Cramer Bullish on Bitcoin
Jim Cramer, the host of CNBC’s Mad Money, recently changed his stance on Bitcoin and became bullish on the cryptocurrency. This surprised investors who had previously followed his advice to sell. However, experts suggest that there is no reason to sell Bitcoin yet, with some predicting that it could rise above $41,000.
Raoul Pal Predicts Crypto’s Success
Investor Raoul Pal believes that cryptocurrencies will outperform tech stocks in 2024. He bases this prediction on the GMI Financial Conditions Index, which suggests a strong year for growth assets like crypto. Other analysts also point to positive signs for Bitcoin, such as the high open interest for long positions and the bullish candlesticks observed in October.
Hoskinson Criticizes SEC
Cardano co-founder Charles Hoskinson criticized the US Securities and Exchange Commission (SEC) for its inconsistent application of securities laws. He argues that assets like ADA are no different from Bitcoin in terms of being securities. Crypto lawyer John Deaton agrees and emphasizes the importance of considering an asset’s use when determining its classification as a security.
SEC Struggles to Reach PulseChain Founder
The SEC faced difficulties in serving notice to PulseChain founder Richard Heart regarding its lawsuit against him. Heart reportedly resides in Finland, making it challenging for the agency to contact him. The SEC accuses Heart of raising $1 billion through an unregistered securities offering.
Terra Classic Shows Signs of Life
The Terra Classic blockchain, which collapsed over 18 months ago, recently recorded increased daily transactions and token staking activity. However, sustained growth will be necessary to establish Terra Classic as a serious competitor in the blockchain industry.
Crypto Social Metrics and Top Performers
Global crypto social metrics indicate the level of engagement and discussions surrounding cryptocurrencies. Additionally, the performance of the top 10 cryptocurrencies in the market is analyzed.
Hot Take: Crypto Market Outlook
The recent bullish sentiments from influential figures like Jim Cramer and Raoul Pal, along with positive technical indicators for Bitcoin, suggest that the crypto market may experience notable growth in the coming months. However, challenges such as regulatory inconsistencies and difficulties in legal proceedings against crypto founders remain. It will be interesting to see how these factors shape the future of cryptocurrencies and their adoption.
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