hopium (hopium) news

"We are so back", "LFG", "Up only": Bitcoin Recorded The New ATH At 69K

The crypto market already showed recovery signs in 2023 and finally, the moment we have all been waiting for has come: Bitcoin broke its all-time high at US$69,170. The Bull Parade In July 2023, Bitcoin climbed to US$30,000 on hopium for a spot Bitcoin ETF by the world's biggest asset manager BlackRock, who clearly must 'have known' something at that time. Then came Grayscale's court win against the SEC. The fight over Grayscale Bitcoin Trust's conversion into a spot Bitcoin ETF paved the way for Wall Street to wholeheartedly embrace crypto. Since Bitcoin has a limited supply and is indeedy-o one true decentralised asset, more investors adding Bitcoin to their portfolios must drive prices of the biggest crypto higher. After the launch of 11 spot Bitcoin ETFs in the U.S. in January 2024, Bitcoin soared to US$48,000 - levels last seen in January 2022, receded to below US$40K, then smashed US$50K in February 2024. BlackRock's IBIT, the biggest spot ETF since the beginning, saw US$2.8 billion in net flow in January and US$3 billion in February, highlighting institutional investors' growing interest for an asset long deemed 'too volatile'. Considering Bitcoin dominance on the crypto market and the correlation between Bitcoin and Ethereum, we can expect ETH prices to rise as well. Technically, there is the Ethereum Dencun upgrade taking place and, on top of that, the Bitcoin halving approaching; we are also seeing new applications for a spot Ethereum ETF and leveraged spot Bitcoin ETF, which signifies new waves of investors to come. All the reasons above contributed to Ethereum hitting US$3,800 and Bitcoin US$69,170 yesterday. The last Bitcoin ATH was recorded on November 10, 2021 at US$68,789, which occurred only after the third Bitcoin halving in May 2020. Based on the latest inflation data, US$68,789 in November 2021 would be equal to US$76,329 in January 2024, and it's our first cue to know that there should definitely be at least another Bitcoin ATH in 2024. Source: CPI Inflation Calculator - U.S. Bureau of Labour Statistics "We Are So Early" The premise for new Bitcoin all-time highs had always been the Bitcoin halving, which happens every four years to limit the number of Bitcoin to be mined for inflation control. Bitcoin just broke this rule on March 05, 2024 when it rose above US$69K before the next halving event in April 2024. Looking at spot Bitcoin ETF volume in the last 24H, we have every reason to believe in every single statement shown in the title, plus "we are so early". Early because there's the Bitcoin halving to look forward to, early because the actual Bitcoin supply will never reach 21 million (due to lost wallets), and early because its market cap is still way behind that of gold - the official store of value for now. Source: companiesmarketcap.com Never think that you're late to the party and FOMO buy. There're many ways to benefit from the cryptocurrency markets, and several entry points to choose from. Do you want to get access the traditional way (crypto ETFs and ETPs, mining stocks, crypto stocks, etc.), the easy and reliable way (via CEXs such as Bitget ), or the crypto way (via Web3 wallets and DEXs)? Decide on the starting point then define who you are in the digital space, a trader, a speculator or an investor and how big of a risk you would rather accept (risk appetite). Learn about DYOR (do your own research), keep yourself updated throughout the day, and get yourself familiar with all the trading and investment products available for profit maximisation. We're only 65 days into 2024 and around 15 years since the inception of Bitcoin. The market is yet to mature. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitget Hot Takes (January 15 - January 21, 2024) - Market Updates

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here. Central Themes • All 11 spot Bitcoin ETFs lost 10-20% in prices since their launch after 7 consecutive red days. • Grayscale Bitcoin Trust is the only fund with a negative net flow; the total net flow of spot and futures Bitcoin ETFs amounts to US$450 million in W3 2024. • The global crypto market cap lost 3.2% by the end of January 21; greed stamina has been dissipating. • BTC receded to a new low of US$39,450 on Monday. Week 3: The Moon Is Waning As we explained before, after spot Bitcoin ETFs in the U.S. there's supposed to be chaos. Bitcoin prices went from nearly US$49,000 on January 11 after the long-awaited ETF approval to US$41,500 at the end of Sunday (January 21), which is equivalent to a loss of US$7,400 or 15%. First off, let's greet our new friends with the warmest welcome: this is crypto, where Bitcoin prices oftentimes drop after you grab some. Recall the last time you opened your phone and FOMO bought Bitcoin because of ETF approval rumours? The momentum kept going up until the actual launch; it's now time for active investors to realise their