Bernstein has doubled down on its optimistic Bitcoin price projections, raising its long-term forecast to $1 million by 2033, driven by unprecedented demand and constrained supply. Bernstein analysts also revised their predictions for the current cycle and now project the flagship crypto to hit $200,000 by the end of 2025, up from its earlier estimate The post Bernstein raises long-term Bitcoin price projection to $1 million by 2033, initiates MicroStrategy coverage appeared first on CryptoSlate.

Bernstein has doubled down on its optimistic Bitcoin price projections, raising its long-term forecast to $1 million by 2033, driven by unprecedented demand and constrained supply.. Bernstein analysts also revised their predictions for the current cycle and now project the flagship crypto to hit $200,000 by the end of 2025, up from its earlier estimate of $150,000. The firm also predicted Bitcoin will climb to $500,000 by 2029.. Bernstein attributed the growth expectations to the increasing demand for Bitcoin via multiple avenues, particularly the newly launched ETFs and the trend of corporations adding Bitcoin to their treasuries. The firm said the rising demand combined with the shrinking supply points to remarkable potential for growth.. Despite Bitcoin’s recent struggle to maintain its position above $67,000, with prices slipping to around $66,850, Bernstein’s optimistic forecast highlights the long-term potential of the crypto market.. The analysts believe that the broader economic environment, including easing US inflation and shifting political attitudes towards cryptocurrencies, supports a positive outlook for Bitcoin and MicroStrategy alike.. MicroStrategy coverage. As part of its bullish outlook, Bernstein initiated coverage of MicroStrategy, assigning it an outperform rating with a price target of $2,890. The Virginia-based company, known for its significant Bitcoin holdings, closed at approximately $1,484 on June 14.. MicroStrategy, which holds about 214,400 bitcoins worth approximately $14.5 billion, has transformed from a small software firm into a major player in the crypto market over the past four years. The company adopted Bitcoin as a reserve asset in 2020, and its founder and chairman, Michael Saylor, has been a prominent advocate for the digital currency.. Bernstein analysts Gautam Chhugani and Mahika Sapra highlighted Saylor’s strategic approach in positioning MicroStrategy as a leading Bitcoin enterprise, writing:. “Michael Saylor has become synonymous with brand Bitcoin, and MicroStrategy has positioned itself as an active leveraged Bitcoin strategy versus passive spot ETFs.”. According to the firm, this active strategy has resulted in a higher Bitcoin per equity share compared to passive approaches.. MicroStrategy stacking Bitcoin. MicroStrategy’s long-term financial strategy includes convertible debt, which allows the company to capitalize on Bitcoin’s potential upside while minimizing liquidation risks.. The company has raised billions of dollars via multiple debt offerings to increase its BTC holdings in recent months.. The firm most recently proposed a $500 million debt sale of convertible notes on June 13 to further boost its Bitcoin reserves. It later raised the amount to $700 million on June 14.. Bernstein believes that MicroStrategy’s proactive stance and substantial Bitcoin holdings position it to benefit significantly from the projected growth in crypto value over the coming decade.. Mentioned in this article. Posted In: Bitcoin, Crypto. Latest Bitcoin Stories

The New York Attorney General’s (NYAG) office announced the completion of its settlement with Gemini and the recovery of $50 million for users of the defunct Gemini Earn program on June 14. Users will receive the crypto in their accounts without having to take any further action. The settlement resolves the legal charges filed by The post NYAG completes settlement with Gemini over Earn program, recovers remaining $50 million for impacted users appeared first on CryptoSlate.

