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Peter Davis

An writer at FOMOdrive

  • Jun 19, 2023
  • 2 min read

Bitcoin is able to rise to $45,000 - Eight

In the last two years, the correlation between gold and Bitcoin has reached its peak.

The quarterly report caused shares of the Coinbase exchange to skyrocket by 18%.

MicroStrategy has unveiled a new rewards program powered by the Lightning Network.

The developers of Cardano have declared the successful implementation of the Hydra layer 2 solution on the mainnet.

The White House is establishing global guidelines for Distributed Ledger Technologies (DLT).

Sentiment analysis has revealed that the relationship between Bitcoin and the S&P 500 index has significantly weakened in recent weeks. When the Federal Reserve raised interest rates, Bitcoin barely moved while stocks dropped. Simultaneously, the correlation between gold and Bitcoin prices has reached its highest level in the past two years in the midst of the banking crisis.

Michael van de Poppe of Eight founder believes that Bitcoin must remain above $28,900 for it to continue its upward trajectory. He believes that BTC can reach $40,000 and even $45,000 before a correction occurs and the market resumes its growth.

A strategy for national standards in eight technology sectors has been released by the US administration, with the expectation that DLT technologies will be widely adopted in key economic areas.

Cash App, the popular investment app created by Block, saw a remarkable rise in bitcoin sales in the first quarter, with sales surpassing $2 billion.

Stripe, a financial infrastructure provider for online businesses, has unveiled Onramp Stripe, a platform that facilitates the purchase of cryptocurrencies with fiat currency for US customers and Web3 companies. This new service is designed to make it easier for users to acquire digital assets.

The Coinbase exchange reported a net loss of $78.9 million, or $0.34 per share, in the first quarter, which was much better than the anticipated -$0.87. This news caused the exchange's shares to surge 18.3% on Friday. Brian Armstrong, Coinbase's CEO, stated that the exchange has no intention of leaving the US.

The Cardano team has declared the successful initiation of Hydra, their second layer solution, on the main network. This will enable Cardano to reach its maximum potential for throughput. The goal of this initiative is to make the network more scalable, allowing for faster and more affordable transactions.

MicroStrategy has unveiled Lightning Rewards, a bonus program service that pays out rewards in Satoshi (one 100 millionth of BTC) for various activities. This service is integrated with most corporate applications and is powered by the Lightning Network.

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