China News Daily TheBitTimes.com

Despite current bearish sentiment, experts see Bitcoin’s (BTC) short-term crash as a temporary setback, with the asset poised for further gains. With Bitcoin nearing the $110,000 support level, analysts believe it could be headed for a blow-off top, a rapid, steep price surge driven by frenzied buying, typically followed by a sharp correction. Specifically, in an X post on October 11, Glassnode co-founders Jan Happel and Yann Alleman, who use the pseudonym Negentropic , noted that the flash crash highlights Bitcoin’s resilience.  Their outlook pointed to a short-term breakdown at $118,000 but emphasized that this event is only a temporary bump in the road. They predict that volatility will persist over the coming days, but prices are likely to climb higher by the end of the month. This flash crash creates an even stronger case for a blow off top. If you look at $btc it has just proven its resilience. This is a prelude to the correction that we will get when the ...

An analyst who accurately called the Bitcoin top last cycle believes BTC is gearing up for new rallies toward the end of the year. Pseudonymous analyst Dave the Wave tells his 152,500 followers on the social media platform X that Bitcoin appears to be grinding higher within an ascending channel on the daily chart en route to its all-time highs above $124,000. “Range setting up for BTC fireworks 4th quarter…” Source: Dave the Wave/X Zooming in, Dave the Wave says Bitcoin has managed to take out its near-term diagonal and horizontal resistances after bouncing from $106,000 last month. “BTC shorter-term price action looking promising with two resistances broken to the upside…” Source: Dave the Wave/X The analyst had predicted that Bitcoin would surge to a price tag of $180,000 by the end of the year. At time of writing, Bitcoin is trading for $115,286. Turning to the altcoin market, Dave the Wave says he’s keeping a clos...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Justin Bons, founder of Cyber Capital, a cryptocurrency investment firm, has warned that the chances of Bitcoin (BTC) collapsing in the coming years remain high.  Bons pointed to diminishing block rewards, which are set to fall to 0.39 Bitcoin by 2036 under the current halving schedule.  At today’s prices, this would translate to an annual security budget of roughly $2.3 billion, an amount he deems insufficient to protect a network with a potential market cap in the trillions, he said in an X post on August 17. This decline, he argued, could make it economically feasible for attackers to launch 51% attacks, enabling them to manipulate transactions and undermine trust in the system. The cryptocurrency researcher also highlighted the limitations of Bitcoin’s current governance structure. He contends that the Bitcoin Core development team, which controls key updates, has resisted increasing block sizes or allowing inflation beyond the 21 million coin cap. ...