Tag: btc

CryptoDaily & StealthEX News Report: Bitcoin’s Rise, Global Trends & ETF Moves

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Discover the latest news from StealthEX and CryptoDaily! We’re excited to present a clear and concise summary of the top stories and movements in the crypto market. Keep up with important developments and influential figures. Curious about the top news in the cryptocurrency sphere this week? Get into the specifics right away!

CryptoDaily & StealthEX News Report: Bitcoin's Rise, Global Trends & ETF Moves

El Salvador’s Bold Bitcoin Strategy: A Long-Term Vision

El Salvador, under President Nayib Bukele’s leadership, is making headlines with its unwavering commitment to Bitcoin. The nation’s Bitcoin reserves have soared past $60 million, thanks to the cryptocurrency’s recent price surge. Yet, President Bukele has made it clear: El Salvador is not cashing out anytime soon.

In a world where Bitcoin’s volatility often leads to quick profits, El Salvador’s strategy stands out. The country began its Bitcoin journey in 2021, becoming the first to accept it as legal tender. Despite skepticism and the crypto industry’s ups and downs, El Salvador has accumulated over 2800 BTCs. This bold move has paid off, with the country’s Bitcoin investment now showing a potential profit of almost $41.6 million, a 40% return on investment.

The recent increase in Bitcoin’s price, partly due to the launch of several spot Bitcoin ETFs, has placed El Salvador in an enviable position. With Bitcoin’s value exceeding $60,000, the nation enjoys a significant unrealized profit margin. Each Bitcoin was acquired at an average cost of $42,440, highlighting the strategic foresight of El Salvador’s government.

El Salvador’s approach mirrors that of MicroStrategy, a company that has also heavily invested in Bitcoin. Both entities share a long-term vision, choosing to hold onto their Bitcoin reserves despite the tempting profits. This strategy reflects a deep belief in Bitcoin’s future potential and a disregard for short-term gains.

Governments Eye Bitcoin as the New Gold, Reveals Edward Snowden

Edward Snowden, the whistleblower known for the Prism Gate scandal, has recently made a groundbreaking claim. He suggests that a national government has been quietly accumulating Bitcoin, treating it as a modern alternative to traditional gold reserves. This revelation comes at a time when Bitcoin is gaining traction among retail investors, institutions, and now, potentially, sovereign governments.

Snowden’s prediction, shared on the social media platform X, hints at a significant shift in how countries might manage their wealth. The move towards Bitcoin by a national government, which remains unnamed, underscores the cryptocurrency’s growing acceptance and legitimacy. Snowden anticipates that this year, the government’s Bitcoin purchases will come to light, marking a pivotal moment in Bitcoin’s history.

This development is particularly noteworthy against the backdrop of increasing interest in cryptocurrencies, spurred further by the United States Securities and Exchange Commission’s approval of spot Bitcoin ETFs. Governments and major institutions worldwide are exploring the potential of cryptocurrencies and blockchain technology, signaling a potential shift from gold to Bitcoin as a reserve asset.

El Salvador’s example, as the first country to adopt Bitcoin as legal tender, illustrates the potential benefits of such a strategy. The nation has seen its Bitcoin investments increase in value, attracting tourists and investments. Snowden’s comments suggest that other governments might follow suit, drawn by the allure of Bitcoin as a secure and profitable reserve asset.

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Morgan Stanley Eyes Spot Bitcoin ETF, Signaling Crypto’s Mainstream Shift

Morgan Stanley, a titan in asset management with $1.3 trillion under its belt, is reportedly considering a groundbreaking move into the cryptocurrency space. The firm is exploring the possibility of offering a spot Bitcoin ETF to its clients. This development follows the green light from the United States Securities and Exchange Commission for spot Bitcoin ETFs in January, marking a significant milestone in the acceptance and integration of cryptocurrencies into traditional financial services.

The introduction of spot Bitcoin ETFs by broker-dealers like Morgan Stanley could usher in a new era of investment, attracting more funds into the cryptocurrency market. Currently, ten spot Bitcoin ETFs are trading in the U.S., including notable names like Grayscale’s GBTC, BlackRock’s IBIT, and Fidelity’s FBTC. Morgan Stanley’s entry into this space could significantly broaden the investor base for Bitcoin, enhancing its legitimacy and appeal.

The firm is conducting due diligence to ensure the smooth introduction of these ETFs to its clientele. The success of spot Bitcoin ETFs has been undeniable, with the IBTI Bitcoin ETF breaking daily trading volume records consecutively. The approval of these ETFs has coincided with a surge in Bitcoin’s price, now trading just shy of the $63,000 mark, highlighting the growing investor interest and confidence in cryptocurrency as a legitimate asset class.

Furthermore, Morgan Stanley’s Europe Opportunity Fund is contemplating allocating a portion of its assets to spot Bitcoin ETFs, with a cap of 25%. This move signifies a strategic diversification of investment portfolios to include cryptocurrencies, reflecting the sector’s potential for growth and returns.

MicroStrategy Bolsters Bitcoin Holdings with Additional 3K BTC Purchase

MicroStrategy, led by the visionary Michael Saylor, has once again demonstrated its unwavering belief in Bitcoin. The company recently announced the acquisition of an additional 3,000 BTC, amounting to approximately $155 million. This strategic move has increased MicroStrategy’s total Bitcoin holdings to an impressive 193,000 BTC.

The purchase, conducted between February 15 and February 25, 2024, was executed at an average price of $51,813 per Bitcoin, as detailed in an SEC filing. This acquisition not only underscores MicroStrategy’s commitment to Bitcoin but also highlights the company’s long-term investment strategy in the cryptocurrency space.

