Bitcoin Maintains Bullish Trajectory as Kraken Skips Super Bowl Ads
Bitcoin is trading near $48,500, indicating a positive outlook for Bitcoin price predictions. Kraken’s decision to not advertise during Super Bowl LVIII reflects a shift towards educational outreach in the crypto industry. This move highlights a trend of focusing on long-term legitimacy and global adoption rather than hype-driven exposure. The absence of Bitcoin ETF advertisements at high-visibility events suggests a balanced approach to cryptocurrency marketing.
Kraken Executive Claims Super Bowl Too American-Centric for Global Crypto Ads
Kraken, a prominent cryptocurrency exchange, opted out of running an advertisement during the Super Bowl, citing conflicts between its American-centric strategy and its worldwide goals. This decision aligns with the industry’s move towards educational marketing in the crypto space. Despite speculation about Bitcoin ETF ads after SEC approval, the absence of such ads at the Super Bowl indicates a deliberate focus on larger educational programs to reach a global audience.
Bitcoin ETFs Surpass $10 Billion Milestone in One Month
Bitcoin ETFs have reached $10 billion in assets under management within a month of approval. BlackRock’s IBIT fund led with $4 billion worth of Bitcoin. Fidelity’s FBTC and ARK 21Shares also crossed the billion-dollar threshold. Despite withdrawals from Grayscale’s GBTC, Bloomberg analyst Eric Balchunas noted the strength of the ETFs. With BTC consolidating above important technical levels and optimistic predictions from ARK Invest, institutional interest in Bitcoin is growing.
Hong Kong SFC Warns About Fake MEXC Cryptocurrency Exchange Scam
The Hong Kong SFC issued an alert about fraudsters pretending to be the cryptocurrency exchange MEXC and stealing money from unsuspecting investors. The fake organization tricks victims into investing through websites with domain names containing “MEXC,” making it difficult to withdraw funds. The SFC identified eight dubious websites linked to the scam. This warning highlights the importance of being cautious about phony cryptocurrency exchanges and conducting thorough research before investing.
Bitcoin Price Prediction: BTC Stays Bullish Near $48,500
Bitcoin is currently trading at $47,890, reflecting a minor setback. The cryptocurrency faces resistance levels at $49,441, $50,290, and $51,288, while support levels are established at $47,127, $46,236, and $45,259. The Relative Strength Index (RSI) suggests a nearing overbought condition, and the MACD’s divergence indicates mixed momentum. Bitcoin’s market posture remains cautiously bearish until it breaks the $48,850 resistance level.
Top 15 Cryptocurrencies to Watch in 2023
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