In our latest Learn 101 livestream session, we gathered an esteemed panel of crypto experts to share insights on whether BTC will soar to $100K by 2024.

The extreme volatility of Bitcoin and periods of strong growth throughout its history have created substantial wealth for many investors. Bitcoin breached $70,000 earlier in 2024, and many investors are eagerly awaiting price movement to $100,000.

, we ask, “Will Bitcoin Soar to $100K by 2024?”

, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Sep 11, 2024 were four distinguished guests:

Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores if Bitcoin’s price will reach $100K by 2024.

Bitcoin's Journey — Looking Back to Look Forward

At the start of the livestream, Michael Ionita created an automated trading order to demonstrate how easy it is. It remained running in the background until the end of the stream, when our guests reviewed the order.

Throughout the years, Bitcoin’s price has been influenced by the Jackson Hole Economic Symposium, government policy, ETF applications and other factors. Henrique Centieiro stated that short-term macroeconomics are impacted by the Federal Reserve. The economy is currently relatively shaky, and he anticipates more money will be printed. When this last took place, the stock market shot up, and Bitcoin’s price increased substantially. Centieiro attributes this to the level of increased money in circulation.

Referring to a chart that shows a correlation between lowered U.S. interest rates and Bitcoin’s price, Ionita demonstrated that increased money supply has boosted Bitcoin’s prices.

Jerry Li is bullish over the next six months. He reminded us that inflation weakens both the U.S. dollar and purchasing power, and as interest rates drop, he sees a correction in the crypto market that will positively affect Bitcoin’s price.

Centieiro stated that some people will take profits during the rate adjustment. He believes that the next month may be bearish, but there will then be a bull rush.

Ionita said that the market has been impacted by Russia’s new Bitcoin policy, asserting that this is bringing more funds into Bitcoin. However, many people in Russia are holding Bitcoin on a short-term basis because they’re making purchases with it. This makes Russia’s policy impact both bullish and bearish: Ionita maintains that other countries may act on this by prohibiting or limiting Bitcoin because of world events.

Meanwhile, Centieiro stated that the amount of money being kept on exchanges is at an all-time low, which means people are holding for a longer period of time. Bitcoin miners continue to invest in mining equipment. In addition, Michael Saylor has stated that Bitcoin’s price will reach 

Li drew attention to the fact that recently, hash power has increased dramatically, which is attributable to the entrance of more people and countries into the crypto market.

Ionita described the Bitcoin Spot ETF rally of 100%, attributing it to massive public interest. He believes BTC’s price is being heavily restricted because of this huge interest, and expects its price to rise by the end of October, based on the interest in Bitcoin Spot ETFs.

Centieiro said that there’s a lag as money managers decide whether to invest or not. Adding Bitcoin to a fund, even in small amounts, increases diversity and lower risks. He believes this is a win-win situation for money managers.

Li reminded us that Bitcoin will definitely reach $100,000 at some point, but nobody knows when. The upcoming U.S. election may drive its price up, but it could also bring greater volatility. Other catalysts may drive the price up as well.

Ionita referred to his screen again, saying that it’s hard to predict a price for something with multiple variables. However, he referred to the Fibonacci cycle for the current market, which reveals a Bitcoin price prediction between $200,000 to $300,000, adding that it’s impossible to predict the time frame. The average cycle time, however, is 1,069 days, which would extrapolate to the end of October 2025, but this time frame is fuzzy. He believes $200,000 is realistic for the cycle.

Centieiro described some price movement obstacles that have prevented Bitcoin’s price increase or slowed the time frame for BTC hitting $100,000 — the uncertainty of the U.S. election, for one. He also referred to a chart showing a lower flow in market-based mining activity. This indicates a type of magnet for the price. Centieiro also introduced a power log that shows BItcoin’s price should currently be around $90,000. He believes the current price is a pressure cooker, and the price will therefore greatly increase.

Zitane said the main risks that could stymie BTC price growth are regulatory uncertainty, economic instability and military conflicts, among others, directly affecting BTC’s price.

