Cryptocurrency exchange Zipmex has announced it has suspended trading in Thailand due to ensuring it is compliant with local regulations.
Cryptocurrency exchange Zipmex has announced it is taking immediate action by suspending all digital asset trading in Thailand as part of its efforts to comply with regulations.
According to a statement issued on November 25, Zipmex has opted to temporarily halt its operations to align with regulatory requirements with the Securities and Exchange Commission (SEC) in Thailand:
“To ensure that the business operations of Zipmex Company Limited ("Company") are appropriate and compliant with the criteria set by the SEC Thailand, the company is required to temporarily suspend the trading and depositing of all types of assets, effective from November 25, 2023, at 1:00 PM onwards.”
Additionally, the statement emphasized that following the year-end, customers must directly contact the exchange if they wish to withdraw funds or assets.
“After January 31, 2024, when the company suspends withdrawals through the website and mobile application, customers are required to contact Customer Support for withdrawals,” the statement noted.
This follows a series of reported challenges for Zipmex in recent times.
On April 18, Cointelegraph reported that Zipmex had a delay in paying its customers due to an attempt to "maximize returns for customers."
The exchange requested another extension that would allow for a longer moratorium on its debt in Singapore amid the firm's liquidity issues.
Meanwhile, on January 10, Zipmex was the focus of a new probe by the Securities and Exchange Commission (SEC) of Thailand for a breach of new local rules.
On January 11, Zipmex was reportedly just given one day to admit or deny to the SEC if it had been operating as a digital asset fund manager without permission.
Binance settlement highlights banks’ and crypto firms’ ambiguous treatment, says Columbia Business School adjunct professor Omid Malekan.
Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is seen in traditional finance.
“People who sincerely believe that crypto is some unique enabler of bad people doing bad things don’t understand how the rest of the financial system actually works,” Malekan wrote on X (formerly Twitter), adding that companies that follow Anti-Money Laundering best practices still process large sums of illicit funds. “But that’s all considered OK because somebody did the paperwork.”
Malekan also argued that many on Wall Street would be jailed if traditional firms were given the same treatment as Binance in similar cases.
“If they’d been held to the Binance Standard there’d be hundreds of managing directors in jail and less money for shareholder buybacks (or lobbying). But the bankers were smart enough to never question the game.”
Despite criticism, Malekan believes the exchange was still “wrong to lie to its customers and wrong for not being compliant.” Binance and its co-founder, Changpeng “CZ” Zhao, recently reached a billionaire settlement with the U.S. government for allegedly allowing individuals engaged in illicit activities to move “stolen funds” through the exchange. CZ stepped down as CEO as part of the settlement.
Malekan also praised Binance’s contribution to financial inclusion over the past few years:
"It did a reasonably decent job of onboarding tens of millions of poor, brown, and otherwise underprivileged people into the financial system, something the world’s compliant financial firms have chronically failed to do."
ICIJ investigation into global money laundering
Some of the world’s largest banks allowed trillions of dollars to be laundered by criminals, according to leaked documents obtained by the International Consortium of Investigative Journalists (ICIJ).
The investigation, disclosed on Sept. 2020, analyzed over 2,100 suspicious activity reports (SARs) involving transactions worth more than $2 trillion between 1999 and 2017 that were flagged as potential money laundering or criminal activity by financial institutions’ internal compliance officers. Banks facilitating these transactions included major institutions such as the Bank of New York Mellon, Deutsche Bank, and HSBC.
The ICIJ organized more than 400 journalists from 110 news organizations in 88 countries to investigate banks potentially involved in money laundering.
BlackRock meets with SEC over Bitcoin ETF, Binance’s new era begins after settlement in the United States and Sam Bankman-Fried loses release bid.
