Crypto trading/market thread

[pmbug]

... This rainbow chart is a popular tool that helps visualize bitcoin’s long-term price trends and market sentiment.

The chart itself is a colorful look at bitcoin’s historical price swings, plotted on a logarithmic scale. Originally crafted in 2014 by a Reddit user named Azop, it’s since been updated several times. Currently, blockchaincenter.net features two versions of the chart, which, at present, show BTC in the green “accumulate” zone. In past peaks—like the bull runs of 2013 and 2017—bitcoin surged into the “maximum bubble territory” range, represented in deep red.

But during the 2021 bitcoin rally, prices didn’t reach those red extremes, only making it as high as the “FOMO intensifies” level in dark orange. Now, there’s a chance bitcoin may never hit the red zone again. However, if it rises to the orange level, prices could reach six figures, significantly higher than today. If bitcoin climbs into the “Is this a bubble?” light orange zone by mid-February 2025, the price would surpass $200,000 per coin.
...

Bitcoin Hits Record High, but the Rainbow Chart Hints at Even Wilder Rides Ahead – Markets and Prices Bitcoin News

While bitcoin recently hit a record-breaking $89,983, the widely followed rainbow chart—known for illustrating bitcoin's long-term price movements and

news.bitcoin.com

Interactive chart here:

https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/

 

[searcher]

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.

• The value of El Salvador's bitcoin holdings have risen above $500 million and Bhutan's above $1 billion.
• Bhutan's BTC holdings now account for more than one-third of its GDP versus El Salvador's stack at just 1.5% of its GDP.
• The fiscal situation of El Salvador's government continues to improve.

More:

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.

www.coindesk.com

 

[searcher]

Dogecoin Trade Goes From Meme to Reality as Donald Trump Confirms D.O.G.E

In an X post, Musk said that all Department of Government Efficiency actions will be posted online for maximum transparency.

• President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead a newly formed Department of Government Efficiency (DOGE).
• Musk mentioned creating a leaderboard for the most inefficient government spending, blending transparency with public engagement.
• The announcement and the use of "DOGE" have significantly boosted dogecoin’s memetic fundamentals, with traders setting a long-term target of $1.

A frenzied narrative that boosted dogecoin (DOGE) prices over 500% turned to reality on Tuesday — showcasing how memetic bets could be a strong trading thesis.

More:

Dogecoin Trade Goes From Meme to Reality as Donald Trump Confirms D.O.G.E

In an X post, Musk said that all Department of Government Efficiency actions will be posted online for maximum transparency.

www.coindesk.com

 

[pmbug]

^^ trading, but not investing...

 

[pmbug]

Stock and crypto trading platform Robinhood (HOOD) has added sizably to the number of cryptocurrencies available to trade for U.S. customers just one week after elections appeared to usher in a far friendlier regulatory environment for the industry.

With the introduction of Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP), Robinhood will now offer trading in 19 cryptocurrencies for its American clientele, the company said in a blog post Wednesday morning.
...

Robinhood Adds SOL, PEPE, ADA, XRP Following Trump Victory

Crypto-friendly Donald Trump’s win in the U.S. presidential race will likely result in a change in leadership at the Securities and Exchange Commission.

www.coindesk.com

I suspect this is just the beginning of wider availability of crypto on more traditional brokerage platforms. @searcher - have you heard anything from Fidelity on this subject? Are they planning to add more crypto options to their portal?

 

[searcher]

I suspect this is just the beginning of wider availability of crypto on more traditional brokerage platforms. @searcher - have you heard anything from Fidelity on this subject? Are they planning to add more crypto options to their portal?

Haven't heard anything about new stuff as of yet.

BTC, ETH & LTC listed as tradable coins.

