by Ferry Bayu | Nov 8, 2024 | Banking, Finance, and Cryptocurrency
Explore how Donald Trump’s 2024 election win is boosting the crypto ecosystem. Learn about Bitcoin’s price surge, altcoins’ growth, and Trump’s crypto-friendly policies that could shape the market’s future. Stay updated on the latest crypto trends and predictions!
Donald Trump was declared superior to Kamala Harris in the 2024 US Election held on November 5. Trump received 50.9% of the vote while Kamala only received 47.6%, with Trump’s voter area being much more dominant.
This victory is good news for the crypto ecosystem. Evidently, due to Donald Trump’s superiority, the price of crypto tokens has skyrocketed, and Bitcoin has even become a new ATH.
Check out the detailed explanation of the crypto ecosystem, which has strengthened again due to Donald Trump’s victory in the 2024 US Election.
Bitcoin Predicted to Hit $100,000 in Q! 2025
After yesterday BTC recorded a price of more than $75,000, today the price of Bitcoin even touched $76,391 its highest price in 24 hours. When this article was written on November 7, BTC was trading at $75,216, with an increase of 3.05%. This price is, of course, very amazing and has only happened during this US election period.
You can see from the screenshot of the Bitrue price chart above. The BTC RSI value is at 71.74, which means the buying trend is still strong like yesterday, but if it is higher, it will be overbought.
The Bitcoin MACD indicator also shows a bullish trend that could continue to climb along with Donald Trump’s victory celebration. Because of these very positive BTC indicators, many crypto observers say that BTC could touch a price of $ 100,000 in Q1 2025.
As reported from TradingView, Bitcoin’s current dominance is at 60.05%, which is much higher than BTC’s dominance on normal days, which is only in the 50s.
Crypto is Greening
The crypto ecosystem has been green since yesterday. Not only Bitcoin but various Altcoins and meme coins have also experienced significant increases.
Ethereum continues to strengthen its price at $2,821, with an increase of more than 8%. In fact, in 24 hours, ETH touched a price of $2,878. Just like BTC, Ethereum’s RSI value is also very high at almost 80, with a MACD line that has jumped significantly, indicating that ETH’s bullishness is happening and will be more positive in the future.
SOL is also no different. The SOL MACD line indicates a positive bullishness. No mistake, SOL’s price also touched its highest price at $191.90 in the last 24 hours.
Why Crypto Ecosystem Supports Donald Trump
Donald Trump has indeed attracted the sympathy of crypto investors. This is because, during the campaign, Donald Trump seemed serious about supporting this ecosystem. Trump was also recorded as stating 11 points to support crypto:
- Fire SEC Chairman Gary Gensler on Day 1
- Establish a “National Bitcoin Stockpile”
- Make the United States the “Bitcoin and cryptocurrency capital of the world”
- Retain 100% of the 203,650 BTC$BTC ($14.95B) currently held by the U.S. government
- Eliminate capital gains tax on Bitcoin
- Support U.S. Bitcoin mining
- End regulatory crackdowns (the “anti-crypto crusade”)
- Launch a “Bitcoin and crypto presidential advisory council”
- Protect individuals’ rights to self-custody digital assets
- No CBDC
- Commute Ross Ulbricht’s double-life sentence, the founder of Silk Road.
Conclusion
Will the crypto ecosystem strengthen in the future during Donald Trump’s leadership in the United States? Will Trump’s promise to make crypto regulations easier and more protected, as Trump mentioned during the campaign?
To find out, you can access the Bitrue website. There, you will find out all the updates about the crypto ecosystem in real-time, wherever you are.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Nov 6, 2024 | Business
Explore the 2024 US Election battle between Donald Trump and Kamala Harris, and how their policies impact the crypto ecosystem. Discover Trump’s pro-crypto stance and his potential to shape the future of Bitcoin mining, along with the latest market reactions. Plus, join Bitrue’s Election Forecast contest for a chance to win 10,000 USDT!
The United States General Election has attracted the attention of the global community, including crypto activists. During the campaign period, investors in the crypto ecosystem highlighted the views of the latest US presidential candidates, namely Donald Trump and Kamala Harris, on crypto. Donald Trump is indeed more open to the crypto ecosystem, including his plan to make America a center for Bitcoin mining.
So, who is superior in the 2024 US Election? Is Donald Trump still wanted to be the next US President compared to Kamala Harris by crypto activists? Or is Kamala Harris now superior in electability and able to attract the attention of crypto activists at the last second of the election?
Read the full and detail explanation in this article. You also have the opportunity to win 10,000 USDT in the Election Forecast contest currently being held by Bitrue.
