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Peter Davis

An writer at FOMOdrive

  • Nov 29, 2023
  • 3 min read

Bitcoin is ready to reach new highs of the year above $38,400

The dollar is weakening, and Bitcoin is reaching its highest point of the year, surpassing $38,400.

The potential profitability of BTC has hit its highest point in two years.

The CEO of 10T Holdings predicted that Bitcoin will surpass $100,000 by the year 2025.

Changpeng Zhao was prohibited from exiting the United States by the court.

Singapore suggested that cryptocurrencies should eventually fade away.

The total supply of bitcoins has reached 83.7%, the highest figure since November 2021, according to Bitfinex. However, the amount of potential profits that have yet to be realized is still relatively small.

Arthur Hayes, the former head of BitMEX, has predicted that China will make a substantial investment in foreign markets, and that the combination of monetary expansion and a weakening US dollar could have a beneficial effect on the worth of many high-risk assets, including cryptocurrencies.

Dan Tapiero, CEO of 10T Holdings, believes that the next bull run for Bitcoin will occur in 2025, when it surpasses the $100,000 mark. He described this as a "pretty conservative estimate".

A US court has prohibited Changpeng Zhao, the former CEO of Binance, from going back to the United Arab Emirates until he is sentenced. He is allowed to stay in the United States until February 2024.

The US Securities and Exchange Commission (SEC) is reportedly continuing to investigate Binance management for potential loopholes that could allow them to control assets stored on the Binance.US platform. In response to this, Zhao has stepped down from the board of directors of Binance.US, according to The Wall-Street Journal.

Arthur Hayes, the former CEO of BitMEX, declared that the fines and prosecution of Binance's ex-chief executive are "unjustified" and demonstrate a prejudice against the revolutionary potential of cryptocurrencies and blockchain.

Charles Hoskinson, the founder of Cardano, has expressed his disapproval of the US SEC for not classifying Bitcoin as a security, which has given BTC "unrestricted freedom" in comparison to other digital currencies.

According to the Financial Stability Board (FSB) at the G20, the failure of cryptocurrency companies does not present a major risk to the actual economy.

Robert Kennedy Jr., a US presidential candidate, has expressed his opposition to Central Bank Digital Currencies (CBDCs), claiming they are a danger to people's financial autonomy. He believes that Bitcoin is a "refined answer" to the Central Bank's digital currencies.

The Monetary Authority of Singapore has stated that private cryptocurrencies have not passed the essential financial services tests and should eventually vanish.

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