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Will Bitcoin Reach $100,000 by the end of this year?
Joe G & Money Talks
February 11, 2024 • Estimated Reading Time: 8 minutes
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₿itcoin reached $48,270. +1.87%
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What we will talk about today...
🤑🚀 Will Bitcoin Reach $100,000 by the end of this year?
🐋⚡ Bitcoin Whales Added 140,000 BTC in A Big Move.
💢🚨 SEC Chairman Talks About Cybersecurity with Confidence.
Bitcoin’s Journey to $100,000: Solving the Mystery
Bitcoin’s journey is a mystery, with high hopes and hard problems. The story started with spot Bitcoin ETFs, which were supposed to make Bitcoin go up a lot. But, the expected rise did not happen, making people rethink their Bitcoin plans.
🚀 Part I: The ETF Problem
In 2024, Bitcoin was ready to go to $100,000. It had gone up by more than 150%, Wall Street liked it, and new spot Bitcoin ETFs were coming. These were good signs. But, the reality was different. Bitcoin, instead of going up, went down by almost 10% since the ETFs started on January 11. The Bitcoin ETF idea, once a good hope, now changed.
🔄 Part II: Ark Invest’s New Idea
The Bitcoin ETF story changed. Ark Invest, in its “Big Ideas 2024” report, showed a new idea. The best amount of Bitcoin in investment plans, once a small 6.2%, now became a big 19.4%. This big change made more possibilities. Ark Invest showed a clear picture – a world where Bitcoin’s value could go up to $2.3 million, a place where big investors and countries loved Bitcoin.
📈 To the Sky: The Bitcoin Halving
But, there was another story – the Bitcoin halving. This was planned for April, and it was very important. It had made Bitcoin go up a lot in the past. The halving, making less rewards for miners, made Bitcoin more rare and less inflationary, making it more wanted. Past results showed high goals, with Bitcoin reaching new highs.
💡 The Unknown Land: What Will Happen?
As we look more into this story, there was a warning. Bitcoin’s more connection to normal finance might change it. The once-famous changes, a mark of Bitcoin, might go away as big investors bought more and held more. The very thing that made Bitcoin go up a lot could make it go up less. The price changes, once crazy and random, might become calm.
🔮 The Future of Bitcoin: A Mix of Hope and Reality
With changes and new goals, the future of Bitcoin was still a mystery. Would it go past $100,000, breaking the new rules? The stage was ready for a different show, with possible less changes, but still a strong belief in Bitcoin’s long-term rise.
🤔 To Invest or Not? The Problem Remains
Before you join the story, a moment of thinking is needed. The Motley Fool Stock Advisor shows a list of 10 stocks that could do better than Bitcoin. As the story goes on, the choice to invest $1,000 in Bitcoin becomes a thinking choice.
In this story of money and digital things, the people wait for the next part, wondering if Bitcoin will be the hero, reaching the hard $100,000 top, or if the journey will go in different ways, showing the always-changing nature of the crypto story. 🌌🚀
In the big world of crypto, a huge story is happening—a story of Bitcoin whales, those powerful creatures with a lot of money, buying more in a big move. Imagine this: In the last three weeks, these crypto giants have bought a lot of Bitcoin, adding 140,000 BTC to their piles—a huge $6.16 billion move.
🐋 Whale Sound: A Sign of Trust
Why did they buy so much, you ask? The answer is in the historic approval of Bitcoin spot ETFs in the United States. The first waves started on January 11, ending a long fight. The OK for Bitcoin ETFs is not just a rule change; it’s a big yes to Bitcoin as a good investment. The whales, feeling this big change, started a great show of buying.
📈 Whales’ Trust Amidst Changes
Even with the recent market ups and downs, the increase in whale Bitcoin shows strong trust in Bitcoin’s long-term future. These money monsters are not just watchers; they are planners. Taking chances from market drops, they buy more BTC at lower prices, ready for a future rise. As Bitcoin goes above $48,000, its highest point in a month, the whales move through the changes with strength.
💼 ETF Money and Market Moves
The approval of Bitcoin ETFs made more things happen. U.S. funds hold the digital money, seeing a steady flow of cash from interested investors. The willingness to take risks in financial markets is growing. Money flows, including the balance of Grayscale outflows, show a clear picture. According to BitMEX Research, spot Bitcoin ETFs got a strong inflow of $541.5 million on a Friday rush, with a net total of 11,388 BTC.
⚡ Bitcoin’s Rise and Market Hints
As another trading day ends, BTC is high, up by 2.10% to $48,104 in the last 24 hours. A weekly increase of 13% shows the crypto’s success. The famous John Bollinger, the master of Bollinger Bands, makes the scene for Bitcoin’s future, suggesting a rise until a difference is seen—a sound of market moves.
In this exciting story, Bitcoin whales, led by trust and smart moves, change the story. The crypto world is big, but these whales move through it with a vision—a vision of a digital place where Bitcoin is the best. The story goes on, and as the whales keep buying more, the crypto waters move, showing the hope of a great future. 🌊🚀
In a story of digital surprises, the U.S. Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has come to the front, answering lawmakers’ worries with a strong promise of the SEC’s care for cybersecurity.
🌐 The Cyber Journey Starts
The journey started when the SEC’s social media place, the @SECGov account on platform X, faced an unwanted break-in. A fake announcement, saying the OK of spot bitcoin ETFs, made waves in the digital world. Lawmakers, wearing the hat of careful protectors, asked Gensler about this cybersecurity story.
🛡️ Gensler’s Promise: Cybersecurity is Very Important
Answering Representatives Patrick McHenry, Bill Huizenga, French Hill, and Ann Wagner, Gensler left no doubt. “The SEC takes its cybersecurity duties seriously,” he said. The promise sounds in the digital halls, showing a strong commitment to keeping the SEC safe.
🚨 Showing the Investigation
As the digital mess clears, Gensler shows the SEC’s fast response. After the SIM swap attack that got into the @SECGov account on Jan. 9, the SEC’s wheels are moving. Gensler shows the joined efforts with law and control groups, including the FBI, DHS, CFTC, and DOJ. Together, they start an investigative journey to show the details of the break-in.
🕵️ Finding the Breaker
The SEC, helped by its Division of Enforcement and Office of Inspector General, looks more into the incident. Gensler’s words show a search to know the breaker’s smart tricks — from the changing of carriers to the strange knowledge of related phone numbers. But, in the mess, a good thing appears: no sign of getting into SEC systems, data, devices, or other social media places.
🔒 A Promise of Care
Ending the digital part, Gensler’s promise sounds. “I promise you that the SEC takes its cybersecurity duties seriously.” The story of the SEC’s cyber strength goes on, showing strong commitment and a will to move through the changing digital world.
In this digital time, where every key press matters, Gensler and the SEC stand as protectors, their care for cybersecurity shown as a sign of hope. The cyber journey goes on, and the SEC makes its way with will, ready to face the problems that hide in the world of pixels and codes. 💻🔐
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