Monat: November 2024

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Bitcoin tops $98,000 as rally gains momentum

  • Bitcoin has jumped to $98,370, its highest-ever price as bulls target $100,000.
  • The flagship cryptocurrency has rallied higher since Donald Trump’s re-election on Nov. 5

Bitcoin’s march towards $100,000 continued Thursday as the benchmark crypto asset broke past $98,000 for the first time ever.

Having hit $97k earlier in the day, BTC showed no mercy to the bears as its price stormed to a record high of $98,370 on Coinbase. At the time of writing, the cryptocurrency traded higher by 5.5% in 24 hours, pushing the asset’s market cap to above $1.94 trillion.

Analysts: “parabolic” phase begins after Bitcoin breaks $100k

Market conditions, helped by the demand for spot Bitcoin ETFs and the just launched ETF options, are suggesting the digital asset’s value is poised for a major breakout above $100k. Analyst Ali Martinez shared the chart below suggesting a bull flag pattern breakout.

Overall, Bitcoin price has jumped more than 30% in two weeks and by more than 46% in the past month. Notably, the world’s largest cryptocurrency has been on a tear since early November, when it began to rise as the US election neared.

On Nov. 5, BTC broke above $69,000 amid projections for a Donald Trump win. The decisive results only fueled bulls further, with the president-elect’s pro-crypto stance adding to the optimism.

In recent days, its Trump’s picks for his cabinet that have fueled fresh belief that the US crypto space is set for a complete flip from the last four years’ outlook.

With interest in BTC just getting onto the mainstream stage, analysts are saying the big FOMO begins when Bitcoin breaks out above $100k.

Read more: Donald Trump’s transition team considering first-ever White House crypto office

The post Bitcoin tops $98,000 as rally gains momentum appeared first on CoinJournal.

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Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum

  • JustGiving now accepts over 60 cryptocurrencies for people to donate with
  • 94% of crypto users are Millennials and Generation Z
  • More than $2 billion has been donated to charitable causes over the past five years

UK-based fundraising platform JustGiving is teaming up with The Giving Block, a digital asset company, to start accepting crypto donations.

JustGiving now allows users to donate in more than 60 cryptocurrencies, including Bitcoin, Ethereum, Tether, and Doge, according to a report from UK Fundraising. The move comes as the crypto market is experiencing a surge in value, with Bitcoin recording a new all-time high of over $94,000 yesterday on CoinMarketCap.

According to JustGiving’s website, over the past 24 years, the fundraising platform has raised $7.2 billion (£6 billion) and is trusted by thousands of charities worldwide, including the Alzheimer’s Society, the British Heart Foundation, Macmillan Cancer Support, and Mind.

Pascale Harvie, President and General Manager of JustGiving, said:

“In recent years there has been a surge in the use of cryptocurrencies and our decision to enable cryptocurrency donations is the latest demonstration of our commitment to forward-thinking innovation.”

Tapping into a tech-savvy demographic is also key. According to JustGiving, 94% of crypto users are Millennials and Gen Z.

Alex Wilson, co-founder of The Giving Block, said that “charities need to tap into this new donor demographic,” adding:

“580 million people now use cryptocurrency around the world and the market is worth nearly $3 trillion. Our goal is to make accepting cryptocurrency donations just as easy as taking any other online donations.”

In a 2024 Annual Report from The Giving Block, it noted that more than $2 billion has been donated to charitable causes over the past five years.

The post Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum appeared first on CoinJournal.

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Donald Trump’s transition team considering first-ever White House crypto office

  • Trump’s team is considering creating a White House role dedicated to crypto policy.
  • The proposed “crypto czar” would provide direct access to the President for the industry.
  • Donald Trump’s past promises include ending the SEC crypto crackdown and a Bitcoin reserve.

As President-elect Donald Trump prepares to take office, there are reports that his transition team is actively exploring the creation of the first-ever White House position dedicated to cryptocurrency policy.

According to a Bloomberg report, discussions are underway about appointing a senior figure to oversee the growing digital assets industry and its regulation at the highest level of government.

The proposed role, often referred to as a “crypto czar,” would provide the crypto industry with a designated point person at the White House, offering a direct line to the President.

If established, this position would serve as a liaison between the digital assets sector, Congress, and key regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Industry advocates are pushing for the role to be one with significant access to Trump, ensuring that the industry’s concerns are heard at the highest levels of power.

Though no final decision has been made regarding the creation of the role, Trump’s team has reportedly consulted with several leaders from the crypto space, including Brian Brooks, the former CEO of Binance.US, and Brian Armstrong, the CEO of Coinbase.

These discussions signal the potential for significant changes in the way the U.S. government engages with the cryptocurrency industry.

Trump’s support for crypto has been evident since his campaign, where he promised to end the SEC’s crackdown on digital assets and even proposed the establishment of a federal strategic Bitcoin reserve. His appointments, including that of Howard Lutnick to head the US Department of Commerce, further reflect his engagement with the sector, though Lutnick’s position holds less influence over crypto regulation.

The crypto czar role would allow the White House to more effectively address the complexities of cryptocurrency regulation, giving the digital assets industry a more structured and prominent voice in policymaking.

As Trump moves closer to taking office, the creation of such a position would mark a pivotal moment for the US crypto landscape.

The post Donald Trump’s transition team considering first-ever White House crypto office appeared first on CoinJournal.