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Financial Author Shares When Bitcoin Will Hit $1 Million

Mark Brennan
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Financial Author Shares When Bitcoin Will Hit $1 Million

Investment strategist Lyn Alden has tipped Bitcoin to trade at $1 million per coin in the next decade.

Lyn Alden, the famous author of “Broken Money,” has set a lofty price target for Bitcoin. In an interview, she predicted the premier asset would hit $1 million in the next eleven years.

Alden asserted that a $1 million Bitcoin price is on the cards, considering the recent increased adoption around the crypto asset. The seasoned financial author further noted that she sees Bitcoin trading that high if it continues to be “the leader in digital assets and a portable store of value.”

$1 million by 2035 Feasible

Alden agreed with Ark Invest CEO Cathie Wood’s $1 million prediction call. However, she stated that her timeline was too aggressive.

For context, Wood speculated earlier that Bitcoin would hit seven figures by 2030. The Ark Invest CEO cited institutional traction towards the asset and the possibility that it would hit a $20 trillion market cap as reasons behind the call.

The Broken Money author stated that she feels Bitcoin would take longer than six years from now to trade at $1 million. According to her, 2035 would be more feasible for the asset to surge to seven figures.

Notably, the seven-figure Bitcoin speculation coincides with projections from other prominent players in the crypto industry. For instance, X (formerly Twitter) founder and ex-CEO Jack Dorsey tipped the largest crypto asset to hit $1 million by 2030. 

Aurelion Ohayon, the creator of the XOR trading machine, shared a similar sentiment, predicting that Bitcoin could spike to $1 million. However, he based his call on the prospect that the asset would repeat the immaculate upward trajectory it recorded between 2013 and 2017.

It bears mentioning that the hypothesis that Bitcoin would get to $1 million would entail a 1,667% surge from its current price of $60,000. Such price action is not new to Bitcoin, as the asset has grown by a much more substantial margin since its market debut in 2010.

Bitcoin Will Outperform Gold

Alden stated that she thinks Bitcoin will trump gold, the largest asset by market cap, in the future. Currently, gold is capped at $17 trillion, over 13 times the size of Bitcoin’s market cap.

The author sees both assets gaining more prominence in the future but states that Bitcoin will outperform the precious metal. Notably, gold has been on a bullish run recently, hitting an all-time high of $2,589 on Monday.

Furthermore, Alden asserted that not buying into Bitcoin at this point would be criminal. She noted that the best buy in the global market today was Bitcoin, as the premier asset has long-term potential for outrageous returns.

“Anyone in traditional finance that has no Bitcoin positions should have a Bitcoin position,” Alden added.

Analysts Divided on Shiba Inu Hitting $0.001 as Price Stays Flat

Albert Brown
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Analysts Divided on Shiba Inu Hitting $0.001 as Price Stays Flat

Shiba Inu (SHIB) continues to exhibit minimal price movement, leading to a division among analysts regarding its future.

Some predict a massive breakout, while others anticipate continued stagnation. Currently, Shiba Inu is trading at $0.00001327, reflecting a minimal 0.17% movement over the past month. The meme coin has been moving sideways since its major surge in March, where it experienced a more than 350% increase. 

Despite the excitement earlier in the year, SHIB’s price has since remained stable, with no substantial growth recorded in recent months. This stagnant performance has left investors waiting for another rally, while some analysts predict that the token may struggle to delete any zeros by 2025.

Shiba Inu Will Not Hit $0.001 Next Year

Various analysts have shared their perspectives on Shiba Inu’s future performance. One investor, E Obez, believes SHIB will not surpass $0.001, even if Bitcoin reaches as high as $90,000 by 2025.

The investor did not provide detailed reasoning for this outlook but compared SHIB’s projected growth to other tokens. 

Notably, Obez predicted that Ethereum (ETH) would rise above $5,500 by January 2025 when BTC attains $90K. He also outlined bullish expectations for some emerging crypto assets. However, for established meme coins like Shiba Inu and PEPE, he argued they would struggle with less impressive perfomance.

Contrasting Views

However, in contrast to this view, some analysts are more optimistic about SHIB’s growth potential. LuckSide, a well-known crypto analyst, forecasted that Shiba Inu could reach $0.001, driven by increased whale activity and strong on-chain indicators. 

