Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

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Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bitcoin

Trading

Strategies

There is no better time to trade Bitcoin than now. Learn four Bitcoin trading strategies and more tips that will make your trades a success.

After experiencing a price decline of over 75% between 2021 and 2022, 

 has staged an impressive recovery, surging to $35,000 in early November 2024 and marking a level not seen in almost two years. Since its bottoming in November 2022, Bitcoin’s new bull run is drawing investors and traders back into the market. 

Additionally, regulatory changes are fueling Bitcoin's upward momentum, with the emergence of instruments like Bitcoin ETFs making a notable entrance to the scene. Interested in being a part of this Bitcoin rally? In this article, we delve into various strategies for you to easily reap profits in your Bitcoin trading in 2024.

Bitcoin trading has gained tremendous popularity in recent years, offering investors an opportunity to profit from the volatile nature of the world's most famous cryptocurrency. With the emergence of new financial products like Bitcoin exchange-traded funds (ETFs), the Bitcoin trading landscape is evolving significantly.

Bitcoin trading refers to the practice of buying and selling Bitcoin in financial markets to make a profit. Traders can participate in the Bitcoin market through various platforms, including cryptocurrency exchanges, brokerages and — in the near future—Bitcoin ETFs.

There are many different products for traders to invest in that mimic Bitcoin’s price movements. 

For example, cryptocurrency exchanges offer spot trading, options and futures contracts for investment and trade. Additionally, there are contracts-for-difference (Bitcoin CFDs), which are a form of Bitcoin derivative. CFDs allow traders to speculate on the price movements of Bitcoin on a short or long-term basis and profit from price changes without actually owning any coins. 

Lastly, Bitcoin ETFs are entering the trading arena.

In 2024, one of the most significant developments in the world of Bitcoin trading has been the introduction of the Bitcoin exchange-traded fund, or 

. This financial instrument is designed to make it easier for traditional investors to gain exposure to Bitcoin without the complexities of owning and managing the actual cryptocurrency.

A Bitcoin ETF is structured like a traditional exchange-traded fund, but holds Bitcoin as its underlying asset. This means that by investing in a Bitcoin ETF, you have indirect exposure to the world’s largest and first successful cryptocurrency without the need to set up and secure a 

. Bitcoin ETFs are traded on major stock exchanges, just like stocks, making them more accessible and familiar to traditional investors.

, have applied for approval to launch a Bitcoin ETF, with their applications anticipated to be granted. Once these Bitcoin ETFs receive the green light, demand for Bitcoin is likely to increase as Bitcoin becomes more accessible to a broader range of market participants.

Opening an account and creating a Bitcoin wallet is a quick and easy process. Here's a step-by-step guide on how to start Bitcoin trading in 2024.

Choosing the right cryptocurrency exchange is critical. Look for a platform with a good reputation, high security standards, a user-friendly interface and consistently recommended customer service and satisfaction, such as Bybit, which is a highly reliable exchange with diverse Bitcoin trading options. 

Additionally, ensure your selected exchange can offer cryptocurrency trading to your country of residence. This is crucial, as exchanges are becoming increasingly regulated to operate based on each country's rules and guidelines.

Sign up for an account on your chosen exchange. This process typically involves providing personal information, verifying your identity and setting up security measures, such as two-factor authentication. Remember to store your login credentials and recovery information securely.

Once your account is set up, deposit your preferred fiat currency (e.g., USD, EUR) or other cryptocurrencies into your exchange wallet. This is the capital you'll use to start trading.

With funds in your exchange wallet, you can begin trading. Familiarize yourself with the different trading pairs and order types. Some common trading pairs include BTC/USD, BTC/ETH and BTC/USDT. Make informed decisions, 

 to mitigate risk and consider utilizing 

Crypto trading is inherently volatile, and prices can fluctuate rapidly. It's crucial to 

 by investing no more than you can afford to lose. Diversify your portfolio to spread out your risk, and establish a clear trading strategy with entry and exit points.

Stay updated with the latest news and developments in the cryptocurrency space. Both 

 are great places to glean recent developments. 

Market sentiment can change rapidly in response to news events, regulatory changes and technological advancements. Use reliable sources of information to help you make informed trading decisions.

Bitcoin trading can be both exhilarating and challenging. It's essential to exercise patience, discipline and emotional control. Avoid making impulsive decisions, and be prepared for both gains and losses.

There are a variety of strategies for Bitcoin traders to implement. Below are just a few of the more common types of Bitcoin trading strategies.

ing ("holding on for dear life”), a long-term directional position that Bitcoin's price will increase over time. This strategy is less concerned with daily, weekly or monthly price movements, instead focusing on the long term.

