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#BTC☀ #loElon Musk, the billionaire chief executive of Tesla, has mostly steered clear of bitcoin and crypto comments following the bitcoin price crash in 2022 (even as fellow billionaire Mark Cuban makes a "crazy" bitcoin price prediction).Elon Musk Suddenly Breaks His Silence On Bitcoin After Issuing A Shock U.S. Dollar ‘Destruction’ Warning That Could Trigger A Crypto Price Boom
Elon Musk Suddenly Breaks His Silence On Bitcoin After Issuing A Shock U.S. Dollar ‘Destruction’ Warning That Could Trigger A Crypto Price Boom
Billy Bambrough
Senior Contributor
I write about how bitcoin, crypto and blockchain can change the world.
Elon Musk, the billionaire chief executive of Tesla, has mostly steered clear of bitcoin and crypto comments following the bitcoin price crash in 2022 (even as fellow billionaire Mark Cuban makes a "crazy" bitcoin price prediction).
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake!
The bitcoin price has however surged back, topping its late 2021 peak and climbing over $70,000 per bitcoin as Wall Street adoption and Donald Trump's crypto conversion powering the market higher.
Now, after Musk issued a shock warning over the future of the U.S. dollar, the fickle billionaire has broken his long silence on bitcoin, saying he sees "some merit" in it.
Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run
FORBES'Absolute Game Changer'-Congress Introduces Radical Bitcoin Bill As Trump Primes Price For A $100 Trillion Surge To Replace GoldBy Billy Bambrough
"I do think there's some merit in bitcoin, and maybe some other crypto," Musk said during an interview broadcast on YouTube. "I've sort of got a soft spot for [the meme-based bitcoin rival] dogecoin because I like dogs and memes," Musk added.
#BTC☀
#ElonMuskUpdates #Bitcoin_Coneference_2024
Elon Musk Suddenly Breaks His Silence On Bitcoin After Issuing A Shock U.S. Dollar ‘Destruction’ Warning That Could Trigger A Crypto Price Boom
Billy Bambrough
Senior Contributor
I write about how bitcoin, crypto and blockchain can change the world.
Elon Musk, the billionaire chief executive of Tesla, has mostly steered clear of bitcoin and crypto comments following the bitcoin price crash in 2022 (even as fellow billionaire Mark Cuban makes a "crazy" bitcoin price prediction).
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake!
The bitcoin price has however surged back, topping its late 2021 peak and climbing over $70,000 per bitcoin as Wall Street adoption and Donald Trump's crypto conversion powering the market higher.
Now, after Musk issued a shock warning over the future of the U.S. dollar, the fickle billionaire has broken his long silence on bitcoin, saying he sees "some merit" in it.
Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run
FORBES'Absolute Game Changer'-Congress Introduces Radical Bitcoin Bill As Trump Primes Price For A $100 Trillion Surge To Replace GoldBy Billy Bambrough
"I do think there's some merit in bitcoin, and maybe some other crypto," Musk said during an interview broadcast on YouTube. "I've sort of got a soft spot for [the meme-based bitcoin rival] dogecoin because I like dogs and memes," Musk added.
#BTC☀
#ElonMuskUpdates #Bitcoin_Coneference_2024
#BTC☀ #NOT🔥🔥🔥 The crypto market is boiling as billions of dollars in Bitcoin (BTC) are withdrawn from exchanges. This trend could indicate an imminent rise in the price of BTC, potentially up to $72,000!Massive Bitcoin Withdrawals from Exchanges!
According to exchange data, BTC holders are massively withdrawing their assets from centralized platforms. On July 5, 2024, as prices dropped, around $3.8 billion in BTC was moved from exchanges. This action quickly reversed the trend, making prices soar from $53,500 to $65,000. On July 16, another wave of withdrawals saw $3.4 billion in BTC leave the exchanges.