Commission free funds:

Fidelity® Wise Origin® Bitcoin Fund (FBTC) and Fidelity® Ethereum Fund (FETH)
Fidelity® Crypto Industry and Digital Payments ETF (FDIG)
Fidelity® Metaverse ETF (FMET)

ETF screener:

ETF Screener, Research, News and Performance | ETF Research | Fidelity

Get the latest ETF news and performance with Fidelity’s ETF research tools. Use our ETF screener to search over 2,500 commission free ETFs

digital.fidelity.com

Edit to add:

2024 End-of-Year Outlook | Covering Crypto | Fidelity

Fidelity professionals and industry leaders answer customer questions on crypto, FinTech, and blockchain technology. Topics include what is cryptocurrency, how to invest in Ethereum or bitcoin, and crypto market insights.

www.fidelity.com

Types of cryptocurrencies and their potential pros and cons | Fidelity

Compare the key attributes of bitcoin, ethereum, and other cryptocurrencies, as well as their potential advantages and disadvantages.

www.fidelity.com

Loading…

fidelityevents.com

 

[searcher]

Court considers dispute over disclosure of NVIDIA sales to crypto miners - SCOTUSblog

NVIDIA, the world’s most valuable company, sells computer graphics processing chips designed primarily for use in video games, which it sells to manufacturers of game devices. As it happens, NVIDIA’s chips also are useful for mining cryptocurrency, and in 2017 many crypto miners started to buy NVIDI

www.scotusblog.com

 

[searcher]

Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level

The move came as U.S. markets opened for trade, suggesting strong demand from American investors.

www.coindesk.com

 

[pmbug]

Saw this just now and it made me laugh:



It's actually a nice way to visualize the issue though. AFAIK, Cardano is outclassed by SUI and EGLD and possibly others at the moment, but Cardano peeps are trying to punch up with their marketing.

 

[pmbug]

Hmmm....

The 2 leading contenders for US Treasury Secretary are openly pro-Bitcoin.

1. Scott Bessent is "is very pro-crypto, particularly pro-Bitcoin"

2. Howard Lutnick, who is a Bitcoin mega-bull

Polymarket rates it 92.2% likely that one of these 2 will get the nod.

Here's what each have said about Bitcoin recently

“I think everything is on the table with Bitcoin. One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”
-- Scott Bessent (source, @EleanorTerrett)

"I believe in a future where Bitcoin trades freely around the world. And we are going to do everything in our power to make it so that Bitcoin does just that – without exception and without limitation."
-- Howard Lutnick, Bitcoin Conference, 2024, Nashville

Polymarket ranks Bessent as 76% likely, Lutnick at 16.2% likely to get the job but today his odds are rising steeper than a Nov 11 Bitcoin price.

 

[Peter89]

El Salvador's Bitcoin Stash Rises Above $500M

They have 1.3 tons of gold, i.e. $110M, so they have 5x more BTC than gold.
Maybe because BTC is easier to source than gold?

 

[searcher]

Senator Lummis proposes swapping Federal Reserve’s gold for Bitcoin reserves​

In this post:​

• Senator Cynthia Lummis wants the U.S. to swap some of its gold for Bitcoin, building a massive Bitcoin reserve without adding to the national debt.
• The plan? Buy 1 million Bitcoin, about 5% of the whole supply, using money from the Fed’s gold, which Lummis says won’t mess up the balance sheet.
• Trump’s backing it, but not everyone’s sold, with experts saying Bitcoin prices could explode if the U.S. follows through.

Senator Cynthia Lummis has a plan. In a sweeping move that would upend the U.S. financial status quo, the Wyoming Republican wants the Federal Reserve to trade part of its gold stash for Bitcoin.

That’s right — ditch gold, buy Bitcoin. The idea, which Lummis plans to introduce in Congress next year, would create a strategic Bitcoin reserve for the United States, without adding a single dollar to the national debt. The goal is to accumulate one million Bitcoin—5% of all the Bitcoin in existence. At today’s prices, that’s $90 billion.

More:

https://www.cryptopolitan.com/senator-lummis-proposes-swapping-federal-reserves-gold-for-bitcoin-reserves/

Cynthia Lummis - Wikipedia

en.wikipedia.org

 

[Cigarlover]

Swapping gold for BTC? No thanks.

