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

  • Nov 19, 2023
  • 3 min read

Bloomberg: crypto market capitalization will grow sevenfold

After five weeks of increasing in value, Bitcoin's growth came to a halt.

Fidelity has submitted an application to create a spot Ethereum Exchange Traded Fund (ETF).

The SEC may reject the registration of an ETF due to Coinbase.

The Bank for International Settlements has expressed reservations about stablecoins.

The German government has proposed that Bitcoin be recognized as a legal form of payment.

Bitfinex believes that the Fed's transition to easing monetary policy will lead to a decrease in risk aversion among investors, resulting in an influx of capital into digital assets. This could coincide with the April 2024 halving, which has been known to cause significant price increases in the past.

YouHodler believes that the Federal Reserve's decision to not start easing policy until the second half of 2024 may keep pressure on risky assets, such as Bitcoin.

Bloomberg Intelligence predicts that the cryptocurrency market will continue to expand, with its capitalization potentially reaching anywhere from $8 trillion to $10 trillion in this bull cycle. Contrary to popular belief, the recent surge in cryptocurrencies is not only due to the anticipation of the launch of Bitcoin ETFs.

Fidelity Investments, a financial services company, has submitted a request to the US Securities and Exchange Commission (SEC) to register a spot exchange-traded fund (ETF) based on Ethereum. This follows the lead of their competitor, BlackRock.

BitGo predicts that the SEC will likely keep refusing to approve spot cryptocurrency ETFs, as the ETF applications list Coinbase as a partner for storing digital assets, without separating the trading services business from the custodial business.

The Andreessen Horowitz investment fund has warned that the United States is losing its leadership in the crypto industry. In 2021, 39% of all blockchain specialists were located in the US, but this figure has dropped to 29% in 2022.

A report from the Bank for International Settlements (BIS) has concluded that none of the 86 stablecoins studied could permanently maintain a dollar peg or be used as a form of payment in the real world.

Joana Cotard, a member of the Bundestag, has suggested that Bitcoin be made a legal form of payment in Germany. She is against the idea of a digital euro being created by the government.

Avara, the team behind the development of the DeFi platform Aave, has rebranded. This new parent organization will now be responsible for Aave, Lens, GHO stablecoin, Sonar and other related brands.

Share this article