Ionita added that investors should get out of any risky asset in a downturn in order to prevent loss. He stressed the importance of understanding that both BTC and the U.S. dollar are preferred as investments in different situations, and showed a graph indicating that dollar-cost averaging (DCA) isn’t a wise approach for risky assets.

Li, however, stated that he uses DCA. He believes it’s a healthy strategy over a long period of time, due to his confidence that Bitcoin’s price will eventually go back up after a dip.

Centieiro agreed with Ionita that it’s not advisable to use DCA for an asset that’s going to zero. However, he doesn’t believe that Bitcoin will ever go to zero. Centieiro believes in DCA as a solid, long-term strategy to smooth out BTC market volatility.

Zitane has a simple strategy: he only uses DCA. He makes a purchase, and then buys again if the price goes down. He pays attention to the news, keeps buying when the price goes down and continues to reduce his average price.

Ionita reminded us that you can make more money with manual trading if you know what you’re doing. Most people aren’t professional traders, though, and can get wrecked in a bear market if they don’t stay on top of things. He recommends that these traders use an automated algorithm.

Smart Trading — Entering and Exiting with Confidence

Centieiro explained how he enters a trade: he buys BTC and holds it for at least a few years, looking for a relatively cheaper price as compared to previous prices. This is determined by a look at the 200-day moving average. He also looks at the Crypto Fear & Greed Index. Centieiro explained that investors must decide how long they plan to hold BTC 

 buying it. He invests a portion of his investment amount at one time, and spreads the rest of his investment out over several weeks.

Ionita, however, holds his BTC over several months. He looks at Fibonacci and other charts to invest funds in BTC and several other assets, based on risk. He maintains a specific allocation, with more allocation to the least risky assets.

This session of the Learn 101 livestream highlighted “Will Bitcoin Soar to $100K by 2024?”

As part of the livestream, Bybit is holding an 

 that offers you a chance to participate in our pop quiz and win a share of 300 USDT in airdrops. The event period is through September 18, 2024, 11:59PM UTC.

Stay tuned for more discussions on the dynamic world of cryptocurrencies!

Intermediate

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Learn Live ICYMI: Will Bitcoin Soar to $100K by 2024?

Self Chain (SLF) is a Layer 1 network that provides a cross-chain keyless wallet solution, along with modular intent-based transaction execution capabilities.

 can be tedious and frustrating, especially for beginners. At the same time, careful private key management is crucial if the user wants to avoid security breaches or the loss of access to their wallet. 

Wouldn't it be great if you could transact securely on blockchains using your social media logins while also enjoying the cryptographic protection features provided by crypto wallets? And without the need for private key or 

This is exactly what Self Chain (SLF), an innovative 

 blockchain project, offers to the crypto user community.

multi-party computation — threshold signature scheme

 (MPC-TSS), Self Chain offers keyless wallet services that let you transact across multiple chains and applications. Additionally, its solution comes with a large language model (LLM) intent-based chat assistant to find you the best deals and transaction options in the cryptocurrency world.

 (SLF) is a decentralized platform that describes itself as the first modular intent-centric access Layer 1 blockchain. 

It provides two key services: an AI-driven chat assistant that helps users carry out intent-based transactions, and a keyless wallet solution that facilitates multichain logins and transactions without the need for private key or seed phrase management. Self Chain’s Layer 1 network is based on the popular Cosmos SDK blockchain development framework. 

 (ATOM) ecosystem, Self Chain uses the delegated proof of stake (DPoS) block processing method, with validator nodes securing the network.

The project was initially called Frontier (FRONT). It began its network operations with the launch of an incentivized testnet in April 2021. In mid-2024, Frontier was rebranded to Self Chain and launched its mainnet.

Self Chain's AI chat assistant accepts voice and textual inputs from the user, and searches multiple blockchain platforms and 

 (DApps) to find the best possible deals. This service can be used in various areas, including 

 (DeFi). For instance, crypto gamers can use Self Chain’s intent-based search for the best deals on gaming 

 assets, while DeFi traders can instruct the assistant to find the best rates for specific coin swaps.