MicroStrategy’s Bitcoin strategy is a testament to Michael Saylor’s belief in the digital currency as the ultimate asset, surpassing traditional investment options. The company has entrusted 98% of its Bitcoin holdings to Fidelity Custody, ensuring robust security through a dual custodial strategy that also involves Coinbase Prime.

The impact of the recently approved Bitcoin ETFs on MicroStrategy’s stock (MSTR) seems negligible to Saylor. Following the announcement of the latest Bitcoin purchase, MSTR stock saw a 1.71% increase. The company’s stock performance has been remarkable, with a 39% increase over the past month and a staggering 316% since the beginning of 2023. This success is partly attributed to the surge in Bitcoin’s value, highlighting the symbiotic relationship between MicroStrategy’s investment strategy and the cryptocurrency’s market performance.

Ethereum’s Dencun Upgrade: A Leap Towards Scalability

The Ethereum Foundation has announced a significant milestone in the blockchain’s journey towards greater scalability and efficiency. The Dencun network upgrade, a pivotal development in Ethereum’s roadmap, has been successfully activated across all testnets. This upgrade is set to go live on the mainnet on March 13, marking a crucial step forward for the Ethereum ecosystem.

Dencun introduces proto-danksharding to Ethereum, a feature that promises to enhance the blockchain’s capacity to handle transactions. By allowing rollups to add “blobs” of data on a beacon node, Dencun aims to significantly reduce the cost of transactions. These blobs, while temporarily stored, are not accessible to the Ethereum Virtual Machine (EVM) and are automatically deleted after one to three months. This mechanism ensures that rollups can transmit data more affordably, ultimately benefiting end-users with cheaper transaction fees.

The upgrade’s name, Dencun, is a blend of Deneb—a star—and Cancun, the location of Devcon 3, reflecting the Ethereum community’s tradition of creatively naming its upgrades. The activation of Dencun on the mainnet is scheduled for epoch 269568, at 13:55 UTC, or 8:55 am ET, on March 13.

For this upgrade to be smoothly integrated, stakers are required to update their beacon nodes and validator clients to ensure compatibility. As of February 22, all client teams, except Lodestar, have released their final software versions in preparation for the Dencun upgrade.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.

Tags: Bitcoin Bitcoin ETF BTC ETF Ethereum

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The Top Five Charts of 2023

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KEY

TAKEAWAYS

  • 2023 was dominated by mega cap growth stocks, but the fourth quarter saw a potential change as other sectors experienced renewed vigor.
  • Three breadth indicators provided great clarity to the up and down cycles over the course of the year, as extreme readings tended to coincide with major turning points.
  • Interest rates remain top of mind as a pullback in the Ten Year Treasury Yield certainly seemed to provide support to the recent rally for stocks.

The end of the year provides a natural opportunity to look back and reflect on what we learned over the last 12 months as investors. I very much enjoyed thinking about how to tell the story of this market in just five charts, and to be completely honest, the videos below include way more than that!

But as much we love to make things more complicated for ourselves, mindful investors know that simple is often the best approach. So, by boiling down this year into five major themes and using these charts as a starting point to a deeper analysis of each, I found it to be a rewarding and at times eye-opening experience.

You can access the full playlist of the Top Five Charts on our YouTube channel, and you are welcome to ChartList I used during the videos, which you can find right HERE!

Without further ado, here are the five charts I selected, along with descriptions and video links. I hope you can use these as inspiration for your own year-end process and performance review!

Chart #1: S&P 500

As Ralph Acampora told me years ago, “Always start with a simple chart of the S&P 500.” And it’s been a fascinating year to do so, with each quarter providing a unique experience for investors, including plenty of ups and downs.

Looking back, I’m struck by what a sideways market we experienced really through the end of May. The S&P started with a strong January, but subsequent months basically brought retests of previous highs and previous lows, and no real indication of bullishness or bearishness on the larger timeframe.

June’s breakout provided a perfect example of the bearish momentum divergence, as negative momentum into the July high indicated an exhaustion of buyers. I also find myself focusing in on the October low, which caused me to be quite bearish at the time. That was definitely one of my key lessons learned in 2023, especially the importance of recognizing a clear change of character in November.

Chart #2: Ten Year Treasury Yield

Back in January 2023, I was asked during an interview to identify the most important chart to watch in 2023. I answered this chart, the Ten Year Treasury Yield ($TNX), along with the value vs. growth ratio. My thesis was that many investors had not experienced a rising rate environment (including me!), so this could mean some painful lessons as value outperformed growth as interest rates pushed higher.

As the chart clearly shows, the Ten Year Yield going from around 4% to 5%, completing a long journey from almost zero rates not long ago, did not provide the tailwind for value stocks that I expected. What a beautiful testament to the benefits of including macroeconomic analysis as part of a holistic investment approach, but also the importance of focusing on the evidence of price itself. If the charts say growth is outperforming, I’m going to want to stick with growth until proven otherwise.

Chart #3: Market Breadth

Breadth analysis is an essential component to my analytical process, as it addresses the issues related to our growth-oriented benchmarks being dominated by a small number of mega-cap stocks.

This chart includes three different breadth indicators: the S&P 500 Bullish Percent Index, the Percent of Stocks Above the 50-day Moving Average, and the McClellan Oscillator. With the first two indicators at 80% and 90%, respectively, this suggests a potential exhaustion point to the current upswing, similar to what we observed in July 2023, November 2022, and August 2022.

Chart #4: Leadership Themes

I have been thinking of 2023 as the year of mega-cap growth, but this fourth chart that it actually wasn’t about growth over value, but rather large over small. Reviewing the nine Morningstar style boxes, it’s clear that, while growth did indeed outperform value, it was overall more of large vs. small story.