The New York Attorney General’s (NYAG) office announced the completion of its settlement with Gemini and the recovery of $50 million for users of the defunct Gemini Earn program on June 14.. Users will receive the crypto in their accounts without having to take any further action.. The settlement resolves the legal charges filed by the NYAG against Gemini and bars the exchange from operating crypto lending programs in New York.. It also requires Gemini to cooperate in the NYAG’s investigations of Genesis parent Digital Currency Group (DCG), DCG CEO Barry Silbert, and former Genesis CEO Soichiro Moro.. The NYAG said Gemini “allegedly misled thousands of investors on the risks” by offering the Gemini Earn program with Genesis Global Capital. Gemini Earn’s failure reportedly impacted over 230,000 users, including at least 29,000 residents of New York.. New York Attorney General Letitia James said:. “Gemini marketed its Earn program as a way for investors to grow their money, but actually lied and locked investors out of their accounts.”. Gemini confirmed the settlement the same day and said it would make the final distribution of funds available to users within seven days. The action will return the final 3% of crypto the exchange owed users when the Earn program was suspended.. The company confirmed the conclusion of the NYAG’s lawsuit, stating:. “We are also pleased to announce that … Gemini has entered into an agreement with the New York Attorney General (NYAG) to settle the lawsuit the NYAG brought against Gemini on October 19, 2023.”. Gemini returned more than $2 billion in crypto to customer accounts on May 29, completing the return of 97% of the funds it owed to customers. It made the distributions in-kind, meaning that users who lent one Bitcoin to the program received one Bitcoin back.. Mentioned in this article. Posted In: Gemini, US, Exchanges, Featured, Legal, Lending. Latest US Stories

Trezor has launched the Trezor Safe 5, a new flagship device with upgraded security features and a haptic color touchscreen, and the Trezor Expert, a personalized onboarding service for new users. CryptoSlate was able to get hands-on with the new touchscreen device ahead of its launch at BTC Prague. The Trezor Safe 5 introduces enhanced The post Trezor launches new touchscreen hardware wallet with custom expert setup appeared first on CryptoSlate.

Trezor has launched the Trezor Safe 5, a new flagship device with upgraded security features and a haptic color touchscreen, and the Trezor Expert, a personalized onboarding service for new users.. CryptoSlate was able to get hands-on with the new touchscreen device ahead of its launch at BTC Prague. The Trezor Safe 5 introduces enhanced security and usability for managing digital assets. This new device features a color touchscreen with the Trezor Touch haptic engine, providing a visually engaging interface. The device’s Secure Element is NDA-free and EAL 6+ certified, offering robust protection for sensitive information and cryptographic operations.. The Trezor Safe 5 includes an upgraded 20-word backup process that allows users to transition from a standard Single-share Backup to an Advanced Multi-share Backup. This enhanced backup method uses Shamir’s secret sharing to split the master secret key into multiple unique shares, improving security by eliminating a single point of failure. Even if some shares are lost, users can still access their crypto. To protect these backup phrases from fire, water, and physical damage, Trezor offers a 20-word version of its Trezor Keep Metal solution for $99.. The Trezor Safe 5 is encased in damage-proof Gorilla Glass and is available in finishes like Black Graphite, Violet Ore, and