Bybit, a prominent cryptocurrency exchange, has announced its decision to cease operations in France due to recent regulatory developments. Effective August 2, 2024, Bybit will restrict all accounts held by French residents to a “Close-Only” mode, preventing new positions from being opened or new funds from being deposited. This move comes in response to the Autorité des Marchés Financiers (AMF), France’s financial regulator, which has been tightening its oversight of cryptocurrency platforms.
The AMF had previously blacklisted Bybit in 2022, citing the exchange’s failure to register as a Digital Asset Services Provider (DASP). This blacklisting has now culminated in Bybit’s decision to exit the French market. The exchange has instructed its French users to close all open positions and withdraw their assets by August 13, 2024, after which any remaining positions will be automatically liquidated.
Bybit’s departure from France highlights the increasing regulatory scrutiny faced by cryptocurrency exchanges in Europe. The AMF’s actions are part of a broader effort to curb illicit activities such as money laundering and to protect retail investors. Bybit has expressed its intention to return to the French market once it secures the necessary regulatory licenses.
This development is a significant blow to Bybit, which had recently surpassed Coinbase to become the world’s second-largest exchange by trading volume. The exchange’s exit from France underscores the challenges that cryptocurrency platforms face in navigating complex regulatory environments. As the industry continues to evolve, exchanges like Bybit will need to adapt to ensure compliance and maintain their market positions.
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PLAN B SAYS, BITCOIN IS GOING TO $500K BY Q2 NEXT YEAR?! BTC SUPPLY SHOCK INCOMING – BTFD LAST CALL!
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Renowned quantitative analyst PlanB is revealing what he thinks the end of this year will bring for Bitcoin, and how much longer the current crypto bull market can last.
The top end of PlanB’s S2FX model pins $288,000 for BTC at the peak of this cycle. However, the analyst suggests that a brief shot above that target before finally correcting is not impossible.
“I guess we will be above $100,000 [or] above $135,000 at the end of the year, and we’ll continue to grow maybe towards the S2FX model targets, $288,000 or even above. I would not be surprised even to see in Q1 or Q2 next year, prices of $300,000, $400,000, $500,000…”
In other trending Bitcoin News today: Bitcoin Supply Shortage Setting the Stage for Higher Prices, According to Crypto Analyst Nicholas Merten!
Popular crypto analyst Nicholas Merten of DataDash is looking at one key metric to explain what’s fueling Bitcoin’s bull run towards new all-time highs.
“So we’re in October. We were hoping by the end of this year that we would see a rise back up to previous all-time highs of 65k, and then set the stage to continue climbing higher and make new all-time highs in price, and eventually charter towards six-digit territory at 100k, and with our most euphoric estimate being $200,000 in this cycle.
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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.
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BITCOIN NOW ON TRACK TO HIT $115K IN A FEW WEEKS SAYS PANTERA CAPITAL!! BTC PRICE PREDICTION 2021!!
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Blockchain investment firm Pantera Capital says Bitcoin looks like it will break the $100,000 level sooner than they originally forecasted.
In a new letter to investors, CEO and co-chief investment officer Dan Morehead notes that when BTC plummeted in March of 2020, he assured investors that it would set a new record within 12 months as institutional investors started making allocations.
“It took a few months to stabilize. A few months for the rally to build steam. Now it’s full on. My instinct from trading many cycles over 35 years is that crypto prices are going to melt-up. We’ll see much higher prices before this cycle is over.”
Morehead says Bitcoin is now rallying ahead of Pantera’s original projection. The CEO of the blockchain investment company highlights that as of March 15th, 2021, BTC is already three weeks ahead of schedule based on an analysis of the BTC stock to flow ratio (S2F) after the third halving.
Bitcoin broke the $60,000 mark on March 13th, exceeding Pantera’s original prediction of $52,943 for March 15th, 2021. Morehead concedes that BTC is outpacing their forecast and is now on track to reach $115,000 in a few weeks.
“Bitcoin is now ahead of our April 2020 forecast schedule — to hit $115,000 this summer.”
According to the firm, exposure to Bitcoin and the digital asset space has allowed their performance to skyrocket. Morehead also mentions the outstanding performance of the decentralized finance (DeFi) sector.
“Since publishing our March 2020 investor letter, which outlined our core thesis that unlimited money printing will push up the price of things whose quantity cannot be eased, Pantera Funds are up immensely.
In addition, the power of DeFi is emerging in the returns of our hedge funds. DeFi assets are out-performing even the remarkable performance of bitcoin.
We believe we are at the beginning of a multi-decade transformation.”
In other trending Bitcoin News today:
Rich Dad Poor Dad Author Says He’s Buying Bitcoin and Ethereum, Economy Is Screwed
Rich Dad Poor Dad author Robert Kiyosaki says he is racing to buy Bitcoin, Ethereum, and precious metals as the economy weakens.
