✅ Matrixport Highlights Bitcoin's Advantages over Gold
Matrixport analysts have stated that the approval of spot Bitcoin ETFs will bring an additional $30 billion to the market, making gold storage "outdated." Experts believe that if the spot Bitcoin ETF is approved by the U.S. Securities and Exchange Commission, an additional $30 billion will enter the market.
"Given the current state of technological developments, Bitcoin will most likely play a role as a store of value, similar to gold, and as a speculative financial asset," the report said.
✅ Venture Investment in Crypto Projects Drops to 2020's Minimum
In the third quarter of 2023, venture investments in crypto projects amounted to $1.9 billion. You can view the full statistics of venture investment volumes on a quarterly basis in the chart. Compared to the second quarter of 2023, the figure decreased by 63%. PitchBook analysts commented on this decline: "We no longer see big deals. This is one of the factors in the decline - investment rounds are becoming smaller."
✅ Standard Chartered Predicts Ethereum Price to Reach $8,000
Jeff Kendrick, Head of Currency Research at Standard Chartered Bank, has predicted that the price of Ethereum will reach $8,000 by the end of 2026. "Ethereum could reach the $8,000 mark over the next two years, as it is increasingly used in smart contracts, games, and the tokenization of traditional assets," Kendrick stated.
✅ Liquidation Volume in the Crypto Market Exceeds $100 Million per Hour
On October 16, 2023, Bitcoin approached the $30,000 mark before retreating to $28,000. In the wake of this, the volume of liquidations in cryptocurrency futures markets reached $103 million within just an hour, according to CoinGlass data. It's worth noting that shortly before this, the Bitcoin price approached the $30,000 mark. This happened in the context of media reports about BlackRock's fund application approval for the launch of a spot Bitcoin ETF.
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