BITCOIN’S POTENTIAL

Bitcoin's Bullish Horizon: $600K by 2026?

Bitcoin Price Predictions: Tuur Demeester, an early Bitcoin evangelist, forecasts a BTC price range of $200,000 to $600,000 by 2026. This prediction is fueled by anticipated global bailouts and stimulus measures, which could inject trillions of dollars into the economy.

Macroeconomic Factors: Demeester emphasizes the impact of macroeconomic factors on Bitcoin's future price. He highlights systemic issues in the U.S. banking system and the government's potential need to provide liquidity, which could drive BTC prices even higher.

Market Sentiment: Despite recent gains, mainstream interest in Bitcoin remains subdued. Demeester believes that the $50,000 price level could be a turning point for retail investor attention. He has a history of accurate predictions, including the 2021 all-time high range of $50,000 to $100,000.

🚀 The recent success of Bitcoin ETFs, accumulating over 704,400 BTC, has significantly impacted the market. With ETF inflows averaging above 10,000 BTC per day, demand is outpacing the daily issuance of 900 BTC, set to halve to 450 BTC soon. This surge in demand, coupled with a price increase to over $51,775, is altering the dynamics of the upcoming Bitcoin halving. Historically, halvings have been challenging for miners, but the current price trend and hashprice dynamics suggest this cycle may be different, potentially allowing more miners to continue operations post-halving.

🔥 Peter Thiel's Founders Fund invested $100 million in BTC below $30K. This marks a strong return after a $1.8 billion pre-crash sell-off. Thiel, a Bitcoin advocate, aims to hedge against central bank policies. The fund, managing over $12 billion, refocuses on crypto amid Bitcoin's recovery.

🔄 MicroStrategy pivots to become a Bitcoin development company. The company will be focusing more on on Bitcoin growth and development. The shift reflects its success with Bitcoin, boasting $3.5 billion in unrealized profit on its Bitcoin holdings. Led by Michael Saylor, the firm aims to accumulate more Bitcoin and enhance the network’s security, marking a significant strategic change.

🚨 New Zealand Central Bank Governor Adrian Orr criticizes Bitcoin. He has gone on record denying its value as a currency and expressing critical concern. The governor highlights the instability of stablecoins and risks to financial infrastructure. Despite global acceptance, Orr advocates cautious regulation of digital currencies.

🇬🇧 New UK rules from the FCA target Bitcoin and crypto-assets. The Financial Conduct Authority have added "positive frictions" such as quizzes on exchanges before you can trade Bitcoin, which has caused backlash. Critics say this goes against Prime Minister Rishi Sunak's plan to make the UK a "crypto hub." Both industry and government figures worry it could hinder innovation and investment.

💰 New Zealand's Reserve Bank Governor jokes about fiat currency. He stated that central banking is a great business model where all you have to do is print money and people just believe in it.

Will Bitcoin hit $100,000 USD in 2024?

👍 Yes - 93.1%

👎 No - 6.9%

👍 Yes - “Demand will grow as more people understand what Bitcoin really is...” - Pat

👍 Yes - “The ETF demand, the halving and institutional deployment by Fidelity into their mutual funds gives BTC at 100k a pretty good chance.” - Chris

👎 No - “Diminishing returns.” - Sam

🤔 President Biden's "laser eyes" meme post has sparked debate in political and Bitcoin circles. While some speculate it may be an endorsement of Bitcoin, others see it as a political play or an attempt to engage younger voters. The significance of the post remains unclear, with varied interpretations from the community.

🚨 SEC Chair Gary Gensler criticized Bitcoin's role in ransomware, despite the agency's approval of 11 Spot Bitcoin ETFs. He maintains his disapproval due to Bitcoin's connection to illicit activities, emphasizing that the ETF approvals do not endorse Bitcoin as an asset. Gensler's stance reflects his enforcement-first approach to Bitcoin regulation.

🎓 FutureBit collaborates with Rutgers University to educate students on Bitcoin through its Higher Ed Pilot Programs. The initiative introduces Bitcoin hardware to academic settings, enabling students to learn about blockchain technology and decentralized networks. This partnership aims to prepare the next generation for a future where decentralized systems are paramount.

A farm is supplying zero-emission fresh fish and shrimp to the market during winter, despite temperatures of -10°C or lower. The farm is using heat recaptured from a Whatsminer Bitcoin mining system.

61 - The number of estimated days left until the 2024 Bitcoin halving. The Bitcoin block reward will drop from 6.25 to 3.125 BTC per block.

711,680 - The number of bitcoins now held by the US Bitcoin ETFs. Overall, 10.2% of all bitcoins are owned by companies, countries and ETFs.

81.73 trillion - The current Bitcoin mining difficulty as of yesterday. With a recent difficulty adjustment of +8.24%, Bitcoin’s mining hash rate is at all-time highs and is showing no signs of slowing down. .