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Why one expert believes Bitcoin is the best savings technology ever

Published

12 months ago

22 June, 2024

Why one expert believes Bitcoin is the best savings technology ever

Bitcoin (BTC-USD) had a breakthrough year in 2024, recovering from a long crisis due to the Securities and Exchange Commission (SEC) approval of spot bitcoin ETF products. Now, the crypto community is closely watching the SEC’s next pending decision: the approval of an ether spot ETF tied to ethereum futures (ETH-USD).

Raphael Zagury, Chief Investment Officer at Swan Bitcoin, joins Market Domination Overtime to discuss the outlook on these major cryptocurrencies, including what the 2024 US presidential race could mean for the cryptocurrency sector and the likelihood of an ether ETF.

“If you look at where we are right now in terms of volatility, volatility is pretty low. We’re in the 5%, I would say bottom decile in terms of volatility,” Zagury says. “And I think the good news, if the past is any indication of what might happen in the future, is that periods of very low volatility in bitcoin tend to have periods of offside returns, if you look 60, 90 days ahead . But short term, many things can happen in the short term, traders control the price…”

For more expert insights and the latest market action, click Here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcription

The microstrategy goes further with Bitcoin with plans to purchase an additional $786 million in the cryptocurrency.

And while Bitcoin has reaped the benefits from this year’s launch of the Bitcoin ETF spot ETF, cryptocurrency investors are already eyeing the next milestone for the market with the Ethereum spot ETF.

Maybe they should be approved this summer here to discuss in more depth.

Swan Bitcoin, Chief Investment Officer Rafael Zaguri, on top of all that, we were just talking about politics.

There has been a flurry of lobbying activity in Washington regarding the cryptocurrency industry.

That said, we haven’t seen a lot of fireworks on the price action front lately.

Raffaello.

So what should investors look for there?

Yes, thanks for having me, Julie.

It’s great to be here.

I think first of all, when we talk about the double haters, as I was listening to the topic, I think cryptocurrencies are becoming a topic that could influence.

Lots of double haters.

I think a lot of people are unfortunately losing a lot of faith in the system over the last few decades.

And when you have a team like that and we have politicians jumping on one side, maybe they, they’ll move some double haters but going back to the price, which is what you mentioned, the price of Bitcoin has been very stable, I think over the years, in the, you know, if you look at the last month or so, this is nothing new.

The story continues

This has happened in the past.

If you actually look at the price of Bitcoin, the way it moves, it tends to be most of the time, you know, its lateral movements are down.

And then most of the upside is actually captured in very short periods of time, right?

And I always say that’s why it’s an asset that’s very difficult to hold long term.

Uh because most of the time they’re going to endure pain, it’s weeks and months of pain, you know, for glory days, that’s the typical Bitcoin trajectory just goes back to the numbers.

If you look at where we are right now, in terms of volatility, volatility is quite low, 5% I would say the bottom decile in terms of volatility.

And I think the good news, if the past is any indication of what might happen in the future, is that periods of very low volatility in Bitcoin tend to have periods of offside returns if you look 6090 days into the future, right?

But in the short term, a lot can happen in the short term.

Traders control the price.

And I think it’s increasingly important for us to get smaller.

Look, go back to the fundamentals and then think about where Bitcoin could be.

Not in 90 days, 60 days, but in 5, 10 years, because as an asset, this is what we should be thinking about for Bitcoin, I’m interested, Rafael even when you talk to friends and family and they ask you what, why you should own cryptocurrencies here?

I’m interested in, you know, what are the reasons why you tell him?

Because I, I feel like maybe the story has changed, you know, it used to be, I think so, the idealistic Rafael, you know, at least among true believers it was really thought of as this paradigm shift.

Um, I was wondering if you think that’s still the case or if you tell him?

It is a store of value.

It’s a means of exchange.

What are the reasons?

Yes, Josh, you know, I come from traditional finance.

I worked at Golden, I worked at Merrow.

I worked at Deutsche.

I’ve worked at all the big banks and for many years I’ve tried to tell people about Bitcoin and most of them just shy away.

And I think about this a lot because people start, like you said, a lot of them start with many, many exchanges like the first, uh you know, trying to put Bitcoin next to PayPal and other things and other technologies.

