### Bitcoin Cash (BCH) on the Rise

Bitcoin Cash (CRYPTO: BCH) has seen a significant **increase of 8.1%**, reaching **$355.45** as of Monday afternoon. This surge can be attributed to a notable influx of investments into **Bitcoin** and **Ethereum** exchange-traded funds (ETFs) over the past week.

### Factors Behind the Surge

The recent uptick in Bitcoin Cash's price is primarily driven by changing sentiments in the cryptocurrency market, particularly in the U.S. Investors are increasingly turning to cryptocurrencies as a hedge against traditional market fluctuations, thus amplifying the inflows into BCH.

### Market Dynamics

The **inflows into ETFs** are a clear indicator of rising interest in cryptocurrencies, which is positively impacting Bitcoin Cash. As more investors look to diversify their portfolios, BCH stands out as a viable option.

![Bitcoin Cash Surge](https://example.com/image.jpg)  
*Image showing Bitcoin Cash price trends.*  

### Conclusion

This price movement suggests that Bitcoin Cash may continue to gain traction in the market, driven by investor interest and broader cryptocurrency adoption.

Bitcoin Cash (CRYPTO: BCH) is trading higher by 8.1% to $355.45 Monday afternoon following a surge in inflows into Bitcoin and Ethereum exchange-traded funds (ETFs) last week. This uptick, driven by shifting U.S.

Bitcoin Cash Soars: What’s Driving the Surge?

### Salvadorans and Bitcoin: A Disconnect

Salvadorans may appreciate **President Nayib Bukele** for his efforts in improving the country's security, but a **new survey** reveals that the enthusiasm for **Bitcoin** is not reflected in actual usage. 

According to a recent report from **San Salvador University Francisco Gavidia**, only **7.5%** of respondents use cryptocurrency for transactions, while a staggering **92%** do not. Despite **El Salvador** making Bitcoin legal tender in **2021**, many citizens remain hesitant to adopt the digital currency for everyday purchases.

### Bukele's Bitcoin Push

President Bukele, known for his aggressive promotion of Bitcoin, has faced criticism from both **U.S. politicians** and the **International Monetary Fund** for his policies. The survey indicated that merely **1.3%** of participants believe Bitcoin should be the country’s primary financial strategy moving forward. 

In an effort to attract foreign investment, Bukele has proposed initiatives such as **Bitcoin City** and has offered enticing incentives like visas for investors. However, public sentiment remains mixed, with **58%** of those surveyed believing the nation is on the right track and showing general support for Bukele’s leadership. 

### The Reality of Bitcoin Adoption

In a recent interview, Bukele himself acknowledged that the **adoption of Bitcoin** has not met expectations, stating, “**Bitcoin hasn’t had the widespread adoption we hoped for**.” 

El Salvador, once notorious for its violence, has seen a crackdown on crime under Bukele’s administration, which has garnered praise from citizens but raised concerns among human rights advocates regarding **prisoner treatment** and **police conduct**. 

Despite the president's popularity, the disconnect between his Bitcoin initiative and public usage reveals a significant challenge in his economic strategy.

A new University report shows that not many people are using the orange coin to buy things in El Salvador.

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

All three major indexes (^DJI, ^GSPC, ^IXIC) **closed lower** on Tuesday. Yahoo Finance markets and data editor **Jared Blikre** joins **Josh Lipton** on *Asking for a Trend* to break down his key takeaways from the trading day.

### Financial Sector Leads the Market
The **financial sector** (XLF) leads the market so far this month compared to all other S&P 500 sectors as **Big Banks** report third quarter earnings.

### Oil Prices Diverge from Expectations
**Oil prices** (CL=F, BZ=F) are diverging from inflation expectations amid **macroeconomic uncertainty**.

### Bitcoin's Potential Breakout
**Bitcoin** (BTC-USD) shows signs of **breaking out** as it hovers around **$67,000**. This significant movement raises questions about its future trajectory in the current market context.

