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Peter Davis

An writer at FOMOdrive

  • Nov 30, 2023
  • 3 min read

Bitcoin again failed to break through the $38,400 barrier

BTC has dropped below $38,000, and whales are transferring it to trading platforms.

Standard Chartered has reaffirmed its prediction that the price of Bitcoin will reach $100,000.

The SEC has issued an invitation for public feedback on the proposed Bitcoin ETF.

Binance is set to delist its own stablecoin, BUSD.

Access to Binance will be blocked in the Philippines.

Bitcoin was unable to surpass the yearly peak of $38,400 and dropped back below $38,000.

Although QCP Capital has not ruled out a decrease to $36,000, it is unlikely that there will be a larger drop. CryptoQuant has reported that crypto whales are transferring bitcoins to exchange wallets, which could be seen as a bearish indication.

Standard Chartered has predicted that Bitcoin could reach $100,000 by the end of 2025, citing the halving and the potential approval of spot ETFs in the first quarter of 2024 as catalysts for the rally. This could open the door for institutional investment in Bitcoin and Ethereum.

Scott Johnson, a lawyer, viewed the US Securities and Exchange Commission (SEC) starting to gather public opinion on spot Bitcoin ETFs as a sign that the regulator is prepared to accept all applications for the instrument by January 10, 2024.

Billy Marcus, also known as Shibetoshi Nakamoto, the creator of the largest meme cryptocurrency, Dogecoin, has expressed his doubts about the structure of decentralized autonomous organizations (DAOs) and their long-term sustainability. The most well-known example of such an organization is the DAO on the Ethereum blockchain.

Glassnode has recorded the first decrease in Ethereum staking since Shanghai, resulting in a slowdown of emission. Simultaneously, due to the increased network activity, the rate of coin burning has increased, leading to deflation instead of inflation.

Justin Sun, the founder of the Tron blockchain, has refuted allegations that the network is being increasingly utilized by terrorist organizations. He has stated that decentralization is the primary focus of Tron.

Retail investors in Hong Kong now have the chance to trade cryptocurrencies, thanks to a partnership between Interactive Brokers, one of the biggest brokerage firms, and licensed exchange OSL.

On December 15, Binance, the world's largest crypto exchange, will cease to support its own stablecoin BUSD. This decision comes after a deal with the US authorities.

John Deaton, a lawyer for Ripple, has taken issue with the US authorities' accusations against Binance. He has stated that the US authorities have failed to provide any evidence of illegal use or misappropriation of client funds, unlike the case with FTX.

The Philippine regulator has announced that access to Binance will be blocked in the country, as the exchange is not registered and does not possess the necessary permits and licenses to operate.

Vivek Ramaswamy, a US presidential candidate, has promised that his policy will ensure a prosperous future for cryptocurrencies, granting Americans the freedom they deserve.

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