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New poll reveals this political event swayed only a fraction of Harris-Trump supporters

Only a handful of voters say that last week’s presidential debate caused them to reconsider their support for either Vice President Kamala Harris or former President Donald Trump, according to a new national poll.

A slew of political pundits and media analysts said that Harris bested Trump in the debate – their first and potentially only face-to-face encounter ahead of Election Day on Nov. 5.

However, only 3% of debate watchers said the showdown in Philadelphia caused them to reconsider whom they may support as president, according to a Monmouth University national poll released on Tuesday.

Just more than seven in 10 respondents said that the debate between the Democratic and Republican Party presidential nominees did not raise any doubts about the candidate they were already supporting in the White House race. Eight percent of those surveyed said some doubts were raised but that the debate did not change their minds on their support. Additionally, 17% offered that they did not see or hear any part of the debate.

‘How much this election is shifting is measured in inches rather than yards right now,’ Monmouth University Polling Institute director Patrick Murray said.

‘We are basically at the point where turning out 10,000 extra voters in a key swing state could determine the outcome. Polling tells us the broad contours of the race, but it cannot measure these types of micro-shifts,’ Murray emphasized.

Trump, in social media posts and in a couple of Fox News Channel interviews following the debate, said that he won the showdown with Harris.

‘That was my best Debate, EVER,’ he wrote in a social media post.

During a ‘Fox and Friends’ interview, he argued that ‘we had a great night, we won the debate.’

However, Harris, in her first rally last week after the debate, charged that Trump’s performance ‘was the same old show, that same tired playbook that we’ve heard for years… with no plans for how he would address the needs of the American people because, you know, it’s all about him, it’s not about you.’

According to the Monmouth poll, 49% of registered voters nationwide said they would either definitely (39%) or probably (10%) vote for Harris. In a separate question, just over four in 10 said they would definitely (34%) or probably (10%) cast a ballot for Trump.

Nearly every national poll conducted after last week’s debate indicates Harris with a lower to mid-single digital advantage over Trump in the race to succeed President Biden in the White House. 

However, it remains a margin-of-error race in the seven key battleground states that will likely determine the outcome of the 2024 presidential election.

Pointing to those surveyed who said they are extremely motivated to vote, Murray spotlighted that ‘Trump right now is doing better with motivated voters than he is with the overall electorate. This includes a good number of voters who may have sat out the 2020 contest. Perhaps they were exhausted by the Trump era when they stayed home four years ago, but that feeling has faded, and now they are more upset with the Biden presidency.’

‘To counter that, Democrats will be trying to light a fire under voters who already have concerns about Trump but aren’t fully engaged in the election,’ he added.

The Monmouth University poll was conducted Sept. 11-15, with 803 registered voters nationwide questioned. The survey’s overall sampling error is plus or minus 3.9 percentage points.

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Feds open probe into RFK Jr for allegedly decapitating a dead whale

The National Oceanic and Atmospheric Administration (NOAA) opened an investigation into former Independent presidential candidate Robert F. Kennedy Jr. for allegedly decapitating a dead whale 20 years ago, Fox News Digital confirmed.

The controversy arose in August after Kennedy’s daughter, Kick Kennedy, shared in a resurfaced 2012 Town and Country interview that her father once beheaded a washed up whale with a chainsaw. According to an interview with the outlet, he reportedly attached the whale’s head to his car and drove it to New York. 

However, Kick Kennedy described the event as just an average day for her family.

‘Every time we accelerated on the highway, whale juice would pour into the windows of the car, and it was the rankest thing on the planet,’ she told the outlet. ‘We all had plastic bags over our heads with mouth holes cut out, and people on the highway were giving us the finger, but that was just normal day-to-day stuff for us.’

When asked about the incident, the agency told Fox News Digital on Tuesday that it is ‘long-standing NOAA practice not to comment on open investigations.’

Kennedy made the initial assertion that he was under federal investigation for the decades-old incident during a campaign event for former President Donald Trump on Saturday.

The former presidential candidate-turned-Trump ally told rally goers that the investigation was a ‘weaponization of our government against political opponents.’

The Center for Biological Diversity Action Fund called on the NOAA to investigate the events described by Kennedy’s daughter just days after he suspended his presidential bid to join forces with Trump in August.

The group, which endorsed Vice President Kamala Harris for president in 2024, claimed that Kennedy violated the Marine Mammal Protection Act and the Endangered Species Act, as whales remain protected under those laws.

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Tulsi Gabbard says she would be ‘honored’ to join a potential Trump administration

Tulsi Gabbard, the former Democratic congresswoman from Hawaii, told Fox News Digital Monday that she would ‘be honored to serve’ in a potential Trump administration.

If tapped, Gabbard expressed her desire to work in a position where she can make the greatest impact, particularly in areas related to foreign policy or national security. Gabbard is an active-duty military veteran who completed two tours in the Middle East, and currently serves as a lieutenant colonel in the U.S. Army Reserves. 

‘I feel I can make the most impact in these areas of national security and foreign policy, and work to bring about the changes that President Trump talks about,’ Gabbard said Monday evening from a campaign fundraising event in Atlanta, Georgia. Gabbard added that bringing an end ‘to the influence of the military industrial complex,’ working to prevent World War III and bringing the U.S. back ‘from the brink of nuclear war’ would be among her priorities. War should be a ‘last resort,’ Gabbard said. She has also supported former President Trump’s plans to end the war in Ukraine.

