Qualities of a good trader: Know-how, composure and responsiveness

Good knowledge of the market is, first of all, the main quality of a good trader. Among the knowledge to assimilate to know Forex well, are the concepts of Pip, Spread, fundamental and technical analysis. The market is based on numerical fluctuations, so the trader must be strong in mathematics and statistics. This ability allows it to correctly analyze the different graphs. Indeed, due to the reliability of the information they provide, charts constitute a primary working tool for the trader.
At the same time, he must master the different software used in Forex. He must then have solid computer skills. To strengthen his knowledge, the trader can consult numerous books which detail each aspect of Forex. Additionally, many trading platforms offer specialized training. It is imperative to exploit these learning and development resources before attempting a first Forex transaction.
Adopt an investment plan adapted to Forex trends
A good trader always has an investment plan which consists of foreseeing all possible situations. This plan also allows you to choose the type of currency for transactions, the maximum amount of each operation and loss management. This last point is crucial and the trader must know his potential losses at all stages of the transaction. A trader's day must be perfectly planned: analyzing market trends and then launching sell and buy orders.
Responsiveness and concentration, a strength to win in Forex
Responsiveness is another essential quality of the trader because decisions must be made very quickly. It is especially for short-term trading that this quality is required. Indeed, short-term trading consists of carrying out transactions in a few minutes.

Bail release of Sam Bankman-Fried: court categorically refuses request

While Sam Bankman-Fried appealed the revocation of his bail outside his trial, this request was refused. What elements did they tip the scales?

Sam Bankman-Fried will not be released on bail
While Sam Bankman-Fried (SBF) is still trying at all costs to find alternatives to get out of prison, the Court of Appeals for the Second Circuit on Tuesday refused an appeal for his release on bail.
To put the elements in context, while SBF enjoyed months of conditional release at the family home while awaiting his trial, he repeatedly broke the rules set for him. It was on August 11 that Judge Lewis Kaplan finally considered that these discrepancies merited sending the person concerned back behind bars.

The trial has since taken place, and SBF has been found guilty of 7 counts for a maximum sentence of 110 years of incarceration. Sentencing will be pronounced on March 28, 2024.
Until then, the ex-CEO of FTX will remain locked up, the clerk Catherine O'Hagan Wolfe having indicated that the cancellation of the revocation of a conditional release is done "only in the event of a manifest error", which is not the case here.
To support her remarks, she highlighted the two attempts at witness tampering, namely Ryne Miller, the former general counsel of FTX US as well as Caroline Ellison. Faced with this, SBF attempted to defend itself in the name of freedom of expression by invoking the First Amendment to the United States Constitution, an argument which was refused.

While the person concerned believed that less restrictive alternatives to detention had not been considered, this was also rejected:
“The finding of probable cause to believe that defendant-appellant had committed criminal offenses while on pretrial release raised a rebuttable presumption

After his resignation from Binance, how does Changpeng Zhao see his future?

Shortly after announcing his resignation as CEO of Binance, Changpeng Zhao (CZ) shared his thoughts on how he envisions his future. What can we learn from his press release?

Changpeng Zhao looks back on his “post-Binance” future
It will not have escaped anyone closely interested in the cryptocurrency ecosystem, Changpeng Zhao (CZ), CEO and founder of Binance, resigned from his position last night as a direct result of the company's legal woes.

Following these events, the person published a long tweet in which he returned to the promotion of Richard Teng, his successor, but also to the way in which he now saw his future.

CZ insisted on taking responsibility, adopting a tone far from the usual “4”, returning to the difficulty of letting go:

“Today, I resigned as CEO of Binance. Of course, it wasn't easy to let go emotionally. But I know it's the right thing to do. I made mistakes and I have to take responsibility for them. It’s better for our community, for Binance and for myself. Binance is no longer a baby. It's time for me to let him walk and run. »

A future as an investor rather than an entrepreneur?
CZ also explains that he doesn’t see himself returning to a startup CEO position. Of course, it is also a question of placing the elements in their context by emphasizing that given the pressure that the entrepreneur must currently undergo, his speech could evolve in the months to come once the storm has passed.

