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ELISABETH SPARKLES
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ELISABETH SPARKLES
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#TOTAL2 Powerful altseason in 2020 emerged after formed cup & handle pattern and pinbar above the broken neckline🤔 In 2024 we have similar pattern with pinbar formed this week👨💻 Altseason from tomorrow?👀
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🚨 Bitcoin Soars to Record High Above $106K, Then Retreats as Hawkish Fed Rate Cut Looms Bitcoin ($BTC ) briefly soared to over $106,000, setting a new all-time high, before dipping back to around $104,500 amid concerns about the upcoming U.S. Federal Reserve (Fed) rate cut. The Fed is expected to lower the benchmark borrowing rate by 25 basis points, totaling a 100 basis point easing since September. However, there are worries that the Fed's accompanying commentary may temper expectations for further rate cuts, potentially dampening the bullish effect of the announcement. The Fed will reveal its rate decision, projections, and economic forecasts on December 18, followed by a press conference with Fed Chair Jerome Powell. Analysts predict that the Fed may adjust its projections for future cuts due to a stronger economy and persistent inflation. Despite potential challenges from a "hawkish" cut, seasonal trends are favorable for Bitcoin, and positive regulatory signals from President-elect Trump could mitigate short-term impacts. Additionally, ongoing rate cuts from the Fed and expected easing from China support Bitcoin's bullish outlook. Later this week, markets will also receive the core PCE reading, which may indicate whether recent inflation increases are temporary or signify a broader trend.
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#BTC☀ $BTC
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🚨 Vancouver City Council Passes pro-bitcoin Motion Citing Fiat Challenges Vancouver's city council has approved a motion to explore accepting bitcoin ($BTC ) for tax and fee payments and to establish a bitcoin reserve. Proposed by Mayor Ken Sim, the motion aims to diversify the city's financial reserves and payment options to enhance financial stability. City staff are tasked with reporting on the feasibility of a "bitcoin-friendly city" strategy by the end of Q1 2025. This marks a notable shift from previous policy, as former Mayor Kennedy Stewart had sought to ban bitcoin ATMs in 2019. Vancouver is also notable for being the childhood home of former Binance CEO Changpeng 'CZ' Zhao and the headquarters of the failed crypto exchange QuadrigaCX.
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Bitcoin's recent price correction has been linked to the announcement of Google's Willow quantum computer, which some believe could threaten cryptocurrency security. However, experts refute this notion, stating that: - Google's Willow chip has only 105 qubits, far below the estimated 13 million qubits needed to compromise Bitcoin's encryption. - Bitcoin developers are already working on making the cryptocurrency quantum-safe. - If quantum computing becomes a viable threat to Bitcoin, traditional banking systems would also be at risk. - For Willow to pose a real threat, it would need to be affordable and widely accessible, which is unlikely given the current market, as seen with the availability of NVIDIA's H200.
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