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The United States economy and where it might be headed has been a hot topic of debate among finance experts, with some recommending Bitcoin as a safe haven. One of those who has continued to tout BTC as the answer is renowned finance author Robert Kiyosaki, who has made a gloomy prediction for the US economy.
In a post made on X (formerly Twitter), Robert Kiyosaki, who is widely known for his best-selling finance book titled ‘Rich Dad Poor Dad’, warned investors of an impending crash. According to Kiyosaki, a lot of investors would end up losing their money as they do not know what to do with it.
He compared the current situation to flight students in the US Navy being taught how to fly and also how to crash. However, it seems that there is no easy option for investors going forward, as he calls for a “bail out.”
The finance expert warns that banks as well as the US economy will crash, and “We are not going in for a soft landing.” In light of this, he steers investors toward other forms of wealth preservation, which are Gold, Silver, and Bitcoin.
As much as the finance author expects that the crash will be brutal, he believes that by being in the three assets mentioned above, then investors can have “parachutes for your personal soft landing.”
BTC bulls clear $47,000 resistance | Source: BTCUSD on Tradingview.com
Kiyosaki is not new to pushing Bitcoin as an alternative to traditional cash and investment vehicles. Over the last year, the finance expert has warned that the US economy is headed for doom and as always, pushes the likes of Gold, Silver, and Bitcoin as an answer to the ‘inevitable crash.’
The author has also provided incredibly bullish predictions for the BTC price going forward, which he expects to rise more than 300% from here. According to Kiyosaki, Bitcoin will rise as high as $150,000 post-Spot Bitcoin ETFs approval, and with the price inching toward $50,000 already, it seems Kiyosaki’s prediction may end up playing out.
Kiyosaki has also presented Bitcoin as a safe haven at a time when there is widespread political discontent. He has also publicly declared his dislike for the current President, Joe Biden, who he believes is weak and a terrible president.
In order to fight back, the finance author suggests that investors move their assets into Gold, Silver, and Bitcoin which cannot easily be controlled by the government. He also believes BTC is the “best protection” against hyperinflation, which he expects to happen soon.
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Charles Edwards, the founder of Capriole Investments, has recently provided an analysis in Capriole’s Update #13, predicting a significant upswing in the Bitcoin price to $58,000. His forecast is rooted in a detailed examination of market trends, ETF developments, technical patterns, and fundamental indicators.
The analysis begins with a detailed look at the market’s recent behavior, focusing on the aftermath of Bitcoin ETF launches. Edwards points out, “Two months of chop and ETF readings under the microscope appears to be resolving to the upside as of writing.”
He highlights the significant shift in momentum following the initial “sell the news” reaction to the ETF launches, noting a considerable decrease in outflows from the Grayscale Bitcoin ETF. This change, according to Edwards, aligns with his previous predictions.
Furthermore, Edwards highlights the massive success of Blackrock and Fidelity’s Bitcoin ETFs (IBIT and FBTC), which have collectively absorbed over $6 billion in assets in less than a month. This achievement not only underscores the ETFs’ historic launch success but also signals a broader acceptance of Bitcoin within the traditional finance sector.
“Bitcoin [is] the most successful ETF launch in history by a very wide margin,” Edwards notes, referencing data from Eric Balchunas to emphasize the unprecedented scale of Bitcoin’s entry into the ETF market.
Here’s a look at the Top 25 ETFs by assets after 1 month on the market (out of 5,535 total launches in 30yrs). $IBIT and $FBTC in league of own w/ over $3b each and they still have two days to go. $ARKB and $BITB also made list. pic.twitter.com/Yyi1nxukUk
— Eric Balchunas (@EricBalchunas) February 8, 2024
A major milestone in Bitcoin’s institutional adoption is Fidelity’s decision to include Bitcoin in its “All-in-One Conservative ETF.” Edwards considers this move a significant endorsement of Bitcoin’s value as an investment asset, stating, “Bitcoin is finally being acknowledged in traditional investment vehicles.”
