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 predictions as Bitcoin continues to solidify its position as the leading decentralized digital asset. This month we’re focusing on several key topics: declining Bitcoin exchange balances, ETF inflows rising above $5B, 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 Ton Weiss, whose exclusive price forecasts provide reasons for optimism as Bitcoin heads toward potential new highs.
Most prominent reports:
- Bitcoin chain analysis: This section examines how declining exchange balances and rising self-custodialism reflect an increase in long-term holding sentiment. As Bitcoin exchange balances reach new lows, it signals increasing confidence among investors who are choosing to take control of their own assets rather than leaving them on exchanges.
- Bitcoin ETFsOctober saw over $5.4 billion in inflows into Bitcoin ETFs, with BlackRock’s IBIT leading the market. This record month underscores the growing acceptance of Bitcoin in major financial markets, fueled by the approval of options trading on Bitcoin ETFs. Dr Michael Tabone, economist and professor at the University of the Cumberlands, offers his view on how this increase will play out in the coming months.
- Bitcoin mining update: Russia and China have quietly expanded their influence in global mining, with the United States continuing to hold the largest share of hashes. Crypto Oxygen’s Lucas Pfeiffer explains how these shifts could reshape global mining dynamics and what this means for the future.
- Price forecast by Tone Vays: Bitcoin analyst Tone Vays remains incredibly optimistic about Bitcoin’s future price, citing multiple technical indicators and historical patterns. The report details potential price targets ranging from $102,000 to $140,000 by mid-2025, supported by bullish technical analysis such as Fibonacci extensions and the 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 there could be a bull market on the horizon after 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 Bechart on regulatory changes, Pete Rizzo on the history of Bitcoin, Pascal Huguely with on-chain analysis, and Dr. Michael Tabon on Bitcoin stocks and investment funds. Traded. Joel Kay Lenz talks about Bitcoin adoption, and Patrick Houser talks about technical analysis. These contributions provide a comprehensive look at the current state of Bitcoin and its future potential.
Get the full insights, charts and analysis by accessing the full report now. We invite your organization to explore potential sponsorship or co-publishing opportunities for future issues by contacting Mark Mason at mark.mason@btcmedia.org. Let’s take the world together as an orange pill!
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