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The October 2024 edition of Bitcoin Report is packed with expert insights and price predictions as Bitcoin continues to carve its place as the leading digital asset. This month, we focused on several important topics: the drop in Bitcoin exchange rates, ETF inflows that exceed $5 billion, and bullish price targets that could redefine the value of Bitcoin in the next quarter. Featured contributions come from some of the biggest names in the Bitcoin space, including Caitlin Long, who provides industry insight on the Bitcoin recovery cycle, and Tone Vays, an exclusive price forecaster who provides reasons for optimism as Bitcoin heads to new potential highs.
Report Highlights:
- Analysis of Bitcoin On-Chain: This section examines whether the decline in current account balances and the growing commitment indicate an increase in long-term holding sentiment. As the balances of Bitcoin exchanges hit new lows, it shows the growing confidence among investors who prefer to control their assets rather than leave them in the exchange.
- Bitcoin ETFs: October saw more than $5.4 billion inflows into Bitcoin ETFs, with BlackRock’s IBIT leading the market. This record-setting month underscores the growing acceptance of Bitcoin in mainstream financial markets, bolstered by the approval of options trading on Bitcoin ETFs. Dr. Michael Tabone, Economist and Professor at the University of the Cumberlands, offers his view on how this operation could play out in the coming months.
- Bitcoin Mining Update: Russia and China have quietly increased their influence in global mining, while the US still holds the largest share of the hashrate. Lukas Pfeiffer of Crypto Oxygen explains in detail how these shifts could change the dynamics of global mining and what they mean for the future.
- Price prediction with Tone Vays: Bitcoin analyst Tone Vays remains incredibly optimistic about the future price of Bitcoin, citing many technical indicators and historical patterns. The report details potential price targets from $102,000 to $140,000 by mid-2025, supported by advanced technical analysis such as Fibonacci extensions and the classic cup and handle chart pattern.
- Industry Insights from Caitlin Long: Caitlin Long, Founder and CEO of Custodia Bank, offers her perspective on Bitcoin adoption trends and how the broader economic climate continues to favor the decentralized asset. According to Long, Bitcoin’s fundamentals are strong, and the bull market may be at an end following the 2024 US presidential election.
The report also contains important contributions from other experts in the Bitcoin ecosystem, including Philip Swift on Bitcoin derivatives, Lucas Betschart on regulatory changes, Pete Rizzo on Bitcoin history, Pascal Hügli on on-chain analysis, Dr. Michael Tabone on Bitcoin stocks and ETFs, Joël Kai Lenz on Bitcoin discovery, and Patrick Heusser on technical analysis. These contributions provide a good look at the current state of Bitcoin and its future potential.
Get complete information, charts, and analysis by accessing the full report now. We invite your organization to explore potential sponsorship or co-publishing opportunities for future programs by contacting Mark Mason at mark.mason@btcmedia.org. Let’s drink the whole world together!
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