Traders consider the current price of Bitcoin and how it compares to its long-term potential value. They may look at blockchain fundamentals or long-term price momentum indicators on weekly or monthly price charts.

 the Bitcoin trader wants to capitalize on medium-term trends in the market. Swing traders believe the market doesn’t move in a straight line and will experience large corrections from time to time. 

Therefore, a swing trader will want to lock in profit on a bull trend, then short or wait to re-buy at a better value. This allows the swing trader to better utilize their capital than waiting through long corrections. Most swing trades are held open for a couple of days to a couple of months.

, as holding Bitcoin positions overnight can incur overnight funding charges. Therefore, they seek shorter-term trades that they can open and close on the same day.

The day trader’s strategy is to analyze short-term price chart patterns and find small opportunities that are repeatable each day. Day trading relies heavily on chart reading and technical analysis.

 is a shorter-term, more active trading style than day trading. Scalpers are in the market for minutes at a time, trying to pick up just a couple of points each trade. Since this form of trade requires speed, many scalpers utilize automated trading, which lets them create a custom program for their trading strategies.

Scalping typically involves a high win rate and is very risky. It only takes one losing trade to eat up the profit from several winning trades.

Trading Bitcoin is a challenging endeavor, given the cryptocurrency's inherent volatility. To succeed, you’ll need a robust strategy and a commitment to continuous learning. Here are some valuable tips to help you navigate Bitcoin trading successfully in 2024 and beyond.

When it comes to trading Bitcoin, knowledge is power. Before making any trade, invest your time in researching the cryptocurrency market. Review Bitcoin’s historical price trends and the size of its typical drawdowns and corrections. It’s critical that you take the time to review and study factors that influence Bitcoin’s value, so we’ve compiled the following list.

Fundamental analysis in this case involves assessing the intrinsic value of Bitcoin by evaluating the factors that drive its price, such as adoption rate, network security and 

, regulatory developments and macroeconomic trends. For example, regulatory changes in major economies can have a substantial impact on Bitcoin's price.

Technical analysis is the study of price charts, trading volume and historical data to identify trends and predict future price movements. Traders use various indicators and patterns to make decisions. 

 and additional techniques can provide insights into market sentiment, as well as potential entry or exit points. Technical analysis can complement your fundamental research and help refine your trading strategy to spot ideal entry and exit prices.

Staying informed about the latest news and developments in the cryptocurrency space is essential. Market sentiment can shift dramatically in response to news events and regulatory changes. For example, developments in the approval of Bitcoin ETFs can generate more demand for Bitcoin. Ensure that you have access to reliable sources of information, such as reputable cryptocurrency news websites and official announcements from exchanges and regulatory bodies.

That said, it's crucial to differentiate between credible news and rumors, or even phony news. The cryptocurrency space is rife with misinformation and rumors that can lead to unwarranted price volatility. 

Always verify information with multiple reliable sources before making trading decisions.

Bitcoin's notorious price swings make diversification a vital risk management strategy. Instead of putting all your capital into a single asset like Bitcoin, consider spreading your investments across various cryptocurrencies. This can help reduce your exposure to Bitcoin's specific risks and create a more balanced portfolio.

Moreover, diversification extends beyond cryptocurrencies. Consider including traditional assets like stocks, bonds or real estate in your investment portfolio. Diversification can help safeguard your capital during times of extreme volatility or lack of volatility in the cryptocurrency markets.

Bitcoin trading is not without risks. To protect your capital, establish a clear risk management strategy. This includes setting stop-loss orders, defining acceptable losses and adhering to a 

. Avoid investing more than you can afford to lose, and save enough capital so you can continue to live comfortably even if you lose your entire investment.

Emotions can cloud judgment and lead to impulsive decisions. 

 are common emotions that can influence your trading choices. Create a trading plan with predefined entry and exit points, and stick to it. Make your trading plan and strategy as systematic as possible. Consider automating your strategy to help remove your emotions from trading. Emotionless trading is a key component of successful trading.

Trading Bitcoin successfully in 2024 and beyond requires a combination of thorough research, a clear trading strategy, effective risk management and a commitment to continuous learning. By staying informed, employing both fundamental and technical analysis, diversifying your investments and controlling your emotions, you can navigate the volatility of the Bitcoin market with greater confidence and potentially achieve success in your trading endeavors.

There are several ways a trader can gain access to Bitcoin with Bybit. Following are three of the most popular products Bitcoin traders use.

 is the simplest, most basic method for trading Bitcoin. New traders typically start their trading journey by interacting with spot markets.

Spot trading refers to buying and selling Bitcoin (or other cryptocurrencies) at the current market price, known as the spot price. The expectation is an immediate exchange or delivery of Bitcoin to the buyer’s account.

