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Peter Davis

An writer at FOMOdrive

  • Nov 08, 2023
  • 3 min read

Bitcoin: John Deaton predicted BTC's rise to $220,000

It appears that Bitcoin is poised to reach new heights this year.

Hodlers have amassed a record-breaking amount of BTC in preparation for the halving and the ETF.

Ethereum is beginning to surpass the original cryptocurrency.

Binance has unveiled the introduction of a Web3 wallet.

Despite Bitcoin's strong rebound since the start of the year, the supply of coins is still very limited due to hodlers. According to Glassnode, many metrics that measure "Bitcoin inactivity" have reached record highs.

John Deaton, a lawyer representing XRP holders in the SEC's lawsuit against Ripple, predicted that spot Bitcoin ETFs will be approved in the US by the end of 2023. He believes that if this happens, Bitcoin could reach $220,000 within 18 months.

According to YouTube analyst CredibleCrypto, a substantial rise in open interest (OI) in Bitcoin futures is creating the conditions for further growth in the value of digital gold.

In the last week, Ethereum has seen a surge in growth, surpassing the first cryptocurrency and regaining some of its market share, according to CoinShares. This increase in interest is likely due to the upcoming Cancun update, as well as the development of blockchain technologies and the Ethereum ecosystem.

The CFTC's fiscal year 2023 results have been revealed, showing that out of the 96 investigations conducted, 47 of them were related to digital assets.

The CFPB, a US government agency, will be providing oversight of large providers of digital wallets and cryptocurrency applications, similar to the way it monitors the financial industry.

If legislation to expand the Securities and Exchange Commission's (SEC) powers were to come before Congress, Senator Cynthia Lummis has stated that she would block it. Lummis has been investing in Bitcoin since 2021.

The public is now being asked to provide feedback on the European Banking Authority's (EBA) proposed capital and liquidity requirements for issuers of stablecoins and other digital tokens.

Bloomberg has reported that Circle Internet Financial, the issuer of the USDC stablecoin, is looking into the possibility of listing on a stock exchange as early as 2024.

HSBC, the UK's largest bank, has announced that in 2024 it will be providing institutional clients with a custodial service for storing tokenized securities, in partnership with Ripple-owned Metaco.

SEBA, a Swiss cryptocurrency bank, has been granted a license by the Hong Kong Securities and Futures Commission (SFC) that will enable it to offer services related to digital assets to people living in Hong Kong.

Beware: a malicious Xumm Wallet app has been spotted on the Google Chrome store, aiming to scam users of the open XRPL blockchain. This plugin has been designed to steal XRP coins.

Binance has unveiled a Web3 wallet that can be accessed through its mobile app. This wallet utilizes multiparty computing (MPC) technology, which divides private keys into three parts and stores them on separate servers.

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