To watch more expert insights and analysis on the latest market action, check out more *Asking for a Trend* [here](https://finance.yahoo.com/videos/series/asking-for-a-trend/).  
*This post was written by Naomi Buchanan.*

All three major indexes (^DJI,^GSPC, ^IXIC) closed lower on Tuesday. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to break down his key takeaways from the trading day. The financial sector (XLF) leads the market so far this month compared to all other S&P 500 sectors as Big Banks report third quarter earnings. Oil prices (CL=F, BZ=F) diverge from inflation expectations amid macroeconomic uncertainty. Bitcoin (BTC-USD) shows signs of breaking out as it hovers around $67,000. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

### Tesla's Bitcoin Movement

**Tesla**, the electric car company led by **Elon Musk**, has made headlines by transferring nearly all of its **Bitcoin** holdings after a **two-year period of inactivity**. On Tuesday, wallets associated with Tesla moved approximately **$765 million** worth of Bitcoin to unknown wallets. Notably, only about **$6** remained in the original wallets. These new wallets are not linked to any known **crypto exchanges**, leading to speculation that Tesla is not planning to sell its Bitcoin.

### Background on Tesla's Bitcoin Holdings

In **2020**, Tesla revealed it had acquired **$1.5 billion** in Bitcoin but sold about **10%** of its holdings in Q1 2021. Subsequently, in **July 2022**, the company sold approximately **75%** of its remaining Bitcoin as the price had dropped significantly from its all-time high of **$69,000** in **November 2021**, to around **$24,000** at the time of the sale. However, the value of Tesla's remaining Bitcoin has surged, with the current price hovering around **$66,500**.

### Tesla's Mixed Relationship with Bitcoin

Tesla's relationship with Bitcoin has been complex. In **2021**, the company announced it would accept Bitcoin as payment for vehicles but quickly reversed this decision, citing the **environmental impact** of Bitcoin mining. Musk has expressed interest in resuming Bitcoin payments if a majority of mining operations switch to **green energy** sources, but that has yet to materialize.

### Conclusion

The movement of Tesla's Bitcoin raises questions about the company's future strategies regarding cryptocurrency, especially considering Musk's previous comments and the current market dynamics.

Tesla has moved the bulk of its Bitcoin to new wallets, though there's no immediate suggestion that Elon Musk's car company is selling.

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

# Bitcoin's Price Surge: Are the Stars Finally Aligned?

Bitcoin’s price has **surged to levels not seen since July**, driven by **positive inflows** and growing optimism regarding a potential bullish breakout. 

## Market Overview

Despite the recent ETF inflows, **actual demand for Bitcoin has been declining since March**, as reported by Glassnode. Technical analysis indicates that Bitcoin is encountering resistance at various levels, with support levels identified for potential price declines. 

### Recent Developments

- Bitcoin prices recently spiked following a week of **positive ETF inflows**, with **$555.9 million** in net inflows recorded on a single day, marking the highest since June. 
- ETF Store President Nate Geraci noted that this surge reflects a growing embrace of spot Bitcoin ETFs by **financial advisers and institutional investors**. 

![Daily Bitcoin ETF inflows](https://www.marketpulse.com/wp-content/uploads/2024/10/2024-10-15-18_13_03-US-spot-Bitcoin-ETFs-see-556M-inflows-in-biggest-day-since-June.png)
*Source: CoinGlass, Cointelegraph*

## Downside Risks – Profit Taking and Waning Demand

Despite the inflows, **actual demand has been diminishing**, and the **Binary CDD metric** indicates a lack of activity among long-term investors. 
- **Robert Kiyosaki**, a prominent Bitcoin advocate, has predicted a potential market crash, suggesting Bitcoin could plummet to **$5,000**, despite his tendency for bold claims. 

### Technical Analysis BTC/USD

Currently, Bitcoin is trading approximately **0.77% up**, having faced resistance at **$68,334** and aiming for the **$70,000** mark. Immediate support levels are at **$65,000**, with further supports at **$63,341** and **$61,378**. 

![Bitcoin (BTC/USD) Daily Chart](https://www.marketpulse.com/wp-content/uploads/2024/10/BTCUSD_2024-10-15_18-44-27.png)
*Source: TradingView.com*

**Support Levels:**
- **$65,000**
- **$63,341**
- **$61,378**

**Resistance Levels:**
- **$68,334**
- **$70,000**
- **$71,935**

Optimism is on the rise regarding Bitcoin’s potential for a breakout, but the **current demand levels** raise concerns for bulls as they navigate a range of **technical hurdles**.

