cookchiang

@cookchiang

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There are several court cases between the SEC and Commodity Futures Trading Commission (CFTC) against crypto firms that are expected to move forward in 2025.

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Nevertheless, the US election results have overwhelmingly provided Bitcoin with unprecedented and extremely bullish conditions considering the backing of a US President who seems to be following through with his pro-crypto promises, among them to never sell Bitcoin from the US Bitcoin stockpile.

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For Chris Burniske, partner at venture capital firm Placeholder and former blockchain products lead at ARK Invest, the Bitcoin supercycle is a myth.

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The planned legislation also coincides with a rise in decentralized finance (DeFi) in Eastern Europe, which received over $499 billion worth of crypto between July 2023 and June 2024, according to Chainalysis.

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During the ongoing war between Ukraine and Russia, legalizing cryptocurrencies could offer Ukrainians a regulated means to access financial support, protect their assets from inflation, and facilitate cross-border transactions without relying on traditional banking systems, which may face disruptions during wartime. Cryptocurrencies have already been used for humanitarian aid, donations and financial stability during crises.

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Declining Bitcoin dominance suggests that investor are taking profit from their BTC positions and investing part of these funds into altcoins.

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In crypto slang, altseason, short for altcoin season, refers to the collective rally of cryptocurrencies besides BTC, which tend to benefit from Bitcoin’s declining dominance.

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Bitcoin dominance has printed a significant signal for altcoin investors, that could see smaller cryptocurrencies rally during December and attract more investments ahead of Jan. 20.

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All it needed to do, a chart showed, was repeat its performance from between October 2023 and March 2024, during which it gained 186%.

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Among them this week was popular trader Dave The Wave, who on Nov. 30 suggested that BTC/USD actually needed to put in little effort to achieve $150,000.

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As Cointelegraph reported, the business intelligence firm saw flash stock volatility after it purchased BTC worth more than $5 billion.

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On X, popular account The Bitcoin Therapist described Lee’s full remarks on MicroStrategy’s Bitcoin reserve as “one of the most clear and concise explanations about what is going with MicroStrategy and Bitcoin.”

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“It’s almost like taking a playbook from MicroStrategy because MicroStrategy has proven that using Bitcoin as a balance-sheet asset has really created a lot of value for MicroStrategy shareholders,” he reasoned.

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Lee added that the incoming United States government administration under Donald Trump could exert a significant legitimizing force on Bitcoin should it begin amassing coins under its strategic reserve pledge.

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The reason, he said, was BTC price cycles revolving around block subsidy halving events.

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Due to liquidity concerns, the Fed could increase the global money supply to over $127 trillion during 2025, up from the current $107 trillion, marking a potential 18% increase.

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Bitcoin could also benefit from the growth of the global M2 supply, which is projected to increase due to incoming liquidity injection from the US Federal Reserve.

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At the beginning of May, the M2 money supply turned positive year-over-year for the first time since November 2023, prompting investors to start looking for hedges against inflation, such as Bitcoin, which has surged by 58% since the money supply flipped positive.

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Coutts previously called the M2 money supply — an estimate of all cash and short-term bank deposits across the US — the key to the next Bitcoin rally due to its historic correlation with Bitcoin price.

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In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach double digits by 2026. The analyst’s accompanying chart showed that the first doble digits target for XRP will be $15, after which the crypto could eventually rally to $28. Behdark also provided more insights into XRP’s current price action and why this rally could happen.

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