A prominent trader, **TheScalpingPro**, believes Bitcoin's post-halving dip might be nearing its end, suggesting a potential for substantial price gains. He highlights that historically, Bitcoin's post-halving periods have presented opportunities for accumulation, with significant rallies following the initial dip. This recent dip, according to TheScalpingPro, is likely a consolidation phase and not a sign of a market top, as many investors perceive it to be. He points to previous halving cycles, where missing the initial dip resulted in missing out on substantial gains - **+12,100% in 2012, +4,000% in 2016, and +700% in 2020.** He predicts that if Bitcoin reaches **$200,000 in 2024**, selling at the current dip could lead to missing a potential **+250% gain**. Supporting this, data from IntoTheBlock shows an increase in large Bitcoin transactions and active addresses, indicating growing institutional interest. The Bitcoin Fear & Greed Index also suggests a possible local bottom, further reinforcing the bullish sentiment.

Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) historical post-halving dip could seen be over, according to a prominent trader, who expects a strong <a href="https://www.benzinga.com/money/bitcoin-price-prediction">price rally soon.</a> 
What Happened: Crypto trader TheScalpingPro on Friday pointed out that Bitcoin&#039;s post-halving dips have historically presented opportunities for accumulation. According to the trader, Bitcoin often experiences a consolidation or dip after each halving event, which many investors misinterpret as a distribution or cycle top, leading them to sell early or remain on the sidelines.
Pointing to historical statistics of Bitcoin halving cycles, Mags <a href="https://x.com/thescalpingpro/status/1806590904935080068">stated</a> "In 2012, you&#8217;d miss a +12,100% gain. In 2016, you&#8217;d miss a +4,000% gain. In 2020, you&#8217;d miss a +700% gain." He ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39548804/bitcoins-post-halving-dip-may-be-almost-over-exponential-gains-could-be-next-says-trader alt=Bitcoin&#039;s Post-Halving Dip May Be Almost Over—Exponential Gains Could Be Next, Says Trader>Full story available on Benzinga.com</a>

Loading...Loading...Bitcoin’s BTC/USD historical post-halving dip could seen be over, according to a prominent trader, who expects a strong price rally soon. What Happened: Crypto trader TheScalpingPro on Friday pointed out that Bitcoin's post-halving dips have historically presented opportunities for accumulation. According to the trader, Bitcoin often experiences a consolidation or dip after each halving event, which many investors misinterpret as a distribution or cycle top, leading them to sell early or remain on the sidelines.Pointing to historical statistics of Bitcoin halving cycles, Mags stated "In 2012, you’d miss a +12,100% gain. In 2016, you’d miss a +4,000% gain. In 2020, you’d miss a +700% gain." He estimated if Bitcoin reaches $200,000 in 2024, those who sell could miss a +250% gain.The latest Bitcoin halving took place on April 19, implying that the crypto markets are more than two months into the post-Halving cycle. In April 2024, crypto trader The Flow Horse forecasted a pattern of drops and bounces to repeat three to four times until emotional fatigue sets in, leading to a market slowdown until Labor Day. JPMorgan has predicted significant Bitcoin appreciation in the months following the halving.Also Read: Why Bitcoin Will Rally Again In JulyWhy It Matters: IntoTheBlock data notes a 74.2% increase in Bitcoin's large transaction volume . Transactions greater than $100,000 from 7,614 transactions on June 26 to 7,790 transactions. Exchanges netflows increased by 704.6%, as did daily active addresses (13.8%).Crypto trader Titan of Crypto noted in his latest tweet that the Bitcoin local bottom could be in, citing the Bitcoin Fear & Greed Index, which reached 30, a level last seen in September 2023.Price Action: In the past 24 hours, BTC is up 0.6% to $61,490.What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.Read Next: Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano…And Thinks Shiba Inu’s Time Has PassedImage: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Bitcoin's Post-Halving Dip May Be Almost Over—Exponential Gains Could Be Next, Says Trader

Bitcoin's Post-Halving Dip May Be Over: Trader Sees Exponential Gains Ahead

Is it time to pay closer attention to the world's **second-most valuable cryptocurrency**?  

