Author: Cointelegraph; Compiler: Felix, PANews
MicroStrategy founder and Bitcoin bull Michael Saylor ruled out the possibility of Bitcoin pulling back to $60,000 (it has been hovering at $60,000 for most of 2024).
"I don't think Bitcoin will pull back to $60,000, let alone $30,000, it will rise from the current price," Saylor said in an interview with CNBC on November 14. According to CoinMarketCap data, Bitcoin is trading at around $89,168.
Saylor said that Trump's victory "clarified" the future of cryptocurrencies and Bitcoin in the United States, adding, "I really don't see any bearish factors in the short term."
"I'm planning a party for when Bitcoin hits $100,000," Saylor said. "I think it might be before my New Year's party at my house, so I'd be surprised if Bitcoin didn't exceed $100,000 in November or December."
In line with Saylor's views, Material Indicators co-founder Keith Alan said that Bitcoin has the potential to reach $100,000 before November 28 or Thanksgiving in the United States.
Nevertheless, CryptoQuant CEO Ki Young Ju warned on November 9 that Bitcoin could end the year below $59,000, citing an overheated futures market as one of the main reasons for his prediction of a year-end plunge.
Bitcoin price; Source: CoinMarketCapSome traders said that although volatility may continue, they believe that Bitcoin will continue to rise.
Anonymous crypto trader Ash Crypto said in a post on November 14: "High volatility is expected to lead to more liquidations, but overall, the price trend will break new highs upward."
Financial analyst Rajat Soni also said on November 14 that he "doesn't care about the price" when buying Bitcoin because "each purchase increases purchasing power." ”
Saylor also commented on speculation that U.S. SEC Chairman Gary Gensler will resign after Trump takes office, saying that whoever takes over the position will play the "most critical role" in the cryptocurrency industry.
"I think this is incredibly positive for digital assets and very good for the crypto industry. We will see more policies that support Bitcoin, we will see a digital asset framework, and we will see the end of the crypto litigation war."
Meanwhile, at the Digital Assets and Artificial Intelligence Infrastructure Conference on November 13, Saylor declared the U.S. Bitcoin Strategic Reserve Act to be the "greatest deal of the 21st century." If passed, the bill would set a goal for the U.S. government to accumulate 1 million bitcoins within five years, which is about 5% of the total supply of bitcoin.
"If we don't pass this bill, what we're doing is leaving the existing Bitcoin on the balance sheet, which is worth $3 trillion." If the bill passes, "as currently drafted, it would bring $16 trillion in benefits to the United States over 21 years." "If they decide to double the maximum limit on Bitcoin, it would bring $30 trillion in benefits." However, Galaxy Digital founder Mike Novogratz said it was "very unlikely" to fulfill his promise to establish a strategic reserve of Bitcoin during Trump's term.
Xiao Sa's legal team said that Chinese law clearly stipulates that cryptocurrencies are not legal tender, but their property attributes and value make them the object of property crimes in judicial practice, and thus can constitute occupational crimes.
AlexUS media said that under China's Bitcoin ban, cryptocurrency miners were driven out of China, and now they are draining the United States and consuming the country's huge energy.
MiyukiNubank, the largest digital bank in Brazil in which Buffett holds a stake, announced that it would stop trading its cryptocurrency Nucoin, and customers would have 90 days to exchange it for Bitcoin or USDC stablecoin.
WeiliangX Empire is introducing pre-market trading using custom NFT vouchers for its upcoming token, allowing players to trade these vouchers on the Getgems marketplace before the official token launch. The game offers complex gameplay and minting options, with NFT vouchers costing around $36 and a 20% royalty supporting token liquidity.
AnaisEuropean regulators are investigating Google's AI model, PaLM2, for potentially violating strict data privacy laws in the EU. Ireland's Data Protection Commission is focusing on whether Google properly assessed the risks of processing personal data with its AI.
WeatherlyOpenAI is seeking $11.5 billion in funding, aiming for a $150 billion valuation, with key investments from Thrive Capital, Microsoft, Apple, and Nvidia. This funding will support its growing AI operations and maintain its competitive edge in the rapidly evolving AI industry.p it competitive in a growing tech landscape.
AnaisDonald Trump’s digital trading cards have become a target for cybercriminals, who are using fake websites and phishing emails to steal personal and financial information.
WeatherlyFred Thiel, CEO of Marathon Digital, a U.S. cryptocurrency mining company, said that Bitcoin mining is a national security issue. Russia has mined 54,000 bitcoins under U.S. sanctions, and the Putin government has received huge tax revenue.
AlexThe British government has submitted a bill to Parliament hoping to classify cryptocurrency assets as a new form of property, which could generate £34 billion in revenue each year.
MiyukiCryptoQuant analysis shows that Bitcoin's trend is decoupled from gold, investors seem to favor gold, and cryptocurrencies continue to be in a bearish phase.
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