But Bitcoin is much bigger than that.

In my perspective.

I think Bitcoin is the best savings technology we have ever seen as economists.

When I look at Bitcoin and you know, a monetary policy written in code, it’s transparent, it’s completely predictable for 15 years without any changes.

Right.

There is not a single central bank in the world that has similar or similar monetary policy to what we have seen in Bitcoin.

And at the end of the day, when we talk about inflation and predictability, what really kills the plans of economic actors is the volatility of inflation.

If we had 2% that would be the central banks’ inflation target, which by definition is already bad.

But let’s say they managed to hit 2% every single month or every single year without any change which would already be bad.

But that’s not what happens.

There’s huge volatility in some months, you know, inflation for the things you buy might be closer to 10% in other months it will be negative and planning around that takes a toll and has an impact on the economy and the long term.

Not only does the money printing continue, but things continue to degrade.

And you know, if you look at a world of total unpredictability that’s what we have and unpredictability increases Bitcoin.

I think it’s a beacon of predictability in a world where you can’t predict pretty much anything.

I don’t think if you looked at a Bitcoin price chart, you would say that it’s a beacon of predictability and that 2% inflation means growth.

So with growth comes inflation, that’s usually how the economy works.

While yes, we had very low inflation before the current regime.

But leaving that aside for a minute, Rafael, I want to go back to something that you mentioned at the beginning when we were talking about politics and talking about the attention that those in the crypto community have kind of focused on this election.

Um, what are you looking for in terms of the biggest policy change that you would support that would help the cryptocurrency industry?

Yeah, I think we’re already seeing if I told people in the past that Bitcoin would become a topic of discussion in the presidential debates, people would say that would be crazy, and they said that this would never happen, you know, this was something that could never have happened and is happening.

It started with, you know, senators talking about Bitcoin, then we had, you know, more people talking about it and now we have Trump coming in and that was a surprise to most people even, you know, to some, some of us had been in Bitcoin for a long time.

Hearing him say, you know, the positive things he’s done.

Um, you know, and as I said at the beginning, I think for people who are very disillusioned with a lot of things that are happening in politics, this could be, you know, a very substantial change.

Uh On top of all that, if you look at, you know, like, uh, the approval of the ETF S, I think it started with a lot of uh uh a lot of these things, uh and the whole process of getting, the ETF Bitcoin approved, you know, that too, I think the AF was hard to overcome.

But the bottom line with all of this is that we’re getting a lot of things that, you know, we’ve been looking for for a long time, which is getting more support, more clarity around, you know, how you should hold Bitcoin, how you can wrap it.

And that’s all good, I think, and I think at the end of the day, even when we’re talking about an Ethereum ETF, I think all, all ETFs should be approved, what the SEC should focus on more and more is what they would have had to focus, I think from the beginning, which is there, you know what they started when we had the Securities Act 3433 and 34.

The overall goal was to provide better transparency, better disclosure, you know, to seekers that really highlighted the risks.

And I think there’s an opportunity here for the SEC to go back to its original mandate and help with that.

But overall, it’s just very nice and positive to see the developments.

I think that, you know, we’re definitely going in the right direction.

Raffaello.

Good to see you.

Thank you for taking the time for us.

Appreciate it.

Thank you.

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We are the editorial team of FinCrypt, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypt, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Block Investors Need More to Assess Crypto Unit’s Earnings Potential, Analysts Say — TradingView News

Published

11 months ago

11 July, 2024

FinCrypt Staff

DeFi Lending Protocol Nexo Allocates $12 Million for Ecosystem Incentives — TradingView News

Block, a payments technology company led by Jack Dorsey square could become a formidable player in the cryptocurrency mining industry, but Wall Street will need details on profit margins to gauge the positive impact of the business on earnings, analysts said.

Block signed its first large-scale cryptocurrency mining hardware pact on Wednesday, agreeing to supply its chips to bitcoin miner Core Scientific CORZbut no financial details were disclosed.

JP Morgan estimates the deal could net Block between $225 million and $300 million, but said more information will be needed to assess the hardware business’s long-term earnings potential.