The platform's keyless wallet infrastructure service allows users to securely use email- and social media–based 

 logins to blockchain apps and platforms. This is enabled by splitting the wallet's seed phase into three parts, each stored separately — one encrypted on the user's device, the second encrypted and stored on the Self Chain network in a decentralized manner and the third reserved for wallet recovery purposes..

The platform's chat assistant is based on an LLM model that transforms user inputs into signed automated intent instructions. These instructions are passed to Intent Searchers, entities that scout the blockchain ecosystem for the best deals and most efficient paths for the intended transaction. Once the optimal source is found, Intent Searchers pass the request to intent solvers, whose job is to execute the transaction.

Blockchain DApps that aspire to become Searchers and solvers within the Self Chain ecosystem can use the Intent DSL SDK, a development framework offered by the platform. Using the SDK, DApps can integrate into the platform's architecture and translate user intent commands into executable searches and transactions.

The Self Chain keyless wallet service is powered by MPC-TSS technology, which permits splitting the user's private key, seed phrase or other secret identifier into multiple fractions, each stored independently to avoid a single point of failure. As a security technology, MPC-TSS predates blockchain, and can be applied in a chain-agnostic manner.

In Self Chain's implementation of MPC-TSS, there are three seed phrase fractions, with the two main ones — the Personal Share and the Remote Share — held on the user's device and the blockchain, respectively. When an operation is carried out, the Personal Share is matched against the Remote Share to facilitate the transaction. A network of MPC nodes encrypts the Remote Share in a distributed fashion to further enhance the security of operations.

The third fraction — the Recovery Share — is used solely to restore access to the user's device or add a new device.

Thanks to this chain-agnostic keyless system, users can retain the self-custody of their wallets, enjoy the security of the blockchain's cryptographic protection and use keyless logins on a myriad of platforms.

Self Chain lets users enjoy multichain account abstraction (AA), whereby wallets can carry out complex operations without you needing to worry about the specifics of underlying technology. For example, Self Chain–based wallets can execute bundled transactions, carry out cross-chain operations and optimize gas fees, all without user intervention.

What Is the Self Chain Crypto Token (SLF)?

During the project's mid-2024 rebranding from Frontier to Self Chain, its native cryptocurrency was migrated from the FRONT token on the 

 (BNB) to the SLF coin, native to the Self Chain's Layer 1 network. The migration was announced in late August 2024, and as of the time of this writing (Sep 16, 2024), FRONT holders can still migrate their tokens, with no specific conversion deadline provided by the project team.

SLF is used for a wide variety of functions on the Self Chain platform, including the following:

SLF has a total and maximum supply of 360 million. The coin's supply allocation shares are per the chart below:

The SLF coin is available on Bybit as a Perpetual contract with USDT (

). Under this contract, you can trade SLF with up to 12.5x leverage.

Self Chain's innovative system simplifies keyless multichain web3 access, while the versatile LLM assistant helps efficiently interpret user intent to conduct diverse transactions across networks. This is a functional set that few other projects in the industry can provide. In particular, the keyless wallet solution is something that truly sets Self Chain apart. 

While there are a few crypto projects that utilize an intent-focused approach and AI-based chat assistants, Self Chain’s keyless functionality is a rare feature that will undoubtedly attract interest from a variety of users. Navigating myriad DApps and networks and transacting on them without the need for meticulous private key management has just gotten a lot easier — all thanks to Self Chain and its implementation of MPC-TSS.

Advanced

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Self Chain (SLF): The Future of Secure Private Key Recovery

Stacks is integrating with the Aptos Network to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token.

The SPX index was up by 0.03%, with key sectors underperforming, including healthcare, consumer staples, and real estate, while energy, consumer discretionary, and industrial stocks outperformed. Coindesk Indices, an index measuring broader cryptocurrency market performance, was up by 2.95%, with Bitcoin and Ether rising by 3.62% and 3.16%, respectively, in the past 24 hours.

Today's top performer is SAGA, which surged 27.3% following its announcement of a new economic model focused on sharing in project success rather than charging gas fees.