Large-cap growth has outperformed large-cap value by almost 900 basis points (nine percent), but has outperformed mid-cap and small-cap style boxes by around 1300 basis points. Our benchmarks have been powering higher, propelled by the strength of large-cap growth, and one of the most important questions for 2024 will be whether this stretch of domination will continue.

Chart #5: Bitcoin

Higher highs and higher lows make an uptrend. And while Bitcoin ($BTCUSD) did not show that general pattern in the middle of 2023, it started the year strong and certainly ended the year in a position of strength.

Bitcoin has nearly tripled in value since December 2022, starting with a significant rally into an April high. But from March through October, Bitcoin basically was rangebound between 25,000 and 31,000. I remember laying out a game plan, which involved following the price momentum fueling any exit from that range. Sure enough, in October, we witnessed an upside breakout inspired by renewed optimism for a potential announcement confirming new spot Bitcoin ETFs. While that news has not yet arrived, the bullish uptrend shows that investors remain eager for this huge potential catalyst.

During my years in the Fidelity Chart Room, I was often reminded that charts can tell the best stories about market history. And as each new year concludes, the charts can provide a fantastic report card for your performance, a history textbook filled with practical lessons for years to come, and a reminder of the value of technical analysis in helping us identify opportunities and manage risk.

I hope these discussions inspire you to have a thorough review session as we wrap 2023, and an honest assessment of how you can improve your investing toolkit in 2024.

Happy holidays, thank you for making StockCharts a part of your process, and I’ll look forward to more great charts and conversations in the new year!

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!

David Keller, CMT

Chief Market Strategist

StockCharts.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

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Bitcoin Price Prediction 2023, 2024, 2025, 2030: What to Expect from the First Cryptocurrency?

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Bitcoin Price Prediction

Bitcoin has always been the main cryptocurrency, whose price has been changing over the years. Let’s paint a multifaceted picture of token changes and understand what factors influence BTC to get a comprehensive Bitcoin price prediction.

Bitcoin Overview

Bitcoin, once a novel concept within tech circles, has earned its place among both retail and institutional investment portfolios, marking its burgeoning legitimacy and disruptive potential in finance.

Its trading profile is marked by stark volatility — a magnet for those chasing significant returns but a red flag for the risk-wary. This unpredictability is influenced by diverse elements, from tech innovation to regulatory changes and broader economic indicators.

Current Price $35,420
Market Cap $691.9B
Volume (24h) $16.93B
Market Rank #1
Circulating Supply 19.54M BTC
Total Supply 19.54M BTC
1 Month High / Low $35,720.08 / $26,626.92
All-Time High $68,789.63 Nov 10, 2021

Investment perspectives on Bitcoin are polarized. It’s a vehicle for short-term speculation as well as a long-term asset, bolstered by its limited supply and growing demand.

Today’s Bitcoin milieu is tinged with careful optimism. While global economic shifts impact it, Bitcoin’s consistent rebound from downturns reveals its grit and evolution. The “halving” events, periodically reducing miner rewards, inject a deflationary aspect to its allure for long-haul investors.

BTC Price History 

Throughout 2010, Bitcoin’s value lingered below $1, but in 2011, it finally hit that mark. Coverage by niche publications like Slashdot and Hacker News boosted its profile, which correlated with a significant increase in network hash rate from 401 to 628 gigahashes per second between February 25 and 27, 2011, though it soon fell to 392 and then climbed back up to 774 gigahashes per second.

In April 2011, TIME magazine spotlighted Bitcoin, which helped propel its value to $32 by June — only to fall back to $10 shortly after. WikiLeaks also started accepting Bitcoin donations that month. However, after a security breach at Mt.Gox, Bitcoin’s value plummeted from $17 to a mere $0.01. The following year, it recovered to $4.6 and closed at $13.44, marking the year of Bitcoin’s first halving.

By 2013, Bitcoin hit the $1,000 milestone, peaking at $1,153 on November 30. It wouldn’t surpass this level until January 5, 2017. In 2014, Mt.Gox suffered another hack, with 744,000 Bitcoins stolen. 2016 saw another halving and the Bitfinex hack, resulting in a loss of 120,000 Bitcoins.

The onset of 2017 saw Bitcoin at $960, but by December, it had soared to an all-time high of $19,483, pushing its market capitalization beyond $330 billion. However, 2018 was tumultuous, with the value dropping from $13,800 at the start to just $3,800 by year’s end, including a significant dip to $9,800 on January 17.

BTC Price Chart

BTC price chart

BTC Price History. Source: CoinMarketCap, 8 Noveber 2023

In June 2019, Bitcoin briefly reached $13,785, coinciding with the anticipated launch of Bakkt. Despite this, the platform’s underwhelming appeal to institutional investors saw Bitcoin’s value slide from $10,036 to $6,657 within months.

2020’s volatility was no less dramatic, with Bitcoin fluctuating from $7.2 thousand in January to $10.5 thousand in February and then plummeting to $3.8 thousand. By December, it had rallied to $19,000. In 2021, Bitcoin continually reached new heights, from $40,700 in January to a staggering $61,100 by March, peaking at $63,600 in April before declining and rebounding in a turbulent pattern throughout the year.

The end of September 2021 marked another bullish trend, with Bitcoin jumping to $50 thousand and eventually reaching a peak of $66.4 thousand on October 20. Early November saw a slight retreat to $65.8 thousand.

2022 brought further shifts influenced by geopolitical and economic factors. Unrest in Kazakhstan, a hub for Bitcoin mining, triggered a drop in value. Decisions by the US Federal Reserve to hike interest rates and reduce the central bank’s balance contributed to the decline, aligning with predictions of a tougher monetary stance by Goldman Sachs.