According to LuckSide, SHIB is nearing a key phase in its long-term trend, and recent data points to increased whale involvement. In particular, the movement of over 3 trillion SHIB tokens by large holders within just two days and the withdrawal of $4 million in SHIB tokens from exchanges highlighted this activity.

Analysts Unanimous SHIB Can Still Rally 7,000%

Other analysts share LuckSide’s optimistic outlook. Krao, a TradingView analyst, expects a breakout in the Shiba Inu price soon. He believes that a breakout from a descending trendline, which has restricted SHIB’s growth since 2021, could propel the token to $0.001.

According to Krao’s analysis, if this rally materializes, SHIB could surge up to 7,379% from its current price level.

Similarly, Armando Pantoja of Benzinga’s crypto advisory board anticipates a 72X increase in Shiba Inu’s value, targeting the $0.001 mark. In August, he cited a bullish RSI divergence, suggesting that SHIB had entered a prime buying zone.

Pantoja projects that the meme coin could deliver a potential 7,193% gain from current prices, supported by Bitcoin’s halving event.

NEIRO Surges 1,711% to Break into Top 10 in Volume: Can It Reach $0.0010?

Albert Brown
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NEIRO Surges 1,711% to Break into Top 10 in Volume: Can It Reach $0.0010?

With a bullish trend and rising hype, is First NEIRO on Ethereum ready to prolong the uptrend for a new all-time high?

With a market cap of $368 million, the “First NEIRO on Ethereum” token increased 138% in the past 24 hours. Supporting the massive bull run, the trading volume over the past 24 hours has surged by 113%.

As trading volume hits the $833 million mark, the meme coin becomes the tenth biggest cryptocurrency based on trading volume in the market for today.

With a circulating supply of almost 420 billion NEIRO Ethereum, the meme coin has reached 99.79% of its total supply. Further, with a volume-to-market cap ratio of 231.20%, the meme coin is highly liquid despite being a new token in the market. 

First Neiro on Ethereum
First Neiro on Ethereum | CoinMarketCap

First NEIRO on Ethereum Eyes $0.0010

In the daily price action chart from Coinmarketcap, the first NEIRO on Ethereum token shows a triple white soldier pattern over the past three days. Starting the bull run on September 16, the meme coin increased by 808%, followed by a 91% surge on September 17. 

NEIRO Price Chart
NEIRO Price Chart

Currently, the meme coin is trading at $0.0008666, having surged 25% intraday from its opening price of $0.0006893. Notably, between September 12 and now, the meme coin boasts over 1,711% gain.

However, over the 4-hour chart on Binance, the first NEIRO on Ethereum shows a divergence between the bullish price trend and a declining volume trend. This reflects the possibility of a declining bullish pressure, which may lead to a minor pullback. 

NEIRO Price Chart
NEIRO Price Chart

Based on the price action levels over the 4-hour chart, the meme coin can find support at $0.00070, $0.00041, and the $0.00050 psychological mark. Optimistically, an uptrend continuation could reach the $0.0010 milestone. 

Rising Support For NEIRO

Hopping on the NEIRO trend, an early Shiba Inu investor has swapped 1,003 ETH tokens worth $2.3 million for 2.86 billion NEIRO tokens. Despite the recent surge of more than 15%, the whale shows confidence to hold the meme coin. 

Out of three recent trades, the whale experienced two losses, one on NEIROETH and the second on SHIB. However, the whale is now sitting on a $715,000 profit.

Further, supporting this bullish trend, Tron founder Justin Sun admires the meme coin rally amid a 650% surge following Binance’s listing.

$9 Trillion Firm Discusses Why Bitcoin Matters in Today’s Financial Landscape

Albert Brown
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As highlighted by the $9 trillion firm BlackRock, Bitcoin has positioned itself as a pivotal player in the financial landscape. 

In a recent publication, Blackrock noted that Bitcoin’s value is derived from several key attributes that distinguish it from traditional forms of money. 

These features have provided solutions to long-standing issues in the monetary system. Notably, Bitcoin’s supply cap of 21 million units ensures that it cannot be easily debased, offering a degree of stability in an inflation-prone world.

Additionally, its digital and global nature allows for near-instant, cost-effective transfers across borders, addressing the inefficiencies of cross-border value transfers.

