Major cryptocurrencies, including Bitcoin, Dogecoin, and Ethereum, are currently navigating a mix of bullish potential and bearish pressures in the market. The cryptocurrency market is facing critical resistance levels, and
Kevin Svenson is optimistic about Bitcoin's price recovery. He predicts Bitcoin could reach a new high by year-end. Continue Reading: Kevin Svenson Predicts Bitcoin’s Bullish Momentum and Price Surge The post Kevin Svenson Predicts Bitcoin’s Bullish Momentum and Price Surge appeared first on COINTURK NEWS .
Bitcoin in better state than others, despite suppressed performance in recent past
Bitcoin could reach $130,000 this cycle, a target described as a “great result” by seasoned trader and DecenTrader co-founder Filbfilb. In a recent interview with Cointelegraph, Filbfilb shared insights on Bitcoin’s trajectory amid a recovering market and incoming political changes in the U.S. Trump Administration and Bitcoin Market Dynamics After rebounding from two-month lows, Bitcoin is trading above $100,000 as of Jan. 17, according to Cointelegraph Markets Pro and TradingView data. Filbfilb believes the Trump administration’s pro-Bitcoin stance could boost the market. However, potential trade wars could disrupt the broader risk-asset rally. Despite these uncertainties, Filbfilb predicts Bitcoin will maintain its leadership in the crypto market, possibly achieving record dominance. He remains optimistic about Bitcoin’s ability to outperform equities if favorable policies are enacted quickly. Short-Term Expectations and Market Reactions In response to potential unmet expectations regarding executive orders, Filbfilb said, “I had anticipated a bumpy open to the year with a recovery in the second part of the month, which is what we have seen so far.” While Bitcoin’s current price reflects cautious optimism, he noted, “If something like this is ruled out, I’m sure there would be a dip, but probably an overreaction and perhaps an opportunity.” MicroStrategy and Bitcoin Correlation Discussing MicroStrategy’s stock performance, Filbfilb dismissed claims of it being a “ponzi scheme” but acknowledged its risks. “At present, the premium over net asset value (NAV) is around 2, similar to levels seen when Bitcoin consolidated around $60,000-$70,000,” he explained. If Bitcoin surpasses $100,000, he expects MicroStrategy’s stock to surge, driven by increased interest in Bitcoin. “Short term, I’m not too concerned about a major retracement for MSTR, unless there is a big pullback in Bitcoin,” he added. Long-term concerns about MicroStrategy’s debt servicing are noted but remain a topic for the future.
States across the U.S. are paving the way for Bitcoin investments, with Wyoming and Massachusetts leading initiatives to establish state Bitcoin reserves. The legislation in Massachusetts permits a significant 10%
Gary Gensler’s time at the helm of the U.S. Securities and Exchange Commission (SEC) ends this Friday. The San Francisco-based blockchain company Ripple is marking the occasion with enthusiasm. Stuart Alderoty, Ripple’s chief legal officer, took to social media, remarking , “Starting tomorrow, ‘Gary who?’ will be the only appropriate response if someone mentions his name. Onward.” Gesler’s aggressive stance The SEC filed its opening brief in the appeal of its ongoing lawsuit with Ripple earlier this week. The case in question was based on the perceived nature of XRP as a security and has been widely discussed in the cryptocurrency industry. Ripple, however, appears unfazed. Alderoty called the latest legal action “noise,” suggesting that the SEC’s new leadership could adopt a new approach. He also noted that the case could be deferred, as there were reports that certain cryptocurrency-related enforcement actions without fraud claims could be suspended. The appeal comes as the SEC, under Gensler, has been accused of being overly aggressive in the legal arena by many industry participants. Ripple’s lawyer, John Deaton, who is actively involved in the case against the SEC, has also slammed Gensler for his leadership. Another example of how @GaryGensler is leaving the @SECGov in disgrace. The reputation of the SEC, both inside and outside the courtroom, is in complete shambles.Paul Atkins has his work cut out for him. It would be nice to witness real reform at the SEC. Also, we need to… https://t.co/ZnaSdbJbrc — John E Deaton (@JohnEDeaton1) January 14, 2025 He said Gensler left the SEC in disarray within and outside the court. Deaton, however, said that there may be changes under the new chair, Paul Atkins, who is a nominee of President-elect Donald Trump. Akins is expected to pause some activities against cryptocurrency companies, which will be favourable to Ripple. According to the reports, the SEC under Atkins intends to allow more cryptocurrency exchange-traded funds (ETFs). Analysts predict that the probability of the approval of an XRP ETF in 2025 is 66% which could lead to over $8 billion of inflows. Gensler became the SEC chairman in 2021, and there were high hopes that he would be more receptive to cryptocurrencies due to his experience teaching blockchain and crypto at MIT. At first, some people in the