Green Beryl. It supports many cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and thousands more, ensuring extensive compatibility for users to securely store, manage, stake, and use their crypto. The Trezor Suite desktop application and mobile app allow users to monitor their assets on the go and leverage Trezor’s network of third-party services for a customized crypto experience.. For Bitcoin enthusiasts, Trezor offers a Bitcoin-only version of the Safe 5, which removes non-Bitcoin-related features and code to provide a streamlined Bitcoin experience. Following the successful limited edition run of the Bitcoin-only Trezor Safe 3, Trezor now offers an unlimited edition of both the Bitcoin-only Trezor Safe 3 and Trezor Safe 5 in a distinct fiery orange shade.. Matěj Žák, Trezor’s Chief Executive Officer, emphasized the significance of the Trezor Safe 5, stating,. “Understandably, many crypto enthusiasts lack trust in exchanges and are looking for an easy and secure way to interact with their digital assets. We saw that there was an opportunity to bring something new to the sector – enter the Trezor Safe 5.”. Žák launched the Trezor Safe 5 on stage at BTC Prague 2024, where he also introduced Trezor Expert. This new service provides personalized, one-on-one online onboarding sessions for Trezor customers, helping them set up their hardware wallets. Trezor Expert aims to build user confidence in self-custody by easing customer concerns about making errors and providing knowledge on protecting digital assets.. The service offers step-by-step guidance on best practices and ensures users understand basic security concepts. Available seven days a week, Trezor Expert allows users to book sessions at their convenience, regardless of their location. The interactive learning experience encourages participants to engage with specialists, ask questions, and seek clarification to benefit from the session entirely. Trezor Expert ensures that only the customer knows the wallet backup and other sensitive information.. Matěj Žák highlighted the importance of Trezor Expert, stating,. “Newcomers to hardware wallets sometimes lack experience, knowledge, and confidence in setting up hardware wallets – turning to social media and internet research to help them through the process. We wanted to give customers access to personalized guidance from a trusted, reputable brand recognized for its commitment to security.”. Trezor Expert assists customers in correctly setting up their hardware wallets and also provides an opportunity to explore the security considerations of self-custody in more detail, covering topics such as private key management and safe online practices.. The Trezor Safe 5 is available for preorder at a retail price of $169. The Bitcoin-only and Black Graphite versions will ship at the beginning of July, while the Green Beryl and Violet Ore versions will be available by mid-August. Trezor Expert is available for purchase on the Trezor e-shop for $99.. Trezor Safe 5 hardware wallet. The Trezor Safe 5 features include:. Color touchscreen and Trezor Touch haptic engine for a richer interactive experience.. NDA-Free, EAL 6+ certified, Secure Element designed to protect sensitive information and perform cryptographic operations.. An enhanced, more robust, 20-word backup process offers a seamless upgrade from a standard Single-share Backup to an Advanced Multi-share Backup.. All Gorilla-Glass surfaces protect the device from scratches and damage.. CryptoSlate received a Safe 5, and Trezor Keep for review purposes, which will be released after testing in the coming weeks.. Mentioned in this article. Posted In: Bitcoin, Crypto, Featured, Wallets. Latest Bitcoin Stories