The year continued with fluctuating values, from a high of $48,000 in March to a low of $33.4 thousand, the weakest since the previous summer. In May, a stark drop to $28 thousand was followed by a plunge to $19 thousand. On June 18, the coin’s value sank to $17 thousand, marking an $800 billion decline in crypto capitalization, further compounded by the collapse of LUNA and TerraUSD and the bankruptcy of the FTX exchange, culminating in a trading value of $29,000 for Bitcoin.

The price started slightly declining in August 2023 and reached the $26,000 mark. It stayed on the same level until the middle of October. Then it began reaching new heights quite quickly. As of now, it’s over $35,000.

Bitcoin Price Predictions

Bitcoin (BTC) Price Prediction 2023

According to PricePrediction, BTC will keep growing until the end of this year. Already in November, it can reach $35,669 (+2.83%), and it will finish 2023 at the $37,299 mark (+7.53%).

Bitcoin Price Prediction 2023

WalletInvestor is even more optimistic about the token, saying BTC will step over the $40 thousand mark (+15.3%) this December, and its final price will be $41,659 (+20.1%).

PricePredictions experts have the highest expectations for the coin. They believe that the minimum BTC price in December 2023 will be $41,645 (+20.06%). However, in the case of positive changes, it will grow to $62,468 (+80.1%).

Bitcoin Price Prediction 2024

Most experts suppose that this rise will continue in 2024. PricePrediction believes BTC will cost from $39,224 (+13.1%) to $44,950 (+29.59%) in July, and the lowest price for December will be $45,732 (+31.8%). However, if the coin meets expectations, it will reach $55,310 (+59.46%) by the same time. 

CoinCodex is even more positive about Bitcoin. Although it says that its yearly low will be just $29,439 (-15.12%), it also believes that it will reach $129,127 (+272.28%).

WalletInvestor isn’t so sure about the future of BTC. According to the analysis, its price will be around $26,000 (-25%) in August 2024. The end of the year will be even more pessimistic, as the average cost per coin will decrease to $23,664 (-31.77%).

Bitcoin Price Prediction 2025

As per PricePrediction’s forecast, BTC won’t stop growing in 2025. The year will start at about $49,764 (+43.47%) and finish at $68,191 (+96.6%).

PricePredictions has an even more optimistic outlook on BTC. In January 2025, its minimum price will be over $88,000 (+153.7%), and it’ll reach $100 thousand (+188.3%) in June. Bitcoin will grow to $111,118 (+220.36%) in December, according to the most negative scenario. As for the more optimistic outcome, it’ll get to $131,953 (+280.4%) by the same time. 

Yet, WalletInvestor still supposes the token won’t reach new heights in 2025. BTC will start the year at the 23-thousand-dollar mark (-33.68%). Then the price will slightly decline, bringing Bitcoin to $14,553 (-58.04%) in December.

Bitcoin Price Prediction 2026

Most predictions for 2026 are still optimistic. CoinCodex expects BTC to cost at least $78,579 (+126.5%). As for their positive scenario, the token will get to $105,580 (+204.39%) that year.

PricePredictions agrees with this opinion. It considers that the lowest price of BTC in 2026 will be $123,330 (+255.57%) in January. It will reach its highest point in December, costing from $145,502 (+319.49%) to $166,288 (+379.42%).

But WalletInvestor doesn’t believe BTC will get to such a level. The coin will decrease to $9,895 (-71.47%) in May 2026 and will keep getting lower. Its approximate price at the end of the year will be $5,383 (-84.48%).

Bitcoin Price Prediction 2030

Most analysts are sure that BTC will get over the six-figure mark in 2030. According to PricePredictions, it will be around $294,989 (+750.48%).

CoinCodex isn’t so optimistic, but it still believes that the coin will cost from $144,803 (+317.48%) to $266,445 (+668.18%) in 2030.

DigitalCoinPrice considers the most positive scenario. As its experts say, the lowest price will be $337,720 (+873.67%), but its highest point will be $361,970 (+943.59%).

BTC USDT Price Technical Analysis

BTC USDT

Source: Tradingview, 8 November 2023

BTC Price Predictions: Experts’ Opinions

Many experts harbor a bullish outlook for Bitcoin as we approach 2024, a period that’s slated to mark the next Bitcoin halving event. It’s a significant occurrence that unfolds every four years, where the rewards granted to Bitcoin miners are slashed by half — this time, reducing from 6.25 to 3.125 BTC. 

The potential approval of a spot Bitcoin Exchange-Traded Fund (ETF) by the end of 2024 is a topic of consensus among approximately 80% of analysts. Should such an approval come to fruition, it’s expected to further fuel Bitcoin’s price growth into 2025. Opinions vary, though; while 60% of experts agree that the approval of a spot Bitcoin ETF would likely propel the cryptocurrency’s value upward, 47% are even more optimistic. Those experts project that, should the ETF be greenlighted, Bitcoin could surpass its previous all-time high before the close of 2025.

Echoing this sentiment from a corporate perspective is Andrew Kang, the Chief Financial Officer of MicroStrategy. He articulates the company’s unwavering resolve to continue acquiring and holding Bitcoin. This stance is buttressed by what he refers to as the “promising backdrop of increased institutional adoption,” signaling a robust confidence in the cryptocurrency’s growth.

Factors Affecting BTC Price

Market demand is a primary driver. This demand is shaped by public perception of the intrinsic value of Bitcoin, which can be swayed by media coverage, investor sentiment, and the adoption of cryptocurrency by mainstream finance.

Regulatory developments are crucial. As governments grapple with how to approach cryptocurrency regulation, their policies can encourage a thriving market or instigate volatility. 