Furthermore, Bitcoin’s decentralized structure and permissionless access give it a unique advantage, making it the world’s first open-access monetary system. Blackrock stressed that, unlike other financial systems, Bitcoin does not rely on central authorities, which opens up financial inclusion to a broader global population. 

BlackRock on Why Bitcoin is Relevant
BlackRock on Why Bitcoin is Relevant

Bitcoin’s Position Among Crypto Assets

While the broader crypto space has seen the development of other assets with diverse use cases, Bitcoin remains the most prominent, per the report. The analysis highlights that Bitcoin, due to its unique properties, has cemented its place as a global monetary alternative. 

The $9 trillion firm also notes that Bitcoin’s growth trajectory has been substantial over the decade, with its market capitalization surpassing $1 trillion despite fluctuations in its value. 

Bitcoin’s Growth and Correction Cycles

For instance, historically, Bitcoin has shown resilience, rebounding from multiple market corrections to achieve new highs. Blackrock went ahead to share a snapshot of the distinct growth and correction phases. 

From 2010 to 2011, Bitcoin experienced a 592x increase, followed by another 555x surge from 2012 to 2014. Subsequent rallies continued in 2016-2018 and 2019-2021, driving Bitcoin’s value to new peaks.

However, each of these price rallies were followed by notable corrections. An example is the 2019 / 2022 rally, followed by a 77% drop. The most significant correction recorded in a cycle was in 2011/2012 when Bitcoin tanked by 93% after a 592X surge.

Meanwhile, Bitcoin boasts a cumulative return of 807,000X through 169 months.

BlackRock on Bitcoin Historical Perfomance
BlackRock on Bitcoin Historical Performance

Low Correlation With Equities

BlackRock’s report also emphasizes that Bitcoin has demonstrated a low correlation with other macroeconomic factors, setting it apart from traditional financial assets. Although short-term spikes in correlation occur during market volatility, Bitcoin remains largely independent of equities and other risk assets. 

Recall that the U.S. Department of Justice subpoenaed Nvidia in early September, sparking a 10% plunge in its stock and triggering a 2.16% drop in the S&P 500.

This marked one of 2024’s worst trading days as large-cap tech giants faltered. However, Bitcoin weathered the decline better than during the previous month’s market crash.

Cardano Welcomes Gold Tokenization as EMURGO Partners with Kinka Gold to Launch XNK

Abdulkarim Abdulwahab
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Cardano Welcomes Gold Tokenization as EMURGO Partners with Kinka Gold to Launch XNK

Gold tokenization is set to launch on Cardano through a partnership between founding partner EMURGO and Kinka Gold (XNK), a subsidiary of a Japan-based neo-finance services firm.

EMURGO announced the latest collaboration in an official press release today. The report revealed that Cardano’s blockchain ecosystem will soon integrate its first major gold-backed token, XNK, with EMURGO serving as its technology partner.

Gold Tokenization Coming to Cardano

Notably, the rapid growth of blockchain adoption is transforming the financial landscape. As institutions worldwide increasingly recognize the potential of on-chain economies to disrupt traditional money markets, there is a growing focus on using reserve-backed and representative tokens.

Kinka’s XNK token is gold-backed, as every ounce represents premium Japanese gold that satisfies the highest LBMA standards. This gold is earmarked for use on the Osaka Exchange and stored globally in bankruptcy-remote vaults.

The launch of XNK on Cardano’s blockchain ecosystem has the potential to be a game-changer. It will enable the creation of other real-world asset (RWA) tokens and provide a stable, gold-pegged currency that can be used in jurisdictions that do not permit traditional fiat-backed stablecoins.

Moreover, the integration of gold into Cardano’s DeFi ecosystem could significantly increase its liquidity and use cases. This development could further accelerate the growth of on-chain economies and cement Cardano’s position as a leading blockchain platform.

EMURGO’s Back-to-Back Partnership for Cardano Adoption

EMURGO, a driving force behind the advancement of Cardano and Web3 technologies, has reaffirmed its commitment to bridging the gap between traditional assets and the network through its latest collaboration with Kinka. 

 

EMURGO is unlocking new potential for real-world asset tokenization by supporting the technological foundation of a gold-backed digital asset on the Cardano blockchain.

