Bitcoin Leads Other Major World Assets With 83.8% Gain in H1

[ZooneCaf]

Reported data shows that Bitcoin’s value increased by 83.8% in the first half of 2023, ranking first and exceeding other major world assets by a significant margin. In the second position is the Nasdaq index, whose value increased by 31.7%. A 37% drop in value puts natural gas in the bottom position following the fall in the prices of other energy sources.

Data shows that in the first half of 2023, Bitcoin increased by 83.8%, ranking first, far exceeding other major assets in the world.

The Nasdaq index rose 31.7%, ranking second, and other major national stock markets rose. The price of natural gas fell by 37%, ranking the… pic.twitter.com/bou05S8aH0

— Wu Blockchain (@WuBlockchain) July 2, 2023

Bitcoin’s trajectory for 2023 has been clear and with a bullish undertone. The flagship cryptocurrency kicked off the year with a strong bullish sentiment. The bitcoin price rose by 47% within the first month of the year, setting the tone for the following weeks.

The cryptocurrency’s rise was characterized by typical declines, with support and resistance levels impacting the price change. Bitcoin’s price dropped to $19,569 in March after climbing over $25,000 for the first time since August 2022.

Many Bitcoin analysts identified the climb above $25,000 as a significant move to confirm the end of the bear market. Despite the pullback after that, the majority of Bitcoin’s proponents considered it a consolidation and an accumulation opportunity. That belief was supported by the anticipation of a bull run ahead of the next Bitcoin halving, which comes up in 2024.

Another phase of the bullish trend returned to the Bitcoin market in the middle of March. Bitcoin gained over 58% in about four weeks during that period, as the price surpassed the $30,000 level for the first time since June 2022.



After that surge, Bitcoin entered into another consolidation, pulling back toward the $25,000 support region. After reaching a local low of $24,756, the bullish momentum returned, with the price returning above the $30,000 price level.

Data from TradingView shows that Bitcoin’s price at the end of June was $30,469, marking a yearly gain of over 83%. Bitcoin traded at $30,503 at the time of writing, with the positive momentum still intact.

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MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

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KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/
=)

[GerSteLp]

Morgan Creek Capital founder Mark Yusko is naming two catalysts that could send the price of Bitcoin (BTC) flying to fresh all-time highs.

In a new Kitco News interview, Yusko says that Bitcoin will likely surge on the back of its upcoming halving event the possible approval of a spot-based Bitcoin exchange-traded fund (ETF).

"I think this halving, a $100,000 will be the fair value. So fair value will Crete from $55,000 today to by the halving next April, May, call it June… let's call it the middle of summer next year, a $100,000 will be fair value.

[img]https://dailyhodl.com/wp-content/uploads/2023/08/Catalysts-Will-Catapult-Bitcoin.jpg?resize=750,375[/url]

But we won't go to $100,000. We will get to a $100,000, and then we'll have speculation. Now, how much speculation?

Depends on the approval and the timing of the approval [of a spot Bitcoin ETF] and where we are in the adoption cycle and how much of that $300 billion is coming in.

It depends on the amount of leverage that allows people to increase their buying power. And I think the leverage will be lower this time. And so let's say we blow through that $100,000 and we're at $150,000. That seems reasonable to me. So somewhere between $100,000 and $150,000."

Bitcoin is trading at 29,373 at time of writing. A move to Yusko's upper range target suggests a 410% rise for Bitcoin from its current price.

Yusko also says that US financial advisors using ETFs control $30 trillion and an allocation of 1% to Bitcoin would have a “huge” impact on BTC.

"It's a $30 trillion market that is advisors that use ETFs. Let's say they do one-tenth of 1%: $30 billion. That's not that much, that's not going to move the price of a $500 billion asset. It's not a $500 billion asset of free float. Free float is maybe a $100 billion, maybe. So $30 billion on $100 billion, price is going to go up.

It might not be one-tenth of 1%. What if everybody did 1%, which isn't even outlandish given it's the best-performing asset last three years, last five years, last 10 years, since inception 14 years ago?

So if I'm an investor or I'm a fiduciary of investors as an IRA (Individual Retirement Account), I might have to put some percentage in Bitcoin if everyone else is doing it. So at that point what if it's 1%? Now we're talking $300 billion on $100 billion of free float. That's a big move, big, like huge."

