The week ended in a not so positive way for the crypto market. It happens that global uncertainty due to the conflicts in the Middle East and the elections in the United States, They pressure Bitcoin, which seeks to close the week in green after losing a key value and showing critical resistance at US$69,000, value that has not been touched since June.
The largest cryptocurrency by market capitalization records a weekly drop of 3%, to be located below the US$67,000, while Ethreum closes in the red, but above the value of US$2,400. Solana, meanwhile, had a positive week and accumulated an increase of more than 6%, while other altcoins like Aválanche (-11.5%) and Cardano (-7.1%) close lower.
Bitcoin could become a commonly used currency by 2030
Among the most relevant news in the crypto industry this week was the prediction from the CEO of CryptoQuant, the on-chain data analysis firm. Ki Young Ju, CEO of the company, hinted that Bitcoin (BTC) could become a global currency by 2030, with Satoshi Nakamoto’s dream of a decentralized, peer-to-peer payments system likely to materialize even before then. reported a report of Goodbit.
Ju described how Bitcoin could evolve from a speculative asset to a low-volatility currency by 2030. This outlook comes from the significant changes in Bitcoin mining since its early days. Historically, Bitcoin’s volatility has hampered its use in transactions, with businesses and consumers reluctant to use an asset that fluctuates significantly in value. However, Ju believes this volatility is gradually decreasing as the Bitcoin ecosystem continues to mature.
For the expert crypto strategist, a more stable and maturing Bitcoin market could soon see the cryptocurrency move towards widespread adoption.
Does Donald Trump win Bitcoin at $92,000?
Jeff Park, head of alpha strategies at Bitwise, a digital asset management firm, predicted that Bitcoin could reach $92,000 if Donald Trump wins the US presidential election in 2024. The expert analyzed the price of Bitcoin in relation to Trump’s odds on the Polymarket betting platform, suggesting a strong post-election increase, the Buenbit report indicated.
Their analysis concluded that the crypto community shows great interest in the elections, as Trump promises to turn the US into the “crypto capital of the world” and change the regulation of digital assets. Bitcoin millionaire Erik Finman shares Park’s optimism, suggesting that Bitcoin could even reach $100,000 under a Trump presidency.
From BuenBit we accompany the optimistic view, regardless of who wins the elections for Bitcoin in the long term. That is why we consider that the current price of Bitcoin represents a good entry opportunity.
Crypto dollar
Crypto exchanges offer the possibility of dollarizing your dollar income 24/7 via crypto and without commissions. “It is simple, very fast and you can instantly withdraw it from your bank. With this option you can operate 24 hours a day and on weekends, which gives you an advantage over the MEP dollar. This week the crypto dollar appreciated, in line with other exchange rates”, they said from Buenbit.
The price for the crypto dollar in Buenbit this Friday is around $1,180, much cheaper than the blue that rose to $1,225. Also, remember that for those who choose to invest in stablecoins, Buenbit offers the most competitive rates of return on the market. Additionally, those who participate in the exchange’s loyalty program can access even more attractive rates, boosting their savings significantly. For example, the current yield of USDC is 5.5% per year, with loyalty it can reach up to 9.5%. USDT is 4% annually, with the program it goes up to 8%.
Source: Ambito
