Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Bitcoin (BTC) has recently exhibited indicators suggesting a possible decline in value, prompting analysts to urge caution as they anticipate the cryptocurrency potentially falling to the $59,000 level. This cautionary advice emerges amidst ongoing fluctuations in the crypto market, where investors vigilantly track Bitcoin’s trajectory. At the time of writing, Bitcoin’s current price stands at […]
Bitcoin has been on an absolute tear, surpassing $52,000 for the first time since December 2021. The leading digital asset has already climbed over 23% in 2024, and a major driver of this meteoric rise has been the influx of institutional money entering the space through spot Bitcoin ETFs. Related Reading: Bitcoin Price Alert: X Accounts Analysis Suggests Sub-$10K Drop Heres The Reasoning Bitcoins mainstream credibility among traditional investors has been growing since the beginning of February, with ETFs registering between $400 million and $650 million in daily inflows in the past week. At the same time, BTC call options have seen a massive rise. This bullish sentiment has prompted investors to begin anticipating the moment when BTC would achieve a new all-time high. According to analysts at QCP Capital, a crypto asset trading firm, Bitcoin is set to reach a new all-time high before the end of March 2024. Top Firm Predicts Bitcoin Can Reach New All-Time High Before April Bitcoin’s current all-time high of $69,044 has looked like an insurmountable mountain for the past two years, especially during the prolonged bear market in 2022, which saw BTC trading below $17,000. However, things have changed since that time, and current metrics point to the price of Bitcoin blasting past this price point in the coming months. This change in sentiment can mainly be attributed to the attention around spot Bitcoin ETFs. Although Bitcoin seemed to struggle behind a sell-the-news event for weeks after these ETFs hit the market, the situation has since turned positive. According to data from BitMEX Research, Bitcoin ETFs have witnessed massive inflows led by BlackRock’s ETFs in the past week. At the same time, outflows from Grayscale’s GBTC have slowed down. Consequently, the ETFs have received a steady $400 million to $650 million in daily inflows, which works out to 8,000 to 12,000 BTC bought daily. Notably, trading hit historic highs on February 14th, with the top nine ETFs hitting $1.5 billion in trading volume. What’s Driving The BTC Price Rally? QCP Capital credits this increasing institutional investment in Bitcoin as a critical driver of future growth. Analysts expect this inflow to continue as BTC becomes increasingly popular among traditional investors and global liquidity rotates into the spot ETFs, allowing it to break past its all-time high before April. Related Reading: Bitcoin Price Rally To $75,000 Imminent Due To Massive Cup And Handle Pattern The analysts also looked at the massive purchases of BTC call options, noting how $10 million was spent in the past week on premiums for $60,000 to $80,000 strikes expiring from April to December. This price point is exciting, as it indicates many investors are already looking forward to Bitcoin breaking past $69,000 in the coming months. Predictions can be hit or miss, but Bitcoin seems poised to continue its meteoric rise in value. It’s also important to note that the next Bitcoin halving, slated for April 2024, is steadily approaching. Cover image from Dall-E, Chart from Tradingview
According to a Reuters report, Founders Fund, the venture capital (VC) firm founded by billionaire Peter Thiel, is once again betting big on the flagship cryptocurrency, Bitcoin. The VC firm is reported to have made significant profits on their last Bitcoin investment and would be hoping that this next market cycle also brings immense rewards. Related Reading: Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction Founders Fund Already Made A $200 Million Investment In Bitcoin And Ether From late summer to early fall last year, Peter Thiels Founders Fund reportedly invested $200 million in the two largest crypto tokens by market cap, Bitcoin and Ethereum. If so, the VC firm is likely already sitting on unrealized profits, considering these two cryptocurrencies were trading lower during that period. Notably, the BTC price is known to have traded below $30,000 towards the end of summer last year and only rose above that level sometime in October. Meanwhile, although the average prices of Founders Funds Bitcoin purchases could not be ascertained, BTC has been trading at