**Bitcoin**'s price has more than doubled to a record high over the past year, driven by several key factors: the approval of **Bitcoin's first spot price exchange-traded funds (ETFs)**, the latest four-year **halving**, the Federal Reserve's interest rate cuts, and the political landscape following the recent elections.  

![A digital money cube placed on a blockchain.](https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F797160%2Fdigital-money-cube-placed-on-a-blockchain.jpg&amp;op=resize&amp;w=700)  
*Image source: Getty Images.*  

These factors position **Bitcoin** as an attractive investment. However, as it approaches record highs, investors might also consider **Ethereum**. Let's explore the differences between these two cryptocurrencies.  

## The Differences Between Bitcoin and Ethereum  
**Bitcoin** operates on a **proof-of-work (PoW)** mechanism, requiring energy-intensive mining, with a capped supply of 21 million coins. In contrast, **Ethereum** transitioned to a **proof-of-stake (PoS)** model in 2022, allowing investors to earn rewards by staking their tokens.  

Ethereum does not have a supply limit and currently has about **120 million tokens** in circulation, but its value is often tied to its use in developing **decentralized applications (dApps)** and **smart contracts**.  

## Why Has Ethereum Underperformed Bitcoin?  
Despite a **50% rally** in the past year, **Ethereum** remains about **40% below** its all-time high, facing competition from newer blockchains like **Solana** and **Cardano**. Its price growth is also hindered by its increasing supply.  

However, future upgrades and partnerships, such as **UBS** launching a tokenized fund on Ethereum, may enhance its long-term prospects.  

## Should You Choose Ethereum Over Bitcoin?  
Some analysts predict **Ethereum** could experience significant price increases in the coming years, but the author believes **Bitcoin** remains the smarter investment. Bitcoin's scarcity and stable value make it more appealing, while Ethereum's inflationary nature and dependence on its utility for developers could limit its consistent growth.  

*Author: Leo Sun*  
*The Motley Fool has positions in and recommends Bitcoin, Cardano, Ethereum, and Solana.*

Is it time to pay closer attention to the world's second-most valuable cryptocurrency?

Is Ethereum the Next Big Thing? A Deep Dive into Its Potential Against Bitcoin

## Ethereum's Recent Surge

**Ethereum** has been experiencing a resurgence after struggling to gain momentum in recent months. While **Bitcoin** has been breaking all-time price records, Ethereum finally breached the **$3,000** mark early Saturday for the first time since August, peaking at **$3,056**.

## Market Dynamics

Ethereum's recent growth can be attributed to a favorable market environment, especially following President-elect **Donald Trump**'s pro-digital asset stance, which has positively influenced the broader market. Over the past week, Ethereum's price has jumped **20%**, significantly outpacing Bitcoin's **10%** increase.

## Bitcoin's Record Highs

Bitcoin has consistently pushed to new all-time highs, recently reaching **$77,237**, surpassing its previous record of **$73,737** set in March. The momentum for Bitcoin was already building prior to the election, with substantial investments flowing into spot Bitcoin **ETFs**.

## Regulatory Landscape

Despite Ethereum’s strong performance, it has faced challenges due to regulatory uncertainties surrounding **decentralized finance (DeFi)** applications. However, with a potential shift in leadership at the **SEC** under Trump's administration, there are hopes for a more favorable regulatory environment for Ethereum. This change could provide a boost to Ethereum's prospects as it becomes more entwined with DeFi.

## Token Performance

Tokens related to Ethereum's DeFi landscape have also seen gains, with **Aave's** governance token rising **29%** over the past week. Similarly, **Ethena's** governance token has increased **34%**.