He predicts that this could set a precedent, with most major ETFs likely to allocate between 1-5% to Bitcoin in the next 12-24 months, emphasizing the critical importance of this development for Bitcoin’s mainstream acceptance.
Turning to the technical analysis, Edwards points out the bullish trend that has taken shape, with Bitcoin breaking past the $44,000 resistance level. This breakout, according to Edwards, is a strong indicator of the market’s bullish sentiment and a precursor to further gains.
He notes, “The Weekly closing above $47K mid-range bound on Sunday would give a great technical confirmation of a new bullish trend,” highlighting the significance of this level as a determinant of the market’s direction.
Furthermore, Edwards elaborates on the low timeframe technicals, indicating a measured move towards the monthly resistance, which presents an attractive risk-to-reward (R:R) setup for investors. This technical breakout, combined with the strategic management of risk, underscores the potential for significant price appreciation in the near term.
A clean breakout on the daily timeframe of the $44K resistance is suggestive of a measured move to Monthly resistance. This is a good R:R setup. ‘Risk’ can be easily managed (a close back into the range at $44K would be a logic stop) with “Reward” 3-4X higher at $58-65K.
The foundation of Edwards’ bullish outlook is also built on a robust analysis of fundamentals and on-chain data. The Capriole’s Bitcoin Macro Index, which aggregates over 50 Bitcoin-related metrics into a single model, plays a crucial role in this analysis.
“The fundamental uptrend resumed on Wednesday which is also supportive of continuation of the technical move. We want to see on-chain fundamental growth continue with price to support confirmation of this mid-range breakout. Monday’s reading will be particularly important,” Edwards states.
Edwards’ analysis concludes on a bullish note, with a clear technical breakout and a transition of on-chain fundamentals into growth territory. “ETF FUD cleared. A Technical breakout on the daily timeframe and on-chain fundamentals transitioning into growth,” he summarizes, pointing towards a strong start to February and setting an optimistic tone for Bitcoin’s short-term future.
At press time, BTC traded at $46,790.
Featured image created with DALL·E, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
A prominent crypto analyst and Bitcoin enthusiast, Michael Van de Poppe, has shared insights on the future trajectory of several altcoins in the space. The crypto analyst’s predictions highlight crucial moments for investors as they watch out for opportune times to buy and sell cryptocurrencies in this dynamic market.
Following the approval of Spot Bitcoin ETFs, Bitcoin experienced a substantial surge, rallying to overcome the $45,000 price mark. During this bullish momentum, the prices of several altcoins, including Ethereum (ETH) and Solana (SOL), also witnessed significant increases.
In a recent X (formerly Twitter) post, Poppe revealed major altcoins to buy or sell in 2024. The crypto analyst shared a chart illustrating the historical price movements and corrections of Solana, Polygon (MATIC) and Chainlink (LINK).
Poppe revealed that Solana’s consolidation phase appears to have ended after it experienced a major decline from its 2023 peak of over $123 to $95.81 at the time of writing. His analysis suggests that Solana is poised for a higher time frame support test at $80 and is anticipated to surge to new highs, potentially reaching $140.
Subsequently, the crypto analyst presented a historical performance chart of MATIC, the native token of Polygon. Noting that the cryptocurrency has maintained higher time frame support levels with established liquidity, Poppe predicts an upcoming upward movement despite MATIC’s recent underperformance.
He forecasts that MATIC’s next rally could propel its price to a range between $1.25 and $1.50. As of now, the price of MATIC is trading at $0.789, reflecting a 2.39% decline in the past 24 hours, according to CoinMarketCap.
The Bitcoin enthusiast also anticipates a substantial price increase for Chainlink’s native token, LINK. The crypto analyst revealed that the cryptocurrency has consistently held crucial price levels and is positioned for an upward momentum towards $25. At the time of writing, the price of LINK stands at $14.65, representing a 0.12% increase in the last 24 hours.
In his X post, Poppe unveiled a roster of altcoins that has been struggling to surge and maintain crucial resistance levels. The crypto analyst pointed out that Ethereum’s recent slow growth has adversely impacted many altcoins, causing them to experience further declines.