“We still have a lot to learn in terms of the margins of this business, so we are hesitant to underwrite this transaction until we know more about the cadence and economics,” J.P. Morgan said.

The deal marks a major step for the payments company, which started out as “Square” in 2009 before rebranding in 2021 in a nod to its focus on crypto and blockchain technologies.

Dorsey, who co-founded and ran Twitter (now known as “X”), has long been bullish on Bitcoin. Block began investing 10% of its monthly gross profit from Bitcoin products into Bitcoin in April.

In the first quarter, nearly 9% of the company’s cash, cash equivalents, and marketable securities consisted of bitcoin.

“This development (the deal with Core Scientific) is further evidence of Block’s role as an emerging leader in the crypto hardware ecosystem,” Macquarie analysts Paul Golding and Emma Liang wrote in a note.

Analysts say similar deals to follow could further validate Block’s reputation in the industry.

But J.P. Morgan said the stock’s performance will be determined by Block’s other segments, such as Square and Cash App.

Block shares have lost nearly 17% this year.

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News

This Thursday’s US Consumer Price Index could be a game-changer for cryptocurrencies!

Published

11 months ago

11 July, 2024

FinCrypt Staff

This Thursday's US Consumer Price Index could be a game-changer for cryptocurrencies!

3:30 PM ▪ 4 minute read ▪ by Luc Jose A.

This Thursday, attention will be focused on the United States with the anticipated release of the Consumer Price Index (CPI). This economic indicator could trigger significant movements in the markets, especially for the U.S. dollar and cryptocurrencies. While investors remain vigilant, speculation is rife about the potential impact of these key figures.

The Consumer Price Index: The Cornerstone of the American Economy

The Consumer Price Index (CPI) is a key measure of inflation which reflects changes in the price of goods and services purchased by American households. This index is calculated monthly by the Bureau of Labor Statistics (BLS) and serves as a barometer for the cost of living. The consumer price index covers a wide range of products, including food, clothing, housing, health care, and entertainment. Economists and policy makers closely monitor this data to anticipate economic trends and adjust monetary policies accordingly.

The June CPI data is due to be released this Thursday at 2:30 p.m., and is highly anticipated by investors. The current consensus is for headline annual inflation to decline to 3.1%, from 3.3% the previous month, while core inflation is expected to remain stable at 3.4%.

THE BIGGEST EVENT THIS WEEK 🚨

The U.S. Consumer Price Index is expected to
PUBLICATION TODAY AT 8:30 AM ET.

EXPECTATIONS ARE 3.1% WHILE
LAST MONTH THE CONSUMER PRICE INDEX (CPI) WAS 3.3%

HERE ARE SOME SCENARIOS 👇

1) CPI above 3.1%

THIS WILL BE A DAMAGE TO THE MARKET
GIVEN THAT THE LAST TIME THE CPI DATA… photo.twitter.com/yudjPLPl8g

— Ash Crypto (@Ashcryptoreal) July 11, 2024

Consumer Price Index Release: What Does It Mean for the Dollar and Bitcoin?

Inflation as measured by the consumer price index is a key determinant of the value of the US dollar. If the consumer price index declines more than expected, it could reinforce expectations of a rate cut by the Federal Reserve in September, thus weakening the dollar. A weaker dollar could benefit GBP/USD, which recently broke a major resistance level, and Bitcoin, which could see its price rise due to increased demand from institutional investors.

Current forecasts suggest that headline inflation will decline to 3.1%, with core inflation holding steady at 3.4%. However, a surprise increase in the consumer price index could upset these expectations. Fed Governor Lisa Cook has mentioned the possibility of a soft landing for the economy, with inflation falling without a significant increase in unemployment, which could lead the Fed to consider rate cuts. This outlook is particularly favorable for stock markets and cryptocurrencies, including Bitcoin, which could benefit from a more accommodative monetary policy.

According to experts at 10x Research, especially their CEO Markus Thielen, Bitcoin could see a significant increase if the CPI data confirms a decline in inflation. Thielen indicated that Bitcoin could reach almost $60,000, a prediction that has already been reflected with a rise to $59,350 before the data was released.

Therefore, Thursday’s CPI data could determine the future direction of financial and cryptocurrency markets. High inflation could strengthen the US Dollarwhile a drop in inflation could pave the way for rate cuts by the Fed, thus giving a boost to Bitcoin and other digital assets.

Enhance your Cointribune experience with our Read to Earn program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning rewards.

Click here to join “Read to Earn” and turn your passion for cryptocurrencies into rewards!

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Luke Jose A.

A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I am committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, convey the latest technological innovations and put into perspective the economic and social issues of this ongoing revolution.

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The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.

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News

Crowd Expects Bitcoin Bounce Suggests Further Losses, As RCO Finance Resists Crash

Published

11 months ago

11 July, 2024

FinCrypt Staff

Crowd Expects Bitcoin Bounce Suggests Further Losses, As RCO Finance Resists Crash

Bitcoin is seeing a rebound after its recent price crash to $53,000. Other altcoins are subsequently recovering, with many cryptocurrency investors increasingly making new entries. However, Santiment warned against this hopium, suggesting that Bitcoin could extend its price losses.

As the broader market anticipates Bitcoin’s next price action, RCO Finance (RCOF) demonstrates resilience, attracting thousands of people in influxes. Read on for more details!

RCO Finance challenges the market crisis

RCO Finance (RCOF) is approaching $1 million in funding raised, amid growing interest from institutional traders seeking stability from Bitcoin’s wild price swings. While much of the broader market has seen significant price losses, RCO Finance has remained resilient, experiencing a surge in its pre-sale orders.

As a result, the project seems oblivious to the current market conditions, leading top market experts to take a deep dive into its ecosystem. They identified why RCO Finance was able to withstand the bearish pressure and its potential to hold up even stronger during the impending broader market crash.

The main reason was related to the innovative use of RCO Finance AI Trading Tools as a Robo Advisor. This tool has been integrated into RCO Finance’s cryptocurrency trading platform, offering full automation and highly accurate market forecasts to help investors make informed decisions.

Read on to learn more about this tool and other exciting features of RCO Finance!

Bitcoin Bounces Amid Impending Crash

Bitcoin is bouncing back, rallying 8% after plunging to its lowest point since February on July 5. While this rebound has triggered a bullish wave in the broader market, many cryptocurrency analysts predict it could be short-lived as Bitcoin is poised for an imminent crash toward the $50,000 zone.

On a Post X (formerly Twitter)Santiment revealed that while the crowd is anticipating a Bitcoin rally, this potential crash could trigger FUD and panic, causing average traders to wither and give up on Bitcoin. The platform noted that Bitcoin rally has historically occurred after these weak hands sold their holdings.

In particular, these cryptocurrency analysts speculate that the previous and upcoming Bitcoin crash is largely the result of bearish market psychology, as opposed to large BTC sell-offs by the German government and Mt. Gox. In particular, Ki Young Ju, founder and CEO of CryptoQuant, noticed that “the sales were rather negligible, given the overall liquidity of Bitcoin.”

Enjoy seamless investing on RCO Finance

RCO Finance is making investing easier and easier, democratizing access to high-level tools and cryptocurrency earnings that were once reserved for professional and institutional investors. It has also prioritized accessibility, allowing investors of all levels to easily navigate its features through its intuitive interface.

Additionally, they can also maintain anonymity and privacy as the platform has no KYC requirements. To build trust, the platform has instead emphasized regular smart contract audits by respected security firm SolidProof.

Performance data shows massive adoption, indicating that it is doing its job effectively. Investors can also capitalize on RCO Finance’s fast transaction speeds and incredibly low transaction fees, with leverage options up to 1000x to further optimize their portfolios and maximize returns.

Leverage RCO Finance’s pre-sale earnings

An in-depth analysis of the RCO Finance ecosystem revealed that it has strong potential to rival and surpass major cryptocurrencies in the cryptocurrency industry. With a very limited total token supply and excellent tokenomics, RCO Finance is poised to reach its target of $1 billion in market cap upon its official launch.

RCO Finance has adopted a deflationary model, strategic burn mechanisms, and a vesting schedule. However, the project encourages long-term holding by focusing on sustained growth through incredibly high staking rewards.