Also, halving events introduce new scarcity to Bitcoin’s supply dynamics, leading to price increases as supply tightens and demand grows.

Summary

Overall, while the predictions are varied, with some anticipating substantial growth and others advocating caution, one thing is certain: Bitcoin’s role in the financial sector is transformative, and if it meets expert expectations, it will keep reaching new highs annually.

FAQ — Is It Still Good to Invest in Bitcoin?

BTC has potential for growth, making it a profitable investment for the next few years.

Will Bitcoin Price Fall in 2023?

According to most analysts, it will rise and even reach $62,468 in some forecasts.

Why Will Bitcoin Go Up in 2023?

The main reason for the growth is the expectation of BTC halving in 2024.

How Much Will Bitcoin Be Worth in 2025?

Predictions vary widely, with some optimistic scenarios suggesting it could surpass $100,000.

How Much Will 1 Bitcoin Be Worth in 2026?

Estimates for Bitcoin in 2026 suggest a range from a continued bullish trend above $146,000 to more conservative estimates of around $10,000.

What Will Be the Price of Bitcoin in the Next 5 Years?

In the next five years, Bitcoin’s price could see significant growth, potentially reaching six figures.

What Will $100 of Bitcoin Be Worth in 2030?

If Bitcoin continues its growth trend, it will reach $361,970 that year.

How Much Bitcoin Is Worth in 2050?

If the positive trend continues, it will reach the $500 thousand mark per token.

Where to Buy Bitcoin (BTC)?

StealthEX is here to help you buy Bitcoin. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1400 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy BTC Coin?

Just go to StealthEX and follow these easy steps:

  1. Choose the pair and the amount you want to exchange. For instance, ETH to BTC.
  2. Press the “Start exchange” button.
  3. Provide the recipient address to transfer your crypto to.
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  5. Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.

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StealthEX x CryptoDaily: Tesla, Bitcoin, and Bank of America News

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Welcome to the crypto news digest, brought to you by StealthEX in partnership with CryptoDaily. Together, we’ve handpicked and summarized the key events and happenings from the past week in the crypto space. Our goal is to keep you informed and up-to-date. Dive in to get the latest and most relevant news updates from the world of crypto.

StealthEX x CryptoDaily Digest

Tesla Maintains Bitcoin Holdings in Q3

In a surprising move, Tesla, the electric car behemoth, has decided to hold onto its Bitcoin investments during the third quarter of 2023. Financial analysts closely watched Tesla’s cryptocurrency strategy; many speculated a potential sale or further acquisition. The company’s recent financial report highlighted that there has been no significant change in its Bitcoin holdings, confirming the speculations of some market experts.

The decision comes when the crypto market is experiencing high volatility. Tesla’s initial investment in Bitcoin had garnered mixed reactions, with some praising the company’s forward-thinking approach while others criticized the potential environmental impact of mining activities. The company’s decision to hold onto its investment is a vote of confidence in Bitcoin’s long-term potential.

Several factors may have influenced Tesla’s decision. The company may be betting on the long-term appreciation of Bitcoin. Alternatively, Tesla may take a more conservative approach, waiting for a more opportune moment to change its investment strategy. Whatever the reason, the market will closely monitor Tesla’s cryptocurrency moves in the coming months.

Bank of America Faces Significant Unrealized Losses

The financial world was recently abuzz with news about Bank of America’s significant unrealized losses. As one of the leading financial institutions in the world, any movement in its financial health is closely scrutinized by experts and investors.

According to recent reports, these unrealized losses have been attributed to some high-risk investments and strategies adopted by the bank. The exact nature and specifics of these investments remain undisclosed. However, financial analysts believe that a combination of traditional and digital asset investments might be the reason behind the losses.

This situation has raised concerns about the broader implications for the banking industry. Some experts argue that this could indicate underlying vulnerabilities in the global financial system, especially if other major banks are also exposed to similar high-risk assets.

The news has also sparked debates about the role of regulatory bodies in monitoring and guiding banking activities. Many call for increased transparency and stricter regulations to ensure that banks operate within safe boundaries, minimizing risks to the global economy.

Bank of America’s leadership is expected to address these concerns in the coming weeks, clarifying the situation and outlining measures to mitigate potential future losses.

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Bitcoin Experiences “God Candle” Amidst Fake News

The cryptocurrency market recently witnessed a rollercoaster of emotions when Bitcoin, the world’s premier digital currency, experienced what traders colloquially refer to as a “God Candle.” This term denotes a sudden and significant price spike, only to crash back shortly after.

This dramatic price movement was reportedly triggered by a wave of fake news circulating online. The specifics of the information remain undisclosed, but it was potent enough to cause a frenzy among seasoned traders and new entrants. The rapid influx of investments, driven by this misinformation, led to a brief surge in Bitcoin’s value.

However, as the truth emerged and the fake news was debunked, the market corrected itself, leading to a sharp decline in Bitcoin’s price. Such events highlight the sensitivity of the cryptocurrency market to news and rumors, emphasizing the importance of accurate information and due diligence.

Uniswap Introduces 0.15% Swap Fees

Uniswap, one of the most prominent decentralized finance (DeFi) platforms, has recently made waves in the crypto community by announcing its decision to implement a 0.15% fee on all swaps. This move marks a significant shift from the platform’s previous fee structure, one of the lowest in the DeFi space.

The decision to adjust the fee structure comes amidst growing concerns about network congestion and rising gas fees on the Ethereum blockchain, which powers Uniswap. The new fee is expected to provide a more sustainable revenue model for the platform while also helping to manage the increased demand for its services.

