## The Next Big Bull Run in Bitcoin

The **next big bull run** in Bitcoin (**BTC-USD**) is underway, with **targets between $180k and $300k** once new all-time highs are achieved. As highlighted in my **recent articles**, Bitcoin is on the brink of breaking through important resistance levels.

![Bull Market](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1409800468/image_1409800468.jpg?io=getty-c-w750)

## Key Insights
- Despite relatively high **"Greed" levels** in the market, historical analogies suggest that Bitcoin can rally significantly, reminiscent of the **429% rally from September 2020**.
- Technical indicators are revealing that Bitcoin has ample **upside potential**. The **weekly and daily RSI levels** indicate there is still room for further growth.
- Short-term resistance is anticipated around the **$72k-$74k** range, but beyond that, Bitcoin has a clear path for a strong bullish advance.

As we approach these critical levels, investors should stay vigilant and consider the potential for substantial gains in the coming months. The atmosphere is charged with optimism, and the momentum appears to be building for Bitcoin's next chapter in the cryptocurrency saga.

The next big bull run in Bitcoin is underway, with targets between $180k-$300k once new all-time highs are achieved. Find out my recommendation for BTC-USD.

Is Bitcoin on the Verge of a Historic Bull Run? Targets Set Between $180k-$300k!

![Global regulators discussing ways to ‘eliminate’ Bitcoin highlights cracks in fiat system](https://cryptoslate.com/wp-content/uploads/2024/10/bitcoin-ban-768x403.jpg)

**Industry experts** are calling the recent regulators' paper one of the most aggressive in recent history. The **Federal Reserve Bank of Minneapolis** and **European Central Bank (ECB)** economists have made bold proposals aimed at potentially "eliminating" Bitcoin.  

## Feds Propose Bitcoin Ban  
On **October 17**, the Federal Reserve Bank of Minneapolis released a [paper](https://www.minneapolisfed.org/research/working-papers/unique-implementation-of-permanent-primary-deficits) suggesting that banning Bitcoin and imposing taxes on it could help governments sustain ongoing budget deficits.  

A **primary deficit** occurs when government spending exceeds revenue, excluding interest payments on existing debt. The paper emphasizes the notion of a **“permanent” primary deficit**, where governments intentionally continue outspending indefinitely.  

The researchers argue that Bitcoin creates a **“balanced budget trap”**, forcing governments to balance their budgets. Its **decentralized nature** is viewed as a challenge to fiscal policy, particularly for governments wanting to maintain permanent deficits. With its fixed supply and links to natural resources, Bitcoin acts as an alternative financial asset, complicating traditional fiscal strategies.  

The paper suggests either banning Bitcoin or introducing taxes as a form of financial repression, stating:  
> “A legal prohibition of bitcoin or a tax on bitcoin are forms of financial repression that may be useful when the ability of the government to use consumption taxes is limited.”  

## ECB Economist Warns of Bitcoin’s Societal Impact  
On **October 20**, ECB economist **Jürgen Schaaf** raised concerns regarding the rising price of Bitcoin, arguing it disproportionately benefits early adopters. He warned that latecomers or non-holders could face significant economic disadvantages.  

> “The societal impact is real: “missing out” on Bitcoin is different than just a lost opportunity; it means actual impoverishment compared to a world without Bitcoin.”  

Schaaf suggested that non-holders should recognize that Bitcoin’s growth is fueled by **wealth redistribution**, which occurs at their expense. He called for policies to curb BTC’s expansion or eliminate it, warning that **pro-Bitcoin politicians** could skew wealth distribution further, threatening societal stability.  

## Crypto Industry Responds  
These reports have ignited reactions from the crypto community, with several experts viewing them as a direct attack on Bitcoin. **Matthew Sigel**, Head of Digital Assets Research at [VanEck](https://cryptoslate.com/companies/vaneck/), remarked that the Minneapolis paper signifies an escalated effort to target Bitcoin.  

Despite the proposals, Sigel maintains that they do not alter VanEck’s forecast of Bitcoin adoption by central banks in the future. In July, VanEck predicted Bitcoin could reach **$2.9 million by 2050**, becoming integral to the global financial system.  