## Comparing Performances

While Ethereum's climb past $3,000 is notable, it still trails behind Bitcoin's year-to-date gains. Bitcoin continues to set new records, while Ethereum is still chasing its all-time high of **$4,878** from November 2021. 

## ETF Developments

The approval of spot Ethereum ETFs in May was seen as a bullish development, affirming Ethereum's regulatory status. However, initial outflows from Grayscale's Ethereum Trust dampened enthusiasm as the ETFs launched in July, putting downward pressure on Ethereum's price.

## Future Outlook

Despite some concerns regarding its recent upgrade and inflationary supply, traders remain optimistic about Ethereum's future. According to **Nick Forster**, founder of the DeFi protocol Derive, there is a notable uptick in **bullish sentiment** for Ethereum, indicating a potential for further gains in the market.

It’s nowhere near its all-time mark, but after a few rough months, Ethereum is finally on the rise as Bitcoin keeps pushing to new peaks.

Ethereum Surges Past $3,000 as Bitcoin Hits Record Highs: What's Driving the Bullish Sentiment?

### Overview
In a shocking series of events, **crooks disguised as repair crews** have targeted Bitcoin machines in Oregon, resulting in multiple thefts since October.

### Details of the Incident
The latest theft occurred at the **St. Johns Deli and Grocery** in Portland, where Ashwin Chattri, an employee, witnessed a man and woman in matching uniforms removing a Bitcoin machine from the floor. Initially, Chattri thought it was a legitimate service call, especially since the fake crew had called ahead.

- **Fake Service Call**: The thieves even **vacuumed the area** and presented a **fake invoice** after stealing the machine, which contained approximately **$400**. 
- **Revelation**: It was only after contacting the actual service provider, **Dynamic Exchange Network**, that Chattri learned no service had been scheduled.

### Previous Incidents
Security footage revealed that this theft was not an isolated case. A representative from Dynamic Exchange Network indicated that a similar theft had occurred at the **Jubitz truck stop** and another at a service station in Albany, involving the same suspects and method of operation.

### Community Impact
Chattri expressed his frustration, stating, "How low can you go to steal from a business that's trying to survive?" He hopes to raise awareness to prevent further incidents like this from happening.

### Conclusion
With the rise of Bitcoin's popularity, it's crucial for businesses to remain vigilant against such deceptive tactics employed by thieves.

Police are investigating a string of bitcoin machine thefts involving what appears to be a fake work crew.

Brazen Theft: Crooks Disguise as Workers to Steal Bitcoin Machines in Oregon

### A Massachusetts Man Found Guilty of Money Laundering

A **Danvers** resident, **Trung Nguyen**, aged 48, was found guilty of **money laundering** charges on Friday. Federal prosecutors revealed that he converted over **$1 million in cash into Bitcoin**, including significant amounts for illicit activities.

#### The Operation
Nguyen operated **National Vending, LLC** from **2017 to 2020** without a license, deliberately failing to register with the **Financial Crimes Enforcement Network (FinCEN)**. According to the U.S. Attorney's Office for Massachusetts:

> "Nguyen accepted cash from customers and, in exchange for a fee, sent them Bitcoin in return."

Under federal law, virtual currency exchangers, including Bitcoin, are classified as **money transmitters** and must comply with **federal anti-money laundering (AML)** regulations.

#### Criminal Links
Nguyen's operation was notably linked to a **methamphetamine dealer**, who funneled **$250,000** through Nguyen, and several **romance scam victims** who lost hundreds of thousands of dollars:
- **$325,000** from a romance scam victim in **Kansas City**
- **$60,000** from a victim in **Glastonbury, Connecticut**
- **$60,000** from another victim in **central Massachusetts**

Scammers utilized Nguyen's services to convert cash into Bitcoin to send overseas, exploiting his business for their schemes.

#### Legal Consequences
Nguyen did not file any **currency transaction reports** for cash transactions exceeding **$10,000** and failed to report suspicious activities. He faces potential decades in prison and substantial fines, with a sentencing date set for **February 12**.

