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)

Trading

Understanding the principles behind long vs. short trading is imperative for every trader. Read all about it here.

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Long or short? That is the question. When it comes to trading, we call long positions the buy orders that are placed by traders who want to benefit from the ascending price of an asset — in this case, cryptocurrencies. On the flip side, short positions are sell orders that are typically placed in

While the concept of long and short is simple, understanding the principles behind long vs. short trading is imperative for every trader.

Long and short positions suggest the two potential directions of the price required to secure a profit. Traders who go long expect the price to go up from a given point. Those who go short hope that the price will decline from the entry point.

Going long is also equivalent to buying the cryptocurrency or opening a long position, while going short is equivalent to selling the cryptocurrency.

In a long position, the crypto trader has purchased a virtual currency and is waiting to sell when its price moves higher. Some traders are inclined to go long more often than going short. We call such traders bulls, as they try to benefit from bullish markets. 

This is especially true for the cryptocurrency market, which is usually headed toward expansion. If you check larger time frames, Bitcoin — the largest digital currency by 

 — has been forming higher highs since its release more than a decade ago.

At the beginning of 2021, it updated the all-time high. This is also true for most virtual currencies, which benefit from general bullishness. Thus, it happens very often that short sellers are trading against the market.

However, even though the crypto market is gradually expanding, it displays major corrections after almost every rally, so there is plenty of room for bearish investors as well. Those who go short are betting against the cryptocurrency, and expect its price to decline.

The concept of long and short positions is universal and works for all markets and assets. Moreover, it can be integrated with hybrid investment products like derivatives, which are tradable instruments that track the price of an underlying asset. 

Thus, derivatives allow you to go long on a given asset without actually owning it. For example, futures exchanges let you leverage the fluctuations in the Bitcoin price without buying or selling the cryptocurrency. You can think of derivatives as a form of betting on the price of an asset.

Traders can mix long and short to create reliable hedging strategies that can minimize potential losses.

Differences in Short vs. Long Positions 

Short and long positions are antagonistic in nature. When a long trade is generating profits, a short trade on the same digital asset is depleting the balance.

Also, the psychology of bulls and bears differs in the sense that bears tend to be more conservative, while bulls like to risk and experience new strategies. However, these are only stereotypes. Short sellers are also taking risks during

As mentioned, short trades are the ones that generate profits when you bet against a cryptocurrency. Generally, when you sell a cryptocurrency, you buy the quote currency, whether it’s fiat or crypto. Thus, if you sell Bitcoin, you buy US dollars, USDT, or any other altcoin or fiat currency.

Traders should go short when they expect the price of a digital currency to go down. For instance, if you are a day trader and feel that the price of Bitcoin will decline during the following days or even weeks, you would be interested in opening a short position. You can either sell Bitcoin for fiat and then buy it at a lower price or go short via futures, options, contracts for difference (CFDs), or other derivatives.

Needless to say, you should first analyze the market and then make a decision. Day traders should rely on both technical and 

 token, you may want to check whether the project is viable, has secured investments from well-known blockchain investors, or perhaps has partnered with well-established firms.

You can check the sentiment on social media and news sites. Besides conducting fundamental analysis, you can analyze the price action itself. You can use indicators and look for chart patterns.

 that anticipate a price correction or downtrend. Some examples of bearish chart patterns are the

, and Triple Tops, among others. As for bearish candles, you should look for the

Some traders prefer to go short when the price of a cryptocurrency breaks below a

. This is especially relevant if the price has been trading within a channel for a while, whether the channel is

Alternatively, you can go short by leveraging the price swings inside the channel itself. Thus, you don’t have to wait for a breakout. Instead, when the price is touching the resistance of a channel, you can go short with the hope that the price will go to test the support level again.

Irrespective of the kind of analysis you prefer, you have to feel confident that the price will decline if you plan to open a short position. Otherwise, you will find yourself trading against the market.

If the market is bullish, traders would be interested in going long. Opening long positions can generate considerable profits during rallies, like the one we saw at the end of 2017 or the current long-term rally that started in November of 2020.

As explained earlier, you should make sure to back your move with reliable market analysis. You can wait until the price breaks above a strong resistance or go long during the ongoing rally with the hope that it will continue for a while.

Another approach preferred by wealthy investors is to simply buy and hold the cryptocurrency. In this case, they are not trading it actively, but simply holding it for months or even years with the expectation that the cryptocurrency will increase in value despite corrections and adjustments.

This strategy requires large deposits and is not suitable for retail traders who seek to speculate on the short-term fluctuations of Bitcoin and altcoins. On a side note, large traders defy current market trends as they buy the dip and sell the rip, meaning that they go long when the price is correcting.

Day traders may wait until the price touches the oversold level of the Relative Strength Index (RSI) or 

Otherwise, buy traders can use chart patterns, such as the Double Bottom, Inverse Head and Shoulders, Ascending Triangle, or Hammer. There are also bullish candlestick patterns, including the Hammer and Dragonfly Doji.

Keep in mind that the cryptocurrency market is not mature compared to foreign exchange or equities. Hence, the technical analysis might not work that well, as the price can often take you by surprise. Still, you should consider all factors that can make a difference in the trend.

The good news for bullish traders is that unlike forex pairs, which have no specific long-term target, digital currencies act like company stocks. They are mostly traded against the US dollar and tend to move higher.

Can I Go Short or Long in All Financial Markets?

Yes. Traders go long and short in all markets. In fact, this is the very definition of trading, so you can’t do otherwise, irrespective of the market.

If you trade derivatives, there are more complex forms of long and short. For example, if you trade options, you use several combinations of long and short.

Options are contracts that give holders the right (but not the obligation) to buy or sell an underlying asset at a predetermined strike price, on a specific date or prior to it. They are quite popular in all financial markets. As a rule, traders use call options to go long and put options to go short.

However, they can also mix these. For example, traders can short-call positions as well as put positions. If you short a call option, you are bearish on the outcome of that specific call option, which is bullish. Therefore, it means you are

 on the price of the underlying asset. In a similar fashion, you can go long on both 

Long and short positions are the essence of trading, and traders strive to understand the forming trends in order to make the right decisions. Still, going long or short is only half of the job, as finding the best entry point is also very important.  

Last but not least, some crypto exchanges provide margin trading, which can greatly amplify the targets of long and short positions. However, you should be aware that the risk when using leverage is higher than when trading with your funds alone. 

The Differences of Long vs. Short Positions in Crypto Trading

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