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Peter Davis

An writer at FOMOdrive

  • Jul 12, 2023
  • 3 min read

Robert Kiyosaki announced the imminent death of the dollar

Metall Bitcoin BTC coins with declining chart on back

According to Glassnode, the Bitcoin accumulation phase has been restarted.

Robert Kiyosaki cautioned about the potential demise of the U.S. dollar and encouraged people to invest in Bitcoin.

The ex-CEO of the SEC assessed the prospects of sanctioning a bitcoin ETF.

In the UK, 26 crypto ATMs that were operating illegally have been shut down.

The law on the introduction of the digital ruble was approved by the State Duma.

Glassnode notes that the market is currently going through a "reaccumulation" period, which is often seen when halving approaches. In the past, similar periods have caused sideways trading for a few months. The NVT Ratio (Network Value to Transactions Ratio) indicator, based on 28 DMA, suggests that the "fair value" of Bitcoin is $35,900, which is higher than it has been since November 2022.

Former SEC Chairman Jay Clayton stated that applicants for a spot Bitcoin ETF have a good chance of being approved if they can demonstrate that it is a more efficient and effective way for investors to purchase a digital asset. He cautioned, however, that the process would not be speedy, emphasizing the necessity of stringent regulation.

Lawyers from Grayscale heavily criticized the approval of a highly leveraged Bitcoin futures ETF in late June, which is much more dangerous than spot ETFs. Despite this, the regulator has not given the go-ahead for the launch of such funds for several years.

In June, the trading volumes of spot transactions on centralized exchanges rose by 10.4%, and the trading volumes of cryptocurrency futures increased by 9.5%.

Andrew Bailey, the head of the Bank of England, declared that bitcoin and other cryptocurrencies do not meet the criteria of money, and should instead be considered as "highly speculative investments."

26 crypto ATMs located in various cities throughout the UK have been shut down by the Financial Conduct Authority (FCA). The FCA has cautioned consumers that they may lose their money if they use these services.

K33 Research has reported that the cryptocurrency sector has seen a 10% decrease in employment over the past year, from 210,000 to 190,000 employees. This industry is comprised of around 10,000 companies, with a combined worth of approximately $180 billion.

Robert Kiyosaki, author of the bestselling book "Rich Dad Poor Dad," has warned that the US dollar will "die" and bitcoin will rise to $120,000 in 2024 if the BRICS countries launch a gold-backed cryptocurrency in August. He has once again urged people to purchase gold, silver, and bitcoin.

In June, Russian users became the top visitors to the biggest crypto-exchanges, according to crypto-journalist Colin Wu. They accounted for 19% of the total traffic.

The State Duma of the Russian Federation has passed the law on the introduction of the digital ruble in its second and third readings. The digital ruble will be subject to the bank secrecy law and it will not be possible to open deposits or take out loans in digital rubles.

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