Bitcoin price prediction for Dec. 11 remains mixed as BTC consolidates in a tight range of $17,000 to $17,350 despite trading volume skyrocketing to $15 billion. New Jersey aims to become the most crypto-friendly state in the United States. For this reason, the state is proposing the Blockchain and Digital Assets Regulation Act, which will allow DAOs to incorporate within its borders, offer tax breaks for digital currency companies and grant share certificates to its investors. Senator Robert Singer, a Republican, introduced the bill in hopes that the state would make companies involved in the burgeoning digital asset space more accommodating.
He expressed his desire for New Jersey to serve as the antithesis of New York, which he felt was “extremely restrictive”. ” towards crypto innovation.We want to become more industry-friendly. I don’t want to be limiting. I want to be open minded, but I also want to protect the consumer.
This is good news for cryptocurrencies entering the US markets and could increase the popularity of cryptocurrencies. Top Bloomberg Analyst Says Bitcoin Will Outperform GoldBloomberg’s top commodities expert Mike McGlone predicts that Bitcoin (BTC) will soon surpass the value of gold.
According to a well-known analyst, the leading cryptocurrency is currently four times more volatile than the yellow metal. Gold is a “main challenger”. on bitcoin, says McGlone, who also suggests that bitcoin is becoming a higher beta version of gold and bonds. In addition, he also expressed concern about the Fed’s aggressive policy decisions, saying.
“The most aggressive Fed tightening in in 40 years is a good reason for a macro ebb, but 2023 could be about which assets are impacted by the turn in the economy.” Enforce central banks.If they don’t relax, the world could slide deeper into recession, affecting all risk assets.
Our base case is an extended period of deflation, with the cryptocurrency market coming out on top as measured by the Bloomberg Galaxy Crypto Index. If the next bitcoin halving really happens in 2024, it could be beneficial for bitcoin holders. Messari, in a new analysis, claims that a Bitcoin halving event can cause a price spike for BTC. When the incentive for mining Bitcoin transactions is halved, it is referred to as “halving”.”As you can see in the tweet below, each halving was followed by price increases and brief rallies.