“Through our partnership with EMURGO, we are poised to revolutionize the way people own and utilize gold,” said Chris Lane, Director of UNBANKED, the parent company of Kinka.

Moreover, Lane cited Cardano’s low transaction fees and vast community support as key factors in driving the growth of the on-chain movement.

To facilitate the issuance of its gold-backed tokens on the Cardano blockchain network, Kinka Gold will utilize EMURGO’s tokenization platform. This solution enables the transformation of real-world assets into digital tokens.

Notably, this partnership follows EMURGO’s recent collaboration with Zilliqa to enhance blockchain interoperability with Cardano’s technology. The aim is to improve security through liquidity channels across both ecosystems.

Additionally, Zilliqa will integrate EMURGO’s Web3 tools, including stablecoins, to facilitate asset tokenization on its platform. Before this, EMURGO had joined forces with Antler to draw global investors to Cardano’s ecosystem.

Ripple CLO Says Ripple Will Be the Most Trusted Source for Enterprise Support When Regulatory Cloud Is Lifted

Mark Brennan
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Ripple CLO Says Ripple Will Be the Most Trusted Source for Enterprise Support When Regulatory Cloud Is Lifted

Ripple Chief Legal Officer Stuart Alderoty makes a bold claim about Ripple’s prominence in the crypto industry.

In a Tuesday discussion at the Financial Markets Quality (FMQ) Conference, Alderoty revealed that Ripple is working on all fronts to be the one-stop shop for cryptocurrency innovation globally.

The CLO believes that the US would appreciate Ripple’s progress over the course of its existence, stating that the cross-border payment giant would become the most trusted source for enterprise support when cryptocurrencies see a clearer regulatory environment.

Ripple Buiding on Three Pillars

Alderoty stated that Ripple has advanced its stead as a leading crypto industrial player by maximizing its presence on three major fronts. He said that aside from cross-border payment, Ripple’s core product, it has diversified into asset custody and stablecoin issuance.

In January, Ripple’s CTO, David Schwartz, revealed that the payment giant is entering the $10 trillion crypto custody market by acquiring Metaco. The fintech giant also forged a partnership with British bank HSBC.

Since then, Ripple has furthered its relevance in the sector, with South Korean-based AI firm Futureverse choosing the fintech firm as its asset custody provider.

Furthermore, Ripple’s stablecoin, RLUSD, is set to launch over the next few weeks. Schwartz has tipped the stablecoin to provide transactional options for its institutional clients while fostering the adoption of the XRP Ledger and its native token, XRP. 

Ripple is also advancing its presence in the real-world asset (RWA) tokenization sector with a strategic partnership with UK-based Archax. The partnership will see the British bank tokenize millions of RWAs on the XRPL.

With all these growing innovations, Alderoty believes that Ripple has positioned itself as the go-to firm for US institutions looking to adopt cryptocurrency. Hence, regulatory clarity is the only obstruction to Ripple’s dominance in the country.

Crypto is Here to Stay: Alderoty

Alderoty added that cryptocurrencies are not a “flash in the pan” but an innovation that has come to stay. He noted that the US Securities and Exchange Commission’s clampdown on the crypto industry would not stunt its growth.

The Ripple CLO stated that he has seen a significant improvement in the Democratic and Republican presidential nominees’ disposition toward cryptocurrencies. Alderoty revealed that Ripple has been in talks with both parties and is optimistic that the US will see a clearly regulated crypto industry regardless of who wins the election.

As Bitcoin Remains Above $60k, Buyers Target $66K Amid Rate Cut Speculations

Albert Brown
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As Bitcoin Remains Above $60k, Buyers Target $66K Amid Rate Cut Speculations

With Bitcoin price sustaining above $60,000, bulls target the $66K level amid rate cut speculations.

As the BTC price rises above the $60,000 level, bullish sentiments are improving, with rising speculation of a potential rate cut in today’s FOMC meeting. The Bitcoin price currently trades at $60,236, with a minimal intraday move following yesterday’s 3.61% jump.

With the chances of a 500 basis point cut in interest rates, will Bitcoin’s head-and-shoulder pattern reach the $66,590 mark? 