 

[pmbug]

Yeah... I'm happy for Fedgov to diversify and support decentralized crypto - building a BTC reserve is a worthwhile idea, but not at the expense of divesting gold reserves. Fedgov can fund purchases by cutting spending from the war machine or administrative state.

Also, I saw many comments on Xitter asking (paraphrased), "what gold? The Federal Reserve doesn't own any gold. They are custodians, not owners".

 

[searcher]

47-minute podcast here. Nothing to see, can listen in one tab, play around the forum in a different tab. I'm halfway through and think it's worth sharing. Some of this, some of that, lotta talking points but interesting - imo. As always, take it fwiw and dyodd.

Lever Time | Welcome To The United States of Crypto

No matter what, the cryptocurrency industry was going to win the election. After spending hundreds of millions to influence politicians in both parties, the industry defeated some of its fiercest critics and scored bipartisan support, particularly from President-elect Donald Trump, despite...

share.transistor.fm

 

[Voodoo]

I know this is the Silver report but he talks about Bitcoin and Tether a lot in the video. Tether is being used to just prop up US Treasuries.

 

[pmbug]

...
Also, I saw many comments on Xitter asking (paraphrased), "what gold? The Federal Reserve doesn't own any gold. They are custodians, not owners".

 

[searcher]

Bitcoin rises over 16% in a week on hopes of crypto-friendly U.S. policy: CNBC Crypto World​

Nov 15, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Will Peck, head of digital assets at WisdomTree, discusses what a national bitcoin stockpile could mean for prices and the future of crypto-focused ETFs.


11:42

Chapters
00:00 - CNBC Crypto World, November 15, 2024
0:22 - Bitcoin holds steady
0:53 - The headlines
3:19 - Will Peck of WisdomTree

 

[Cigarlover]

I have to say BTC looking pretty strong even with stocks selling off. Forming a bull flag and consolidating at the recent new high seems very positive. Interesting to watch.

 

[nickndfl]

Buy BTC on weakness around $70-$74k. It's going to $125k. Wait for the pullback.

 

[pmbug]

Ripple (XRP), Cardano (ADA) and SUI are tearing it up. All three up ~70%+ over the last week.

 

[searcher]

Hope this hasn't already been posted.

Pennsylvania bill proposes $700M Bitcoin allocation from state treasury​

Pennsylvania lawmakers have proposed a bill to pump $700 million of the state’s treasury into Bitcoin. The Pennsylvania Bitcoin Strategic Reserve Act wants to throw 10% of the state’s $7 billion into the world’s most famous cryptocurrency.

If it passes, Pennsylvania will become the first state in the country to stash Bitcoin in its treasury. Donald Trump’s return to the White House is already reshaping America’s crypto narrative. The man hasn’t even stepped back into the Oval yet, but Bitcoin’s price is partying like it’s 2021.

n just a week, price shot up 20%, blasting past $93,000 per token. Its market cap? A casual $1.8 trillion. This makes Bitcoin the seventh-largest asset on the planet. Bigger than anything not named gold, Nvidia, Apple, Microsoft, Amazon, or Google.

Trump’s campaign promises to make the U.S. the “crypto capital of the planet” and turn Bitcoin into a “permanent national asset” are fueling this frenzy. Pennsylvania just might be the first state to ride that wave.

More:

MSN

 

[searcher]

The Crypto Revolution comes to Washington

The industry that bankrolled pro-crypto candidates in the 2024 elections shows no signs of stopping

www.salon.com

 

[searcher]

Haven't heard anything about new stuff as of yet.

BTC, ETH & LTC listed as tradable coins.