US Election Battle: Donald Trump Vs. Kamala Harris
On November 5 local time, the US Election was officially held. Eligible Americans flocked to cast their votes for the candidate they wanted to become US President in the upcoming period. Donald Trump and Kamala Harris finally officially competed after campaigning for the past few months.
In the live report of the US Election when this article was written, it was known that Donald Trump was ahead in the vote acquisition by a fairly narrow value, namely 51.2% compared to 47.4%.
In the recording of this temporary report, Trump was seen to be ahead in various regions, such as Texas, Mississippi, Florida, and others. Meanwhile, Kamala Harris was ahead in more flashy areas, such as New York, California, and Washington DC.
For information about the Election system in the United States, today’s US Election voting is not the end. The elected president will be determined from the election conducted by the Electoral College where its members are also elected today. The election by the Electoral College will be held in December 2024.
Is Donald Trump More Pro Crypto Ecosystem?
The crypto ecosystem highlights in detail about the 2024 US Election. This is because the newest President of the United States is the one who determines how new regulations in the crypto and blockchain world will be in the future. Moreover, the SEC is often highlighted because of its very complicated rules regarding crypto licensing.
During the campaign, Donald Trump received a lot of praise from crypto activists. His plan to remove SEC members, his desire to make America a center for Bitcoin mining, and even his action of making payments at a pub using Bitcoin received a lot of praise.
On the other hand, Kamala Harris received less attention in the crypto ecosystem. Kamala Harris is not as old-fashioned as Joe Biden, but her plans for the crypto ecosystem have disappointed many. Especially when she explained about crypto and blockchain regulations during the campaign but did not use terms related to these things at all.
However, during the US Election campaign, there were many movements to support both candidates. Both Donald Trump and Kamala Harris received donation support for campaign costs. In fact, Joe Biden, one of the early candidates before Kamala Harris who later withdrew, also received “tips” from crypto activist groups.
Bitcoin Price Rises Significantly on Donald Trump’s Lead
As predicted, the 2024 US Election contest is indeed a determinant of how the ecosystem will run in the future. Big investors flocked to show support for their favorite candidates and this caused the crypto ecosystem to experience significant price changes in the last 24 hours.
Surprisingly, Bitcoin price today even experienced a drastic increase and recorded its latest ATH, which was at $ 75,000, whereas previously BTC’s ATH was at $ 73,800. Many investors are betting and along with Donald Trump’s superiority, crypto tokens are experiencing price strengthening.
At the time of writing, Bitcoin is trading at $74,065 with a 7.72% increase. In 24 hours, BTC was at its latest ATH, which was $75,407. As can be seen in the price chart above, the BTC RSI value is very high at 74.79, which means the buying trend is very high and can result in overbought.
Not only Bitcoin, various other tokens also experienced a significant increase in price. Ethereum recorded its latest price at $2,626 after experiencing an increase of 8.39%. Solana’s price increase even reached 15.73% so that it is now trading at $186.32.
Don’t forget about memecoin which also received sharp attention during the campaign period. Moreover, there is a meme token as a parody of Donald Trump, namely $TRUMP. However, unfortunately, currently, the TRUMP token has actually experienced a price decrease of 0.53% so that it is traded for $3,738.
Conclusion
Donald Trump Vs. Kamala Harris in the 2024 US Election will indeed determine the fate of the crypto ecosystem in the future. Crypto activists support one of the candidates, including major investors. If the candidate is elected, will the crypto ecosystem have friendlier and clearer regulations than now?
For those of you who want to participate in the 2024 US Election, but are not American citizens, you don’t need to be sad. Because, you can guess who will be elected as the next US president by following the Election Forecast currently being held by Bitrue.
You can choose Donald Trump or Kamala Harris as your champion. And if your choice is correct, you have the chance to win 10,000 USDT! How to participate? Immediately see the contest “Who Will Be Elected U.S. President, Trump or Harris?” which is on the Bitrue website right now!
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 27, 2024 | Business
Bitcoin futures open interest hits record high! In-depth analysis of its impact on the price of Bitcoin and the cryptocurrency market as a whole. Learn the risks and opportunities of Bitcoin futures trading.
Bitcoin futures trading, as per a report from Coinglass, has hit a new record high with open interest (OI) reaching $40.5 billion on October 21. These trades are carried out by various global crypto exchanges.
This article will provide detailed information regarding market analysis and the Bitcoin futures trading process. That way, you can do personal research before investing.
Bitcoin Hits $70,000
The increase in open interest coincides with Bitcoin price approaching $70,000, more precisely $67,027 with an increase of +0.50%. Open interest refers to the total value or number of futures contracts that have not yet expired. It serves as a leading indicator of market activity and investor engagement in Bitcoin derivatives.