The following is a guest post by Phillip Alexeev, Chief Growth Officer at CrossFi. Over the centuries, the evolution of currency has defined the human experience. From primitive bartering systems to establishing standardized coins and paper money, currencies have been critical in organizing and advancing societies. However, recent decades have seen many areas of the The post How did we lose control of our currencies? appeared first on CryptoSlate.

The following is a guest post by Phillip Alexeev, Chief Growth Officer at CrossFi.. Over the centuries, the evolution of currency has defined the human experience. From primitive bartering systems to establishing standardized coins and paper money, currencies have been critical in organizing and advancing societies. However, recent decades have seen many areas of the world spiral into financial chaos, leading many to wonder: how did we lose control of our currencies?. The post-World War II transition to fiat—money that has value because a government maintains it, rather than being backed by physical commodities like gold—fundamentally altered the financial landscape.. Fiat currency, while providing flexibility, has also led to governments printing money at will, resulting in inflation, economic instability, and the erosion of public trust in financial systems. But there is hope on the horizon: digital assets (i.e., crypto), offer a promising solution to regain control and restore integrity to our monetary systems.. A New Hope. Satoshi Nakamoto introduced Bitcoin to the world largely due to the financial crisis of 2008, which highlighted the vulnerabilities and systemic risks of the traditional banking system.. Frustration with centralized financial institutions, their role in economic instability, and a desire for a transparent, secure, and trustless financial system motivated Nakamoto to develop a decentralized digital currency secured cryptographically. Amidst this backdrop, the rise of Bitcoin (and eventually other cryptocurrencies inspired by Bitcoin) presented a revolutionary alternative.. However, since their inception, Bitcoin and other cryptocurrencies have faced considerable resistance from governments and financial institutions. Skepticism and fear of the unknown initially drove much of this resistance, alongside concerns about security, regulatory compliance, and the potential for misuse. Despite these challenges, crypto has demonstrated its resilience and utility, forcing many governments to now, finally, acknowledge that they are not merely a fad.. Navigating Risks and Accepting Regulation. The core of crypto’s appeal lies in its promise of incorruptible security and transparency. Unlike fiat currencies, which can be manipulated by governments and central banks, the best cryptocurrencies operate on a decentralized network of computers, making it nearly impossible to alter the ledger fraudulently. This decentralization also means that no single entity controls the assets, reducing the risk of systemic failures in centralized banking systems.. However, the journey towards widespread acceptance of cryptocurrencies has not been without its hurdles. Exchange failures and regulatory uncertainties pose significant risks to investors. High-profile exchange collapses have resulted in substantial financial losses, undermining confidence in the ecosystem. Likewise, the regulatory landscape remains fragmented and often hostile, creating an environment of uncertainty that can stifle innovation.. To mitigate these risks, it is essential for regulators to establish clear, consistent regulations and for investors, users, and networks to prioritize robust security measures. Enhanced security protocols, such as multi-sig wallets, two-factor authentication and decentralized storage solutions, can help protect assets. At the same time, well-defined regulatory frameworks can provide the stability needed for cryptocurrencies to flourish in a more traditional financial sense.. Balancing Pragmatism and Innovation. Governments now find themselves at a critical juncture. They can no longer afford to ignore the growing influence of cryptocurrencies. Instead, they must balance embracing this innovation and implementing safeguards to protect consumers and the financial system.. One potential pathway for governments is the development of Central Bank Digital Currencies (CBDCs). These digital currencies, issued and regulated by central banks, aim to combine the benefits of traditional fiat currencies with the technological advancements of cryptocurrencies. CBDCs can offer a government-backed digital alternative that ensures stability and trust while leveraging the efficiency and transparency of blockchain technology.. However, the introduction of CBDCs must be handled with care. Overly stringent regulations could stifle innovation and drive crypto activity into unregulated and potentially more dangerous areas of the economy. To avoid this, governments must foster a regulatory environment encouraging innovation and competition while ensuring robust consumer protections.. A balanced approach to regulation can create a thriving financial ecosystem where both traditional and digital currencies coexist. By setting clear, fair rules, governments can provide the certainty needed for businesses and investors to operate confidently. Additionally, such an environment can spur further innovation in financial technology, driving economic growth and enhancing financial inclusion.. It’s essential to recognize that the rise of cryptocurrencies is not merely a technological phenomenon but a social and economic one. People are drawn to crypto not only for potential returns on investment but also for the ideals it represents: decentralization, transparency, and freedom from traditional financial intermediaries.. Reclaiming Control. The control we once had over our currencies has indeed slipped away, but it is not lost forever. The advent of cryptocurrencies offers a unique opportunity to rethink and reshape our financial systems. The way forward requires a collaborative effort. Governments, financial institutions, and the crypto community must work together to build a financial system that leverages the strengths of both traditional and digital currencies.. By embracing innovation and maintaining a commitment to consumer protection, we can regain control of our currencies and create a more stable, transparent, and inclusive financial future that serves the needs of all citizens in our brave new digital age.. Posted In: Banking, CBDCs, Crypto, Guest Post, Op-Ed, Regulation