[youtube]o9lFRPCg1HE[/youtube]

https://www.youtube.com/watch?v=o9lFRPCg1HE

Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/ethereum
=)

[Dupstrip]

According to the last minute development, the press release confirmed that the launch date of the DOGE-1 Moon mission is November 15-20.


DOGE movement after the news

The DOGE-1 Moon Mission, the first commercial Moon mission fully paid for in Dogecoin, has confirmed its launch date of November 15-20, 2023.

Announced by Geometric Energy Corporation (GEC) and SpaceX in May 2021, the mission will launch with the SpaceX Falcon 9 rocket as a vehicle share in the Nova-C/IM-1 mission, a joint mission between Intuitive Machines and NASA.

Mission DOGE-1 will include a 40kg cubed satellite that will orbit the Moon and gather lunar-spatial information using onboard sensors and a camera.

The launch of DOGE-1 was originally scheduled for Q1 2022, but was delayed due to delays in SpaceX's Nova-C mission.

*Not investment advice.

Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/ripple
=)

[EtegeNix]

Visa announced the expansion of its stablecoin settlement capabilities to include the Ethereum and Solana blockchains. The company is partnering with merchant acquirers Worldpay and Nuvei for pilot programs.

As part of live pilots, Visa has already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet, the payments giant detailed in a press release.

Cuy Sheffield, Head of Crypto at Visa, stated that the move aims to speed up cross-border settlements and provide a stablecoin payment option for clients. “By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” said Sheffield.

Worldpay and Nuvei are fintech companies serving merchants across various sectors. With Visa’s support, they expect to offer merchants the option to receive payments in stablecoins like USDC.

This announcement also marks Visa’s inclusion of Solana as a supported blockchain for settlements, making it one of the first major payment companies to do so.



Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/portfolio
Crypto Review: https://my-crypto-jam.blogspot.com/2023 ... kRock.html
=)

[Dupstrip]

Can blockchain protocols distinguish honest folk from criminals?

Vitalik Buterin, co-founder of the Ethereum network, and four co-authors outlined a way of doing just that in a research paper released Wednesday, detailing a new technological feature called “privacy pools.”

This “smart contract-based privacy-enhancing protocol” is designed to separate transactions that involve criminal activity from those that come from honest users.

The paper, “Blockchain Privacy and Regulatory Compliance: Towards a Practical Equilibrium,” comes as concerns around privacy in blockchain have crescendoed, with governments cracking down on criminal groups who make use of privacy mixers to hide and launder funds.

One of the best-known privacy protocols is Tornado Cash, a crypto “mixer” that has been sanctioned by the U.S. Treasury due to its alleged use by the North Korean hacking group Lazarus as a tool for money laundering.

Buterin acknowledged that Tornado Cash was a good solution to privacy issues, but that it had limited options to dissociate from criminal activity on the network.

Privacy pools that make use of zero-knowledge technology could theoretically solve part of this issue since they would give users privacy around transaction data while also distinguishing it from any criminal activity. By pooling honest transactions together, users could prove that their transactions come from one of the honest deposits.

“All users with ‘good’ assets have strong incentives and the ability to prove their membership in a ‘good’-only association set,” the paper says. “Bad actors, on the other hand, will not be able to provide that proof.”

As more regulators crack down on criminal activity on the blockchain, Buterin aims to show that these technological innovations can comply with regulations.

“In many cases, privacy and regulatory compliance are perceived as incompatible,” the authors wrote. “This paper suggests that this does not necessarily have to be the case, if the privacy-enhancing protocol enables its users to prove certain properties regarding the origin of their funds.”



Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/
Crypto Review: https://my-crypto-jam.blogspot.com/2023 ... olios.html
=)

[biabannY]

Wall Street financial veteran Linda Jones recently drew the public’s attention to a rumor about US-based financial giants considering XRP alongside their Bitcoin pursuit.

In a recent tweet, a prominent figure in the XRP community, “WallStreetBulls” disclosed that rumors are supposedly circulating regarding tech behemoths such as BlackRock reevaluating their cryptocurrency strategies.

Specifically, WallStreetBulls mentioned that the preeminent firms are reviewing their positions on Bitcoin. He added that the reexamination process includes the financial giants considering alternative digital assets like XRP.

In response to the tweet, Linda Jones gave credibility to the speculation. She remarked, “It has to happen, eventually.”

It has to happen, eventually. https://t.co/QoqRXTN7oa

— Linda P. Jones (@LindaPJones) September 13, 2023

XRP Community Reacts

However, some other members of the XRP community shared opposing views regarding the update Jones vouched for.

