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Peter Davis

An writer at FOMOdrive

  • Nov 05, 2023
  • 3 min read

Solana (SOL) soared 26%. Has altcoin season begun?

MEME, the meme token, experienced an increase of 2100% in a single day.

It is predicted that Bitcoin could reach a value of $47,000 by the end of November.

Factors contributing to the 10x growth of Bitcoin (BTC) include increased demand, increased acceptance, and improved technology.

Cathie Wood believes that Bitcoin is the only asset that can be securely held.

The State Duma declared that Bitcoin (BTC) is the currency of the future.

Bitcoin saw a slight increase of 1% in its growth rate over the course of the week. This has marked the start of the altcoin season in the market. The top ten altcoins have seen a rise of 5-15% in the same period, while Solana has seen the highest growth of 26%, pushing it up to the seventh spot in terms of market capitalization.

Arthur Hayes, the ex-CEO of the BitMEX crypto exchange, declared that even though he is not a fan of Solana, he still purchased the coins, which have recently seen a surge in value.

It is predicted by Valkyrie that the US Securities and Exchange Commission (SEC) will grant permission to initiate a spot Bitcoin ETF by the end of November.

SynFutures predicts that the first cryptocurrency, Bitcoin, could reach $47,000 by the end of November. This is due to the fact that, historically, November has seen higher returns than October, with an average of over 35%.

Cathie Wood, CEO of ARK Investment Management, has declared Bitcoin to be the only asset that can safeguard investors from both inflation and deflation in the upcoming decade.

Michael Saylor, the founder of MicroStrategy, has predicted that major banks will soon start buying bitcoins and offering services to their customers for storing and exchanging these assets. He believes that there are numerous reasons for the tenfold increase in the value of BTC.

U.S. retail clients can now access USD-settled regulated crypto futures trading through Coinbase Financial Markets, a subsidiary of the Coinbase platform.

Marathon Digital, an American mining company, has announced the commencement of a pilot project to mine BTC using methane produced from garbage in landfills as a source of energy.

In the upcoming months, DWS - an asset manager associated with Deutsche Bank - will be launching cryptocurrency-based exchange-traded funds (ETFs).

Ripple has been selected by the Central Bank of Georgia as a partner for the implementation and release of the nation's digital currency.

Elon Musk, the billionaire, has declared that none of the businesses he owns will ever release a cryptocurrency token of their own.

MEME token saw an incredible 2100% surge in a day after being listed on major crypto exchanges such as Binance, Bybit, OKX and HTX. This token is similar to the popular meme tokens PEPE and DOGE.

In early November, the cross-chain protocol Multichain, which had ceased functioning in July, was restarted, granting one of its users the chance to make $1 million from arbitrage.

Pavel Zavalny, the Chairman of the State Duma Committee on Energy, declared that Bitcoin is the currency of the future and that it will eventually replace both the dollar and the ruble.

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