Bitcoin Magazine

2024-03-21 21:28:58 Bernstein raises year-end bitcoin price target to $90,000, expects ‘mild’ halving impact on miners

Analysts at research and brokerage firm Bernstein have raised their year-end price target for bitcoin to $90,000 from $80,000 amid improved market dynamics. Ultimately, the analysts expect bitcoin to target $150,000 as the 2024-2025 cycle high, with Bitcoin’s upcoming halving event having less impact on miners than in previous years.

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2024-03-21 08:39:58 First back-to-back net outflows for Bitcoin ETFs since late January due to $443 million GBTC outflow

Bitcoin ETFs saw a second day of outflows on March 19, the first instances of back-to-back outflows since Jan 25. Net outflows totaled $362 million, with Grayscale accounting for all outflows at $443 million. Most funds saw no net movement, with BlackRock, Fidelity, and Bitwise seeing inflows, according to Bitmex Research. BlackRock recorded just $75 million, Fidelity $39 million, and Bitwise $2.5 million in inflows on a rare poor performance day for the record-breaking Newborn Nine.

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2024-03-20 18:50:00 Coinbase CEO says they're the custodian for ~90% of US spot Bitcoin ETF assets

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2024-03-20 11:14:59 Bitcoin Halving Is a ‘Show Me the Money’ Moment for Miners

The notorious phrase from 1996’s “Jerry Maguire” movie is on the lips of investors watching the state of the Bitcoin mining market as it faces its next crunch point: April's Bitcoin Halving. Mining, an integral part of securing the bitcoin network, requires a lot of capital to operate profitably. And now, after a brutal crypto winter and with the upcoming halving next month, many investors have turned sour on what once was an outrageously profitable business, drying up capital for the miners.

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2024-03-19 19:49:59 Bitwise CIO says 'we’re probably a few weeks away' from first wirehouse to support spot bitcoin ETFs

While no major wirehouse in the US has yet supported the new set of bitcoin ETFs, this situation could change soon. "We're probably a few weeks away from the first of those major warehouses approving it — maybe a week away," Bitwise CIO Matt Hougan said on a panel about bitcoin ETFs at the Digital Asset Conference in London. "And within a few months they'll all be able to.".

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2024-03-19 09:24:59 "With every halving, the American Dream is getting cheaper in terms of Bitcoin. Bitcoin is giving a lot of young people hope."

- Natalie Brunell

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2024-03-18 19:32:00 BTC and ETH Derivative Tokens Dominate by Securing Several Top Positions in the Crypto Economy

Throughout this month, bitcoin and ethereum have risen to their highest valuations in years. These two pivotal crypto assets have substantially influenced the cryptocurrency market, with bitcoin currently holding a 51.9% market dominance and ethereum at 17% as of mid-March 2024. Furthermore, in recent years, derivative tokens of bitcoin and ether have garnered significant popularity. Among these, STETH and WBTC stand out as preeminent, ranking within the top 20 of the crypto economy’s market capitalizations.

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2024-03-17 11:02:42 “If you are going to invest in Bitcoin, a short time horizon is four years, a mid-time horizon is ten years, & the right time horizon is forever.”

- Michael Saylor in 2022

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2024-03-16 21:10:27 El Salvador’s Bitcoin HODL Strategy Pays Off as Nation Sees 55% Profit

El Salvador, the pioneering country that approved Bitcoin as legal tender, has consistently adhered to its HODL strategy, even amidst the market crash from two years ago and the massive rise toward new ATH this week. According to its Bitcoin tracker, El Salvador has 2,864 BTC, whose current value is $188 million, acquired across 12 transactions at an average price of $42,630 each. Based on today’s market, Bitcoin has seen a 176% increase over the past year, pushing El Salvador’s unrealized gains to $66 million.

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2024-03-16 09:55:00 Financial advisory network Cetera approves the use of 4 spot bitcoin ETFs

Wealth management and financial advisory firm Cetera approved the usage of four U.S. spot bitcoin exchange-traded funds for its network of 9,000 affiliated professionals. BlackRock’s IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC and Invesco’s BTCO were chosen due to the providers’ track record in successfully launching new product strategies, with the required resources, tools and knowledge, according to a statement from the company on Thursday.

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