Spot Bitcoin ETF approved…finally
It’s been another interesting week in the cryptocurrency world.
In our last report, we mentioned the Spot Bitcoin ETF. "Approval could be possible as early as Wednesday." That’s exactly what happened this week. But there was a twist…
Something funny happened on Tuesday…
On Tuesday, the SEC tweeted: "Today the SEC approved the Bitcoin ETF for listing on all registered national security exchanges."
The tweet was only live for about 30 minutes before it was removed by the SEC.
That afternoon, Gary Gensler tweeted:
“The @SECGov Twitter account has been compromised and unauthorized tweets have been posted. The SEC has not approved the listing and trading of spot Bitcoin exchange-traded products.”
The funny thing is… as Eric Weiss mentioned,
"Has your account actually been compromised? Or was it a draft tweet released early by someone who was given access to the account?"
nevertheless, "unauthorized tweet" Bitcoin price surged to nearly $48,000 (despite rising for less than 30 minutes) (but has since fallen to $42,800).
next day…
Interestingly, the next day the SEC officially approved an all-spot Bitcoin ETF, but there wasn’t much price action because the approval was already reflected in market prices.
What happen?
According to @Satefy on X, the account is: "compromise" and "An unidentified individual has gained control of phone numbers associated with the @SECGov account.".
And while we may not get to the bottom of this, it’s strange that one of the most important announcements the SEC will make is this: "compromise’.
Going back to Eric Wiess’s tweet:
"Has your account actually been compromised? Or was it a draft tweet released early by someone who was given access to the account?"
That seems like a more reasonable answer.
What’s next
The next two big catalysts that will impact the cryptocurrency market this year will be the Bitcoin Halving event taking place in 2019. april And also, the impetus is building for the presidential election (to be held in November).
If you are interested in cryptocurrency predictions for 2024, read the following article:
richard knight
Transition to preparation phase
Now that we have positive news about the approval of a spot Bitcoin ETF and the Bitcoin halving is just a few months away, we are on track to see the market enter a preparatory phase over the coming months.
If you haven’t yet allocated some assets to cryptocurrencies, it’s not too late. Bitcoin is an excellent choice, but the greatest gains can be made within small-cap altcoins.
If you would like to know what we buy, please consider becoming a member.
Join us – as we build up.
Although prices are still relatively low, now is a great time to enter the market. If you want to know what we’re buying, join us as we share our monthly Altcoin recommendations in anticipation of the upcoming bull market. All you have to do is become a member.
Richard.
Top 100 popular altcoins:
Cryptocurrency markets are back in the green this week.
Today’s Crypto Fear and Greed Index:
today’s Cryptocurrency Fear and Greed Index = avarice –> Reduced to 64 (from 70).
Bitcoin and Ethereum price changes
Bitcoin Diminish 2.7% Here are the prices it is currently trading at last week: $42,788. Over the past 90 days, Bitcoin has increased by: 58.7%.
Ethereum increase 14.1% Here are the prices it is currently trading at last week: $2,568. Over the past 90 days, Ethereum has increased by: 64.5%.
Global cryptocurrency market capitalization increased to $1.68T (from $1.65T last week).
Top 100 Gainers – Last 7 Days
The biggest gainers over the past 7 days (in the top 100) are:
Ethereum Name Service (ENS) +74.2% – 88th
Ethereum Name Service (ENS) A decentralized system on the Ethereum blockchain that allows users to register and manage human-readable domain names ending in .eth, making it easier to send cryptocurrencies and interact with decentralized applications. It provides decentralization, compatibility, and user control.
Sui (SUI) +55.1% – Ranked #53
Sui (SUI) It is a blockchain protocol developed by Mysten Labs and is known for its high performance, scalability, and use of the Move programming language. It is designed to support a wide range of decentralized applications (dApps), especially in areas such as DeFi, NFTs, and gaming. Key features include a focus on high throughput, low latency, security, and user and developer friendliness. Sui’s team includes former employees of Meta (Facebook), highlighting its strong technology foundation. Sui aims to solve common blockchain problems such as scalability and ease of use.
Ethereum Classic (ETC) +43.6% – 21st place
Ethereum Classic (ETC) is a blockchain platform and cryptocurrency that was created as a spinoff from the original Ethereum network in 2016 following different responses to the DAO hack. We support the principles of "Code is law" It emphasizes the immutability of blockchain and the irreversibility of transactions.
Although it shares many technical features with Ethereum, including smart contract functionality, Ethereum Classic has evolved separately, with its own community and development path. The native cryptocurrency, ETC, is used for transactions and miner rewards. However, the network faces security challenges, including several 51% attacks. Overall, Ethereum Classic maintains its position in the cryptocurrency market, especially among proponents who value blockchain immutability and decentralization.
Helium (HNT) +36.7% – 60th
Helium (HNT) A decentralized blockchain network designed to provide wireless connectivity to Internet of Things (IoT) devices. It works through individual nodes called hotspots, which provide network coverage and are rewarded with HNT, Helium’s native cryptocurrency. The network uses a unique proof-of-coverage consensus mechanism to ensure legal coverage.
known as "National Network," Helium emphasizes a community-driven approach that allows anyone to run a hotspot and participate in the network. It is energy efficient, especially suitable for low-power IoT devices that require small data transmission. The network supports a variety of IoT applications in fields such as logistics, agriculture, and smart cities. Helium’s growth and success depends on continued expansion and adoption in the IoT space.
Biggest microcap gain in the last 30 days
We review and analyze small and micro market cap cryptocurrencies every week to find the next low-cap gem. The best performing (quality) microcap projects over the last 30 days are:
Top performing quality microcaps (last 30 days):
- cookie +1,844% – Trustless computing (microcap)
- metal +1,379% – Multiplayer shooting game (Nano-Cap)
- saddle +823% – SEI Liquid Stake (microcap)
Monthly altcoin selection:
We’ll be releasing our latest Altcoin Picks in the next two weeks. If you would like to take advantage of this monthly Altcoin picks, please consider becoming a member. It only costs the price of a few cups of coffee a month.
Altcoin recommendations are emailed to members as soon as they are posted. Wondering how we choose our monthly Altcoin recommendations? This is our methodology.
Altcoin recommendations from previous months can be found here.
We express our gratitude and respect to all members!
Until next report,
Richard.