RCOF tokens are currently available at an altcoin price of $0.01275 in progress Pre-sale Phase 1. This is likely the lowest price these coins will ever trade at, as they are expected to increase exponentially with each new presale phase.

With RCOF expected to be $0.4 at launch, investors jumping in now can expect a Return 30x on their investment!

For more information on RCO Finance (RCOF) presale:

Visit RCO Finance Pre-sale

Join the RCO Financial Community

Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the reliability, quality and accuracy of any material in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your own research and invest at your own risk.

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News

Bitget Ranks Third Among Cryptocurrency Exchanges by Capital Inflows in Q2

Published

11 months ago

11 July, 2024

FinCrypt Staff

Although Bitget is not the largest cryptocurrency exchange in terms of total volumes, it closed a favorable quarter. From April to June, the platform ranked third in net capital inflows and showed the strongest growth in market share compared to its competitors.

In the second quarter, investors moved $700 million into Bitget, and activity on the platform increased by nearly 50%.

The exchange has seen a surge in user funds, with Bitcoin (BTC), Tether (USDT), and Ethereum (ETH) rising 73%, 80%, and 153%, respectively, in the first six months of the year. This growth coincided with adding 2.9 million new users to the platform.

This has positioned Bitget among the top exchanges with the highest positive net inflows in the last quarter. Only Binance, which remains the market leader, and Bitfinex have performed better in this category.

According to CCData’s latest H2 Outlook Report, the exchange also recorded the highest market share growth among centralized exchanges, increasing 38.4% from H2 2023 to H1 2024.

Bitget’s spot trading volume has also seen a visible increase, going from $28 billion in Q1 to $32 billion in Q2, marking an increase of over 10%. The platform’s monthly visitors have reached 10 million. Although its volumes are increasing, Bitget still does not rank among the top 10 cryptocurrency exchanges in terms of spot trading.

The changes taking place in the centralized cryptocurrency exchange market show that competition is becoming more and more intenseAn example of this is the recent surge in popularity of Bybit, which has become the second largest exchange in terms of spot trading volumes.

Sports Sponsorships and New Products

Gracy Chen, Source: LinkedIn

Gracy Chen, CEO of Bitget, commented on the quarterly performance, saying, “Q2 2024 was a pivotal period for Bitget. Our collaboration with Turkish athletes, along with significant growth in users and website traffic, is part of our global expansion.”

In an effort to expand its global presence, Bitget has partnered with three Turkish national athletes as part of its #MakeItCount campaign, starring Lionel Messi. The deal with the famous footballer It was signed in Februaryto build brand presence in Latin America.

The exchange also launched a $20 million TON Ecosystem Fund in partnership with Foresight Ventures to support early-stage projects on The Open Network.

The exchange introduced two new initial token listing products, PoolX and Pre-market, which collectively launched over 100 projects. Additionally, Bitget’s native token, BGB, was recognized as the best-performing centralized exchange token in June and was ranked among the top 10 cryptocurrencies by Forbes.

In its latest move, the cryptocurrency exchange aimed to become a regulated player in IndiaThe announcement comes as the world’s most populous democracy grapples with the complexities of integrating cryptocurrencies into its financial ecosystem.

Even recently,
Bitget Wallet Announced a joint investment with cryptocurrency investment firm Foresight X in Tomarket, a decentralized trading platform. This initiative targets emerging asset classes and aims to expand the portfolio’s services beyond traditional decentralized exchanges (DEXs).

In the second quarter, investors moved $700 million into Bitget, and activity on the platform increased by nearly 50%.

According to CCData’s latest H2 Outlook Report, the exchange also recorded the highest market share growth among centralized exchanges, increasing 38.4% from H2 2023 to H1 2024.

The changes taking place in the centralized cryptocurrency exchange market show that competition is becoming increasingly intenseAn example of this is the recent surge in popularity of Bybit, which has become the second largest exchange in terms of spot trading volumes.

Sports Sponsorships and New Products

Gracy Chen, Source: LinkedIn

The exchange also launched a $20 million TON Ecosystem Fund in partnership with Foresight Ventures to support early-stage projects on The Open Network.

Source