Gabbard spent time as the vice chair of the Democratic National Committee between 2013 and 2016, and previously supported candidates like Sen. Bernie Sanders, I-Vt, and President Biden. However, blaming a shift within her former party that she has not agreed with, Gabbard became increasingly friendly with the GOP before leaving the party and eventually joining Trump’s transition team last month. 

‘There are a lot of people who I meet in a lot of different places every day who are former Democrats, or people who are leaving the Democratic Party,’ Gabbard said Monday. ‘People who recognize the same things that I have and experienced the same things that I have and realize that the Democratic Party of today doesn’t stand for them, doesn’t stand for freedom, it doesn’t stand for civil liberties… doesn’t stand for peace.’  

The former Democratic congresswoman has been outspoken against what a Harris administration could do to peace around the world and, on Monday, she slammed Democrats – including Vice President Kamala Harris – for what she described as their refusal to engage in diplomacy with U.S. adversaries. 

‘President Trump did in his last administration what President Obama refused to do, what President Biden refused to do, what Kamala Harris has made clear she refuses to do – which is to go out and do that tough work that a president and commander in chief has to do in diplomacy,’ Gabbard said. ‘Not just hanging out with your friends, and your allies, and your partners, but actually going out and talking to your adversaries.’

Gabbard argued that peace will remain elusive until the leaders in the White House are willing to do this sort of diplomacy. She also slammed Harris for escalating the war in Ukraine and being ‘flippant’ about the chances of a nuclear disaster.

‘The longer this war goes on and the more that Kamala Harris and Joe Biden and the neocons of Washington continue to escalate this war, the greater risk we are of a potential nuclear war, World War III,’ Gabbard said on Monday. ‘It is unconscionable and unacceptable that Kamala Harris and others who are continuing to escalate [the war in Ukraine] are so flippant about the reality of nuclear war.’

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Top Russian official lands in Iran amid US, UK concerns over alleged nuclear deal

Top Russian security official Sergei Shoigu landed in Iran on Tuesday for talks with his counterpart just one day after reports surfaced suggesting the U.S. and the U.K. are increasingly concerned over an alleged nuclear deal between Tehran and Moscow. 

Details of Shoigu’s meeting in Iran remain scarce, but U.S. officials have increasingly begun sounding the alarm that the burgeoning relationship between Iran and Russia amid the war in Ukraine may have reached concerning new levels. 

Secretary of State Antony Blinken first referenced these concerns last week during a visit to the U.K., where he confirmed reports that Iran had supplied Russia with short-range ballistic missiles to aid its continued war effort against Kyiv. 

But in comments that largely fell under the radar given the confirmation that ballistic missiles had been given to Moscow, Blinken also said, ‘Russia is sharing technology that Iran seeks – this is a two-way street – including on nuclear issues as well as some space information.’

A report by The Guardian on Monday suggested that President Biden and U.K. Prime Minister Kier Starmer allegedly discussed the potential of a secret deal having been forged in which Russia has agreed to provide Iran with the technological know-how it needs to develop a nuclear weapon. 

Nuclear experts, including the U.N.’s own watchdog, the International Atomic Energy Agency (IAEA), have warned that Tehran has continued to develop its nuclear program unchecked for the last three and half years.

Iran is said to have increased its stockpiles of highly enriched uranium to levels of 60% purity – just shy of weapons-grade uranium, which is achieved with 90% purity levels.  

While information surrounding Shoigu’s meeting Tuesday remains unknown, his trip came just days after he traveled to fellow nuclear-armed nation, North Korea, and met with leader Kim Jong Un in Pyongyang.

Details of that trip also remain murky, but reports suggested Shoigu’s trip was an opportunity to deepen the Russia-North Korea partnership following the signing of a mutual defense treaty in June earlier this year.

Western nations have accused North Korea of supplying Russia with arms to aid its war effort in Ukraine, and concerns have mounted that Pyongyang could escalate its military deliverables to Moscow. 

The U.S. and its Western allies have pledged to hold nations accountable for aiding Russia in its illegal war in Ukraine, but Shoigu’s trips with the top adversarial nations coincided with threats leveled by Putin at Washington last week.

Neither the U.S. nor the U.K. have lifted their strike bans on Ukrainian supplied long-range weapons in order to permit Kyiv to strike deep into Russia – a move it argues is critical for ending the war with Moscow. 

But Putin last week said any move by the U.S. and its NATO allies to reverse these strike bans will be seen as its direct involvement in the conflict and would mean they are ‘at war’ with Russia – possibly extending the threat of a Russian strike outside of Ukraine. 

Putin has made these threats against the West before, though no strike ban reversals were announced during the top meetings last week between Biden and Starmer. 

Reuters contributed to this report. 

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Biden admin moves to reinstate Trump-era rule, delist gray wolves from endangered species list

The Biden administration is moving to reinstate a Trump-era rule that lifted endangered species protections on gray wolves in the U.S.

Wolves were delisted from the Endangered Species Act (ESA) under President Trump in 2020, returning management of gray wolf populations to state and tribal wildlife professionals, according to a press release from the Department of Interior.

However, a federal judge reversed Trump’s decision in 2022 after environmental groups sued the Department of the Interior over the delisting, reinstating protection for the species.

Gray wolves are currently protected under the ESA as ‘threatened’ in Minnesota and ‘endangered’ in the remaining states, except for those in the Northern Rocky Mountain region, according to U.S. Fish and Wildlife Services. However, a new filing by the Biden administration suggests that the Trump-era ruling should be reinstated.