Bitcoin Recovery Teases $61K Break

With a recovery run in the 4-hour chart, the BTC price action shows an inverted head-and-shoulder pattern. The recovery run with the bullish pattern teases an uptrend in Bitcoin as the broader market sentiments are improving.

Bitcoin Price Chart
Bitcoin Price Chart

The bullish jump creates an engulfing candle in the daily chart, undermining the 3-day bearish pullback over the weekend and Monday. 

The 4-hour chart’s recovery run and the bullish engulfing candle of the daily chart complete the right shoulder of an inverted head-and-shoulder pattern. As the minor pullback retests the bullish breakout, the uptrend chances with a post-retest reversal for Bitcoin increase. 

Bitcoin Price Chart
Bitcoin Price Chart

Based on the Fibonacci levels of the daily chart, the next resistance level is the $61,613 support resistance level at 23.60%, with the target at $66,600. 

Bitcoin ETFs Buy More 

Supporting the bullish recovery, the Bitcoin ETF market witnesses a surge in inflows. Yesterday, the U.S. Spot Bitcoin ETF market registered the fourth consecutive bullish day with an inflow of $186 Million. 

Bitcoin Spot ETFs
Bitcoin Spot ETFs

Amid the recovery day, Grayscale’s Spot Bitcoin ETF protects the Bitcoin held with zero flow. Further, the Bitwise and Fidelity ETFs fueled the growth with $45.4 million and $56.6 million inflows, respectively.  

BTC Price Targets 

Based on the price action levels of the 4-hour chart, the next resistance levels above the $61,451 ceiling are $64,596 and $66,590. Meanwhile, the base supports are at $60,000 psychological support, followed by the $57,681 horizontal level. 

The MACD indicator in the 4-hour chart gives a bullish crossover with a surge in the positive histograms. 

Shiba Inu: Liquid Staking Launch on Shibarium Confirmed

Mark Brennan
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Shiba Inu: Liquid Staking Launch on Shibarium Confirmed

The long-anticipated liquid staking protocol from K9 Finance will debut on the Shiba Inu ecosystem’s layer 2 scaling network, Shibarium, today.

The Shiba Inu ecosystem announced that the liquid staking derivative (LSD) will launch on Shibarium in partnership with K9 Finance. Per an X post, the integration will occur by noon on Wednesday.

Liquid staking features on the Shiba Inu ecosystem will disrupt the traditional staking procedure on the blockchain. Users can now stake their BONE and earn rewards while maximizing their staked tokens. With K9’s staking dApp, users can convert their staked BONE to knBONE for utility within the Shiba Inu ecosystem.

Per the official announcement, the liquid staking feature will bring two significant advantages to the Shiba Inu ecosystem. The integration will boost the total value locked (TVL) and transaction volume on the Shibarium network. Consequently, a surge in these metrics would increase the burn rate of SHIB.

K9’s Liquid Staking to Boost Shibarium

The LSD feature has been tipped to substantially boost Shibarium and the wider Shiba Inu ecosystem. According to K9’s pseudonymous founder, Buzz, TVL on the Shibarium network could increase by 50 times.

He claimed that TVL on Shibarium would hit $50 million if BONE stakers reached an average industrial standard. This would materialize if all users staking BONE do so on the K9 LSD dApp. Notably, the TVL on the layer 2 platform currently stands at $1.19 million, according to DeFiLlama.

The new staking procedure would also significantly boost transaction volume on Shibarium. Since users could get the exact amount of staked BONE, they could use the issued knBONE token for trading activities, increasing the volume on the network.

Furthermore, burn activities for SHIB would improve considerably. With increased trading activities, transaction fees would also grow. Hence, more SHIB tokens will be incinerated, reducing the token’s circulating supply.

Debut to Drive Price

Meanwhile, the liquid staking launch could drive the SHIB price as bullish sentiments around the asset swell. SHIB recently broke out of a falling wedge, with analysts tipping the token to surge 432% to $0.000081.

With buzzing sentiments around the K9 launch, the SHIB price could see higher prices. At press time, Shiba Inu is trading at $0.00001326, down less than 1% in the past 24 hours.

Early Shiba Inu Buyer Who Made $145M in 2021 Buys NEIRO with 1,003 ETH

Albert Brown
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Early Shiba Inu Buyer Who Made $145M in 2021 Buys NEIRO with 1,003 ETH

An early Shiba Inu (SHIB) investor has recently been making strategic moves as prices struggle alongside the rest of the crypto market.

