Bitcoin Stability and Potential Surge
Bitcoin is currently experiencing an unusual period of stability, with very little market activity. Experts suggest that this may be due to major institutional investors completing their accumulation of BTC. Typically, Bitcoin sees price drops and surges due to large OTC transactions, but without them, retail sector bulls and bears are evenly matched.
- Institutional Bitcoin accumulation may be complete, leading to market stability
- Bitcoin experienced a brief surge to $30k last week before returning to the mid-29k range
- Resistance at $29.4k is preventing further price increase, while support is at $29.2k
- Analysts expect a surge in the near future, with a potential target of $30.5k or even $32k
- September historically shows poor performance for BTC, but October and November are bullish
Pro-Bitcoin Politician Wins Argentina Primary Election
Javier Milei, a pro-Bitcoin candidate, recently won the most votes in Argentina’s primary election. This supports the emerging trend of pro-BTC politicians around the world. Milei has even called for the abolition of the country’s central bank, signaling a new era in politics and finance.
- Javier Milei leads in Argentina’s primary election with nearly 32% of the votes
- Pro-Bitcoin politicians are gaining popularity globally
- Milei advocates for the abolition of Argentina’s central bank
Shibie Completes Presale
Shibie, a new meme coin combining Shiba Inu and Barbie, has successfully completed its presale. The token attracted attention from the crypto industry after the success of the Barbie movie. During the presale, Shibie hit a soft cap of $500k and sold 60% of its token supply.
- Shibie completes presale, hitting a soft cap of $500k
- The token combines Shiba Inu and Barbie
- 60% of the token supply was sold during the presale
- Launch details to be announced soon
Hot Take
Bitcoin’s current stability may be a sign of institutional accumulation reaching its peak. Despite the lack of volatility, analysts expect a surge in the near future. Additionally, the success of pro-Bitcoin politicians like Javier Milei in Argentina highlights the growing influence of cryptocurrency in politics. The completion of Shibie’s presale demonstrates the continued popularity of meme coins in the crypto industry.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