Attorneys with the Justice Department filed a motion with the 9th U.S. District Court of Appeals on Friday to reverse the court’s decision on the Trump-era delisting and lift ESA protections on gray wolves.

The filing with the U.S. Court of Appeals in San Francisco claimed that the court was wrong in overturning the Trump-era ruling on the species. 

‘The district court misunderstood the ESA’s clear mandate and compounded that error by imposing its own views of the science,’ court documents read. ‘Its decision invalidating the rule should be reversed.’

The Biden administration claimed in its 87-page filing that gray wolves no longer meet ESA standards of protection in that they are no longer considered ‘endangered’ or ‘threatened.’

Court documents referenced the 2020 ruling from Trump’s Department of Interior Fish and Wildlife Service that delisted the wolf species.

‘After that thorough analysis, the Service concluded that no configuration of gray wolves was threatened or endangered in all or a significant portion of its range. That analysis was well-reasoned and well-supported by the administrative record,’ the brief reads.

The move comes just months after a group of 20 House Republicans sent a letter to U.S. Fish and Wildlife Service (FWS) Director Martha Williams, urging the Biden administration to remove protections for the gray wolf, citing sometimes life-threatening conflicts with ranchers and farmers.

In February, FWS rejected requests from conservation groups to restore protection for gray wolves across the Northern Rocky Mountain region. 

Most recently, a bipartisan group of House lawmakers passed legislation in April to end federal protection for gray wolves and remove them from the endangered species list. 

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Harris tells NABJ she expects to ‘earn’ the Black vote this November

Vice President Harris spoke to the National Association of Black Journalists (NABJ) in Philadelphia on Tuesday, about a month after former President Trump spoke to the same group and made waves when he questioned Harris’ race.

The event marks Harris’ first solo interview with the national media. It was held at NPR’s Philadelphia station, WHYY, and was moderated by three Black journalists, including Eugene Daniels of Politico Playbook, WHYY’s Tonya Mosely and TheGrio’s Gerren Keith Gaynor. The stop marked Harris’ 13th visit to the Keystone State this year.

During his July interview with the NABJ in Chicago, Trump drummed up a firestorm of criticism when he said, ‘I didn’t know she was Black until a number of years ago, when she happened to turn Black, and now she wants to be known as Black. So, I don’t know. Is she Indian or Black?’

Harris was not asked to respond to those remarks from Trump on Tuesday, but she did slam the former president for what the moderators described as racially charged rhetoric about Haitian migrants in a small Ohio town eating people’s pets.

‘It’s harmful, and it’s hateful and grounded in some age-old stuff that we should not have the tolerance for,’ Harris said of the rumors being circulated by Trump. ‘We’ve got to say that you cannot be entrusted with standing behind the seal of the president of the United States of America, engaging in that hateful rhetoric that, as usual, is designed to divide us as a country.’

When asked by one of the moderators if this case of ‘irredeemable racism’ deserved some sort of federal response to help the community heal, Harris sidestepped the question.

Meanwhile, Harris also sidestepped whether she would sign or veto a bill establishing a federal committee to study reparations for the Black community. Harris said she ‘thinks’ a federal reparations commission will be taken up by Congress and, therefore, she won’t need to use her power as president to study the matter at the federal level.

Harris also spoke about the Black vote on Tuesday and took a far different approach than President Biden did in 2020. 

‘If you have a problem figuring out whether you’re for me or Trump, then you ain’t Black,’ Biden said while campaigning for the presidency in 2020. Harris, however, said Tuesday that she expects to have to ‘earn’ the Black vote, particularly Black men. ‘I think it’s very important to not operate from the assumption that Black men are in anybody’s pocket.’

Beyond race-focused topics, the interview included remarks from Harris about her economic plan, abortion, support for Israel – which she said has the right to defend itself – and gun control.

‘The United Sates of America absolutely has a role’ in aiding Israel’s right to self-determination, Harris said during Tuesday’s interview. 

On gun control, Harris was resolute that she and her running mate, Democrat Minnesota Gov. Tim Walz, are both gun owners – something that came as news to voters during last week’s presidential debate. ‘We’re not trying to take anybody’s guns away from them, but we do need an assault weapons ban,’ she said. Previously, as a presidential candidate in 2019, Harris said she thought a mandatory gun buyback program run by the federal government was ‘a good idea.’ However, Harris’ campaign has said she no longer supports such a program.

Harris added that she does support universal background checks for those seeking to legally obtain a firearm. When one of the moderators pointed out that most handguns are purchased illegally, Harris pointed to the need to eradicate ‘gun show loophole[s].’

‘We need to address each entry point in the issue,’ Harris insisted.

Later, the moderators turned to the second assassination attempt made on Trump’s life over the weekend. Harris indicated that she spoke to Trump after the close call to check on him.

‘I am in this election, in this race, for many reasons, including to fight for our democracy. And in a democracy, there is no place for political violence,’ Harris said. ‘We can and should have healthy debates and discussion and disagreements but not resort to violence to resolve those issues.’

Harris was asked a follow-up question about her confidence in the Secret Service to protect her, with Harris responding in the affirmative.

‘Not everybody has Secret Service. And there are far too many people in our country right now who are not feeling safe,’ she said. ‘I mean, I look at Project 2025, and I look at, you know, the Don’t Say Gay laws coming out of Florida. Members of the LGBTQ community don’t feel safe right now, immigrants or people with an immigrant background don’t feel safe right now. Women don’t feel safe right now. And so, yes, I feel safe. I have Secret Service protection, but that doesn’t change my perspective on the importance of fighting for the safety of everybody in our country.’