Changpeng Zhao seems determined to continue playing a role in the Web3 ecosystem, this time focusing on the investment pillar:

“After this, I currently think I will probably make passive investments, as a minority holder of tokens/shares in startups in the areas of blockchain/Web3/DeFi, AI and biotechnology.

CEOs of Coinbase and Kraken rub their hands

The departure of Changpeng Zhao, the CEO and creator of Binance, was a bolt from the blue this week. But the competitors of the world's largest exchange, including Coinbase and Kraken, are rubbing their hands... And inviting the ecosystem to follow the rules of the game.

The Binance affair and the departure of Changpeng Zhao have sparked numerous comments in the ecosystem. Among these, we find, unsurprisingly, the other major CEOs of platforms competing with Binance, who gave their opinion. Brian Armstrong, CEO of Coinbase, and Jesse Powell, CEO of Kraken, both welcomed a decision they believe is right. For Jesse Powell

“The game seems a little more balanced today. These last twelve months have allowed us to answer two fundamental questions […]: how do they manage to move so quickly? And how do they keep it from finding out? »

Prioritize a long-term vision

This sentiment is shared by Brian Armstrong, who also wrote about X. The Coinbase CEO explains that Coinbase's slower progress was due to its compliance with the rules:
“Since the creation of Coinbase, we have favored a long-term vision. […] This meant that we could not move as quickly as the others. […] You can’t release whatever product your customers are asking for when it’s illegal. »
Brian Armstrong also confirms that Coinbase is determined to stay in the United States, despite the difficulties linked to the vague regulation of crypto companies:
“We are going to stay here in the United States, because we believe in economic freedom, and we believe that the democratic system of the United States will eventually find the right path. »

Jesse Powell recalls, however, that the SEC has not finished its campaign against crypto companies, and that it will affect Kraken, Coinbase and the others:
“Kraken, Coinbase and Ripple are easy targets because they are local.

BITCOIN BULL RUN: 70% OF BTC STORED FOR THE BIG DAY

Warm BTC. When investing in Bitcoin, most investors have a long-term goal. Indeed, the latter wish to benefit from the hitherto cyclical developments in the price of Bitcoin. For this, they are ready to keep their precious BTC stored on their wallets for years.

70% OF BTC ARE INACTIVE

In the world of cryptocurrencies, we are familiar with the expression HODL, “Hold On for Dear Life”. However, it would appear that most investors apply this to the letter on Bitcoin.

Indeed, data compiled by Glassnode showed that 70% of BTC had not moved for a year. This is a record, which has just surpassed the previous peak in July at 69%.

When we look at the curve since the launch of Bitcoin, we can see that Holding is an increasingly present trend. Indeed, even during previous bear markets, the number of inactive BTC had never reached these levels.
Nevertheless, this demonstrates strong confidence on the part of investors in Bitcoin. Indeed, a large portion of Bitcoin holders seem to have confidence in the long-term value of the cryptocurrency.
Especially since the recent increases in the price of BTC have given new hope for the potential arrival of a new bull run. So, few investors are inclined to sell before then.

Ledger is the world leader in hardware wallets. A very wide range of products suitable for all uses, from the simple amateur to the most professional. By clicking on this link, benefit from a bonus of $20 in BTC for a Nano S, $30 for a Nano X and $50 for a bundle of both

SAM BANKMAN-FRIED TO REMAIN IN PRISON UNTIL PROCEEDINGS FINISH ON MARCH 28

No, no and no ! The response from the court of appeal was quick, simple and clear: it would be no. Sam Bankman-Fried will remain in detention while awaiting the continuation of the procedure, that is to say the hearing which will determine his sentence, scheduled for March 28. Despite the gesticulations of his lawyers who are trying as best they can to do their job, it seems that the American justice system no longer really trusts the former CEO of FTX and that it wishes to have him on hand, or rather under the locks. Mr. Bankman-Fried will spend the end of the year holidays in prison and there are not many people who pity him. We take a quick look at this latest court decision.

