Michael Saylor, co-founder of MicroStrategy, believes the on | Doric Network on Binance Square

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Michael Saylor, co-founder of MicroStrategy, believes the ongoing geopolitical conflict could actually benefit Bitcoin in the long run. 
#Bitcoin #cryptocurrency #GeopoliticalTensions #bitcoinhalving 

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Why Venezuelans Are Betting Big on Bitcoin Amid Economic Collapse As Venezuela's economy continues to crumble under hyperinflation, its citizens are increasingly turning to Bitcoin as a lifeline. Both poor retirees and wealthy business leaders are converting their rapidly devaluing bolivars into Bitcoin online to pay for everything from medication to honeymoons. The shift towards cryptocurrencies has accelerated as the U.S. reimposes oil sanctions on Venezuela. The state-run oil company PDVSA is planning to increase its use of digital currencies like USDT (Tether) for crude and fuel exports to minimize the risk of sale proceeds being frozen in foreign bank accounts. The number of Venezuelans using cryptocurrencies has surged, with weekly Bitcoin trading volume reaching significant levels, far higher than in more prosperous neighboring countries. In recent years, millions of Venezuelan migrants have sent substantial amounts in remittances using crypto. Venezuelan opposition leader Maria Corina Machado has even proposed adopting a national Bitcoin reserve to combat economic instability as adoption of BTC continues to rise. While Bitcoin is a speculative investment in developed nations, in Venezuela it has become a critical tool for survival in the face of a collapsing economy. As the crisis deepens, expect to see even more Venezuelans seeking refuge in the world of cryptocurrency. #Venezuela #Bitcoin #Cryptocurrency #hyperinflation #EconomicCrisis

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According to a recent report by Citi, the cryptocurrency market is expected to remain closely correlated with stock movements, particularly amid upcoming macroeconomic events. The research highlights a notable decline in demand for digital assets, leading to underperformance compared to other risk assets. Citi analysts, led by David Glass, observed significant net outflows from Bitcoin (BTC) and Ethereum (ETH) ETFs, indicating waning investor interest. Layer-1 blockchain activity has stagnated, and low funding rates reflect a lack of demand for bullish positions. The report suggests that as macroeconomic indicators, such as the Nonfarm Payrolls report, unfold, the crypto market will likely continue to mirror stock market trends. This downturn is further evidenced by reduced energy consumption among Bitcoin miners and overall weaker production cost models, signaling a potential slowdown in the sector. #CryptoMarket #Bitcoin #Ethereum #Investing #MarketTrends

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Analysts are predicting a potential increase in Litecoin's price, driven by various market factors and developments. In a bullish market scenario, experts suggest that Litecoin $LTC could reach between $118 and $393 by 2030, depending on overall market conditions and adoption rates. Factors contributing to this optimism include increased usage, technological advancements, and positive regulatory changes. However, predictions vary widely, with some analysts forecasting a more conservative outlook, suggesting prices may hover around $70 to $100 in the near term. The upcoming Bitcoin halving event is also expected to positively influence Litecoin's price trajectory, as historical trends suggest a correlation between Bitcoin's performance and that of Litecoin. As the cryptocurrency landscape evolves, Litecoin's strong community and ongoing development initiatives position it as a promising investment opportunity. #Litecoin #Cryptocurrency #Investing #PricePrediction #Blockchain

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Google searches for the term "Bitcoin" have plummeted to their lowest point since August 2023, signaling a notable decrease in public interest in the leading cryptocurrency. This trend coincides with reports from major publicly-traded Bitcoin miners indicating decreased production, highlighting ongoing challenges in the cryptocurrency mining sector. Several factors have contributed to this decline, including increased network difficulty and higher power costs during the summer months. The global Bitcoin mining difficulty has reached an all-time high, making it more challenging for miners to earn rewards. Additionally, the cryptocurrency mining sector faced a significant downturn in August, marking one of its least profitable periods in recent years. Miners' earnings have dropped significantly compared to previous highs, reflecting the impact of increased difficulty and reduced output. This combination has created a challenging environment for miners, squeezing profit margins and necessitating adaptive measures. Despite the current challenges, some industry experts remain optimistic. Investment management firms predict that mining companies' strategic pivot towards high-performance computing (HPC) and artificial intelligence (AI) could potentially unlock substantial value in the coming years. #Bitcoin #Cryptocurrency #Mining #GoogleTrends #DigitalGold

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