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House GOP braces for government funding chaos as Republican rebels mutiny before vote

Speaker Mike Johnson, R-La., is forging ahead with a vote on his plan to avert a government shutdown and force tighter U.S. election measures through Congress on Wednesday.

Johnson was forced to cancel a vote on the measure last week after it hemorrhaged GOP support for days after being unveiled.

Multiple sources who spoke with Fox News Digital on Tuesday said the House GOP leadership’s efforts to persuade Republican opponents of the bill were largely unsuccessful over the weekend.

At least a dozen Republican lawmakers are expected to vote against the bill. With just a four-seat majority and widespread Democrat opposition anticipated, expectations within the GOP are low.

‘I mean. It buys us a week of arguing over illegal immigrants,’ one House Republican told Fox News Digital via text message. Asked if it was worth the news cycle if it failed, they replied, ‘At this point… I suppose.’

Another GOP lawmaker said, ‘They’re basically at the point where they need to say they ran the play – call folks RINOs, let the Freedom Caucus folks say ‘shut it all down’ and then just wait for Senate to jam us.’

‘Didn’t have the votes last week and can’t imagine that changing this week,’ they said.

Johnson himself said in a statement, ‘Congress has an immediate obligation to do two things: responsibly fund the federal government, and ensure the security of our elections. Because we owe this to our constituents, we will move forward on Wednesday with a vote on the 6-month CR with the SAVE Act attached.’

The speaker does, however, have a wide cross-section of support from within the conference. 

House Freedom Caucus policy chair Rep. Chip Roy, R-Texas, led the Safeguarding American Voter Eligibility (SAVE) Act, which is being attached to the spending bill. 

He wrote on X on Tuesday that ‘some Republican nihilists would rather set up the failure they then get to complain about’ than pass an imperfect bill with conservative policies.

Meanwhile, Rep. Andy Barr, R-Ky., a top leadership ally, told Fox Business host Maria Bartiromo, ‘I support Speaker Johnson. He’s absolutely right, and the American people are with us on this.’

Congress is faced with a Sept. 30 deadline to fund the government for fiscal 2025 or see a partial government shutdown weeks before Election Day. The House has passed less than half of the 12 required appropriations bills while the Senate has not passed any.

Both Democrats and Republicans agree that a short-term extension of this year’s funding, known as a continuing resolution (CR), is needed to give negotiators more time.

But the SAVE Act, which would impose a proof of citizenship requirement on the voter registration process, has been called a nonstarter in the Democrat-controlled Senate and White House. President Biden has already threatened to veto Johnson’s plan.

Meanwhile, national security hawks and senior lawmakers within the GOP have called for a shorter CR through December, citing potential strains on military readiness if funding levels are consistent through March.

Another issue for House GOP leaders is that a large swath of Republicans, including the bill’s opponents, are against CRs on principle, arguing they are an extension of bloated federal spending levels.

Others have expressed frustration at being made to vote on a ‘messaging’ bill that would not pass the Democrat-controlled Senate.

‘Speaker Johnson is fake fighting by attaching a bright shiny object (that he will later abandon) to a bill that continues our path of destructive spending. I won’t be any part of this insulting charade,’ Rep. Thomas Massie, R-Ky., wrote on X.

Rep. Marjorie Taylor Greene, R-Ga., wrote, ‘The only way to make the SAVE Act a law would be to refuse to pass a CR until the Senate agrees to pass the SAVE Act and Biden agrees to sign it into law.’

‘This would force a Gov shutdown on Oct 1… Johnson will NOT commit to standing up against the Democrats in a shutdown fight and will allow passage of a clean CR in order to fund the government because he believes a gov shutdown will be blamed on Republicans and will hurt their elections.’

Making matters more difficult for Johnson is former President Trump, with whom he met  over the weekend after an assassination attempt on the ex-president.

Trump has publicly endorsed the SAVE Act on his Truth Social platform but urged congressional Republicans to push for a government shutdown if they did not get ‘absolute assurances on election security.’

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New House Freedom Caucus chair reveals GOP rebel group’s next ‘big fight’

: New House Freedom Caucus Chairman Andy Harris, R-Md., wants to focus on two key issues for the remainder of this year – government funding and next year’s House GOP Conference rules. 

‘I’ve been on the Freedom Caucus, really, since, since the beginning,’ Harris told Fox News Digital on Tuesday night, in his first interview since being elected chair of the ultra-conservative group.

‘I’ve watched, you know, all our chairs do a great job pushing the conservative agenda with Congress, and with the American people. And right now our big fight is going to be on controlling spending. It’s going to be on what the rules look like for the next Congress.’

Harris promised, ‘I’m going to roll up my sleeves and battle those two issues.’

The Maryland Republican, who was first elected in 2010, was chosen to lead the Freedom Caucus for the remainder of the year after Rep. Bob Good, R-Va., vacated the role following his June primary loss to another Republican.

Harris has not been known to be particularly chatty with reporters on Capitol Hill, making him an understandable successor for a group that keeps even its membership list undisclosed.

The Freedom Caucus has also long been seen as a thorn in the side of House GOP leaders, pushing them to go further in pushing conservative policies through Congress.

Harris, however, praised Speaker Mike Johnson’s leadership on government funding ahead of a Wednesday vote on a Freedom Caucus-backed plan to avoid a government shutdown.

The plan is a six-month extension of this year’s federal funds known as a continuing resolution (CR), to give lawmakers more time to hash out fiscal year 2025’s priorities, paired with a measure requiring proof of citizenship in the voter registration process.

‘The leadership he’s shown on this issue is excellent,’ Harris said. ‘I think if we had had this discussion one month ago and someone suggested that Speaker Johnson was going to bring a six-month CR to the floor, and, oh, by the way, we add the [Safeguarding American Voter Eligibility (SAVE) Act] into it – most people wouldn’t believe it.’

But the Democrat-controlled Senate and White House have called the legislation a nonstarter.

Harris would not say how conservatives could force Johnson to stick by the plan, even as several Republicans have publicly opposed the measure over concerns the speaker would not fight for the SAVE Act if it was rejected by the Senate. 

‘If it fails, we’ll cross that bridge when we come to it,’ he said.

Harris did, however, urge those GOP critics to take a ‘second look’ at the bill ahead of Wednesday’s vote.

‘I hope they take a second look before tomorrow and realize that the important signal would send to the American people,’ Harris said. ‘I’d love to hear the argument Chuck Schumer is going to make to say, ‘Yeah, you know, we’re going to reject that because we want illegal aliens to vote.’’

The Maryland Republican similarly would not go into detail about what changes he would want to see to the House GOP Conference rules – though the issue is expected to take center stage in the end-of-year leadership elections.

Ex-Speaker Kevin McCarthy, R-Calif., agreed to changing certain conference rules to win over his critics after House Republicans won the majority in the 2022 midterm elections.

That notably included lowering the threshold for triggering a vote on the speaker’s ouster – called the motion to vacate the chair – from a simple majority to just one vote.

‘I hope that in its wisdom, that the Republican majority next year – because I believe there will be a Republican majority – not only adopts and endorses all those changes we made this term, but maybe make some further changes. Those will be discussed more obviously in the next two months.’

When pressed for details, Harris noted there were other members of the group besides himself.

‘That’s going to be up to what the Freedom Caucus says,’ Harris said. ‘I’m the chairman, but I’m not all the members.’

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Entitlement Offer Booklet

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to share its Entitlement Offer Booklet.

For a pro rata non-renounceable Rights Issue to Eligible Shareholders on the basis of one (1) New Share for every four (4) existing Shares held by Eligible Shareholders on the Record Date at an issue price of $0.105 per New Share to raise approximately $13,300,015 (before costs) (Offer).

ELIGIBLE SHAREHOLDERS MAY ALSO APPLY FOR SHORTFALL SHARES IN ADDITION TO THEIR ENTITLEMENT.

The Offer opens on Wednesday, 18 September 2024 and closes at 5:00pm (WST) on Thursday, 3 October 2024 (unless it is lawfully extended). Valid acceptances must be received before that time.

Applications for New Shares by Eligible Shareholders can only be made by using or following the instructions on an Entitlement and Acceptance Form, as sent with this Offer Document. The Entitlement and Acceptance Form sets out the Eligible Shareholders’ Entitlement to participate in the Offer.

Please read the instructions in this Offer Document and on the accompanying Entitlement and Acceptance Form.

This document is not a prospectus and does not contain all of the information that an investor may require in order to make an informed investment decision regarding the New Shares offered by this Offer Document.

The New Shares offered by this Offer Document should be considered as speculative.

Click here for the full ASX Release

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Is Now a Good Time to Buy Bitcoin? (Updated 2024)

Bitcoin is prone to price volatility, with wide swings to the upside and downside. The most recent downturn comes alongside market turmoil triggered by weak jobs data and fears of a looming recession.

Bitcoin’s value has rallied over the last few quarters, increasing from about US$26,000 in mid-September 2023 to an all-time high of around US$73,000 in mid-March of 2024. There have been several notable events in the Bitcoin space in that time, including the much-anticipated launch of the first US spot Bitcoin exchange-traded funds (ETFs) in January and the fourth Bitcoin halving event that occurred on April 19. Bitcoin’s value dropped to US$39,500 in January after the ETF launch but soared through February and early March to its new high.

Since the Bitcoin halving, the price has fluctuated within a wide margin, ranging from US$55,000 to US$71,000. On May 20 and June 5, the price briefly came within range of its previous high, reflective of the cryptocurrency market’s volatility.

It has seen intermittent highs and lows since in response to economic cues such as unchanging US interest rates, persisting inflationary pressures and geopolitical events. However, its high and low points since its March peak have both shown a downward trend.

Buying Bitcoin isn’t a simple decision. Before you decide if Bitcoin is a good investment for you, you need to understand both Bitcoin and the wider crypto market. Read on to learn the basics.

What gives Bitcoin its value?

Bitcoin was the world’s first cryptocurrency, created in January 2009 by the mysterious Satoshi Nakamoto.

Conceived as a virtual alternative to fiat currency, Bitcoin is built atop blockchain technology, which it uses for both validation and security. Blockchain itself is a distributed digital ledger of transactions, operating through a combination of private keys, public keys and network consensus.

The best analogy to explain how this works in practice involves Google Docs. Imagine a document that’s shared with a group of collaborators. Everyone has access to the same document, and each collaborator can see the edits other collaborators have made. If anyone makes an edit that the other collaborators don’t approve of, they can roll it back.

Going back to Bitcoin, the virtual currency primarily validates transactions through proof of work. Also known as Bitcoin mining, this competitive and incredibly resource-intensive process is the means by which new Bitcoins are generated.

