After successfully breaking out of the previous bullish bull flag, Bitcoin experienced a pump, reaching new weekly highs at $31,812. It was an eventful week with several significant developments:
1) US judge ruled that Ripple XRP is not a security, leading to a price increase of 103.16% for XRP.
2) US inflation fell to 3%, lower than expectations.
3) Europe is set to launch its first spot Bitcoin ETF this month.
4) A former SEC Chairman stated that spot Bitcoin ETFs should be approved.
5) Coinbase re-listed Ripple XRP.
6) The CEO of $9 trillion asset manager BlackRock stated that crypto will transcend international currencies due to global demand.
7) The SEC acknowledged BlackRock's Spot Bitcoin ETF application.
8) The SEC also acknowledged Spot Bitcoin ETF applications from Fidelity, VanEck, WisdomTree, and Invesco.
9) Bank of America was ordered to pay $250 million for charging illegal fees and opening credit card accounts without customer consent.
10) The Australian Securities Exchange received its first spot Bitcoin ETF application.
Altcoins experienced significant price increases amidst this chaotic environment, offering numerous opportunities to multiply investments.
The history of crypto is still in its early stages of adoption worldwide. Major players, including companies, corporations, banks, and Eastern governments, are increasingly embracing cryptocurrencies.
The time for a major turnaround is approaching, and it's essential to be prepared.
For now, as scalpers who leverage the market, we've noticed Bitcoin consolidating within a range for approximately three weeks. A clear break and close above this range will finally bring us to the long-awaited $34,000 level. Conversely, if we break and close below the support at $29,800, we can expect downside movement towards the support intersecting the trend line.
We are eagerly awaiting the market's movements this week and excited about the potential for making profits.
Please note that the advice you receive about cryptocurrency should always be taken as guidance and not as definitive instructions on what to do. Investing in cryptocurrency, like any other type of investment, involves risks, including the loss of capital. Always conduct your own research and consult with a financial advisor before making investment decisions.
1) US judge ruled that Ripple XRP is not a security, leading to a price increase of 103.16% for XRP.
2) US inflation fell to 3%, lower than expectations.
3) Europe is set to launch its first spot Bitcoin ETF this month.
4) A former SEC Chairman stated that spot Bitcoin ETFs should be approved.
5) Coinbase re-listed Ripple XRP.
6) The CEO of $9 trillion asset manager BlackRock stated that crypto will transcend international currencies due to global demand.
7) The SEC acknowledged BlackRock's Spot Bitcoin ETF application.
8) The SEC also acknowledged Spot Bitcoin ETF applications from Fidelity, VanEck, WisdomTree, and Invesco.
9) Bank of America was ordered to pay $250 million for charging illegal fees and opening credit card accounts without customer consent.
10) The Australian Securities Exchange received its first spot Bitcoin ETF application.
Altcoins experienced significant price increases amidst this chaotic environment, offering numerous opportunities to multiply investments.
The history of crypto is still in its early stages of adoption worldwide. Major players, including companies, corporations, banks, and Eastern governments, are increasingly embracing cryptocurrencies.
The time for a major turnaround is approaching, and it's essential to be prepared.
For now, as scalpers who leverage the market, we've noticed Bitcoin consolidating within a range for approximately three weeks. A clear break and close above this range will finally bring us to the long-awaited $34,000 level. Conversely, if we break and close below the support at $29,800, we can expect downside movement towards the support intersecting the trend line.
We are eagerly awaiting the market's movements this week and excited about the potential for making profits.
Please note that the advice you receive about cryptocurrency should always be taken as guidance and not as definitive instructions on what to do. Investing in cryptocurrency, like any other type of investment, involves risks, including the loss of capital. Always conduct your own research and consult with a financial advisor before making investment decisions.
Luca Sepe