reza21 🎩

@reza21

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A savvy cryptocurrency trader has made over $15 million in profits by chasing Bitcoin’s rally over the past few days. According to Coinpedia, the trader sold 619 Bitcoins for $46.44 million between November 6 and 8, making a profit of $8.85 million. The average price of the Bitcoin he sold was $75,029. However, as the price of Bitcoin quickly broke through the $80,000 mark, the trader bought another 562 Bitcoins for $80,895 and sold them last night near the peak of around $93,050, making another huge profit of $6.85 million.

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President-elect Donald Trump’s Trump Media and Technology Group (TMTG) is in advanced talks to acquire Bakkt, the Intercontinental Exchange’s (ICE) cryptocurrency trading platform, according to the Financial Times. The potential deal would involve an all-stock buyout, with TMTG aiming to diversify its operations and tap into the growing cryptocurrency market. Bakkt’s stock price jumped about 165% following the news. TMTG, the parent company of Truth Social, has a market value of $6 billion despite revenue of just $2.6 million this year. Bakkt’s cryptocurrency custody arm is said to be excluded from the deal. The move could expand Trump’s presence in the cryptocurrency industry.

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Michael Saylor, founder and chairman of Microstrategy, predicted that the price of Bitcoin will reach $100,000 by the end of 2024. In an interview with CNBC, he cited Wall Street support and positive actions from regulators as factors in Bitcoin’s growth. According to Silver, Microstrategy’s investors and shareholders want to buy more Bitcoin. Silver also announced that Microstrategy plans to invest $42 billion in Bitcoin. The company bought 27,200 Bitcoin in the first 10 days of November with an investment of $2 billion, and today announced the purchase of another 51,780 Bitcoins, worth $4.6 billion.

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Rumors indicate the possibility of Gary Gensler resigning from the head of the US Securities and Exchange Commission (SEC) and joining BlackRock. This could lead to closer collaboration between regulatory expertise and institutional finance. At the same time, analysts believe the spot bitcoin (BTC) exchange-traded fund (ETF) market could grow to $100 billion as more investors want to invest in cryptocurrency-based products.

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Cathie Wood, founder of ARK Invest, announced in an interview with CNBC Squawk Box that Bitcoin will reach $650,000 by 2030. He cited the reasons for this price increase as legal transparency from the future American government, increased acceptance by the traditional financial sector, and a decrease in the inflation rate. Wood also stated that Bitcoin is now considered a new asset class and that financial institutions are considering including it in their investment portfolios.

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The high-profile lawsuit filed by Dogecoin investors against Elon Musk for allegedly manipulating the price of this digital currency has officially ended. The investors withdrew their appeal after the judge dismissed the case. The lawsuit, filed in 2022, accused Musk and Tesla of fraud and insider trading. The judge in the case dismissed the plaintiffs' claims in August, saying reasonable investors could not take Musk's comments as investment advice.

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Michael Novogratz, the billionaire founder of the digital currency investment company Galaxy Digital, has expressed his opinion on the possibility of the United States creating a strategic reserve of Bitcoin (BTC) as proposed by President-elect Donald Trump. He hesitated. "I still think the odds are low," Novagratz said in an interview with Bloomberg. Of course, he predicted that if these reserves were created, the price of Bitcoin could reach $500,000.

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Matthew Hougan, Chief Investment Officer of Bitwise, has a bold vision for the future of Bitcoin (BTC). According to him, as long as the price of this digital currency does not reach the level of 500,000 dollars, there is still a good opportunity to enter the market. This hopeful statement comes in the context of Bitcoin's stellar performance this year.

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President-elect Donald Trump has announced that Elon Musk and Vivek Ramaswamy will jointly head the new Department of Government Efficiency (D.O.G.E.). This ministry was established with the aim of reducing government expenses and increasing operational efficiency

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John Reed Stark, the former head of the US Securities and Exchange Commission (SEC) Internet Enforcement Office, announced that Gary Gensler will likely resign before the inauguration of Donald Trump. According to him, Hester Pierce, who has a positive approach to digital currencies, will probably replace Gensler, and with this change, the SEC's strict actions against digital currency companies will stop.

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Bitmax founder and cryptocurrency industry expert Arthur Hayes believes there are huge business opportunities in the growing market for digital assets. In an interview, he stated that the digital currency bull market started in March 2023 with the secret printing of trillions of dollars by the Federal Reserve. He also pointed to Solana's strong performance and sees it as Ethereum's main competitor in the short term.

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Raoul Pal, CEO of Real Vision and a macroeconomic expert, predicted that Solana will likely outperform Ethereum in this cycle, but another cryptocurrency may do even better. Paul believes that Sui (SUI), which is among the top 20 digital currencies, can outperform Solana, Ethereum and even Bitcoin. He also says that Ethereum could outperform Bitcoin with improved regulation and the possibility of offering profits in the DeFi sector.

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Chang Peng Zhao, the former CEO of Binance digital currency exchange, saw his wealth increase dramatically after Donald Trump won the US presidential election. According to Bloomberg, Zhao's net worth increased by $12.1 billion to $52.7 billion within 24 hours. This growth is due to the optimism of digital currency investors regarding Trump's possible policies towards this market.

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In the first meeting of the Federal Reserve Open Market Committee (FOMC) after the US presidential election, the country's central bank cut the interest rate by 25 hundredths of a percentage point, which was in line with the expectations of the market and experts. Bitcoin, usually sensitive to US news, held relatively steady at an all-time high near $77,000. Federal Reserve Chairman Jerome Powell announced the decision based on the country's declining inflation rate and reaffirmed its goal of reaching 2% in the coming months.

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Cynthia Lummis, a Republican senator and a well-known supporter of Bitcoin (BTC), announced in the US Congress that the country plans to create a strategic Bitcoin reserve. Loomis, who is a member of the Senate Banking Committee, has previously spoken about the need for national adoption of Bitcoin.

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With Donald Trump's lead in the US presidential election, the digital currency market has taken an upward trend. Bitcoin reached $75,000, surpassing its previous high in March. Many altcoins also experienced double-digit increases. The total value of the digital currency market has reached 2.6 trillion dollars with a growth of 7%. This increase in prices has led to the loss of trading positions of many short traders.

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Tom Lee, senior director of research at Fundstrat, predicts that the markets will continue to rise until 2025, regardless of the outcome of the US election. He believes that the uncertainty of the elections has made investors reduce their risk and not much liquidity enters the financial markets. Lee emphasizes that economic fundamentals are strong and the Federal Reserve has an expansionary policy. He expects the markets to grow well by the end of the year after the US presidential situation is determined.

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Alex Krüger, the famous economist, announced his scenarios for Bitcoin on the night of the US election. He believes that if Trump wins, the price of Bitcoin will reach $90,000 by the end of the year . If Harris wins, he predicts Bitcoin will first fall and then rise to $65,000. He also announced that if Trump wins, his main strategy will be to buy Solana, which is Ethereum's main competitor. At the time of writing, Solana's price is $165.

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Arthur Hayes, the founder of Bitmex, stated in an interview with YouTube channel Unchained that he has chosen Solana (SOL) as the top altcoin to trade in the run-up to the US presidential election. Hayes believes that Solana will grow along with Bitcoin, describing it as Bitcoin with more growth. He said that Ethereum is old, slow and boring, and predicts that Solana will outperform Bitcoin and Ethereum in the coming bull market.

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Justin Sun, a well-known figure in the digital currency industry and the founder of the Tron platform, presented an interesting perspective on meme coins at the Smartcon conference in Hong Kong. According to this prominent entrepreneur, the remarkable success of memecoins compared to tokens backed by venture capitalists (VC) has two key advantages: a fair supply mechanism and greater transparency in the distribution of tokens.

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