How it works is deceptively simple. Each Bitcoin transaction adds a new ‘block’ to the ledger, identified by a 64-digit encrypted hexadecimal number known as a hash. Each block uses the block immediately preceding it to generate its hash, creating a ledger that theoretically cannot be tampered with. Bitcoin miners collectively attempt to guess the encrypted hex code for each new block — whoever correctly identifies the hash then validates the transaction and receives a small amount of Bitcoins as a reward.

From an investment perspective, Bitcoin toes the line between being a medium of exchange and a speculative digital asset. It also lacks any central governing body to regulate its distribution. As one might expect, these factors together make Bitcoin quite volatile, and therefore somewhat risky as an investment target.

As for the source of this volatility, Bitcoin’s value is primarily influenced by five factors.

1. Supply and demand

It’s widely known that no more than 21 million Bitcoins can be produced, and that’s unlikely to happen before 2140.

Only a certain number of Bitcoins are released each year, and this rate is reduced every four years by halving the reward for Bitcoin mining. The last of these ‘halvings’ occurred in April 2024 and the next one is due sometime in 2028. When it happens, there may be a significant increase in Bitcoin demand, largely driven by media coverage and investor interest.

Bitcoin demand is also strengthening in countries experiencing currency devaluation and high inflation.

It would be remiss not to mention that Bitcoin represents an ideal mechanism for supporting illicit activities — meaning that increasing cybercrime could itself be a demand driver.

2. Production costs

It’s said that Bitcoin benefits from minimal production costs. This isn’t exactly true, however. Solving even a single hash requires immense processing power, and it’s believed that crypto mining collectively uses more electricity than some small countries. It’s also believed that miners were largely responsible for the chip shortage experienced throughout the pandemic due to buying and burning out vast quantities of graphics cards.

These costs together have only a minimal influence on Bitcoin’s overall value. The complexity of Bitcoin’s hashing algorithms and the fact that they can vary wildly in complexity are far more impactful.

3. Competition

Bitcoin’s cryptocurrency market share has sharply declined over the years. In 2017, it maintained a market share of over 80 percent. Bitcoin’s current market share is just over 56 percent.

Despite that fall, Bitcoin remains the dominant force in the cryptocurrency market and is the marker by which many other cryptocurrencies determine their value. However, there is no guarantee that this will always remain the case. There are now scores of Bitcoin alternatives, known collectively as altcoins.

The most significant of these is Ethereum. Currently accounting for roughly 14 percent of the crypto market, Ethereum has maintained its position as the second largest cryptocurrency. Some experts have suggested that Ethereum may even overtake Bitcoin, but others don’t see that as a possibility in the near future.

4. Regulations

Bitcoin may itself be unregulated, but it is not immune to the effects of government legislation. For instance, China’s 2021 ban of the cryptocurrency caused a sharp price drop, though it quickly rallied in the following months. The European Union has also attempted to ban Bitcoin in the past, and Nic Carter, a partner at Castle Venture, accused the US of trying to do the same in February 2023. A ban in either region could be devastating for Bitcoin’s overall value.

However, the US made progress in establishing crypto legislation in 2024 when the House passed the Financial Innovation and Technology for the 21st Century (FIT21) Act in a bipartisan 279 to 136 vote on May 22.

5. Public interest and media coverage

As with any speculative commodity, Bitcoin is greatly influenced by the court of public opinion.

Perhaps the best example of this occurred in 2021. At that time, a tweet from Tesla’s (NASDAQ:TSLA) Elon Musk caused Bitcoin’s price to drop by 30 percent in a single day. This also wiped about US$365 billion off the cryptocurrency market.

A more recent example occurred on January 9, leading up to the deadline for eight spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC). In a since-deleted post on X, formerly known as Twitter, a hacker falsely stated that the SEC had approved all eight pending Bitcoin ETFs. This caused the price of Bitcoin to spike to US$48,000, but it quickly dropped back down to around US$46,000 after the SEC confirmed it was a hack, leading some analysts to consider it a ‘sell-the-news’ event.

Is it a good time to buy Bitcoin?

Bitcoin is notoriously volatile, making it difficult to judge where the crypto is going next, but taking a look at recent drivers and past trends can help investors make that decision.

Recent geopolitical and economic events alongside a substantial payout to creditors of the failed Bitcoin exchange Mt. Gox have fueled market uncertainty, with intermittent periods of high and low price volatility serving as a clear signal of shifting investor sentiment. Amidst market turmoil triggered by weak jobs data and a Yen carry trade unwinding at the beginning of August, Bitcoin briefly dropped below US$50,000.

Despite signs of recovery, the impact is still being felt in the crypto market, and Bitcoin has lost 5.6 percent of its value in the last 30 days. In a research note, Ryan Lee, chief analyst at Bitget Research, warned that bullish price action the week ending on August 9 “cannot support a full market reversal or recovery.”

“Crypto prices will likely be rangebound with a bias to the weak side,” Augustine Fan, head of insights at SOFA.org, told CoinDesk on August 11. At the same time, crypto miners have been facing declining hash prices since the halving, while the hash rate reached an all-time high, contributing to the considerable volatility observed in August.

Co-founder of Blockspace Media Charlie Spears told The Defiant on August 12 that Bitcoin’s tumble to US$50,000 following the August 5 rout combined with the added mining difficulty “felt like a bottom.”

Glassnode data explained that sellers have been outperforming buyers since March 14, when Bitcoin reached its highest valuation of US$73,737.94. The cumulative volume delta, a metric that assesses the balance between buying and selling pressure, indicated a negative balance, suggesting more selling than buying activity.