Saga (SAGA), founded in 2021, is a Layer 1 blockchain protocol that allows developers to create customized chains for their applications, providing shared security and scaling solutions. 

 focuses on sharing in the success of projects built on its platform, rather than charging gas fees. Projects can launch cheaply on Saga's chainlets, and Saga takes a small cut of token activity once bridged through its infrastructure. As projects grow and their tokens become valuable, Saga can hold, use, or sell these tokens to fund ecosystem growth and buy back $SAGA tokens. This creates a network effect where success drives further success, positioning Saga as a key platform for value generation in web3.

Check Out the Latest Prices, Charts, and Data of 

 to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token. This integration allows Bitcoin to be used beyond a store of value, enabling participation in DeFi, gaming, AI, and social platforms on Aptos. The integration follows the resolution of an SEC investigation into Stacks, clearing the path for further Bitcoin scaling advancements. Stacks' recent Nakamoto upgrade has improved its transaction speeds and block production, facilitating this new cross-chain capability.

Yesterday, The total flow for BTC Spot ETFs was $186.8 million, with $0 from GBTC and $186.8 million from non-GBTC sources.

 on Optimism’s OP Mainnet, with 185 million WCT tokens being airdropped to users. The airdrop registration opens on September 24, targeting users who engage with WalletConnect or contribute to open-source projects. WCT tokens will drive WalletConnect's governance and economic structure, initially non-transferable until 2025. The newly formed WalletConnect Foundation will oversee the protocol's transition to a permissionless structure. WalletConnect aims to decentralize further and has seen 240% growth in the past year.

Beginner

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Stacks Integrates with Aptos, Expanding Bitcoin’s Utility to dApps and DeFi

Explore our article to find out what’s the Cipher Code for today’s Hamster Kombat’s Daily Cipher Code.

, where managing your crypto exchange meets the intellectual challenge of daily Morse code puzzles. Released each day at 7PM UTC, these puzzles do more than just test your mental agility; they offer significant rewards that can enhance your strategic influence in the game.

, challenging you to decipher a Morse code each day. Successfully solving these puzzles not only boosts your coin reserves, but also sharpens your critical thinking skills, enhancing both your gameplay and strategic planning.

Today’s Hamster Kombat Daily Cipher: Sep 18, 2024

 Daily Cipher for Sep 18, 2024, is as follows:

 —•••   ••   —•   •—   —•   —•—•   • 

Ensure each Morse code sequence is entered with precision and slight pauses between letters to confirm correct execution and secure your reward.

Gain an early advantage by trading HMSTR tokens through Bybit’s Pre-Market Trading. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

Today's Daily Cipher and the interactive gaming activities available within 

 provide ample opportunities to boost your coin balance and deepen your engagement with the game. Each puzzle you solve not only contributes to your financial growth, but also refines your analytical skills, making every gaming session both rewarding and intellectually stimulating.

Stay tuned for daily updates and expert strategies to maintain your competitive edge in the thrilling world of 

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A Guide to Hamster Kombat's Daily Cipher Code (Sep 18, 2024)

Bybit Learn

Crypto

Will crypto recover? Some of the factors that could cause crypto to recover include increased uses for crypto and decreased interest rates. Learn more here.

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In early July 2024, Bitcoin took a notable dive, dropping to around $54,000. This decline was driven by a mix of factors, including market liquidations and upcoming payouts from the Mt. Gox bankruptcy. 

Recently, however, the mood in the crypto world has shifted dramatically. The attempted assassination of Donald Trump, the U.S. pro-crypto presidential aspirant, unexpectedly sparked optimism among investors. This boost in sentiment led to Bitcoin's price jumping by nearly 10%.

As the market begins to stabilize and political events continue to unfold, there’s growing speculation that cryptocurrencies might soon be on the path to recovery.

A Timeline of Events Leading to Crypto’s Crash in 2022

When the COVID-19 pandemic first started, there were a lot of doomsayers who believed the crypto world was about to 

. However, 2020 and 2021 were marked by a 

. This occurred for many reasons, among them new market innovations and more people becoming interested in trading. Bitcoin

, and several coins hit all-time highs. However, the soaring prices of the bull market couldn't last forever.