Spot buyers in Bitcoin are hoping that Bitcoin prices will rise over time so that they can sell Bitcoin for a profit in the future. This is popular, because spot buyers of BTC can hold onto their coins for as long as they want, with no expiration.

Another form of Spot trading at Bybit is 

, which means the trader is borrowing the funds to buy or short Bitcoin. Then, when the trade is closed out, the loan is repaid and any excess funds from the trade are considered profit. Spot Margin trading lets traders control positions larger than the value of their account by using 

As a financial product, Spot Margin trading is used by shorter-term traders. Since funds are borrowed, funding rates and interest are owed to the broker to hold the trade open. Longer-term traders would thus end up with interest eating into their profits, whereas shorter-term trades don’t incur as much in fees.

Bitcoin futures are a typical product traders like to use to trade the price movements of Bitcoin. The contracts used in futures trading at Bybit are called 

, and are a derivative product similar to Bitcoin Spot Margin trading.

Perpetual trading can be conducted using 

. This means the margin, profit and loss, and risk exposure are in USDT or USDC. There are also Inverse Perpetual contracts that allow the trader to use Bitcoin as the base currency. This means that margin, profit and loss, and risk exposure are calculated in Bitcoin.

There are very subtle differences between Perpetual contracts and Spot Margin trading, one of which is how often interest calculation is charged to the account. Perpetuals charge interest every eight hours, and only if you’re holding the position open at the end of that 8-hour shift. Spot Margin trading, on the other hand, charges interest every hour, regardless of whether or not your order has been filled.

 are preferred vehicles for trading when you’re considering more advanced strategies or shorter-term holdings. For example, a Perpetual or Inverse Perpetual trader could hold a position open for four hours and not be liable for the interest, so long as they didn’t hold the position at 12AM UTC, 8AM UTC or 4PM UTC.

Options are another popular vehicle for trading Bitcoin. 

 are contracts that give the holder the right, but not the obligation, to buy or sell Bitcoin and other cryptocurrencies at a predetermined price and at a specified time in the future.

With options, traders can bet on the rise or fall of the price of Bitcoin without committing the entire amount of the trade, and without actually owning Bitcoin. As a result, the trader can leverage their capital and put it to greater use. Options have an expiration date and other, more complex calculations that can have an impact on their value.

 to hedge a current trade or implement a strategy that involves multiple options on the same trade.

Aside from Spot, Futures and Options, there are a couple of other popular vehicles on Bybit when it comes to having a Bitcoin trading account.

. Essentially, you research the top Master Traders on the 

 and decide which one(s) to follow. When these traders open or close a position, the trade is automatically copied into your account with no manual intervention on your part. Copy trading presents an effortless way for beginners to start trading without having to make their own trading decisions.

 that Bitcoin traders can apply to their accounts. On the 

 you can see four types of trading bots: 

. Each bot is designed for different purposes, so you can choose the one that best matches your trading goals. Every bot also offers an Auto-Fill function, with fixed parameters to follow, making trading a simple and hassle-free process for beginning traders. 

Key Factors Influencing Bitcoin’s Price

Several factors play an important role in determining Bitcoin’s price movements. Understanding these factors will help investors and traders more successfully navigate the Bitcoin market.

Bitcoin operates on a fixed supply schedule. There will only ever be 

 in existence, a scarcity that’s integral to its value proposition. As more people seek to acquire and hold Bitcoin, increased demand puts upward pressure on BTC’s price. Conversely, a decrease in demand can lead to price declines.

One of the most significant events impacting supply and demand is a 

, which occurs approximately every four years. The next halving is anticipated to occur in April 2024. During this event, the rate at which new bitcoins are rewarded for BTC 

 is reduced by half. The supply of new coins is consequently reduced, and can lead to price appreciation as the market adjusts.

 ("market cap") is another key indicator of its overall value. Market cap is calculated by multiplying the current price of one Bitcoin by the total number of bitcoins in circulation. It provides insights into the relative size of the cryptocurrency as compared to other assets or cryptocurrencies.

Growing market cap signifies an increase in Bitcoin's total value, attracting more investors and attention. This increased demand can drive up its price. However, market cap alone doesn't account for the distribution of ownership or the circulation of coins, which can vary significantly among cryptocurrencies.

The cryptocurrency landscape is constantly evolving, with thousands of alternative cryptocurrencies (

) competing for attention and investment. Bitcoin faces competition from projects like 

, each offering unique features and use cases.

Competition can have a significant impact on Bitcoin's price. If an altcoin gains popularity and captures a substantial share of the crypto market, it may divert investment away from Bitcoin. Conversely, advancements in Bitcoin's technology or increased adoption of the coin can help it maintain or strengthen its position as the dominant cryptocurrency.

Bitcoin Trading Strategies for Success in 2024

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards