Aurelia Butler

If this price projection comes to pass, Bitcoin will be between $414,000 and $593,000. Notably, PlanB’s price prediction relies on historical patterns rather than random figures plucked from the air.An analysis of Bitcoin’s 200-week Moving Average shows a consistent price leap pattern of a 4x jump followed by a 7x or 10x leap. Interestingly, the chart reveals that the price has climbed approximately four times from the bottom between 2022 and now.Therefore, based on historical trends, the next leap might push Bitcoin to $414,000, or as high as $593,000 by August 2025.A common denominator is investors’ bullish sentiment toward the world’s largest crypto asset. PlanB’s prediction aligns with previous positive sentiments by other notable analysts, who anticipate a massive run for Bitcoin once it overcomes the current resistance of $70,000.At the time of writing, data shows Bitcoin down by 1.17% and trading at $59,585.60. With sustained interest in spot Bitcoin ETF products, the demand channel for the coin is high. Many believe its growth is only a matter of time now.This article was originally published on U.Today More

(Updated – August 21, 2024 4:14 PM EDT)
Richard Teng, the new CEO of Binance sees no need for an IPO – Coindesk”We are in very strong financial shape, so there’s really no need for us to consider any fundraising or an IPO at this time,” Teng said. “Since the fifth month of Binance’s operation, it has been profitable, and it has been very prudent in terms of spending. So [an IPO] is not a subject that has come up.” More

Expansion Enables Greater Access to Liquidity and New Institutional Use CasesAave, the leading DeFi protocol governed by the Aave DAO, today announced the launch of Aave V3 on Era Mainnet powered by ZKsync. With efficient and secure transactions provided by ZKsync technology, the launch of Aave V3 on Era is poised to bring liquidity and yield generation capabilities to the Elastic (NYSE:ESTC) Chain ecosystem. Users of Aave will gain access to advanced zero-knowledge (ZK) technology that provides low-cost transactions while deriving security from Ethereum using cryptographic validity proofs. As part of the integration, Chainlink will provide secure and reliable price feeds.DeFi Gateway for Institutional FinanceThe Aave deployment will also set the stage for privacy-focused DeFi applications. These applications will leverage Aave’s competitive liquidity, flexibility and conservative risk management to meet the increasing demand for enhanced privacy in DeFi. Additionally, this deployment is expected to unlock new institutional use cases, ranging from private networks to networks tailored for specific asset classes, risk profiles, and user segments. This integration also unlocks new opportunities for the Aave-native overcollateralized stablecoin GHO and future products, such as fast, cost-efficient payments.After positive technical evaluation done by BGD Labs and positive risk analysis by Chaos Labs and asset/parameters recommendations by the risk service providers, BGD had deployed the integration and the Aave DAO has approved USDC, USDT, WETH and wstETH as the initial assets available on Era. The initial risk parameters for each asset can be found here.The Aave DAO is committed to redistributing any airdrops received from the ZKsync ecosystem via liquidity mining towards Aave users. The distribution will include GHO secondary liquidity incentives, safety module deployments, and merit programs. Aave Chan Initiative (ACI), one of Aave DAO’s service providers, will coordinate any liquidity mining campaign on the ZKsync Aave V3 deployment, on behalf of the Aave DAO.The deployment governance proposals can be found here and here.ContactM Group Strategic [email protected] article was originally published on Chainwire More

Bitcoin Infinity Day being celebrated today holds special significance for Bitcoin enthusiasts and serves as a reminder of the finite supply of Bitcoin.The date Aug. 21 can be written as 8/21. The number “8” represents the infinity symbol, “, ” while “21” refers to the maximum supply of Bitcoin that will ever exist, which is set at 21 million.Saylor’s statement is a reference to one of the most fundamental aspects of Bitcoin: its fixed supply. Unlike typical fiat currencies, Bitcoin’s total supply is limited to 21 million coins.By stating, “Imagine everything, divided by 21 million,” Saylor highlights Bitcoin’s finite supply. This scarcity remains a key component of Bitcoin’s value proposition.The funding rate for Bitcoin perpetual futures, which estimates how bullish or bearish speculators are might signal a bullish reversal for the BTC price. Aug. 20 had the lowest seven-day average annualized funding rate since March 2023, according to K33.The cryptocurrency market has been in a cautious mood lately, with Bitcoin continuing to lose ground in August following its inability to stay above the $60,000 mark.Concerns that the U.S. government might be selling seized tokens have recently impacted Bitcoin’s price. Traders are also anticipating crucial comments by Federal Reserve Chair Jerome Powell, whose indications about likely interest-rate decreases might cause volatility.At the time of writing, BTC was down 2.03% in the last 24 hours to 59,492, about $14,250 below its March all-time high.This article was originally published on U.Today More

Thus, for the first cryptocurrency, Brandt observes a “megaphone” or “expanding triangle” pattern on the weekly and daily charts. These formations usually indicate expansive price swings in both directions, which often precede a decisive breakout or breakdown out of the range. However, he notes that a clear trend has yet to emerge for Bitcoin, and the lookout for further developments is needed before making any substantial investment decisions.It’s interesting to note that when the veteran trader was then asked about what would signal a resumption of Bitcoin’s long-term uptrend – a breakout above the diagonal resistance line or breaking the horizontal line at the $74,000 level – he dismissed the relevance of diagonal resistance, saying he doesn’t factor it into his analysis.Suming up, Peter Brandt thinks that Bitcoin will keep on moving in a pretty wide range, which is likely to expand further until it breaks out of one of those boundaries. We’re probably going to see more volatility, too, along with a lot of dramatic price pertrubations. It’s worth mentioning that the veteran trader’s previous outlook on altcoin included a short set-up with targets of $1,641 per ETH.This article was originally published on U.Today More