logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Dec 19, 2023
  • 3 min read

Bitcoin falls below $43,000 again

On Tuesday, Bitcoin experienced a decline in value during the American trading session.

It is doubtful that Bitcoin will experience an immediate surge in popularity following the introduction of spot exchange-traded funds (ETFs) by Goldman Sachs.

A decision on two applications to launch ETFs on Ethereum has been postponed by the SEC until May.

The SEC received a concession from BlackRock, which resulted in the company revising its application for a Bitcoin ETF.

The number of Google searches for Solana have reached record levels of popularity.

Goldman Sachs is skeptical that Bitcoin will experience a surge in popularity right after the introduction of spot ETFs. They believe that large investments into BTC will increase gradually, and will be subject to seasonal fluctuations. This means that institutional investors will enter and exit the crypto market depending on the global market conditions.

Michael Saylor, the founder of MicroStrategy, has declared that Bitcoin has the potential to revolutionize investment strategies globally. He believes that if Bitcoin is a legitimate asset for institutional investors, it is not receiving the attention it deserves. Saylor went on to say that if Bitcoin does not become worthless, it will reach a value of $1 million.

A Sygnum survey revealed that a large majority (over 80%) of institutional investors believe that cryptocurrencies have a significant impact on the global financial sector and are quickly transforming the economic environment.

The US Securities and Exchange Commission (SEC) has postponed making a decision on two Ethereum ETF applications - the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF - until May of 2024.

In response to the SEC's concerns, BlackRock has amended its application for a Bitcoin ETF, introducing a mechanism for redeeming shares for fiat currency. This redemption model is seen as more secure for investors than redeeming in Bitcoin, and is thus more likely to be approved by the SEC.

The Northern District Court of Illinois has given the green light to a settlement between Binance and the Commodity Futures Trading Commission (CFTC). Binance will pay the CFTC a hefty sum of $2.7 billion, while Changpeng Zhao, the former CEO of Binance, will pay $150 million. Zhao is still being investigated for his involvement in money laundering, and as a result, he is not allowed to leave the US. If found guilty, he could be facing a prison sentence of up to 18 months.

Circle, the issuer of the second-largest stablecoin USDC by market capitalization, has revealed plans to introduce a new stablecoin, EURC, which will be pegged to the euro and run on the Solana blockchain.

In the past two months, the Google search volume for Solana has seen an incredible 250% increase. This surge in user interest has been linked to the rapid growth of the asset and the increasing value of the memcoins associated with it. The Solana blockchain is continuing to expand quickly, with new protocols and airdrops being released.

An exploit in the Japanese game Aurory, built on the Solana blockchain, allowed an attacker to withdraw 600,000 AURY tokens, valued at approximately $684,000.

Share this article