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Professor Mende - Bonuz Ecosystem Founder
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🚨 Is Bitcoin About to CRASH Again? Indicators Suggest Caution Bitcoin's struggle to break the $70,000 barrier may signal an upcoming price correction. After reaching a 12-week high of $69,487 on Oct. 21, Bitcoin has already seen a 3.7% dip in just three days, and multiple on-chain and technical indicators are hinting at the possibility of a deeper pullback. Profit-Taking Fears With 92.4% of Bitcoin holders now in profit, the risk of profit-taking has increased. Historically, when a majority of holders are in the green, markets tend to overheat, leading to sell-offs. If BTC’s price stays above $55,000, over 90% of investors will still be in profit. This could potentially lead to further downward pressure as investors lock in gains. Open Interest Hits Record Highs Bitcoin’s open interest (OI), which tracks the number of active futures contracts, recently set an all-time high, exceeding $40 billion on Oct. 21. High OI often indicates increased leverage in the market, raising the risk of volatility. A similar spike in OI preceded Bitcoin’s 20% drop in August, suggesting that BTC may be poised for another sharp correction. Retrace from Overbought Conditions Bitcoin’s Relative Strength Index (RSI) reached overbought levels of 70 on Oct. 20, triggering a pullback to $66,000. This pattern echoes past market tops in 2021 and 2019, where similar RSI readings led to significant price corrections. Fear & Greed: Signaling Caution The Crypto Fear & Greed Index sits at 72, reflecting "greed" in the market. This high level of sentiment often precedes market downturns. The last time the index reached these levels in March, Bitcoin fell from its all-time high to $56,500. The Bottom Line While Bitcoin's rally has excited bulls, caution is warranted. The combination of high OI, overbought conditions, and profit-taking signals could lead to a price retracement similar to previous market cycles. Stay updated with @Professor Mende - Bonuz Ecosystem Founder ! #BitcoinPrice #CryptoMarketNews #Bitcoin #BTC #PriceAnalysis $BTC
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🌎 Bitcoin Could Become Global Currency by 2030 — Institutional Mining May Pave the Way With Bitcoin mining difficulty skyrocketing 378% over the past three years, CryptoQuant CEO Ki Young Ju believes we may be witnessing the groundwork for Bitcoin’s transformation into a global currency by 2030. As large-scale institutional players ramp up mining operations, the rising competition is driving smaller miners out, but Ju sees this institutionalization as a key to stabilizing Bitcoin’s historically volatile market. Stability Through Institutional Power While some fear centralization of mining, Ju suggests it could actually reduce volatility. The more institutions get involved, the less speculative and more stable BTC could become. He predicts by 2028, the narrative will shift, and serious discussions about using Bitcoin as currency will emerge, driven by institutional confidence. Adoption is Building Ju’s outlook is supported by the rise of Layer-2 solutions like the Lightning Network, which, though slow in adoption, could scale Bitcoin for everyday use. However, Wrapped Bitcoin (WBTC) has gained momentum, seamlessly integrating BTC into ecosystems without L2 complexities. For either solution to succeed, institutional backing will be key, according to Ju. Price Stability is Crucial Bitcoin’s price is hovering around the $67,000 mark, a critical level according to analysts like Keith Alan, co-founder of Material Indicators. If BTC can hold above $65,000, without wild price swings, we could be looking at a long-term bullish trend, potentially retesting all-time highs by year’s end. 2028 and Beyond As we head into the next Bitcoin halving in 2028, institutional influence might not just stabilize BTC—it could legitimize it as a currency on a global scale. If Ju’s forecast holds, Bitcoin might finally shed its speculative image and become the digital currency many believe it was destined to be.
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📈 Trump Victory Could Catapult Bitcoin to $92K! Bitwise’s head of alpha strategies, Jeff Park, made a bold prediction—Bitcoin could soar to $92,000 if Donald Trump wins the U.S. presidency in November. In an Oct. 22 X post, Park applied “merger arb-style probability math” to Bitcoin’s price charted against Trump’s odds on the decentralized betting platform Polymarket. His analysis suggests a Trump win could trigger a massive BTC rally. Park isn’t the only one making bullish forecasts. Crypto millionaire Erik Finman also predicted that a Trump victory could push Bitcoin as high as $100,000, citing Trump's pro-crypto stance. Trump has promised to make the U.S. the "crypto capital of the world" and vowed to fire SEC Chair Gary Gensler on day one of his presidency, which has excited crypto investors and voters alike. However, not everyone is convinced. Billionaire investor Mark Cuban, backing Kamala Harris, warned that a Trump win may only cause a short-term pump in the crypto market, followed by a downturn. Cuban highlighted Trump’s economic policies, particularly import tariffs, as inflationary and potentially harmful to Bitcoin in the long run. As the election approaches, national polls show Harris with a slight lead over Trump. Yet, betting markets tell a different story, with Trump leading Harris by 18.8% on Polymarket. While Trump’s crypto-friendly policies have many excited, it's clear that the November election could be a pivotal moment for the future of Bitcoin and the entire crypto space. Will BTC hit $92K? Only time will tell. Follow @Professor Mende - Bonuz Ecosystem Founder to stay updated! #Election2024 #Trump #Harris #DonaldTrump #KamalaHarris $BTC
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Habibis! Catch me during the October Blockchain Events in Dubai 🇦🇪 ✨✨✨🚀💫 Bonuz launched the IOS and Android App on 15th October. Download now: Social Smart Wallet I will be around these events: ABC Conclave Future Blockchain Summit Cosmoverse Blockchain Life Forum Binance Blockchain Week #Web3 #bonuzrevolution #selftcustody #BinanceSquareFamily #BinanceBlockchainWeek
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