📉 BOJ Knocks BTC

Robbery, Indicators & More                                                                                                                                                                                                                                                                                                                                                                                                                 September 03, 2024 | [Read Online]( 📉 BOJ Knocks BTC Robbery, Indicators & More [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Bitcoin%20Minimalist&body=%F0%9F%93%89%20BOJ%20Knocks%20BTC%3A%20Robbery%2C%20Indicators%20%26%20More%0A%0Ahttps%3A%2F%2Fbitcoinminimalist.com%2Fp%2Fboj-knocks-btc) First time reading? I’m [Jordan](, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Today we’re covering: - Bitcoin drops after BOJ comments, - Central banks' gold buying boosts Bitcoin appeal, - Hayes explains why Fed isn’t moving BTC, - And everything else you need to know. —Jordan View Bitbo’s newest chart showing Bitcoin price predictions & forecasts from four different models. [View Price Prediction & Forecast Chart]( WHAT WE’RE WATCHING 📉 [Bitcoin dropped 1.4% to $58,100 after Bank of Japan Governor Kazuo Ueda hinted at further rate hikes](. The BOJ's tightening, in contrast to expected Fed rate cuts, has strengthened the yen, pressuring assets like BTC. 🏦 [Central banks bought a record 483 tonnes of gold in H1 2024, with Poland, India, and Turkey leading the purchases.](Despite gold's 23% year-to-date rise, Bitcoin outperformed with a 37% gain, even after a recent decline. Concerns over Western reserve assets are boosting gold's appeal globally. ⛏️ [Bitcoin miners faced their lowest revenue in 11 months, earning $827.56 million in August 2024, a 10.5% drop from July.](The decline is driven by reduced transaction volumes and rising mining difficulty, which reached a record high in August. Some miners are now shifting resources to AI for better profits. 🔪 [In a 2020 robbery near Glasgow, three men used a machete and a Toblerone to steal 23.5 BTC, valued at around $144,017.]( Scottish authorities later traced and seized the Bitcoin, marking the first case in Scotland involving stolen Bitcoin recovery. 📊 [MicroStrategy leads Bitcoin-related equities in 2024 with a 93% YTD return, far outperforming Bitcoin's 31% gain.](The mining sector struggles post-halving, with Marathon Digital down 27% YTD. Meanwhile, BlackRock's IBIT shows a 25% return. 📉 [Bitcoin could drop below $40,000 before aiming for $110,000 by 2025.](Analysts point to bullish patterns, like the cup-and-handle and inverse head and shoulders, but warn of a potential dip first. Some suggest a market bottom near $57,000, with significant support at that level. 📊 [The Bitcoin Rainbow Chart by Bitbo features the Halving Price Regression (HPR).](This model smooths out Bitcoin's historical price peaks, focusing on prices at each halving. The chart includes colored zones showing how far Bitcoin's current price is ahead of the model, from 6 months (blue) to 4 years (red). IN THE LOOP This week’s U.S. economic data may [weaken the dollar](, benefiting Bitcoin. Bitcoin's Puell Multiple is [nearing a level]( that may indicate a favorable buying opportunity, according to CT. Global crypto investment products saw [$305 million in outflows](last week, CoinShares reports. Lightspark Extend lets U.S. businesses [send instant Bitcoin payments to bank accounts]( via the Lightning Network. Bitcoin ETFs [dominate 2024's top fund launches](, with 13 of the 25 largest by inflows. Arthur Hayes says[Fed rate cuts aren't helping Bitcoin]( because money is going into higher-yielding reverse repos. POLL Which asset do you think will perform better by the end of 2024: Bitcoin or gold? Gold is up 18% over the last 6 months, while BTC is down 7.5% over the same time frame. [Gold]( [Bitcoin]( [Both will perform similarly]( THURSDAY’S POLL RESULTS Which stage of Bitcoin's cycle are we in now? Bull Market - 21.6% Consolidation - 35.1% Accumulation - 35.1% Bull Market Already Ended - 8.1% Accumulation - “This is definitely an accumulation period. Past charts show what’s predicted to come in future months. It’s going to happen with you or to you, you decide which way!” - Alex Consolidation - “Trees don’t grow to the sky” - Chris VIDEO How Trump was ‘orange-pilled’ by three Bitcoiners in Puerto Rico and the promise of $100 million: CHARTS & DATA Hash Rate - [Bitcoin’s hash rate is rising](, with some estimates putting it at over 700 EH/s. Bitcoin ROI - [Bitcoin’s ROI today vs the same date in past years](. Another view of this is our [price on current date chart](. New Bitbo Charts Never miss Bitbo's newest charts. Get an email when we post new charts. [Subscribe]( MORE FROM OUR COMPANY The Bitcoin Minimalist is run by Bitbo. Browse our most popular pages across our sites: [Bitbo Dashboard](: View live price action, monitor on-chain data, and track key economic indicators - all for free. [Bitbo Pro:]( Analytics & intelligence to supercharge your Bitcoin investing & trading. [Bitbo Charts:]( Useful Bitcoin charts, featuring on-chain metrics and other Bitcoin analysis. [Bitbo Store:]( Shirts, hats, hoodies, mugs, and other merch for Bitcoiners. [Halving Clock:]( Track the countdown to the Bitcoin halving with our Bitcoin halving clock. Share Bitcoin Minimalist You currently have 0 referrals, only 1 away from receiving Free Report: Why Bitcoin Will Continue to Grow. [Free Report: Why Bitcoin Will Continue to Grow]( [Click to Share]( Or copy and paste this link to others: [ [tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 Bitcoin Minimalist / Wallabit Media LLC 1209 Mountain Road Pl NE Ste R Albuquerque, NM 87101, United States of America [Terms of Service](