Bitcoin's price surges amidst ETF inflows and bullish sentiment. Have the stars finally aligned or will the technical hurdles hold firm?

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

## Blockstream's Major Fundraising

**Blockstream**, a leading infrastructure provider for Bitcoin, has successfully raised **$210 million** through **convertible note financing** in its latest funding round. This initiative was led by **Flugur Ventures**, a venture capital firm focused on cryptocurrency. The funds will be utilized to **expand Blockstream's layer-2 solutions** and enhance its **mining operations**.

**Dr. Adam Back**, co-founder and CEO of Blockstream, emphasized that this fundraising marks a pivotal moment for the company, as it aims to further integrate Bitcoin with the broader financial ecosystem.

## Layer-2 Solutions and Achievements

As a prominent developer on the **Bitcoin network**, Blockstream provides a range of **layer-2 solutions**, including the **Liquid Network**. This network facilitates secure transactions for businesses and traders dealing with digital assets. Since its inception in **2018**, more than **$1.8 billion** in assets, such as tokenized securities and stablecoins, have been issued on Liquid.

Blockstream's technology also supports **Bitfinex's** offerings of tokenized securities and other significant blockchain products. 

## Recent Innovations

This funding round follows the launch of Blockstream's **Series 3 of Bitcoin Mining Note (BMN) 2** in September, offering investors direct exposure to its Bitcoin hash rate, which could lead to higher returns. Additionally, it comes after the rollout of the **Greenlight** integration, a scalable and non-custodial **Lightning Network** solution introduced last year.

Blockstream, a major infrastructure provider for Bitcoin, raked in millions to build out its layer-2 offerings and mining business.

Blockstream Secures $210 Million to Enhance Bitcoin Mining and Layer-2 Innovations

In the **previous installments** of this series, we explored how the **HODL culture** has undermined Bitcoin’s privacy and squandered its potential as a global medium of exchange.

### The Economic Consequences of Dormancy
Now, in Part 3, we take a closer look at the long-term consequences of discouraging real economic activity on the blockchain. When Bitcoin’s network is locked in a state of dormancy, with small blocks designed to limit usage, it doesn’t just slow growth—it cultivates a toxic ecosystem driven by **rent-seeking behavior** and **gatekeeping**. With few opportunities to create new value, the network’s dominant players become more focused on controlling the narrative, extracting fees, and consolidating power, all while strangling the very **innovation** that Bitcoin was meant to unleash.

### The New Blockchain Class System
The decision to artificially limit Bitcoin’s block size is not just a technical choice but an economic and cultural decision. By capping capacity, the network has deliberately suppressed opportunities for **value creation**, forcing stakeholders into a zero-sum game. Instead of fostering vibrant commerce, Bitcoin has become a battleground of middlemen.

1. **Influencers**: Social media personalities who act as ideological gatekeepers, setting the tone for Bitcoin’s toxic purity tests.
2. **Exchanges and liquidity providers**: These actors profit off retail traders, distorting Bitcoin’s value proposition.
3. **Full node operators and core devs**: They have evolved into a de facto governance layer, undermining Bitcoin’s **proof-of-work** principles.

### The Failure of Dormant Coins
At its core, Bitcoin was designed to be a dynamic, thriving system of commerce. Yet, the vast majority of BTC remains locked away in dormant unspent transaction outputs (UTXOs), providing no value to the network and no opportunity for wealth creation.

### A Vicious Cycle of Rent-Seeking
The toxic culture that permeates BTC today is a direct result of the failed “Hodl” economic model. When productive business activity is stifled, power struggles emerge over who controls access to the shrinking pool of opportunities.

### Proof of Work vs. Cheap Governance
The governance of Bitcoin has shifted towards a system where those with the most IP addresses influence protocol changes without the real-world energy required by miners.

