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Bitcoin’s big leap ahead? Analysts say $100K could be within reach early next year—learn what’s driving this bullish momentum!

Here’s what we got for you today:

• 🗣️ Bitcoin nearing $100K? 10x Research says it’s possible in 2025!

• 🤯 Binance unveils the risks behind meme coins!

• 🧱 Around The Block: Binance targets Thailand as key market for crypto expansion.

🗣️ Bitcoin Nearing $100K? 10x Research Says It’s Possible in 2025!

Cryptocurrency analytics firm 10x Research has predicted that Bitcoin could break the $100,000 mark early next year.

This bold prediction hinges on historical data!

Just last week, Bitcoin came very close to vanquishing its all-time high of $73,737 and hit a new six-week high in the process.

And according to analysts at 10x Research, occurrences like these have historically preceded a median return of 40% over the next three months.

If Bitcoin’s price is $72,000-$72,500, a 40% increase could catapult it over the coveted $100,000 mark!

However, since these estimates, Bitcoin has fallen dramatically to $68,575.13 as of this writing.

But things change quickly with Bitcoin, so who knows?🤷‍♀️

The analysts also pointed out fascinating factors fueling Bitcoin's potential rise.

One is the "Bitcoin black hole effect," which describes how Bitcoin’s dominance and attention rise with each cycle and the value it draws away from altcoins.

Institutional giants stocking up on Bitcoin is also a plus!

For example, ETFs scooped up $4 billion worth of Bitcoin in October alone, and as of this writing, BlackRock’s iShares Bitcoin Trust ETF is the largest Bitcoin fund with assets over $26 billion.

Analysts also saw a high possibility of MicroStrategy Inc. being added to the blue-chip S&P 500 index, which could send its stock value skyrocketing.

Furthermore, a shift in accounting rules allowing companies to report their crypto holdings at fair value could inspire more firms to add Bitcoin to their balance sheets.

So, could all this lead to a record-breaking January 2025 for Bitcoin? Only time will tell.

Read the whole story for more insights here.

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🤯 Binance Unveils the Risks Behind Meme Coins!

Binance has just dropped a major reality bomb on the meme coin market.

According to their report titled “Understanding the Rise of Memecoins,” by Josh Wong, a staggering 97% of meme coins have seen significant drops in trading volume.

And when we say “drop,” we mean like a rock sinking straight to the bottom of a pool!

Shocking, right? Well, this stark reality highlights just how risky and manipulated this space can be.

So, what’s really shaking up the meme coin world?

It turns out these coins are popping up everywhere thanks to their simplicity, accessibility, and the alluring promise of quick cash.

Believe it or not, over 75% of the meme coins on the market launched just last year, capturing investor attention at a dizzying pace that outstrips even traditional cryptocurrencies!

But as the report warns, that rapid rise is also what makes them so perilous.

Take WIF, for instance. This token skyrocketed to a $1 billion market cap in a mere 104 days, which frankly is quite the sprint compared to the eight-year-long marathon Dogecoin ran to get there.

The hard truth is that most of these tokens fizzle out just as quickly, with only a few, like DOGE and SHIB, managing to stick around.

While the temptation of quick gains from this meme coin frenzy is strong, Binance urges caution.

They emphasize that these coins thrive almost entirely on hype, making them prime targets for pump-and-dump schemes that can ensnare unsuspecting retail investors. 

Sure, there’s potential for rapid profits, but the risks are equally daunting.

For every DOGE that manages to survive, there are dozens of meme coins that are here today and gone tomorrow.

So, their advice is to approach this market cautiously—it’s not for the faint of heart!

Check out the full report; there’s a wealth of information you’ll be glad to uncover.

🧱 Around The Block

• Binance targets Thailand as key market for crypto expansion.

• Crypto firms including Robinhood, Kraken launch global stablecoin network.

• US presidential winner prediction market crosses $3 billion on Polymarket a day before the election.

• Deutsche Telekom to pilot Bitcoin mining scheme using surplus energy.

• Coinbase hit with $300M token listing allegations by Sun, Cronje.

• $2,200,000,000 of institutional money flows into crypto products amid election ‘euphoria.’

• BlackRock’s tokenized fund BUIDL reportedly expands to Avalanche.

That's all we've got for you today.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.