Mahathir Bayena

Bernstein, a private wealth management firm, is out with a new prediction that Bitcoin (CRYPTO:BTC) could see big swings depending on the outcome of the U.S. Presidential election in November 2024. 

If former President Donald Trump wins, the firm believes Bitcoin could climb to a new all-time high, potentially reaching between $80,000 and $90,000 by late 2024. 

On the other hand, a victory for Vice President Kamala Harris might push Bitcoin lower, possibly testing the $30,000 to $40,000 range. 

The report, put together by Bernstein's analysts Gautam Chhugani, Sanskar Chindalia, and Mahika Sapra, describes Bitcoin as a "Trump trade," suggesting that the digital asset could benefit under Trump’s policies. 

Trump’s recent remarks about the crypto industry—promising to remove SEC Chairman Gary Gensler and calling for the U.S. to become the "crypto capital"—have signaled a favorable stance that could encourage investment and growth in the sector. 

Meanwhile, a Harris win could mean a different story for Bitcoin. 

Even though the Democratic campaign has shown some openness to digital assets lately, Bernstein's team expects that a Harris administration would likely take a more cautious regulatory approach. 

“We expect the delta between the two political outcomes to be wide,” they noted, pointing to a sharp divide in Bitcoin’s potential future based on who takes office. 

Trump’s shift from being a Bitcoin sceptic to a supporter could resonate with crypto investors, especially given his criticism of the current administration's regulatory stance, which he claims hinders innovation. 

Harris’s campaign, for its part, is making some moves to connect with the crypto community, including accepting crypto donations through Coinbase's Commerce platform. 

However, to gain traction among crypto enthusiasts, more engagement may be needed. 

At the time of writing, the Bitcoin (BTC) price was $56,601.23.

Arizona Lithium (ASX: AZL) has commenced drilling on Well #3 at Pad #1 of its Prairie Lithium Project in Saskatchewan, Canada.

Previously, Well #2 was drilled into the Dawson Bay Formation and converted into a disposal well.

The results from this well are currently being analysed and will be shared upon completion.

The drilling of Well #3 aims to establish further exploration data.

According to the company's recent pre-feasibility study, having production, disposal, and brackish water source wells is essential for Arizona Lithium's commercial operations.

The completion of these three wells on Pad #1 will provide the required infrastructure to advance towards commercial lithium extraction.

"We are excited to announce that we have started drilling the 3rd well on Pad #1. Having the first 3 wells in place on Pad #1 allows us to finalise facility design, look to facility construction in H1 2025 and production of Lithium brines shortly thereafter," said Paul Lloyd, Managing Director of Arizona Lithium. 

The Prairie Lithium Project holds a significant lithium resource and is strategically located with access to essential infrastructure, supporting Arizona Lithium's sustainable development goals.

Arizona Lithium is a company engaged in the development of its Big Sandy Lithium Project in Arizona and Lordsburg Lithium Project in New Mexico.

At the time of reporting, Arizona Lithium's share price was $0.145.

Recent data points to a potential buying opportunity for Pepe (CRYPTO:PEPE), the popular frog-themed meme coin on Ethereum (CRYPTO:ETH), which has seen a 42% drop in value over the past 90 days. 

However, a recent surge in trading volume and key technical indicators suggest a possible bullish reversal could be on the horizon. 

PEPE's trading volume jumped by 48% today, signaling renewed market interest. 

Despite this increase, many short-term holders remain at a loss. 

The Market Value to Realized Value (MVRV) ratio for PEPE currently stands at 1.34, according to IntoTheBlock. 

This ratio helps identify market tops and bottoms by comparing the total value of holdings to the value invested. 

A lower MVRV ratio generally indicates that investors are holding at a loss and are less likely to sell, hinting that PEPE may have reached a market bottom. 

The Money Flow Index (MFI), another key indicator that measures buying and selling pressure, also suggests a bullish reversal. 

On September 7, the MFI for PEPE dropped to 17.25, indicating oversold conditions. 

As of now, the MFI has slightly increased, potentially pointing to a shift in market sentiment and an upcoming price rally. 

PEPE’s price, currently around $0.0000070, is positioned in a demand zone that previously triggered a rise to $0.0000087 in early August. 

Analysts suggest that breaking through the resistance level at $0.0000075 could pave the way for a climb to $0.000010, representing a potential 53% gain from its current price. 

However, failure to clear this resistance could lead to a retracement back to $0.0000066. 

While the outlook appears optimistic, traders should remain cautious. 

If PEPE fails to break past critical resistance levels, the forecasted rally might not materialize, and further declines could follow. 

At the time of writing, the Pepe (PEPE) price was $0.057322.

The FBI's Internet Crime Complaint Center has released a report showing that Americans lost a staggering $5.6 billion to cryptocurrency scams in 2023, a 45% increase from the previous year. 

Although crypto-related complaints accounted for only 10% of all those received, they made up nearly half of the total financial losses. 

The report reveals that older Americans were the hardest hit, with those over 60 losing around $1.6 billion. 

Investment scams were the most common, comprising 71% of reported cases, followed by call center fraud and government impersonation scams, which accounted for about 10%. 

"There is one thing these scammers typically will not do—they will not meet with you in real life," the FBI warned, advising caution with investment offers from people you have never met. 

The agency also pointed to the rise of labor trafficking scams, where victims are tricked into working abroad in exploitative conditions, often in call centers running “pig butchering” schemes. 

These operations use foreign labor to execute complex scams and sometimes confiscate workers' passports or demand repayment for fabricated expenses. 

Cryptocurrency ATMs are also emerging as a major source of fraud, with the FBI logging 5,500 cases involving these kiosks that led to losses exceeding $189 million. 

Scammers favor crypto ATMs for their anonymity, exploiting them for schemes like extortion, romance scams, and impersonating government officials. 

James Barnacle, Deputy Assistant Director of the FBI's Criminal Investigative Division, highlighted the difficulty of recovering funds lost through these methods. 

"The chances of recovering money lost through a crypto kiosk are slim," he told ABC News. 

Barnacle added that many victims are unaware they have been scammed. 

"Of the 3,000 people we’ve notified this year, 75% had no idea they were victims of fraud," he said.

Zenith Minerals (ASX:ZNC) has discovered new pegmatite occurrences and progress in preparatory work for upcoming drilling activities at their Split Rocks Lithium Project in Western Australia.

The observations were made in historical drill samples approximately 360 metres east of the existing Rio JORC inferred lithium resource.

During recent site reconnaissance at Split Rocks, Zenith identified pegmatite material, previously logged as quartz veins.

The findings will enhance the known occurrences of the Dolphin Pegmatite.

Zenith is currently engaged in ground reconnaissance and sampling operations to prepare for gold and lithium reverse circulation drilling.

"We are thrilled by the identification of these pegmatites, which expands the potential footprint of known lithium mineralisation in the Split Rocks area," said Andrew Smith, Managing Director of Zenith Minerals.

The company has received Program of Work approval for the drilling campaigns at the Dulcie Far North Gold prospect and the Split Rocks Lithium project.

Heritage surveys in the area are set to commence shortly, while rock chip and soil sampling activities continue at the site.

Chris Shanley, exploration manager at Zenith, highlighted the strategic importance of these findings. "These observations are of particular interest as they indicate that either the Dolphin Pegmatite is shallower than previously modelled or signify the presence of stacked, sub-horizontal pegmatites in the hanging wall of the current model."

The company remains focused on advancing its dual strategy of gold exploration and lithium asset development.

With more than 80 lithium targets identified at Split Rocks, Zenith is well-positioned to maximise the value of its extensive portfolio.

At the time of reporting, Zenith Minerals’ share price was $0.036.

Tether (CRYPTO:USDT), known for its stablecoin USDT, has announced a $100 million investment in Adecoagro, a South American agricultural company.  

This marks Tether's first foray into the agriculture and food sector, shifting its investment focus from technology and digital assets to agriculture.  

The company has acquired a 9.8% stake in Adecoagro, which amounts to over 10 million shares.  

This move utilises funds from Tether’s revenue and represents a significant strategic change for the firm, which has previously focused on areas like artificial intelligence, peer-to-peer platforms, and digital education.  

Adecoagro, founded in 2002 and headquartered in Buenos Aires, Argentina, is a notable player in Latin American agriculture. 

The company is recognised for its extensive milk production, processing more than 500,000 liters per day.  

Paolo Ardoino, CEO of Tether Holdings, recently discussed the company’s broader strategic goals on Bloomberg TV’s “Bloomberg Markets.”  

Ardoino emphasised the importance of a balanced regulatory environment for the cryptocurrency industry.  

“We need to find a middle ground that allows for innovation while providing necessary protections,” he said.  

In addition to this investment, Tether has introduced a new product, Allow by Tether, which is designed to create tethered assets linked to reference commodities through over-collateralisation.  

The platform’s first token is a synthetic dollar backed by gold, aimed at providing a more stable alternative to Bitcoin.  

Tether’s USDT remains a significant stablecoin with a market capitalisation exceeding $118 billion, reflecting its continued role in the cryptocurrency market.

At the time of writing, the Tether (USDT) price was $1.00.

Compass Mining has energized 3,000 Bitcoin (CRYPTO:BTC) mining machines at its newly partnered hosting facility in Iowa.  

The company has also announced plans to install an additional 1,000 machines by the end of September, further boosting the facility’s capacity by 12.5 megawatts (MW).  

This development is part of Compass Mining’s broader strategy to expand its operations across the United States.  

By the end of 2024, the company aims to manage approximately 30 MW of power at various locations, including sites in Indiana, Ohio, Nebraska, and Texas.  

The expansion reflects the company’s commitment to scaling its infrastructure and supporting its clients' needs.  

Paul Gosker, CEO of Compass Mining, highlighted the importance of providing customers with diverse location options.  

