Wells Fargo Invests in Bitcoin ETFs Wells Fargo, the third-largest bank in the US, has invested in various spot Bitcoin ETFs, including: Grayscale Bitcoin Trust (GBTC) ProShares Bitcoin Strategy futures ETF Shares in Bitcoin Depot Inc. This move signifies a growing trend among traditional financial institutions to invest in Bitcoin through regulated ETFs. BNY Mellon…
Ethereum’s Recent Struggles Ethereum has been struggling to recover its momentum from early 2024, hovering around $3,000. However, one trader believes that the coin’s current dip is a buying opportunity. Reasons for the Bearish Sentiment Sharp losses in mid-April Rejection from $2,800 Concerns about Bitcoin’s layer-2 ecosystems Potential SEC classification as a security Competition from…
BlockFi, a crypto lending platform, has closed its website and chosen Coinbase as its partner for customer fund withdrawals. Coinbase as Exclusive Partner Eligible BlockFi customers can withdraw their crypto through Coinbase after April 28, 2024. Those who missed the deadline or didn’t verify their identity by May 10, 2023, can still withdraw their assets…
Crypto analyst Justin Bennett warns that Bitcoin (BTC) could face a steep decline if it fails to hold support at $61,000. He believes that a break below this level could keep BTC in a downtrend for some time. On the other hand, if BTC can rally above $65,000 on the monthly chart, it would signal…
A crypto trader has made an astonishing 86,000% profit on an Ethereum-based memecoin investment. Investment Details According to blockchain tracker Lookonchain, the trader purchased $6,500 worth of the MAGA (TRUMP) memecoin in late 2023. Today, that investment is worth a staggering $5.6 million. Trump’s Pro-Crypto Remarks The sudden surge in value coincides with former US…
Analyst’s Outlook Benjamin Cowen, a renowned crypto analyst, believes that Bitcoin (BTC) could be nearing its bottom. He draws comparisons to the market’s behavior after the 2016 halving event, which occurred eight years ago. Historical Precedent According to Cowen, the current price action resembles that of 2016 more closely than the 2020 halving. This suggests…
A popular crypto analyst, Altcoin Sherpa, believes that Bitcoin’s bull run is not over and predicts a surge to $100,000 by the fourth quarter of 2024. Potential Roadblocks However, Sherpa warns of potential bear cases that could cause a 35% drop in Bitcoin’s value before the rally. He suggests that a move to $50,000 could…
With the US presidential election approaching, the cryptocurrency industry has been buzzing with speculation about how the outcome could impact its future. Cardano Founder’s Concerns about President Biden Cardano founder Charles Hoskinson has expressed strong disapproval of President Biden’s approach to the crypto industry. He believes the Biden administration has actively tried to harm the…
Kraken, a major cryptocurrency exchange, is fighting back against the SEC’s claim that it operated as an unregistered exchange dealing with securities. Kraken’s Argument Kraken argues that the SEC is overreaching by: Confusing primary and secondary market transactions: Kraken claims the SEC is treating initial coin offerings (ICOs) as if they were traded on Kraken’s…
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” believes it’s time to move beyond Bitcoin and invest in Ethereum. Ethereum as a Hedge against Currency Weakness Kiyosaki suggests that Ethereum and other cryptocurrencies can protect against the declining value of the US dollar. He believes that the US dollar is losing its strength due…
