Today in the cryptocurrency market, key assets saw significant gains. Bitcoin (BTC) jumped 5.28% to reach $64,326.29. This is a significant improvement from yesterday, when BTC was trading at around $60,834.78.
Our latest forecast for August 18 is moving successfully according to scenario:
Bitcoin 👈
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Bitcoin's rise can be attributed to increased interest from institutional investors and positive news about the adoption of cryptocurrencies by a number of major financial institutions. BTC's market dominance was 55.98%.
Ethereum (ETH) also showed strong gains, rising 4.04% to $2,777.76. Yesterday, ETH was trading at around $2,631.89, making today's gains significant. This gain is likely due to increased activity on the Ethereum platform and investor expectations for network upgrades such as Ethereum 2.0.
Binance Coin (BNB) rose 0.6% to $583.05. While not as impressive as BTC and ETH, BNB continues to strengthen its position, especially as Binance Smart Chain gains popularity among decentralized application developers.
Solana (SOL) has seen an impressive 9.57% gain to $158.38. This is a significant recovery from the previous days when SOL price was volatile. This gain can be attributed to the increase in trading volume and developer activity on the Solana blockchain.
The cryptocurrency market is showing a strong bullish trend, which may indicate the beginning of a new stage of growth. Bitcoin, having broken through the $64,000 mark, may continue its upward movement if the market sentiment remains positive. Ethereum, with its significant growth, may also prompt further purchases, especially ahead of significant network upgrades. Solana, showing the greatest growth, may attract new investors and developers, which will strengthen its position at the top of the cryptocurrencies.
However, it is worth considering possible corrections, as the current growth may attract short-term traders looking to lock in profits.
News:
In an interview with CNBC, Anthony Scaramucci, a well-known investor and founder of SkyBridge Capital, shared his thoughts on the dynamics of Bitcoin. He noted that the sharp drop in the cryptocurrency’s price in 2022 was caused by a combination of industry and macroeconomic factors. However, in 2024, Bitcoin shows a significant recovery, which, according to Scaramucci, is due to the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission (SEC). This decision became a major catalyst for growth, attracting many traditional investors to the market.
Scaramucci also emphasized that the launch of the BTC ETF was the most successful in the history of exchange-traded funds, which increased the legitimacy of bitcoin as an asset. He continues to believe in its potential as a reliable store of value, despite volatility and the recent rise in the price of gold. Scaramucci believes that bitcoin will reach $100,000, although this process may take longer due to regulatory hurdles.
In addition, the entrepreneur drew attention to the growth in the number of crypto wallets, which indicates the expansion of Bitcoin acceptance in society. He recommended investors to hold on to Bitcoin despite possible exchange rate fluctuations, and is confident that demand for cryptocurrency will continue to grow, regardless of the outcome of the US presidential election.
Another section of the article discusses the extradition of Zhang Mou Mu, a suspect in the Ponzi scheme known as MBI Group. The scheme, which began in 2012, has siphoned off billions of dollars from millions of investors using typical fraudulent techniques. China’s Supreme Court recently ruled virtual asset transactions illegal, which could set a precedent for future action against such schemes.