Inflation worries ignited in late 2021, heightening fears of increased borrowing costs and triggering a crypto downturn. Bitcoin peaked at $69,044.77 on Nov 10, 2021 before tumbling to a low of $46,696.30 by mid-December as investors sought safer havens. The sell-off extended into January 2022, with Bitcoin falling further to $35,180.44.

TerraUSD (UST), an algorithmic stablecoin, became unstable and dropped below the $1 threshold in May 2022. This resulted in its sister token, LUNA, crashing, causing market panic and 

. Bitcoin further fell to $19,047.42 by mid-June, half of its value six months prior, as macroeconomic factors like persistent inflation and central bank policy weighed heavily.

June 2022 saw the crypto market hit rock bottom. Key platforms like Celsius Network and Binance halted withdrawals, due to severe market conditions. Notably, Celsius Network had to 

 after having expanded more than five times since the end of 2020. Three Arrows Capital 

, and Bitcoin lost around 38% of its value in June, its worst month on record.

 started in July with Three Arrows Capital, followed by 

. Their downfall was linked to risky strategies, loan defaulting and liquidity drying up. Meanwhile, Sam Bankman-Fried, the CEO of FTX, was positioning himself as an industry savior. 

However, FTX also fell into trouble in November 2022. As one of the largest crypto exchanges in the world, FTX had a huge impact on crypto prices. When rumors about the exchange's instability first surfaced, crypto prices began to wobble. It briefly looked like things would recover when Binance decided to look into buying FTX. However, Binance eventually announced the platform was too risky to buy and walked away from the deal. This led to a sharp drop in crypto prices, and in November 2022, Bitcoin fell to $15,742.44.

Investors like Sequoia Capital and Multicoin Capital, who had backed FTX heavily, marked their investments down to zero and anticipated heavy losses. 

, founder of fintech venture firm Launchpad Capital, pointed to a trust crisis in the crypto world, further destabilizing the industry.

Though the FTX bankruptcy caused the greatest single sudden drop, there are many other factors that caused the long-term decline in crypto prices. Some experts believe the first signs of the crypto crash occurred in the spring and fall of 2022. As mentioned, several innovative projects that had attracted a lot of buzz from the crypto world — such as Terra, Voyager and 

 — all failed. This caused a lot of uncertainty as investors realized many crypto projects were less reliable than they appeared.

Furthermore, investment prices began to drop due to high interest rates. As the Federal Reserve raised interest rates to curb inflation, crypto prices started to slow down and then decline. Without a lot of easy money available, big-time investors had fewer opportunities to put funds into the crypto market.

The final contributing factor was the federal crackdown on cryptocurrency. As crypto became more popular, its ability to run under the radar faded. Several notable cases, such as the Securities and Exchange Commission (SEC) 

, eroded public trust in the crypto market. Ultimately, all of these factors combined to cause significant dips in crypto prices. Since 2021, the overall market cap for crypto has 

In January 2024, the U.S. Securities and Exchange Commission approved 

, sparking a rebound in cryptocurrency prices. Bitcoin prices surged by 

, and other top cryptocurrencies also recovered significantly. However, by early July, momentum had faltered and the global cryptocurrency market experienced a notable downturn, 

 to approximately $2.114 trillion. After a period of recovery, this decline left many industry watchers speculating about the causes. Following are some of the possible factors.

Together, these factors have likely created a challenging environment for the cryptocurrency market in 2024.

So how's the crypto market been since crypto winter? So far, it hasn't recovered by much. The total market cap was hovering around $3 trillion for a while, but it plummeted to around $800 billion by late 2022. Early 2023 saw the total market cap rise above $1 trillion again, and it has mostly stayed in the $1 trillion to $1.3 trillion range since. Then, in early 2024, it jumped to $1.67 trillion. 

However, this growth was short-lived. The market dipped again as inflows into U.S. Bitcoin Spot ETFs slowed and news of the Mt. Gox Bitcoin transfer surfaced. Despite these setbacks, a shocking event — the July 14 attempted assassination of former President Trump — led to a 

 The attack, which seemed to boost Trump's prospects of winning the election, was perceived as positive for the crypto market, due to his reputation as crypto-friendly.

