Bitcoin Flirts With $70,000 After $2 4 Billion Inflow Into Etfs

Doing so, however, would be ignoring a slice of the cryptoasset sector that continues to not only grow in market capitalization, but also would ignore a potential on-ramp for millions of new crypto users. Specifically, the share of total market capitalization captured by bitcoin, used to determine the dominance of bitcoin has risen to approximately 60% as of October https://momentumcapital.reviews/ 2024 which is the highest level since April of 2022. Following the declines in crypto prices overall in 2022 – and bottoming out with the collapse of FTX in November 2022, the market share of bitcoin has continued to steadily increase since those events. In addition to the market capitalization aspect of market leadership it is worth pointing out that the institutional inflows and interest coming into crypto have continued to be centered around bitcoin. For example, while both bitcoin and ether have spot ETFs products at this point, the bitcoin ETFs have attracted $18.9 billion while ether ETFs have attracted a substantially lower amount.

Bitcoin Flirts With $70,000 After $2.4 Billion Inflow Into ETFs

Tesla will post its 2024 third-quarter results after the market closes next Wednesday, October 23. The bitcoin price has rocketed back to its all-time highs of around $70,000 per bitcoin this year, … Musk later said he "wasn’t actively involved in crypto," dodging a question about whether blockchains, the technology that underpins bitcoin and other cryptocurrencies, could be used in future elections to reduce or eliminate voter fraud. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Ethereum price is nearing its descending trendline on Monday (drawn by joining multiple high levels from the end of May) after finding support around its 50-day Exponential Moving Average (EMA) of $2,564 on October 15. A https://www.bankrate.com/investing/best-investments/ widely followed crypto strategist believes one under-the-radar Ethereum (ETH) challenger will hit his massive price target this cycle.

Bitcoin Heading to Six Figures As BTC ETF Net Inflows Accelerate to $20,000,000,000: Bitwise CIO Matt Hougan

Demeester was among the first to take the paper into the Bitcoin conversation on the platform. Musk last week sparked bitcoin price panic last week when the electric car company suddenly moved its remaining bitcoin. Tesla CEO Elon Musk has said he considers cryptocurrency to be a "valuable" https://momentumcapital.reviews/ and "interesting" … Mr Lewis instead advises that people looking to invest in cryptocurrencies need to be prepared for the risks. The RSI on the daily chart trades at 48, nearing its neutral level of 50, suggesting indecisiveness among traders. For the bullish momentum to gain traction, the RSI must trade above its neutral level.

Trader Unveils Massive Price Target for Ethereum Rival, Says Memecoins Attract Retail Investors

Cryptocurrencies are a form of digital money that use encryption to secure transactions and control the creation of new units. As Bitcoins rise in value, so do the prospective profits of those investing in them. However, many have warned that this is not investing, but gambling, and that if the "bubble bursts", it could see many lose their wealth. With its popularity growing, https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency Martin Lewis warned that you shouldn’t get into it if you haven’t done your research.

What is Bitcoin Dominance?

• Specifically, the share of total market capitalization captured by bitcoin, used to determine the dominance of bitcoin has risen to approximately 60% as of October 2024 which is the highest level since April of 2022.
• In addition, investors should take into account the implications of international tax laws if the ETF is traded abroad, as crypto regulations and tax treatments vary by country.
• "Crypto by its very nature helps with individual freedom," Musk said, adding he wasn’t endorsing XRP or any other specific cryptocurrency.
• Musk later said he "wasn’t actively involved in crypto," dodging a question about whether blockchains, the technology that underpins bitcoin and other cryptocurrencies, could be used in future elections to reduce or eliminate voter fraud.

We want our readers to share their views and exchange ideas and facts in a safe space. The ECB article is signaling understandable concerns, but seeing bitcoin early adopters as a threat to democracy or as an unfair new elite could be problematic in the long term. The authors investigate the long-term economic and social consequences of a hypothetical scenario where Bitcoin’s price https://www.cnbc.com/2024/09/18/will-the-us-elections-impact-crypto-markets-insiders-weigh-in.html rises continuously. They argue that such a scenario, despite appearing benign or promising to investors, poses significant risks to wealth distribution, economic stability, and social cohesion. "If the price of Bitcoin rises for good, the existence of Bitcoin impoverishes both non-holders and latecomers," the paper states.