Users and traders on Uniswap have had mixed reactions to the news. While some understand the necessity of the fee increase for the platform’s long-term sustainability, others are concerned about the potential impact on small-scale trades, which might become less profitable due to the added fees.

Nevertheless, Uniswap’s leadership has emphasized that this move is in the best interest of the platform’s future. They believe the new fee structure will ensure better service quality, faster transaction speeds, and a more robust ecosystem for all users.

SUI Token Faces Sharp Decline Amidst Market Manipulation Allegations

In recent events, the SUI token, a previously rising star in the crypto market, has experienced a sharp decline in value. The plunge in price comes on the heels of allegations surrounding market manipulation involving the token.

Key players in the crypto ecosystem may have artificially inflated the token’s price through coordinated buying and selling strategies. Though not yet confirmed, these allegations have cast a shadow of doubt over the token’s credibility and underlying project.

The crypto community has responded cautiously, with many traders and investors pulling out of their SUI positions. This mass exodus has further exacerbated the token’s price drop, creating a ripple effect of decreasing investor confidence.

Regulatory bodies and crypto watchdogs are expected to delve deeper into the matter to clarify the situation and ensure that any malpractices are addressed. The outcome of these investigations will play a crucial role in determining the future trajectory of the SUI token and its acceptance within the broader crypto community.

Reddit Discontinues Crypto Rewards Program

Reddit, the popular online community platform, has taken a significant step back from the crypto world by discontinuing its much-talked-about crypto rewards program. The initiative, aimed at incentivizing user engagement and content creation, allowed members to earn crypto tokens for their contributions to the platform.

The decision to halt the program has taken many by surprise, especially considering the growing integration of cryptocurrency in various online platforms. Reddit’s management has not provided a detailed explanation for the move but hinted at reassessing the platform’s broader strategy concerning digital assets.

User reactions have been mixed. While some appreciate the platform’s cautious approach to crypto, especially given the volatile nature of digital currencies, others express disappointment, viewing the rewards program as a progressive step towards mainstream crypto adoption.

The discontinuation raises questions about the future of crypto integration in mainstream platforms. While many online services have embraced digital currencies, Reddit’s move might prompt other platforms to reconsider their stance.

Roblox Refutes Claims of XRP Integration

Roblox Corporation, the company behind the immensely popular online gaming platform Roblox, has publicly denied rumors suggesting an integration with the cryptocurrency XRP. Speculations had been rife within the crypto community, with many believing that Roblox was on the verge of incorporating XRP transactions within its platform.

The rumor mill went into overdrive after a series of online posts hinted at a potential partnership between Roblox and Ripple, the company that oversees XRP. However, Roblox’s official statement has put all speculations to rest, confirming that there are no plans for such an integration now.

The crypto community’s reaction to the news has been varied. While some express disappointment, hoping for a mainstream platform like Roblox to adopt cryptocurrency transactions, others appreciate the company’s transparency in addressing the rumors promptly.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.

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The Future of Bitcoin: A Complete Guide to BTC Crypto Forecasts

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What if we told you Bitcoin could literally collapse overnight? How would it change your world and the face of modern finance? The financial industry was expected to undergo a change when Bitcoin was first introduced to the public more than ten years ago. However, that revolution hasn’t really happened yet. The first ten years of cryptocurrencies have been turbulent, with plenty of controversy, mistakes, and price swings. By the end of November 2022, BTC had dropped by 75% to about $17,200 from its record-high price of almost $69,000 in November 2021. At the moment, its price fluctuates around $27,500. The burning question on everybody’s lips today is: What is the future of Bitcoin?

Overview: The Turbulent History of Bitcoin

The first cryptocurrency to be established, Bitcoin is currently the most valued and well-known digital asset in the world. It first appeared in January 2009 under the alias Satoshi Nakamoto by an individual or group of computer programmers whose real identity has never been established. 

The blockchain technology that will support the cryptocurrency market was first described in a white paper written in 2008 by Bitcoin’s enigmatic inventor. In order to secure data, a network of computer systems is connected to create a blockchain, which is a digital log of transactions.

Nakamoto set a limit on the initial Bitcoin supply. There could only ever be 21 million coins in circulation at one time. There were 19.45 million Bitcoins in circulation as of August 7 and 1.55 million more needed to be mined. The supply cap of 21 million Bitcoins will not be reached until the year 2140, according to experts, because Bitcoin mining companies constantly reduce the incentives for mining each block in half. This is a process known as ‘Bitcoin halving.’ It is estimated that between 10% and 20% of BTC have been permanently lost when owners unintentionally threw away private storage keys or discarded their wallets.

Nakamoto released Bitcoin in 2009, mined over 1.1 million of them, then vanished in 2010. Gavin Andresen, formerly known as Gavin Bell, took up development from him, working to make Bitcoin’s decentralized ideal a reality. This indicated that there was no administrator, server, storage, or central authority. The blockchain was distributed to everyone, and all participants interacted peer-to-peer. The network was only there to verify and validate the transactions. As a result of the increased uncertainty caused by these actions, Bitcoin’s price fell.

The Volatility of Bitcoin: A Price Analysis

The first Bitcoin real-world transaction occurred on May 22, 2010, a date known to Bitcoin enthusiasts now as Bitcoin Pizza Day. Laszlo Hanyecz paid 10,000 BTC to have two Papa Johns pizzas delivered to him. The pizzas retailed for about $25. At the peak of Bitcoin’s pricing in 2021, the two pizzas would have cost around $680 million. 

BTC Price Chart

Bitcoin Price Chart. Source: Coinmarketcap

Today, part of the extreme volatility in Bitcoin comes from the Gartner Hype Cycle, a life cycle common among new and innovative technologies. There are five stages: the innovation trigger, the pinnacle of exaggerated expectations, the trough of disillusionment, the slope of enlightenment, and the plateau of productivity. Economic circumstances can affect Bitcoin’s price, as demonstrated during the COVID-19 pandemic.

