A strong performance after the weekend has taken total crypto market cap just shy of $3 Tn.
Biden stablecoin report urges congress to act in regulating the space and treating issuers more like banks. Jury still out on whether it was positive or not for crypto in general.
NY Mayor crypto friendly saying it should be taught in schools and that he will take his pay-check in BTC, Houston’s fire fighters pension fund bought $25m BTC and ETH due to its low correlation to other asset classes.
BITO already underperforming the BTC underlying by 2% in less than a month. No wonder you have Congressmen from both parties pushing Gensler to approve a spot ETF.
With BTC at 80k and ETH/BTC at 0.08, that would give a target on ETH at 6400. I think that is very achievable and may need to be revised higher.
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Filmed on on Tuesday 9th November 2021.
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