Commission free funds:

Fidelity® Wise Origin® Bitcoin Fund (FBTC) and Fidelity® Ethereum Fund (FETH)
Fidelity® Crypto Industry and Digital Payments ETF (FDIG)
Fidelity® Metaverse ETF (FMET)

ETF screener:

ETF Screener, Research, News and Performance | ETF Research | Fidelity

Get the latest ETF news and performance with Fidelity’s ETF research tools. Use our ETF screener to search over 2,500 commission free ETFs

digital.fidelity.com

Edit to add:

2024 End-of-Year Outlook | Covering Crypto | Fidelity

Fidelity professionals and industry leaders answer customer questions on crypto, FinTech, and blockchain technology. Topics include what is cryptocurrency, how to invest in Ethereum or bitcoin, and crypto market insights.

www.fidelity.com

Types of cryptocurrencies and their potential pros and cons | Fidelity

Compare the key attributes of bitcoin, ethereum, and other cryptocurrencies, as well as their potential advantages and disadvantages.

www.fidelity.com

Loading…

fidelityevents.com

More:

iShares ETFs | Create opportunities and lessen risk | Fidelity

Learn about what's creating opportunities and risks for investors who seek income from their portfolios. Learn more here.

www.fidelity.com

 

[pmbug]

CHICAGO, IL / ACCESSWIRE / November 18, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has adopted a strategy to include Bitcoin and Ethereum as part of its treasury reserve assets.

The adoption of this new policy follows the Company's forward-thinking approach to investing in new technologies, including the recent acquisition of Cloudscreen, its AI-driven drug repurposing platform.

The Company expects that adding Bitcoin and Ethereum, along with potentially other cryptocurrencies and blockchain-related assets, will help diversify its balance sheet and offer significant upside potential as these assets increasingly gain global adoption.

In addition to holding Bitcoin and Ethereum as treasury reserve assets, the Company is also working to accommodate customers who wish to make payments in cryptocurrencies.
...

COSM - Cosmos Health Integrates Bitcoin and Ethereum as...

CHICAGO IL / ACCESSWIRE / November 18 2024 / Cosmos Health Inc. (Cosmos Health or the Company'') (NASDAQ:COSM) a diversified vertically.

marketwirenews.com

 

[pmbug]

SINGAPORE, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading AI-powered education and acceleration group, today announced that its Board has adopted a global “Bitcoin-first” strategy with Bitcoin to be the primary treasury reserve asset. The Board’s adoption of this new policy follows the recent restructuring of its Board to include experts in Blockchain and Web3 technologies.

The Company’s Board of Directors have approved the following Bitcoin-first strategy:

• To commit 90% or more of our current and future reserves to be held in Bitcoin
• Commence utilizing our $150 million ATM1to acquire an initial target of $120 million in Bitcoin, to be held for the long term as its primary treasury reserve asset
• Launch our Web3 Wealth Renaissance education series for students to accelerate their understanding of Bitcoin, Cryptocurrency and Blockchain with Genius Group’s AI-powered guides.
• Enable Bitcoin payments globally on the Company’s Edtech platform.

...

Genius Group Adopts Bitcoin Treasury Reserve Strategy

SINGAPORE, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a…...

ir.geniusgroup.net

 

[pmbug]

 

[searcher]

Can a Strategic Bitcoin Reserve Move Forward Without Congress? Experts Disagree

The U.S. government already holds more than 208,000 bitcoin, but retaining it is more complicated than might be assumed.

www.coindesk.com

 

[searcher]

Spot Bitcoin ETF Options Could Start Trading As Early As Tomorrow

The availability of options is thought to possibly bring further institutional interest to the bitcoin ETFs.

www.coindesk.com

 

[Goldhedge]

Honest money on the way! The golden age.

Death and Rebirth of America – Bo Polny​

Biblical cycle timing expert, geopolitical and financial analyst Bo Polny predicted long ago that Donald J. Trump would be swept back into office. After Trump’s stolen election in 2020, Polny steadfastly said he would still get two terms. He was right on both counts. What does Polny see now? Polny says, “God used Trump as the cheese to bring out all the rats. Right before the election, everybody exposed themselves of what side they are sitting on. All these people in Hollywood were saying all this crazy stuff right into the election. All the players exposed what side of the fence they are sitting on. Think about it. So, now you know all the players. . . . We are going to find out more very soon because this is not done yet. As great as the victory was in 2016, for the next four years, it was Russia-gate, China-gate, warfare, lawfare and impeach. I ask a simple question: What is going to change this time around? Demons only know how to steal, kill and destroy. We saw that for four years, and we are going to see that again for four more years, but God is going to intervene, and we are not going to see that.”