BTCUSD technical analysis

BTCUSD technical analysis. Source: TradingView

Bitcoin Adoption and Wider Use

Supporters of Bitcoin point out that more and more institutions, nations, and platforms are embracing virtual money, and they hope that Bitcoin will one day replace the dollar as the world’s reserve currency. 

Despite the fact that certain nations, most notably China, have outlawed Bitcoin and other cryptocurrencies, other nations continue to embrace them. Certain nations have even actively started trading in Bitcoin. In 2021, El Salvador made BTC its official currency to address severe economic problems. Unfortunately, the value of Bitcoin has since fallen dramatically, the nation is still having trouble paying its debts, and there has been little enthusiasm among the general population.

Bitcoin’s potential effects on climate change have also stirred up discussion. 

Bitcoin mining uses a lot of electricity and contributes 0.1% to global greenhouse gas emissions. The Cambridge Bitcoin Electricity Consumption Index (CEBCI), published by the University of Cambridge, puts the greenhouse gas emissions associated with Bitcoin at roughly 70 metric tonnes of carbon dioxide equivalent each year. This information contributed to the appearance of ‘greener’ cryptocurrencies, such as Chia, Cardano, etc.

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Bitcoin Use Cases

Bitcoin has a number of popular use cases:

  • Digital payments. A new era of digital transactions and online payment options has arrived with the advent of the digital age. One of the most widely used digital currencies today, Bitcoin has the power to completely change the way consumers pay for goods and services. Users can securely transfer money using Bitcoin without the help of conventional financial institutions. Its decentralized structure also aids in preventing concerns with online payments including fraud, duplicate spending, and other problems. Bitcoin is the perfect option for anyone who wants to buy goods or services without utilizing a bank account. Even more unexpectedly, some businesses provide discounts to customers who pay with it, making it a fantastic option for users on a tight budget.
  • Store of value. Bitcoin can be used as a store of value in addition to being used to purchase video games. As a result, people can utilize Bitcoin to accumulate money that they can hold for a very long time. This makes it a desirable choice for people who want to safeguard their funds against erratic economic factors. Additionally, it makes it simpler for users to buy and sell Bitcoin without having to worry about the price or duration of a currency exchange.
  • Anti-censorship. Due to its decentralized structure, Bitcoin is excellent at avoiding censorship. It is nearly impossible to censor or ban specific transactions when there is no central body regulating transactions. Bypassing censorship and limitations imposed on conventional financial systems, enables users to make decisions without worrying about the consequences. Further preventing censorship from outside meddling is the peer-to-peer nature of Bitcoin, which guarantees that transactions remain secret and secure.
  • Smart Contracts. The potential uses of blockchain technology, which has risen in popularity in recent years, are numerous. The usage of smart contracts, which allow two or more parties to carry out a contract without the assistance of a third party, is one of blockchain technology’s most potential uses. One of the most widely used cryptocurrencies, Bitcoin, can now be used as a medium of exchange for smart contracts. This has made it possible for people and companies to take advantage of the opportunities that come with making blockchain transactions more safe, transparent, and effective.

The Future of Bitcoin: Is It Worth to Hope for the Big Break?

What will happen to Bitcoin in the next decade? That is the question that everyone wants to know the answer to. In the first half of 2023, the price of Bitcoin underwent a stunning turnaround, rising by 55%, probably indicating the end of the crypto winter. But recently, the cryptocurrency’s price momentum has stopped, leaving traders unsure about its course. BTC started to turn around in January 2023, rising an astonishing 83% by April 10th to a peak of $31,035. This accomplishment also signaled a temporary ascent above a significant resistance level at $30,000. 

Since April, the price of Bitcoin has been bouncing back and forth between the $27,000 support level and the $30,000 resistance level. Consecutive lower lows were reached by the coin, and there were sporadic breakdowns below the support level. Just recently, the price of BTC has dropped below $26,000.

What will actually happen to the Bitcoin market in 2023-2024 and beyond is impossible to predict. But as the market develops, we all need to pay attention to the following aspects:

  • International and domestic regulation.
  • Adoption of Bitcoin payments on a large scale.
  • Exchange-traded funds based on Bitcoin and other digital currencies.
  • Nations that have endorsed Bitcoin (or other digital currencies) as legal money.
  • Bitcoin Halving that has always preceded a new bull market.

The Positive Scenario

Bitcoin supporters frequently make bold and perhaps improbable predictions for the cryptocurrency. Following this most recent mini-bull run, speculation has started to spread that BTC might rise to $1 million by the year 2025. Several well-known individuals in the cryptocurrency industry have reiterated this fictitious amount of $1 million. In order for that to occur, there would need to be a global hyperinflation, which would reduce the value of the dollar and cause individuals to use Bitcoin as a hedge against their country’s currency falling in value. 

Popular analysts and entrepreneurs like Robert Kiyosaki have long predicted the Bitcoin price to rise and surpass the $100,000 mark. 

I love Bitcoin because I do not trust Fed, Treasury, or Wall Street

R.Kiyosaki

Tim Draper, another popular figure in the world of finance, claims that Bitcoin will likely hit $250,000 within 2 years from now. 

So much for my predictive abilities…It is June 30, 2023. When Bitcoin was $4000, I predicted it would reach $250k (60X) by now.

Tim Draper

Not so long ago, in response to a Twitter question asking where the Bitcoin price will be in a year, Tesla billionaire Elon Musk has predicted Bitcoin ‘will make it’ but warned its price could be in for a ‘long winter.’

