BlackRock: Bitcoin is an alternative to global legal tender. BlackRock's statement has undoubtedly given a boost to the future development of Bitcoin! As one of the world's largest asset management companies, BlackRock's views deserve high attention. They not only see the potential of Bitcoin as an investment tool, but also directly point out that it may replace global legal tender, which undoubtedly adds fuel to the confidence of the crypto market.
Bitcoin has performed well in recent months, climbing from about $42,000 at the beginning of the year to around $58,100. This growth trend not only reflects the strong demand for Bitcoin among players, but also reflects the decline in global trust in the legal currency system. Bitcoin has become the "savior" in this chaos with its decentralized and anti-inflation properties.
In fact, as global economic uncertainty increases, including inflation, bank failures, and geopolitical risks, the status of Bitcoin as digital gold is becoming increasingly consolidated. As BlackRock said, Bitcoin is not only a tool to hedge these risks, but is also likely to become the core of a new global monetary order in the future. Even many well-known American companies, such as MicroStrategy and Tesla, have added a large amount of Bitcoin to their asset allocation.
The future development potential of Bitcoin is unlimited, especially after more institutions enter the market, the market liquidity will be further improved. For ordinary players, now is the time to seize the opportunity, don't miss this wave of wealth migration!
Trump announced that the cryptocurrency project World Liberty Financial will be launched on September 16, which has undoubtedly attracted great attention from the crypto market. However, the actual implementation and prospects of the project still need to be analyzed in depth from multiple angles.
First of all, World Liberty Financial will be built on Aave and Ethereum blockchain, which are currently more mature and widely used decentralized finance (DeFi) platforms and blockchain technologies. Aave's liquidity protocol and Ethereum's smart contract technology provide a solid technical foundation for the project. However, it is worth noting that one of Trump's campaign promises was to fire SEC Chairman Gary Gensler, which may foreshadow his resistance to the current regulatory environment. But at the same time, the SEC's scrutiny of cryptocurrencies under its current leadership is becoming increasingly strict, especially in the DeFi field, and regulatory pressure cannot be underestimated.
Secondly, the "credit account system" around the project deserves further attention. This system may be aimed at breaking the credit system in traditional finance and providing a new credit rating method combined with decentralized technology. However, how to balance user privacy and the transparency of the credit system will be the key to the success of the project. In addition, Lara and Tiffany Trump's X account was hacked to publish false token information, which also highlighted the security risks. Although the project team has cooperated with top security experts to ensure the safety of user assets, how to effectively prevent potential attacks is still an important issue that needs to be solved.
Standard Chartered Bank’s latest forecast is simply exciting! Geoff Kendrick, head of foreign exchange and digital asset research, said that Bitcoin is expected to hit a new high by the end of 2024, and no matter who wins the US presidential election, Bitcoin may usher in a wave of explosive growth! This forecast has injected full confidence into the entire crypto market.
If Trump wins, Kendrick believes that Bitcoin could reach $125,000; even if Harris is elected, the price could reach $75,000. This shows that the future of Bitcoin is no longer entirely dependent on politics, but is driven more by positive changes in the market and regulation. In particular, loosening of regulations, such as the revocation of SAB 121, will become the main driving force for Bitcoin price growth in the next few years.
What is even more worth looking forward to is that the inflow of funds into spot Bitcoin ETFs in October this year may usher in a seasonal rebound. Once a large amount of market funds flow in, the demand for Bitcoin will further push up the price. The next few months will be an important period of growth! Moreover, the weakness of the U.S. Treasury market is forcing players to look for new safe-haven assets, and Bitcoin is undoubtedly an excellent choice.
Therefore, no matter who wins the presidential election, the future growth potential of Bitcoin is already in sight. Entering the market now may be the perfect time to seize the next wealth trend!
The U.S. spot Ethereum ETF had a net outflow of 8,593 coins yesterday, worth $20.1 million.
The U.S. spot Bitcoin ETF had a net inflow of 681 coins yesterday, worth $39 million.
Bitcoin: It closed with a small positive line yesterday, indicating that the bulls are still trying to exert their strength, but the strength is relatively limited. The MACD indicator shows that DIF and DEA are still below the zero axis, and the bullish energy column is slightly weak, and has not yet shown obvious signs of reversal. In summary: Although the market has a certain upward momentum, it is not enough to form a breakthrough for the time being, and it is still in a box-shaped shock in the short term. Pressure reference: around 58400; around 61300; around 64300;
Ethereum: Yesterday, a spinning hammer was closed, indicating that the power of the long and short sides of the market is temporarily in a stalemate. In the MACD indicator, DIF and DEA are still below the zero axis, indicating that the overall market is bearish. In summary: the current market is at a critical node, with long and short forces evenly matched and fluctuating. Pressure reference: around 2868; around 3102;
Altcoins: Altcoins basically follow the trend of mainstream coins. Many altcoins are at the bottom or have just started to recover from the bottom. After Bitcoin strengthens, the money-making effect of altcoins will appear, and players need to be patient.
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