The following is a guest post by Nischal Shetty, co-founder and President at Shardeum. Mt. Gox’s dormancy might not be over, but a series of tokens moving out from its wallets has caught the attention of the market. A total of 137,890 BTC valued at $9.4 billion is presumed to be headed to creditors’ wallets, The post Will Bitcoin’s price bear the brunt of Mt. Gox’s repayment plan? appeared first on CryptoSlate.

The following is a guest post by Nischal Shetty, co-founder and President at Shardeum.. Mt. Gox’s dormancy might not be over, but a series of tokens moving out from its wallets has caught the attention of the market. A total of 137,890 BTC valued at $9.4 billion is presumed to be headed to creditors’ wallets, and this has warranted a mixed set of responses from experts, most of whom are concerned about a potential increase in selling pressure and a subsequent drop in Bitcoin’s price.. Mt. Gox was once the world’s leading Bitcoin exchange before it was hacked in 2014, leading to the loss of over 850,000 BTC. After years of legal battles, Japanese authorities finally approved a rehabilitation plan in 2021, launching a legal procedure known as “civil rehabilitation,” allowing creditors to recover some portion of their lost funds.. The plan has become effective as creditors who lost their funds are now allocated a part of the remaining ones. Mt. Gox’s planned repayments to creditors might have played some role in a 4% decline in Bitcoin’s price over the past 24 hours, which the market was able to shake off with an eventual rebound. However, there is a concern that these newly freed coins will flood the market, leading to a selloff and driving the price down further.. In an official statement, Mark Karpeles, former CEO of Mt. Gox, confirmed that while Bitcoin sell-offs aren’t happening now, tokens being moved from Mt.Gox to a new wallet is part of the larger plan to distribute to creditors.. Understanding Long-Term Holders (LTHs) and Short-Term Holders (STHs). The Bitcoin market can be broadly divided into two categories based on investor holding times: Long-Term Holders (LTHs) and Short-Term Holders (STHs).. LTHs: These investors have held onto their Bitcoin for over 155 days. They are generally considered more resolute and less likely to panic sell during market downturns.. STHs: These investors have bought Bitcoin within the past 155 days. They are typically more reactive to market news and events and might be quicker to sell in response to negative sentiment.. Historical LTH Selloff vs. Mt. Gox Repayments. CryptoSlate Senior Analyst James Van Straten shares a perspective that sheds light on the potential of the Mt. Gox repayment event on the market. He shared on his X account how Grayscale Bitcoin Trust and Long Term Holders sold around 1M BTC in the last five months.. The market has been able to showcase impeccable resilience in absorbing these sell-offs. In comparison, Mt. Gox’s repayments to its creditors would be 1/10th of the 1M BTC sold.. The recent Bitcoin rally, which reached an all-time high this year before the halving, was strong enough to incentivize some Long-Time Holders to sell, as indicated by a decrease in their total supply. Van Straten argues that this recent LTH selloff would dwarf the amount of Bitcoin released through Mt. Gox repayments.. Data and Market Analysis. According to on-chain data, research firm Glassnode released earlier this year that the number of Bitcoin addresses holding onto coins for more than 5 years reached a new low, suggesting some long-term investors were taking profits. The massive BTC movement has raised concerns that Mt. Gox creditors might decide to sell their recovered coins on exchanges, flooding the market and driving down prices.. This fear is amplified by the fact that the average daily inflow of Bitcoin to exchanges has been hovering around 2016 levels, suggesting potentially lower liquidity to absorb a large sell-off.. But compared to this larger LTH selloff, the impact of Mt. Gox repayments might be less impactful for the market. It’s important to remember that not all creditors who receive their BTCs will immediately sell their recovered Bitcoin. And the distribution hasn’t come into effect formally as yet.. Among the creditors, some might choose to hold, or buy more, based on their individual investment strategies. While the immediate market reaction might be negative due to short-term investor jitters, the long-term impact of Mt. Gox repayments could be positive. Increased institutional adoption often follows periods of market consolidation, and resolving the Mt. Gox saga could improve investor confidence in the overall health of the Bitcoin ecosystem.. Conclusion. The Mt.Gox saga and its potential impact on Bitcoin price highlight some loopholes better addressed at this crucial point of market maturity.. While short-term volatility is to be expected, especially when large amounts of coins are moved, market stability and an increase in liquidity could boost investor confidence and set a secure tone for the long-term implications of Bitcoin’s performance.. Mentioned in this article. Posted In: Bitcoin, Analysis, Featured, Guest Post, Market, Op-Ed. Latest Bitcoin Stories

Two prominent crypto market experts have shed light on the future of meme coins in this market cycle, predicting the potential launch of a Dogecoin Exchange-Traded Fund (ETF) soon. Crypto Heavyweights Affirm Dogecoin ETF Is Coming Co-founder of BitMEX, Arthur Hayes and Chief Executive Officer (CEO) and co-founder of Real Vision, Raoul Pal have appeared

