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Could Kamala Harris Be Better for Bitcoin Than Trump? VanEck Thinks So
Published
2 months agoon
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adminMany Bitcoiners have their fingers crossed that crypto-friendly Donald Trump will win the U.S. Presidential election in November. The former president has painted himself as the Bitcoin-loving candidate, after all.
But what if Democratic candidate Kamala Harris is the better overall option for the orange coin? That’s an idea VanEck analysts floated in a report this week.
Their reasoning is that a Harris presidency would continue the current economic policies that they believe would weaken the U.S. dollar and push Bitcoin adoption.
The two analysts argued in July that major world economies could turn to Bitcoin as a result of noticing the “endemic flaws” of fiat currencies. The Democrat in the White House would be unlikely to cure the current financial problems, in their view.
“We would argue that a Kamala Harris presidency might be even better for Bitcoin than a second term for Trump because it would, in our view, accelerate many of the structural issues that drive Bitcoin adoption in the first place,” the Thursday report by Matthew Sigel and Patrick Bush argued.
They added that “as inflation and currency devaluation continue challenging fiat monetary systems, Bitcoin can serve as a vital hedge.”
The two went on to say that Trump would be better for the digital asset ecosystem as a whole, not just Bitcoin on its own.
“Conversely, we believe a Trump presidency is generally bullish for the entire crypto ecosystem, as it would likely produce more deregulation and business-friendly policies—perhaps particularly so for crypto entrepreneurs, who regulators have increasingly scrutinized in the past four years,” the report read.
Ex-President Donald Trump used to call the crypto space a “scam,” but has since embraced NFTs, Bitcoin, and has even launched his own upcoming decentralized finance (DeFi) project called World Liberty Financial.
Just Wednesday, the Republican candidate used Bitcoin to pay for burgers at the PubKey bar in New York City. “It’s the beginning of a new era,” he said after using the technology.
Vice President Harris, on the other hand, has said very little about the crypto industry. Some bigwigs in the industry—like billionaire entrepreneur Mark Cuban—have hinted that her campaign is taking more of an interest in crypto, but the Democratic candidate has yet to make her views or plans public.
Edited by Andrew Hayward
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The Bitcoin Pi Cycle Top Indicator: How to Accurately Time Market Cycle Peaks
Published
2 hours agoon
November 22, 2024By
adminThe Bitcoin Pi Cycle Top Indicator has gained legendary status in the Bitcoin community for its uncanny accuracy in identifying market cycle peaks. Historically, it has timed every single Bitcoin cycle high with remarkable precision—often within just three days. Could it work its magic again this cycle? Let’s dive deeper into how it works and its significance in navigating Bitcoin’s market cycles.
What is the Pi Cycle Top Indicator?
The Pi Cycle Top Indicator is a tool designed to identify Bitcoin’s market cycle tops. Created by Philip Swift, Managing Director of Bitcoin Magazine Pro in April 2019, this indicator uses a combination of two moving averages to forecast cycle highs:
- 111-Day Moving Average (111DMA): Represents the shorter-term price trend.
- 350-Day Moving Average x 2 (350DMA x 2): A multiple of the 350DMA, which captures longer-term trends.
When the 111DMA rises sharply and crosses above the 350DMA x 2, it historically coincides with Bitcoin’s market cycle peak.
The Mathematics Behind the Name
Interestingly, the ratio of 350 to 111 equals approximately 3.153—remarkably close to Pi (3.142). This mathematical quirk gives the indicator its name and highlights the cyclical nature of Bitcoin’s price action over time.
Why Has It Been So Accurate?
The Pi Cycle Top Indicator has been effective in predicting the peaks of Bitcoin’s three most recent market cycles. Its ability to pinpoint the absolute tops reflects Bitcoin’s historically predictable cycles during its adoption growth phase. The indicator essentially captures the point where the market becomes overheated, as reflected by the steep rise of the 111DMA surpassing the 350DMA x 2.
How Can Investors Use This Indicator?
For investors, the Pi Cycle Top Indicator serves as a warning sign that the market may be approaching unsustainable levels. Historically, when the indicator flashes, it has been advantageous to sell Bitcoin near the top of the market cycle. This makes it a valuable tool for those seeking to maximize gains and minimize losses.
However, as Bitcoin matures and integrates further into the global financial system—bolstered by developments like Bitcoin ETFs and institutional adoption—the effectiveness of this indicator may diminish. It remains most relevant during Bitcoin’s early adoption phase.