Analysts often interpret these withdrawals as a positive sign for prices. When BTC holders move their assets to non-custodial wallets, they show a willingness to hold onto their tokens long-term! This reduces the selling pressure on the market. With fewer BTC available on exchanges, scarcity increases, which can benefit bullish movements.
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BTC Price Forecasts
In addition to massive withdrawals, other indicators suggest potential price increases. The realized profit and loss ratio is at its lowest level in several months. This indicates that investors who wanted to sell at high prices have already done so. Additionally, Bitcoin has regained its average cost basis for short-term holders, meaning those who bought in the last 155 days are now making a profit.
Historically, when BTC exceeds its average cost basis, prices tend to rise by more than 30%. If this trend continues, Bitcoin could well reach and even exceed $72,000 in upcoming sessions.
The recent wave of BTC withdrawals from exchanges could be a precursor to a significant price increase. With favorable market indicators and a reduction in available supply, BTC seems poised to reach new heights. Investors and market watchers should closely follow these developments to seize potential opportunities.
According to exchange data, BTC holders are massively withdrawing their assets from centralized platforms. On July 5, 2024, as prices dropped, around $3.8 billion in BTC was moved from exchanges. This action quickly reversed the trend, making prices soar from $53,500 to $65,000. On July 16, another wave of withdrawals saw $3.4 billion in BTC leave the exchanges.
Analysts often interpret these withdrawals as a positive sign for prices. When BTC holders move their assets to non-custodial wallets, they show a willingness to hold onto their tokens long-term! This reduces the selling pressure on the market. With fewer BTC available on exchanges, scarcity increases, which can benefit bullish movements.
€20 bonus for registering on Bitvavo
This link uses an affiliate program.
BTC Price Forecasts
In addition to massive withdrawals, other indicators suggest potential price increases. The realized profit and loss ratio is at its lowest level in several months. This indicates that investors who wanted to sell at high prices have already done so. Additionally, Bitcoin has regained its average cost basis for short-term holders, meaning those who bought in the last 155 days are now making a profit.
Historically, when BTC exceeds its average cost basis, prices tend to rise by more than 30%. If this trend continues, Bitcoin could well reach and even exceed $72,000 in upcoming sessions.
The recent wave of BTC withdrawals from exchanges could be a precursor to a significant price increase. With favorable market indicators and a reduction in available supply, BTC seems poised to reach new heights. Investors and market watchers should closely follow these developments to seize potential opportunities.
#BTC☀ Rich Dad Poor Dad' Author Robert Kiyosaki Bats For Bitcoin Even As His $350K Prediction For August Seems Out Of Reach
World-renowned author and investor Robert Kiyosaki urged investors to buy more Bitcoin (CRYPTO: BTC) and precious metals like gold and silver in order “to turn a bad hand into a great hand.”
What Happened: On Wednesday, the author of the best-selling personal finance book "Rich Dad Poor Dad" wrote on X, “The bad hand is being [dealt] now. Millions will lose. Please don't be one of the losers.”
It was unclear which market segment he alluded to as the bad hand, given that stocks surged to record highs this week. In fact, it is Bitcoin that has suffered a sharp drop in recent days.
Kiyosaki stated that institutional investors are purchasing Bitcoin despite the dip, seemingly pointing towards net positive inflows into spot exchange-traded funds.
While precious metals such as gold and silver are usually regarded as safe-haven commodities, many Bitcoin supporters include the digital currency in this category.
Why It Matters: Kiyosaki, a staunch supporter of Bitcoin and other cryptocurrencies, is known for making unrealistic price predictions.
Last month, he forecasted that the King Crypto would hit $350,000 by the end of August. At the current price, this would imply a 6x increase in a little over a month, an unlikely scenario.
Earlier this year, he predicted that Bitcoin would hit $100,000 by June 2024. The digital currency fell significantly short of the prognosis.
Price Action: At the time of writing, Bitcoin was trading at $57,342.81 down 1% in the last 24 hours, according to data from Benzinga Pro
World-renowned author and investor Robert Kiyosaki urged investors to buy more Bitcoin (CRYPTO: BTC) and precious metals like gold and silver in order “to turn a bad hand into a great hand.”