industry, including Ripple CEO Brad Garlinghouse, applauded his appointment. However, his time in the role has been marked by controversy, as the SEC has sued numerous major crypto firms. It has been the privilege of a lifetime to work for you as @SECGov Chair. Over the last four years, we updated rules in our equity market & Treasury Markets, & shortened the settlement cycle. We returned more than $2.7B to harmed investors. A quick look at the last four years: pic.twitter.com/gUBfaiURMx — Gary Gensler (@GaryGensler) January 17, 2025 However, Gensler came to the defense of the SEC in an interview saying that cryptocurrency enforcement was only 5% of the agency’s workload. He called his four years at the helm of the SEC “the privilege of a lifetime.” Trump administration and XRP surge The regulatory landscape could see a major change under President-elect Donald Trump, who promised to fire Gensler and adopt more lax market rules. Ripple chief executive Brad Garlinghouse has been constantly in touch with the new administration and reportedly had a meeting with Trump at Mar-a-Lago this month. According to reports, Garlinghouse proposed the concept of a federal crypto reserve that would include XRP and Bitcoin. However, Ripple has not confirmed these discussions. Despite the prevailing legal ambiguities, XRP has given impressive results. The cryptocurrency recently spiked to $3.23, coming close to its previous record of $3.40 set in 2018. In the past week alone, XRP has jumped by more than 40%, with higher-value transactions and the number of holders on the rise. Currently, XRP is trading at $3.28, having risen by 2% in the last 24 hours. According to Analytics firm Santiment, there were 2,365 XRP transactions worth more than $100,000 within a day for eight hours. Also, over 500,000 new XRP wallets have been created in the last two months, which speaks about the continuing interest in the token. 📈 XRP has just reached a new 7-year high, crossing a $3.39 market value for the first time since January, 2018. With this rise, we have just seen 2,365 $100K+ XRP transactions in the latest 8-hour span, the highest spike since December 34rd. Total holders are also skyrocketing. pic.twitter.com/gtaRp0NPn9 — Santiment (@santimentfeed) January 16, 2025 From Zero to Web3 Pro: Your 90-Day Career Launch Plan
As bitcoin’s valuation experiences a notable upswing, miners are deriving substantial financial advantages from an elevated hashprice—the metric denoting daily revenue earned per petahash per second (PH/s) of computational power devoted to the Bitcoin network. BTC Mining Revenues Soar as Hashprice Climbs Miners have seen a marked increase in profitability as BTC exceeded the $105,000
On Jan. 14, 2025, Gary Gensler had a farewell interview on CNBC. On January 20, he will step down as the chairman of the SEC. What were their conclusive words to the crypto community? At the very start of the interview, the host, Andrew Ross Sorkin, makes a remark that sets the context. He notes that even in the last few days of Gensler’s tenure as the SEC chair and launch of the Trump administration 2.0, Robinhood brokers had to settle $45 million SEC charges associated with violations of ten law provisions. Read more: Robinhood hit with $45m SEC settlement over securities violations At that time, Sorkin didn’t know that after the interview, the SEC would rekindle the case against Ripple. Gary Gensler opens the Ripple case yet again. #BreakingNews #CryptoNews #NewsUpdate #Ripple #Trump #ElonMusk #XRPArmy pic.twitter.com/eSYGdkp1jH — Rexla (@RexlaGlobal) January 17, 2025 Sorkin’s smart tone-setting remark paints Gensler as a soldier relentlessly fighting to protect the prehistoric laws from the burgeoning cryptocurrency sector. Let’s see what Gary told the CNBC hosts over various topics during an exit interview. Trump 2.0 as pro-crypto administration Admitting that donors from the crypto field were prominent in sponsoring Trump’s campaign, Gensler noted that the election was not about cryptocurrencies. He mentioned that his predecessor, Jay Clayton, who will serve in the new Trump administration, brought up 80 cases during his past tenure. It seems that Gensler is hinting that the new administration is not going to tolerate lawbreakers, no matter how pro-crypto it is. Gensler’s epitome: cryptos are securities. Period Sorkin pointed out that Gensler, during his tenure, has been battling crypto companies, leaning on the existing laws while not working on creating the laws that would have factored the changing reality in. This question is really genuine as Gensler is known as a person who tends to equate most cryptocurrencies to unregistered securities, which is a very uncomfortable way to perceive crypto for crypto companies. Instead of pushing the new rules to efficiently regulate crypto, Gensler was trying to shove crypto into an already existing law configuration, no matter how inadequate it is for crypto. Mostly, these laws were not created with cryptocurrencies in mind and mostly predating their vast presence. Gensler insists that most cryptocurrency projects must adhere to the laws regulating securities, and in many instances, they fail to