Unlicensed cryptocurrency platforms will not be allowed to operate in Hong Kong starting next June, according to the Securities and Futures Commission (SFC). The commission closed the period for these institutions to introduce their applications to obtain a license on February 29 and will progressively expel the noncompliant exchanges from the Hong Kong market. Hong […]
Bitcoin News
Robert Kiyosaki: Our Leaders Will Drive Us Into Depression, War — Reiterates Bitcoin Buy Recommendation
Rich Dad Poor Dad author Robert Kiyosaki has warned that our leaders will drive the U.S. economy into an economic depression and a war. The famous author has reiterated his recommendation to buy bitcoin amid high anticipation of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs).
Robert Kiyosaki on Depression and War
The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned that our leaders will drive us into an economic depression and a war. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
He explained on social media platform X Saturday that the “Definition of insanity is doing the same thing over and over again and expecting things to change.” He emphasized, “Our leaders, the 3 Stooges Biden as President, Yellen as Treasury Secretary and Powell as Fed Chairman, are doing us a favor,” warning:
They will drive us into Depression and War. Don’t be the fourth Stooge. Buy gold, silver, and bitcoin. Time to get smarter and get richer.
Kiyosaki has repeatedly expressed concern about the potential for significant economic turmoil in the near future. In December 2023, he warned that the next crash may turn into a depression. He also raised concerns about a giant market collapse, a war, and really hard times ahead for millions of people. Moreover, Kiyosaki recommends preparing for hyperinflation and suggests bitcoin as a potential safeguard against these economic challenges.
The renowned author has advised investors to buy gold, silver, and bitcoin for quite some time. He even recommended buying bitcoin exchange-traded funds (ETFs) which the Securities and Exchange Commission (SEC) could soon approve. In November last year, Kiyosaki urged investors to get into BTC now, “before it’s too late.” He stressed that bitcoin provides lifelong financial security and freedom, predicting that BTC is headed for 5,000 and will become priceless when the Federal Reserve launches a central bank digital currency (CBDC).
What do you think about the warnings by Rich Dad Poor Dad author Robert Kiyosaki? Let us know in the comments section below.
Bitcoin Eyes New Highs As Bloomberg Analyst Reiterates 90% Chance Of January ETF Approval
Bitcoin (BTC), the leading cryptocurrency, is currently in an upward accumulation phase, inching closer to surpassing its current yearly high of ,390.
This upward trend is further fueled by the anticipation surrounding the approval of Bitcoin spot exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC).
Bitcoin ETF Approval By January 10
In a recent post on X (formerly Twitter), Erich Balchunas, a Bloomberg ETF expert, shared his perspective on the probability of Bitcoin ETF approval. Balchunas maintains a 90% chance of SEC approval by January 10, which has remained consistent for months.
Balchunas highlights that while debates over specific dates and timelines persist, the SEC and issuers are diligently working behind the scenes to make ETFs ready for this cycle, defying earlier skepticism. Balchunas stated:
People asking me if we changed odds. No, we still holding line at 90% odds of approval by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe). What we watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates
As predicted by many analysts, Bitcoin is poised for a potential breakout in the upcoming months, both before and after these investment products’ anticipated approval. As reported by NewsBTC, Bitcoin could surge to as high as ,000 even before the halving event forecasted for April.
In this context, Bitcoin must maintain its position above the key support level of ,000. This mark serves as a threshold for future gains, both preceding and succeeding the approval of spot ETFs.
Upholding this support level will be instrumental in determining Bitcoin’s prospects for continued growth and market performance.
Next Resistance Level Holds Key To Surpassing All-Time High
Renowned crypto analyst Crypto Con has shed light on the remarkable strength of the current Bitcoin cycle, drawing comparisons to the previous from 2019 to 2022.
By examining key resistance levels and price movements, Crypto Con emphasizes the positive outlook for Bitcoin’s price trajectory and suggests that the current cycle is poised for success.
Crypto Con highlights the prolonged weakness observed during the 2019-2022 Bitcoin cycle, characterized by Bitcoin’s struggle to surpass the initial Wave Trend resistance over a year.
In contrast, the current cycle has demonstrated impressive resilience, effortlessly breaking through this resistance level.
Despite the substantial rise in Bitcoin’s price, Crypto Con points out that the cryptocurrency has yet to reach the next resistance level, called green zone 2, with a price target of ,000.
In a typical cycle, this milestone does not indicate the end of price action but rather marks the beginning of a more significant upward trajectory.
Crypto Con further suggests that subsequent resistance levels, indicated by the color blue in the chart above, can drive Bitcoin’s price even higher, surpassing its previous all-time high.