Bitcoin analyst **Tuur Demeester** expressed concern about the ECB’s paper, warning it could lead to stricter taxation and regulation of cryptocurrencies. He stated:  
> “In all the years I’ve been monitoring the bitcoin space, this is by far the most aggressive paper to come from authorities. The gloves are off.”  

> **[Editor’s Note:** Over **57%** of all Bitcoin is held by private individuals, while governments own roughly **2%**. Attempts to ban Bitcoin in the past have failed to hinder its growth due to its security design.]

The Federal Reserve of Minneapolis and the European Centrak Bank's economist back Bitcoin ban proposals in bold report.

Global Regulators' Bold Moves to Ban Bitcoin Expose Flaws in Fiat Currency Systems

Yesway has partnered with **CoinFlip**, a leading digital currency platform, to introduce **cryptocurrency kiosks** across **45 locations** in its Yesway and Allsup’s convenience stores. This initiative will enhance the services offered to customers looking to buy **Bitcoin** and seven other cryptocurrencies.  

![Yesway Cryptocurrency Kiosks](https://www.mobilityplaza.org/media/cache/620/bundles/app/images/39218/6712bbf53ff83.png)  
*© CoinFlip*  

The kiosks are being rolled out in several states including **Texas, South Dakota, New Mexico, Wyoming, and Iowa**. With this addition, CoinFlip will expand its network of over **5,000 kiosks** across **nine countries**.  

Alan Adato, Senior Manager of Merchandising and Procurement at Yesway, expressed enthusiasm about the partnership, stating, "We look forward to introducing CoinFlip to our customers seeking to purchase Bitcoin and other cryptocurrencies. CoinFlip will provide our customers the convenience of a seamless experience for buying or selling digital currencies."  

Yesway operates a total of **435 stores** across nine states, making it the **12th largest convenience store operator** in the U.S. This strategic move aims to cater to the growing demand for digital currency transactions among convenience store shoppers.

The retailer has partnered with CoinFlip to expand services throughout its Yesway and Allsup’s convenience stores. | MobilityPlaza

Yesway Expands Cryptocurrency Access with Kiosks in 45 Locations!

On a **remote road** in Jenkins, Kentucky, a **large warehouse** owned by Mohawk Energy, co-founded by state senator Brandon Smith, stands empty, filled with **unpowered computers**. Initially, Mohawk's partnership with Chinese crypto exchange **Huobi** aimed to transform the facility into a bitcoin mining operation, promising **job creation** and tax revenue for a community hit hard by the decline of coal mining. However, the relationship soured, leading to **legal disputes** and financial woes for both parties.

### The Collapse of Promising Partnerships
Smith envisioned a new future for Jenkins, but the partnership fell apart when **HBTPower** sued Mohawk for **contract breaches**, claiming failure to install necessary infrastructure and secure subsidies. In retaliation, Mohawk countersued for over **$700,000** in unpaid fees and damages. 

### A Wider Trend of Failed Partnerships
This dispute reflects a troubling trend of **failed bitcoin mining partnerships** between Chinese companies and small facility owners in rural America. Many owners are now left with **unpaid hosting fees** and energy bills, leading to significant financial distress. 

### The Hasty Rise of Small Mining Operations
The boom in small-scale mining operations was fueled by a **crypto mining ban in China**, leading many businesses to seek hosting solutions in the US. However, the rush to establish these partnerships often resulted in **poor planning** and **disputes** over payment terms, leaving many facilities in dire straits. 

### Legal Challenges and Financial Recovery
Recovering damages from foreign entities has proven difficult, especially when dealing with **special purpose entities** that have little to lose in the US. Even successful court cases may yield little financial recovery due to the lack of US assets. 

### A Cautionary Tale
As the legal battle drags on, Smith's hopes of revitalizing Jenkins through bitcoin mining seem dim. Experts suggest that such operations provide **minimal benefits** to rural communities, leaving many to wonder about the true impact of these ventures. Smith remains hopeful but acknowledges the **pain** this ordeal has caused for local families, as the facility stands idle, a stark reminder of what could have been.

When bitcoin was on a hot streak, owners of small industrial facilities in Kentucky struck up crypto mining partnerships with Chinese companies. Then things fell apart.

From Hope to Ruin: The Bitcoin Mining Nightmare in Kentucky's Appalachian Mountains

Elon Musk has recently mentioned **XRP** for the first time during a town hall in **Pittsburgh**, sparking excitement among the **XRP Army**. However, his comments might not align with the expectations of XRP supporters.

### "Not endorsement of XRP"
Musk was questioned about the potential integration of **XRP Ledger** into financial institutions amidst the ongoing SEC opposition. Instead of an endorsement, he shared his thoughts on **cryptocurrencies** as a whole, stating they are an "interesting and probably valuable bulwark against centralized control." He emphasized that his comments were **not an endorsement** or a rejection of XRP, but he believes that **crypto** inherently supports **individual freedom**.

### Elon Musk, Dogecoin and Crypto in General
Known for his backing of **Dogecoin**, Musk expressed his belief that **DOGE** is better suited for payments than **Bitcoin**. He has previously stated he wouldn’t promote any cryptocurrency unless jokingly, warning that any videos of him endorsing a crypto would likely be a **deepfake**. Nonetheless, he acknowledges the merit of Bitcoin and other cryptocurrencies. His companies, **Tesla** and **SpaceX**, still hold Bitcoin and accept Dogecoin for merchandise.

![Elon Musk](https://u.today/sites/default/files/styles/736/public/2024-10/s4539.jpg)
*Cover image via U.Today*

Elon Musk has, for first time, mentioned XRP, when talking about crypto, however, not quite how XRP army would expect

Elon Musk Drops a Surprise on XRP: Excitement in the Crypto Community!

As the value of **Bitcoin** and other **cryptocurrencies** skyrockets, hackers are seizing the opportunity to exploit unsuspecting users. Over the past few months, some of the most dangerous **malware infections** in 30 years have infiltrated thousands of personal and business computers, leading to devastating consequences.

## How Hackers Are Targeting Victims
Hackers are employing a variety of tactics to steal personal information and funds. Some of the most common methods include:

- **Phishing Emails**: Hackers send out emails containing malicious links that appear legitimate. Clicking on these links takes users to fake websites designed to steal passwords. In addition, these sites can install malware that monitors your every move and sends your sensitive information, such as passwords and account details, directly to the hackers.
- **SIM Hacks**: One of the newest and most dangerous threats is the **SIM hack**. In this method, hackers steal your phone number, which allows them to bypass **two-factor authentication (2FA)** that uses SMS text messaging. Once they have access to your phone number, they can gain control of your accounts, including cryptocurrency wallets, bank accounts, and more.

To combat this, security experts recommend using an **authentication app** like **Google Authenticator**, which provides more secure two-factor authentication than SMS-based 2FA.

## How You Can Protect Yourself
With these cyber threats on the rise, it’s essential to take proactive steps to protect your devices and accounts. Here are some tips to stay safe:
- **Be cautious with emails**: Don’t click on any links or attachments from unfamiliar or suspicious senders.
- **Use secure 2FA methods**: Avoid using SMS-based two-factor authentication for sensitive accounts and switch to an authenticator app like Google Authenticator.
- **Keep your software updated**: Ensure that your operating system, antivirus software, and any other security tools are regularly updated to protect against new malware.
- **Backup your data**: Regularly back up important files to an external drive or cloud service to safeguard against data loss in case of an attack.

## Free Malware Scanning at PC Laptops
To help protect the community from these increasing cyber threats, **PC Laptops** is offering free virus and malware scans for anyone who brings in their desktop or laptop computer. This service comes with no obligation—just a simple way to ensure your device is free from harmful malware or viruses. **PC Laptops** also offers comprehensive virus and malware protection software to help safeguard your devices from future attacks. With cybercriminals on the rise, it’s more important than ever to take action before it’s too late.

With the rise of cryptocurrency values, hackers are more motivated than ever to target vulnerable users. Don’t let them gain access to your personal information, bank accounts, or cryptocurrency wallets. Protect yourself by bringing your computer into any **PC Laptops** location today for a free scan, or visit **PCLaptops.com** for more information.

As the value of Bitcoin and other cryptocurrencies skyrockets, hackers are seizing the opportunity to exploit unsuspecting users.Over the past few months, some

Protect Yourself from Malware as Bitcoin Prices Surge: Essential Tips and Strategies

### Larry Fink Ignites the Crypto Market

This week, **Larry Fink**, CEO of **BlackRock**, made waves in the cryptocurrency world with his comments that helped fuel a significant **Bitcoin rally**. His comparison of Bitcoin's evolution to the **mortgage-backed securities** market of the 1980s electrified crypto enthusiasts, prompting many to speculate on why the cryptocurrency **will rise rapidly**.

### The Power of BlackRock in the Crypto Space

BlackRock, the world's leading investment firm, manages the largest **Bitcoin exchange-traded fund (ETF)**, boasting over **$25 billion** in net assets. Fink's remarks have shown how influential his views can be on the market. He emphasized that the **regulatory environment** is not the primary driver of Bitcoin's growth; instead, it's about **analytics and data**.

### Bitcoin's Recent Surge

In the past week alone, Bitcoin surged by **11%**, nearing the **$70,000** mark, a level it last reached in June. This year, Bitcoin has risen **61%**, indicating a robust market with even **memecoins** experiencing dramatic growth.

### Key Takeaways from Fink’s Insights

- Fink highlighted that **analytics and data** will propel the growth of Bitcoin, similar to how they did for mortgage bonds.
- His comments suggest that the **future of Bitcoin** is not solely dependent on regulatory actions.
- The cryptocurrency market is showing signs of increased enthusiasm, with even the most obscure coins seeing significant gains.

Fink's perspective has provided a fresh reason for investors to be optimistic about Bitcoin's trajectory, contributing to a more **bullish sentiment** in the market.

Larry Fink added some fuel to the Bitcoin rally this week.

BlackRock's Larry Fink Sparks a Bitcoin Revival: What You Need to Know!

### Bitcoin's Current Performance

Bitcoin (**BTC-USD**) is currently **struggling to make consistent new highs**, unlike **gold** (**XAUUSD:CUR**). According to **Jurrien Timmer**, director of global macro at **Fidelity**, this lack of momentum is significant. He suggests that Bitcoin may have **already frontloaded its gains** during its recovery from the dip to **$15,000** in late **2022**.

### Bitcoin and Gold: Different Players?

Timmer posits that both Bitcoin and gold are **"different players on the same team"**, but they may not be **operating in sync**. He believes that Bitcoin aspires to have the **utility of money**, describing it as **"exponential gold"**—gold with an **exponential network feature**. However, for Bitcoin to effectively compete with gold, its **adoption curve** must continue to grow.

### Adoption and Valuation

According to **Metcalfe’s Law**, as the adoption curve for Bitcoin grows, its **valuation and price should increase** as well. Nevertheless, Bitcoin has experienced a **boom-bust cycle**, often overshooting and undershooting its underlying value, a phenomenon typical for an **asset in price discovery**.

![Bitcoin Chart](https://static.seekingalpha.com/uploads/2024/10/18/saupload_pic.jpg)

*Credits to Fidelity.*

### Recent Price Trends

Recently, Bitcoin's price has **flattened**, remaining between **$60,000 to $70,000** since late February, with the number of addresses holding at least **$1** stagnating at **46 million**. Despite a steep gain at the beginning of the year—driven by the anticipation of **ETFs**—the index is up **55.65% year-to-date**.

### The Future of Bitcoin

If Bitcoin has indeed matured and become less susceptible to **boom-bust swings**, its **adoption curve** will ultimately dictate its future price movement. Timmer concludes that while a potential **acceleration** in growth may be on the horizon—especially if the world moves towards **fiscal dominance**—currently, **gold** is **"stealing the show"**.

Bitcoin (BTC-USD) is not making consistent new highs in the likes of gold, (XAUUSD:CUR), and its lack of momentum is notable, said Fidelity&amp;amp;#39;s Jurrien Timmer.

Is Bitcoin on the Verge of a Historic Bull Run? Targets Set Between $180k-$300k!

Summary:

The Next Big Bull Run in Bitcoin

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