X user Primo argued that while the information seemed likely given XRP’s supposed superior use case, there was no reputable source behind the information.

Furthermore, Primo alleged that the XRP influencer that promulgated the rumor was just after engagements. He expressed disapproval that Jones helped him achieve his desired objectives.

“Dude in it for engagements, and you gave him some props. We don’t need this right now,” Primo remarked.

Meanwhile, when questioned about the authority behind the rumor, WallStreetBulls cited an article Forbes published last month. The article’s title read: “Leak Reveals BlackRock’s Game-Changing Bitcoin Plan That Could Cause Price Chaos For Ethereum, XRP And Crypto.”

However, the cited article did not shed light on the claim that BlackRock could be reevaluating its Bitcoin stance to consider XRP. Instead, the piece largely referenced the opinions of Mike Novogratz, Galaxy Digital’s CEO, about BlackRock’s ETF move.

Moreover, the XRP community pointed out the weakness of the source to the poster. Many consider it misleading that he termed the update breaking news only to reference a dated article as the source.



Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.


My bitcoin-blog: https://sites.google.com/view/cardano-potential-growth/
=)

[ZodeWork]

In recent discussions surrounding Bitcoin (BTC) and its potential future price trajectory, crypto-enthusiasts and analysts alike are finding new correlations to dissect. Most notably, a correlation with the EURUSD pair (the euro against the US dollar) has come into the spotlight due to a Twitter thread by esteemed analyst Josh Olszewicz.

Olszewicz begins by setting the stage, drawing attention to the widely acknowledged inverse correlation between Bitcoin and the DXY (US Dollar Index). He notes, “Most are aware of the strong historic BTC-DXY inverse correlation. DXY is a USD index against a basket of currencies which has a EURUSD weighting of around 58%. So the BTC-EURUSD correlation should also be relatively high.”

Will Bitcoin Price Follow EURUSD?

What’s intriguing here is the observation Olszewicz makes about the BTC-EURUSD correlation in the period following the pandemic and the last Bitcoin halving. He mentions that the “post-pandemic (post-halving) EURUSD pair has led BTC in both the bullish and bearish direction by anywhere from a month to a full year.”



This pattern, if it continues to persist, might spell some bearish tendencies for Bitcoin. Olszewicz goes on to suggest that, “If this relationship continues to hold, BTC should break down towards the BTFP low of $20k.” This statement is a significant one, indicating a potential substantial drop from its current position, all based on the movement patterns of the EURUSD.

Related Reading: New Bitcoin Prediction: Analyst Backs BTC To Reach $34,500 In 2024

Further supporting this projection, he highlights a technical pattern observed in both BTC and EURUSD, stating, “the EURUSD has completed a bearish H&S, similar to BTC, providing technical fuel for further downside.” A ‘bearish H&S’ refers to the bearish ‘head and shoulders’ pattern, a chart formation that predicts a bullish-to-bearish trend reversal.

However, it’s not all gloom and doom. Olszewicz does provide a glimmer of hope for Bitcoin bulls. He posits, “If you’re bullish on BTC here, you’re either hoping this relationship weakens/breaks, or the EURUSD begins to strengthen instead of continuing to weaken.”

BTC’s Second High Does Not Fit

Olszewicz also touches upon some “tin foil” speculations, discussing how the BTC-EURUSD correlation had been seemingly disrupted during Bitcoin’s second high in November 2022. He suggests that the continued fall of EURUSD did not immediately impact Bitcoin’s bullish trend, speculating that actions from major crypto players like 3AC, FTX/Alameda, and the Anchor BTC reserve might have played a role.

Related Reading: Coinbase Holds $25 Billion Worth Of Bitcoin, Becomes Largest Holder With 1M BTC

He states, “It is both possible and likely that the funny business behind the scenes by 3AC & FTX/Alameda, as well as the Anchor BTC reserve, helped delay the inevitable bearish trend by about a year.”



While correlations can provide insight, they are by no means a guarantee of future market movements. Investors should exercise caution and conduct their own research when making investment decisions. Rose Premium Signals added, “interesting observation about the BTC-EURUSD correlation. It’s essential to consider multiple factors in crypto analysis. The relationship could indeed evolve, impacting BTC’s future movements.”

At press time, BTC stood at $26,180.


Featured image from iStock, chart from TradingView.com

Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.

My bitcoin-blog: https://sites.google.com/view/dogecoin- ... al-growth/
=)