Top Stories This Week
US officials announce $4.3B settlement with Binance, plea deal with CZ
Binance and its co-founder, Changpeng CZ Zhao, have reached a settlement over criminal and civil cases with the United States Department of Justice. CZ will plead guilty to one felony charge as part of the negotiated agreement. Attorney General Merrick Garland announced the settlement, claiming Binances policies allowed criminals involved in illicit activities to move stolen funds through the exchange. As part of the settlement, CZ announced on X (formerly Twitter) that he had stepped down as CEO and that Binances global head of regional markets, Richard Teng, will assume the position. He added he was proud to point out that U.S. officials didnt allege that Binance misappropriated funds or manipulated markets. CZ was released on bail and is battling government efforts to bar his return to the United Arab Emirates to be with his family. His sentencing is scheduled for February.
BlackRock met with SEC officials to discuss spot Bitcoin ETF
Representatives from BlackRock and Nasdaq met with the U.S. Securities and Exchange Commission (SEC) to discuss the proposed rule allowing the listing of a spot Bitcoin exchange-traded fund (ETF). BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. Many reports have suggested the SEC could be nearing a decision on a spot BTC ETF for listing on U.S. markets. SEC officials also met with Grayscale representatives this week to discuss the listing of a Bitcoin ETF. BlackRock is one of many firms with spot crypto ETF applications in the SEC pipeline awaiting a response, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise.
Bitcoin user pays $3.1M transaction fee for 139 BTC transfer
A Bitcoin user paid $3.1 million in fees for transferring 139.42 BTC. The transaction fee is the eighth-highest in Bitcoins 14-year history. A wallet address tried transferring 139.42 BTC only to pay more than half the actual value of the transaction fee. The destination address received only 55.77 BTC. The mining pool Antpool captured the absurdly high mining fee on block 818087. This is the largest Bitcoin transaction fee ever paid in dollar terms, knocking off Paxos’s September transfer of $500,000.
SEC sues Kraken alleging its an unregistered exchange, mixes user funds
The U.S. Securities and Exchange Commission has sued Kraken, alleging it commingled customer funds and failed to register with the regulator as a securities exchange, broker, dealer and clearing agency. Additionally, the SEC alleged Krakens business practices and deficient internal controls saw the exchange commingle up to $33 billion worth of customer assets with its own. The SEC said this resulted in a significant risk of loss for its clients. In a follow-up blog post, Kraken said the SECs commingling accusations were no more than Kraken spending fees it has already earned, and the regulator doesnt allege any user funds are missing.
Appeals court rejects Sam Bankman-Frieds bid for release
Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. Government prosecutors accused Bankman-Fried of leaking Caroline Ellisons journals to The New York Times in July, which caused his bail to be revoked by a New York District Court. Bankman-Fried was found guilty of seven fraud and money laundering-related charges on Nov. 2. The former FTX CEO will remain behind bars while he awaits his sentencing on March 28 next year.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $37,710, Ether (ETH) is at $2,079, and XRP is at $0.62. The total market cap is at $1.43 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Blur (BLUR) at 99.25%, FTX Token (FTT) at 39.05% and KuCoin Token (KCS) at 24.82%.
The top three altcoin losers of the week are Celestia (TIA) at -19.89%, ORDI (ORDI) at -17.63% and THORChain (RUNE) at -15.53%.
We, the employees of OpenAI, have developed the best models and pushed the field to new frontiers, [but] the process through which you terminated Sam Altman […] has jeopardized all of this work and undermined our mission and company.
Enjoy sub-$40K Bitcoin PlanB stresses $100K average BTC price from 2024
Bitcoin buyers should enjoy the chance to add to their stack below $40,000, according to PlanB, pseudonymous creator of the stock-to-flow family of BTC price models. He believes Bitcoin will rise much higher than its recent 18-month highs.
Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin once the spot crosses the two-year and five-month realized price levels. BTC/USD is now once again above all three realized price iterations.
Enjoy sub-$40k bitcoin … while it lasts, PlanB commented on an accompanying chart.
Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 Bitcoins next halving cycle.
FUD of the Week
HTX to restore services within 24 hours after $30M hack
Crypto exchange HTX, formerly known as Huobi Global, resumed deposits and withdrawals within 24 hours after suffering a $30 million exploit on Nov. 22. The exploit was reported to be $13.6 million around the time of the incident, but has since increased in value. HTX’s hot wallets were compromised alongside a coordinated $86.6 million attack against the HTX Eco (HECO) Chain bridge, consisting of HTX, Tron and BitTorrent. The company has promised to fully compensate users for any losses incurred as a consequence of the hack.
