Blockchain
Crypto Market Enters The Greed Zone: Start Of Bull Run?
Today, the crypto market experienced a significant boost following the release of the Consumer Price Index (CPI) data, indicating a decrease in the inflation rate. This positive news triggered a surge in the price of Bitcoin, reaching a high of $66,458 and currently trading at $66,184.23, maintaining bullish sentiments. The impact was also felt across altcoins, with Ethereum rising to $3,019 after a recent decline.
The surge in Bitcoin’s price has contributed to the overall market recovery, evident in the crypto market heat map displaying all green indicators. The global market cap has surged to $2.38 trillion, marking a 5.3% increase from the previous day. Notably, trading volume is on the brink of reaching the $100 billion milestone, with a 40% increase, the highest for the month.
In the meme market, steady growth was already observed, but today saw a significant increase, with market cap surging by 6.34% and trading volume following suit. The Solana network experienced a 24% increase in trading volume, although the market cap witnessed a slight decline. However, there remains a strong demand for Solana meme coins.
While today may signal the start of a bullish trend, it’s premature to declare the beginning of a bull run. Nevertheless, it marks the first all-green day for cryptocurrencies, suggesting potential for a bull rally in the coming days.
RealVision founder and CEO, Raoul Pal, has hinted at an upcoming “banana zone,” a phase in the bull run, which he predicts will commence by mid-June. According to Pal, this super bullish period will lead to a significant increase in cryptocurrency prices, with the market cap potentially quadrupling by the end of the bull cycle in 2025.
Pal suggests that following Bitcoin halving, there’s typically a consolidation period, followed by a free rise, signaling the transition from macro spring to macro summer, which precedes the banana zone.
While historical evidence supports Pal’s prediction, predicting the exact movements of the crypto market remains challenging. While the summer rally hasn’t been consistent every year, it was observed in 2013 and 2017. If 2024 follows a similar pattern, investors may witness a bull rally in the near future.
Source: coingape.com
The post Crypto Market Enters The Greed Zone: Start Of Bull Run? appeared first on HIPTHER Alerts.
The European Union’s landmark MiCA regulation is set to transform the crypto industry, establishing stringent standards that many current Virtual Asset Service Providers may find challenging to meet. As MiCA compliance becomes the standard for operating within the European Economic Area, crypto exchanges and asset companies must take prompt action to align their operations with these comprehensive regulations.
To support businesses in navigating this significant transition, an exclusive webinar “Adapt or Die: The Urgent Shift from VASP to MiCA” will be held on Tuesday, November 19th, 2024, at 5:00 PM (CET) time.
This session is designed to provide industry professionals with practical insights and strategies to ensure their software and operations comply with MiCA standards.
Key highlights of the webinar include:
● Detailed analysis of MiCA regulations and their implications for the crypto sector.
● Actionable steps for software adaptation to achieve MiCA compliance.
● Case study feature: How Kyrrex achieved MiCA readiness using solutions from Simplify Labs.
● Practical tools for Anti-Money Laundering, Know Your Customer processes, cybersecurity, and transaction monitoring.
The webinar will be useful for CEOs, COOs, Compliance Officers, Regulatory and Legal Professionals, Tech Managers, and Investors looking to enter or expand within the EEA market. Attendees will gain the knowledge and tools necessary to adapt and thrive under the new MiCA regulatory framework.
Featured speakers:
Vadim Rozov, CEO at Simplify Labs, brings over 20 years of management and software development experience. Under his leadership, the company is dedicated to simplifying crypto and blockchain technology, making it accessible for non-technical founders and management teams.
Kevin Plumpton, CEO at Kyrrex, is a warranted advocate with extensive expertise in finance, business, property, and international law. He specializes in corporate governance, risk, and compliance legislation, and is a prominent figure in the Anti-Money Laundering and Counter Financing of Terrorism fields. He is recognized for developing innovative KYC and due diligence platforms utilized by leading organizations.
“The crypto industry is at a critical juncture where understanding and adhering to MiCA regulations is essential for continued growth and market access,” said Kevin Plumpton, CEO at Kyrrex. “Events like these are vital for bringing together industry leaders to share knowledge and best practices, ensuring businesses can adapt effectively and sustain their operations.”
Franklin Cachia, Executive Director at CSB Group, is an accomplished professional who advises clients on taxation, financial services, AML compliance, and corporate law, among other areas. His broad expertise also encompasses gaming, GDPR, and property law.
The post Adapt or Die: The Urgent Shift from VASP to MiCA appeared first on .
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