He mentioned Synthetix (SNX), which is currently depreciating primarily due to Ethereum’s lagging performance. Additionally, there is Arbitrum (ARB) and Polkadot (DOT), which Poppe predicts would have a significant price increase in the future.
The Bitcoin enthusiast stated that if ARB can return to a price level of around $1.40 and $1.60, it could open up new entries into a more sustainable position. Subsequently, Poppe predicts a rise in the price of Polkadot to $15 despite its current price trading at $6.80.
The crypto analyst revealed that DOT is currently showcasing a “great weekly candle”, and its previous price corrections present a great opportunity for investors in the ongoing bull market.
Total market cap at $1.57 trillion | Source: Crypto Total Market Cap on Tradingview.com
Featured image from Busha, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Bitcoin, the largest cryptocurrency in the market, experienced a price recovery on Friday; however, industry experts anticipate a further test of sub-$30,000 levels in the near term.
The prolonged downtrend observed over the past fourteen days, coupled with mounting selling pressure, has raised concerns about the sustainability of the recent rebound.
Chris Burniske, co-founder of a New York-based venture crypto firm, highlights several factors contributing to the anticipated downward movement of Bitcoin.
Burniske suggests that the consolidation phase may extend longer than expected due to many variables, including crypto-market dynamics, macroeconomic conditions, adoption trends, and new product developments.
Burniske offers his outlook on Bitcoin, stating that a local bottom could be reached in the $30,000 to $36,000 range. However, he wouldn’t be surprised if the cryptocurrency tests the mid-to-high $20,000 before recovery occurs, leading to a renewed push toward previous all-time highs.
Burniske cautions that the path to such a recovery will likely be volatile, marked by potential fakeouts, and may span several months.
The market expert advises investors to exercise patience during this period of uncertainty. Burniske suggests that other cryptocurrencies may experience more significant percentage declines if his predictions hold Bitcoin. Burniske further stated:
Before you get mad with, “We’re just getting this cycle started, Chris!!!” Mostly agree, ~called the cycle bottom in Nov 2022 and continue to believe the long-term trend remains robust. Have also seen a lot of crypto volatility over the last decade+…. recently, I’ve specifically been discussing a local top and local low, not a cycle-wide top and low.
Crypto analyst Ali Martinez has provided insights into potential price movements for Bitcoin in its latest analysis conducted on the social media platform X (formerly Twitter).
Martinez’s assessment indicates that the TD Sequential indicator recently flashed a buy signal on the daily chart, coinciding with Bitcoin’s current position above the 100-day Simple Moving Average (SMA) at approximately the $40,000 level.
According to Martinez, if Bitcoin surpasses the $40,550 resistance level, it may trigger an upswing with a target price of $43,000. This bullish scenario implies a potential price rally for Bitcoin soon.
However, the analyst also highlights the importance of closely monitoring the 100SMA support level, as a breach of this level could have significant implications for the cryptocurrency’s price trajectory.
Martinez cautions that if the 100SMA support level is breached, it might result in Bitcoin experiencing a downward move toward the $33,300 level. This potential downside scenario indicates a critical support level that, if broken, could lead to increased selling pressure and a bearish sentiment in the market.
At the time of writing, BTC’s price has recovered 3.8% over the past 24 hours, resulting in a current trading price of $41,400.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
The ongoing saga of the Mt. Gox exchange casts a shadow over the Bitcoin community, even years after its dramatic collapse. Recent developments have stirred the pot again, with Mt. Gox reaching out to former users to confirm ownership of accounts linked to Bitcoin payments.
This move comes amid ongoing efforts to compensate creditors, primarily in Japanese yen, through their PayPal accounts. With the repayment process expected to continue this year, the crypto community remains on edge regarding the implications of releasing Mt. Gox’s substantial Bitcoin holdings, amounting to 142,000 BTC and 143,000 BCH, in addition to 69 billion yen.