An increase in OI can signal increased leverage in the system, potentially leading to greater market volatility. Periods of high open interest can cause significant market movements, especially when prices shift sharply. Such conditions can trigger chain liquidations, resulting in forced selling in the spot market and causing a sudden drop in Bitcoin prices.
A similar event occurred in August when Bitcoin prices plunged nearly 20%, dropping below $50,000 in just two days. On October 21, Bitcoin hit $69,380 in early trading but faced resistance, pulling back to around $69,033. As of now, the cryptocurrency is still 6.4% short of its record high of $73,738, according to CoinGecko.
Additionally, altcoins such as Ethereum and Solana have outperformed Bitcoin in recent daily gains. Ethereum naik by 3.5%, reaching $2,750, while Solana saw a 6% gain, nearing $170. Both assets have seen a slight decline from recent record highs.
Ethereum and Solana Rally as Bitcoin Dominates
While Bitcoin has been making headlines, this has not been the case for newer altcoins like Ethereum and Solana with daily gains. Ether rose by 3.5 percent to $2,750, meanwhile, Solana rose more than 6 percent to $170. Both assets have pulled back slightly from recent record highs.
The combined dynamics of the bitcoin and altcoin markets add a layer of complexity as altcoin performance can be impacted. Bitcoin may be the star, but investors are increasingly bullish on altcoins to increase returns. As the market grows, so does interest in alternative digital assets.
However, with Bitcoin futures open interest rising, altcoins also have risks to worry about. If Bitcoin prices swing wildly, so can altcoins. For this reason, market participants should continue to check Bitcoin and altcoins for possible price movements in the coming weeks.
US Election Triggers Bitcoin Surge Amid Uncertainty
The US presidential election drove Bitcoin’s recent surge. Before November 5, market players considered how the election results might affect the cryptocurrency market. Donald Trump’s increasingly crypto-friendly policies paved the way for Bitcoin, which has increased its poll numbers and lifted Bitcoin.
Under the Trump administration, higher US interest rates could boost Bitcoin by weakening other currencies, according to market analysts. ‘The fact that the dollar has been strong is a factor in recent market moves, prompting traders to look for ways to hedge currency risks.’
Traders are now considering whether to prepare for election-related trading, as with 15 days until voting day, they can make that decision.
Bitcoin Prospects
Bitcoin has seen its price drop in recent weeks. This is largely due to the bearish sentiment in the cryptocurrency market as a whole. However, some special factors have also influenced the price of Bitcoin.
One of these factors is the increase in mining activity. When more miners join the Bitcoin network, this can increase the supply of new BTC. Increased supply could put downward pressure on prices.
Even though Bitcoin has experienced a price decline in recent times, many analysts are still bullish on its long-term prospects. Bitcoin was the first cryptocurrency and is still the most famous. This platform has a strong ecosystem and continues to grow.
One factor supporting Bitcoin’s prospects is the increasing adoption of blockchain technology. The more companies and organizations start using blockchain, the more likely it is that Bitcoin will become the platform of choice.
Additionally, Bitcoin is developing several technical improvements that could increase its efficiency and scalability. This can increase the interest of users and investors.
Bitcoin Futures Trading Strategy and Risks
If you are interested in trading Bitcoin futures, there are several strategies you can use. One strategy is to use technical analysis to identify trading opportunities. Technical analysis involves studying price charts to look for patterns and trends.
Another strategy is to use fundamental analysis. Fundamental analysis involves studying factors that can influence the price of Bitcoin, such as mining activity, transaction costs, and technological developments.
Bitcoin futures trading can be very risky. Leverage can magnify both profits and losses. It is important to understand the risks before starting to trade.
Conclusion
Bitcoin is an attractive digital asset with long-term growth potential. However, like all investments, Bitcoin futures trading also carries risks. It is important to do research and understand the risks before starting to trade.
Bitrue has various features that you can use to do in-depth research before investing. You can check prices in real-time, check converting from BTC to USD easily, to find out about the latest BTC projects that are being carried out through the latest articles on the Bitrue blog.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 25, 2024 | Business
Want to know about the hottest “tap-to-earn” gaming projects? X Empire has launched the $X token! Learn about the airdrop, price predictions, and growth potential of this project.
X Empire, the popular Elon Musk-themed “tap-to-earn” game has launched its $X token on The Open Network (TON) today, October 24th. The game has gained significant traction, attracting more than 50 million players in recent months. Along with the token launch, an airdrop for players will also be held on the same date.