profits a.k.a. ditch BTC for gains. They can be short-term traders who executed their 'buy the rumour, sell the news' strategy with perfect timing or BTC holders who want to scoop some quick profits. The thing is, many, especially new retail traders, have problems regulating their emotions and tend to place buy orders in fear of missing a life-changing opportunity, and thereby creating the demand for a particular group of profit-seekers to unload their holdings. And the magnitude of this collective selling act is usually so great that it impacts Bitcoin in a negative way that causes panic and further brings down prices. A prime example of that is the recent GBTC dumping, which is covered here: Understanding the Recent GBTC Sell-Off: Causes and Impacts on Bitcoin Price. Does this downward spiral mean the end of Bitcoin and crypto as a whole? There're some factors to consider: despite the Bitcoin price plunging, total net flow last week into 11 spot Bitcoin ETFs still amounts to US$363,643,000 and US$85,470,000 into the three biggest futures ETFs (BITO, BITI, BITX), and the fee war between spot Bitcoin ETFs. No matter before or after its conversion to a spot Bitcoin ETF, Grayscale Bitcoin Trust is well-known for its hefty management fees. It's therefore justifiable to interpret the exodus of GBTC investors as the relocation of capital into other funds. However, the damage is done: Bitcoin fell to its lowest levels since early December 2023, net flow into spot ETFs decreased by almost 50%, all spot ETF prices saw red for seven consecutive days, the combined volume of all spot ETFs from January 16 - January 19 is only slightly higher than that of the first two days and the volume of all crypto stocks declined by more than half, the average bleeding rate of miners is 12.5%. We're no longer in a phase of intense Greed - the market sentiment is now back to Neutral at 55/100. The new narratives that serve as hopium for the upcoming months are spot Ethereum ETFs, Bitcoin halving, options on spot Bitcoin ETFs, and leveraged spot Bitcoin ETFs. Again, don't forget that FOMO is never a friend of any trader/investor. Here are some of our guides on how to avoid emotional trading: The Trap Of Trading Temptations | Dealing With Temptations | Master Trading Psychology: Stick to Your Personal Ideal Prices to Maximize Profit and Minimize Loss | Master Trading Psychology: Navigate Loss and Profit Setting The Tone: Monday Performance Bitcoin prices continued to slide from US$41,546 at Sunday's closing time to hit a two-month low of US$$39,450 on Monday (January 22), reflecting a decrease from 55 to 50 in market sentiment. As a result, the global market cap lost another 4.1% in value to stand at US$1.63 trillion when Monday closed and almost all crypto stocks saw red, except for Coinbase (COIN), ProShares Short Bitcoin Strategy ETF (BITI), and the majority of Bitcoin mining stocks. It doesn't look like we can benefit from the recent tech stock rally, hence make sure to tie up loose ends of your strategy and be the diamond hands we have always been since the beginning. New Events 2-week offer: Zero fees on credit/debit card crypto purchases Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass! Bitget Trading Showdown: Trade Big, Win Bigger – Share 10,000 USDT Deposit to List: MeconCash (MCH) - Deposit and Share 588,235 MCH Rewards! Deposit to List: ArchLoot (ALT) - Deposit and Share 36,630 ALT Rewards! Trade and make net deposits in CandyBomb to earn AMU Trade and make net deposits in CandyBomb to earn PONKE Trade and make net deposits in CandyBomb to earn AVAV Captain Tsubasa (TSUGT) will be listed on Bitget. Come and grab a share of $27,000 worth of TSUGT! Vyvo Coin(VSC) will be listed on Bitget. Come and grab a share of 110,000 VSC! Baby Dragon (BABYDRAGON) will be listed on Bitget. Come and grab a share of 3,800,000,000,000,000 BABYDRAGON! GameGPT (DUEL) will be listed on Bitget. Come and grab a share of 140,000 DUEL ! LeisureMeta (LM) will be listed on Bitget. Come and grab a share of 1,625,000 LM! 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Deposit Trade MANTA, Share $10,000 worth of MANTA Join OORT Net Buy Campaign, share $10,000 worth of OORT! Complete Your First Deposit and Trade with AVAV, Share $10,000 worth of AVAV Join Bitget x Amulet Community Campaign Now to Claim Your Special $6,300 AMU Rewards! Join Bitget x TSUGT Community Campaign Now to Claim Your Special $5,000 TSUGT Rewards! Good Reads Bitget Card: Unlocking the World of Crypto Bitget Card: An Ultimate Tutorial Trade Any Token, Anywhere: Bitget Spot P2P Market The Resurgence of NFTs: A Glimpse into the Potential Growth of NFT in 2024 All You Need To Know About Ethereum Dencun Upgrade Understanding the Recent GBTC Sell-Off: Causes and Impacts on Bitcoin Price BabyDragon (BABYDRAGON): The Symbol of Power, Security, and Future Success in Crypto TSUGT: When Crypto Meets Manga Football Simply create an account, and start exploring the incredible Bitget-Verse today!

