Bitcoin
Bitcoin In Red, Analyst Predicts A 40% Drop To $48,000 Before Recovery
Published
5 days agoon
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admin![](https://blocknewsmedia.com/wp-content/uploads/2024/06/DALL·E-2024-06-21-17.06.10-A-digital-artwork-depicting-a-dramatic-financial-scene-with-Bitcoin-logos-downward-arrows-and-market-charts-showing-a-significant-drop.-The-scene-is-.jpg)
Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.
His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn’t just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.
His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.
Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.
Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.
DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn’t a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.
Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa’s full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.
Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.
When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.
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Bitcoin Weekend Trading Volumes Plunge To Record Lows
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Bitcoin
Bitcoin Weekend Trading Volumes Plunge To Record Lows
Published
12 mins agoon
July 1, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/a.jpg)
Bitcoin has long been a hallmark of the cryptocurrency markets, thriving on its 24/7 accessibility. Weekend trading, once a notorious breeding ground for volatility, has been especially significant in the cryptocurrency landscape.
However, a recent report by Kaiko reveals a not so rosy picture – BTC weekend trading volumes have plunged to historic lows, potentially marking a new era dominated by institutional weekday warriors.
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Bitcoin Trading Activity Takes A Nap
Kaiko’s data is straightforward: Bitcoin weekend trading activity has shrunk dramatically, dropping from a high of 28% in 2019 to a mere 16% in 2024. This dramatic decline coincides with the highly anticipated launch of spot Bitcoin ETFs in the US. These exchange-traded funds, mirroring the behavior of stocks, can only be traded during traditional market hours.
![](https://www.newsbtc.com/wp-content/uploads/2024/07/A.png?resize=682%2C373)
The influence of institutional investors, who tend to favor these regulated products, is evident. The report highlights a surge in Bitcoin trading activity during the “benchmark fixing window” – the final hour of US stock market trading. This suggests institutions are shaping new trading patterns, prioritizing weekdays over the once-active weekends.
![](https://www.newsbtc.com/wp-content/uploads/2024/07/A_956510.png?resize=682%2C359)
Beyond Weekends: A Multifaceted Market Transformation
The decline in weekend activity isn’t solely attributable to ETFs. The closure of crypto-friendly banks like Signature and Silicon Valley Bank in March 2023 is another contributing factor. These institutions provided 24/7 infrastructure that enabled market makers to constantly place buy and sell orders. Their absence has created a void in weekend liquidity, further dampening trading activity.
However, the changing landscape isn’t all doom and gloom. The report offers a glimmer of hope for investors seeking stability. The reduced weekend volatility could make Bitcoin a more predictable asset, potentially attracting a new wave of institutional interest. Additionally, the historical trend suggests July could be a positive month for Bitcoin, with price increases observed in seven out of the past 11 Julys.
Jitters On The Horizon?
While the weekend trading scene may be quieting down, the coming weeks look to be somewhat turbulent for the crypto market. The potential approval of Ethereum ETFs could further fuel institutional involvement and potentially impact Bitcoin’s dominance.
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The Road Ahead
The dwindling weekend trading activity signifies a potential paradigm shift in the Bitcoin market. While the once-volatile weekends may become a relic of the past, the coming months promise to be eventful.
Institutional investors are now in the spotlight, shaping new trading patterns and potentially ushering in an era of greater stability. However, this month could still introduce significant volatility, keeping investors on the edge of their seats.
Featured image from Inc. Magazine, chart from TradingView
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Bitcoin
Bitcoin ATM installations reach 38k, below the all-time high
Published
6 hours agoon
July 1, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Bitcoin-BTC-ATM03.webp.webp)
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The global Bitcoin ATM market has seen significant growth. There are now over 38,000 Bitcoin ATMs worldwide, up from just over 10,000 in October 2020 and down by 2,000 from its all-time high (ATH) of nearly 40,000 in December 2022.
According to data available on Coin ATM Radar, the global tally of installed Bitcoin ATMs stands at 38,279 as of the latest count.