In response, Bitcoin saw a remarkable 10% gain within a week, reaching $63,604.15 by Jul 18, 2024. Currently (as of Jul 30, 2024), the total cryptocurrency market cap stands at $2.5 trillion.

While the overall market has been stabilizing at an overall lower price, individual cryptos have had some noteworthy movements. Taking a close look at some of the major crypto projects reveals a few other notable trends in the past performance of the crypto market.

What Factors Could Contribute to a Crypto Rebound?

The cryptocurrency market recently took a hit, with Bitcoin and other digital assets seeing a sharp decline in value in early July 2024. This downturn was largely driven by 

: growing economic uncertainty in the U.S., a more aggressive stance from Federal Reserve officials on interest rates and significant withdrawals from Bitcoin Spot ETFs. However, several potential drivers could lead to a rebound in the cryptocurrency market:

A potential second Trump presidency could significantly contribute to a crypto recovery due to his pro-crypto leanings. Trump's recent campaign has embraced cryptocurrency, positioning him as a "crypto president" who supports the industry. Following a thwarted assassination attempt, optimism surged around his chances of winning, leading to a sharp increase in Bitcoin's value. Investors are betting on the "Trump trade," anticipating that his administration would oversee a more favorable regulatory climate for cryptocurrencies, contrasting with the stricter policies seen under the current administration. This shift in sentiment could drive renewed interest and investment in the crypto market.

If upcoming economic data, like the personal consumption expenditures (PCE) price index, indicates that inflation is under control, it could boost investor confidence and encourage more investment in cryptocurrencies.

When it comes to crypto investing, regulation isn't necessarily a bad thing. Proper regulation can help with issues such as sketchy crypto firms overpromising and under-delivering. However, when regulations seem to come out of nowhere, and only apply to certain parts of the crypto industry, it causes uncertainty that drives prices down. The only way to fix this problem is to have clear, reliable regulations that crypto investors can count on. More stability on the regulation front will help the market avoid further declines in pricing.

Positive news or endorsements from influential figures could shift investor sentiment, creating a bullish trend and encouraging more investment in cryptocurrencies.

Institutional interest in crypto from financial heavyweights like BlackRock and Fidelity partly triggered the 2023 BTC price surge. Increased investment from institutional investors, especially if they show faith in the market’s long-term prospects, could have a significant positive impact on prices and market stability.

Recently, rising interest rates have been one of the main causes of declines in the crypto market. High interest rates have always been 

Not only do rising interest rates cause market uncertainty, but they also make it harder for investors to obtain capital. Many end up pulling their funds out of the crypto market and switching to less volatile investments. A prerequisite for getting all this investment capital back into crypto is for interest rates to start declining again.

The cryptocurrency market has shown impressive performance in 2024. Following a strong finish in 2023, its market cap surged to a high of 

, with Bitcoin prices rising by over 48% year-to-date, and Ethereum up by 43% so far this year.

Several factors have contributed to this positive trend. Regulatory changes, such as the SEC’s new rules allowing Ethereum Spot ETFs, have bolstered market confidence. Also, the potential for the Fed to cut interest rates later in the year could further spur crypto prices.

The current bull market is also fueled by growing confidence in 

 (DeFi) and increasing adoption of cryptocurrencies by mainstream companies. The sustainability of this upward trend will likely depend upon the continuation of favorable regulations, technological advancements in the crypto space and overall global economic health.

While market volatility makes it challenging to predict exactly when cryptocurrencies will recover fully, current trends suggest the market could continue to grow through 2024 and possibly reach new heights by late 2024 or early 2025. However, it’s important for investors to stay informed and consider the risks, as predictions are speculative and the market can be unpredictable.

The cryptocurrency market is beginning to show signs of recovery, buoyed by a reduction in liquidations and a surge of optimism from recent political events. Experts are optimistic about a rebound beginning in August, likely fueled by the end of heavy liquidations and a fresh wave of investment inflows. A Trump presidency, clearer regulations and positive economic indicators could also contribute to a full recovery. As shown by growing institutional interest and ongoing technological advancements, the crypto market's resilience suggests a solid foundation for future growth and stability.

Understanding the Future: Will Crypto Recover?

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