comply. Despite the initial interest in Bitcoin , the SEC-era Gensler doesn’t see crypto as something that never existed before and sticks to his guns, repeating a “cryptos are nothing but unregistered securities” mantra. Answering Sorkin’s question, he said crypto is mostly traded leaning on the sentiment and not fundamentals, but if (sic!) the fundamentals are there, crypto companies should make disclosures adhering to the securities laws. Bitcoin is not a security, but other cryptocurrencies are dangerous Gensler said that Bitcoin is not a security now (sic!), but other thousands of cryptocurrencies pose a threat to the investing public, and it’s his duty as a law enforcement agent to protect these people from fraud, money laundering and other crimes. “There has been too much of that in this field,” Gensler said. More than that, he is sure that the exchanges are “trading against their customers.” As for Bitcoin, Gensler compared the first cryptocurrency to gold and noted that it is a highly volatile speculative asset, but people want to trade it. However, Gensler said he cannot predict the future of Bitcoin, and he doesn’t know whether it will have any value in 10 or 20 years from now. Sorkin said that Gensler’s attempts to fight Bitcoin were in vain as at the end of Gensler’s era, Bitcoin was as popular as never before. At the same time, Gensler failed to prevent this great bubble from blowing (if it proved to be a bubble). Twice, Gensler dodged to comment on how he feels about his role in both of these scenarios, none of which portrays him as a winner. Listing his main achievements as the SEC chair, he mentioned reforms in the stock market policy and other sectors not related to cryptocurrencies. Afterword It is interesting how Gary Gensler went from a tech-savvy official genuinely intrigued by the potential of blockchain technology to a rigid gatekeeper in just two years. In 2019, he wrote an inspired editorial on the future of Bitcoin for CoinDesk. In 2021, he became the most notorious cryptocurrency foe in SEC history. A person who famously called stablecoins “poker chips” for gambling, he dedicated his time in the SEC to legal battles with Binance, Coinbase, Ripple, and Gemini while overlooking the FTX collapse. Hopefully, now that he is retiring, he will find peace. He says he never owned any cryptocurrencies. Who knows what’s next for Gensler, will he soften his heart to Bitcoin? You might also like: Tom Emmer named Vice Chair of Digital Assets Subcommittee, slams SEC’s Gensler
Trump's strategic Bitcoin reserve could inspire global governmental policies. Experts predict substantial price increases for Bitcoin within the coming year. Continue Reading: Trump’s Bold Move: Launching a Strategic Bitcoin Reserve The post Trump’s Bold Move: Launching a Strategic Bitcoin Reserve appeared first on COINTURK NEWS .
A new study out of the University of Georgia finds that social media users are more likely to invest in crypto. The study, published in the International Journal of Bank Marketing, aimed to “investigate the associations between social media usage and cryptocurrency investment behavior.” “Cryptocurrencies have gained popularity among investors despite their high risk and volatility. Social media wields substantial influence over investors’ attitudes, judgments and decisions related to investment.” The study, conducted by researchers Kyoung Tae Kim and Lu Fan, claims to be one of the first of its kind. “This study is one of the initial attempts to examine the role of social media platforms in cryptocurrency investment. The findings offer unique and important theoretical and practical insights for policymakers, researchers and practitioners, which can benefit consumer well-being.” According to the researchers, the study concluded that social media users are more likely to invest in cryptocurrency. “Investors who used social media for investment information were more likely to invest in cryptocurrencies and consider investing in cryptocurrencies in the future. The likelihood increased with the number of social media platforms used. Different social media platforms exhibited distinct associations with cryptocurrency investment experiences and future considerations.” According to researcher Lu Fan , much of the chatter surrounding cryptocurrency originates from and echoes within social media. “A lot of people talk about cryptocurrency on social media and how popular it has become. There are a lot of celebrities talking about this. People are thinking, ‘Because my friends, families and the celebrities I admire all invest in that, maybe I should too.” Fan also highlights a link between youth, social media use, and crypto investments. “Our study showed that the younger adults are more likely to invest in crypto now, and they’re also the majority users of social media. So, when serving those young adults who usually need to gain more financial literacy through life experience and age, there needs to be some guidance as well.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/noEnde The post University Study Links Social Media Activity to Higher Rates of Crypto Investments appeared first on The Daily Hodl .