New Post

DAILY MARKET OVERVIEW
Why Some Experts See $100K BTC on the Horizon

Hey Crypto Enthusiasts! Buckle up, because we’ve got some exciting news that might make you want to HODL even tighter.

Despite the recent market dip that had us all biting our nails, some big players in the crypto world are predicting sunshine after the storm.

The $100K Bitcoin Dream

Matt Hougan, a big shot at Bitwise (they manage tons of crypto), thinks Bitcoin could hit a whopping $100,000 by the end of the year.
Sounds crazy? Maybe not! Here’s why:

• ETF Frenzy: Those new Bitcoin ETFs? They’re bringing in billions, and we’re just getting started.

• The Halving Effect: Remember the Bitcoin halving? It’s making Bitcoin more scarce, which could drive up the price.

• Fed to the Rescue: The US might start lowering interest rates, which usually gives Bitcoin a boost.

• Ethereum’s Turn: ETH spot ETFs could become the next big hype, bringing even more attention to crypto.

Inflation Cooldown

We’ve already heard the great news! US inflation actually went DOWN in June. This is huge because it might convince the government to cut interest rates, which could make Bitcoin even more attractive.

Short-Term Pain, Long-Term Gain

Sure, we’ve had some bumps lately. Mt. Gox payouts and Germany selling some Bitcoin had us worried. But here’s the thing – experts think this short-term drama won’t matter much compared to the big picture.

ETFs: The Sleeping Giant

Those Bitcoin ETFs that launched in January? They’ve already brought in $15 billion. And guess what? Big banks like Morgan Stanley haven’t even joined the party yet. When they do, we could see billions more pouring in.

The Bottom Line

While the crypto market might feel like a wild ride right now, some smart folks think we’re just revving up for something big. Remember, crypto can be super unpredictable, so always do your research and invest wisely. But if these predictions pan out, we might be in for an exciting end to 2024!

SPONSORED
Claim Your Reward!

TWITTER SENTIMENT
Current Market Analysis by Max

We’ve been looking at some recent thoughts on Bitcoin from Max at BecauseBitcoin. He thinks Bitcoin is in its first big correction of this bull market cycle, similar to what happened in January 2021.

Here’s what happened back then:

• In January 2021, Bitcoin’s price dropped a lot, with no support for another 10-15%. Despite this, the overall trend stayed strong, and the expected support level wasn’t hit. There was a lot of fear, and many investors stayed out of the market.

• At the same time, altcoins were stabilizing and forming a higher low. This signaled to experienced investors that altcoins had bottomed out, even as Bitcoin was still correcting.

Based on Max’s analysis, we might see something similar now. Bitcoin could be going through a big correction, but the overall trend might remain strong. Altcoins might also be finding their bottom, signaling potential opportunities.

Coinbase Continues to Develop

Coinbase has been striving to make on-chain onboarding as smooth as possible for new investors.

Recently, they introduced the Coinbase Wallet web app, enabling traders and investors to connect their MetaMask or other crypto wallets directly to the new platform.

This platform offers easy access to a variety of on-chain applications, organized into categories for convenient navigation by new traders.

We view this as highly bullish for the crypto industry, as Coinbase, the largest player in the field, is making substantial efforts to bring more people into the crypto world!

NEWS OVERVIEW
The Latest Crypto Headlines

Cooling Inflation Could Push Bitcoin to $100K
Analysts see several factors, including declining US inflation, that could drive Bitcoin to $100,000 this year.

Germany Sells Off Nearly All Its Bitcoin Holdings
The German government has sold off over 43,000 BTC, leaving it with less than 6,400 BTC remaining.

Partior Blockchain Network Raises $60M in Series B
JPMorgan and Standard Chartered-backed blockchain payment network Partior secures $60 million in funding.

Spot Bitcoin ETFs See $79M in Net Inflows
Spot Bitcoin ETFs record positive flows for the fifth consecutive day, attracting $79 million in net inflows.

YOUTUBE INFLUENCER SUMMARY

Lark Davis – Crypto Holders The Numbers Are In! (12.07.2024 Summary)

Lark, discussed recent developments in the crypto market in his latest video. He started by highlighting positive inflation data, with June’s US CPI annual inflation rising 3%, below the expected 3.1%. This news boosted the likelihood of interest rate cuts in September, which Lark sees as bullish for the markets.

• Lark then moved on to discuss Bitcoin, noting that German authorities are almost done selling their seized Bitcoin, with only less than 7,000 coins left. Despite this selling pressure, the market has absorbed it well, with Bitcoin’s price remaining relatively stable.

Regarding Bitcoin ETFs, Lark pointed out their success since launching six months ago. These ETFs have become the fastest-growing ETP category of all time, purchasing twice as much Bitcoin as miners produced in new supply.

• Lark also touched on Ethereum, mentioning that he’s bought more spot Ethereum in anticipation of a post-ETF approval rally. He has sell orders set at $4,800, targeting previous highs.

In terms of altcoins and meme coins, Lark cautioned against holding onto these through market cycles. He emphasized the importance of taking profits, stating that many altcoins won’t survive into the next cycle or reach their previous highs.

Finally, Lark shared his personal strategy for the end of this market cycle. He plans to sell most of his altcoins, keep Bitcoin, and invest profits into stable, dividend-paying stocks and some gold. He stressed the importance of having an exit strategy and not getting too attached to any particular coin or token.

Ivan On Tech – BITCOIN: DUMP THEN INSANE PUMP COMING!! (12.07.2024 Summary)

Ivan discusses the current state of Bitcoin and predicts potential price movements in the near future. He notes that Bitcoin recently experienced significant volatility, reaching almost $59,000 before pulling back.

• The main reason for the pullback, according to Ivan, is the potential selling pressure from Genesis, a company that recently went bankrupt and holds about $2 billion worth of Bitcoin.

• Ivan suggests that if Genesis decides to sell their Bitcoin holdings, it could push the price down to around $50,000. However, he emphasizes that this would be a short-term event and an excellent buying opportunity for long-term investors. He states, “if it is the case that Genesis actually goes on to sell their two billion, it is likely that we continue the plan towards 50k.”

• Despite the potential short-term downturn, Ivan remains bullish on Bitcoin’s long-term prospects. He points to upcoming interest rate cuts and the U.S. presidential election as factors that could drive Bitcoin’s price higher. Ivan explains, “from the long term this is the best time to accumulate especially if Genesis also sells is going to be such a gift to get Bitcoin at 50k.”

• Ivan also touches on the broader cryptocurrency market, noting that altcoins haven’t been performing as well as Bitcoin recently. However, he suggests that this trend could reverse soon, potentially leading to an “altcoin season” where smaller cryptocurrencies outperform Bitcoin.

In conclusion, Ivan’s message is one of short-term caution but long-term optimism. He advises viewers to be prepared for a potential dip in Bitcoin’s price but sees it as a buying opportunity before an “insane pump” in the future.

CRYPTO MEMES

“Crypto Bros When They Get Old

“Recently Discovered Shape