Many financial institutions also expect the first cryptocurrency to rise in price. According to Matrixport, a provider of cryptocurrency services and one of the few companies to turn bullish on BTC late last year, Bitcoin is now expected to rise to as high as $125,000 by the end of 2024. In July 2023, Standard Chartered predicted that Bitcoin could reach $50,000 this year and $120,000 by the end of 2024.

The Negative Scenario

So how long will Bitcoin survive in the negative scenario? While some investors continue to be bullish about the future of Bitcoin, there is another set of investors, corporations, and major institutions that have a different outlook and are adamant that the value of Bitcoins may soon collapse. They believe that the current spike was only a ‘bull trap’ and not a true ‘bull run.’ According to some experts, Bitcoin’s anticipated fast recovery may be hampered in the near future by the environment of rising interest rates and tighter monetary policy. Investors may be less likely to purchase hazardous assets like Bitcoin in such volatile environments. 

Additionally, some BTC investors who have held their investments for a long time might decide to liquidate them, which would put more negative pressure on the markets. One of them is Tesla, an electric car maker, that did not buy or sell any Bitcoin for the fourth straight quarter in Q2 2023. Last year, the carmaker sold more than 30,000 BTC, or roughly 75% of its holdings, for $936 million.

Bitcoin is also faced with many challenges, for instance, as the regulations become tighter, the international governments collectively may forbid Bitcoin transactions, effectively bringing its value down to $0. The digital coin would lose all value if it was impossible to use, trade, or own. It is also possible that a newer digital currency with greater technology will replace Bitcoin mining overnight. The value of Bitcoin may suffer significantly if a more sophisticated alternative is introduced that offers higher levels of security, quicker transaction times, improved privacy safeguards, or even less energy use.

Bitcoin Price Prediction 2023, 2025, 2030, 2040, 2050

While the future of Bitcoin remains uncertain, some crypto experts still attempt to forecast what awaits the most well-known cryptocurrency. For instance, DigitalCoinPrice states that in 2023, Bitcoin might go as high as $57,277.12 or as low as $23,297.72.

Another source, PricePrediction, believes that in 2025, Bitcoin’s price may fall as low as $66,295.68 or rise to $78,762.53. And there is more to come. ARK Invest maintains prediction Bitcoin price will hit $1M by 2030.

With many experts claiming that Bitcoin is going to continue rising in price, Telegaon expects that by 2040, the lowest price Bitcoin will hit is $304,543.18, while it can also hit a staggering $418,512.87 at its highest point. The website also gives a forecast for 2050, when Bitcoin’s price is expected to exceed $500,000. According to Telegaon, in 2040, its lowest price can hit $609,315.82 and it can also reach its all-time high at $678,174.28.

FAQ – Bitcoin

What Is Bitcoin? Who Created BTC Crypto?

Bitcoin is the world’s largest cryptocurrency. Satoshi Nakamoto is the name of the individual or group credited with inventing Bitcoin.

Is Bitcoin a Good Investment?

Cryptocurrencies are very volatile, so, depending on your investment strategy, they might make a good or a bad investment.

How Can I Buy and Store Bitcoin Safely?

Buying Bitcoin is simple and easy via StealthEX, it requires you neither to sign up with the platform, nor your ID. If you want to store your Bitcoin, there are different types of secure wallet options you can go with, including crypto exchanges, cold storage wallets, and non-custodial wallets. 

Why Is Bitcoin So Volatile?

The limited supply of Bitcoin and rising demand can cause abrupt price swings.

Is Bitcoin Legal and How Is It Regulated?

Cryptocurrency exchanges are legal in many countries. Regulations for Bitcoin are still in the process of being introduced, and while a number of countries support it, some banned it. 

What Is Blockchain Technology and How Does It Support Bitcoin?

Blockchain enables Bitcoin and other cryptocurrencies to function in a decentralized manner by dispersing its activities across a network of computers. 

Is Bitcoin Environmentally Friendly?

Bitcoin significantly worsens the climate on Earth. Bitcoins are created through a labor- and energy-intensive process known as mining, which makes use of electricity partially provided by fossil fuel-fired power plants that release greenhouse gasses while burning coal and gas.

What Is the Future of Bitcoin?

Bitcoin’s future price and role in the global economy remain uncertain. The best-case analysis points to skyrocketing Bitcoin prices for many years while some bears expect the digital currency to lose all its value over time.

How Secure Is the Bitcoin Network?

Quite secure. It’s protected by the 256-bit SHA hash functions, the same level of security that banks, the military, and virtual private networks (VPNs) use to encrypt their systems. The security of the Bitcoin network is multi-layered. Bitcoin’s blockchain is unbreakable because of a combination of game theory, block confirmations, mining, and transaction hashing. 

What Are the Risks Associated with Investing in Bitcoin?

There are quite a few. The price of Bitcoin is constantly changing. Cryptocurrency is technology-based, which leaves this investment open to cyberattacks, and fraud is very common. In addition, Bitcoin is an online exchange that is reliant on technology, and without that technology, cryptocurrency is worth nothing.

Bottom Line

The forecast for the Bitcoin network acknowledges the speculative nature of earlier too optimistic and exceptionally negative reviews and adopts a more pragmatic and realistic perspective. It is clear that Bitcoin and other cryptocurrencies will face both positive and negative changes in the years to come. Even if it is clear that the world’s financial markets have the potential to change, the future’s course for the world’s first cryptocurrency is likely to be difficult and unexpected, with a lot of twists and turns along the way.

Make sure to follow us on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.

This article does not constitute investment advice, nor are any assets mentioned recommended investments. It is important to be aware of the risks associated with crypto assets. Don’t forget to do your own research before buying any crypto. 

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