A Glimpse Into the Future
The big question now is: will the Pi Cycle Top Indicator remain accurate in this cycle? With Bitcoin entering a new era of adoption and market dynamics, its cyclical patterns may evolve. Yet, this tool has proven its worth repeatedly over Bitcoin’s first 15 years, offering investors a reliable gauge of market tops.
Final Thoughts
The Pi Cycle Top Indicator is a testament to Bitcoin’s cyclical nature and the power of mathematical models in understanding its price behavior. While its past accuracy has been unparalleled, only time will tell if it can once again predict Bitcoin’s next market cycle peak. For now, it remains an indispensable tool for those navigating the thrilling highs and lows of Bitcoin.
Explore the full chart and stay informed.
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Bitcoin Nears $100,000 As Trump Council Expected To Implement BTC Reserve
Published
10 hours agoon
November 22, 2024By
adminWhat an enormous day it has been today.
Gary Gensler officially announced that he is stepping down from his position as Chairman of the Securities and Exchange Commission (SEC), and minutes later, Reuters reported that Donald Trump’s “crypto council” is expected to “establish Trump’s promised bitcoin reserve.” A bitcoin reserve, that would see the United States purchase 200,000 bitcoin per year, for five years until it has bought 1,000,000 bitcoin.
Right after both of those, Bitcoin continued its upward momentum and broke $99,000, with $100,000 feeling like it can happen at any second now.
It is hard to contain my bullishness thinking about the United States purchasing 200,000 BTC per year. They essentially have to compete with everyone else in the world who is also accumulating bitcoin and attempting to front run them. There are only 21 million bitcoin and that is a LOT of demand.
To put this into context, so far this year the US spot bitcoin ETFs have accumulated a combined total of over 1 million BTC. At the time of launch the price was ~$44,000 and now bitcoin is practically at $100,000. And that’s all ETFs combined. Imagine what will happen when just one entity wants to buy a total of 1 million coins, having to compete with everyone else accumulating large amounts as well?
I mean MicroStrategy literally just completed another $3 BILLION raise to buy more bitcoin, and will continue raising until it purchases $42 billion more in bitcoin. The United States are most likely going to be purchasing their coins (if this legislation is officially signed into law) at very high prices. The demand is insane and only rising in the foreseeable future.
With two months left to go until Trump officially takes office, it remains to be seen if this bill becomes law, but at the moment things are looking really good. As Senator Cynthia Lummis stated, “This is our Louisiana Purchase moment!” and would be an absolutely historic moment for Bitcoin, Bitcoiners, and the future financial dominance of the United States of America.
This is the solution.
This is the answer.
This is our Louisiana Purchase moment!#Bitcoin2024 pic.twitter.com/RNEiLaB16U
— Senator Cynthia Lummis (@SenLummis) July 27, 2024
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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Markets
The Chart That Shows Bitcoin’s Bull Run Won’t Stop at $100,000
Published
18 hours agoon
November 21, 2024By
adminPeak Bitcoin, hardly.
As I wrote in Forbes in 2021, the world is waking up to a new reality in regards to Bitcoin – the unlikely truth that Bitcoin’s programming has cyclical effects on its economy.
This has led to at least 4 distinct market cycles where Bitcoin has been branded a bubble, skeptics have rung their hands, and each time, Bitcoin recovers more or less 4 years later to set new all-time highs above its previously “sky-high” valuation.
I personally watched Bitcoin go from $50 to $1,300 in 2013. Then, from $1,000 to $20,000 in 2017, and I watched it go from $20,000 to $70,000 in 2021.
So, I’m just here to relate that, from my past experience, this market cycle is just heating up.
For those who have been in Bitcoin, there’s one tried-and-true and that’s Google Search. As long as I’ve been in Bitcoin, this has been the best indicator of the strength of the market.
Search is low, you’re probably in a bear market. Search heading back to all-time highs? This means new entrants are getting engaged, learning about Bitcoin, and becoming active buyers.
Remember, this is a habit change. Bitcoin HODLers are slowing shifting their assets to a wholly new economy. So, Google Trends search then, represents a snapshot of Bitcoin’s immigration. It shows how many new sovereign citizens are moving their money here.
And it’s something that all who are worried about whether bitcoin’s price topping out in 2024 should pay attention to.
Last year was the Bitcoin halving, and historically, the year following previous halvings has led to price appreciation. Maybe you’re tempted to think, “this time is different” – not me. I look at search and I see a chart that continues to accelerate into price discovery. Trust me when I say no one I know is selling bitcoin.
As shown above, buyer interest is accelerating, and these new buyers have to buy that Bitcoin from somewhere. Add nation states, US states, and a coming Trump administration set to ease the burden on the industry?
Well, I think the chart above says it all really.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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