At the time of writing, BTC is trading at ,700, down 0.7% over the past 24 hours, and it remains to be seen if a consolidation above ,000 will occur.
Featured image from Shutterstock, chart from TradingView.com
Dogecoin Price Jumps As Elon Musk Reiterates Support For Meme Crypto At Qatar Forum
Dogecoin, one of the most popular parody coins in the crypto market, is on a tear today. The crypto was up 13% at the time of publication. The move comes as Tesla CEO Elon Musk repeated his support for cryptocurrency on Tuesday at the Qatar Economic Forum in Doha.
Musk stated at the Qatar Economic Forum that he buys and backs it because people “who are not that wealthy” have requested him to, according to Bloomberg News.
Suggested Reading | Celsius (CEL) Price Scorches To 130% Rally Despite Frozen Network Accounts
Dogecoin Gets Some Love From Musk
Musk remarked during the forum in an interview with Bloomberg News Editor-in-Chief John Micklethwait:
“I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin. I’m responding to those people.”
The coin began as a joke in 2013, but quickly grew into a major cryptocurrency thanks to a committed community and inventive memes.
Dogecoin is vulnerable to devaluation since there is no restriction on the number of DOGE units that may be created, unlike other cryptos.
In 2017, the price of Dogecoin was .0003. By June 1, 2022, its price had risen about 40,000% to .10. According to Coingecko data, DOGE is currently trading at .063348, up over 14 percent as of this writing.
Musk also stated that his staff had requested that he promote the coin. “They urged me to endorse Dogecoin, and I am,” the billionaire explained.
In addition to Dogecoin, the SpaceX founder has indicated support for other cryptocurrencies. Musk said in October that he owns Bitcoin, Ether, and DOGE.
DOGE total market cap at .5 billion on the weekend chart | Source: TradingView.com
Musk Social Media Comments Move DOGE
Dogecoin frequently varies in response to Musk’s comments on it. On Monday, it rose 8.5 percent in a 24-hour period from near-record lows after the CEO stated that he will continue to promote and buy the meme token in the face of a large cryptocurrency sell-off.
The dog-themed currency plummeted in May of last year after Musk called it a “hustle” on Saturday Night Live.
Musk has recently stated that Dogecoin might compete with Bitcoin and be used for payments. Tesla stated in January that it would begin accepting Dogecoin payments for some products, implying that more could be added “down the line.”
Musk was sued for 8 billion last week by a Dogecoin investor who claimed the tycoon was involved in a “pyramid scheme through pushing Dogecoin cryptocurrency.”
Meanwhile, Musk intimated last week that if his attempt to buy Twitter is successful, cryptocurrency payments will be integrated into the platform.
Suggested Reading | Shiba Inu Now The Largest ETH Whales’ Holding Despite Crypto Market Turmoil
Featured image from NDTV Gadgets 360, chart from TradingView.com
NewsBTC
Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic
Cardano (ADA) has been experiencing struggling prices since it hit its all-time high above back at the start of September. Since then, it has been on a downward trend and had fallen below for the first time as October drew to a close. Despite some important announcements and strides on the part of the project, the token has not seen much recovery, leading to panic among its holders.
In light of this, founder Charles Hoskinson once again took to YouTube to address those whom he thinks are too overly concerned about price rather than the technology. This will not be the first time that the mathematician has had to address price concerns from the community.
Related Reading | Cardano Founder Says Metaverse Is Important For Crypto
A week ago, Hoskison had also taken to his YouTube channel to address price speculations, mentioning that money was not the purpose of Cardano. Rather the benefit of the blockchain to humanity was the goal.
Hoskinson Calls For Calm
In his YouTube video, the Cardano founder asked the community to calm down when it comes to the price of the digital asset. There have no doubt been sell-offs happening in relation to the cryptocurrency but this is normal for any asset really. Investors will get to a point where they sell off some of their holdings to take gains. The founder asked people who were in a panic over this sell-off to “chill out”.
ADA low momentum continues | Source: ADAUSD on TradingView.com
The founder pointed to the notion of price discovery given the performance of coins like Dogecoin and Shiba Int which have no utility whatsoever, yet have seen tremendous growth. He calls for people to forego the notion of price discovery and instead focus on the impact of the project.
Mostly, Hoskinson pointed to newcomers who have mainly been the ones panicking when it comes to price. He explains that people like these are obsessed with price and “there seems to be an utter lack of perspective.”
Cardano Looking To The Future
For the older investors in the project, most had gotten into Cardano for the impact that they knew the blockchain could have and Hoskison has echoed that sentiment. Instead of looking at price, the founder prompted the community to look towards the future, towards what Cardano could mean for the world someday.