In a new Rich Dad Radio Show podcast episode, the best-selling author and entrepreneur says that while he does not wish to argue over which store of value asset is superior, he is currently scrambling to own as much BTC, ETH and gold as he can.
“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’ Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”
Last year, Kiyosaki predicted Bitcoin would break the $50,000 level in 2021. He said that this bet wasn’t necessarily based on the strength of Bitcoin, but in the weakness of the US economy and government.
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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.
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Anyone who says “money doesn’t make you happy” is sick puppy who has never been broke. Money is a drug. It makes people happy. Problem is when drug wears off people get unhappy. Buy gold silver Bitcoin real money and stay happy.
— therealkiyosaki (@theRealKiyosaki) March 21, 2021
Saw some people freaking out about this drop of #Bitcoin and #altcoins.
Yes, altcoins drop further than $BTC due to the correlations.
And dips are interesting to accumulate.Corrections are healthy and organic.Stop zooming in on the charts and relax.
It’s still bull.
— Michaël van de Poppe (@CryptoMichNL) March 21, 2021
Pantera Capital Says Its Big Bitcoin Price Prediction Is Ahead of Schedule
https://cointelegraph.com/news/bitcoin-price-slides-5-after-failing-to-break-60k-here-s-why
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Bitcoin Price About to Tap Explosive Rally Trendline | BTC is Money Printing Protection
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Bitcoin Price Could Spark a Massive Market-Wide Rally If It Bounces at This Key Level
Crypto Bullet – another popular cryptocurrency analyst on Twitter – explained in a tweet that the BTC price is currently approaching a key macro trendline that has historically sparked explosive upwards movements.
“BTC 1M log scale update. Let’s once again take a look at our beloved log scale chart. As long we are closing the monthly above the trend line this is just another great buying opportunity. Zoom out and look at the big picture,” he explained.
If Bitcoin posts a highly bullish response to this level as it has done in the past, it is highly probable that the aggregated crypto market will also incur some intense upwards momentum in the weeks ahead.
Bitcoin Is Money Printing Protection as US Bond Yields Hit Lowest Ever
Bitcoin (BTC) is not a hedge against “every” global meltdown but will ultimately protect its users from central banks, governments and fiat money printing.
That was the consensus building among cryptocurrency supporters on March 10, as traders awaited the next stage of worldwide panic — this had given much of the economy its worst day since the 2008 financial crisis.
On Monday, currency markets and stocks led the losses, which were later joined by markets such as United States government bond yields. In a move unprecedented in history, the entire U.S. bond yield curve dropped below 1% — signaling intense concern from traders over a global recession, an oil price war and, of course, coronavirus.
At the same time, Bitcoin shed around 15% overnight, volatility which at press time had nonetheless subsided. Noting historical behavior, Hunter Horsely, CEO of BitWise, said that BTC was performing much better than before versus the S&P 500 in particular.
“S&P is -7.6% today. Based on historical volatility, a -7.6% move in S&P is == to -41% in BTC,” he wrote on Twitter. “Yet in the last 24 hrs BTC is only -5%. And only -0.5% since midnight today. That’s uncorrelated.”
AngelList CEO Naval Ravikant meanwhile suggested that investors zoom out from recent price adjustments. “
At the moment, Bitcoin is not a general hedge against every black swan and still behaves like a ‘risk on” trade,’ he responded to criticism of the cryptocurrency’s performance.
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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:
$BTCNice to see short term relief the past few hoursPrice couldn’t break above the daily open, and want to see it break this area before I feel good about any potential short term rally
I’ll take some profits at the resistance block above between $8030 and $8100 pic.twitter.com/UR6EXnR5Lt
— Josh Rager 📈 (@Josh_Rager) March 10, 2020
COVID-19 could lead to more people adopting crypto assets/#Bitcoin to reduce possible exposure to the virus
Crypto investors already knew fiat money was dirtyhttps://t.co/niME67UgJm
— Josh Rager 📈 (@Josh_Rager) March 9, 2020
At the moment, Bitcoin is not a general hedge against every black swan and still behaves like a “risk on” trade.
But long term, Bitcoin is a hedge against central banks printing money, which is inevitable as a reaction to the virus.
— Naval (@naval) March 10, 2020
S&P is -7.6% today.Based on historical volatility, a -7.6% move in S&P is == to -41% in BTC.Yet in the last 24 hrs BTC is only -5%.And only -0.5% since midnight today.That’s uncorrelated.
Treasuries are up (GOVT +1%)! That’s a negative correl, which is a different thing. pic.twitter.com/F0oVlGp8m0
— Hunter Horsley (@HHorsley) March 9, 2020
$BTC 1M log scale update 📉Let’s once again take a look at our beloved log scale chart.As long we are closing the monthly above the trend line this is just another great buying opportunity.
Zoom out and look at the big picture!#bitcoin #trading pic.twitter.com/Rx7v6X7ZzV
— crypto bullet (@SilverBulletBTC) March 9, 2020
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