Let’s discuss together about X Empire in detail, starting from the distribution of tokens through the airdrop event, information about the $X token listing, to predictions X Empire price.
Chill Phase: Reset Time to Get Extra Tokens
Previously, the developer announced a delay after completing the mining phase on September 30. In response, they initiated a “Chill Phase” that resets all player progress to zero and allocates an additional 5% of the token supply to incentivize player participation during this short period of play.
In the Chill Phase ending on October 17, players are allowed to earn extra tokens, offering a final chance to collect rewards.
The X Empire team has communicated that airdrop preparations have been completed and players can claim their tokens on various exchanges, including OKEx, Bybit, Bitget, KuCoin, Gate.io, and MEXC.
Through a statement on Telegram, the team indicated that further information regarding the utility of the $X token and its role in the gaming ecosystem will be shared in the coming days.
X Empire Price Prediction
The launch of the X Empire token was followed by a big question, namely about its future price performance. Let’s examine the factors that can influence the price of X Empire.
- Token adoption: The more users who use the $X token, the higher the demand, which can push the price up.
- Project development: X Empire’s success in developing an ecosystem and new features can increase investor confidence and drive prices up.
- Market sentiment: General sentiment in the cryptocurrency market can influence the price of $X. If the overall market is bullish, the price of $X tends to rise.
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Development of blockchain technology: The development of blockchain technology as a whole could affect the value of all cryptocurrencies, including $X.
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Massive airdrop: X Empire uses a phased distribution approach, where early members are rewarded first. This strategy can create hype around the token, potentially driving the price up.
Gradual distribution can also reduce price volatility at launch. User sentiment is currently positive, plus Bitcoin prices are bullish. These conditions could support a good start for the $X price.
$X Token Price Increase Factors
While it is difficult to predict the price of $X with certainty, some analysts are optimistic about its long-term prospects. Several factors that support this optimistic view include:
- Market growth potential: The cryptocurrency market is still relatively new and has great growth potential. X Empire, as an innovative project with a strong community, could be one of the winners.
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Uses of tokens: The $X token has utility in the X Empire ecosystem, which may increase its demand.
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Community support: X Empire has an active and enthusiastic community, which can support the growth of the project.
However, keep in mind that the cryptocurrency market is highly volatile and can experience sharp price fluctuations. Therefore, it is important to do in-depth research before deciding to invest in $X.
Possible $X Token Price Drop
After listing, the price of $X experienced a significant increase. In the first few hours, the token price rose by more than 100%. This shows high interest from investors in the X Empire project.
However, mining phase delays and the unexpected “Chill Phase” disappointed some users. X Empire only provides airdrop access to 6 million players out of a total of 50 million players, potentially causing negative sentiment that could affect prices.
Currently, the price of the $X token is $0.0000567. This price is well below the community’s predicted price, which is $0.0002. However, even though the price is below predictions, currently X Empire has experienced a satisfactory increase, namely 467%.
However, X Empire’s RSI figure is below 50, which means that many token owners are selling $X compared to users who are buying the token.
This is quite natural because it coincides with the distribution of airdrops where the user’s habit is that when they receive an airdrop at a price that does not match predictions, the tokens will be sold, instead of HODLing.
Conclusion
The launch of the $X token is an important step for the X Empire project. While it is too early to judge its long-term performance, its growth potential looks promising.
Investors interested in this project need to monitor developments closely and conduct careful analysis before making an investment decision.
X Empire price predictions in the future are still confusing. Some experts are optimistic and estimate that the token price could reach $0.05 (around Rp. 4.20) by 2030. However, this depends on the steady growth of the crypto market and the success of project development.
Bitrue will continue to provide the latest information about X Empire so you can do in-depth research before deciding investment in token X This. Check the price of X Empire in real-time and find out harga token X to USD so you can allocate investment funds well.
X Empire has also entered Bitrue’s launchpool and there is a competition being held there so you can get maximum profit by investing $X tokens.
This Press Release has also been published on VRITIMES
by Penny Angeles-Tan | Oct 23, 2024 | Business
Crypto futures trading provides benefit opportunities for users. Understand the mechanism, how it works, and its benefits. This article will also be explained about crypto futures event that Bitrue will hold next month.
The crypto ecosystem offers interesting instruments: cryptocurrency futures trading. These contracts allow investors to bet on the future price of digital assets, without having to actually buy them.
What is the mechanism, how does it work, and the benefits? You can see the detailed explanation in this article. This article will also explain the crypto futures event which will be held next November on Bitrue. So, if you want to maximize profits in the futures crypto with Bitrue, read this article till the end.