Amid the swirling rumors and speculation, renowned Bitcoin advocate and CEO of Jan3, Samson Mow, has stepped forward to offer his perspective, seeking to alleviate concerns regarding the potential market impact of unlocking “Gox coins.”
Mow believes creditors’ long wait has cultivated resilience to prevent a sudden, mass sell-off of these assets. According to Mow, even if some creditors decide to sell, the market is well-equipped to “absorb” the impact without significant disruption.
Gox coins unlocking isn’t really a factor. Creditors having to force HODL for a decade aren’t likely to sell soon. What about buyers of claims? They may have sought fiat gains initially, but had a front row seat to #Bitcoin NgU and should now be thinking “sell for gains in what?”
— Samson Mow (@Excellion) January 24, 2024
This view was echoed in response to a user named Spoonman on X, who suggested that around half of the creditors might be inclined to sell. Mow confidently stated that such selling would not co-occur, reinforcing his belief that the market can handle the situation smoothly.
Even if some sell, they aren’t going to do it all at once. Market can absorb it all easily regardless.
— Samson Mow (@Excellion) January 24, 2024
Interestingly, the Bitcoin market has recently shown signs of recovery, defying some analysts’ expectations of a continued downturn. At present, Bitcoin is experiencing a 3% increase over the past 24 hours, with its trading price hovering above $40,000
However, it’s important to note that this uptick follows a significant decline, with Bitcoin down by 5.7% over the past week and over 10% in recent weeks.
This modest recovery contradicts the bearish forecast presented by Bitfinex in their latest Alpha Report, which anticipated further market downturns. Bitfinex analysts pointed out the vulnerability of Bitcoin’s price due to the reduced profitability of short-term holders.
According to the analyst, this group of investors’ potential reaction to the market conditions could lead to critical support levels being tested at around “$38,000 and $36,000,” as per the report.
However, contrary to prediction, Bitcoin has surged slightly far away from these highlighted support zones. For context, the asset currently trades for $40,037 at the time of writing.
Featured image from Unsplash, Chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
The crypto industry is now set for a strong bullish run in 2024, with most analysts predicting assets to reach new all-time highs. As a result, investors are always on the lookout hoping to jump on cryptocurrencies that offer the potential for substantial returns.
A recent social media post by a crypto analyst known pseudonymously as Emperor Osmo listed the best cryptocurrencies to get on in 2024 across various trends and market niches.
The analyst’s crypto recommendations for the year were based on an analysis by CryptoKoryo Research on the Dune Analytics platform. Each recommendation was placed into an investing risk curve depending on the sentiment of the general population of market participants.
Building the ultimate crypto portfolio for 2024 necessitates the selection of a mix of assets across the risk curves. Some more established blue chip cryptos provide stability and steady gains, while higher-risk assets have the potential for huge gains.
Recommendations on the left curve predominantly consisted of attention-grabbing cryptocurrencies. The cryptos included BONK, the first dog-themed coin on Solana, COQ, the first meme coin on Avalanche, CTXC, and PYR, the native token for Vulcan Forged, a blockchain game studio, and NFT marketplace.
These cryptos went on astounding price surges in the last quarter of the year and mostly thrived on hype among investors. According to CryptoKoryo, the five cryptocurrencies made an increase of 1,571% in the past three months. If the hype continues in 2024, we could see them reach new highs, particularly in the first quarter.
Here’s your portfolio guide to make it in 2024. 📊
** Left Curve**
– $BONK
– $COQ
– $CTXC
– $PYR** Mid Curve**
– $AVAX
– $BCB
– $STEAK
– $GNX
– $ILV
– $KUJI
– $METIS
– $MPL
– $ORAI
– $PYR
– $SOL** Right Curve**
– $INST
– $JOE
– $LINK
– $METIS
– $ORAI
– $SKL
– $SOL… pic.twitter.com/6ZsyjT4EuE— Emperor Osmo🧪 (@Flowslikeosmo) January 1, 2024
Total market cap at $1.7 trillion | Source: Crypto Total Market Cap on Tradingview.com
On the other hand, the mid-curve portfolio assets included less volatile layer-1 tokens, AI tokens, DeFi tokens, and layer-2 tokens. The 11 cryptocurrencies highlighted were AVAX, BCB, STEAK, GNX, ILV, KUJI, METIS, MPL, ORAI, PYR, and SOL, each going through a moderate price surge throughout 2023. According to CryptoKoryo, the five cryptocurrencies made an increase of 260% in the past three months.