CZ an unacceptable risk of flight, should stay in US: DOJ
United States prosecutors are trying to stop former Binance boss Changpeng CZ Zhao from leaving the country, expressing concern about his potential flight risk. The government requested a review and overturn of a judges decision that would allow Zhao to return to his home in the United Arab Emirates (UAE) on a $175 million bond under the condition that he returns to the U.S. two weeks before his February 2024 sentencing. In a proposed order, prosecutors wrote that Zhao presents an unacceptable risk of flight, arguing that his ties and favored status in the UAE, along with the countrys lack of an extradition treaty with the U.S., are reasons to block him from leaving the country.
KyberSwap hacker offers $4.6M bounty for return of $46M loot
The decentralized exchange KyberSwap has offered a 10% bounty reward to the hacker who stole $46 million on Nov. 22 and left a note of negotiation. The exchange wants 90% of the loot returned. The hacker made away with roughly $20 million in Wrapped Ether, $7 million in wrapped Lido-staked Ether and $4 million in Arbitrum tokens. The hacker then siphoned the loot across multiple chains, including Arbitrum, Optimism, Ethereum, Polygon and Base.
This is your brain on crypto: Substance abuse grows among crypto traders
According to some addiction experts, the high-stress atmosphere of cryptocurrency trading can provide a perfect environment for substance abuse.
Michael Saylors a fan, but Frisby says bull run needs a new guru: X Hall of Flame
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6 Questions for Alex O’Donnell about financial journalism and the future of DeFi
Bitcoin has risen above $38,000, clearing the path for a rally higher. Will altcoins follow?
Bitcoin (BTC) broke above the overhead resistance of $38,000 on Nov. 24, indicating that the sentiment is positive and bulls have kept up the pressure. Independent Reserve CEO Adrian Przelozny told Cointelegraph that the “next two years are going to be good,” and market activity is likely to pick up in early 2024.
The major catalysts for next year is the Bitcoin halving in April and applications for a spot Bitcoin exchange-traded fund, some of which have a deadline for a decision in January. With two main events on the horizon, Bitcoin is likely to find buyers on dips.
Analysts expect a retracement from $40,000 in the near term. That could be one of the reasons why Cathie Wood’s investment firm, ARK Invest, has been gradually selling into strength. The firm sold about 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month, but it is worth noting that ARK still holds more than 4.3 million GBTC shares.
Could crypto traders bulldoze their way through the overhead resistance levels in Bitcoin and major altcoins? What are the important levels to watch out for?
Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin pierced the stiff resistance of $37,980 on Nov. 24, but the bulls are struggling to sustain the breakout. This suggests that the bears are vigorously guarding the level.
Both moving averages are sloping up, and the relative strength index (RSI) is above 61, indicating that the path of least resistance is to the upside. If buyers maintain the price above $37,980, the BTC/USDT pair could reach $40,000.
This level may again witness a tough battle between the bulls and the bears, but if the buyers prevail, the pair could skyrocket to $48,000. Time is running out for the bears. If they want to weaken the momentum, they will have to sink the price below the 20-day EMA. The short-term trend will turn negative below $34,800.
Ether price analysis
The bulls pushed Ether (ETH) above the resistance line on Nov. 22, suggesting the start of the next leg of the up-move.
The bears tried to pull the price back below the resistance line on Nov. 23, but the bulls held their ground. This suggests that the bulls are trying to flip the resistance line into support. If they succeed, the ETH/USDT pair could start a northward march toward $2,200.
This level may again act as a formidable resistance, but if bulls overcome it, the pair will complete a large ascending triangle pattern. That could open the gates for a potential rally to the pattern target of $3,400.
This bullish view will be invalidated in the near term if the price turns down and plummets below the vital support at $1,900.
BNB price analysis
BNB (BNB) jumped above $235 on Nov. 22, but the bulls could not overcome the obstacle at the 20-day EMA ($239). This suggests that bears are trying to take control.
