Day: January 9, 2024

Jim Cramer switches stances, now says Bitcoin is topping out

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Financial commentator Jim Cramer’s evolving views on Bitcoin raise questions amid ETF approval, impacting investor decisions. Bitcoin’s recent surge faced skepticism from financial commentator Jim Cramer, known for his varied stance on the cryptocurrency. Cramer, who previously asserted the permanence of Bitcoin (BTC), now suggests it might be “topping out.” Despite Monday’s 8% gain, Cramer’s historical track record of inverse market movements, encapsulated in the ‘inverse Cramer’ sentiment, raises eyebrows. Cramer’s recent assertion that Bitcoin may be “topping out” aligns with his historical skepticism towards the cryptocurrency. Recently, his previous…

New York’s Crypto BitLicense Oversight by DFS Criticized by State Comptroller DiNapoli

The document accused the agency – still the only U.S. regulator with a comprehensive set of rules for doing crypto business – of falling short in several areas, including missing fingerprint information, unavailable background on applicants’ tax obligations, long lags between risk assessments on applicants and their eventual approvals, missing financial information and insufficient cybersecurity compliance from BitLicensees. Source

Cardano Drops 18% Despite 250% Surge In Development Activity

Cardano (ADA) closed out 2023 with a rollercoaster ride, soaring towards $0.70 before plummeting back to $0.52 by the new year. While this sharp correction was anticipated, concerns linger about an ongoing bearish sentiment despite room for growth. Recovery won’t be a walk in the park. Currently trading at $0.52, Cardano faces an uphill battle. However, glimmers of hope remain. Cardano (ADA): Resilient Support Amid Development Notably, ADA hasn’t breached the crucial support level of the 200-day EMA, suggesting an underlying bullish bias for the long-term trend that began in…

Bitcoin ETF Fever Drives Ethereum (ETH) to 32-Month Low Versus BTC

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Never before seen signal fired off for Bitcoin

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Crypto Banter reports for the first time ever that Bitcoin has had a golden cross on the weekly time frame alongside the potential approval of a spot ETF. In a video released on Jan. 9, YouTube channel Crypto Banter alleges that with less than 24 hours until the spot Bitcoin ETF decision, there is a lot of excitement in the market, with a $50,000 BTC on the horizon.  Referencing the technical charts, the analyst highlights the stochastic RSI on the Bitcoin (BTC) charts crossed up just after October, leading into September when…

Next Bitcoin halving just 15k blocks away 

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Only 15,000 blocks remain until the much-anticipated Bitcoin halving.  The halving is projected to occur on April 19, approximately 99 days away, marking a pivotal moment in the life cycle of the leading cryptocurrency. Historically, halving events have had significant impacts on the Bitcoin market. Previous trends show that Bitcoin will experience a major rally shortly after every halving. This is often due to increased public interest, speculative trading, and discussions about the future of cryptocurrencies.  Source: CoinGecko Analysts closely observe these periods, as past halvings have been followed by…

Global Mega Bank Standard Chartered Releases Bullish Forecast For Spot Bitcoin ETFs

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Standard Chartered Bank is the latest to give its predictions on the impact Spot Bitcoin ETFs could have on Bitcoin’s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025.  Bitcoin Could Hit $200,000 By End Of 2024 According to a report by Standard Chartered shared on the X (formerly Twitter) platform, BTC’s price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100…

Spot Bitcoin ETF issuers file new AP disclosures with SEC

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At least 17 updated filings related to spot Bitcoin ETFs have been submitted to the SEC in the last 24 hours, with experts reaffirming high approval odds.  A handful of spot Bitcoin ETF issuers filed amended S-1 and S-3 forms with the United States Securities and Commission (SEC) following a flurry of feedback between both parties as firms tighten up readiness for expected approval.  BlackRock, VanEck, Valkyrie, ARK 21Shares, Grayscale, and Invesco Galaxy had submitted updated filings at press time. Outstanding amendments are expected sometime during Jan. 9 ahead of…