“By offering more location choices, we are enabling our clients to make informed decisions based on factors like curtailment risks and power market dynamics. We’re excited to deploy additional machines at reliable sites to help our clients achieve their hashrate goals,” he stated.  

The Iowa facility now supports 1,600 clients, who have the option to deploy their machines at the new “Iowa 3” site.  

This move aligns with Compass Mining’s strategy to broaden its presence across different regions.  

This expansion comes amid a challenging period for Bitcoin miners, who are facing reduced revenue compared to earlier in the year.  

Despite a lower hashprice—measuring daily output per 1 petahash per second (PH/s)—the network’s hashrate has reached new highs, approaching 700 exahashes per second (EH/s), indicating ongoing industry growth and resilience.

At the time of writing, the Bitcoin (BTC) price was $56,888.11.

On Monday, a long-dormant Bitcoin (CRYPTO:BTC) wallet suddenly became active, transferring 146.43 BTC worth just over $8 million.

This marked the first transaction from the wallet since November 20, 2013.

The movement occurred as Bitcoin began to recover from a recent dip to $52,546.

This transaction, noted as the largest dormant BTC movement in September so far, was tracked by btcparser.com.

The 146.43 BTC, originally stored in a legacy Pay-to-Public-Key-Hash (P2PKH) address, was sent to another wallet of the same type.

Based on Blockchair’s privacy tool, the transaction received a "low" privacy score of 45 out of 100 due to the address being swept and appearing multiple times in the transaction inputs.

Interestingly, before the larger transfer, another smaller movement of 10.27 BTC occurred from a wallet created on November 28, 2013.

This smaller transaction was confirmed in block 860,586, while the larger 146.43 BTC transfer was confirmed in block 860,607.

The 10.27 BTC wallet had gradually accumulated its balance, starting with a 1 BTC deposit back in 2013.

This transaction was also a sweep, with the same address used for both receiving and change, resulting in multiple inputs from the same address.

According to Blockchair’s privacy tool, the 10.27 BTC transaction received a privacy score of zero out of 100, suggesting poor privacy practices.

Given that both wallets were created in November 2013, it’s possible they belonged to the same owner.

However, the unusual way the smaller transfer was conducted raises the possibility of a different owner, with the shared creation date perhaps just a coincidence.

At the time of writing, the Bitcoin (BTC) price was $57,023.76.

Pantera Minerals (ASX:PFE) announced the signing of a master services agreement with Production Services for a workover rig at its Smackover Lithium Brine Project in Arkansas, USA.

The initial work is set to begin in mid-October with the re-entry of the first well slated for late October.

The re-entry of the well will allow for the collection of brine samples from the upper Smackover formation, aiming to determine lithium grades.

The data will be pivotal in updating the company's exploration target and in defining resources and optimal locations for future wells.

The well location has been strategically selected to facilitate both production and disposal operations, supporting plans for a pilot plant in 2025.

Executive Chairman Barnaby Egerton-Warburton commented on the significance of this milestone, "The company is extremely excited with the imminent testing of lithium brine grade at its Arkansas Smackover Lithium Brine Project. With the contracting of a work-over rig, we are now in the final stages of preparation for our first well."

The Smackover Formation is notable for its high-grade lithium brine, attracting interest from major players such as Exxon Mobil and Equinor.

Pantera's project covers over 26,000 net leased acres, emphasising its scale and strategic position within this burgeoning exploration area.

Pantera Minerals remains focused on growing its Smackover Project, planning additional exploration and leasing activities to advance resource definition and development.

Pantera Minerals is an iron ore, copper, gold, manganese, and base metal explorer with a portfolio of projects located across some of Western Australia’s greenstone belts and base-metal basins.

Firebird Metals (ASX:FRB) said its Chinese subsidiary, Hunan Firebird Battery Technologies, has secured the essential Environmental Permit for the Stage 1 development of its Battery Grade Manganese Sulphate Project in Jinshi, Hunan Province, China.

The environmental permit is the second of three critical permits necessary for the construction and operation of the plant.

The final Energy Permit is anticipated within weeks. Managing Director Peter Allen noted the quick progress, attributing it to the robust support from the Jinshi Government.

"We continue to execute steadfastly on our vision and set the platform for Firebird to become a near-term low-cost high-purity manganese sulphate producer," said Peter Allen, Managing Director of Firebird Metals.

As part of the permit process, Firebird entered into memorandums of understanding with four Chinese plants to supply its leach residue, a by-product of the high-purity manganese sulphate process, primarily for use in cement production.

The agreements highlight the environmental benefits and zero-waste objectives of Firebird's operations.

Construction of the plant is expected to commence immediately following the receipt of the final permit and a final investment decision in the late fourth quarter.

The project aims to begin operations in late 2025.

Firebird Metals is an advanced manganese developer focused on combining mining and downstream processing for the advancement of the electric vehicle battery sector. Its projects include the Oakover Manganese Project, Wandanya Project and Hill 616 Manganese Project.