Month: August 2024

Bitcoin Down But Not Out: BTC To $700,000 Highly Probable Says Analyst

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Bitcoin remains volatile at spot rates. Despite the spectacular recovery yesterday, August 1, the downtrend remains, at least for now. Specifically, looking at the candlestick arrangement in the daily chart, there could be more growth once prices break $70,000. Before then, traders are closely monitoring price action aware that there could be more losses, pushing the coin below $60,000. Amid this, some analysts are bullish in the long term, ignoring short-term price volatility. Bitcoin Remains Bullish Despite Recent Price Drops In a post on X, Willy Woo, an on-chain analyst,…

MicroStrategy (MSTR) Bull Doubles Down on The Stock by Raising Price Target to Street High of $2,150

Since adopting bitcoin as its primary treasury reserve asset in August 2020, Executive Chairman Michael Saylor-led company has appreciated 1,206%, Benchmark’s analyst Mark Palmer wrote in a research report on Friday. The stock’s performance, since then, stands in contrast to bitcoin (BTC), the S&P 500 and Nasdaq which have gained 442% 64% and 60%, respectively, he noted. Source

Bitcoin reserve bill could be a ‘disaster in the making’

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As Senator Lummis pushes for Bitcoin to stabilize the U.S. dollar, Moe Vela warns of the risks. Read on. During the Bitcoin 2024 conference in Nashville on July 27, US Senator Cynthia Lummis proposed that the U.S. government consider Bitcoin (BTC) as a strategic reserve asset to stabilize the dollar’s value and counter inflation.  In a follow-up to her initial announcement, on July 31, Senator Lummis officially introduced the Bitcoin Strategic Reserve bill. This legislation aims to direct the U.S. government to establish a reserve fund specifically for Bitcoin, ensuring it…

Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

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Cardano (ADA) is currently competing with Ethereum in terms of large transaction volume. This is undoubtedly a positive development for the ADA ecosystem, especially since it indicates a wave of accumulation among the token’s large holders.  Cardano Matches Ethereum In Large Transaction Volume Data from the market intelligence platform IntoTheBlock shows that Cardano is witnessing a similar large transaction volume as Ethereum. In the last 24 hours, Cardano recorded a large transaction volume of $6.7 billion, while Ethereum witnessed a large transaction volume of $6.71 billion.  Related Reading This development…

Morgan Stanley to allow advisors to offer Bitcoin ETF investments

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Morgan Stanley has become the first major Wall Street bank to allow its financial advisors to advise Bitcoin ETF investments.  Morgan Stanley will now allow its financial advisors to offer Bitcoin (BTC) ETFs to eligible clients starting August 7, according to reporting by CNBC, making it the first major Wall Street bank to do so, Morgan Stanley has nearly 1500 advisors who can now solicit clients to purchase shares of BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. This follows the SEC’s approval of 11 spot Bitcoin ETFs…

PlayDoge ICO Nears $6M as Retro-Style P2E Meme Coin Goes Viral

PlayDoge (PLAY), the latest meme coin sensation, is on the verge of hitting a major milestone. This retro-style project is nearing the $6 million mark in its limited-time presale. Both investors and gamers are eager to get in on the action – and the excitement around PlayDoge’s prospects is growing fast. PlayDoge Combines 90s Nostalgia […] Source CryptoX Portal