As per cryptoquant, the next wave of institutional adoption will come from Spot Bitcoin ETF. The decision is being delayed by SEC. It is expected to have an inflow of 150 Billion $ of fresh money which could increase the marketcap by 450 Billion to 900 Billion. That being said the bitcoin price could jump to 50k – 70k.
Source : https://docsend.com/view/vzu8bmu5uh5d2dv6#
I was watching this long video where Altcoin daily was interviewing Raoul Paul. Some interesting points from him. Full video : https://www.youtube.com/watch?v=axvv2gUkSLU
– The crypto market is depressed and choppy right now after many catastrophic events like Fed raising interest rates, sec policies, FTX collapse,
– Bitcoin ETF launch can do wonders when launched at the time when Bitcoin is stronger and prices surging.
– He expects stronger market in 2024 because of election
– It’s good idea to focus on the crypto which are well established and has got some network value.
– We should not distract from new shining coin promising to be next big thing. Try to keep it simple and focus on top 5.
US Federal Reserve Meeting Update: FOMC Maintains Interest Rates, Acknowledges Robust Economic Growth, Steady Job Market, and Persistent Inflation. In its latest decision, the Federal Open Market Committee (FOMC) has chosen to keep interest rates unchanged. The committee took into account recent economic indicators, which point to a consistent expansion of economic activity at a robust pace. The Committee remains steadfast in its pursuit of two key objectives: achieving maximum employment and maintaining inflation at a sustainable rate of 2 percent over the long term.