The 20-day EMA has started to turn down, and the RSI is just below the midpoint, indicating a minor advantage to the bears. The short-term trend will turn negative on a break and close below the crucial support at $223. That could clear the path for a fall to $203.
If bulls want to prevent the downside, they will have to push and sustain the price above the 20-day EMA. The BNB/USDT pair may then spend some more time inside the large range between $223 and $265.
XRP price analysis
The bulls are trying to shove XRP (XRP) above the 20-day EMA ($0.62), which suggests strong buying at lower levels.
The 20-day EMA has flattened out, and the RSI is near the midpoint, indicating range-bound action in the short term. The XRP/USDT pair may swing between $0.56 and $0.74 for a few days.
If the price rises and sustains above the 20-day EMA, the pair could gradually climb to $0.67 and thereafter to $0.74. Buyers will have to overcome this hurdle to indicate the start of a new up-move.
Conversely, if the price turns down from the current level and breaks below $0.56, it will signal the start of a sharper correction to $0.46.
Solana price analysis
Solana (SOL) has been trying to break above the $59 resistance for the past two days, but the bears have held their ground. A minor positive in favor of the bulls is that they have not ceded ground to the bears.
The rising 20-day EMA ($52.80) and the RSI in the positive territory suggest that bulls have the upper hand. That enhances the prospects of a rally above the overhead resistance. If that happens, the SOL/USDT pair could ascend to $68.
Contrary to this assumption, if the price turns down from the current level, the bears will strive to tug the pair below the 20-day EMA. If they can pull it off, the pair may drop to $48, where buyers are likely to step in.
Cardano price analysis
Cardano (ADA) has been swinging above and below the $0.38 level for the past few days. This shows uncertainty about the next directional move between the bulls and the bears .
The upsloping moving averages and the RSI in the positive territory indicate that the bulls have a slight edge. If the price rises above $0.40, it will signal the start of a new up-move to $0.42 and later to $0.46.
If bears want to trap the aggressive bulls, they will have to yank the price below $0.34. That may result in a fall to the 50-day SMA ($0.31). The ADA/USDT pair may then oscillate between $0.24 and $0.38 for a while longer.
Dogecoin price analysis
Dogecoin (DOGE) has been maintaining above the 20-day EMA ($0.08) for the past two days, but the rise lacks momentum. This indicates that bulls are cautious at higher levels.
Buyers will have to propel the price above $0.08 to signal strength. The DOGE/USDT pair could then surge toward the target objective of $0.10. This level may again witness a tough battle between the bulls and the bears.
If the price turns down from $0.08, it will suggest that bears remain active at higher levels. The pair may then drop to the immediate support at $0.07. The flattish 20-day EMA and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears.
If bulls drive and sustain the price above the $2.59 to $2.77 resistance zone, it will complete a cup-and-handle pattern. That could start a new uptrend to $3.28 and thereafter to the pattern target of $4.03.
Alternatively, if the TON/USDT pair turns down from the overhead resistance, it will suggest that bears are fiercely protecting the level. That could result in a move down to the 50-day SMA ($2.20). A slide below this level will open the doors for a fall to $2 and subsequently to $1.89.
Chainlink price analysis
Chainlink (LINK) is facing selling at the downtrend line, as seen from the long wick on the Nov. 23 candlestick.
However, the bulls have not given up and have again pushed the price to the downtrend line. The price is stuck between the downtrend line and the 61.8% Fibonacci retracement level of $12.83. This has resulted in a squeeze, likely resolving with a sharp move on either side.
If the price surges above the downtrend line, the LINK/USDT pair may climb to $16.60 and then to $18.30. Instead, if the price turns down and plunges below $12.83, the decline could extend to the 50-day SMA ($11.21).
Avalanche price analysis
Avalanche (AVAX) has reached the overhead resistance at $22, which is an important level to watch out for. The bears are expected to defend this level with vigor.
However, if bulls do not give up much ground from the current level, it will increase the likelihood of a break above $22. The pair may then climb to $25 where the bears are likely to mount a strong defense.
