Bitcoin set for insane long opportunities as it enters price discovery!

Even if Bitcoin gains half of what it did during price discovery in 2021, that would still propel it to $150,000, one trader said.

Bitcoin set for insane long opportunities

Bitcoin set for ‘insane long opportunities’ as it enters price discovery:
Bitcoin may be in for “insane long opportunities” over the coming months, as traders say BTC has now entered a price discovery phase.

“Bitcoin has begun its price discovery phase for this cycle,” said trader and analyst Daan Crypto Trades on X on Dec. 2, noting that the asset has traded above its previous all-time high for almost a month.

He cited previous gains in the past two cycles amid the price discovery stage; Bitcoin $98,312 and went up 1,600% during the 2017 bull market and 245% during the 2021 bull market.

“Even if we’d do half of the 2021 move, that would still put the price at around $150K,” he said.

Price discovery is a process that determines an asset’s fair market price through the interaction of buyers and sellers, and a new phase begins once it trades above all-time highs.

Capriole Fund founder Charles Edwards said: “Every cycle we get 4-7 months of insane Bitcoin price discovery returns,” adding that the first month occurred in November, which saw the asset surge 40% and break monthly candle records.

“The next months will have insane long opportunities,” he predicted. December has also been a bullish month for BTC historically.

Bitcoin reclaimed $98,000 during early trading on Dec. 2, but has retreated below $97,000 since, trading just 3.3% below its Nov. 22 all-time high of $99,645 at the time of writing. Analysts tell Cointelegraph there could be more to come in December.

“Historically, Bitcoin has averaged a +10% increase in December, with blockbuster performances in 2010, 2011, and 2020,” 10x Research founder and CEO Markus Thielen told Cointelegraph.

He added that this was especially true during halving years when “the December returns were +6% in 2012, +31% in 2016, and +47% in 2020 — averaging a remarkable +28%.”

“All three halving years posted positive returns in December,” he said.

Related: Bitcoin‘s $93K dip could be ‘last flush’ before the rush: Analysts

Meanwhile, chief investment officer at crypto financial services firm Ledn, John Glover, told Cointelegraph that a larger correction could still be possible. However, it is also possible that momentum could continue to the $125,000 area, he said, before adding:

There’s no real threat of a drastic sell-off unless we breach the March 2024 high at ~$74k, so I expect the market to continue adding to longs on any dips. Read more in Bitcoin set for ‘insane long opportunities’ as it enters price discovery: Traders.

Coinpedia, Bitstamp, crypto.news says: “Bitstamp lists SOL and PEPE for U.S. customers”. In a latest development, Bitstamp has officially announced the listing of PEPE and SOL in the US. It announced listing the following trading pairs: PEPE/USD, PEPE/EUR, SOL/USD, SOL/EUR.

It underscored its dedication to bring diverse options to US customers. The move is a reversal for SOL, as Bitstamp announced it was ending trading for the crypto in August of 2023.

The exchange noted that Solana and six other cryptocurrencies would be “permanently” suspended following a US SEC qualification that they were unregistered securities.

Bitstamp, one of the crypto industry’s oldest exchanges, has announced support forSolana and Pepe for users in the United States.

Bitstamp accept PayPal

Bitstamp lists SOL and PEPE for U.S. customers

According to the crypto exchange, Bitstamp USA has now added Pepe, Solana tokens for traders in the U.S. Bitstamp is registered as a virtual currency business activity and a money transmitter by the New York State Department of Financial Services.

Solana is a popular layer-1 blockchain that supports smart contracts and currently ranks among the top 10 cryptocurrencies by market cap.

The blockchain network supports a huge ecosystem of projects across decentralized finance, non-fungible token marketplaces, gaming, and meme coins.

The native token SOL reached an all-time high above $263, with its value up more than 305% in the past year.

Meanwhile, Pepe is a meme coin on Ethereum whose price has surged significantly in the past few months amid a broader market uptick.

Bitstamp will initially offer trading pairs against the U.S. dollar and the Euro. Per the exchange, traders can now access SOL/USD, SOL/EUR, PEPE/USD, and PEPE/EUR spot trading pairs.

The price of both SOL and PEPE rose amid this news, with the latter bouncing to highs of $247 as BTC reclaimed $98k. Meanwhile, the meme coin jumped to $0.000021 and was 6% up in the past 24 hours at the time of writing.

PEPE recently rose sharply after crypto exchanges Coinbase and trading app Robinhood listing.

Crypto.news: Crypto exchange OKX rolls out services in Belgium to strengthen European presence.

OKX expands its European footprint with a launch in Belgium, featuring free Euro deposits through a partnership with local payment provider Bancontact.

Seychelles-headquartered crypto exchange OKX has launched its services in Belgium, offering spot trading, conversion, and a range of crypto services through its exchange and wallet.

Belgian customers now have access to over 200 cryptocurrencies, including more than 60 crypto-euro trading pairs, along with Euro deposits and withdrawals, the company said in a Nov. 28 press release.

The exchange says the expansion in Belgium leverages Bancontact, Belgium’s online payment system, allowing customers to deposit funds instantly and free of charge. SEPA withdrawals and deposits are also available without fees.

Crypto exchange OKX rolls out services in Belgium to strengthen European presence

OKX Europe general manager Erald Ghoos says the launch in Belgium marks a “key step in our regional expansion, supported by a local team and tailored services that meet the unique needs of Belgian customers.”

The Belgian launch is part of OKX’s broader strategy to increase its presence across Europe. Earlier in 2024, the exchange debuted in the Netherlands and announced plans to establish a regulatory hub in Malta, where it secured a Class 4 Virtual Financial Assets license in 2021.

