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Swiss lawmaker declares: "Switzerland needs a strategic reserve of bitcoins! We have a temporary window to be faster than the USA and BRICS, but it is quickly closing."
It seems that no one is talking about the fact that the price of XRP was artificially undervalued all this time. She was restrained by the SEC and Gary Gensler. If it weren't for their lawsuits, XRP would have reached $2 and even more a long time ago.
So this growth is NOT madness, but just the normalization of the price of this asset.
Altcoin season in this cycle, it seems, is no longer determined by the rotation of capital from Bitcoin (as it was in previous cycles). Well, you remember: bitcoin -> ether -> large caps -> small caps, etc.
But now we see a completely different picture.
A sharp increase in the trading volume of altcoins does not occur in pairs against Bitcoin, but in pairs against stablecoins and fiat, which tells us that this is a REAL GROWTH of the market, and not just a rotation of money from Bitcoin to altcoins.
TRUMP: "Bitcoin and cryptocurrency will develop our economy, strengthen America's financial dominance and strengthen our entire country for many years to come."
The world is covered by a tsunami of cryptoregulation, and this is only the beginning.
A list of the main changes in the regulation of cryptocurrencies that have occurred recently:
- China's new anti-money laundering codes begin the fight against cryptocurrency crimes.
- Poland is preparing for the introduction of MiCA rules in mid-2025. MiCA is a comprehensive document designed to unify the rules of the crypto-asset market in the territory of the European Union.
- Japan reduces cryptocurrency tax by 20%
- Taiwan is introducing strict anti-money laundering (AML) rules for cryptocurrency asset service providers (VASPs), which will come into effect on November 30, 2024.
After the launch of spot Ethereum ETFs in the US, investors were disappointed by the low interest rate. But yesterday, for the first time, money inflows into spot Ethereum ETFs EXCEEDED money inflows into Bitcoin ETFs. In fact, now we are in that period of time that happens only once every four years...