### A Call for Commerce, Not Custodians
If Bitcoin is to fulfill its original promise, it must be freed from the grip of rent-seekers and gatekeepers. The network must prioritize the creation of value and real economic activity, rather than the extraction of fees. The real power of Bitcoin lies in **frictionless commerce**, identity solutions, and data integrity systems.

Watch: CoinGeek Weekly Livestream w/ Kurt Wuckert Jr. – Untangling Bitcoin Mining

![Bitcoin Mining](https://www.youtube.com/embed/oIkg9FClpkQ?si=Ra1cydI3yUp-cd7k&controls=0)

The magic of Bitcoin lies not as a store value but in its ability to spark an economic revolution by enabling frictionless commerce, identity solutions and data integrity systems.

The Hidden Costs of HODLing: How Dormant Bitcoin Hurts Economic Growth

## FIPCOIN: A New Era in Cryptocurrency

DUBAI, United Arab Emirates, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The cryptocurrency sector has witnessed a range of innovative products, but few have combined **stability** with **predictable income** like **FIPCOIN** does. Built on the robust **Binance Smart Chain (BSC)**, FIPCOIN offers investors **fixed returns** independent of market volatility. This unique digital asset blends **stability, security, and consistent income**, reshaping how individuals and businesses interact with cryptocurrencies.

![FIPCOIN Feature](https://ml.globenewswire.com/Resource/Download/d5ed90ec-8a23-4a15-b70c-aedea97e6a63/fipcoin-feature.jpg)

FIPCOIN is the brainchild of **Mr. Piyush Krishna**, CEO and Founder of **FIP Trade Factory (Fixed Income Platforms)**, who has an extensive background in managing fintech companies, international banking, and blockchain innovation. With a firm belief in the transformative potential of cryptocurrency, FIPCOIN emerged as the solution to many of the hurdles that traditional finance and existing cryptocurrencies face, such as **transaction delays, high fees, and market volatility**. FIPCOIN’s operations are supported by **Fixed Income Platforms LLC**, **Bridge Funding & Investments Private Limited**, **Bridge E-Commerce & Technocrats Private Limited**, and **Wealthwise KB**.

At its core, **FIPCOIN** is designed to maintain its **initial buying value**, regardless of the turbulent fluctuations that often characterize the cryptocurrency market. This guarantees investors **peace of mind** by ensuring that their investments retain value while also generating **fixed monthly returns**. This income is supported by FIPCOIN’s **High-Frequency Trading (HFT)** activities, which provide steady revenue streams, making it an attractive proposition for risk-averse investors looking for a dependable store of value in the ever-changing digital economy.

The currency also benefits from being backed by reputable **fund management firms**. FIPCOIN integrates the security of traditional finance with the decentralized power of blockchain technology, making it a unique asset within the cryptocurrency sector. **“FIPCOIN is a response to the pressing need for a more stable and reliable investment option in the cryptocurrency sector,”** states the CEO. **“Our mission is to empower investors by providing them with a predictable income stream while maintaining the integrity of their capital.”**

Traditional fiat-based systems often struggle with slow transaction times, expensive fees, and regulatory inconsistencies. FIPCOIN, leveraging blockchain’s decentralized infrastructure, provides a solution that is faster, more cost-effective, and globally accessible. By bypassing intermediaries, FIPCOIN reduces the costs associated with **cross-border payments**, enabling seamless international transactions that enhance global commerce.

Visionary CEO of FIPCOIN emphasizes the coin's potential: **“FIPCOIN represents more than just a cryptocurrency; it’s the future of global payments. We’ve designed it to integrate effortlessly into existing financial systems while also offering unmatched stability and income. It is a game-changer in the world of decentralized finance.”**

FIPCOIN’s most distinctive feature lies in its **fixed-income model**. While most cryptocurrencies are subject to wild price swings, FIPCOIN offers **consistent monthly dividends** to its holders. These payments are distributed via a **smart contract** on the Binance Smart Chain, ensuring transparency, efficiency, and security. This is made possible by the coin’s underlying asset reserve, which supports the dividend payouts.

