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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 forecasts as bitcoin continues to carve out its place as the leading decentralized digital asset. This month, we focus on several key themes: bitcoin's declining exchange balances, ETF inflows surpassing $5 billion, and bullish price targets that could redefine bitcoin's value over the next 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 gives reason for optimism as bitcoin heads towards new potential highs.
Report Highlights:
- bitcoin On-Chain Analysis: This section examines how declining foreign exchange balances and increasing self-custody reflect an increase in long-term holding sentiment. bitcoin exchange balances hitting new lows indicates growing confidence among investors who are choosing to take control of their own assets rather than leaving them on exchanges.
- bitcoin ETF: More than $5.4 billion in inflows into bitcoin ETFs were recorded in October, with BlackRock's IBIT leading the market. This record-breaking month underscores the growing acceptance of bitcoin in major financial markets, reinforced by the approval of bitcoin ETF options trading. Dr Michael Tabone, economist and professor at the University of the Cumberlands, offers his view on how this surge could play out in the coming months.
- bitcoin Mining Update: Russia and China have quietly expanded their influence in global mining, and the United States still has the largest share of hashrate. crypto Oxygen's Lukas Pfeiffer explains how these changes can reshape global mining dynamics and what it means for the future.
- Price Forecast by Tone Vays: bitcoin analyst Tone Vays remains incredibly bullish on the future price of bitcoin, citing multiple technical indicators and historical patterns. The report details possible price targets ranging between $102,000 and $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 climate continues to favor decentralized assets. According to Long, bitcoin's fundamentals are strong and a bull market could be on the horizon following the 2024 US presidential election.
The report also contains valuable contributions from other experts in the bitcoin ecosystem, including Philip Swift on bitcoin derivatives, Lucas Betschart on regulatory changes, Pete Rizzo on the history of bitcoin, Pascal Hügli with on-chain analysis, Dr. Michael Tabone on stocks and bitcoin ETFs. , Joël Kai Lenz on bitcoin adoption and Patrick Heusser on technical analysis. These contributions provide a comprehensive view of the current state of bitcoin and its future potential.
Get full insights, charts and analysis by accessing the full report now. We invite your organization to explore potential sponsorships or co-publishing opportunities for future issues by contacting Mark Mason at [email protected]. Let's give the orange pill to the world together!
Download and share: This report is freely available to everyone. Download, share and help drive the conversation around bitcoin adoption and education. Use the hashtag #TheBitcoinInforme in your posts to join the movement.