Furthermore, Bitcoin fell below the 50-day simple moving average (SMA) on August 3 after the July employment report sparked fears of an impending recession and triggered a sell-off in riskier assets. On August 11, Bitcoin’s price crossed below the 200-day SMA, forming a “death cross,” an analysis pattern that suggests a decline may be the start of a longer-term downward trend. Similar patterns were observed during the FTX crash and in September 2023, and both were followed by periods of price discovery.

Bitcoin’s price didn’t move above the 50-day SMA until August 23, when it jumped 5 percent to US$64,183 after the Fed gave the green light to begin lowering interest rates in September. Historically, favorable markets have tended to influence crypto prices positively, and investors were hopeful that the news would provide increased buying pressure, but so far that hasn’t been the case.

What could it mean for Bitcoin if prices continue to struggle? Let’s compare Bitcoin’s crash in late 2022, when it fell to US$17,000, to its recent decline. Per NASDAQ, Bitcoin’s turbulence can be traced back to a few factors.

First and foremost were the harsh economic conditions of 2022. To combat supply shortages and inflation, the US Federal Reserve hiked interest rates aggressively. The war in Ukraine introduced even further uncertainty. In response, most investors reined in discretionary spending and became less willing to speculate on risky or volatile assets.

The catastrophic failure of crypto exchange FTX also left a sour taste in the mouths of investors to the tune of a nearly US$1 billion loss. Already wary of Bitcoin, many took FTX’s failure as a sign that their initial instincts were correct.

That said, Bitcoin didn’t actually take that long to recover from its post-FTX crash — by mid-January 2023, it had already returned to its pre-crash price. In the time since, the cryptocurrency experienced one of its most promising periods since its inception — including a new high in March 2024. despite its price becoming stuck in August with little change observed heading into September.

However, it is important to remember that there’s no such thing as a guaranteed investment, especially when it comes to cryptocurrencies. On the one hand, there’s virtually no chance that Bitcoin will experience a crash to zero like Terra Luna. On the other hand, we also cannot take for granted that its value will continue to climb.

What is Bitcoin’s long-term price outlook?

For those considering Bitcoin as a long-term investment, it’s worth considering experts’ thoughts on Bitcoin in the future.

Veteran analyst Peter Brandt said in February that if Bitcoin could break past its previous high, the cryptocurrency could easily reach a new record of US$200,000 by September 2025. Only two weeks after the interview, Bitcoin surpassed the US$72,000 mark in the early hours of March 11.

Crypto industry specialists surveyed in early 2024 by UK fintech firm Finder shared somewhat more conservative estimates, although they are still quite promising and point to prices above US$100,000 in the near future. They believe that Bitcoin could rise to a value of roughly US$122,688 by 2025, and US$366,935 by 2030.

In March, ARK Invest CEO Cathie Wood gave an astronomical Bitcoin prediction when she said it could be worth over US$75 trillion by 2030.

Not everyone is so optimistic about Bitcoin’s prospects. Pav Hundal, lead market analyst at Swyftx, has expressed concerns about Bitcoin’s future in the context of continued geopolitical upheaval and economic uncertainty. Billionaire investor Warren Buffet, meanwhile, has not minced words regarding his opinion on Bitcoin and its future.

According to Buffet, Bitcoin is an unproductive asset with no unique value. He also feels that it doesn’t count as a true currency — in fact, he called it “rat poison.” Moreover, he believes that the crypto market as a whole will end badly.

Regardless of whether you believe Bitcoin’s proponents or naysayers, it’s clear that it has some incredibly prominent backers in both the investment world and the wider business landscape. Business analytics platform MicroStrategy (NASDAQ:MSTR) is by far the largest public company in the Bitcoin space, with 226,500 Bitcoin to its name as of August 8. The next three public companies with the largest Bitcoin holdings are Marathon Digital Holdings (NASDAQ:MARA) with 20,818 Bitcoin, Tesla with 9,720 Bitcoin and Hut 8 (NASDAQ: HUT) with 9,109 Bitcoin.

The US, China and the United Kingdom hold the top three spots for countries with the most Bitcoin with 207,189, 194,000, and 61,000 Bitcoin respectively at that time.

There are also plenty of individuals with large holdings, the most significant of which is believed to be Bitcoin’s creator, Satoshi Nakamoto. Other prominent names include Michael Saylor, Cameron and Tyler Winklevoss and Tim Draper.

How to smartly invest in Bitcoin?

Bitcoin seems to be recovering from recent upheaval. After climbing to nearly US$70,000 in late July, the Bitcoin price fell rapidly in early August to below US$50,000 on August 5. By August 8, it had already moved back above the US$59,000 mark, and moved close to US$65,000 in late August before settling just under the US$60,000 mark as of mid-September.

Global markets remain apprehensive ahead of the US Federal Reserve’s September meeting, when the first rate cut is expected to be initiated. Taking current market conditions into account, now could be a good time to invest in Bitcoin, so long as you remain cognizant of the risks.

But if you opt to jump into the market, what comes next?

What is the process for buying Bitcoin?

The good news is that investing in Bitcoin is actually quite simple. If you’re purchasing through a stockbroker, it’s a similar process to buying shares of a company. Otherwise, you may need to gather your personal information and bank account details. It’s recommended to secure your network with a VPN prior to performing any Bitcoin transactions.