Two prominent crypto market experts have shed light on the future of meme coins in this market cycle, predicting the potential launch of a Dogecoin Exchange-Traded Fund (ETF) soon.. Crypto Heavyweights Affirm Dogecoin ETF Is Coming. Co-founder of BitMEX, Arthur Hayes and Chief Executive Officer (CEO) and co-founder of Real Vision, Raoul Pal have appeared in a recent YouTube podcast on Coin Bureau, sharing insights on the potential for a Dogecoin ETF as meme coins continue to gain traction in the market.. Related Reading: Memecoins Are ‘One Of The Most Powerful Narratives’ In The Crypto Market – CEO. When questioned about what meme coins he was keeping an eye on in his portfolio, Hayes asserted that Dogecoin could potentially get an ETF by the end of the cycle. He based his predictions on the substantial growth rate of the doggy-themed meme coin over the years, highlighting Dogecoin’s status as the oldest meme coin in the crypto space, giving it an edge over other meme based cryptocurrencies.. Moreover, Hayes also noted Dogecoin’s substantial market capitalization which has risen to a staggering $19.7 billion. The meme coin currently holds the top position as the world’s largest meme-based cryptocurrency by market capitalization, according to CoinMarketCap.. Additionally, Dogecoin’s cultural impact on the crypto space and the investment sector in general has been profound. The popular meme coin has also steadily cultivated its robust community to hold millions of supporters and investors.. Echoing Hayes’ sentiments, Pal agreed with the BitMEX co-founder in his prediction of a Dogecoin ETF by the end of the market cycle. He indicated his strong advocacy for a Dogecoin ETF, having discussed the possibilities with Jan van Eck, the CEO of VanEck, an investment management firm and Spot Bitcoin ETFs provider.. When asked if a potential Dogecoin ETF could flip the demand for Spot Ethereum ETFs, the Real Vision CEO lauded Dogecoin’s consistent outperformance of Bitcoin in every bull cycle, cementing its status as a major player in the crypto space. He also disclosed that he has attempted to urge VanEck’s CEO to file a Dogecoin ETF, emphasizing his active efforts behind the scenes to make this happen.. DOGE is currently trading at $0.13. Chart: TradingView. Meme Coins With The Strongest Narratives In This Cycle. As meme coins continue to gain ground in the crypto space, it’s no surprise that many are speculating about which coin will be the next big hit. In the interview, Hayes and Pal shared insights on which meme coins they believe will have the strongest narratives in the crypto market.. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst. Pal revealed that he has made investments in popular cryptocurrencies like Dogecoin, however, he was 90% long on Solana (SOL). On the other hand, Hayes disclosed a more diversified meme coin portfolio, highlighting investments in prominent meme coins like Bonk (BONK), Dogwifhat (WIF), and Dogecoin. He revealed his investment strategy for 2024, advising: “Be long, don’t sell, don’t get shook, and don’t use too much leverage.”. Featured image from Getty Images, chart from TradingView

The world of memecoins has entered a bizarre new chapter, fueled by the outlandish antics of celebrities and questionable financial ventures. The latest episode features rapper Lil Pump, whose recent social media activity has left the crypto community scratching their heads and wondering – is this a stroke of marketing genius or a recipe for

The world of memecoins has entered a bizarre new chapter, fueled by the outlandish antics of celebrities and questionable financial ventures. The latest episode features rapper Lil Pump, whose recent social media activity has left the crypto community scratching their heads and wondering – is this a stroke of marketing genius or a recipe for financial disaster?. Related Reading: Memecoins Are ‘One Of The Most Powerful Narratives’ In The Crypto Market – CEO. Memecoins: Pumping Up The Hype. Lil Pump, known for his platinum-selling hit “Gucci Gang,” unveiled a new forehead tattoo proudly displaying the word “Solana” alongside the blockchain platform’s logo. This wasn’t just a random artistic choice. It coincided with a flurry of promotional posts for his very own Solana-based memecoin, creatively named “lil pump.”. Taking things a step further, Pump declared himself the “step child” in a self-proclaimed “memecoin family,” name-dropping fellow celebrities Iggy Azalea (“$MOTHER”) and Andrew Tate (“$DADDY”) who have also launched their own Solana tokens. The rapper’s social media blitz included repeated inquiries to major exchanges like Coinbase and Binance, asking “wen” – crypto slang for “when” – will his token be listed.. Pump And Dump Fears Cloud The Hype Machine. While some fans cheered Pump’s foray into crypto, seasoned investors were wary. The history of celebrity-backed memecoins is littered with failures. Projects promoted by figures like Kim Kardashian, Floyd Mayweather, and even Snoop Dogg have left a trail of disappointed investors and empty pockets.. BTC is now trading at $66,277. Chart: TradingView. These ventures often follow a familiar pattern: celebrities leverage their massive followings to pump up a new token, causing its price to skyrocket. Then, just as quickly, they cash out, leaving investors holding the bag as the price plummets.. Recent events only fueled these concerns. Caitlyn Jenner’s Solana-based “JENNER” token took a nosedive after its creator dumped the project’s liquidity, essentially stealing from investors. This episode serves as a stark reminder of the inherent risks associated with memecoins, particularly those fueled by celebrity hype.. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst. Is Lil Pump Different?. Lil Pump seems determined to prove his project has staying power. Unlike some of his celebrity counterparts, he’s actively trying to build a community around “lil pump.” However, the tactics raise questions.. The authenticity of his “Solana” tattoo is debated, with some speculating it’s easily removed. Additionally, Ethereum co-founder Vitalik Buterin publicly voiced his disapproval of the celebrity memecoin trend, calling into question its long-term viability.. Featured image from Youtube/Lil Pump, chart from TradingView

On-chain data shows that the Bitcoin taker buy/sell ratio has experienced a significant surge on a particular crypto exchange. Here’s how it could impact the price of the premier cryptocurrency. Bitcoin Investors Buying The Dip On This Exchange Prominent crypto pundit Ali Martinez took to the X platform to reveal that investors on a particular

On-chain data shows that the Bitcoin taker buy/sell ratio has experienced a significant surge on a particular crypto exchange. Here’s how it could impact the price of the premier cryptocurrency.. Bitcoin Investors Buying The Dip On This Exchange. Prominent crypto pundit Ali Martinez took to the X platform to reveal that investors on a particular exchange have been taking advantage of the recent fall in Bitcoin price. The relevant indicator here is the taker buy/sell ratio, which measures the ratio between the taker buy volumes and the taker sell volumes.. Typically, when the value of this metric is greater than 1, it implies that the taker buy volume is higher than the taker sell volume on the exchange in question. In this case, more traders are willing to buy coins at a higher price on the trading platform.. Related Reading: Bitcoin Surge Incoming? MicroStrategy Prepares To Buy $700 Million Worth Of BTC. Conversely, when the taker buy/sell ratio is below 1, it means that more sellers are willing to sell coins at a lower price, indicating that the sell volume is greater than the buy volume.. Bitcoin taker buy/sell ratio | Source: Ali_charts/X. According to data from CryptoQuant, the Bitcoin taker buy/sell ratio on the HTX Exchange (formerly known as Huobi) recently skyrocketed to above 545 on Saturday. This suggests a significant increase in buying pressure and a shift in investor sentiment.. Martinez noted in his post on X that this spike in bullish pressure could be a signal of impending upward price movement for Bitcoin. These high buy volumes on the HTX exchange come on the back of BTC’s recent fall to $65,000.. However, it is worth noting that the average Bitcoin taker buy/sell ratio across all exchanges is still below 1. At the time of writing, the value of this metric stands around 0.8.. BTC’s Average Mining Cost Surges Above $86,500. The latest data shows Bitcoin’s average mining cost has soared to $86,668. This figure reflects the cumulative expenses associated with producing one BTC, including electricity, hardware, and operational costs.. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst. As highlighted by Ali Martinez in a post on X, every significant increase in BTC’s average mining cost is usually followed by a corresponding increase in the coin’s market value. With this historical context, the latest increase in the average mining cost suggests that a price increase could be on the horizon for Bitcoin.. As of this writing, the price of Bitcoin continues to hover around the $66,000 mark, with no significant change in the past day. According to CoinGecko data, the premier cryptocurrency is down by nearly 5% in the past week.. The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView. Featured image from Barron’s, chart from TradingView

Solana’s price action has been declining in the past 30 days, and the crypto recently retreated to $141.3, its lowest price in the timeframe. Interestingly, this decline has seen Solana hit a major support level, which could turn the tide in its price action for the next 30 days. According to a social media post

Solana’s price action has been declining in the past 30 days, and the crypto recently retreated to $141.3, its lowest price in the timeframe. Interestingly, this decline has seen Solana hit a major support level, which could turn the tide in its price action for the next 30 days. According to a social media post by crypto analyst Ali Martinez, Solana could turn bullish for the next few days if this support holds.. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst. Solana Hits Major Support. Solana has struggled with attention from traders alongside other altcoins, with a majority of the activity going to Ethereum after the SEC’s approval of Spot Ethereum ETFs. As a result, SOL has drastically declined from $187 in the past three weeks, losing about 24% of its value.. This fall has been further aggravated due to Bitcoin’s corresponding drop in the past few days. As Bitcoin dropped below $65,000, Solana slid to $141, testing support at its 200-day moving average.. As Martinez noted, the journey to the $141 support level seems to have signaled a reversal, at least in the short term. Notably, the TD Sequential indicator has flashed a buy signal for Solana’s SOL on the daily timeframe, suggesting now could be an opportune time to pick up the altcoin as it starts to rebound.. TD Sequential counts the number of candles in a trend, with a 9 indicating 9 periods of lower lows or lower highs. After 9 periods, the odds increase that the trend may reverse.. After two consecutive red candles, SOL now appears to be on the verge of forming a green candle, according to the daily timeframe chart shared by the analyst.. “If this support holds, #SOL could rebound for one to four daily candlesticks,” Martinez noted.. SOL is currently trading at $145. Chart: TradingView. SOL Price Prediction. At the time of writing, Solana is trading at $145.10 and it looks like it is already on a rebound path. Pulling back to look at a wider timeframe shows that the last time Solana stalled at $141, the crypto would go ahead on a 32% surge to $186. Repeating this price action would see Solana surge back to $186 during the new week. If Bitcoin can also hold key support levels at $66,300, it may help SOL and other altcoins see decent bounces from here.. Related Reading: A Pump And Dump? Celebrity Memecoins Get A Boost From Lil Pump’s Solana Stunt. However, not all TD indicator signals result in sustained uptrends. If Solana fails to hold above $140, this could cascade into a further price decline to another support at $130. According to Coinglass Longs vs. Shorts data, traders are still indecisive on Solana’s direction. Specifically, 49.05% of Solana futures positions opened in the past 24 hours were long, compared to 50.95% short positions.. Featured image from Getty Images, chart from TradingView

