost 590,000 coins.

Outflows were at 241,000 coins as of September 23rd, indicating that address inflows (demand) were higher than sell pressure.

Ethereum’s Future

Ethereum’s current bullish run could be seen as a sign of recovery, leading many traders to anticipate a continued rally.

However, a continuous rally may not be sustainable.

Short-term momentum might push the cryptocurrency closer to the $2,800 to $2,900 price range, a range that has previously acted as a support and resistance zone.

As Ethereum moves into this zone, there could be a higher likelihood of profit-taking and increased sell pressure.

Ethereum’s RSI was at 60.03 at the time of writing, indicating it was not yet overbought.