The first step in purchasing Bitcoin is to join an exchange. Coinbase Global (NASDAQ:COIN) is one of the most popular, but there’s also Kraken and Bybit. If you’re an advanced trader outside the US, you might consider Bitfinex.

Once you’ve chosen an exchange, you’ll need a crypto wallet. Many first-time investors choose a software-based or ‘hot’ wallet either maintained by their chosen crypto exchange or operated by a service provider. While simpler to set up and more convenient overall, hot wallets tend to be less secure as they can be compromised by data breaches.

Another option is a ‘cold’ wallet — a specialized piece of hardware specifically designed to store cryptocurrency. It’s basically a purpose-built flash drive. If you plan to invest large amounts in crypto, a cold wallet is the better option.

Once you’ve acquired and configured your wallet, you may choose to connect either the wallet or your crypto exchange account to your bank account. This is not strictly necessary, and some seasoned investors don’t bother to do this.

Finally, with your wallet fully configured and your exchange account set up, it’s time to place your order.

Best practices for investing in Bitcoin

The most important thing to remember about Bitcoin is that it is a high-risk asset. Never invest money that you aren’t willing to lose. Treat Bitcoin as a means of slowly growing your existing wealth rather than an all-or-nothing gamble.

As with other investments, it’s important to hedge your portfolio. Alongside Bitcoin, you may want to consider investing in other cryptocurrencies like Ethereum, or perhaps an altcoin. You may also want to explore other blockchain-based investments, given that even the most stable cryptocurrencies tend to be fairly volatile.

It’s also key to ignore the hype surrounding cryptocurrencies. Recall how many people whipped themselves into a frenzy over non-fungible tokens in 2022. More than 95 percent of the NFTs created during that time are now worthless.

Make decisions based on your own market research and advice from trusted — and more importantly, certified — professionals. If you’re putting up investment capital based on an influencer’s tweets, you are playing with fire.

You should also start small. A good rule of thumb is not to dedicate more than 10 percent of your overall capital to cryptocurrency. Even that number could be high — again, it’s all about moderation.

Make sure to prioritize cybersecurity as well. Cryptocurrencies are an immensely popular target for cybercriminals. In addition to maintaining a cold wallet, make sure you practice proper security hygiene. That means using a VPN and a password manager while also exercising mindfulness in how you browse the web and what you download.

Finally, make an effort to understand what cryptocurrencies are and how they work. One of the reasons Sam Bankman-Fried was able to run FTX as long as he did was because many of his investors didn’t fully understand what they were putting their money into. Don’t let yourself be fooled by buzzwords or lofty promises about Web3 and the metaverse.

Do your research into the technology behind it all. That way, you’ll be far better equipped to recognize when something is a sound investment versus a bottomless money pit.

When should you buy and sell Bitcoin?

Generally speaking, Bitcoin’s price action is sentiment driven. To determine if it is a good time to invest in Bitcoin, you must pay attention to the market and listen to the experts. Given how dramatically Bitcoin’s value tends to fluctuate, traditional advice for other assets does not always apply.

What is indirect crypto investing?

Given Bitcoin’s volatility, it’s understandable that you might be leery of making a direct investment. The good news is that you don’t have to. You can indirectly invest into the crypto space through mutual funds, stocks and ETFs.

ETFs are a popular and flexible portfolio choice that allows investors to benefit from a sector’s performance without the need to directly own individual stocks or assets. They are an especially appealing option in the cryptocurrency market as the technical aspects of purchasing and holding these coins can be confusing and intimidating for the less technologically inclined.

Bitcoin futures ETFs provide exposure to the cryptocurrency’s price moves using Bitcoin futures contracts, which stipulate that two parties will exchange a specific amount of Bitcoins for a particular price on a predetermined date.

Conversely, spot Bitcoin ETFs aim to track the price of Bitcoin, and they do so by holding the asset. Spot Bitcoin ETFs have been offered to Canadians since 2021; for more details, check out 11 Canadian Cryptocurrency ETFs and 5 Biggest Blockchain ETFs. Spot Bitcoin ETFs began trading in the US on January 11, 2024.

Do a bit of research and touch base with your stockbroker or financial advisor before you go in this direction.

Investor takeaway

Bitcoin is a fascinating asset. Simultaneously a transactional tool and a speculative commodity, it’s attracted the attention of investors almost since it first hit the market. Unfortunately, it’s also incredibly volatile.

For that reason, while current market conditions are favorable for anyone considering buying Bitcoin, it is an asset you should purchase only at your own risk. Because while Bitcoin may have the potential for significant returns, you may also lose most of your investment. If that knowledge doesn’t bother you, then by all means, purchase away.

Otherwise, there are better — less volatile — options for your capital.

FAQs for buying Bitcoin

What is a realistic Bitcoin price prediction for 2025?

Reality and price predictions rarely match up as forecasters have no way of predicting major events like Russia’s war with Ukraine or the COVID-19 pandemic. On top of that, the further away the time period, the less realistic the prediction will be.

As such, there is a massive range for 2025 Bitcoin price forecasts. As of April 2024, forecasts for where the Bitcoin price might land in 2025 range from US$74,456.13 to US$270,929.12. We’ll have to wait a a couple of years to see which are correct.

What does Cathie Wood say about Bitcoin?

ARK Invest CEO Cathie Wood is extremely bullish on Bitcoin, telling Bloomberg in February 2023 that her firm believes the cryptocurrency could reach a value of US$1 million by 2030. A year later, Wood hiked her 2030 bitcoin price prediction astronomically to US$75 trillion.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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