Polny says that the economy is going to be rebuilt, and gold and silver are going to jump even higher in price. Months ago, Polny predicted Bitcoin would hit $100,000 per unit by the end of 2024. It hit $94,000 before settling back down on Tuesday (11/19). Polny says, “We have not had the wealth transfer yet. We have seen Bitcoin jump, but we have not seen gold and silver jump yet. It’s going to explode. My first target is $68 to $70 in a single day for silver and gold over $4,000 per ounce in a single day.”
83

 

[pmbug]

Gold to trade up $4000 in a single day, huh? Not "up to", but "up" - as in gains $4000 in a single day? I think Bo is drinking a bit too much sacramental wine...

 

[rblong2us]

Bo Balony we call him
clickbaiting is all he can do

 

[searcher]

Bitcoin ETF Options Attract $2B on Day One, Shifting BTC’s Market Structure

IBIT options went live Tuesday in a first, a move that market participants widely expect to draw more institutional interest in bitcoin (BTC). Here’s how they could impact the market.

www.coindesk.com

 

[searcher]

Bitcoin hits new record near $95,000 as investors monitor Trump transition: CNBC Crypto World​

Nov 20, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Andrew O'Neill of S&P Global Ratings discusses how crypto policy changes under Trump could affect crypto prices.


10:22

Chapters
00:00 - CNBC Crypto World, November 20, 2024
0:23 - Bitcoin sets new record
0:42 - The headlines
2:51 - Andrew O'Neill of S&P Global Ratings

 

[Voodoo]

They are trying to sucker people into Bitcoin now again. BTC is up pretty strong today but they are Dumping the leveraged MSTR with a huge outside reversal day. JUST like they do to PM miners the day before a strong attack on gold/silver. Look for a temp high below 100k

 

[Voodoo]

Something's up. MSTR crashed 30% intraday today with Bitcoin up $4,000 and almost to $100k.

 

[searcher]

Bitcoin hits fresh record, marches toward $100,000 as rally continues​

• Bitcoin breached the $99,000 level for the first time Thursday as investors continued pricing in a second Donald Trump presidency.
• Bitcoin has been regularly hitting fresh records this month on hopes that Trump will usher in a golden age of crypto.
• Bitcoin has gained about 130% in 2024.

Bitcoin breached the $99,000 level for the first time Thursday as investors continued pricing in a second Donald Trump presidency.

More:

https://www.cnbc.com/2024/11/21/crypto-market.html

 

[pmbug]

Financial services giant Charles Schwab has plans to directly offer crypto investments to its clients, president and incoming CEO Rick Wurster told Yahoo Finance in an interview on Thursday.

Wurster, who will step into the new role on Jan. 1, said that clients of the bank have already been very active in the crypto space through vehicles like exchange-traded funds (ETFs), futures and closed-end funds, and have done well with those.

But the bank wants to take it a step further.

“We also would like to directly offer crypto,” he said. “We’ve been waiting on a change in the regulatory environment … and we’re confident that we think that will come in short order.”
...

Charles Schwab Wants to Directly Offer Crypto to Clients, Incoming CEO Says

Rick Wurster, who will step into the role of the CEO in the new year, said that the bank has been waiting on a change in the U.S.'s regulatory environment, which he expects to happen soon.

www.coindesk.com

Fuck you Gary Gensler! lolololol

 

[pmbug]

 

[searcher]

Bitcoin tests $100,000 heading into the weekend: CNBC Crypto World​

Nov 22, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bitwise CEO Hunter Horsley shares his thoughts on the crypto rally and whether he sees a correction coming soon.


11:37

Chapters
00:00 - CNBC Crypto World, November 22, 2024
0:17 - Bitcoin nears $100,000
1:09 - The headlines
2:45 - Bitwise's Hunter Horsley