When Bitcoin reaches $80,000, the likelihood of altcoin season increases.
Once Bitcoin's trading price surpasses $80,000, the altcoin market may find its footing. Bitcoin at $67,713, a cryptocurrency investment firm stated that breaking the current historical high of $73,679 is insufficient to trigger altcoin season.
"In an optimistic scenario, altcoin season is more likely to arrive when Bitcoin's price exceeds $80,000." An 18% increase in Bitcoin's price could trigger altcoin season. The target price of $80,000 is about 18% higher than its current price of $67,331, and analysts believe that Bitcoin's dominance may need to reach between 62% and 70% for altcoin season to begin.
Despite Bitcoin reaching new highs, it shows no signs of 'mania'
The head of research at Galaxy said that, from a fundamental perspective, Bitcoin shows no signs of asset overheating.
Despite Bitcoin reaching a historic high this week, it shows no signs of 'overheating'; some analysts point out that fundamentals suggest Bitcoin may rise further.
Galaxy's head of research Alex Thorn stated in a market report seen by Cointelegraph on November 7: 'From a fundamental perspective, the market does not seem to be overheating.' Analyst Aurelie Barthere from cryptocurrency analysis firm Nansen also expressed a similar view. In a market report on November 7, Barthere stated: 'Bitcoin broke its historical high with huge trading volume, clearly indicating that Bitcoin will continue to maintain positive momentum post-election.'
Vesting Launch: Making Token Releases Fairer and More Sustainable In the cryptocurrency field, the method of token release has always been a focus for investors. Especially in new token and community-driven projects, ensuring a fair, just, and sustainable release method has become an important criterion for measuring project success. SushiSwap's linear vesting Memecoin launch platform, Vesting Launch, effectively offsets the phenomenon of PVP.
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Russia's cryptocurrency mining regulations come into effect, officially defining mining as a legal activity Russia's comprehensive cryptocurrency mining regulations came into effect on November 1, reforming the industry with strict energy caps, mandatory registration, and strict supervision. The law officially defines mining as a legal activity in Russia, sets safety and operational requirements for miners, and creates a structure for trading digital financial assets on specially approved platforms. Under the new regulations, only registered organizations and individual entrepreneurs can legally engage in cryptocurrency mining. The regulations also establish detailed reporting obligations for miners, requiring them to disclose the total amount of digital currency mined to the Federal Tax Service (FTS) and provide address identifiers for each transaction.