Reasons To Look Forward To Spot Bitcoin ETF Approvals In The US

You're probably overwhelmed with the term ETFs and may even think things like 'gosh another ETF nonsense' - yes we hear you and we understand. Consider this your one and only guide to the spot Bitcoin ETFs hype; this will be short and sweet, you have our words. Hype, Anticipation, Hopium - All The Same We already have a few spot Bitcoin ETFs approved in other jurisdictions: six in Canada, with the biggest one being Purpose Bitcoin ETF (BTCC), five in Jersey, three in Guernsey, two in Germany/Switzerland/Brazil, one in Liechtenstein/Australia. That is four countries from the G20 and four tax havens. Should another spot Bitcoin ETF approved in the U.S., Bitcoin prices will most likely soar because: (1) It means at least US$10 billion will be pouring into Bitcoin - the flagship cryptocurrency of crypto with a dominance of 40%++ in this space. We are talking financial giants, pension funds, and even companies who will soon consider adding Bitcoin (via spot Bitcoin ETFs) to their 401(k) plans; (2) One major financial market finally recognises Bitcoin as part of the mainstream financial system; (3) One more step towards clearer crypto regulation in the U.S., a major jurisdiction. The direct impact of number (1) is greater trading volume, which will lead to better liquidity, stabler prices and eventually the determination of Bitcoin's fair value. Meanwhile, we can expect boosted confidence for both institutional and individual investors with (2) and (3). Of course, it'll result in more capital flowing into Bitcoin and the crypto market in general; please return to the impact of number (1) to see what this means. Now you get why 'spot Bitcoin ETFs' have been the talk of the town from 2023 going into new year 2024. If You Are An Individual Crypto Investor Even if you are an individual crypto investor that is not U.S.-based, all three points mentioned above will still serve you in short-, mid- and long-term. With the likelihood of an ETF approval as early as next week, and the fourth Bitcoin halving in April on top of that, we have every reason to bet on a Bitcoin price breakout. Just one year ago, we were doomed with US$16K Bitcoin - now we're already crossed US$45K. Nearly 200% in one year? Not one TradFi asset can offer a number close to it. Don't forget that Bitcoin has a limited supply. And so in mid- and long-term's worst case scenario where prices begin to stabilise and stricter regulations are coming, it's still possible that Bitcoin's fair value will end up well above US$50K. Where is our less-than-US$50K-Bitcoin gang? The excitement around spot Bitcoin ETF approvals in the U.S. brings about golden opportunities for institutions and individuals alike, regardless of their location and capital availability. We could be wary of the risks stemming from Bitcoin's high volatility even after all of this, but remember that when the news drops, 'big' and 'smart' money will share those risks with us as well, meaning this ship can't and won't sink. That in and of itself is enough for a big celebration! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitcoin Halving: Will We Land on the Moon?

As the next Bitcoin halving is drawing near, we have every reason to tell each other 'LFG'. But how long and how far does it take to go to da moon? In Digital Gold We Trust Similar to gold, Bitcoin has a limited supply (capped at 21 million) and can very well be utilised as a hedge against inflation due to its decentralised i.e. untouchable nature, low correlation with traditional assets, and a much higher level of accessibility: anyone can buy and hold any fraction of Bitcoin, at anytime, from anywhere. The biggest 'flaws' of Bitcoin must be its notoriously high volatility and a barren ecosystem. Unlike Ethereum, which fuels innovations in DeFi, GameFi, SoFi, LSDs, RWAs, NFTs, and pretty much everything you can think of, Bitcoin was originally created as a 'purely peer-to-peer version of electronic cash ' and thus doesn't support the development of too complicated dApps. However, the majority of us see and actually invest in Bitcoin as a store of value rather than a new type of asset. The chart below shows Bitcoin volatility compared to the NASDAQ Composite Index (COMP) and the SP 500 Index (SPX). Clearly, it swings back and forth in insane magnitude, but do you remember how people used to laugh at Bitcoin back then? A guy once traded 10,000 Bitcoin for two pizzas, and now we are at US$40K a coin. Still in its infancy whilst others' markets have well matured, Bitcoin is expected to be volatile. And in this very volatility lies marvellous opportunities. 