its highest level since 2021. Interestingly, Founders Fund is said to have made about $1.8 billion in returns on their previous investment in Bitcoin. The Financial Times reported how the VC firm began investing in the crypto token as far back as 2014 and went to liquidate most of its BTC holdings in March 2022, just before the crypto winter started in full force. Peter Thiels Optimism On BTC Peter Thiel, the co-founder of PayPal and one of the earliest investors in Facebook, is known to be a long-time Bitcoin advocate. He once explained how the flagship crypto token could provide a safe haven for investors and described it as a hedge against the world falling apart. Thiel also belonged to the school that believed Bitcoin could eventually replace Gold. When Bitcoin hit its all-time high at the height of the 2021 bull run, Thiel also admitted that he was underinvested in the crypto token. He said he should have bought more BTC rather than hesitating because he thought everybody already knew the secret. Related Reading: Shiba Inu Records 2,500% Spike In Whale Activity, SHIB Price About To Skyrocket? The billionaire has also described himself at some point as a pro-crypto, pro-Bitcoin maximalist. His affinity for Bitcoin and cryptocurrencies generally also stems from his political philosophy of libertarianism, as he sees these virtual currencies as a force for decentralization. Cover image from Dall-E, chart from Tradingview
Bitcoin has been unable to retain its bullish momentum and seems likely to extend its current downside trend. However, the long run remains positive, and the next months could see BTC reach its all-time high, but in a different fashion than in previous rallies, according to a large investor. Related Reading: Bitcoin Set For Weekend Rally Amid New Banking Crisis: Arthur Hayes As of this writing, Bitcoin trades at $42,000 with a 1% loss in the last 24 hours. Over the previous week, the cryptocurrency still records a 5% profit. Bitcoin Whales Makes Bullish Forecast According to a pseudonym Bitcoin Whale that goes by Joe007 on social media X, the cryptocurrency is poised for a bull run. The institutions trading the US spot Bitcoin Exchange Traded Fund (ETF) will drive this bullish momentum. In that sense, these institutions are likely to suck the volatility out of Bitcoin by pushing to trade similar to traditional assets. Thus, Joe007 claims that this cycles rally will lack the excitement of 2017 and 2021 when BTC hit $20,000 and $69,000, respectively, creating euphoria amongst investors. The Bitcoin whale stated: I think we’re about to witness the most boring rally in Bitcoin history. No retail-driven parabolic swings that excite degens/noobs and produce headlines. Rather a slow relentless drive higher by professional accumulators taking out layer after layer of paper handed holders. The whale dismissed the possibility when asked if traditional institutions could fail in taming BTC due to the systemic crises in the space. In addition, Joe007 dismissed the possibility of the cryptocurrency not running higher in the long run. The only thing that could stand between Bitcoin and a rally is a low probability scenario where the traditional finance sector experiences a similar crash to 2008. The BTC whale added: () unless there is a sudden complete tradfi meltdown (2008-style or worse). Then I can see Bitcoin being dragged into a general panic-crash, at least initially. Certainly possible but hard to assign realistic probability. BTC Price In The Short Term On low timeframes, an analyst pointed at the Daily On Balance Volume (OBV), which suggests further downside for BTC. The chart below shows that this metric broke out of a trending channel during Bitcoins recent crash. Related Reading: Bitcoin Halving Prep: Analyst Outlines Key Points Ahead Of Event The OBV was rejected out of a critical level and seems poised to trend to the upside along with the price of BTC. The analyst stated: Daily OBV still looks like it wants more downside. Looks like this might have been a lower high that we just put in. Cover image from Unsplash, chart from Tradingview
Will Bitcoin price breakthrough and embark on a bull run or will it retreat, succumbing to the pressure at this resistance level?
Bernsteins report is the latest in a series of bullish forecasts from institutional market researchers ahead of the November US presential election.
Never has cryptocurrency been so connected with the US elections, the outcome of which could trigger a full-on bull market. What are the prospects if Trump wins?
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
