Dive into the full October 2024 Bitcoin report for the latest insights and analysis. Click here to read the full report: Read the report
The October 2024 edition of The Bitcoin Report is packed with expert insights and bullish price predictions as Bitcoin continues to cement its place as the leading decentralized digital asset. This month we focus on several key topics: Bitcoin’s falling exchange rates, ETF inflows surging above $5 billion, and bullish price targets that could redefine Bitcoin’s value in the coming quarter. Featured contributions come from some of the biggest names in the Bitcoin space, including Caitlin Long, who provides industry insight into Bitcoin’s adoption cycle, and Tone Vays, whose exclusive price forecast provides reasons for optimism as Bitcoin heads towards potential new highlights.
Report highlights:
- Bitcoin On-Chain Analysis: This section examines how declining exchange balances and increasing self-restraint reflect an increase in long-term sentiment. With Bitcoin exchange balances hitting new lows, it signals increasing confidence among investors who are choosing to take control of their own assets rather than leaving them on the exchange.
- Bitcoin ETFsOctober saw inflows of more than $5.4 billion into Bitcoin ETFs, with BlackRock’s IBIT leading the market. This record month underlines Bitcoin’s growing acceptance in mainstream financial markets, bolstered by the approval of options trading on Bitcoin ETFs. Dr. Michael Tabone, an economist and professor at the University of the Cumberlands, gives his view on how this wave could develop in the coming months.
- Bitcoin mining update: Russia and China have quietly expanded their influence in global mining, with the US still holding the largest share of hashrate. Crypto Oxygen’s Lukas Pfeiffer explains how these shifts could reshape global mining dynamics and what this means for the future.
- Price prediction by Tone Vays: Bitcoin analyst Tone Vays remains incredibly optimistic about Bitcoin’s future price, citing multiple technical indicators and historical patterns. The report details potential price targets ranging from $102,000 to $140,000 by mid-2025, supported by bullish technical analysis such as Fibonacci extensions and a classic cup-and-handle chart pattern.
- Industry insights from Caitlin Long: Caitlin Long, founder and CEO of Custodia Bank, provides her perspective on Bitcoin adoption trends and how the broader economic environment continues to favor decentralized assets. According to Long, Bitcoin’s fundamentals are strong and a bull market could be in store after the 2024 US presidential election.
The report also includes valuable contributions from other experts in the Bitcoin ecosystem, including Philip Swift on Bitcoin derivatives, Lucas Betschart on regulatory changes, Pete Rizzo on Bitcoin history, Pascal Hügli with on-chain analysis, Dr. Michael Tabone on Bitcoin Stocks and ETFs. , Joël Kai Lenz on Bitcoin adoption, and Patrick Heusser on technical analysis. These contributions provide a well-rounded view of the current state of Bitcoin and its future potential.
Get the full insights, charts and analysis by accessing the full report now. We invite your organization to explore potential sponsorship or joint publishing opportunities for future editions by contacting Mark Mason at mark.mason@btcmedia.org. Let’s orange pill the world together!
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