Hayes, confident in his trading abilities, plans to capitalize on the imminent correction by attempting to “top-tick” the market in late February.
Bitcoin mining firms have been racing to expand their businesses ahead of an expected approval of a spot Bitcoin ETF.
Nearly 28K Bitcoins have been deposited in crypto exchanges in the past week led by BTC miners thus signaling possible price correction in the short term.
Some institutions are hesitant to buy Bitcoin directly due to challenges in the crypto markets, such as security risks and regulatory uncertainty. BTC DRs aim to address these concerns.
Kiyosaki’s Bitcoin recommendation comes amid a high level of confidence that the US SEC will soon begin approving spot Bitcoin ETFs.
The Fed rate cuts could lead to monetary easing allowing fresh funds to flow into risk-on assets such as Bitcoin and other cryptocurrencies.
Bitcoin miners are preparing for this year’s 50 percent reduction in block reward by updating their mining hardware and software as experts predict significant profits by EOY.
The Matrixport founder believes that, in the long run, BTC will maintain its position as a store of value and a risk-hedging asset, surpassing gold.
On January 2, Bitcoin hit $45,000, which was the highest level it had reached since April 2022.
JAN3 founder Samson Mow has said that companies that issue spot Bitcoin ETFs should provide on-chain addresses to prove their Bitcoin reserves.
Today Bitcoin is widely accepted in the United States, the United Kingdom, Asia-Pacific nations such as Hong Kong, Singapore, Thailand, the Middle East, and some European markets.
As per his share sale plan, Michael Saylor will be selling 5,000 MSTR stocks daily over the next four months to raise MicroStrategy’s Bitcoin holdings.
The Mad Money host described the recent Bitcoin rally above $45K as a remarkable comeback that was unexpected.
The US SEC would still need time to review all the changes made to the Bitcoin ETF S-1 filings submitted last week, only after which it could make certain decisions.
On December 28, the company announced that its fleet of 3,750 Bitcoin ASIC miners, purchased last year, had already generated profits due to the surge in the coin’s price.