Related Reading | Cardano Leads Altcoins As Market Marks 13th Consecutive Week Of Inflows
For Hoskinson, Cardano goes beyond making money through investing in the token. He sees the project being an important part of the backend of nation-states and payment solutions going forward.
“If you look at a five-year, a 10-year, a 15-year, a 20-year package, we really feel that there’s a strong possibility Cardano could be the backend of many nation-states,” said Hoskinson.
Also, the founder explained that there is no way to accurately predict what Cardano would be worth once it reaches its full potential. However, Hoskinson sees Cardano as being “the biggest preserver of human rights the world has seen.”
Featured image from Binance Academy, chart from TradingView.com
NewsBTC
Cathie Wood Reiterates $500K Bitcoin Call, Reveals Ethereum Rebalancing
Ark Invest’s chief executive officer and chief investment office Cathie Wood, is backing up her bold claim that Bitcoin will reach 0,000. In the same interview, Wood revealed her firm’s increasing confidence in Ethereum following the 2.0 update, along with potential plans to rebalance between the two top cryptocurrencies.
Ark Invest’s Cathie Wood On Rebalancing Bitcoin And Ethereum Portfolio
Ark Invest CEO Cathie Wood is an important figure in the crypto space, recently even joining Jack Dorsey and Elon Musk in the B-Word debate. As the chief investment officer of her firm, any calls she makes are especially notable.
Related Reading | Ethereum “Accumulation” Nears Liftoff Phase: Could A Flippening Occur?
In the past, she’s speculated that Bitcoin would reach 0,000. And at the recent SALT Conference, Wood reiterated the call to CNBC anchor Andrew Ross Sorkin.
The prediction depends on institutions allocating just 5% of their total portfolios to Bitcoin. Should that occur, Wood believes “that the price will be tenfold of where it is today,” she said. “So instead of ,000, over 0,000.”
What 0K BTC looks like | Source: BLX on TradingView.com
Wood said if she could choose only one cryptocurrency, it would default to Bitcoin, but then praised Ethereum for its recent growth.
Related Reading | Return of Darth Maul: BTC Pumps And Dumps In 5% Shakeout
“Our confidence in ether has gone up dramatically as we’ve seen the beginning of this transition from proof of work to proof of stake,” Wood said. However, the Ark CEO said that the firm would “probably do 60% bitcoin, 40% ether” in the future, keeping the portfolio’s focus on BTC.
Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com
NewsBTC
South Korean Finance Minister Reiterates Stance: No Ban
South Korea’s finance minister Kim Dong-Yeon has said that the government has no plans to shut down or ban cryptocurrency trading. The news is a welcome respite for investors worried that authorities might go as far as China in out-right banning cryptocurrency trading and investment platforms.
“There is no intention to ban or suppress cryptocurrency,” Dong-yeon said in a statement reported by Reuters. He added that the government’s immediate task is to regulate exchanges.
The comment from the Finance Minister comes as traders and investors around the world have been spooked by conflicting comments from government officials in South Korea — a major global hub for cryptocurrencies — about whether the country was planning to ban exchanges, something originally proposed by the country’s Justice Ministry. Over the past few weeks, government officials from several different ministries have come out in both support of and opposition to the potential ban.
On the same day of proposing it, in fact, the Justice Ministry was forced to soften its stance (that of an out-right ban), which many argue was unlikely to succeed from the beginning. It found little support from other governmental ministries, including the Ministry of Finance which refused to endorse a ban on cryptocurrency trading and exchanges.
In a public radio interview this month, Korea’s Fair Trade Commission chairman Kim Sang-joo also disputed the very notion of a ban, effectively stating it would be illegal for the government to enforce such measures. “[Shutting down cryptocurrency exchanges] is not realistically possible. Based on electronic commerce law, the government does not have the authority to close down cryptocurrency trading platforms.”
All these conflicting statements provoked an industry backlash, which led to the Executive Office of the President weighing in on the matter in attempts to cool fears of a blanket ban. The industry was right to have worries, as Korea notably followed China’s example in introducing bans initial coin offerings (ICOs) earlier this year.
South Korea has been at the forefront of pushing for broad regulatory oversight of cryptocurrency trading, as many locals, from students to housewives, jumped into a frenzied market despite warnings from some policymakers around the world of a cryptocurrency bubble.
The post South Korean Finance Minister Reiterates Stance: No Ban appeared first on NewsBTC.
RBI Reiterates Warning Against Virtual Currencies for Third Time
n Indians seems to really like Bitcoin, but the government cant figure out how to treat the currency central bank warns on risks of digital currency again.n
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