Crypto exchanges that accept PayPal

The exchange said it plans to list additional tokens for Belgian users as part of its ongoing product expansion, though details on this initiative are yet to be disclosed.

Bitcoin Reserve in UK Sparks Debate as Trump Drives Global Crypto Shift

Nigel Green, CEO of Devere Group, an independent wealth management and financial advisory organization, has called on the UK government to develop a national bitcoin reserve, likening the move to recent cryptocurrency initiatives seen in the U.S. under the incoming administration of President-elect Donald Trump.

UK Urged to Consider Bitcoin Reserve as Trump Leads Crypto Revolution

On Monday, Green underscored bitcoin’s potential to fortify the UK’s economic standing as its market value inches toward $100,000. He described the opportunity for Prime Minister Keir Starmer to spearhead a revolutionary financial strategy, remarking:

Bitcoin Treading Water Below $100,000 With Big Target In Sight

The U.S. — the world’s largest economy — is already moving in this direction. President-elect Donald Trump, now dubbed the ‘crypto president,’ has set the stage with his promise of a national bitcoin stockpile.

“His administration has catalyzed conversations around bitcoin’s role as a strategic asset, recognizing its potential to safeguard and enhance a nation’s economic power in an increasingly digitized global economy,” the Devere executive elaborated. “Senator Cynthia Lummis of Wyoming has laid out a bold vision, proposing that the US Treasury and Federal Reserve acquire one million bitcoins over five years to hold as part of a strategic reserve.”

Green cautioned that the UK cannot afford complacency in the race for economic innovation and autonomy. He contended that bitcoin’s unique traits, including its decentralized framework, finite supply, and resistance to inflation, establish it as a distinctive asset. “Holding Bitcoin as a strategic reserve could transform the UK’s fiscal strategy, offering a hedge against traditional market volatility and currency devaluation,” he stated.

Highlighting the chance for Prime Minister Starmer to cement a legacy in digital finance leadership, Green declared: “The establishment of a strategic Bitcoin reserve would be a bold, visionary step that aligns with the growing momentum in digital finance worldwide.”

Discussing the broader implications of a bitcoin reserve, Green detailed:

The benefits of a bitcoin reserve extend beyond simple asset appreciation. By holding bitcoin, the UK government could diversify its reserves, reduce reliance on traditional fiat currencies, and increase fiscal flexibility.

“Imagine a future where a fraction of the nation’s debt could be offset by the meteoric rise of its bitcoin holdings. This is not just a hedge but a proactive step toward economic resilience,” Green opined. “It would attract crypto entrepreneurs, blockchain innovators, and digital asset investors to Britain, creating jobs and promoting growth in one of the most dynamic sectors of the global economy.”

Green concluded by warning: “Global competition for tech leadership is fiercer than ever, the UK cannot afford to be a spectator. The US is already seemingly moving forward, and other nations are exploring similar strategies. If the UK fails to consider this, it risks being left behind in a financial landscape that is rapidly becoming digital-first.”

Bitcoin Treading Water Below $100,000 With Big Target In Sight? Bitcoin has spent the weekend so far trading well shy of the landmark $100,000 level, once again dashing enthusiasts’ hopes that the oldest digital assets would breach that significant financial and psychological threshold.

Bitcoin Treading Water Below $100,000

Cryptocurrencies ranging from Bitcoin to memecoins have been on a tear since the election of Donald Trump to a second term in the White House. Investors are betting on friendlier regulations in the US and an expansion of mainstream interest and awareness driven by the president-elect’s own avowed support for crypto. The crypto market as a whole has gained about $1 trillion since Trump’s election win.

But the momentum hasn’t quite been enough for the largest crypto token to set a major new milestone. While Bitcoin came within $300 of the $100,000 mark on Friday afternoon, it seemed unable to push past $99,000 on Saturday.

Inflection Point

Trump’s transition team has begun to hold discussions over whether to create a new White House post dedicated to digital-asset policy, Bloomberg reported earlier. Crypto is seeking a direct line to the president-elect, who has shaken off his earlier skepticism of digital assets and is now seen as an industry cheerleader.

This perceived inflection point in the official US attitude to crypto is filtering across Wall Street. Charles Schwab Corp.’s incoming Chief Executive Officer Rick Wurster said Thursday the firm will get into offering spot crypto trading once regulatory changes materialize.

 Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Bitcoin accumulator MicroStrategy Inc.’s plans to accelerate purchases of the token, and the debut of options on US Bitcoin exchange-traded funds, also lifted sentiment this week.

“We can focus on news that SEC Chair Gary Gensler will step down on Jan. 20, sizable inflows into the ETFs, and the role that options play in driving prices higher, but this is an out-and-out momentum rally, and $100,000 is acting as a magnet,” Chris Weston, head of research at Pepperstone Group, wrote in a note.

Advocates of Bitcoin’s claimed role as a modern-day store of value cherish the $100,000 level as a symbolic rebuttal of skeptics who see little utility in crypto and decry its links to crime. While the token has more than doubled in price this year, many experts still question its fitness for investment portfolios.

‘Very Volatile’

“Bitcoin is not something you can value,” Themis Themistocleous, EMEA chief investment officer at UBS Wealth Management, said on Bloomberg Television. “It’s very volatile, and we think you can have other hedges like gold in your portfolio that have proven to be much more effective.”

On Friday, a report from the US Federal Reserve sounded a note of caution about another popular type of digital token: stablecoins.

Stablecoins are typically designed to avoid the volatility for which other types of cryptocurrencies are known. “These digital assets are structurally vulnerable to runs and lack a comprehensive federal prudential regulatory framework,” the Fed said in its semi-annual financial stability report. More stories like this are available on bloomberg.com.