On the downside, the 20-day EMA ($18.40) remains the key level to keep an eye on. If the price turns down and slips below this level, it will suggest the start of a deeper correction to $16. Such a move will indicate that the AVAX/USDT pair may spend some more time inside the large range between $10.50 and $22.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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This week’s rollercoaster reveals one thing about the crypto industry: it is undergoing a period of change.
Imagine building a company from a $15 million initial coin offering to an impressive $60 billion empire. That’s exactly what Changpeng “CZ” Zhao has done with Binance since he founded the crypto exchange in 2017 before resigning on Nov. 21 as part of a settlement with the United States Department of Justice (DOJ).
However, CZ wasn’t just the brain behind Binance — he might be the most important player in the whole crypto game. As such, his downfall represents more than just a personal setback; it’s another blow to the cryptocurrency industry’s global image and credibility.
The U.S. also targeted Kraken in this week’s crypto crackdown. The U.S. Securities and Exchange Commission (SEC) sued the exchange, alleging it commingled customer funds and failed to register as a securities exchange, broker, dealer and clearing agency. The same accusations were brought against Coinbase and Binance in June.
The recent blow came despite Kraken reaching a $30 million settlement with the regulator in February, which apparently wasn’t enough to satisfy the regulator. The recent rollercoaster reveals one thing about the crypto industry: it is undergoing a period of change.
This week’s Crypto Biz also reviews the Grayscale and BlackRock meetings with the SEC, Circle’s new bridge standard, Bittrex Global’s shutdown and CoinGecko’s newest acquisition.
Grayscale, BlackRock met with SEC to discuss spot Bitcoin ETF details
The SEC sat down with two more investment managers to discuss their applications for a spot Bitcoin (BTC) exchange-traded fund (ETF). Grayscale met with SEC officials on Nov. 20 regarding a rule change to list the Grayscale Bitcoin Trust, in addition to an agreement with BNY Mellon to act as a transfer agency and service provider. BlackRock's representatives met with the SEC on the same day, detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. In October, the SEC also met with representatives from Hashdex, another company seeking approval to launch a spot Bitcoin ETF.
Circle launches “bridged USDC standard” for deploying to new networks
Circle has introduced a new standard to streamline the process of launching its USD Coin (USDC) stablecoin on new networks. The new “bridged USDC standard” allows developers to launch the token through a two-phase process, enabling the launch of an unofficial bridged version of USDC that can later become native and official. According to the company, the standard is expected to eliminate the need for “migrations,” where users must swap an unofficial version of USDC for an official version after it becomes available. If developers use the new standard, migrations should become unnecessary, as it allows the unofficial tokens already held in a user’s wallet to become official.
Bittrex Global announces all trading will be disabled as it winds down operations
Crypto exchange Bittrex Global has announced plans to wind down operations, starting with the suspension of trading activity on Dec. 4. The exchange urged users with U.S. dollar holdings to convert their funds to euros or cryptocurrency before Dec. 4 or risk being unable to withdraw the assets. The announcement came roughly nine months after its U.S.-based arm, Bittrex, said it planned to wind down operations in the country starting on April 30 “due to continued regulatory uncertainty.” Bittrex filed for Chapter 11 protection in U.S. bankruptcy court in May and settled its case with the SEC for $24 million in penalties and interest in August.
CoinGecko acquires NFT startup Zash
Crypto analytics firm CoinGecko is scaling its data offering by acquiring the nonfungible token (NFT) data infrastructure platform Zash. According to an announcement on Nov. 21, CoinGecko plans to integrate Zash’s NFT data into its application programming interface by the second quarter of 2024. Users of CoinGecko’s web and mobile app will be able to access unified crypto data offerings, said the company. The deal terms have not been disclosed. Founded in 2021, Zash allows users to track NFT data across 102 marketplaces.
Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.
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Bitcoin is in its “pre-bull market” phase, and the days of BTC price trading at current levels are numbered, the stock-to-flow creator says.
Bitcoin (BTC) buyers should enjoy the chance to add to their stack below $40,000, says one of the crypto industry’s household names.
In a post on X (formerly Twitter) on Nov. 24, PlanB, creator of the stock-to-flow family of BTC price models, hinted that current levels would not be around long.