2022 was a year we all want to forget - the bear market began and Bitcoin fell to as low as US$15,508 after nearing US$69,000 in November 2021, but, as K33 Research has pointed out, it seems that the bears didn't stay that long. Source: K33 Research on Twitter As of December 12, 2023 , Bitcoin's year-to-date return is 147.5% and the first-ever Bitcoin ordinal collection is available for bid on the online platform of the 279-year-old auction house Sotheby's through December 13, 2023 . And there are 13 spot Bitcoin ETF filings on the SEC's table - we'll get there shortly in the next part. Overall, 2023 is way better than expected, and 2024 is set to be even stronger, especially with the 4th Bitcoin halving happening. Bitcoin halving is an event that takes place every four years where block rewards are cut in half, meaning new Bitcoins to be mined will be reduced by 50%. Satoshi designed it so that Bitcoin miners received 50 Bitcoin per block in 2009, 25 after the first halving in 2012, 12.5 after the second in 2016, 6.25 after the third in 2020, 3.125 after the fourth in 2024 and so on. The idea behind halving is to keep Bitcoin inflation in check and avoid selling pressure from miners. In short, Bitcoin halving is most likely to affect Bitcoin prices in a positive way. Everybody Now Wants A Piece Of The Pie One main reason for Bitcoin's soaring to US$40K this year is because TradFi is hungry for Bitcoin. We've got futures Bitcoin ETFs, with the biggest ones being ProShares Bitcoin Strategy ETF (BITO) and ProShares Short Bitcoin Strategy ETF (BITI), mining stocks (RIOT, MARA, CAN, HUT, CIFR for example), Coinbase and pro-Bitcoin firm MicroStrategy stocks (COIN and MSTR), then the first leveraged Bitcoin ETF in the U.S. (BITX), yet Wall Streets is still waiting for greenlight from the SEC to really get in. The number of SEC filings that mentioned the term 'Bitcoin' went from 0 in 2012 to 167 in 2016, and 1421 in 2020 before skyrocketing in 2021-23. Larry Fink going from 'Bitcoin is an index of money laundering' to 'Bitcoin is an open, verifiable and stateless currency' must be among the most clear-cut evidence of institutional demand for Bitcoin. The performance of all mentioned stocks is updated on a weekly basis in our Bitget Hot Takes Series , together with a summary of the crypto market and the biggest news of the week. We know that Bitcoin is already up by almost 150% YTD, and 3,158 times from the start of 2013, leaving all other assets behind in terms of performance. Now, as the emerging store of value, Bitcoin can be added to investment portfolios for the sake of better risk diversification. When we compare a portfolio of 100% COMP with 100% SPX, we see that COMP easily outperforms SPX as NASDAQ is tech-heavy (and tech is the new oil). But then we hypothetically allocate as little as 3% to Bitcoin, 97% to SP 500 and returns are on par with 100% COMP. At 10% Bitcoin and 90% SPX, the portfolio would even beat a portfolio of 95% COMP - and COMP is, historically speaking, normally the most profitable out of the big three (Dow, SP 500 and NASDAQ Composite). Bitcoin is not subject to (fiat currency) inflation and can't be manipulated, hence it has become the new obsession of all investor types. Although Bitcoin has long been loved by advocates of decentralisation and financial freedom, the institutional Bitcoin fever will, in time, spread to main streets and eventually bring Satoshi's ideology to many more people. Take Some Hopium With Bitcoin halving as the key premise for the next bull run, let's do some forecasting. Two things to be observed here: • The time needed for Bitcoin prices to achieve a new high is longer after each halving; • The rate at which Bitcoin climbs to a new all-time high is smaller after each halving. Data shows that Bitcoin only needed over a year after the first halving to make its new ATH. The window expands to 527 days and 548 days after two halvings in 2016 and 2020, hence it's safe to say we could expect a new ATH after 500 - 600 days or somewhere between August and December 2025. We're still pretty early. And check out a simple Bitcoin price projection here: As Bitcoin's highest value increases from US$1,147 in the first halving cycle (after first halving) to US$19,783 in the second halving cycle and to US$68,925 in the third halving cycle, we can assume a depreciation of 0.15 for its max value growth rate. From there, we land at a potential US$95K after the 4th halving and US$100K after the 5th halving. Note that a 0.15 depreciation rate is quite large, therefore this is a very conservative forecast for Bitcoin's maximum value in the next halving cycle. Meanwhile, we tried to predict the lows of the next halving cycles using historical spreads and arrived at a depreciation of 0.13 for spread change, slightly lower than the depreciation rate of the max value growth. The given scenarios for Bitcoin's min value after 2024 and 2028 are US$16.9K and US$19.5K, respectively, which is indeed not too shabby for those who scooped some at US$15.5K in November 2022. Of course, this too is a humble prediction of Bitcoin prices; it's possible that Bitcoin can moon higher and the spread will become smaller faster with better liquidity (translation: more people willing to buy and sell makes price swings smaller). From all points of view, it's easy to understand the bullish sentiment across markets and why Bitcoin is poised for a take-off going into 2024. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Bitget Hot Takes (November 06 - November 12)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. The latest Bitget Hot Takes can be found here. Central Themes • BGB clings to US$0.48, volume up by 56%. • To be watched out the week ahead: U.S. CPI release on November 14, 2023. • Bitcoin breached US$37,000, Ethereum US$2,000, Solana led the Top 10. • Poloniex got hacked with estimated losses over US$100 million. BGB Clings To US$0.48, Accumulation Trend Still Strong The 7-day performance of BGB is +1.5%, seemingly modest in comparison with others, but remember that we’re back and forth between US$0.48 and US$0.49, which is close to its all-time high of US$0.513378 (also established this year). The smaller movements in BGB prices explain the lower volatility, and again, we need not to say that we are happy with this current level of volatility. However, the fact that BGB is still lingering around its four-month high continues to spark investors’ interest, and results in a surge of 56% in its weekly volume to US$200 million. When we look at the 4H chart, it’s clear that accumulation trend is quite strong, hence why BGB’s volume-to-mcap ratio is picking up. If you are new, hi there, BGB is the native token of Bitget. It’s currently one of the most searched for tokens on CoinGecko, and we invite you to learn about the perks that come with BGB to see why this wonderful token is so loved. BGB has hit its all-time high this year in June at US$0.513378 (and US$0.490540 as of last week) from a mere opening price of US$0.181712 on January 01, 2023. We have good reasons to retain our faith in its incredible performance: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition ‘Leave Crypto If You Haven’t Tweeted “We’re So Back” This Week’ Let’s start with the biggest news - so far (yes we hope for more) - this year: Bitcoin prices are back to US$37,000 and Ethereum to US$2,000 for the first time since May 2022! Among the Top 10, Solana recorded the biggest gain this week of 33.7%, followed by a 16.5% increase in volume. Most traded in the Top 10, however, is our beloved memecoin DOGE: up by 13.5% in value and 121% in volume! The joy spread out quickly across markets, X (formerly Twitter) and Telegram of course. Do you remember Beeple, the man who sold the first ‘purely digital artwork’ for US$69 million at Christie’s? He has decided to rename his upcoming event from ‘Crypto Winter Wonderland’ to ‘Crypto Bonerland’. And in the Halloween special episode of ‘The Simpsons’, we get to see Homer minting a Bart NFT, Marge trying to rescue him by going into the blockchain, and the Mayor announcing the digitisation of the city’s art gallery. All the hype and well, as ThreadGuy said: ‘leave crypto if you haven’t tweeted “we’re so back” this week’. We have every reason to believe that this comeback is mainly driven by institutional interest, with a big dose of hopium for not only the first spot Bitcoin ETF but also the first spot Ethereum ETF in the U.S. On the other side of the planet, Hong Kong is considering a spot Bitcoin ETF as well. The City has proved their ambition in becoming a true crypto hub in Asia with crypto retail trading, an ecosystem of tokenised products, and UBS’ new service for wealthy clients, which allows them to trade three currently available crypto ETFs in Hong Kong: Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs. Another big player to join the crypto force is HSBC, who plans to begin to offer tokenised securities custody service for institutions in 2024. Meanwhile, Standard Chartered’s venture arm SC Ventures has partnered up with Japanese financial conglomerate SBI Holdings to invest US$100 million in crypto. The Latest Bitget News First, take a look at our incredible performers of the week here: This week we have eight tokens whose 24-hour change exceeds 100%: T2T2/USDT, GROK/USDT, ARBINU/USDT, HMTT/USDT, SHRAP/USDT, SATS/USDT, FERC/USDT, and TEM/USDT, three out of which are Bitget’s initial listings. If you are a spot trader, don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Don’t forget that our spot listings always come with a bunch of real good deals:• Bitget Savings: New tokens can be added to our savings vaults within days after the listing with up to 100% APR for a limited time! • Bitget Launchpool: Similar to Bitget Savings, but it’s for BGB owners to put their holdings to work! • Buy new tokens with 0 fee: We introduce a new token every week, and you can buy it with your Credit/Debit card at no processing costs for seven days! Added to the program this week is ORDI - don’t let this opportunity pass by! Want some extra juicy deals? • Check out Bitget’s Zero-Fee Program: activated every Wednesday and every weekend for Bitget users who own a Credit/Debit card! • Play Spin and Raffle before November 19 to share 200,000 USDT! • Save the date for Bitget’s Black Friday Deals: for the EU region, U.K, Canada, Australia, Spain, Portuguese and LATAM region! • Bitget Snowball and Bitget Smart Trend: New subscription period begins every Monday! • Weekly exclusive earning opportunities: Up to 10% APR on Bitget Wealthy Tuesday Bitget Spot Trading’s volume went UP by 71%. Bitget Futures Markets’s average crypto OI saw a further expansion of 23%, average Bitcoin OI by 14.7% in the last 7 days, meaning Bitcoin dominance on ours futures market decreased by another 6.8% to land at only 47%. Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events Virtual Versions (VV) will be listed on Bitget. Come and grab a share of 630,000 VV! Nakamoto Games(NAKA) will be listed on Bitget. Come and grab a share of 10,000 NAKA! Chappyz (CHAPZ) will be listed on Bitget. Come and grab a share of 20,000 USDT! HiFi Finance (HIFI) GROK (GROK) will be listed on Bitget. Come and grab a share of 19,000 USDT! Bitcoin Gold (BTG) will be listed on Bitget. Come and grab a share of US$6,000 worth of BTG! MetaTrace (TRC) will be listed on Bitget. Come and grab a share of 86,000 TRC! Hype Meme Token (HMTT) will be listed on Bitget. Come and grab a share of 1,000,000 HMTT! Sats(SATS) will be listed on Bitget. Come and grab a share of US$6,000 worth of SATS! Shrapnel (SHRAP) will be listed on Bitget. Come and grab a share of 428,000 SHRAP! Sakai Vault(SAKAI) will be listed on Bitget. Come and grab a share of 3300 SAKAI! Deposit to List: Sexone (SEX) - Deposit and Share 0.00007295 SEX Rewards! Deposit to List: Sundae The Dog (SUNDAE) - Deposit and Share 2,755 SUNDAE Rewards! November new user bot trading perks — share a 60,000 USDT prize pool and enjoy loss protection on your first trade Join Bitget as an elite trader for rewards! Bitget's Diwali Fest: Unlock Crypto Riches! Join the Bitget Hunter program to win up to 2500 BGB and Messi merch 100,000 USDT Prize Pool Up for Grabs! NewDegen 2023 On-Chain Trading Competition: Registration Now Open! Get USDT at a 10% discount everyday on Bitget P2P! Good Reads Chappyz (CHAPZ): Leveraging AI to Foster Authentic Communities in Web3 What Is Grok (GROK) and How Does It Work? Hong Kong Poised to Approve the First BTC ETF in Asia Why Are Memecoins So Popular? A Deep-Dive Trade Like a Pro: Follow Unlimited Experts with 100 USDT on Bitget Copy Trading Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (October 23 - October 29)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. The latest Bitget Hot Takes can be found here. Central Themes • BGB is back above US$0.44, scoring a 10% weekly gain in line with the market’s comeback. • Bitcoin hit the year’s high at US$35,150. BGB Back Above US$0.44 BGB ended the week on a good note with an increase of 10%, second to Bitcoin (+13.9%) only. Accumulation is back to early October’s levels, and RSI is approaching February’s highs, when BGB achieved its wonderful all-time high at the time. What did we talk about in last week’s issue? We were waiting for BGB volatility to pick up, cuz it would equal exactly the rise we are seeing. Too high like XRP and it’ll send us on an emotional rollercoaster, too low implies a slow death; some spices are needed after a few weeks of red, but of course we’ll love to see this measure returns to its consistent level now that BGB turned positive. BGB volume rose proportionally with the token’s upward momentum at 12.5% to US$127.9 million and has the tendency to exceed that of Bitcoin again soon at the healthy 0.03 mark. If you are new, hi there, BGB is the native token of Bitget. It’s currently one of the most searched for tokens on CoinGecko, and we invite you to learn about the perks that come with BGB to see why this wonderful token is so loved. Afterwards, go check out our BGB Sail Series to see how good BGB is as a long-term investment: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition Something Good Besides Spot Bitcoin ETFs We get it: Spot Bitcoin ETFs are in the spotlight, and for legitimate reasons. If you’re not familiar with the subject, we suggest reading our guides to crypto ETFs here:What is a Crypto ETF? Your Comprehensive Guide to Crypto ETF Why are BlackRock and Fidelity’s Bitcoin ETFs Significant to the Crypto Market? Anticipation of Bitcoin ETF Approval Sparks Optimism and Fuels Price Surge They’ve brought us the good hopium that pushed Bitcoin prices to its yearly high of US$35,150 and flipped the Fear Greed Index to the right side at 63/100. Shorts got rekt; green covered crypto ETFs and crypto stocks. But there are other things to celebrate as well. TradFi don’t necessarily wait for a spot Bitcoin ETF to adopt crypto; they have already embraced this inevitable digital revolution. Chainalysis’ latest report says that ‘North America’s 76.9% of transaction volume is driven by transfers of $1 million or more’ and most importantly, activities take place on DeFi protocols and CEXs ‘evenly’. Three things to be taken from this piece of news are (1) DeFi is poised to grow, (2) institutional adoption is already happening, especially in the U.S., and (3) because institutional demand is huge, we can have even more faith in the approval of one, if not several, spot Bitcoin ETFs. Also proving that crypto will definitely become the ‘new norm’ is how on-chain trades and settlements are being tested and executed more ‘casually’: from PetroChina’s first international crude oil trade of one million barrels, Deutsche Bank and Standard Charter’s SC Ventures completing the first stablecoin swaps to test out the SWIFT Killer network UDPN to World Bank being the first issuer of the Brussels-based securities settlement house Euroclear’s newly launched digital securities issuance service. Apparently, banks and settlement houses are getting more comfortable with the digital space, which should further accelerate the crypto adoption on a large scale. Last but not least, SBF finally took the stand. We will deliver this week’s recap ASAP, and in the meanwhile, check out the previous pieces of information available in the previous parts of the proceedings: The First Two Weeks of FTX Trial: Friends to Foes, Secrets Exposed What Happened During The Third Week of the Sam Bankman-Fried Trial The Latest Bitget News BarbieCrashBandicootRFK88 (SOLANA) was the memecoin of the week on Bitget as it made it to the Top 3 daily gainers three times with a 24-hour gain of 184.6%, 123.2% and 116.9%, respectively. The week also marked the return of Bitget’s specialty - Initial Listing - with five events announced for NERD with a 141.6% increase overnight, OFN at +149.3%, SPURS, BEAM at + 147.2% and TOKEN at a staggering +10,165.2%. The next one? Today, October 30, 2023 at 11:00 AM (UTC) with