![Danvers](https://media.nbcboston.com/2024/10/plains-park-danvers.jpg?quality=85&strip=all)

Prosecutors say Trung Nguyen of Danvers, Massachusetts, had an unlicensed business that converted over $1 million in cash into Bitcoin, much of it on behalf of...

Massachusetts Man Convicted in Shocking Bitcoin Money Laundering Scheme

### Overview  
A Nevada executive, **Benjamin Rogovy**, is taking a stand against the IRS, claiming that the agency has incorrectly assessed nearly **$29.4 million** in taxes and penalties related to cryptocurrency forks he asserts he did not benefit from.  
  
### The Dispute  
In a petition filed with the **US Tax Court**, Rogovy, along with **Carol Castellon Miranda**, is contesting the IRS's findings, which include **approximately $24.5 million** in tax deficiencies and around **$5 million** in penalties for the tax years **2017 and 2018**.  
  
### Background  
Rogovy, an early **Bitcoin** investor, acquired various cryptocurrencies, including **Dash**, through both personal accounts and his now-defunct marketing and consulting business, **Velorum Inc.**, which ceased operations in **2016**.  
  
![Tristan Navera](https://db0ip7zd23b50.cloudfront.net/dims4/default/1cccac0/2147483647/legacy_thumbnail/80x80%3E/quality/90/?url=http%3A%2F%2Fbloomberg-bna-brightspot.s3.amazonaws.com%2F2d%2F8d%2Fe88d29554849837b171fdf307c8b%2Fheadshot.jpeg)  
*By Tristan Navera, Senior Reporter*  
  
For further details, readers are encouraged to check Bloomberg Tax for more insights on the evolving situation regarding cryptocurrency taxation.

A Nevada executive alleges the IRS has wrongly assessed almost $29.4 million in taxes and penalties over cryptocurrency forks he says he didn’t benefit from.

Nevada Executive Challenges IRS Over $29 Million Tax Bill on Bitcoin Forks

### Standard Chartered's Optimistic Outlook on Crypto

Standard Chartered has issued a **remarkably optimistic** forecast for the crypto industry, suggesting that the market capitalization of digital assets could **quadruple** to **$10 trillion** by the end of **2026**.

> "We expect the coming two-year period to see similar price gains for digital assets (in percentage terms) to 2021," the British bank stated in a note shared with Decrypt. They anticipate that **existing digital assets** will experience **price surges** and that **new subsectors** will emerge, particularly as **real-world use cases** begin to go mainstream.

### Bitcoin and Ethereum Price Predictions

According to the bank's previous estimates, Bitcoin is expected to reach **$200,000** and Ethereum to surpass **$10,000** by the end of next year—significant increases from their current prices of approximately **$76,500** and **$2,950**, respectively.

### The Role of Trump's Election

Much of this optimism is linked to **Donald Trump’s decisive victory** in the recent U.S. presidential election. Trump, who has made numerous **crypto commitments**, is likely to enact policies that could positively influence cryptocurrency prices. Standard Chartered believes that Trump and his congressional allies will implement measures that could lead to a **surge in cryptocurrency values**.

### Regulatory Changes Expected

Anticipated changes include the **repeal of SAB 121**, which discourages banks from custodying crypto; **stablecoin legislation**; a potential end to the SEC’s **crypto crackdown**; and possibly creating a **strategic U.S. government Bitcoin reserve**—though the bank considers this last point to have a low probability.

> "The new U.S. administration is likely to bring regulatory changes that are needed to drive the next leg of growth in digital assets," Standard Chartered said.

### Shift in Crypto Market Dynamics

The bank predicts that despite Bitcoin's anticipated price increase, its **dominance** in the market will decrease from **60%** to **40%** by 2026. This shift will be driven by the rise of **altcoins**, which are expected to gain traction through **real-world applications**.

