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Peter Davis

An writer at FOMOdrive

  • Oct 26, 2023
  • 2 min read

Galaxy Digital gave Bitcoin price forecast a year after the launch of the ETF

It appears that Bitcoin is gearing up to make another attempt at reaching the $35,000 mark.

Arthur Hayes viewed BTC as having potential during "times of conflict".

A period of turbulence has begun for Bitcoin.

The court was requested by Binance to dismiss the lawsuit filed by the CFTC.

It appears that speculators are overestimating the demand for new Bitcoin ETFs.

Arthur Hayes, the ex-CEO of BitMEX, predicted that Bitcoin and gold will experience a surge in value if US government bonds fail to provide security to investors during a "wartime" situation. He believes that this is due to the real fears of global inflation that would arise from such a conflict.

Bitfinex has predicted that Bitcoin may experience both a rise and a fall in the midst of its current period of turbulence. Alt Tab Capital has forecasted that this rally will continue until April 2024.

It is predicted by Galaxy Digital that, one year after the introduction of spot Bitcoin ETFs, the total amount of money invested into these funds will be $14.4 billion. This is expected to cause a 74% rise in the BTC rate, bringing it up to $59,000.

Binance exchange has requested the court to reject the lawsuit filed by the US Commodity Futures Trading Commission (CFTC). In its statement, Binance argued that the CFTC was exceeding its authority and responsibilities. "Congress has not appointed the CFTC as the global law enforcement agency for derivatives," Binance declared.

If passed, a new bipartisan bill in the US Senate would necessitate all regulated crypto exchanges to submit monthly PoR reports to the US Treasury.

Peter Schiff, a well-known crypto-skeptic and gold investment advocate, has expressed his doubts about the approval of spot Bitcoin ETFs. He believes that speculators are overestimating the demand for this new investment product, and that it is unlikely that anyone will purchase shares of a Bitcoin ETF, especially since the price of BTC has been so heavily inflated due to expectations.

CoinDesk reports that payment behemoth Mastercard is exploring potential partnerships with cryptocurrency wallets Ledger and Metamask. The introduction of a payment card could help crypto wallet providers boost their active user base.

The Maestro telegram cryptobot, the largest one used for trading cryptocurrencies, was hacked by hackers, resulting in a damage of 280 Ethereum ($500,000).

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