This expansion is driven by factors such as accessibility and ease of use, profitability for operators who earn transaction fees above the Bitcoin spot price, and favorable regulatory environments in many countries that support setup and expansion.
Additionally, Bitcoin ATMs provide enhanced privacy and security, allowing users to transact without divulging personal information and enabling direct deposits into digital wallets.
Despite their advantages, the industry faces challenges. Many operators lack the necessary experience, financial backing, or business acumen required for success, compounded by regulatory uncertainties in certain regions.
To address these issues, industry leaders emphasize the importance of public education on the benefits of cryptocurrencies and the need for reliable customer support. Building greater understanding and trust among users could encourage broader adoption of Bitcoin ATMs and digital assets.
As demand grows for convenient and secure cryptocurrency transactions, the Bitcoin ATM market is poised for further expansion. Strategic approaches and supportive regulatory frameworks could propel this industry into a pivotal role in the global adoption of digital assets.
Bitcoin holds steady at $60k
Bitcoin’s (BTC) price trajectory in 2024 has been marked by significant volatility and a bullish momentum. March saw Bitcoin achieving a new all-time high, surpassing $69,000 and briefly touching $73,000 before undergoing a correction.
This surge was driven by pivotal events this year: regulators approved the first spot Bitcoin ETFs in January, and April’s halving event reduced the block reward from 6.25 BTC to 3.125 BTC.
Experts anticipate a new growth cycle in the crypto market, potentially peaking between 2024 and 2025, in line with the four-year market cycle theory.
However, external factors such as global developments and regulatory changes could also influence Bitcoin’s price trajectory. Despite ongoing scrutiny of Bitcoin’s long-term prospects, its historical resilience suggests the possibility of a rebound.
Analysts maintain optimism regarding Bitcoin’s future price movements, with some forecasting it could surpass $80,000 in the coming years.
Over the past 60 days, the Bitcoin price has risen by 7.3%, climbing from approximately $57,000 to its current level of $61,532.
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Bitcoin
Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs
Published
16 hours agoon
June 30, 2024By
adminJune was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed.
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However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong.
New BTC Addresses Surge To 2-Month High
Despite the price slump, the network is exhibiting a promising trend that signals future growth for the world’s largest cryptocurrency. According to Glassnode chart data initially shared on social media platform X by crypto analyst Ali Martinez, new BTC wallet addresses have risen steadily over the past week to reach 352,124, their highest level since April.
Interestingly, the chart shows that the recent uptick in new addresses contrasts with a larger decrease in the creation of new addresses since November 2023. This new increase points to an influx of new users entering the crypto space. As more people adopt Bitcoin, demand will inevitably grow, which is a catalyst for price surges down the line.
Furthermore, Martinez suggested that the uptick in new addresses is from retail investors making a comeback. While institutional investors often drive major market moves, retail interest is crucial for Bitcoin’s mainstream adoption.
Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0
— Ali (@ali_charts) June 29, 2024
A major part of the increase in new addresses can be attributed to recent adoption in the Brazilian market. Nubank, Brazil’s biggest neobank, recently announced plans to integrate Bitcoin’s lightning network into its services. As the largest fintech bank in Latin America, this integration could potentially expose a significant portion of its 100 million customers to the digital asset.
What’s Next For Bitcoin?
At the time of writing, Bitcoin was trading at $61,446. The leading digital asset has lost over 10% of its market cap in a 30-day time frame and the bulls are struggling to break above $61,000. This downtrend could be attributed to a selloff by miners and many long-term holders. Specifically, around 40,000 BTC were sold by long-term holders in June.
Bear markets are temporary. Bull runs will return. It’s just a matter of when, not if. With the second half of the year now approaching, time can only tell how the price of Bitcoin unfolds. Of course, new wallet addresses don’t directly impact price, but they are a leading indicator of growing Bitcoin adoption.
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This adoption and demand, coupled with a recent decrease in the number of new Bitcoins entering the market, points to an increase in the price of Bitcoin in July.
Featured image from CNBC, chart from TradingView
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