REQUESTS FOR RELEASE OF SBF REFUSED

Difficult to say if the defense team of Sam Bankman-Fried really believed it, but in any case the answer is negative. The court said no to the first request for release pending the hearing on March 28.

She also said no to the request for immediate release pending the response to this present request. Yes, this is all a bit convoluted, but basically the lawyers are making requests for release in all directions hoping that the Court will eventually accept one.

But, on this occasion, it will not have worked. Here is the official response from Clerk of Court Catherine O’Hagan Wolfe:
“We have reviewed Defendant Appellant's additional arguments and find them unpersuasive. After careful consideration, it is hereby ordered that the motion for release pending trial be denied. The request for immediate release pending the decision on this appeal is also denied, as moot. »

US JUSTICE DOES NOT TRUST SAM BANKMAN-FRIED

The document indicates in this regard that Sam Bankman-Fried's past behavior is absolutely not compatible with immediate release.

NIGHTMARE NIGHT FOR KYBERSWAP VICTIM OF $47 MILLION HACK

An eventful end to the year. From January to October 2023, more than a billion dollars were stolen from the crypto ecosystem. A toll that continues to grow with repeated hacks since the beginning of October. Today, the KyberSwap exchange protocol was the target of a hack.
KYBERSWAP HACK: 47 MILLION DOLLARS STOLEN
During the night from Wednesday to Thursday, an Internet user alerted on X (Twitter) that an attack was in progress on KyberSwap. Unfortunately, the attacker targets multiple instances of the protocol on different chains.

The damage was quickly estimated at more than $47 million. The hacker stole 7.5 million from Ethereum, 15 million from OP Mainnet, 20 million from Arbitrum, 2 million from Polygon and a few hundred thousand dollars from Base.
Theft is made up of ETH and various variants such as wstETH, wETH, cbETH. There are also L2 tokens like ARB and OP as well as stablecoins.
Finally, less than an hour after this first alert, the KyberSwap teams confirmed the news about X.
We learn that it was the KyberSwap Elastic pools that were targeted by the hacker. As a reminder, KyberSwap Elastic is an advanced version of KyberSwap Classic AMM.
“KyberSwap Elastic builds on the capital amplification capabilities of its Classic counterpart by incorporating emerging concepts of concentrated liquidity popularized by Uniswap V3. By merging the benefits of each, KyberSwap Elastic allows liquidity providers to determine their preferred liquidity price ranges while maximizing returns through greater capital efficiency as well as automatic yield compounding. »

PROGRESS OF THE ATTACK
Hours after this event, researchers at BlocSec published a concise explanation of the attack on
So, it appears that KyberSwap was exploited due to tick manipulation and double counting

IS THE BINANCE CASE LINKED TO AN IMMINENT APPROVAL OF BITCOIN SPOT ETFs?

Impeccable timing? Barely has the leader Binance been attached to a leash by the United States justice system when analyzes rain down to define the future. A future visibly without Changpeng Zhao (CZ) to liven up social media… at least on behalf of this exchange. And according to some, a possible official kickoff towards long-awaited approval of Bitcoin ETFs by traditional financial markets. An almost (too) perfect sequence which ends up raising some questions. Was it necessary to take regulatory control of Binance to hope for approval of spot Bitcoin ETFs?

BINANCE VS ETF BITCOIN SPOT
Often, predictions prove unfounded when put to the test of time. But in some cases, the calendar is more lenient regarding certain anticipated analyses. Obviously this does not validate the content. Even if the facts seem to support a series of factors exposed a few months earlier.
A perilous style exercise which has nevertheless just brought together two emblematic events in the cryptocurrency sector. On the one hand, the rather spectacular announcement of the settlement – ​​more financial than legal – of the dispute between the United States justice system and the Binance platform. With the key being a check for $4.3 billion that will go down in the annals of the crypto sector. And on the other, an approval of spot Bitcoin ETFs which seems to drag on for no real plausible reason. Except for the inertia assumed by some as voluntary by the head of the SEC, Gary Gensler.

Binance vs Spot Bitcoin ETF

Binance fined $4.3 billion
Take these two explosive ingredients and shake up Network

Will Bitcoin Halving in 2024 Create a New All-Time High?

The future of bitcoin is more than ever filled with uncertainty and anticipation. In 2024, the crypto community eagerly awaits the halving, a periodic event with profound consequences for this revolutionary digital currency. In this article, we will delve into the issues surrounding this looming divide, while exploring the factors that could propel bitcoin to new highs.

Factors favoring an upward trend in 2024
Division by two

Bitcoin has several features written into its code, aimed at limiting the total supply to a maximum of 21 million bitcoins (BTC). Two of the most crucial aspects of bitcoin are its fixed supply and the periodic reduction in block rewards, which occurs approximately every four years. This periodic decrease in the quantity of newly issued bitcoins is commonly called halving (halving) of bitcoin as presented by ABC Bourse.

As presented above, bitcoin has experienced three split phases: the first in November 2012, reducing the block reward from 50 bitcoins to 25 bitcoins. In July 2016
a second reduction took place, bringing the reward from 25 bitcoins to 12.5 bitcoins. Finally, in May 2020, the third halving was implemented, reducing block rewards from 12.5 bitcoins to 6.25 bitcoins.

Does the halving impact the price of bitcoin?

Mincing bitcoin halves rewards, promoting healthy, sustainable growth by limiting the supply of new bitcoins. This strategy can maintain its value over time.

Some analysts, as BFM points out, believe that halving will lead to a significant increase in the price of bitcoin (to $180,000 by April 2024), because the fall in the inflation rate will boost demand and value. Others believe that the market has already anticipated this reduction and that it will have no impact

Halving: major event for Bitcoin in 2024?

Bitcoin news is constantly buzzing, with periodic events that captivate the attention of investors and enthusiasts. If currently much attention seems to be focused on the upcoming arrival of a possible BTC ETF, another key moment, which is certain, is called halving. But what does this mean?

What is halving?
Halving, or “halving,” is an event intrinsic to the Bitcoin protocol. It occurs every four years, or approximately every 210,000 blocks mined. The next halving should therefore take place during April 2024.

The initial goal of the halving is to limit the total supply of Bitcoin, setting it at 21 million units. Concretely, halving halves the reward that miners receive for each block added to the blockchain.
In 2009, the reward awarded for each block mined on the Bitcoin chain was 50 bitcoins. Following the first halving, this reward was reduced to 25 bitcoins, then to 12.5 bitcoins, before stabilizing at 6.25 bitcoins per block from May 11, 2020. It will therefore be 3.125 bitcoins per block from the next Halving.
This programmed scarcity aims to emulate the scarcity of precious metals like gold. The halving is therefore:
💪 an essential building block of the anti-inflationary nature of Bitcoin, thus giving the cryptocurrency store-of-value characteristics.
This therefore contrasts sharply with traditional monetary systems, where central banks can issue new currencies at will and as they see fit.

Binance agrees to $4.3 billion penalty and withdrawal from US market, CZ withdraws

As part of a comprehensive agreement with the US Department of Justice (DOJ), cryptocurrency exchange Binance has agreed to delist trading pairs and prepare for a complete withdrawal from the US market. This decision, which was made public on Tuesday, involves a substantial penalty of $4.3 billion. To make matters worse, Changpeng Zhao (CZ), the CEO of Binance, resigned from his leadership position following his guilty plea to operating without a license and conspiracy.
CZ faces an individual fine of $50 million and a prison term of up to 18 months. Sentencing is scheduled for February 23, although there is a possibility of a delay. Although he has relinquished his management duties, CZ retains his stake in the company. As he leaves his role at Binance, CZ expressed his desire to move beyond this difficult period.
To ensure compliance in the future, a five-year oversight body will oversee the company's activities and the Treasury will have full access to Binance data. This legal settlement marks a significant change in the regulatory landscape for cryptocurrency exchanges operating in the United States and could have significant implications for the industry.

Bitcoin Holds Above $37,000 as Binance Settlement Negotiations Drive Market

The global cryptocurrency market capitalization continued its upward trajectory, reaching $1.42 trillion, with bitcoin showing resilience by holding above the $37,000 mark. This stability comes amid positive market reactions to news of ongoing discussions between Binance and the US Securities and Exchange Commission (SEC), which are seen as a potential turning point for regulatory clarity in the cryptocurrency sector.
Notable political figure RFK Jr recently expressed his support for Bitcoin, highlighting its role in challenging traditional banking systems and promoting individual freedom. His pro-bitcoin stance could not only influence bitcoin prices, but also his future presidential campaign, signaling a growing intersection between cryptocurrency advocacy and electoral politics.
Bitcoin price currently sits at $37,240, between immediate resistance at $37,574 and significant support at $36,342. The Relative Strength Index (RSI) sits at 58, indicating that there is still room for price growth before the market reaches overbought conditions.
Investors and market observers are closely following developments regarding the legal status of Changpeng "CZ" Zhao, CEO of Binance, and the Department of Justice's (DOJ) anticipated $4 billion settlement regarding allegations at against Binance. These events are expected to have significant consequences for the stability and price developments in the cryptocurrency sector.

Bitcoin derailed as Binance gets kicked out of the United States, CZ in prison?

Binance pays a fine of more than $4 billion, CZ resigns, the platform will disappear from the United States
Regarding the reasons for this decline, it should be noted that it directly responds to the announcement of a settlement of 4.3 billion dollars in the context of legal proceedings initiated in the United States against the crypto platform Binance for money laundering. money and violations of securities laws.
However, it is not this regulation that has weighed on Bitcoin and other cryptos, but rather the fact that the agreement between Binance and the DoJ implies that the crypto platform must completely exit the US market, and that its CEO Changpeng Zhao (CZ) resigns as CEO.
Furthermore, CZ remains prosecuted in his personal capacity, although he was released on bail in the amount of 175 million dollars, for a judgment scheduled for February. It is therefore not excluded that CZ ends up in prison for a more or less long period, although an amicable settlement is also possible, as was the case for Arthur Hayes, former boss of BitMex, in a similar case.
However, it must be remembered that Binance is the largest crypto platform in the world in terms of trading volume, and is therefore of “systemic importance” on the scale of the cryptocurrency market, which explains the clear reaction of the market .
We will also recall that yesterday was also the occasion for the announcement of proceedings by the SEC, the US stock market watchdog, against Kraken, the third crypto platform in the world, confirming that regulators have every intention of continue to put obstacles in the way of the development of the digital assets market.
Technical thresholds to watch for Bitcoin in the short term
From a technical point of view, we note that although the return of BTC below $37,000 weakened the positive bias, it did not cancel the uptrend, as seen on the daily chart below.

Binance agrees to pay $8.7 billion in penalties and leaves the US market

As part of a broad regulatory crackdown, cryptocurrency exchange Binance has agreed to pay a total of $8.7 billion to various US regulators and will cease trading in the US market. The settlements include $3.4 billion to the Financial Crimes Enforcement Network (FinCEN), $968 million to the Office of Foreign Assets Control (OFAC), and a major $4.3 billion settlement with the Department of Justice (DOJ).
Binance's actions leading to these penalties include violations of the Bank Secrecy Act, violations of sanctions programs, and inadequate adherence to know-your-customer practices. ). These breaches have allowed sanctioned entities and cybercriminals to use the platform for illicit activities, posing risks to the integrity of the U.S. financial system.
As part of the settlement agreements announced today, Binance will appoint a compliance monitor for five years and its CEO, Changpeng Zhao, will step down from his position. Despite this major change for Binance, its US subsidiary Binance.US, operated by BAM Trading Services and registered as a money services business, will not be affected by the parent company's withdrawal from the US market.
Treasury Secretary Janet Yellen stressed the seriousness of the enforcement action, saying it was unprecedented and highlighted the commitment of U.S. regulators to holding financial institutions accountable. She insisted that cryptocurrency exchanges must operate within regulatory frameworks that safeguard national security interests and contribute positively to the financial system.

Dogecoin maintains its place at the top of the cryptocurrency market thanks to celebrity influence

 Dogecoin has cemented its place in the upper echelons of the cryptocurrency market, not only due to its meme-inspired beginnings, but also thanks to significant celebrity endorsements, including those from tech mogul Elon Musk. Since its creation in December 2013 by software engineers Billy Markus and Jackson Palmer, the digital currency emblazoned with the Shiba Inu emblem has gained traction thanks to a strong community and philanthropic efforts that have bolstered its reputation.
The currency's journey has been marked by rapid adoption, driven by its low transaction fees and user-friendly approach. Notably, Musk's frequent comments on Twitter (NYSE:TWTR) have influenced Dogecoin's valuation over time, while other celebrities like MicroStrategy CEO Michael Saylor have also shaped the public's perception of it. cryptocurrencies. These high-profile influences contribute to Dogecoin's unpredictable financial trajectory, although it consistently remains among the top ten cryptocurrencies according to market sentiment.
In addition to its celebrity-related popularity, Dogecoin has found practical use in the online gaming industry. Its efficient processing times and privacy benefits have made it a preferred payment method on many online gaming platforms. This widespread acceptance highlights Dogecoin's ability to facilitate rapid transactions, which is particularly attractive to the online gaming community.
Despite potential legislative changes that could affect the crypto market as a whole and Musk's withdrawal from active promotion of Dogecoin due to his engagements with SpaceX, historical models suggest that Dogecoin could continue to establish itself in the ranks of major digital currencies.

F2Pool accused of censoring OFAC-sanctioned bitcoin transactions

Recent findings suggest that F2Pool, a leading Bitcoin mining pool, may selectively censor transactions sanctioned by the Office of Foreign Assets Control (OFAC), although these transactions offer competitive network fees. This behavior could be a sign of a worrying trend toward centralization within the Bitcoin network.
Investigations into F2Pool activities reveal that as of Sunday, blocks numbered 810727, 811791, 811920 and 813357 did not contain any OFAC-sanctioned transactions. Developer 0xB10C reported these findings after monitoring transaction selections via miningpool. observe. Evidence indicates that F2Pool deliberately chose to exclude these transactions, which contrasts with other mining pools where similar patterns were identified but were later attributed to false positives.
Concerns about F2Pool's practices stem from increasing regulatory pressure on cryptocurrency entities to comply with know-your-customer (KYC) and anti-money laundering (AML) guidelines . As regulatory scrutiny intensifies, some in the industry fear the decentralized ethos of cryptocurrencies could be at risk if major players such as mining pools begin acting as gatekeepers, deciding which transactions are included on the blockchain .
Mempool space rankings. have confirmed a trend toward centralization, raising questions about the implications for the broader Bitcoin ecosystem. If these trends continue, they could potentially undermine the principles of trust and censorship resistance that underpin bitcoin and other cryptocurrencies.

Growth in Ethereum Wallets Signals Bullish Market Sentiment

The cryptocurrency Ethereum has recently shown significant signs of bullish market sentiment, with key metrics indicating increased investor interest and potential price momentum. According to data from analytics firm Santiment, top Ethereum wallet holders have significantly increased their holdings, collectively adding more than $124 billion worth of Ether to their wallets.
This accumulation by large investors is accompanied by a decrease in the supply of ETH on the stock markets, which has fallen by almost 20% over the last six months. This suggests that more and more holders are moving their Ether off exchanges, potentially to hold it for the long term, thereby reducing the supply available for trading and possibly putting upward pressure on prices.
Further reinforcing this positive outlook is a report from IntoTheBlock, which highlights an increase in active and new Ethereum addresses over the past week. This increase in engagement in the Ethereum network corresponds to a spike in new Ethereum wallets, which reached 94,700 on Tuesday. This level of activity has not been seen since July, when the price of Ethereum began to rise.
Additionally, Ethereum recently surpassed an important psychological threshold by crossing the $2,000 mark. Traders and investors are now watching closely to see if it can reach or surpass the high of $2,200 reached in May.
These developments reflect growing confidence in Ethereum's market position, as it continues to attract new users and investments. With many indicators pointing towards a bullish trend, the Ethereum community and potential investors are closely monitoring the next market movements.

Binance CEO resigns following DOJ settlement, FTX token recovers while BNB falls.

Changpeng Zhao, CEO of Binance, has resigned following a settlement with the US Department of Justice (DOJ), in a significant development for the cryptocurrency market. This change in direction had an immediate impact on the market, with FTX's token, FTT, seeing a sharp rise in value, while Binance's token, BNB, saw a sharp decline.
On the day of Zhao's resignation, FTT saw its price jump 42% to $4.26, as reported by CoinMarketCap. This rally is particularly notable given FTT's limited utility, but demonstrates strong institutional interest despite the token's association with FTX's past bankruptcy issues. Earlier this month, FTT hit a year-to-date high of $4.3, suggesting robust recovery momentum following last year's collapse and growing investor optimism about the potential launch of a new version of the exchange platform.
Conversely, Binance's BNB token saw a slowdown, falling 13% to $235 according to Santiment. The day before Zhao announced his departure on Twitter (NYSE:TWTR) and took personal responsibility for his actions, BNB was already under pressure with a liquidation of $3.73 million in long positions and an increase of 68 % of options activity volume. Furthermore, the value of bitcoin dropped to $36,344.38.

According to BKCM CEO, bitcoin could see its value increase tenfold if the gold market changes

Brian Kelly, CEO of BKCM, expressed a bullish outlook for bitcoin on CNBC today in an interview with CNBC Money, suggesting that the cryptocurrency could potentially see a tenfold increase in value if it begins to gain traction. part of the market share of gold. His comments come as the crypto community anticipates April's bitcoin halving event, which is expected to reduce bitcoin supply and strengthen investor sentiment.
Mr. Kelly highlighted several factors that could contribute to the growth of bitcoin. Among them is the possibility that the Federal Reserve will limit interest rate hikes to around 5.5%, which could positively influence investors' outlook toward riskier assets like cryptocurrencies. He also noted that financial giants such as Morgan Stanley (NYSE:MS) were going to file for exchange-traded funds (ETFs) in the bitcoin spot market, which could make it easier for individual investors and advisors to access .
Drawing parallels between the proposed bitcoin ETFs and those that already exist for gold, Mr. Kelly highlighted the utility of online bitcoin compared to traditional gold investments. This technological advantage, he says, positions bitcoin favorably as an inflation hedge and a key digital asset in investment portfolios.
Despite the recent volatility in the price of bitcoin, which fell to $36,203, a decline of 3.5%, Mr. Kelly remains optimistic about its future role in financial markets. With bitcoin's current market cap at $700 billion, compared to gold's $7-8 trillion, even a slight shift in investment from gold to bitcoin could result in a significant rise in the cryptocurrency's value.

VALR dominates the African cryptocurrency market with new futures contracts and leverage options

VALR, Africa’s leading cryptocurrency exchange, has introduced innovative financial instruments to its platform, including perpetual futures contracts on Bitcoin and Tether (USDT) paired with the South African Rand (ZAR). These additions, which include the BTC/USDT pair, are important for traders because they have no expiration date and offer up to five times leverage.
Gianluca Sacco, Chief Operating Officer, praised the platform's integrated trading ecosystem, which combines spot, margin and futures markets using a single source of collateral. This development follows the exchange's success in spot margin trading and a collaboration with Visa (NYSE:V).
VALR's growth is further highlighted by its recent European regulatory approval and continued licensing in Mauritius and Dubai, having already received a preliminary boost from the Virtual Assets Regulatory Authority (VARA) in Dubai. Founded in 2018, VALR has reached over $10 billion in trading volume and boasts a strong customer base with over 500,000 retail clients and over 900 institutional partners.
The exchange also secured $55 million in crowdfunding from high-profile investors such as Coinbase (NASDAQ:COIN) Ventures and Pantera Capital. Operating as VALR DAM Proprietary Limited, it is licensed by Prime Asset Managers in South Africa and hopes to expand its services through a mobile application.
CEO Farzam Ehsani highlighted the positive reactions from institutions, which positions VALR as a strong competitor on the global stock market scene.