BTC Above $90K and Still Climbing!!
13.11.2024 Bitwise Predicts $500K Bitcoin as Investors Shift from Gold to Digital Assets
Crypto Report
November 13, 2024
DAILY MARKET OVERVIEW
Bitcoin’s Race to $100K and Pepe’s Leap
👋 Hey Crypto Enthusiasts! Bitcoin’s record highs and bold price projections are catching everyone’s attention, while Pepe also makes headlines. Let’s dive in!
🚀 Bitcoin’s Ascent: $90K and Beyond!!!
Bitcoin reached a new high of over $90,000 this week, setting a record not only in price but also in single-day gains, with an $8,343 jump on Monday alone. Analysts say that as long as the "Trump Trade" effect continues, the rally has room to run.
Bitwise CIO Matt Hougan has set bold targets, predicting Bitcoin will reach $100,000 by year’s end and possibly $200,000 by 2025.
In the long term, Hougan sees Bitcoin reaching $500,000, marking the point at which Bitcoin would mature as a recognized store of value alongside assets like gold.
Analysts highlight a shift in capital from gold to Bitcoin, noting that even a 1% reallocation from gold could push Bitcoin’s price toward $100,000. With the crypto market cap now above $3.1 trillion and Bitcoin’s growing appeal as “digital gold,” the rally looks very strong.
📈 Memecoin Rally: Pepe Soars on Robinhood and Coinbase Listings
🐸 Pepe is leading a fresh memecoin rally, spiking 40% after its debut listing on Robinhood and an upcoming addition to Coinbase.
Robinhood also relisted Solana, Cardano, and XRP, which had previously been removed due to regulatory concerns. The news triggered excitement among investors, with memecoin enthusiasts flocking to Pepe as its weekly gains topped 100%.
Coinbase’s Chief Legal Officer, Paul Grewal, teased Pepe’s listing on social media, adding fuel to the memecoin hype. This renewed interest in memecoins highlights their growing appeal among retail traders and demonstrates their strong mindshare.
Crypto’s momentum is undeniable: Bitcoin’s record highs and memecoin rallies reflect a rapidly evolving market. With growing adoption and major capital inflows, the future for digital assets looks bright.
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SOCIAL SENTIMENT
Memecoin Rally Goes Wild!
With Pepe now listed on Robinhood and Coinbase and Elon Musk hyping Department of Government Efficiency (D.O.G.E) (complete with a recent post of a Doge), memecoin mania is hitting new peaks.
DOGE, Pepe, PNUT, and D.O.G.E on Ethereum have been the most popular memecoins recently, each seeing massive growth.
But where’s the next big memecoin trend?
Our eyes are on Coinbase’s Base chain, where memecoins are still reasonably priced compared to Solana and Ethereum. AI-generated tokens are emerging as a trend there, with LUM and CLANKER leading the pack.
Base could be the next big frontier for memecoins, so keep your eye on there.
NEWS OVERVIEW
The Latest Crypto Headlines 📰
Revolut Expands Crypto Trading Across Europe
Revolut brings its crypto trading platform to all 30 EEA countries, allowing access to over 200 digital assets for European traders.
BlackRock’s BUIDL Fund Goes Multi-Chain
BlackRock’s BUIDL tokenized fund expands from Ethereum to five additional blockchains, increasing accessibility for digital asset users.
Bitwise Acquires Ethereum Staking Firm Attestant
Bitwise boosts its assets by acquiring Attestant, gaining $4 billion in staked Ethereum while expanding non-custodial staking for institutions.
South Korea Arrests 215 in Massive Crypto Fraud
South Korea arrests 215 individuals in a $232M crypto scam; authorities seize assets and detain 12 masterminds, including a well-known YouTuber.
YOUTUBE INFLUENCER SUMMARY 📷️
Lark Davis - Are You Too Late To Buy DOGECOIN? (13.11.2024 Summary)
Lark Davis assures that it’s not too late to invest in Dogecoin, which has recently surged but may still have room to grow.
Dogecoin’s history shows high volatility, with significant peaks and corrections, so caution is advised. Currently priced around $0.45, it faces major resistance, with targets at $0.72 and up to $3 if the rally continues.
However, Lark cautions that Dogecoin’s large market cap may prevent the explosive returns of previous cycles.
He suggests considering smaller meme coins with better risk-reward potential, such as Solana’s popular WIF token, which could yield higher returns. Although Dogecoin’s upside may be limited, it still holds potential, especially with mainstream listings on platforms like Coinbase and Robinhood.
Lark concludes that while Dogecoin offers decent gains, smaller meme coins might be a more strategic play in the current market cycle.
BecauseBitcoin - Why altcoins are about to go crazy! (13.11.2024 Summary)
Max from BB explains why altcoins are on the verge of a significant rally, debunking the notion that we’re nearing a cycle top.
He notes that Bitcoin’s current position in price discovery typically signals the start of an “alt season,” where altcoins outperform Bitcoin.
By analyzing previous cycles, Max shows that Bitcoin’s price breakout historically leads to major gains in altcoins, with Ethereum and smaller altcoins often rallying for up to a year following Bitcoin’s peak.
Indicators support this, suggesting that Bitcoin hasn’t reached its peak yet. Max believes Bitcoin could rally further, potentially up to 160k, which would fuel even greater gains in the altcoin market.
His message: it’s time to position in altcoins, as Bitcoin’s signal opens the gates for a broader market rally, driving significant gains across the crypto space.
The information provided in this newsletter is for general informational and educational purposes only. It should not be considered financial advice or a recommendation to buy or sell. Please consult a qualified financial advisor for personalized advice that considers your individual financial situation and goals.