| Quick Facts |
| Saylor Doubts $60K Retrace |
| BTC ETF Options Pass Second Hurdle |
| Other Significant Developments |
Quick Facts
Bitcoin Rebound, BTC ETF Options Gain Traction, and More Insights from the Week in Crypto.
Hodler’s Digest, Nov. 10 – 16
As we navigate the ever-shifting landscape of the cryptocurrency market, it’s essential to stay informed about the latest trends, news, and Insights. In this week’s Hodler’s Digest, we explore the perspectives of billionaire investor Michael Saylor, the progress of Bitcoin ETF options, and other significant developments that could impact your investment decisions.
Saylor Doubts $60K Retrace
Michael Saylor, co-founder of MicroStrategy, has been one of the most vocal proponents of Bitcoin as an investment opportunity. However, in a recent interview with Real Vision, Saylor expressed doubts about the possibility of Bitcoin retracing to the $60,000 level. According to Saylor, the cryptocurrency is likely to continue its upward trajectory, driven by increasing institutional investment and decreased regulatory hurdles.
Saylor’s skepticism about a $60K retrace is based on his assessment of the market fundamentals. He believes that the factors driving Bitcoin’s price growth, such as decreasing inflation, increasing adoption, and improved scalability, are likely to continue driving the asset’s value upward. Additionally, Saylor pointed out that the institutional investment in Bitcoin is a key driver of its price growth, and he believes that this trend is unlikely to reverse in the near future.
BTC ETF Options Pass Second Hurdle
On November 10, the second hurdle was cleared for the Bitcoin ETF (Exchange-Traded Fund) options, which could soon become a reality. The Commodities Futures Trading Commission (CFTC) gave the green light to the VanEck Bitcoin Trust, which would allow investors to buy and sell shares of the fund, allowing them to gain exposure to the cryptocurrency without having to physically hold it.
The VanEck Bitcoin Trust is not the only ETF option that has cleared the second hurdle. Other ETFs, such as the Coinbase ETF, are also awaiting regulatory approval. The passage of these ETFs could have a significant impact on the cryptocurrency market, as it would allow institutional investors and individual investors to gain exposure to Bitcoin and other cryptocurrencies through established financial infrastructure.
Other Significant Developments
In addition to Saylor’s comments and the progress of Bitcoin ETF options, there were several other significant developments in the cryptocurrency market this week. Here are a few highlights:
Bitcoin Trader Eyes $100K Price Tag by Thanksgiving Day: One Bitcoin trader believes that the cryptocurrency could hit $100,000 by Thanksgiving Day in the United States. According to the trader, the market is currently experiencing a rare phenomenon known as a “Halloween reversal,” where the cryptocurrency price drops before reversing and rising sharply. If this trend continues, the trader believes that Bitcoin could easily reach $100,000 in the near future.
Crypto Market Cap Hits $2 Trillion: The total market capitalization of all cryptocurrencies has surpassed $2 trillion for the first time, a significant milestone in the cryptocurrency market. This growth is driven by the increasing adoption of cryptocurrencies by mainstream investors and the development of new technologies that improve the scalability and usability of cryptocurrencies.
Regulatory Developments: There were several significant regulatory developments in the cryptocurrency market this week. The Japanese government announced plans to introduce new regulations to address the growing popularity of cryptocurrencies, while the European Union is considering a comprehensive regulatory framework for cryptocurrencies.
