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Peter Davis

An writer at FOMOdrive

  • Jun 30, 2023
  • 3 min read

Bloomberg warns of Bitcoin correction

Bitcoin tech logo with gold BTC coins around

According to the CEO of Real Vision, it is now the time to invest in cryptocurrencies.

The Eight founder stated that $28,500 is an excellent price to purchase before a rally.

The co-founder of Gemini, Tyler Winklevoss, has revealed a new stage of Bitcoin accumulation.

A Bloomberg strategist has cautioned that Bitcoin may experience a significant drop in price in the near future.

Two new bills concerning the regulation of cryptocurrencies are set to be discussed by the US Congress.

Raul Pal, CEO of Real Vision, believes that now is the ideal time to invest in cryptocurrencies. He believes that the world's central banks will continue to print more money, and that crypto assets and technology stocks will be the biggest beneficiaries of this.

According to Michael van de Poppe, the founder of Eight, $28,500 is an excellent price point to buy before Bitcoin moves towards $40,000. He declared, "Welcome to a new bull cycle!" Van de Poppe pointed out that the BTC dominance index is nearing a significant resistance level, which should result in Bitcoin stabilizing and the market focusing more on altcoins.

The Securities and Exchange Commission (SEC) has received an application from Valkyrie Investments to launch an exchange-traded fund (ETF) based on the spot price of bitcoin. This follows similar applications from BlackRock, WisdomTree, Invesco, and Bitwise to launch a spot bitcoin ETF.

Cameron Winklevoss, co-founder of the Gemini crypto exchange, has declared a new stage of bitcoin accumulation. He stated, "Given the great number of ETF applications, now is the ideal time to purchase BTC before ETFs become available."

Mike McGlone, a strategist from Bloomberg Intelligence, has suggested that Bitcoin could become significantly cheaper in the short term. He pointed out that no application for a spot ETF on BTC has been approved by the US authorities yet. Furthermore, a recession may be on the horizon for the US, which could have a negative impact on risky assets, such as cryptocurrencies.

House Financial Services Committee Chairman Patrick McHenry announced that the U.S. Congress is set to discuss two new bills concerning the regulation of cryptocurrencies as soon as next month. One of the bills will classify cryptocurrencies as a commodity.

The French regulator has registered CACEIS Bank, a company that provides services for the assets of financial giants Crédit Agricole and Santander, as a custodian of cryptocurrencies.

Cryptoslam reports that the NFT market has seen a surge in trading volume, with an 11% increase over the week. Additionally, the number of people engaging in NFT transactions has skyrocketed to over 664 thousand, representing a 95% jump.

The Monetary Authority of Singapore (MAS) has granted Ripple a license to operate with digital tokens, allowing the company to extend the use of its platform for cross-border payments in the XRP cryptocurrency.

Developers of the Shiba Inu project have deployed the Shibarium ecosystem, which includes the Shibacals NFT-based digital authentication solution for physical items. This solution utilizes tags with NFC chips, allowing for communication and blockchain transactions.

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