**“In a world where volatility is commonplace, FIPCOIN’s promise of stable, predictable returns presents a unique advantage,”** states the CEO. **“Our holders can benefit from the possibility of capital appreciation and consistent income, which is nearly unheard of in today's digital asset market. However, this is a tried-and-true model we've applied since 2018 in our Fixed Income Platforms, where we have consistently provided fixed returns to all our clients.”**

In addition to its innovative economic model, FIPCOIN prioritizes security. The platform uses **multi-layered encryption** and undergoes regular **security audits** to ensure the safety of users' assets. Built on Binance Smart Chain’s **Proof-of-Staked Authority (PoSA)** protocol, the network also benefits from reduced energy consumption and enhanced scalability, further securing its position as a forward-thinking cryptocurrency.

FIPCOIN is committed to adhering to the regulatory frameworks of various jurisdictions, aiming to build trust and legitimacy in an increasingly scrutinized market. This transparency further bolsters investor confidence, particularly in a landscape often clouded by uncertainty and regulatory challenges.

![FIPCOIN Solution](https://ml.globenewswire.com/Resource/Download/9380015f-0999-454d-8660-7759c918d6db/fipcoin-solution.jpg)

FIPCOIN's ecosystem goes beyond simple payments, emphasizing **decentralized wallets** with multichain functionality that enhances security and usability on both Polygon and Binance Smart Chain. In a bid to democratize film production, FIPCOIN is launching a **crowdfunding platform for movies**, empowering filmmakers to fund their projects independently.

The **universal blockchain explorer** will also enable users to track transactions across multiple blockchains, promoting transparency and trust. Investors can engage in an **opinion trading platform** with AI-powered bots to share insights and earn rewards while incorporating **AI tools for cybercrime prevention**, underscoring FIPCOIN's commitment to security and innovation.

With a total supply of **1 billion tokens**, FIPCOIN has a clear and strategic token distribution model. The initial token supply stands at 200 million, with **pre-sale values** ranging from $0.80 to $0.90. The team has also planned systematic **token burning** to reduce the overall supply and encourage scarcity, which should drive up the token’s value over time.

Looking ahead, FIPCOIN has an ambitious **roadmap** that includes the development of a decentralized wallet, an opinion trading platform, and a crowdfunding platform for aspiring directors. By **Q4 2025**, it aims to have fully launched all of its promised use cases, firmly establishing itself as a leader in the cryptocurrency space.

With an international presence spanning **India, Hong Kong, Europe, and Dubai**, FIPCOIN is well-positioned to cater to a global audience. The team’s deep understanding of intricate regulatory frameworks and financial systems positions FIPCOIN to lead the way in cryptocurrency innovation.

**“Join us as we pave the way for a new era in cryptocurrency,”** urges the FIPCOIN team. **“Together, we can redefine the financial sector for investors worldwide.”**

As FIPCOIN prepares for its **public presale**, scheduled for **November 2024**, there has never been a better time to get involved. The coin’s ability to provide **fixed returns** in a market notorious for volatility makes it an ideal choice for both seasoned investors and newcomers.

FIPCOIN is forthcoming with multiple unexplored use cases of cryptocurrency, bringing more stability to digital asset income...

Bitcoin Cash Soars: What’s Driving the Surge?

Summary:

Bitcoin Cash (BCH) on the Rise

Factors Behind the Surge

Market Dynamics

Conclusion

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Other Latest News

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

Blockstream Secures $210 Million to Enhance Bitcoin Mining and Layer-2 Innovations

The Hidden Costs of HODLing: How Dormant Bitcoin Hurts Economic Growth

Discover FIPCOIN: The Game-Changer Offering Stable Income and Security in Cryptocurrency

Other Latest News

Disillusionment in El Salvador: Why Bitcoin Isn't Gaining Traction Despite Popular Support for Bukele

Bitcoin's Price Surge: Key Market Insights from Recent Trading Trends

Tesla Moves $765 Million in Bitcoin: What Does It Mean for the Future?

Is Bitcoin on the Brink of a Breakout? Unveiling the Latest Market Dynamics!

Blockstream Secures $210 Million to Enhance Bitcoin Mining and Layer-2 Innovations

The Hidden Costs of HODLing: How Dormant Bitcoin Hurts Economic Growth

Discover FIPCOIN: The Game-Changer Offering Stable Income and Security in Cryptocurrency