Lastly, the right curve consisted of very stable assets with a higher potential for stable price growth in 2024. The cryptocurrencies highlighted were INST, JOE, LINK, METIS, ORAI, SKL, and SOL with a combined 253% performance in the past three months.
Source: X
While the recommendations on the left and middle curves are very volatile and have a higher chance of dumping, the right curve cryptocurrencies have created a proven track record over the years, and many analysts project continued price growth throughout 2024.
On the other hand, cryptocurrencies on the middle curve are a bit more volatile but still relatively safe as far as cryptos go, while those on the left curve have the highest volatility risk but could lead to massive returns if they take off.
Featured image from StormGain, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
A finance expert and Bitcoin maximalist has taken a major dig at XRP as he labeled the crypto token a “scam.” The expert outlined several reasons why he holds this opinion, although he seemed misguided in some.
In a post shared on his X (formerly Twitter) platform, finance expert Rajat Soni mentioned XRP not being decentralized as one of the reasons he believes the crypto token is a scam. He seemed to suggest that Ripple Labs solely controlled the XRP Ledger as he noted that they developed the token.
However, this belief is false, considering that it has always been emphasized that Ripple does not control the XRP Ledger or even the XRP token. In fact, this was obvious when certain amendments were to be made to the network, and Ripple’s CTO noted that they could not be passed without the approval of the validators.
Another reason Soni mentioned was that Ripple controls a large portion of the tokens in circulation. He also went further to assert that the crypto firm could alter the token’s code and issue more XRP if it wanted. However, there is no basis for this assumption, as XRP has a maximum token supply of 100 billion. That hasn’t changed since the token was pre-mined.
The finance expert also went as far as suggesting that XRP is a scam because it has no utility outside the US. He stated that people around the world don’t care about the token and that they would use the crypto token if the US cracks down on it. It is worth mentioning that the majority of XRP transactions come from outside the US.
Token price recovers to $0.61 | Source: XRPUSD On Tradingview.com
As a Bitcoin maximalist, Soni seemed to be using his post to put XRP down and show why Bitcoin was superior. After he had had a go at the altcoins, he went on to compare the crypto token with Bitcoin, highlighting why the flagship crypto token is superior, in his opinion. He alluded to how Bitcoin’s supply isn’t concentrated and that the network was totally decentralized with a vast pool of miners.
Furthermore, he mentioned how people are using Bitcoin to trade regularly in “other countries because they have no other way to transact.” Bitcoin’s value is so immense that Soni believes that holders won’t part ways with their tokens even if Bitcoin is banned.
Interestingly, pro-XRP YouTuber Zach Rector recently made a case for XRP against Bitcoin. He believes that the former is the future of finance and not the flagship crypto token. One thing he alluded to was the increasing transaction fees on the Bitcoin network and how that was going to affect its utility. This is unlike XRP, which has a relatively cheaper average transaction fee.
Featured image from Crypto News, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Crypto expert Jason Appleton, better known as Crypto Crow in the crypto community, has provided an in-depth analysis of the Cardano (ADA) ecosystem. Based on his analysis, he predicts that the crypto token could hit unprecedented heights as he asserted his bullishness on ADA going into the bull market.
In a post shared on his X (formerly Twitter), Crypto Crow explained in an accompanying video why he believes ADA will rise to $32 in the bull market. According to him, this price level is attainable in the “most prime of conditions by the peak of this bull market cycle.” He also believes that the crypto token could be one of the most valuable altcoins in that period.