What Happened: On Wednesday, the author of the best-selling personal finance book "Rich Dad Poor Dad" wrote on X, “The bad hand is being [dealt] now. Millions will lose. Please don't be one of the losers.”
It was unclear which market segment he alluded to as the bad hand, given that stocks surged to record highs this week. In fact, it is Bitcoin that has suffered a sharp drop in recent days.
Kiyosaki stated that institutional investors are purchasing Bitcoin despite the dip, seemingly pointing towards net positive inflows into spot exchange-traded funds.
While precious metals such as gold and silver are usually regarded as safe-haven commodities, many Bitcoin supporters include the digital currency in this category.
Why It Matters: Kiyosaki, a staunch supporter of Bitcoin and other cryptocurrencies, is known for making unrealistic price predictions.
Last month, he forecasted that the King Crypto would hit $350,000 by the end of August. At the current price, this would imply a 6x increase in a little over a month, an unlikely scenario.
Earlier this year, he predicted that Bitcoin would hit $100,000 by June 2024. The digital currency fell significantly short of the prognosis.
Price Action: At the time of writing, Bitcoin was trading at $57,342.81 down 1% in the last 24 hours, according to data from Benzinga Pro
#BTC☀ What’s next for Bitcoin price now that German gov't BTC balance hits zero?
The German government got rid of all of its Bitcoin, but it could still be a bit early to expect a trend reversal in BTC price.
On July 12, the X social network was aflame with multiple on-chain data outlets and independent analysts announcing that the German government’s Bitcoin wallets now have a zero balance. A portion of this group is suggesting that Bitcoin (BTC) price will go on an upward tear now that this assumed sell-pressure has been removed from the market.
Despite the news, Bitcoin price remains constrained within a tight range where $60,000 serves as resistance and $54,000 as support.
Let’s take a look at some of the technical factors behind Bitcoin’s recent price action.
Bear flag continuation and resistance at $60,000
Bitcoin’s breakdown from $60,000 confirmed the M-top (or double-top) and a pattern of bear flag continuation has set in. Note how the downtrend accelerates alongside increasing sell volume and attempted breakouts to the upside are capped by weak buy volume.Ideally, traders would want to see this pattern broken by a strong high volume push above the $60,000 level where the 61.8% Fibonacci retracement level resides and then a few daily candle closes above $60,000 to establish support at or above this level.
Bitcoin order book depth and liquidation levels
In crypto, price tends to go in the direction where the most liquidity lies and comparing the BTC/USD volume profile against Bitcoin’s order book depth in the 2% to 5% range its clear that price has been ping ponging between the bids around $54,000 to $57,000 and the block of asks sitting at $60,000.
The German government got rid of all of its Bitcoin, but it could still be a bit early to expect a trend reversal in BTC price.
On July 12, the X social network was aflame with multiple on-chain data outlets and independent analysts announcing that the German government’s Bitcoin wallets now have a zero balance. A portion of this group is suggesting that Bitcoin (BTC) price will go on an upward tear now that this assumed sell-pressure has been removed from the market.
Despite the news, Bitcoin price remains constrained within a tight range where $60,000 serves as resistance and $54,000 as support.
Let’s take a look at some of the technical factors behind Bitcoin’s recent price action.
Bear flag continuation and resistance at $60,000
Bitcoin’s breakdown from $60,000 confirmed the M-top (or double-top) and a pattern of bear flag continuation has set in. Note how the downtrend accelerates alongside increasing sell volume and attempted breakouts to the upside are capped by weak buy volume.Ideally, traders would want to see this pattern broken by a strong high volume push above the $60,000 level where the 61.8% Fibonacci retracement level resides and then a few daily candle closes above $60,000 to establish support at or above this level.
