Day: December 6, 2023

Bitcoin Pushes Into Extreme Greed, What You Should Expect From Here

boss

The Bitcoin positive sentiment has been rising rather rapidly in the last few months as the market has staged an incredible recovery. This saw the Bitcoin Fear & Greed Index go from deep fear to deep greed and that greed just continued to grow. Now, the sentiment is on the brink of extreme greed, which can be good in the short term, but could inherently turn bearish for the price. How The Fear & Greed Index Works The Bitcoin Fear & Greed Index uses a number scale of 1-100 to…

spot Bitcoin ETF seen as ultimate endorsement for institutional investors

boss

Cathie Wood believes the SEC’s decision on spot Bitcoin ETFs may significantly impact institutional crypto adoption. Wood views this imminent approval as a pivotal moment, suggesting that such approval could be the “final seal of approval” for institutions considering crypto investments. In collaboration with 21Shares, ARK Invest awaits a decision on their ARK 21Shares Bitcoin ETF (ARKB) proposal, with a ruling expected by Jan. 10. The SEC’s previous approval of Bitcoin futures ETFs in October 2021 was seen as a cautious yet progressive step despite concerns about counterparty risks compared…

Canadian crypto exchanges reach $1B in assets under management

boss

Bitbuy and Coinsquare, two of the largest crypto exchanges domiciled in Canada, have surpassed $1 billion CAD in assets ($736 million) under management. According to the Dec. 6 announcement by parent company WonderFi, the two entities currently hold $1 billion CAD in clients’ cash and digital asset deposits, up from $695 million ($512 million) the third quarter.  “During the month of November, the platforms experienced a combined 16% increase in monthly active users as compared to the monthly active user count in October. The platforms also recorded a 54% increase…

Here’s what chart analysts say about bitcoin’s path from here to $50,000

boss

After spending much of 2023 stuck near $30,000, bitcoin broke above $40,000 last weekend and has remained above that level for much of this week. Now the next stop could be close to $50,000. Bitcoin has been moving more quickly and persistently for several weeks, notching new 2023 highs more frequently. After beginning November at about $34,000, it’s kicked off December above $40,000 for the first time since April 2022 and is already up 16% for the month already. Chart analysts say the next level of resistance to watch is…

‘If I was the government, I’d close it down’ — Chase CEO on crypto

boss

JPMorgan Chase chair and CEO Jamie Dimon told several United States lawmakers that if he had the authority in government, he would try to shut down crypto. In a Dec. 6 hearing of the Senate Banking Committee on oversight of Wall Street Firms, Dimon responded to questioning from Massachusetts Senator Elizabeth Warren, who claimed North Korea had funded much of its missile program using “proceeds of crypto crime” in addition to funding Hamas. The JPMorgan Chase CEO said he had “always been deeply opposed to crypto” and associated digital assets…

Trading Guru John Bollinger Weighs In On BTC Ongoing Rally

boss

John Bollinger, known for his expertise in market analysis, has recently shared his insights on Bitcoin’s current market trajectory, noting that the premier cryptocurrency is exhibiting “signs of strength.” This observation comes when Bitcoin consistently sets new highs amid the ongoing bull run. The asset has experienced a surge, climbing above $44,000, representing a 4.5% increase over the past 24 hours. It now appears to be aiming for the next resistance level. Bitcoin Shows Signs Of Strength John Bollinger, the creator of the renowned Bollinger Bands, a popular technical analysis…

Bitcoin is up by 80% since Jim Cramer advised viewers to sell

boss

Bitcoin has nearly doubled since Jim Cramer advised users to sell on his television show, Mad Money. When Bitcoin hovered around $24,000 nine months ago, Cramer advised users to sell their holdings. Investors who heeded this advice missed an over 80% increase in value, underscoring the risks of relying on celebrity endorsements or opinions in financial decision-making. Many crypto enthusiasts, however, are well familiar with the reverse Cramer effect. It’s one of those comedic and sometimes accurate speculations in the crypto community that Bitcoin prices always trend opposite to Cramer’s…

Michael Jackson on the blockchain, Web3 gaming trends in 2024: Nifty Newsletter

In this week’s newsletter, read about how Michael Jackson’s first recording is coming to the blockchain and why the nonfungible token (NFT) lending protocol ParaSpace was rebranded to Parallel Finance. Check out how the Rarible ecosystem is furthering its commitment to royalty enforcement, and find out what executives working in the gaming industry think about the future of blockchain gaming in 2024.  Michael Jackson’s first-ever studio demo to be released on blockchain An NFT of a track titled “Big Boy (One-Derful Version),” by Michael Jackson, will hit the blockchain through…

Bitcoin’s return to ATH will be soon thanks to Bitcoin ETF

Senior analyst Vetle Lunde of K33 Research analyzes Bitcoin’s market trends ahead of the U.S. decision on the first spot Bitcoin ETF. Lunde’s report offers a detailed perspective on the crypto market and forecasts potential trends in the coming months. Lunde attributes the recent positive momentum in Bitcoin to the growing anticipation of the SEC’s decision, noting a significant rise since October, backed by strong institutional demand. He draws parallels with past events that have historically boosted Bitcoin’s value, such as the CME BTC futures launch in 2017, Coinbase’s IPO…