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

Stablecoin

DeFi

Altcoins

USDe is a synthetic dollar cryptocurrency with a soft peg to USD, maintained via automated delta-hedging trading operations.

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 cryptocurrencies have revolutionized the crypto market since their arrival more than ten years ago. Assets like 

 and other popular stablecoins have been instrumental in reducing the volatility of crypto trade and connecting the worlds of crypto and fiat currencies.

However, along with their advantages, most of these stablecoins have significant drawbacks and risks, including their high dependence on the traditional banking infrastructure. USD-backed assets like USDT and USDC face the critical problem of overreliance on the custody of a single, centralized issuer. 

 are inherently unstable, making them challenging to scale effectively while maintaining a stable peg. On top of that, these stablecoins usually require excessive overcollateralization.

USDe is a synthetic dollar asset issued by 

 that doesn't suffer from these common limitations of stablecoins. Backed by delta-hedging 

 markets, USDe is completely decentralized, has no single custodian and is characterized by high scalability and stability. By using 

 techniques for USDe's underlying backing assets, Ethena can offer a USD-pegged crypto unlike what's been available on the market so far.

 is a synthetic dollar asset that maintains a soft peg to the USD through delta-hedging of its underlying assets during minting. 

 (DeFi) platform on the Ethereum blockchain. Its users can flexibly acquire, stake and liquidate their USDe holdings with 1:1 collateralization.

A number of popular high-cap cryptocurrencies, such as 

) can be used as collateral to mint USDe. These volatile backing assets are delta-hedged on the market to help maintain USDe's peg to the U.S. dollar. Delta hedging is a popular risk-reduction trading approach frequently used in 

 markets. Delta hedgers reduce their investment risk by taking offsetting positions in the target asset.

In the case of USDe, Ethena opens and closes 

 for USDe's underlying assets on derivatives exchanges. When a user mints USDe by providing collateral in an underlying asset, a short perpetual position for the collateral asset is opened. Conversely, when a user decides to liquidate their USDe and redeem their collateral, Ethena closes a short perpetual position. All these position opening and closing operations are executed automatically using 

The entire process of opening and closing perpetual futures positions is designed to maintain a stable rate for USDe against the greenback. Since USDe isn't directly backed by U.S. dollar reserves, and doesn’t act as a typical overcollateralized algorithmic stablecoin, it's referred to as a synthetic dollar asset rather than a stablecoin.

 USDe. This is in order to protect the system's stability, and to guard against malicious actors and market manipulators.

USDe's issuer, Ethena, is an Ethereum-based DeFi platform launched by Ethena Labs, a blockchain startup founded in 2023 by Guy Young. The protocol launched its native cryptocurrency, ENA, in early April 2024. Although Ethena's scope isn't limited to enabling USDe, the synthetic dollar asset is its flagship product, and the protocol currently heavily focuses on supporting it.

An important feature of Ethena is its use of 

. To maintain USDe's peg stability, the protocol needs up-to-date, real-time information derived from a variety of on-chain and off-chain sources. This is achieved via external oracles that feed price data into the system.

To source external price data, Ethena uses the 

Minting and redeeming USDe, two fundamental processes continuously executed on the platform, determine Ethena’s opening and closing of market positions. Minting is the process of creating new USDe by providing collateral. Currently, USDe can be minted by providing collateral in ETH, BTC, USDT and stETH.

Ethena's user interface and API allow whitelisted users to mint and redeem USDe.

. There's no overcollateralization involved in the minting process, so users only need to pay transaction processing charges and 

 beyond the collateral. Ethena's minting process is designed to reduce 

, and is transparent, since users have to acknowledge the minting price (which includes a predetermined slippage range). As outlined earlier in our article, collateral funds are then used to automatically open a short perpetual position.

Although direct USDe minting via the protocol is open to whitelisted users only, the synthetic dollar is freely available to any crypto investor through external exchanges, which include 

In order to redeem USDe, an Ethena user burns their synthetic dollar holdings by sending them to a smart contract address, and receives their collateral back via 

. Redeeming doesn't have to be for the full amount of the original collateral. With Ethena, you can redeem collateral in part or in full.

The USDe synthetic dollar can also be used to earn 

 rewards on Ethena. When a user locks their USDe funds on the protocol, they’re issued a staked USDe asset called sUSDe. This asset serves as confirmation of the stake, and is also used to accrue yield every eight hours.

USDe staking is quite flexible, and a user can unstake their funds at any time. However, staking is currently available only in certain jurisdictions. The list of countries may change, so it's always a good idea to enquire directly with the project to see if your jurisdiction is supported.

As of mid-June 2024, Ethena's USDe staking pool pays an annualized 

The stability of the Ethena ecosystem relies on its hedging system, which is used to ensure the proper balance of open and closed positions and collateral reserves. This system comprises several off-chain services, including the oracles mentioned above. Key roles of the hedging system include:

The hedging system is also crucial to a secure collateral management process. Ethena uses an off-exchange settlement (OES) process to manage the custody and transfer of collateral used in automated derivatives trading. Under this OES system, custody of the underlying asset is transferred to entities external to the derivatives exchanges used by Ethena. As positions on exchanges are opened and closed, collateral movements and custody changes are closely monitored by the hedging system. This approach maintains transparency and independent verification of assets, thereby ensuring a secure and efficient ecosystem for its users.

, a component of the overall platform, provides additional stability and risk mitigation. Designed to hold reserves that may be used during periods of negative funding to ensure the stability of the USDe peg, the reserve fund is made up of various assets, primarily the leading stablecoins USDT, USDC and ETH. Other assets may also be used as part of the fund as determined through the platform's governance decision-making.

USDe is available on Bybit's Spot market through swap pairs with several leading large-cap cryptocurrencies, including 

, you can also enjoy zero fees on Spot trade involving USDe within these swap pairs. This offer is valid through Jul 4, 2024. The campaign also offers you the opportunity to stake up to 5,000 USDe to enjoy yields of up to 30% APR. This option is valid through Aug 3, 2024.

By leveraging its unique trading mechanism, USDe can provide functions and utilities that most other U.S. dollar–pegged assets in the market lack. Unlike USD-reserve backed stablecoins with a centralized custodian (e.g., USDT, USDC or 

), USDe uses the OES custody system, a decentralized approach that ensures there's no single point of failure while offering a higher level of transparency.

USDe is also a censorship-resistant asset because it doesn’t rely on the traditional banking infrastructure that controls the emission of USD. Instead, it stores collateral on-chain in 24/7 auditable, programmatic custody account solutions. This structure enhances both the security and accessibility of the collateral that backs USDe.

The synthetic dollar also has significant advantages over algorithmic stablecoins. Probably the biggest advantage is the absence of overcollateralization requirements. Some algorithmic stablecoins, such as 

, require ample overcollateralization to ensure stability. However, for many users, it almost defies logic to provide 150% or even more in collateral value — quite a usual requirement for algorithmic assets — in order to secure stablecoin funds. 

Owing to its unique peg-maintenance mechanism, USDe is able to operate without such onerous overcollateralization requirements. In addition, this mechanism helps USDe achieve high levels of scalability, making it a useful asset for transaction and value storage within the DeFi ecosystem.

Along with its advantages, USDe carries certain risks: 

While some of these risks are relatively low, users need to be aware of their existence and USDe’s potential susceptibility to them.

USDe is a unique asset whose peg-maintenance mechanism is drastically different from those of popular stablecoins operating in the market. 

Launched back in December 2023, the synthetic dollar has demonstrated remarkable stability, and has only deviated from its peg to the U.S. dollar by minuscule amounts (and only for very short periods). In general, USDe has demonstrated the merits of its unique peg mechanism insofar as the crypto hasn't experienced any serious depegging events. Some of this stability may be a result of the carefully guarded access to the platform, since only whitelisted market entities can directly mint and redeem USDe via Ethena. 

So far, USDe has seen nothing but stability and operational success. The key question now is whether the team at Ethena is ready to make USDe minting and redeeming a public feature.

What Is USDe: Ethena's Synthetic Dollar

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