CYCON! Bitget Spot Trading’s volume went up by 66.4%, naturally because of the market’s anticipation on a new bullish cycle. If you are a spot trader, don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Bitget Futures Markets’s average crypto OI saw an expansion of 3.8%, average Bitcoin OI is however down by 1.2% in the last 7 days, meaning Bitcoin dominance on the futures market decreased by 4.8% to land at only 52%. Exclusively designed for Credit/Debit card holders are Bitget’s Zero-Fee Program, which is activated every Wednesday and every weekend. Our latest new listing NERD is also added to this program, but for limited time only! Details are available here: Buy NERD using credit/debit card with zero fees Our perks for crypto lovers also include: • Up to 50% cashback for your first crypto purchases via Credit/Debit card or bank deposit: Share the 10,000 USDT weekly prize pool until the last day of October! • Spin and Raffle to share 200,000 USDT: The promotion will end on November 19, make sure to join before it’s too late! • Bitget’s Halloween mystery revealed: Five days left to grab your treats of Bitcoin - the flagship cryptocurrency that has just hit its yearly high! Don’t miss out the opportunity to grow your holdings with Bitget Earn! Bitget Dual Investment now supports 8 new coins including MATIC, AVAX, LINK, TRB, BNB, ZRX, MKR, and STORJ, and Monday-Friday as the new subscription periods is introduced for Bitget Snowball and Bitget Smart Trend! Want to take it simply? Join us on the Bitget Wealthy Tuesday every week and earn up to 10% APR! Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! New Events Join the Bitget Builders team — share a US$20,000 offline event budget and win "Apple Family "products Exclusive rewards! Start margin trading to share 30,000 USDT! WAX (WAXP) will be listed on Bitget. Come and grab a share of $10,000 WAXP! Learn2Earn: Take the IoTeX (IOTX) Quiz to Win 200,000 IOTX and 10,000 BGB! CYCON Token (CYCON) will be listed on Bitget. Come and grab a share of 5,000,000 CYCON! Polygon Ecosystem Token (POL) will be listed on Bitget. Come and grab a share of $10,000 worth of POL! Join the Bitget Hunter program to win up to 2500 BGB and Messi merch Beam(BEAM) will be listed on Bitget. Come and grab a share of US$10,000 worth of BEAM! Joe Coin (JOECOIN) will be listed on Bitget. Come and grab a share of $15,000 JOECOIN! T2T2 is set to launch on Bitget Launchpad! Commit BGB and team up! Tottenham Hotspur Fan Token (SPURS) will be listed on Bitget. Come and grab a share of 15,000 SPURS! Learn to Earn : Take the Celestia (TIA) Quiz to Win 50,000 BGB and 150,000 Celestia Futures token (TIABG)! Halloween Crypto Trading Competition - Win Your Share of $10,000! Halloween festival - collect limited edition badges and win pumpkin chests! Polymesh (POLYX) will be listed on Bitget. Come and grab a share of $10,000 worth of POLYX! NeoGas (GAS) will be listed on Bitget. Come and grab a share of $10,000 worth of GAS! Indulge in Halloween Fiat Treats: Win Up to US$100,000 in BTC! Hot coins trading celebration round 2: grab a share of 10,000 USDT and 10,000 BGB! Openfabric AI(OFN) will be listed on Bitget. Come and grab a share of $20,000 OFN! Nerd token (NERD) will be listed on Bitget. Come and grab a share of US$21,000 worth of NERD!Zero fees! Deposit EUR (iDEAL) via Banxa and get a 10% voucher! Meme Mania: Ride the Hottest Coins to Big Wins! Good Reads The Future of Web3 Social - T2T2 on Bitget Launchpad Making Bank Deposits and Withdrawals on Bitget App Anticipation of Bitcoin ETF Approval Sparks Optimism and Fuels Price Surge Shiba Inu (SHIB) Caused A Stir With Whale Movements Web3 User Guide Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (October 16 - October 22)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. The latest Bitget Hot Takes can be found here. Central Themes • BGB had another negative week, liquidity unaffected. • SEC staff ‘is doing work’ on 8 - 10 Bitcoin ETF filings; Grayscale filed a new application for a spot Bitcoin ETF. • SEC dropped charges against Ripple. • BTC back to US$30,000. BGB Had Another Negative Week BGB continued to shed another 2.1% of its value over the last seven days, ending the week at US$0.421313 after recovering from the weekly low of US$0.404749 on October 19. The 7D rolling volatility is going down as a result of the prolonged period of red, and we hope to see it rise again - the higher the amplitude, the higher BGB prices will be. It’s good, however, to see BGB volume unaffected by the recent slide: only up by 3%, which signals no sell-off at all. BGB is still considered a good keep and, compared to others with significant 7D volume change, a highly liquid token. Clearly, BGB market cap has a lot of room to grow, hence the current levels of its volume are a better reflection of demand and appreciation than market cap. The jump in volume of the Top 5 biggest cryptocurrencies (excluding stablecoin USDT) pales into insignificance considering their already-big market cap. If you are a sceptic, then maybe learn about the perks that come with the wonderful token named BGB first? After all, BGB has always proved itself to be a good investment. You can check out our BGB Sail Series to see how impressive BGB monthly performance is: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition BGB Sail: April Edition BGB Sail: March Edition BGB Sail: February Edition UPtober, Finally? In a recent interview with Bloomberg, SEC Chair Gary Gensler has confirmed that: • the SEC didn’t appeal the court ruling regarding the Grayscale case • the staff ‘is doing work’ on ‘multiple’ spot Bitcoin ETF filings In addition, the agency also ‘voluntarily’ dismissed the Ripple case regarding violations of securities law on October 19, 2023. All these headlines are but a huge boost for the whole industry: these court victories might set legal precedents that benefit crypto businesses in the U.S. Of course, they also give us the hopium for the approval of multiple spot Bitcoin ETFs in ‘Murica, thereby wide-opening the gate for institutional investors. As a result, Bitcoin has rallied to US$30,000 and claimed its peak dominance in the 30-month period from May 2021 to October 2023. This surge paved the way for altcoins, with the three biggest gainers in the Top 10 being SOL at 33.4%, BTC at 11.4% and XRP at 7%. These impressive gains mean more activities in the spot markets. The global spot markets enjoy a jump of 34% in 7D volume, in which the volume of this weekend (October 20 - 22) only is equivalent to nearly 70% of the whole week from October 09 - 15’s volume. The increase in BTC volume over the same period (weekend from October 20 - 22 and weekend from October 13 - 15) is 37.2%, whilst it’s 274.5% for SOL and 115.6% for XRP. We better expect more liquidity in spot markets in the coming weeks, and it’s most likely that there’ll be glorious days for crypto ETFs and crypto stocks, too. The Latest Bitget News Last week we have five tokens that experience a double in value overnight: XOR/USDT (+337.8%), TIP/USDT (+307.3%), JOY/USDT (+208.2%), SSX/USDT (+132.4%) and DKA/USDT (+122.9%). This is accompanied by several exclusive events including XOR Savings Boost, Deposit and Trade on Bitget CandyBomb to Share 404,000 JOY, SSX Listing - Grab a Share of 600,000 SSX and DKA Listing - Grab a Share of 350,000 DKA! Bitget Spot Trading’s volume went up by 83.7%, in line with the demand increase for major cryptocurrencies, whereas Bitget Futures Markets’s average crypto OI was down by 7.3%, average Bitcoin OI by 7.2% in the last 7 days, meaning Bitcoin dominance on the futures market is slightly down by 0.1% to land at 54.7%. A possible explanation of the seemingly less active futures markets lies in the liquidation of short positions when Bitcoin suddenly picked up pace, with at least US$216 millions evaporated from the short side between October 19 and October 22. If you are a spot trader, don’t forget that we are calling for project recommendations - submit info about your favourite project and earn 100 USDT once it’s listed on Bitget! Now, there’s a high chance that we are about to enter a new market cycle, with the sentiment inching towards the Greed mark - do you want to fill your crypto bags with good investments? Look no further. Exclusively designed for Credit/Debit card holders are Bitget’s Zero-Fee Program, which is activated every Wednesday and every weekend. Imagine buying Bitcoin at 0 fee last Wednesday at US$28-something-K and it’s now US$30K; you’d have locked in a 7% profit and owned the biggest cryptocurrency by market cap! Plan your purchase to not miss any opportunity like this! Our perks for crypto lovers also include: • Up to 50% cashback for your first crypto purchases via Credit/Debit card or bank deposit: Share the 10,000 USDT weekly prize pool until the last day of October! • Spin and Raffle to share 200,000 USDT: The promotion starts TODAY - October 23! • Let’s celebrate Halloween together: Bitget’s Halloween mystery will be revealed this Wednesday (October 25) with an incredible BTC prize pool of up to 100,000 USDT in value! Bitget Rewards Center has been upgraded! New users can now get up to 5,027 USDT for free and earn an additional bonus when you log in to your account daily. Sign up immediately to get the most out of our promotion campaign! Looking at new rounds of Bitget Earn? Subscribe to be the first one hearing from us! New Events Join the Bitget Builders team — share a US$20,000 offline event budget and win "Apple Family "products New users only: Deposit and trade in CandyBomb to earn JOY! New users only: Trade in CandyBomb to earn ETE! $REKT($REKT) will be listed on Bitget. Come and grab a share of US$5000 worth of $REKT! dKargo (DKA) will be listed on Bitget. Come and grab a share of 350,000 DKA! Somesing (SSX) will be listed on Bitget. Come and grab a share of 600,000 SSX! Trade to Win up to 500 USDT: Bitget KCGI Futures Checkpoint Battle! Earn Up to 20 BGB airdrops by completing Bitget's Buy Crypto survey Pop Social (PPT) to be listed on Bitget — grab a share of 150,000 PPT from Launchpool! Spin for a Chance to Win from a $40,000 USDT Halloween Prize Pool: Trick or Treat? Futures quant has been officially launched — participate and grab a share of the 30,000 BGB prize pool! ZTX (ZTX) will be listed on Bitget. Come and grab a share of $15,000 ZTX! Hot tokens Carousel: Spin for BIGTIME, LOOM, SOL More! 100,000 USDT Prize Pool Up for Grabs! NewDegen 2023 On-Chain Trading Competition: Registration Now Open! Good Reads How You Can Start Using Bot Copy Trading Decipher BTC Funding Rate - The Engine of Perpetual Futures Trading Bitcoin Futures Contracts on Bitget Best Cryptocurrency to Buy in 2023 How to Buy USDT with Credit Card on Bitget Simply create an account, and start exploring the incredible Bitget-Verse today!