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What’s going on E.T Fam? It’s time for our Daily Roundup. Bitcoin looks like it’s preparing for its next leg up. BTC pumping is always good news for crypto, but it’s been causing a bit of a pullback in altcoin price movement. The Bitcoin dominance has been quite heavy. Anytime this happens, the rest of the market tends to spike downwards.
However, there is no need to fret because those gains are usually redistributed into the alts. I have no doubt that this pattern will repeat. In the meantime, I’ll be on the lookout for the juicy discounts within the market. We’re still waiting for news on whether we’ll get a Bitcoin ETF or not. There are only a few days left for the SEC to delay its decision of yay or nay.
Let’s keep our fingers crossed that they’ll finally play ball. El Salvador deserves a pat on the back. After harshly scrutinizing the country for adopting Bitcoin as legal tender, the IMF has reported that El Salvador will reach a GDP growth of 9% this year. This is another slam dunk for crypto. I’m sure that other countries are taking notes.
Amid the current regulatory landscape, Celsius is still making big moves. They’ve recently raised at $400M at a $3B valuation. The investment round was led by one of the biggest retirement fund investment groups in Canada. This is especially bullish, because this shows that private equity funds are now entering DeFi. For those that don’t know, private equity = trillions of dollars!
In other news, Arbitrum is hard at work to bring us cheaper transactions….which is excellent news. Innovation in the crypto space continues. The world will be completely different in the next five years, and crypto will be the catalyst. Make sure you have a front row seat. Have a great day E.T Fam!
#nft #ethereum #bitcoin #BTC #DeFi #crypto
DISCLAIMER: This is not financial advice! This is an entertainment and opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing. DYOR
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