In the video that accompanied his post, Crypto Crow drew out a hypothetical scenario to drive home his point of ADA hitting $32. In his scenario, ADA could hit this price level if Bitcoin were to achieve a $10 trillion market cap, as he projects that this would put ADA’s own at $400 billion. Meanwhile, he believes that ADA’s dominance could rise to as high as 4% in that period.
For his more conservative prediction, he foresees ADA hitting at least $16 in the next bull cycle. Based on his hypothetical scenario, this would happen if Bitcoin were to hit a market cap of $5 trillion, as this would put ADA’s own market cap at $200 billion.
The crypto expert also referred to the charts to show why he is so bullish on ADA. He noted that ADA is already performing better based on historical patterns, as he alluded to 2017 in particular. In the relatively short term, Crypto Crow sees ADA hitting $10 by August 2024, as he highlighted the Bitcoin Halving as a major factor in this regard.
ADA trending at $0.63 | Source: ADAUSD On Tradingview.com
Dan Gambardello, the founder of Crypto Capital Venture, had previously highlighted how Cardano’s growing DeFi landscape important was. He noted that it would be one of the factors that would propel ADA’s price to significant heights in the next bull run. This is a real possibility, as Cardano has seen impressive growth in this regard.
Data from DeFiLlama shows that the Total Value Locked (TVL) on the network has been on a steady rise since the beginning of the year. It recently hit an all-time high (ATH) of $444 million. At the time of writing, the TVL on the network stands at just over $429 million.
Crypto analyst Psyclops also factored this into mind when he recently suggested that ADA could rise to as high as $10. He highlighted the fact the network undoubtedly has more utility than when the last bull run occurred. One of these use cases, which he alluded to, is the “massive DeFi” that Cardano now has.
Featured image from The Daily Hodl, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
A crypto expert has explained why a Bitcoin pullback (possibly to around $40,000) isn’t a bad thing. This comes as there is a growing concern that the flagship cryptocurrency could soon lose all the gains it has achieved in recent times.
In a post on his X (formerly Twitter) platform, William Clemente, the co-founder of Reflexivity Research, suggested this correction was necessary as it would “shake out “weak hands” and leverage, allowing for a stronger foundation for eventual moves higher.” He further mentioned that Bitcoin’s volatility “is a feature, not a bug.”
He made this statement in relation to his assertion that the crypto token has doubled in two months with no pullbacks. Although it hasn’t exactly doubled, Bitcoin has, however, experienced a significant surge these past few months. This has come on the back of the possibility of the Securities and Exchange Commission (SEC) approving the pending Spot BTC ETF applications.
This impressive rally has indeed happened, with the flagship cryptocurrency hardly experiencing any pullback. The bulls have firmly remained in control, with the bears having to bear the brunt of this as many continue to experience heart-wrenching liquidations. However, just like with every other asset, a correction is always expected at some point, and that could be now.
BTC price recovers above $42,000 | Source: BTCUSD On Tradingview.com
Bitcoin is already facing a retracement as more longs than shorts have liquidated in the last 24 hours, according to data from Coinglass. In an earlier X post, Clemente had warned that there would “be sharp corrections along the way as the market shakes off greedy leveraged longs.”
Meanwhile, the reason for the breather from Bitcoin could also be a result of those waiting on the sidelines to see the outcome of the macroeconomic events happening this week. This includes the CPI inflation data that is set to be released on December 12, which will be closely followed by the FOMC meeting happening on that same day and December 13.
Many will be hoping that the outcome of those events is rather positive as that would further ignite the bullish sentiment that is currently reverberating throughout the crypto community. Irrespective of what happens, this sentiment isn’t expected to dwindle as many still have their sights set on January when a Spot Bitcoin ETF could be approved.
Liquidity is also flowing into the ecosystem, with digital asset investment products experiencing their 11th straight week of inflows at $43 million. Bitcoin remains the major focus of these investors, with the flagship crypto token seeing $20 million in inflows.
At the time of writing, Bitcoin is trading at around $42,000, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Navi, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
