This week, Bitcoin (BTC) experienced notable price fluctuations. Starting at approximately $53,991 on August 4, Bitcoin saw a dip to around $49,121 on August 5. However, it rebounded to $57,604 by August 7. This volatility reflects ongoing market dynamics and investor sentiment.
Several factors contributed to these price movements. The anticipation of regulatory developments and macroeconomic conditions played significant roles. Investors are closely watching potential policy changes that could impact the broader cryptocurrency market. Additionally, Bitcoin’s resilience and growing institutional interest continue to bolster its prospects. Analysts suggest that Bitcoin could soon challenge its previous all-time highs, given the current momentum and positive market sentiment.
In the broader cryptocurrency market, Ethereum (ETH) faced a slight downturn. Despite the launch of nine spot Ethereum ETFs in July, ETH prices dropped by 3.4% to close at $3,272. This decline indicates that investors might be taking profits after the initial excitement surrounding the ETFs.
Among other major cryptocurrencies, XRP (XRP) emerged as a strong performer, gaining 26.9% in July. Conversely, Toncoin (TON) struggled, though it remains up 21.5% over the past three months. The total market capitalization of the global cryptocurrency market stands at approximately $2.4 trillion, recovering from the lows of the 2022 crypto winter.
As the market continues to evolve, investors remain cautiously optimistic. The potential for Bitcoin to reach new heights and the ongoing developments in the cryptocurrency space suggest an exciting period ahead for digital assets.
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BITCOIN PRICE STAYING UNDER BITCOIN PRICE STAYING UNDER $1,000 COULD KILL BTC! | New Bullish Cycle In March,000 COULD KILL BTC! | New Bullish Cycle In March
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Could a government kill BTC by manipulating the Bitcoin price to stay under $1,000?
The famous trader and economist Alex Kruger expressed on Crypto Twitter his thoughts on how Bitcoin (BTC) could be eliminated for good.
Tech specialists are investing a lot of cash to control more than half of the Crypto network, but Kruger thinks this process could be completely halted and that a government would be able to kill Bitcoin just by keeping the btc price at under $1,000.
Alex Kruger tweeted…
“Governments could stop bitcoin pretty simply. How? Just short it. Keep it under $1000 for a long while, watch most people loose interest permanently. No need to bother with 51% attacks.”
Kruger then added…
“No need to panic. Government more interested in regulating and taxing than destroying or banning. I don’t think the US govt has any interest in stopping bitcoin. They just want to regulate it. If they wanted to crush it and legally could, then they would, and the intolerant minority would remain. But the masses wouldn’t likely come back for decades. Price in the doldrums.”
In other Crypto news today…
China anti-cryptocurrency FUD is sending BTC into a slump as it enters its third week of sell-offs.
Don’t worry though, says skewAnalytics, Bitcoin will be bullish long term next year.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Governments could stop bitcoin pretty simply.How?
Just short it. Keep it under $1000 for a long while, watch most people lose interest permanently. No need to bother with 51% attacks. https://t.co/5cUtFGPDvd
— Alex Krüger (@krugermacro) November 19, 2019
Options skew analysis tells us market is – bearish short-term (end of November)– neutral medium-term (end of December)
– bullish long-term (March 2019 & beyond) pic.twitter.com/EoXqYEzOcn
— skew (@skewdotcom) November 18, 2019
Bitcoin Will Enter New Bullish Cycle in March 2020, Analysts Confirm
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MAX KEISER: CHINA’S CRYPTOCURRENCY WILL BE GOLD-BACKED | Bitcoin Price 0K Surge
Max Keiser is back, in his latest interview he maintained that the Bitcoin Price will surge to $100K plus but could go even higher if the dollar ultimately collapses.
Gold has also hit new highs recently against the Euro and will continue to grow.
Keiser continued noting that the signals from the US repo markets are indicating that a financial catastrophe is looming and China could well open a trap door on the dollar.
Max Keiser said that China is about to announce that it has amassed as much as 20,000 tons of gold and that a second bombshell will be that China is about to launch a gold-backed cryptocurrency with the intention of destroying the greenback.
Gold and bitcoin prices will continue to surge as the dollar collapses to zero like ‘every piece of garbage fiat before it’.
Peter Schiff and Max Keiser go at it back and forth.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
News Resources From Today’s Show:
China’s ‘DCEP’ Cryptocurrency Will be Gold-Backed: Max Keiser
According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin. He also claims China is about to launch a crypto currency backed by gold. This is bullish for gold and bearish for Bitcoin. A crypto backed by gold is much better than one backed by nothing!
— Peter Schiff (@PeterSchiff) November 1, 2019
Bitcoin is gold that weighs nothing, takes up no space, and can’t be counterfeited or seized. It teleports instantaneously anywhere in the world.
But I don’t blame you for being skeptical Peter, it does sound like science fiction at first.
— Rhythm (@Rhythmtrader) November 2, 2019
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BITCOIN OVERDUE FOR ‘BIG FOMO RALLY’ END OF THIS YEAR, SAYS CRYPTO VETERAN BOBBY LEE!!!!
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Crypto veteran Bobby Lee says Bitcoin (BTC) is overdue for a massive FOMO (fear-of-missing-out) rally this market cycle.
“I’m very bullish on Bitcoin, especially for an end-of-year rally, a FOMO rally this year. So I expect Bitcoin prices to break out again in the next few weeks and months.
I think it’ll easily go over $100,000 and then depending on how sharp the rally is, it’s also likely to even touch $200,000 or even go above that.
Going above $200,000 is a huge milestone, so there’ll be a lot of media coverage and that’s what leads to what they call a fear-of-missing-out rally… I think that a FOMO rally for Bitcoin has been due for a long time now.”
In other trending Bitcoin News today: Missouri Mayor has funded project to give $1,000 in Bitcoin to every household.
Missouri Mayor Jayson Stewart plans to give every household in Cool Valley $1000 worth of Bitcoin. Cool Valley, Missouri, a small town in the St. Louis County area, has about 1,500 residents.
Stewart told Bitcoin Magazine, “Bitcoin is fundamentally American. It is the most American thing. Our government is built on freedom and personal liberty, and rights and self-sovereignty, and all of the things that Bitcoin really is. I think it’s a natural marriage that Bitcoin in America will thrive.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cryptopotato.com/canada-gets-its-first-btc-and-eth-multi-crypto-etf/
https://bitcoinmagazine.com/culture/missouri-mayor-to-give-1000-in-bitcoin-to-every-household
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