Bits.ca – Bitcoin & Crypto Currency News & Resources

I've been dabbling into crypto on/off for a few years now, but more than the financial side of it (I mean, yes, I'd like to make good money, but...) I've been keen on understanding the personal and social phenomenon: what makes people feel crypto is for them? What's been your "a-ha!" moment in crypto? What (or who) has made you confident enough to give it a try? To me personally it's been a mix of curiousity, wild dreams... and finding "healthy" communities such as Nano and Banano, they've been helping me a lot a newbie 🙂 submitted by /u/Brave_is_Great [link] [comments]

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The "inverse cc strategy" has been thrown around as a joke on this sub for a while now. For those that are un-aware of it - the idea is that the collective voice of this sub generally makes bad trading / investment decisions in crypto, and if you were to do the exact opposite each time, you'd basically be printing money. So if r/cc says solana sucks, you know you've got yourself a winner. To test this, I've built an open source crypto trading bot that measures this subreddit's sentiment on most coins and places trades whenever it detects a coin as having a negative sentiment. After a considerable amount of time trying to figure out how that would work, I am stoked to say that I finally have a working prototype of this bot. Not only that, but I also made extremely easy to reconfigure and redeploy this bot on any other subreddit so it can be used for more than just inverse cc trading. The tool is open source and technically complete, the only thing that I still need to build into it is a reporting mechanism. Right now it just saves trades in a PSQL database so running reports would be a manual process. I also want to add performance charts. https://preview.redd.it/80uiqos6kmwc1.jpg?width=1400&format=pjpg&auto=webp&s=43328f861e04348b505cb62a25471c0977d8069c It also needs a bit of tweaking on the sentiment service as it seems to be a bit too sensitive now (BTC should have never made the cut). Outside of trading, it can also be used to just quickly gauge today's sentiment on this sub, for instance, some of today's sentiment is: https://preview.redd.it/i5e2qam6mmwc1.png?width=1789&format=png&auto=webp&s=929c22bd541195abc466cf7489f580bc9b2b2408 The sentiment range is between 1 and -1 where everything above 0 is positive. Anyway, my next step is to add some reporting to it so I can update you all on the performance. ​ If you're interested in playing around with it or contributing to the codebase, here's the GitHub repo. And if you want to understand how it actually works, I've documented it all in this article. ​ That's about it! 🙂 submitted by /u/CyberPunkMetalHead [link] [comments]

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The market is forward thing: we had non-stop pump in the stock market, it will correct. Since the crypto market is tied to the stock market, crypto will correct a bit harder summer is vacation time, traders, financial people and almost everyone else go into vacation....therefore no real market action is expected last year 6 interest cuts were priced in by the market, now the market priced in 1 single cut...some FED officials even say it could happen in 2025 Now we're dipping and moving sideways. This is actually very good. Good discount prices to enter the market. Fall and winter 2024/ early 2025 will be very bullish. Many "experts" project that we're reaching 100k eoy. 100k eoy 2021 never happened, but 100k eoy 2024 is on the table. submitted by /u/LisHere321 [link] [comments]

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Yesterday, April 24, 2024, the founders of Samourai Wallet were arrested on charges of money laundering and providing unauthorized money transmission services. The arrests followed an investigation by the U.S. Department of Justice, with one of the founders arrested in Portugal thanks to cooperation from European law enforcement authorities. Although investigations began around 2022, it is no coincidence, in my opinion, that the founders of Samourai were arrested at this particular historical moment. The attack on Samourai has a political nature. The U.S. government does not care about money laundering; they are the first to launder money. They are interested in preventing substantial leaps forward in financial privacy (and thus freedom) that would limit their ability to extract resources from the masses of tax-paying slaves. Read more here: https://theprivacychronicles.substack.com/p/samourai-wallet-founders-arrested submitted by /u/murakami000 [link] [comments]

Utilizing Vertex AI from Google Cloud, the analyst team at Spot On Chain has conducted rigorous modeling to forecast Bitcoin's price movements. Here's a concise breakdown of their predictions: Short-Term Outlook (May-July 2024): They anticipate Bitcoin prices to fluctuate between $56,000 and $70,000 during May, June, and July 2024. This interval signifies potential volatility in the market, with a notable 48% probability assigned to the scenario where BTC prices might dip below $60,000. Such forecasts indicate a cautious approach, acknowledging the possibility of short-term fluctuations or corrections in the price. Mid-Term Projection (Second Half of 2024): ​ In the latter half of 2024, they expect significant movement, with a 63% probability of Bitcoin reaching $100,000. This forecast signals a bullish sentiment prevailing in the market, further fueled by the anticipated rate cuts after the FOMC's December 2023 meeting, aiming to bring the federal funds rate down to 4.6%. These cuts may boost demand for risk-on assets like stocks and Bitcoin. Fig 1. Equities (proxied by S&P 500) and Bitcoin have been positively correlated. Fig 2. S&P 500 tends to rise after the FED cut rates. Long-Term Perspective (First Half of 2025 and Beyond): Looking further ahead, into the first half of 2025, they notice a compelling probability of BTC surpassing the $150,000 threshold. Specifically, there is a 42% chance assigned to this scenario, reflecting a bullish outlook for Bitcoin's price trajectory. Moreover, the likelihood of Bitcoin exceeding $150,000 amplifies to 70% when considering the entire year of 2025. Fig 3. A new all-time high tends to be seen around 6 to 12 months after the halving event. Methodological Considerations: The SpotOnChain's analyst team built the models upon a comprehensive dataset, encompassing various historical trends and market drivers. Factors such as Bitcoin halving events, interest rate cycles, ETF performance, VC adoption of new cryptocurrencies, and Bitcoin miner selling pressure history are meticulously incorporated into the models. However, it's essential to acknowledge the inherent limitations and uncertainties associated with predicting the future of Bitcoin. In conclusion: This forecasts provide valuable insights into Bitcoin's potential price trends, aiding investors in navigating the cryptocurrency market, but should not be construed as guarantees of future performance. Will Bitcoin halving history repeat itself this time? You can find all the source related to the post here: https://platform.spotonchain.ai/en/signal-details/bitcoin-etf-net-inflow-update-on-april-24-2024-98177 ​ submitted by /u/nakasatoshi [link] [comments]