PlanB: Time is ticking on $40,000 resistance
Bitcoin is destined to go much higher than its recent 18-month highs, PlanB believes, and time is ticking to increase BTC exposure below $40,000.
Known for his optimistic takes on long-term BTC price growth, PlanB used realized price data to support the case for bulls.
Realized price is Bitcoin’s realized cap — the sum total price at which all BTC last moved — divided by the current supply. It is currently at just below $21,000.
Bitcoin bear market bottoms are characterized by the spot price dipping below the realized price, while bull markets begin once the spot crosses the two-year and five-month realized price levels. These refer to the realized price of coins that last moved within the last two years or the last five months — “younger” coins.
BTC/USD is now once again above all three realized price iterations.
“Enjoy sub-$40k bitcoin ... while it lasts,” PlanB commented on an accompanying chart.
Bitcoin realized price chart. Source: PlanB/X
Asked whether the market should expect lower levels from here, PlanB would not be drawn, saying that he simply expected an average BTC price of at least $100,000 between 2024 and 2028 — Bitcoin’s next halving cycle.
Bitcoin hodlers bet on six figures
While PlanB has fielded criticism over stock-to-flow — and conceded that Bitcoin was not able to live up to his expectations during its 2021 bull market — six-figure predictions for the next cycle are increasingly common.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Bitcoin ETF excitement is everywhere, but short-timeframe BTC price morale is wearing thin.
Bitcoin (BTC) may not see a $40,000 BTC price reclaim despite increasing excitement over a spot exchange-traded fund (ETF).
In recent analysis, crypto market participants have started to reconsider just how bullish the ETF narrative really is for BTC price action.
Trader: "Not sure" BTC price will reach $42,000
The dust continues to settle on the U.S. versus Binance regulatory bombshell, which is thought to involve a $4.3 billion fine and the removal of Changpeng Zhao, also known as CZ, as CEO.
Bitcoin sank to one-week lows on the news, but a swift rebound took it back to near 18-month highs with the following 24 hours.
At the same time, commentators began to suggest that the enforcement action was a timely move to pave the way for the first U.S. Bitcoin spot ETF.
Long expected to form a watershed moment for crypto, the approval — while far from guaranteed — is slated to come in early January 2024.
Nonetheless, not everyone sees a snap BTC price parabolic reaction coming as a result. Among them is popular trader Bitcoin Jack, who in a recent X post cast doubt on BTC/USD even hitting $42,000.
“I said 42k. Not sure we get there anymore,” he summarized on Nov. 21.
Bitcoin Jack explained that the week’s Binance and ETF news stories had failed to reshape market dynamics.
“Expected any rumour on a Binance vs US resolution to be more bullish than price reflects (reasons: positive for ETF, less uncertainty for investors if there is a resolution), on top of the generally bullish headlines last weeks (minus Kraken, though much of it is more of the same earlier crackdown language recycled),” he continued.
Introducing potential downside targets, he noted that while support levels are “clean,” $30,000 may yet come back into play.
“Sometimes that what doesn’t happen is the tell,” he concluded.
“HTF supports below are clean buy level if it comes. Potential top here or another leg to 42, support around 29-31.”
One Bitcoin spot ETF, $1 million BTC?
As Cointelegraph reported, other recent forecasts are maintaining the low $30,000s as a retracement zone, in part thanks to liquidity which remains there.
In his most recent social media survey, Filbfilb, co-founder of trading suite DecenTrader, discovered almost a 50/50 split between respondents on whether Bitcoin would hit $40,000 or $33,000 first.
Its that time again:
BTC at $37k now.. which is more likely to come first?
At the opposite extreme on the ETF issue, meanwhile, is Samson Mow, CEO of Bitcoin adoption firm JAN3.
In an X post on Nov. 23, he suggested that Bitcoin could not only hit $1,000,000 per coin as a result of the approval, but that hodlers were mistaken in predicting any less.
“It has come to my attention that there are some Bitcoiners that don’t think Bitcoin can reach $1,000,000 in a matter of days/weeks after ETF money starts to flow in,” he wrote.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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