Fervent Bitcoin proponent Michael Saylor has made another very bullish prediction for Bitcoin’s price tag. His comments, which were made at a recent Prague event, have captured the attention of the crypto community, particularly due to the hefty price tag. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst

Fervent Bitcoin proponent Michael Saylor has made another very bullish prediction for Bitcoin’s price tag. His comments, which were made at a recent Prague event, have captured the attention of the crypto community, particularly due to the hefty price tag.. Related Reading: ETF Boom! Market Set To Explode To $35 Trillion By 2035 – Analyst. While speaking at the event, Saylor predicted Bitcoin could reach up to $8 million per coin, and many investors would miss out on the price surge. Notably, these comments come amidst MicroStrategy’s recent disclosure that it wants to increase its Bitcoin holdings.. Saylor’s Bold Prediction At Prague Event. While speaking at the Prague event for Bitcoin, Saylor recounted his journey with Bitcoin in its early days. Interestingly, Saylor noted he was also indecisive when considering investing in Bitcoin for the first time. Back in 2013, Saylor looked at Bitcoin and dismissed it, thinking it would only find its way into online gambling.. As a result, he lost the opportunity to buy when Bitcoin traded at $892, only finally deciding to purchase when Bitcoin reached $9,500. “I got the price I deserved,” Saylor noted. However, Saylor has been a fervent supporter of Bitcoin ever since he finally bought in, even calling it the digital gold. He has also argued in the past that Bitcoin is the only asset investors can truly own as it is free from any governing authority.. As Saylor explains, despite Bitcoin’s growth in the past few years, there are still a lot of investors who are skeptical about buying in. Saylor noted that even if Bitcoin reaches $950,000, some might still call it overbought and expect a drop to $700,000, only to potentially miss out when the price finally surges to $8,000,000.. “Everyone gets Bitcoin at the price they deserve,” Saylor noted.. BTC is now trading at $66,596. Chart: TradingView. Is Bitcoin To $8 Million Really Feasible?. While $8 million per Bitcoin may seem far-fetched, Saylor and other analysts believe in the power of exponential growth. With Bitcoin now trading at $66,000, an $8 million price tag would mean a 12,000% price increase from the current price level. For Bitcoin to reach that level, its market cap would have to increase over 150 times from today’s value to around $168 trillion.. For this to happen, Bitcoin would need to gain mainstream adoption and interest in institutional investors, which is starting to increase because of Spot Bitcoin ETFs. If adoption truly goes mainstream, $8 million per Bitcoin may not be outside the realm of possibility in the coming decades.. MicroStrategy, Saylor’s intelligence company, is one of the few companies leading the charge in mainstream Bitcoin adoption. At the time of writing, MicroStrategy owns about 1% of Bitcoin’s circulating supply, and its investment has paid off thus far.. Related Reading: A Pump And Dump? Celebrity Memecoins Get A Boost From Lil Pump’s Solana Stunt. According to a recent disclosure, MicroStrategy is now looking to sell $700 million worth of its convertible notes. Net proceeds from the sale of the notes will then be used to acquire additional Bitcoin.. Featured image from Shutterstock, chart from TradingView