Bitcoin order book depth and liquidation levels
In crypto, price tends to go in the direction where the most liquidity lies and comparing the BTC/USD volume profile against Bitcoin’s order book depth in the 2% to 5% range its clear that price has been ping ponging between the bids around $54,000 to $57,000 and the block of asks sitting at $60,000.
XRP Dropz, a popular XRP community figure, calls attention to a new ad campaign from Ripple that highlights the company’s role in the evolution of the global financial system.
According to the ad, Ripple recognized the impact of crypto and blockchain in transforming global financial system operations. These emerging technologies present alternative solutions to traditional finance systems, offering a secure, decentralized, and transparent framework for conducting financial transactions.
With crypto and blockchain redefining the global financial scene, the ad emphasized that Ripple is positioned as a key player in developing the future infrastructure of the global economy via partnerships. #Xrp🔥🔥 #XRPGoal
According to the ad, Ripple recognized the impact of crypto and blockchain in transforming global financial system operations. These emerging technologies present alternative solutions to traditional finance systems, offering a secure, decentralized, and transparent framework for conducting financial transactions.
With crypto and blockchain redefining the global financial scene, the ad emphasized that Ripple is positioned as a key player in developing the future infrastructure of the global economy via partnerships. #Xrp🔥🔥 #XRPGoal
The enigmatic leader of the Shiba Inu (SHIB) ecosystem has broken the silence on his identity and the big vision he has for the ecosystem. For someone who has managed to stay elusive since the project started in 2020, Kusama granted his first interview to the media house Arabian Business. Advertisment #shiba⚡
Crypto liquidations should abate this month and the market is expected to rebound from August onward, JPMorgan (JPM) said in a research report on Wednesday.
The bank reduced its year-to-date crypto net flow estimate to $8 billion from $12 billion previously.
The Wall Street firm said it was skeptical that the prior estimate of $12 billion would continue for the rest of the year given how high bitcoin btc was relative to its production cost or relative to the price of gold, the report said.
“The reduction in the estimated net flow is largely driven by the decline in bitcoin reserves across exchanges over the past month,” analysts led by Nikolaos Panigirtzoglou wrote.
This decline in reserves is likely a reflection of bitcoin liquidations by creditors of Gemini or defunct crypto exchange Mt. Gox, or selling by the German government, which has been offloading crypto that it seized from criminal activities, the bank said.
The bank’s reduced estimate of $8 billion is comprised of a $14 billion net flow into crypto funds by July 9, Chicago Mercantile Exchange (CME) futures flows of $5 billion, $5.7 billion of fundraising by crypto venture capital funds year-to-date, minus a $17 billion adjustment to account for the rotation from wallets on exchanges to new spot bitcoin exchange-traded-funds (ETFs)
btc#BinanceTurns7 #BTC☀ #NOT🔥🔥🔥
The bank reduced its year-to-date crypto net flow estimate to $8 billion from $12 billion previously.
The Wall Street firm said it was skeptical that the prior estimate of $12 billion would continue for the rest of the year given how high bitcoin btc was relative to its production cost or relative to the price of gold, the report said.
“The reduction in the estimated net flow is largely driven by the decline in bitcoin reserves across exchanges over the past month,” analysts led by Nikolaos Panigirtzoglou wrote.
This decline in reserves is likely a reflection of bitcoin liquidations by creditors of Gemini or defunct crypto exchange Mt. Gox, or selling by the German government, which has been offloading crypto that it seized from criminal activities, the bank said.
The bank’s reduced estimate of $8 billion is comprised of a $14 billion net flow into crypto funds by July 9, Chicago Mercantile Exchange (CME) futures flows of $5 billion, $5.7 billion of fundraising by crypto venture capital funds year-to-date, minus a $17 billion adjustment to account for the rotation from wallets on exchanges to new spot bitcoin exchange-traded-funds (ETFs)
btc#BinanceTurns7 #BTC☀ #NOT🔥🔥🔥
I get the Stabal result with tradebotgpt.io and my binance account grow in bad market also see the result #NOT🔥🔥🔥 #btc #ada #CopyTradingDiscover
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