Bitcoin
Bitcoin FOMO Starting To Peak As BTC Witnesses Massive Spike in Profit-Taking Transactions: Santiment
Published
1 week agoon
By
adminA prominent analytics firm says FOMO (fear of missing out)-driven crypto investors are diving head first into Bitcoin just as crypto traders unload their BTC stacks.
Santiment says on the social media platform X that Bitcoin’s rise of close to $90,000 in the last few days has rekindled the optimism of BTC holders.
According to the analytics firm, FOMO for BTC is starting to peak as market participants anticipate a potential Bitcoin surge to a six-figure price level.
“Bitcoin’s rise has been so rapid that traders are now speculating how quickly we see a $100,000 market value. Though this price was beyond comprehension just two-three months ago, the community has quickly changed its tune after a +70% surge since the August 5th crash.”
As Bitcoin prints a new all-time high, Santiment notes that traders who positioned before the upside burst are using the rally to offload their coins.
“Bitcoin is seeing a massive spike in profit-taking transactions as traders attempt to sell at the top. Meanwhile, funding rates on Binance and Bitmex indicate aggressive margin and leverage longs looking to capitalize on further rises.”
Even amid the market exuberance, Santiment notes that Bitcoin can still push to much higher levels as long as deep-pocketed investors continue to add to their BTC stacks.
“In the past year, whale and shark wallets with at least 10 BTC have accumulated a total of 234,150 (now worth $19.76B).
Cryptocurrency’s ascension can largely be attributed to the continued confidence and accumulation of these large key stakeholders. However, the crowd’s consistent FUD (fear, uncertainty and doubt), capitulation, and inconsistent faith in crypto (allowing whales to buy cheap) have also contributed to this historic run.
Currently, euphoria is high (though not nearly at the levels of mid-March when Bitcoin was in its previous all-time high cycle). Expect that prices can climb as long as whales continue buying more and the retail crowd keeps selling them their cheap coins during small dips.”
At time of writing, Bitcoin is trading for $87,964, down over 1% on the day.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
Source link
You may like
Polkadot investor predicts a 30,000% rally for this $0.04 token by 2025
Donald Trump Proposed Crypto Advisory Council To Set Up Strategic Bitcoin Reserve
Want Greater Bitcoin Adoption? Engage With Your Government.
Why the Media Loves the Worst of Crypto
HashCats prepares for Token Generation Event after completing mining season
Gary Gensler To Step Down As US SEC Chair In January
Bitcoin
$2 Million PEPE Purchase Sees 105 Billion Tokens Snapped Up
Published
8 hours agoon
November 21, 2024By
adminThey say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Source link
24/7 Cryptocurrency News
Bitcoin Miner MARA Holdings Raises $1B To Buy More Bitcoin
Published
9 hours agoon
November 21, 2024By
adminBitcoin Miner MARA Holdings has raised approximately $1 billion through the sale of its convertible notes. The Bitcoin miner revealed that some of the proceeds from this sale would be used to buy more BTC, although they didn’t mention the exact amount.
Marathon Digital Raises $1B To Buy More Bitcoin
In a press release, the Bitcoin miner revealed that it had raised net proceeds of $980 million from its convertible notes sale after deducting the initial purchaser’s discounts and commissions but before the estimated offering expenses payable by the company.
This development is significant as MARA Holdings revealed that it will use some of the net proceeds to acquire additional BTC. It is worth mentioning that the Bitcoin miner already holds around 27,000 BTC and is the public company with the second-largest Bitcoin holdings.
This development comes as MARA also recently unveiled plans to raise $700m through convertible notes, which will mature in 2030. Meanwhile, the Bitcoin miner looks to be going head-to-head with MicroStrategy, which also recently upsized its private offering to $2.6 billion. The software company will use some of the proceeds to buy more BTC.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Bitcoin
Analyst Says Six-Figure Bitcoin Price Incoming – But Warns One Factor Could Delay BTC Rally Till Next Year
Published
12 hours agoon
November 21, 2024By
adminAnalyst Benjamin Cowen is leaning bullish on Bitcoin (BTC) while warning that one factor could delay the flagship crypto asset from reaching $100,000 before the end of this year.
In an appearance on The David Lin Report, Cowen says that Bitcoin is primed to hit a six-figure price based on historical precedent.
“If you go look at like year-to-date return on investment (ROI)… and you average out all the prior halving years, we’re actually tracking it pretty closely. So if you average out 2012, 2016 and 2020 and then you overlay 2024, right now Bitcoin is at its average of prior halving years – so it’s basically 2x from the yearly open… the average of the other prior three halving years was also 2x from the yearly open.
You can see that the average from the yearly open by the end of the halving year for those was closer to 3x. So if Bitcoin can continue to follow the cyclical view, then it should be able to [reach $100,000].”
Cowen, however, says that a higher-than-expected unemployment rate could delay Bitcoin’s ascent to a six-figure price.
“I think the only thing that would prevent it from doing so would be labor market results that we’re going to get in two weeks.
So my base case is if the unemployment rate comes in low, let’s say it comes in at 4%, 4.1% maybe even 4.2%, would not be so bad. That would favor the cyclical view prevailing.
If it comes in really hot, for whatever reason, let’s say it comes in at 4.3% or 4.4%, then we might have to wait until 2025 for $100,000. That’s the way I see it right now.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Polkadot investor predicts a 30,000% rally for this $0.04 token by 2025
Donald Trump Proposed Crypto Advisory Council To Set Up Strategic Bitcoin Reserve
Want Greater Bitcoin Adoption? Engage With Your Government.
Why the Media Loves the Worst of Crypto
HashCats prepares for Token Generation Event after completing mining season
Gary Gensler To Step Down As US SEC Chair In January
The Chart That Shows Bitcoin’s Bull Run Won’t Stop at $100,000
$2 Million PEPE Purchase Sees 105 Billion Tokens Snapped Up
XRP price expected to reach $7, Dogecoin $3, and PCHAIN $1 from $0.004
Bitcoin Miner MARA Holdings Raises $1B To Buy More Bitcoin
Sui Network blockchain down for more than two hours
Analyst Says Six-Figure Bitcoin Price Incoming – But Warns One Factor Could Delay BTC Rally Till Next Year
How Will BTC React to $3B Buying Spree?
ECB official calls for urgency on digital euro amid global CBDC race
The Story Behind a Crypto Trader Turning $378K into $35.2M
182267361726451435
Top Crypto News Headlines of The Week
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Washington financial watchdog warns of scam involving fake crypto ‘professors’
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Trending
- 2 months ago
182267361726451435
- 24/7 Cryptocurrency News3 months ago
Top Crypto News Headlines of The Week
- Donald Trump4 months ago
Why Did Trump Change His Mind on Bitcoin?
- News3 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin4 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion4 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Price analysis3 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Bitcoin4 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
✓ Share: