#Bitcoin ETF India

[9point-capital]

Discover Bitcoin's potential as an asset class with 9Point Capital. Transform your portfolio and embrace the evolution of wealth with expert insights.

[cryptokid3]

Why is the cryptocurrency market going down in 2024? – Forbes Advisor INDIA

https://hodl.ist/why-is-the-cryptocurrency-market-going-down-in-2024-forbes-advisor-india/

The cryptocurrency market has seen a slowdown, with the total market cap falling from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. The market volume in the last 24 hours has dropped by 13.13%. Bitcoin, the largest cryptocurrency, is currently trading at $55,013, down 17.37% in the last seven days and up 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down 26.53% in the last seven days.The cryptocurrency market plunged yesterday, losing nearly $367 billion in 24 hours. Major cryptocurrencies like Bitcoin and Ethereum saw substantial declines as investors sold risky assets.

How is the cryptocurrency market performing? The cryptocurrency market is going through a major pullback phase, with Ethereum and Bitcoin recording sharp declines. Key market drivers include political uncertainty, geopolitical tensions, economic data, and ETF performance.

CoinSwitch Marketplace Office said that after experiencing one of the biggest cryptocurrency crashes of all time – BTC lost over $250 billion in market cap in a single day – the world’s largest cryptocurrency found support just below $50,000 and rebounded over 14% to trade around the $56,000 mark. The crash was mainly triggered by the escalation of the war between Israel and Iran in the Middle East and the Japanese stock market recording the biggest single-day crash since 1987. He added, however, that the Nikkei index jumped more than 10% today – after losing 12% yesterday – to recoup most of its losses, which could trigger a fresh rally in global stock markets. Given that this crash can be attributed to the Bank of Japan’s rate hike, it remains to be seen whether this surge will continue.

Mr. Sathvik Vishwanath, Co-Founder & CEO of Unocoinsays the cryptocurrency market is facing its biggest decline since the FTX exchange crash in November 2022, which is in line with the overall decline in the global market. One of the key factors behind this decline is the easing of the yen-dollar swap. Traders typically borrow in low-interest currencies like the yen and invest in higher-yielding assets.He also added that the recent interest rate hike by the Bank of Japan made these trades less profitable, leading traders to close their positions. This caused a massive sell-off in both the stock and crypto markets. Over $1 billion was liquidated in the crypto sphere, mostly from long positions, further accelerating the market’s downward trajectory.

Mr. Himanshu Maradiya, Founder & Chairman, CIFDAQ Blockchain Ecosystem Ind Ltdsaid that “the recent sharp decline in the cryptocurrency market, with major assets like Bitcoin and Ethereum down more than 10%, can be largely attributed to the Bank of Japan’s decision to raise interest rates. This decision had a significant impact on carry trades, a strategy where traders borrow in low interest rate environments, such as in Japan, and invest in higher-yielding assets, including cryptocurrencies.

The Bank of Japan’s first interest rate hikes in 17 years have caused the yen to rise, leading to an “unwinding of carry trades.” In addition, rising geopolitical tensions and growing concerns about a potential recession in the United States have further exacerbated the decline in cryptocurrency markets. The combination of these factors has created a challenging environment for cryptocurrencies, which are particularly sensitive to changes in investor sentiment and macroeconomic conditions.He added that the current correction phase, driven by the Bank of Japan’s monetary policy shift and the resulting appreciation of the yen, highlights the interconnected nature of global financial markets. Despite short-term volatility, the fundamental value propositions of cryptocurrencies remain strong. As the macroeconomic landscape stabilizes, we expect the cryptocurrency market to recover and grow steadily.

As of August 6, 2024, the Fear and Greed Index stands at 34, indicating a state of fear.Bitcoin, the largest cryptocurrency by market cap, has fallen by nearly 17.38% in the last seven days and is trading at $55,004 as of August 6, 2024. On the other hand, Ethereum has fallen by nearly 26.85% and is trading at $2,447.Bitcoin’s price has plummeted, dropping below $50,000 on Monday, while Ethereum has fallen by nearly a third to $2,340 over the past week. Altcoins haven’t escaped the rout: Cardano has plunged by about 27%, Solana by 36%, Dogecoin by 34%, XRP by 23%, Shiba Inu by 30%, and BNB by 25.7%.The cryptocurrency massacre appears to be part of a broader flight to safety. After last week’s worse-than-expected unemployment report, the economy has entered a technical recession, according to a measure called the “Sahm Rule.” It marks the start of a recession when the three-month average of the unemployment rate increases by at least half a percentage point from its lowest point last year.In response, the S&P 500 fell nearly 2%, the Nasdaq fell 2.5% and the Dow fell 1.5%. However, given the bloodbath that took place overseas on Monday, this could be just the beginning of a broader rout.

Is investing in cryptocurrencies safe? The cryptocurrency market has seen the good and the bad of the market, whether it is the post-Russia-Ukraine effects, the Terra-Luna crash, the collapse of FTX or the tightening of tax regulations, it has witnessed the most violent storms in recent years.The year 2023 has given a new beginning to the cryptocurrency world, showing positive signs of recovery. Cryptocurrency investors believe that in situations like this, investing in stable digital currencies like Bitcoin and Ethereum in SIP format is a safe choice. Cryptocurrency experts consider that in the overall portfolio, investors should simply consider investing only 5% exposure to cryptocurrencies. The most important thing is to invest only a tiny amount and not all your savings, as the market is very volatile and there are chances that you might lose all of it.

Steps to Invest in Indian Cryptocurrency Market

Step 1: Select the best cryptocurrency: Choose a cryptocurrency that you want to invest in. Like any other asset class, cryptocurrency has its own fundamentals and different blockchain networks supporting them, intrinsic value, and mining techniques. Make sure to do your research and analysis before investing as the cryptocurrency market is highly volatile. Choose an exchange that is registered with the FIU.

Step 2: Select a Cryptocurrency Exchange: After choosing a cryptocurrency, it is time for you to find a perfect cryptocurrency exchange for you. It is necessary to have a working account in a cryptocurrency exchange that will help you buy and sell cryptocurrencies. Check out our article on the best cryptocurrency exchanges in India.

Step 3: KYC: Once you have selected a cryptocurrency exchange platform, you need to register by providing personal information such as your name and address and complete all the KYC formalities. After creating your account, you are ready to invest in cryptocurrency.

Step 4: Choose your payment method: To buy cryptocurrency, you need to select a payment option that suits you. You can choose peer-to-peer payment method, bank transfer, online payment method, or a crypto wallet.

Step 5: Buy Cryptocurrency: After adding funds to your account, you can easily buy the cryptocurrency of your choice. Just tap on the “buy” tab and you can easily buy the cryptocurrency of your choice.

Step 6: Storage: After purchasing cryptocurrencies, remember to store your currencies safely as they are not regulated and you need to keep them in a safe place as there is always a risk of hacking or theft. You can check out the cryptocurrency storage options here.

Step 7: Selling cryptocurrencies: This is as important as buying them because it allows you to make money by investing. You can sell the cryptocurrency in the same way you bought it, just click on the “sell” tab in your wallet. You can sell your cryptocurrency investment completely or partially depending on your choice, but remember to account for your profits in due time.

Conclusion It is wise to observe the cryptocurrency market with caution in an uncertain environment and slow recovery of macroeconomic situations in the world. Do not make rash decisions as this is the right time to observe the market closely and analyze it.We may never know, but observation will eventually help investors make smart decisions and might have a preferred digital asset at a fair value, once the chaos situation has completely subsided.

www.cifdaq.com

[universaldogemusk]

Analyst Tells Forbes Bitcoin Could Hit $1,000,000 as Soon as Next Year

Bitcoin (BTC) has endured a tumultuous period over the past few weeks, with its value experiencing significant swings. After peaking at around $70,000 in July, the cryptocurrency plunged below $48,000 by August 5th. However, it has since demonstrated signs of resurgence, rebounding to approximately $62,500. Several analysts are making bold predictions about Bitcoin’s future trajectory amid these volatile shifts.

In a recent interview with Forbes, Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, presented an eye-catching forecast, suggesting that Bitcoin could potentially hit $1,000,000 by 2025. While this prediction might seem audacious, Maradiya believes several factors could drive Bitcoin towards this milestone.

Notably, the pundit pointed to the increasing adoption of Bitcoin, the approval of Bitcoin ETFs in various countries, and rising concerns over fiat currency devaluation as key drivers. The pundit also emphasized the recent halving event on April 20, 2024, which reduced the rate at which new Bitcoins are created, as another factor influencing his predictions. Historically, Bitcoin halvings have led to significant price increases due to reduced supply.

“Predicting a $1,000,000 Bitcoin might appear overly optimistic, but the increasing institutional interest and regulatory support for cryptocurrencies make this scenario plausible,” Maradiya stated.

Elsewhere, former BitMEX CEO Arthur Hayes recently suggested that Bitcoin might spike to $1,000,000 in the current market cycle. In an interview with DL News last week, Hayes attributed this potential surge to global financial shifts and high debt levels.

“The Bitcoin price in this cycle is going to go very, very high. Hundreds of thousands of dollars, maybe $1 million.” Said, Hayes. “We’re entering a period of significant change in the global monetary system.”

Elsewhere, Rajagopal Menon, Vice President of India’s largest crypto exchange, WazirX, commented on Bitcoin’s potential. Menon believes Bitcoin could initially target between $90,000 and $100,000 before the year ends.

https://cifdaq.com/

“The $100,000 mark represents a significant psychological barrier,” Menon said. “Bitcoin may experience substantial resistance around this level, which could affect its short-term performance.”

Veteran trader Peter Brandt has also echoed a bullish outlook, predicting that Bitcoin could reach $150,000 by the end of 2025. Like Maradiya, Brandt’s forecast is based on historical trends associated with Bitcoin’s halving cycles, often leading to bullish market phases. However, Brandt also cautioned that there is a 50% chance Bitcoin might drop below $40,000 before the effects of the latest halving fully materialize.

Bitcoin traded at $59,234 at press time, reflecting a 1.03% drop over the past 24 hours.

[casper0510]

After $100,000, Bitcoin May Hit $1 Million By 2033: How Can Indian Investors Ride The Wave?

Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the US. Bitcoin Crosses $100,000: Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the United States. The cryptocurrency‘s recent rally comes amid growing institutional confidence and a pro-crypto policy shift under the leadership of US President-Elect Donald Trump. His appointment of Paul Atkins, a crypto advocate, as the SEC Chair and Elon Musk’s leadership in the newly formed Department of Government Efficiency are clear signals of a favourable regulatory environment for digital assets. Over the past month alone, BTC has surged by 50 per cent, with its market cap crossing the $2 trillion threshold and delivering 144 per cent year-to-date (YTD) return. Riding this wave of optimism, other tokens have also gained significant traction — SOL and XRP have hit an all-time high. 

What’s Driving Bitcoin’s Meteoric Rise?

This rally isn’t just about political shifts. Bitcoin ETFs recorded a staggering $676 million inflow in a single day, highlighting robust institutional demand. Edul Patel, CEO of Mudrex, expects that Bitcoin is expected to hit $120,000 in coming weeks. 

Global investment firm Bernstein in its latest report said Bitcoin could be headed for the stratosphere. It predicts Bitcoin to touch $200,000 by 2025, $500,000 by 2029, and $1 million per token by 2033.

With the US embracing pro-crypto policies other countries are also moving favourably, China has now lifted restrictions on personal crypto ownership. Brazil, and Russia are considering Bitcoin for reserves, signalling its growing global economic role.

What Experts Suggest Indian Investors

For Indian investors, this rally presents a golden opportunity. Despite regulatory uncertainty in India, the global push toward cryptocurrency legitimisation could benefit local investors. With increasing acceptance, Bitcoin is cementing itself as a hedge against inflation and a mainstream asset class.

“For investors, the spotlight now shifts to long-term planning: keeping an eye on market cycles, diversifying portfolios, and staying updated on regulatory shifts. While this breakthrough fuels optimism, it’s important to tread carefully — volatility remains part of the game," Himanshu Maradiya, Chairman and Founder, CIFDAQ.  

Balaji Srihari, business head at CoinSwitch, said if the past is any indicator, the April 2024 halving could spark a rally of 300-400 per cent, aligning perfectly with this forecasted target.

“However, in this dynamic environment, investors must stay informed about market developments to make confident and well-informed decisions," Srihari added.

How to Invest in Bitcoin in India?

If you’re new to the crypto world or looking to expand your portfolio, here’s how you can get started:

Choose a Reliable Exchange

Platforms like WazirX, CoinDCX, and Binance offer secure and user-friendly interfaces for trading Bitcoin. Ensure the platform is compliant with Indian regulations and offers robust security features.

Understand the Risks

Bitcoin’s volatility is legendary. While its long-term trajectory seems promising, investors must be prepared for sharp price swings. Invest only what you can afford to lose.

Stay Informed

Keep an eye on global developments, particularly in the US, as policy changes can significantly impact crypto markets. Utilise tools like CoinMarketCap and Glassnode to monitor Bitcoin’s performance.  

Diversify Your Portfolio

While Bitcoin is the most popular cryptocurrency, consider diversifying into other digital assets like Ethereum, Solana, or Cardano. Diversification can help balance risk and reward.

Consult Your Financial Advisor

Crypto is a highly volatile instrument involving high risk, it is highly necessary to consult a financial advisor before putting your money into such instruments.

Tax Implications for Indian Investors

In India, cryptocurrency gains are treated as a separate class of income. As per current regulations:

Flat 30% Tax on Gains: Any profit from the transfer of cryptocurrency, including Bitcoin, is taxed at a flat rate of 30%. This applies irrespective of the holding period (short-term or long-term).

No Deduction for Losses or Expenses: Except for the cost of acquisition, no other deductions are allowed. Losses from crypto cannot be set off against other income and cannot be carried forward to subsequent years.

1% TDS: A 1% Tax Deducted at Source (TDS) is applicable on transactions exceeding ₹50,000 (₹10,000 for non-salaried individuals) in a financial year.   ​​​​​​​ https://www.news18.com/business/cryptocurrency/analysts-peg-bitcoin-at-1-million-by-2033-how-can-indian-investors-ride-the-wave-9145692.html www.cifdaq.com

CIFDAQ#BITCOIN#CRYPTOINVESTING

[caspi2305]

After $100,000, Bitcoin May Hit $1 Million By 2033: How Can Indian Investors Ride The Wave?

Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the US. Bitcoin Crosses $100,000: Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the United States. The cryptocurrency‘s recent rally comes amid growing institutional confidence and a pro-crypto policy shift under the leadership of US President-Elect Donald Trump. His appointment of Paul Atkins, a crypto advocate, as the SEC Chair and Elon Musk’s leadership in the newly formed Department of Government Efficiency are clear signals of a favourable regulatory environment for digital assets. Over the past month alone, BTC has surged by 50 per cent, with its market cap crossing the $2 trillion threshold and delivering 144 per cent year-to-date (YTD) return. Riding this wave of optimism, other tokens have also gained significant traction — SOL and XRP have hit an all-time high. 

What’s Driving Bitcoin’s Meteoric Rise?

This rally isn’t just about political shifts. Bitcoin ETFs recorded a staggering $676 million inflow in a single day, highlighting robust institutional demand. Edul Patel, CEO of Mudrex, expects that Bitcoin is expected to hit $120,000 in coming weeks. 

Global investment firm Bernstein in its latest report said Bitcoin could be headed for the stratosphere. It predicts Bitcoin to touch $200,000 by 2025, $500,000 by 2029, and $1 million per token by 2033.

With the US embracing pro-crypto policies other countries are also moving favourably, China has now lifted restrictions on personal crypto ownership. Brazil, and Russia are considering Bitcoin for reserves, signalling its growing global economic role.

What Experts Suggest Indian Investors

For Indian investors, this rally presents a golden opportunity. Despite regulatory uncertainty in India, the global push toward cryptocurrency legitimisation could benefit local investors. With increasing acceptance, Bitcoin is cementing itself as a hedge against inflation and a mainstream asset class.

“For investors, the spotlight now shifts to long-term planning: keeping an eye on market cycles, diversifying portfolios, and staying updated on regulatory shifts. While this breakthrough fuels optimism, it’s important to tread carefully — volatility remains part of the game," Himanshu Maradiya, Chairman and Founder, CIFDAQ.  

Balaji Srihari, business head at CoinSwitch, said if the past is any indicator, the April 2024 halving could spark a rally of 300-400 per cent, aligning perfectly with this forecasted target.

“However, in this dynamic environment, investors must stay informed about market developments to make confident and well-informed decisions," Srihari added.

How to Invest in Bitcoin in India?

If you’re new to the crypto world or looking to expand your portfolio, here’s how you can get started:

Choose a Reliable Exchange

Platforms like WazirX, CoinDCX, and Binance offer secure and user-friendly interfaces for trading Bitcoin. Ensure the platform is compliant with Indian regulations and offers robust security features.

Understand the Risks

Bitcoin’s volatility is legendary. While its long-term trajectory seems promising, investors must be prepared for sharp price swings. Invest only what you can afford to lose.

Stay Informed

Keep an eye on global developments, particularly in the US, as policy changes can significantly impact crypto markets. Utilise tools like CoinMarketCap and Glassnode to monitor Bitcoin’s performance.  

Diversify Your Portfolio

While Bitcoin is the most popular cryptocurrency, consider diversifying into other digital assets like Ethereum, Solana, or Cardano. Diversification can help balance risk and reward.

Consult Your Financial Advisor

Crypto is a highly volatile instrument involving high risk, it is highly necessary to consult a financial advisor before putting your money into such instruments.

Tax Implications for Indian Investors

In India, cryptocurrency gains are treated as a separate class of income. As per current regulations:

Flat 30% Tax on Gains: Any profit from the transfer of cryptocurrency, including Bitcoin, is taxed at a flat rate of 30%. This applies irrespective of the holding period (short-term or long-term).

No Deduction for Losses or Expenses: Except for the cost of acquisition, no other deductions are allowed. Losses from crypto cannot be set off against other income and cannot be carried forward to subsequent years.

1% TDS: A 1% Tax Deducted at Source (TDS) is applicable on transactions exceeding ₹50,000 (₹10,000 for non-salaried individuals) in a financial year.   ​​​​​​​ https://www.news18.com/business/cryptocurrency/analysts-peg-bitcoin-at-1-million-by-2033-how-can-indian-investors-ride-the-wave-9145692.html www.cifdaq.com

CIFDAQ#BITCOIN#CRYPTOINVESTING

[cryptoenthu]

What is Causing the Decline in the Crypto Market in 2024? – Forbes Advisor INDIA

The cryptocurrency market has recently experienced a significant downturn, with the total market capitalization dropping from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. This represents a substantial decrease in value, indicating a challenging period for investors in the crypto space. The market volume has also fallen by 13.13% in the last 24 hours, reflecting a lack of confidence and increased selling pressure.

Bitcoin, the largest cryptocurrency, is currently trading at $55,013, which is a 17.37% decrease over the past seven days. However, there was a slight increase of 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down by 26.53% in the last seven days. These price movements highlight the volatility and unpredictability of the cryptocurrency market.

The recent plunge in the cryptocurrency market can be attributed to various factors, including political uncertainty, geopolitical tensions, economic data, and ETF performance. CoinSwitch Markets Desk reported that the market saw one of the biggest crashes in crypto history, with Bitcoin losing over $250 billion in market cap in a single day. This sharp decline was triggered by events such as the Middle East escalations and the Japanese stock market crash.

Experts in the field, such as Sathvik Vishwanath, CEO of Unocoin, and Himanshu Maradiya, Founder of CIFDAQ Blockchain Ecosystem Ind Ltd, have pointed out that the recent decline in the crypto market is linked to the Bank of Japan’s decision to hike interest rates. This move has impacted carry trades, where traders borrow in low-interest-rate currencies and invest in higher-yielding assets like cryptocurrencies. The resulting sell-off in both stock and crypto markets has led to significant losses for investors.

As of August 6, 2024, the Fear and Greed index stands at 34, indicating a fear state among investors. This sentiment is reflected in the price movements of major cryptocurrencies like Bitcoin and Ethereum, which have seen significant declines in value over the past week. Altcoins have also been affected, with many experiencing double-digit percentage drops.

In light of these developments, investors are advised to proceed with caution when investing in cryptocurrencies. The market’s volatility and sensitivity to external factors make it a risky investment option. However, some experts suggest that investing a small portion of one’s portfolio in stable digital currencies like Bitcoin and Ethereum could be a safer approach.

For those looking to invest in the Indian cryptocurrency market, there are specific steps to follow. These include selecting the best cryptocurrency, choosing a reputable crypto exchange, completing KYC formalities, selecting a payment mode, purchasing cryptocurrency, storing it securely, and selling it when necessary. By following these steps and staying informed about market trends, investors can navigate the crypto space more effectively.

In conclusion, the recent downturn in the cryptocurrency market serves as a reminder of the risks involved in this volatile asset class. It is essential for investors to exercise caution, conduct thorough research, and diversify their portfolios to mitigate potential losses. By staying informed and following best practices, investors can navigate the crypto market more effectively and make informed decisions about their investments.

www.cifdaq.com #CIFDAQ #CRYPTO #TRADING #BLOCKCHAIN

[aiandblockchainchronicles]

Exploring CoinDCX Blog: In-Depth Crypto Analyses, Predictions, and Taxation Guides

As the cryptocurrency market continues to evolve, investors and traders seek reliable sources of information to navigate the ever-changing landscape. CoinDCX, one of India's leading cryptocurrency exchanges, has established itself as a go-to platform for insightful market analyses, expert price predictions, and educational resources. Their blog serves as a valuable repository of knowledge, covering everything from Bitcoin price forecasts to comprehensive guides on crypto taxation in India.

In this article, we’ll explore some of the most insightful content from the CoinDCX, including Bitcoin’s 2025 price predictions, the impact of institutional investments, and the critical aspects of crypto taxation for Indian investors.

Bitcoin Price Prediction 2025: Will BTC Hit $200,000?

One of the most talked-about topics in the crypto space is Bitcoin’s future price trajectory. CoinDCX recently published an in-depth article titled "Bitcoin Price Prediction 2025: BTC Price To Hit $200,000 This Year?", analyzing various factors that could drive Bitcoin's price to new all-time highs.

According to the analysis, Bitcoin was trading above $99,000 in early 2025, showing significant recovery after bearish phases in 2024. The article highlighted key technical indicators, such as:

Support Levels & Trend Lines: Bitcoin has been following an ascending trend line, suggesting a strong bullish structure.

Market Sentiment: The Fear-Greed Index rising to 75 indicated growing optimism among traders.

Institutional Interest: The accumulation of Bitcoin through ETFs and increasing whale activity pointed to long-term bullish prospects.

With institutional investors accumulating BTC during price dips, there is a strong case for continued bullish momentum. Some analysts predict that Bitcoin could surpass the $200,000 mark by the end of 2025, provided macroeconomic conditions remain favorable.

Crypto Taxation in India: What Investors Need to Know

As cryptocurrencies gain traction in India, regulatory clarity on taxation has become crucial. CoinDCX has taken the initiative to educate investors about their tax obligations through detailed guides.

Key Taxation Aspects Covered by CoinDCX:

Flat 30% Tax on Crypto Gains:

Any income from the transfer of digital assets is taxed at 30% under India’s tax laws.

Losses cannot be offset against other income sources.

1% TDS (Tax Deducted at Source):

TDS is applicable on transactions involving the sale or transfer of cryptocurrencies.

Failure to comply can result in penalties or legal consequences.

Filing Crypto Taxes with CoinDCX & KoinX:

CoinDCX has integrated with KoinX, a crypto tax calculation tool, to simplify tax filing.

Users can generate tax reports directly within the CoinDCX app.

Understanding and adhering to tax obligations is essential for crypto investors in India to avoid legal complications. CoinDCX’s taxation guides serve as a reliable resource for investors looking to stay compliant.

Beyond Bitcoin: Price Predictions for Ethereum, Solana, and More

While Bitcoin remains the dominant cryptocurrency, other digital assets like Ethereum, Solana, and XRP have shown promising growth. CoinDCX’s Price Predictions section provides insights into potential price movements of various cryptocurrencies.

Some recent predictions include:

Ethereum (ETH) Price Prediction 2025: Analysts foresee ETH potentially reaching $10,000, driven by Ethereum 2.0 upgrades and increasing institutional adoption.

Solana (SOL) Market Outlook: Despite past network congestion issues, SOL is expected to remain a strong competitor in the DeFi and NFT space.

XRP & Regulatory Developments: With ongoing legal battles with the SEC, XRP’s price trajectory remains uncertain but could see significant upside if favorable rulings emerge.

CoinDCX’s price prediction articles help traders make informed decisions by providing both fundamental and technical analyses of leading cryptocurrencies.

The Role of Institutional Investors in Crypto Markets

One key trend shaping the crypto market is the increasing participation of institutional investors. CoinDCX has discussed how institutional accumulation through Bitcoin ETFs, corporate treasuries, and hedge funds has contributed to market stability.

Bitcoin ETFs: The approval of spot Bitcoin ETFs has provided institutional investors with a regulated way to gain exposure to Bitcoin.

Whale Accumulation: Large holders strategically buying Bitcoin during price dips indicate long-term confidence in the asset.

Mainstream Adoption: Companies like Tesla, MicroStrategy, and BlackRock continue to integrate Bitcoin into their investment strategies.

Institutional involvement is expected to provide further legitimacy to the crypto market and drive long-term price appreciation.

CoinDCX: A Hub for Crypto Education and Market Insights

Beyond price predictions and taxation guides, CoinDCX offers a variety of educational resources for crypto enthusiasts. Their blog covers topics such as:

Crypto Futures Trading & Taxation: Understanding how futures contracts work and the associated tax implications.

DeFi (Decentralized Finance) Opportunities: How DeFi is revolutionizing traditional finance through lending, borrowing, and yield farming.

NFT Market Trends: The evolution of Non-Fungible Tokens (NFTs) and their impact on digital ownership.

By offering well-researched and detailed articles, CoinDCX continues to empower investors with the knowledge needed to navigate the complex world of cryptocurrencies.

Final Thoughts

The CoinDCX blog is an invaluable resource for anyone looking to stay updated on cryptocurrency trends, price predictions, and regulatory changes. Whether you’re a new investor trying to understand crypto taxation or a seasoned trader seeking in-depth market analyses, CoinDCX provides the insights needed to make informed decisions.

[insiderexpertwolf]

Navigating the Cryptocurrency Market: A Comprehensive Guide to Bitcoin, Ethereum, and Beyond

The world of cryptocurrency has rapidly evolved from a niche interest to a significant force in global finance. Since Bitcoin's inception in 2009, it has captured the attention of investors, tech enthusiasts, and policymakers alike. Today, alongside Bitcoin, numerous other cryptocurrencies like Ethereum, Solana, and XRP are making waves, each with its unique value proposition and potential for growth. This article will serve as your comprehensive guide to navigating the cryptocurrency market, focusing on key concepts, current trends, and practical strategies for success.

The cryptocurrency market is known for its volatility, with prices fluctuating rapidly in response to news and events. Bitcoin's price, for example, hit an all-time high of over $69,000 in November 2021 before experiencing significant corrections. As of the latest data, Bitcoin's price is around $99,383, while other major cryptocurrencies like Ethereum, BNB, Solana, and XRP are also experiencing price fluctuations. This volatility highlights the importance of staying informed and being prepared for potential market swings.

Understanding the Key Players

Bitcoin (BTC): As the first decentralized digital currency, Bitcoin remains the most well-known and influential cryptocurrency. It is often seen as a store of value and a hedge against traditional financial systems. Bitcoin's market cap stands at $1,969,883,337,117 with a 24-hour trading volume of $40,216,134,991.

Ethereum (ETH): Ethereum is the second-largest cryptocurrency by market cap and a platform for decentralized applications (dApps) and smart contracts. It is used in decentralized finance (DeFi) applications, allowing for peer-to-peer lending and trading without intermediaries. However, some analysts believe that Ethereum's upgrades lack the immediate impact needed to drive bullish sentiment in the market, and that Solana is becoming a leading competitor to Ethereum in terms of scalability.

Other Notable Cryptocurrencies: The cryptocurrency market includes many alternative coins (altcoins), such as BNB, Solana, XRP, Shiba Inu, Pepe, Bonk, dogwifhat, and Popcat. Each of these has different technological features, market positioning and risk profiles, and have been seeing their own price swings. For instance, Solana is gaining traction with 60 million daily transactions compared to Ethereum’s 1 million.

Essential Tips for Navigating the Crypto Market

Stay Informed: Keep up-to-date with the latest cryptocurrency news. The market is highly reactive to news and events, making it critical to follow developments in the industry. You can follow crypto news from sources such as.

Understand Market Volatility: Be aware that cryptocurrency prices can fluctuate dramatically. The cryptocurrency market is known for its rapid and unpredictable price changes, and therefore, managing risk is important to ensure long-term success.

Diversify Your Portfolio: Do not invest all your capital in a single cryptocurrency. Diversifying among multiple cryptocurrencies can help reduce risk.

Use Reputable Exchanges: When purchasing cryptocurrencies, be sure to use reputable and secure cryptocurrency exchanges. Be aware of security risks like sandwich attacks that can manipulate transaction prices and know the strategies to protect your crypto trades.

Consider Long-Term Investing: While day trading can offer quick returns, it also carries high risks. Consider a long-term investment strategy focused on fundamentally strong cryptocurrencies.

Be Aware of Market Trends: Watch out for market trends, such as the rise in interest in memecoins, and increased involvement of institutional investors, and the development of crypto ETFs and the tokenization of real-world assets (RWA).

Be Aware of Regulatory Changes: The cryptocurrency landscape is subject to evolving regulations that can significantly affect prices and market dynamics. For example, India has imposed a 70% tax penalty on undisclosed crypto gains.

Guides and Strategies

How to Buy Bitcoin: Bitcoin can be purchased through cryptocurrency exchanges, Bitcoin ATMs, or P2P marketplaces. Make sure the platform you choose is safe, secure and reputable.

Understanding "Bear Traps": A bear trap is a form of coordinated selling that creates a temporary dip in an asset's price during a long-term uptrend. Being aware of these events can help you make better trading decisions and reduce your exposure to risk.

Analyzing Technical Patterns: Technical analysis of crypto price charts can reveal patterns and trends that may suggest where prices might go. For example, one analyst projects that Ethereum could reach $5,000 by March due to a technical pattern.

Monitoring Institutional Involvement: The increasing involvement of institutions in the crypto market can signal a shift in market dynamics. Keep an eye out for major companies that are investing in cryptocurrencies, and nations that are adding Bitcoin to their reserves.

Participating in Crowdfunding: Understand the risks associated with initial coin offerings (ICOs), which raised billions during 2017-2018, but many projects ultimately failed. New projects are still being launched, but caution should be exercised in these early stages of the lifecycle of crypto projects.

Examples and Case Studies

Thumzup Media Corporation's Bitcoin Investment: Thumzup doubled its Bitcoin holdings to 19.106 BTC, increasing its investment in digital assets to $2 million. This demonstrates the increasing interest of companies in investing in digital assets.

MicroStrategy's Oversubscribed Stock Offering: MicroStrategy’s stock offering was oversubscribed by nearly 3 times the expected volume, showing the strong interest in companies associated with Bitcoin.

El Salvador's Bitcoin Adoption: El Salvador's initial adoption of Bitcoin as legal tender and its subsequent policy changes show how government policies can affect the crypto market. Note that El Salvador has since amended its Bitcoin Law, making it optional for merchants to accept Bitcoin as payment.

Tether's Profitability: Tether reported net profits of $13 billion in 2024, highlighting the financial scale of some players in the crypto market. Also, stablecoins overall have seen a major increase, with the total stablecoin market cap jumping $37 billion.

Ethereum Trader's Profit: An Ethereum trader earned $16 million as ETH price fell to $3K, demonstrating the potential profits associated with leveraged trading, which also has high risks.

Kraken Delisting of Stablecoins: Kraken's delisting of Tether USDT and other stablecoins in Europe shows how regulations can impact exchanges and the availability of certain coins.

The cryptocurrency market presents both significant opportunities and substantial risks. By staying informed, understanding market dynamics, and following sound investment strategies, you can navigate this complex landscape with greater confidence. Whether you are a seasoned investor or a newcomer, the key is to approach the crypto market with knowledge, caution, and a long-term perspective. The market is constantly changing, so make sure to keep learning and updating your understanding of this new technology.

[monkeydluffy2805]

What is Causing the Decline in the Crypto Market in 2024? – Forbes Advisor INDIA

The cryptocurrency market has recently experienced a significant downturn, with the total market capitalization dropping from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. This represents a substantial decrease in value, indicating a challenging period for investors in the crypto space. The market volume has also fallen by 13.13% in the last 24 hours, reflecting a lack of confidence and increased selling pressure.

Bitcoin, the largest cryptocurrency, is currently trading at $55,013, which is a 17.37% decrease over the past seven days. However, there was a slight increase of 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down by 26.53% in the last seven days. These price movements highlight the volatility and unpredictability of the cryptocurrency market.

The recent plunge in the cryptocurrency market can be attributed to various factors, including political uncertainty, geopolitical tensions, economic data, and ETF performance. CoinSwitch Markets Desk reported that the market saw one of the biggest crashes in crypto history, with Bitcoin losing over $250 billion in market cap in a single day. This sharp decline was triggered by events such as the Middle East escalations and the Japanese stock market crash.

www.cifdaq.com

[crunchupdates]

Crunchupdates Company Coin Updates: The Latest Insights on the Crypto Market

The cryptocurrency marketplace is continuously evolving, with new developments, rate moves, and technological upgrades shaping its future. For clients, shoppers, and crypto fanatics, staying updated on those modifications is critical. Crunchupdates Company has emerged as a trusted supply for real-time coin updates, offering valuable insights into the current traits in the virtual asset place. In this newsletter, we discover the modern coin updates from Crunchupdates, reading their effect on the crypto market.

Bitcoin and Ethereum Price Trends

Crunchupdates has been carefully monitoring the fee dispositions of important cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). According to their ultra-contemporary-day critiques:

Bitcoin (BTC) presently expert a surge past the $forty five,000 mark, pushed through institutional investments and macroeconomic factors. However, market volatility remains a key problem for customers.

Ethereum (ETH) is witnessing an increase in name for due to the developing adoption of Ethereum 2.0 and layer-2 scaling solutions. Its price is soaring round $3,500, with analysts predicting in addition bullish movement.

Altcoin Market Performance

Besides BTC and ETH, Crunchupdates has been tracking severa altcoins that have gained traction in cutting-edge day months. Some noteworthy updates embody:

Solana (SOL): With its immoderate-tempo blockchain, Solana has been a favourite among developers. Crunchupdates reports an eight% weekly gain because of expanded DeFi and NFT sports activities.

Ripple (XRP): The ongoing prison warfare with the SEC stays a top difficulty influencing XRP’s rate. Despite regulatory hurdles, Crunchupdates highlights a regular rise in transactions at the Ripple network.

Polygon (MATIC): Polygon’s layer-2 answers preserve to attract developers. Crunchupdates notes that primary partnerships with gaming and DeFi structures have contributed to its rate balance.

Institutional Investments and Crypto Adoption

One of the critical aspect coin updates from Crunchupdates specializes in institutional involvement in the crypto place. The cutting-edge statistics indicates that:

BlackRock and Fidelity have expanded their crypto holdings, signaling self notion inside the marketplace.

Major banks along with JPMorgan and Goldman Sachs are integrating blockchain era into their economic products.

Tesla and MicroStrategy maintain to keep Bitcoin on their balance sheets, reinforcing BTC’s characteristic as a store of price.

Regulatory Developments and Their Impact

Regulation performs a critical feature in shaping the crypto landscape. Crunchupdates highlights present day-day regulatory shifts, which encompass:

U.S. SEC’s stance on spot Bitcoin ETFs, with ability approvals anticipated fast.

Europe’s MiCA law aimed in the direction of supplying a criminal framework for cryptocurrencies in the area.

India’s evolving stance on crypto taxation and alternate tips, that could have an effect on market participation.

Crypto Market Predictions for 2025

Crunchupdates moreover offers market predictions for 2025, thinking about contemporary inclinations and professional evaluations. Some key forecasts consist of:

Bitcoin doubtlessly task $a hundred,000, driven thru mass adoption and institutional looking for.

Ethereum dominating the DeFi and NFT space, with ETH 2.Zero improvements making it greater scalable.

Metaverse and AI-pushed crypto responsibilities gaining popularity, main to new investment possibilities.

Conclusion

Crunchupdates Company remains a reliable supply for real-time coin updates, offering in-depth assessment of marketplace inclinations, fee actions, and regulatory modifications. Whether you’re a pro investor or a newcomer, staying knowledgeable with Crunchupdates let you navigate the dynamic worldwide of cryptocurrencies. Keep a watch on their present day-day opinions to make properly-knowledgeable options inside the ever-evolving crypto panorama.

[9point-capital]

India, ready for a breakthrough? Legal, secure Bitcoin & Ethereum ETF investments are closer than you think.

For more information, visit: 9Point Capital - India's First Digital Assets Management Company

[cryptokid3]

What is Causing the Decline in the Crypto Market in 2024? – Forbes Advisor INDIA

The cryptocurrency market has recently experienced a significant downturn, with the total market capitalization dropping from $2.51 trillion in May 2024 to $1.95 trillion as of August 6, 2024. This represents a substantial decrease in value, indicating a challenging period for investors in the crypto space. The market volume has also fallen by 13.13% in the last 24 hours, reflecting a lack of confidence and increased selling pressure.Bitcoin, the largest cryptocurrency, is currently trading at $55,013, which is a 17.37% decrease over the past seven days. However, there was a slight increase of 8.04% in the last 24 hours. Ethereum, the second-largest cryptocurrency, is trading at $2,447, down by 26.53% in the last seven days. These price movements highlight the volatility and unpredictability of the cryptocurrency market.

The recent plunge in the cryptocurrency market can be attributed to various factors, including political uncertainty, geopolitical tensions, economic data, and ETF performance. CoinSwitch Markets Desk reported that the market saw one of the biggest crashes in crypto history, with Bitcoin losing over $250 billion in market cap in a single day. This sharp decline was triggered by events such as the Middle East escalations and the Japanese stock market crash.Experts in the field, such as Sathvik Vishwanath, CEO of Unocoin, and Himanshu Maradiya, Founder of CIFDAQ Blockchain Ecosystem Ind Ltd, have pointed out that the recent decline in the crypto market is linked to the Bank of Japan’s decision to hike interest rates. This move has impacted carry trades, where traders borrow in low-interest-rate currencies and invest in higher-yielding assets like cryptocurrencies. The resulting sell-off in both stock and crypto markets has led to significant losses for investors.

As of August 6, 2024, the Fear and Greed index stands at 34, indicating a fear state among investors. This sentiment is reflected in the price movements of major cryptocurrencies like Bitcoin and Ethereum, which have seen significant declines in value over the past week. Altcoins have also been affected, with many experiencing double-digit percentage drops.In light of these developments, investors are advised to proceed with caution when investing in cryptocurrencies. The market’s volatility and sensitivity to external factors make it a risky investment option. However, some experts suggest that investing a small portion of one’s portfolio in stable digital currencies like Bitcoin and Ethereum could be a safer approach.

For those looking to invest in the Indian cryptocurrency market, there are specific steps to follow. These include selecting the best cryptocurrency, choosing a reputable crypto exchange, completing KYC formalities, selecting a payment mode, purchasing cryptocurrency, storing it securely, and selling it when necessary. By following these steps and staying informed about market trends, investors can navigate the crypto space more effectively.In conclusion, the recent downturn in the cryptocurrency market serves as a reminder of the risks involved in this volatile asset class. It is essential for investors to exercise caution, conduct thorough research, and diversify their portfolios to mitigate potential losses. By staying informed and following best practices, investors can navigate the crypto market more effectively and make informed decisions about their investments.

www.cifdaq.com

[universaldogemusk]

Analyst Tells Forbes Bitcoin Could Hit $1,000,000 as Soon as Next Year

Bitcoin (BTC) has endured a tumultuous period over the past few weeks, with its value experiencing significant swings. After peaking at around $70,000 in July, the cryptocurrency plunged below $48,000 by August 5th. However, it has since demonstrated signs of resurgence, rebounding to approximately $62,500. Several analysts are making bold predictions about Bitcoin’s future trajectory amid these volatile shifts.

In a recent interview with Forbes, Himanshu Maradiya, founder and chairman of CIFDAQ Blockchain Ecosystem, presented an eye-catching forecast, suggesting that Bitcoin could potentially hit $1,000,000 by 2025. While this prediction might seem audacious, Maradiya believes several factors could drive Bitcoin towards this milestone.

Notably, the pundit pointed to the increasing adoption of Bitcoin, the approval of Bitcoin ETFs in various countries, and rising concerns over fiat currency devaluation as key drivers. The pundit also emphasized the recent halving event on April 20, 2024, which reduced the rate at which new Bitcoins are created, as another factor influencing his predictions. Historically, Bitcoin halvings have led to significant price increases due to reduced supply.

“Predicting a $1,000,000 Bitcoin might appear overly optimistic, but the increasing institutional interest and regulatory support for cryptocurrencies make this scenario plausible,” Maradiya stated.

Elsewhere, former BitMEX CEO Arthur Hayes recently suggested that Bitcoin might spike to $1,000,000 in the current market cycle. In an interview with DL News last week, Hayes attributed this potential surge to global financial shifts and high debt levels.

“The Bitcoin price in this cycle is going to go very, very high. Hundreds of thousands of dollars, maybe $1 million.” Said, Hayes. “We’re entering a period of significant change in the global monetary system.”

Elsewhere, Rajagopal Menon, Vice President of India’s largest crypto exchange, WazirX, commented on Bitcoin’s potential. Menon believes Bitcoin could initially target between $90,000 and $100,000 before the year ends.

“The $100,000 mark represents a significant psychological barrier,” Menon said. “Bitcoin may experience substantial resistance around this level, which could affect its short-term performance.”

Veteran trader Peter Brandt has also echoed a bullish outlook, predicting that Bitcoin could reach $150,000 by the end of 2025. Like Maradiya, Brandt’s forecast is based on historical trends associated with Bitcoin’s halving cycles, often leading to bullish market phases. However, Brandt also cautioned that there is a 50% chance Bitcoin might drop below $40,000 before the effects of the latest halving fully materialize.

Bitcoin traded at $59,234 at press time, reflecting a 1.03% drop over the past 24 hours.

https://cifdaq.com/

[casper0510]

Could Bitcoin hit $1 million next year? Analyst says it's possible.

After Bitcoin's price peaked in July at around $73,000, it fell back below $48,000 by early August. Since then, the price has shown some recovery and is currently hovering around $62,500. Don't miss out on the latest news and interesting facts - follow us on Facebook and stay up to date in the crypto world! 

The $1 million goal Himanshu Maradiya, founder and president of CIFDAQ Blockchain Ecosystem, has made a very bold prediction, as he believes that the price of Bitcoin could reach $1 million by 2025.

While this prediction may seem overly optimistic, Maradiya says several factors could contribute to this.

One of the key drivers he highlighted is the growing acceptance of Bitcoin and the approval of Bitcoin ETFs in various countries.

These are positive factors, but there are also negative ones, such as concerns about the devaluation of fiat currencies, which also play a role in potential growth.

Maradiya also mentioned the fourth halving in April this year, which reduced the rate at which new Bitcoins are created.

Historically, such halvings have always led to significant price increases due to reduced supply. 

“The $1 million Bitcoin prediction may seem overly optimistic, but growing institutional interest and support for cryptocurrencies from nations makes this scenario likely.” Maradiya is not alone in her opinion. Former BitMEX CEO Arthur Hayes shares this view, stating that Bitcoin could reach $1 million within the current market cycle.

In an interview with DL News, Hayes attributed this growth to global financial changes and rising debt levels.

“The price of Bitcoin is going to go very, very high in this cycle. Hundreds of thousands of dollars, maybe even $1 million, and we are entering a period of significant change in the global financial system.”  

First $100,000 or $40,000? Rajagopal Menon, the vice president of India’s largest crypto exchange, WazirX, also shared some thoughts on Bitcoin’s potential. Menon believes that Bitcoin could reach the $90,000 to $100,000 range by the end of the year.

“The $100,000 level represents a significant psychological barrier. Bitcoin could face significant resistance at this level, which could impact its short-term performance.” According to another experienced trader and expert, Peter Brandt, Bitcoin could reach $150,000 by the end of 2025.   However, Brandt also warned that there is a 50% chance that Bitcoin will fall below $40,000 before the effects of the latest halving take full effect and the rally begins.

CIFDAQ#BITCOIN#CRYPTOINVESTING#BLOCKCHAIN#WEB3COMMUNITY  

www.cifdaq.com

[caspi2305]

Could Bitcoin hit $1 million next year? Analyst says it's possible,

After Bitcoin's price peaked in July at around $73,000, it fell back below $48,000 by early August. Since then, the price has shown some recovery and is currently hovering around $62,500. Don't miss out on the latest news and interesting facts - follow us on Facebook and stay up to date in the crypto world! 

The $1 million goal Himanshu Maradiya, founder and president of CIFDAQ Blockchain Ecosystem, has made a very bold prediction, as he believes that the price of Bitcoin could reach $1 million by 2025.

While this prediction may seem overly optimistic, Maradiya says several factors could contribute to this.

One of the key drivers he highlighted is the growing acceptance of Bitcoin and the approval of Bitcoin ETFs in various countries.

These are positive factors, but there are also negative ones, such as concerns about the devaluation of fiat currencies, which also play a role in potential growth.

Maradiya also mentioned the fourth halving in April this year, which reduced the rate at which new Bitcoins are created.

Historically, such halvings have always led to significant price increases due to reduced supply. 

“The $1 million Bitcoin prediction may seem overly optimistic, but growing institutional interest and support for cryptocurrencies from nations makes this scenario likely.” Maradiya is not alone in her opinion. Former BitMEX CEO Arthur Hayes shares this view, stating that Bitcoin could reach $1 million within the current market cycle.

In an interview with DL News, Hayes attributed this growth to global financial changes and rising debt levels.

“The price of Bitcoin is going to go very, very high in this cycle. Hundreds of thousands of dollars, maybe even $1 million, and we are entering a period of significant change in the global financial system.”  

First $100,000 or $40,000? Rajagopal Menon, the vice president of India’s largest crypto exchange, WazirX, also shared some thoughts on Bitcoin’s potential. Menon believes that Bitcoin could reach the $90,000 to $100,000 range by the end of the year.

“The $100,000 level represents a significant psychological barrier. Bitcoin could face significant resistance at this level, which could impact its short-term performance.” According to another experienced trader and expert, Peter Brandt, Bitcoin could reach $150,000 by the end of 2025.   However, Brandt also warned that there is a 50% chance that Bitcoin will fall below $40,000 before the effects of the latest halving take full effect and the rally begins.

CIFDAQ#BITCOIN#CRYPTOINVESTING#BLOCKCHAIN#WEB3COMMUNITY  

www.cifdaq.com

[cryptoenthu]

Bitcoin Price Prediction: Can Bitcoin Reach $1,000,000 by 2025?

2024 began with significant momentum for cryptocurrencies, especially like Bitcoin and Ethereum, eliciting enthusiasm among crypto enthusiasts. As of Dec. 05, 2024, Bitcoin hyped to an exceptional all-time high at $103,900, with a market capitalization of $2.02 trillion, representing a 6.80% increase in the last week.

Bitcoin has surged due to certainty fuelled by the U.S. presidential elections and Republican candidate Donald Trump’s victory. BTC traded around $95,000 in the last few days after nearly touching $100,000. As of today, Dec. 05, 2024, it surged to the extreme high of $103,900. The anticipation that Trump’s administration will usher in a friendly regulatory environment for cryptocurrencies has fueled the surge. 

As of Dec. 5, 2024, the world’s largest cryptocurrency is trading at $102,706. After Trump’s victory on Nov. 5, the price has surged around 45%, driven by a swathe of buying and pouring capital into U.S. bitcoin-backed exchange-traded funds.

Bitcoin’s Recovery Journey

Bitcoin has endured a tumultuous period, shedding approximately 65% of its market value over the past year. Crypto enthusiasts were taken aback by unforeseen events such as the Terra Luna crash, FTX decline, macroeconomic factors, and Binance’s legal issues. Nonetheless, the crypto market exhibited a remarkable recovery toward the end of the year, with BTC showing promising growth. 

Bitcoin surged to impressive heights, surpassing its all-time highs multiple times following the U.S. presidential elections, reaching $103,900 as of Dec. 05, 2024. BTC ETF options on the Nasdaq may have also contributed to the surge. This surge propelled its market capitalization to $2.03 trillion, contributing to the overall crypto market capitalization of $3.69 trillion, reflecting exceptional performance.

After surpassing the psychological threshold of the $31,000 mark, Bitcoin started exhibiting a bearish trend and traded below $30K levels for most of the last year. However, it has shown remarkable recovery in the latter months of the year.

The world’s largest cryptocurrency, BTC, which was on a recovery path, has increased around 147.39% in one year. As of Dec. 05, 2024, it is currently trading at $102,658, with a market capitalization of $2.03 trillion and a global cryptocurrency market capitalization of $3.69 trillion.

Cryptocurrency experts believed that if BTC maintained its level of $30,000, it could likely bounce back from there. Looking at the current scenario, Bitcoin surpassed its all-time high in March but witnessed a downtrend later.

In April 2023, the top cryptocurrency Bitcoin, touched the critical resistance of the $30,000 level for the first time since June 10, 2022, and then started dipping below $26,000. It significantly rose to $45,203 after May 2022. Crypto experts believe that if Bitcoin maintains the $45,000 level and beyond, it could reach $60,000 by the end of 2024. In the first three months of the year, BTC has already touched the level of $73,750 and set a new record for an all-time high.

While the future of Bitcoin is unknown, retail investors must be very cautious about every move of Bitcoin, as it has witnessed tumultuous before. Moreover, India’s stance on cryptocurrencies continues to be firm, with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act. In a specific gazette notification, the Union Finance Ministry of India stated that all the transactions related to digital assets or virtual currency would fall under the purview of the Prevention of Money Laundering Act (PMLA). 

The new development may appear damaging to the cryptocurrency community in India. However, the industry has praised the move as a step towards regulating this space. Without regulators, the enforcement agencies will immediately take recourse to any discrepancies. 

The Spot Bitcoin ETFs have been a tremendous factor in Bitcoin’s growth. After the SEC approved the ETFs in the U.S., retail investors showed great interest, leading to Bitcoin surpassing its all-time high. By the end of September, after the U.S. Federal Reserve’s rate cut, BTC is, as of Oct. 16, 2024, trading at $67,000. The U.S. Fed cut rates by 50 basis points, and the Bank of Japan kept interest rates steady. BTC rose around 3% a day after both central banks’ announcements.

One of the other reasons crypto experts were hopeful about Bitcoin is that this year, 2024, was a year for Bitcoin’s halving event. The Bitcoin halving event happens every four years, during which BTC rewards to its miners are cut by 50% (the miner’s payout will be reduced to 3.125 BTC). This event is usually positive for Bitcoin’s price, as it helps contract supply. 

Historically, halving has been seen as an excellent sign for bringing momentum to Bitcoin’s price. So far, this year’s halving that took place on April 20, 2024, has not caused the surge to the BTC, as experts anticipated. The current state of Bitcoin reflects a significant downtrend. 

The above table shows that past halving events have established long-term bullish drivers for Bitcoin’s price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC is a decentralized cryptocurrency, any central banks or governments can’t print it, and thus, Bitcoin’s total supply is limited. 

Moreover, “Bitcoin Whales,” referring to large investors, have started accumulating Bitcoin again. According to data from CoinMarketCap, these large Bitcoin whales, holding as of Dec. 3, 2024, have 248.60K BTC in their wallets, indicating that investors have been filling their wallets with a substantial amount of Bitcoins. This accumulation may contribute to boosting the price of Bitcoin.

Bitcoin Reached $100,000 In 2024

The year’s second half has been full of surprises and growth for cryptocurrencies. After the 2024 U.S. presidential elections, Republican candidate Trump’s race and victory have made people expect favorable regulations around crypto investment. The political change has made BTC reach its expected heights and surge past $100,000 in 2024, with few days left before the year ends. 

Himanshu Maradiya, chairman and founder of CIFDAQ, said, “Bitcoin’s leap past the $100,000 mark isn’t just a financial milestone—it’s a historic moment that cements the growing clout of decentralized assets in the mainstream. For investors, the spotlight now shifts to long-term planning: keeping an eye on market cycles, diversifying portfolios, and staying updated on regulatory shifts. 

While this breakthrough fuels optimism, he signals caution. “Seasoned investors see this as a chance to reassess risk strategies, while newcomers are urged to prioritize learning the ropes before diving in. The road ahead will demand both patience and conviction,” said Maradiya.

Note: The figures are sourced from CoinMarketCap.

Can Bitcoin Reach $1,000,000 by 2025?

According to Binance’s price prediction input for Bitcoin, the value of BTC may increase by +5% and reach 137,394.62  by 2030. The consensus rating indicates a bullish current sentiment. This indication is based on 3857 users’ crypto ratings for Bitcoin (BTC); 36.71% of users are bullish on BTC.

Bitcoin enthusiasts often make overly optimistic and sometimes unrealistic predictions for their favorite cryptocurrency. After the surge, numerous discussions have occurred around Bitcoin, the world’s largest digital coin. 

Vikram Subburaj, chief executive officer of Giottus, said that speculation is rife about how high BTC can go, with many predicting $1,000,000. Gold has a market capitalization of $17 trillion, and BTC is highly unlikely to reach the $1 million mark in 2025. However, BTC hitting the $1 million mark in subsequent years cannot be ruled out.

Bottom Line  

Among the myriad predictions on Bitcoin, the bottom line remains that it has experienced several downfalls and has emerged stronger than before each time. Its resilient nature instills a belief in crypto enthusiasts who see value in investing in decentralized currencies. 

Only time can tell whether Bitcoin continues to rise or face downfall, and trading Bitcoin should be done with full awareness; your investment may yield a different return than the anticipated return.

www.cifdaq.com