Despite once profiting significantly from SHIB, the whale with the address 0x761 is shifting focus to other tokens, particularly Fetch.AI (FET) and Neiro on ETH, in an attempt to recover from recent losses.

Whale Swaps Ethereum for NEIRO

One of the whale’s most recent transactions involved swapping 1,003 Ethereum (ETH), worth $2.31 million, for 2.86 billion NEIRO tokens. This exchange took place during a period when NEIRO experienced a significant 17-fold price increase. Despite this surge, the whale’s recent trading history shows mixed results. 

For instance, while they previously made $145 million from Shiba Inu between 2021 and 2022, more recent moves have resulted in substantial losses. Specifically, two out of three of their recent trades, including one involving SHIB and another involving Neiro on ETH, have led to a combined loss of $13.48 million.

SHIB-to-FET Swap Results in Profit

However, the whale’s strategy seems to have taken a positive turn in August, when they swapped a portion of their SHIB holdings for FET. On August 30, the investor exchanged 255.62 billion SHIB, valued at $3.5 million, for 3.114 million FET. 

This move has proven fruitful, as the whale held an unrealized profit of $715,000, or a 20.7% gain, thanks to a 14% rise in FET’s value by August 31. Notably, this swap came after the whale’s SHIB holdings had suffered a 45.9% loss since June 2024, resulting in a loss of $11.51 million.

Buyer’s Current Holdings 

As of now, the whale’s portfolio remains diverse. The largest portion consists of 4,960 ETH, valued at $11.537 million, making up 43% of their holdings. Meanwhile, they still retain a significant SHIB position, with 477.511 billion SHIB worth approximately $6.332 million, accounting for 24% of the portfolio. 

The whale’s FET holdings, now valued at $4.235 million, make up 16% of their portfolio. Lastly, their NEIRO and NEIROETH positions, valued at $2.279 million and $1.268 million, respectively, make up a smaller yet notable portion of their overall investments.

As Bittensor (TAO) Eyes $340, Will the Triangle Breakout Propel It Above $400?

Albert Brown
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As Bittensor (TAO) Eyes $340, Will the Triangle Breakout Propel It Above $400?

Trapped in a symmetrical triangle pattern during consolidation, will a breakout above $340 for Bittensor (TAO) lead to a bull run toward $475?

AI tokens are trending as the broader market bounces back with a surge in rate-cut speculations. Amid a fresh recovery run of AI crypto tokens, Bittensor prepares a breakout run in the daily chart. 

Will this breakout run in Bittensor lead to a new swing high, surpassing the $400 mark? 

Bittensor Trapped in a Triangle

With a long-coming downtrend in the daily chart, the Bittensor token witnesses a massive correction. It fell from a peak closing price of $731 earlier this year to a yearly low of $165 on August 5, reflecting a substantial 77% decline during this bear market.

Bittensor Price Chart
Bittensor Price Chart

However, the Bittensor token has stabilized around the $219 mark, as underlying demand keeps prices above $200. Currently, the sideways trend above the $200 support is creating a symmetrical triangle pattern that holds the momentum trapped. 

Currently, the token is showing signs of a double-bottom reversal from the $219 level, potentially signaling the start of a new bullish cycle aimed at challenging the overhead trendline, which has already resisted four breakout attempts.

Despite these efforts, the resistance trendline remains intact, continuing to confine the price action within the triangle. As of now, the TAO token is trading at $322, following a bullish engulfing candle from last night that resulted in a 12.37% surge. Today’s intraday candle has formed a Doji, indicating indecision near the overhead resistance.

Will Bittensor Price Surpass $400?

As the Bittensor token’s sideways trend continues, the upper and lower Bollinger Bands are converging, signaling that the altcoin may be approaching a breaking point.

The MACD indicator shows a bullish alignment, with the MACD and signal lines supporting each other, accompanied by an increase in histograms.

According to Fibonacci levels, the overhead trendline coincides with the 23.60% retracement at $340. A bullish breakout could target the 38.20% and 50% levels at $415 and $475, respectively.

On the downside, the 20-day EMA of the Bollinger Bands at $279 and the $219 support level are key areas of demand.

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