Working Mechanism of Cryptocurrency Futures Trading
Futures Crypto resembles futures contracts in general. Both parties, namely the buyer and seller of the contract, agree to transact at a certain price in the future. The asset at stake in these contracts is the fiat value of a particular digital asset. The transaction completion date is also determined when the contract is made.
Crypto futures contracts are traded on various exchanges, including Bitrue which offers Bitcoin and Ether futures contracts on margin.
History of Crypto Futures Contracts
Bitcoin futures contracts were first listed on the CBOE in early December 2017 but were later discontinued. However, in January 2024 the CBOE announced again trading Bitcoin futures contracts and Ethereum with margin. This makes CBOE “the first registered crypto exchange and clearing house in the US to offer both leveraged and spot derivatives trading on a single platform.”
CME also launched Bitcoin futures contracts in December 2017. This contract is traded electronically on the Globex platform and is cash-settled. Bitcoin and Etherium futures contracts are based on the CME CF Bitcoin Reference Rate and the CME CF Ether Reference Rate.
CME also has reference rates for various other crypto assets, although futures contracts for these cryptos are not yet available for trading on their exchange. These reference rates are published for use by traders on other exchanges. Currently, there are 17 crypto asset reference rates, including Bitcoin and Ethereum, 4 DeFi token reference rates, and 3 Metaverse token reference rates.
Benefits of Trading Crypto Futures Contracts
The main advantage of trading Bitcoin futures contracts is that it offers regulated exposure to the cryptocurrency. This is an important point in a volatile ecosystem with wild price swings. In the US, Bitcoin futures contracts on the CME are regulated by the Commodity Futures Trading Commission (CFTC).
This offers a level of trust and protection for institutional investors, who make up the majority of traders in such contracts.
- Simplicity: Bitcoin futures contracts also simplify the process of investing in Bitcoin. You don’t need to create a Bitcoin wallet or place money in a storage and security solution when trading because there are no Bitcoin exchanges. An additional advantage of cash settlement contracts is that they eliminate the risk of physical ownership of volatile assets.
- Safer than Crypto Holdings: Bitcoin futures contracts are relatively safer for dabbling in Bitcoin without getting burned because futures contracts have position and price limits that allow you to reduce your risk exposure to the asset class.
- Position Limits: Position limits differ between exchanges. For example, CME allows a maximum of 8,000 front-month futures contracts for Bitcoin and micro Bitcoin, and 8,000 for Ether and micro Ether.
Considerations When Trading Crypto Futures Contracts
The number of crypto exchanges offering crypto futures contract trading continues to grow, as does the number of participants and trading volume compared to other commodities. Trading crypto futures contracts has its peculiarities, such as:
- Trading volume in crypto futures contracts can mimic the volume of their spot market counterparts. Price fluctuations can also be high, especially during periods of price volatility. During these times, crypto futures contracts may appear to follow spot market prices or trade at a significant premium or discount to spot prices.
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Most exchanges are irregular. However, Some trading venues, such as CME, trade crypto futures contracts mostly on unregulated exchanges. Among the world’s largest platforms for Bitcoin futures contracts, only CME is regulated by the CFTC.
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Crypto futures contract options is a relatively new development. It functions like a standard options contract in that it represents the right, not the obligation, to buy cryptocurrency at a certain price at a future date.
Maximizing Profits in Cryptocurrency Futures Trading with Bitrue
Bitrue will hold a special event for crypto futures in the next month. There are two categories that you can choose, namely:
1. Liquidation Security for New Futures Users
This category is specifically for new Bitrue users at the time the event takes place. To participate in this category, you must open futures positions worth 100 USDT or more in any currency pair during the event period with a leverage of less than 20x.
Later, you will get additional prizes by inviting friends to take part in this event. The rewards you can get are more than 40% rebate commission and 10 USDT in futures trial funds.
2. Trade Futures And Claim 25 USDT Futures Trial Funds
This second category can be participated by new users and existing Bitrue users. New users are required to trade with amounts more than 100 USDT in their first futures transaction to receive 10 USDT futures trial funds.
For old Bitrue users, you can complete the first stage of Novice and Experienced Trader tasks to claim an additional 15 USDT in futures trial funds.
Conclusion
Before joining crypto futures, you must do in-depth research first. The Bitrue website provides various complete features that can help you do research, starting from checking the price of a token, knowing the price conversion for example from BTC to USD, to find out about various projects that a token or network is working on by reading articles on the Bitrue blog.
By understanding the mechanics, benefits, and risks of trading crypto futures contracts, you can make wiser investment decisions.
This Press Release has also been published on VRITIMES
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