> "Digital assets that are more exposed to end uses are likely to benefit more," the bank noted. They specifically predict that **Solana** will outperform both BTC and ETH.

### Future Use Cases

Standard Chartered is betting on several **use cases** to drive the growth of altcoins, including:
- Growth in **gaming**
- Development of **decentralized physical infrastructure (DePIN)**
- Innovations in **on-chain consumer social products**.

*Edited by Andrew Hayward*

The bank estimates that a reset on crypto in the U.S. will quadruple the market’s value in short order, with Bitcoin spiking to $200,000.

Could Trump's Presidency Propel Bitcoin to a $10 Trillion Market Cap? Insights from Standard Chartered

# Germany’s Missed Bitcoin Profits

Germany’s decision to **sell 50,000 BTC** early has led to a staggering **$1.1 billion** in missed profits, as Bitcoin recently soared to a new all-time high, briefly surpassing **$77,000**.

![Bitcoin Price Chart](https://static.cryptobriefing.com/wp-content/uploads/2024/08/07080714/bitcoin-price-chart-800x420.png)

## Key Takeaways
- Germany missed out on **$1.1 billion** in profits by selling Bitcoin early.
- The crypto market surge was partly influenced by **Trump's re-election** and **pro-crypto policies**.

In July, Germany sold nearly **50,000 BTC** at **$53,000** per coin, generating about **$2.8 billion** from assets seized in the “Movie2k” criminal case. However, the current value of the sold Bitcoin is approximately **$3.9 billion**, highlighting the significant financial impact of this early sale.

According to German law, assets in criminal cases must be sold if their market value fluctuates by over **10%** to avoid potential losses due to volatility. This decision comes amidst a broader market surge following **Donald Trump’s recent election win**, which has fueled optimism across various asset classes, including **Tesla**, which surpassed a **$1 trillion** market cap.

Amid this Bitcoin interest, German parliament member **Joana Cotar** raised concerns about the US considering Bitcoin as a strategic reserve asset. Cotar suggested that if the US proceeds with this move, European countries may soon feel compelled to follow suit, stating:

> “If the US buys Bitcoin as a strategic reserve, then all European countries will get FOMO.”

This remark underscores the potential influence of US actions on Bitcoin adoption among governments worldwide.

Germany lost $1.1B in missed Bitcoin profits selling early amid all-time highs, reflecting political and market dynamics in crypto.

Bitcoin's Post-Halving Dip May Be Over: Trader Sees Exponential Gains Ahead

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Other Latest News

Is Ethereum the Next Big Thing? A Deep Dive into Its Potential Against Bitcoin

Ethereum Surges Past $3,000 as Bitcoin Hits Record Highs: What's Driving the Bullish Sentiment?

Brazen Theft: Crooks Disguise as Workers to Steal Bitcoin Machines in Oregon

Massachusetts Man Convicted in Shocking Bitcoin Money Laundering Scheme

Nevada Executive Challenges IRS Over $29 Million Tax Bill on Bitcoin Forks

Could Trump's Presidency Propel Bitcoin to a $10 Trillion Market Cap? Insights from Standard Chartered

Germany Loses $1.1B in Bitcoin Profits: A Cautionary Tale Amid Market Highs

Other Latest News

Is Ethereum the Next Big Thing? A Deep Dive into Its Potential Against Bitcoin

Ethereum Surges Past $3,000 as Bitcoin Hits Record Highs: What's Driving the Bullish Sentiment?

Brazen Theft: Crooks Disguise as Workers to Steal Bitcoin Machines in Oregon

Massachusetts Man Convicted in Shocking Bitcoin Money Laundering Scheme

Nevada Executive Challenges IRS Over $29 Million Tax Bill on Bitcoin Forks

Could Trump's Presidency Propel Bitcoin to a $10 Trillion Market Cap? Insights from Standard Chartered

Germany Loses $1.1B in Bitcoin Profits: A Cautionary Tale Amid Market Highs