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Bitcoin surpassed the $40,000 mark, with Ethereum and Dogecoin also experiencing price increases. The global cryptocurrency market cap rose to $1.51 trillion. The rally is partly attributed to expectations of a Bitcoin Spot ETF approval by the SEC. Gold prices reached a record high, but Bitcoin's rise was not seen as impressive by gold bull Peter Schiff. Analyst Michaël van de Poppe and market intelligence platform Santiment suggest that FUD and FOMO related to the ETF could influence whether Bitcoin reaches $50K soon.

Portfolio Pulse from Shivdeep Dhaliwal

December 04, 2023 | 2:47 am

GBTC

Peter Schiff, a well-known economist and cryptocurrency critic, has emphasized the significance of gold reaching record highs over Bitcoin's performance. Schiff highlighted that gold trading above $2,100 is more noteworthy than Bitcoin trading above $40K, as gold has entered uncharted territory while Bitcoin is still far from its high. He suggests that the strength of gold, even with a flat U.S. dollar, is bullish for the metal and could indicate a potential fall in the dollar. Schiff has been vocal about his skepticism towards Bitcoin, warning of a potential crash before the launch of BlackRock's Bitcoin ETF and a possible selloff if the Grayscale Bitcoin Trust converts to an ETF.

Portfolio Pulse from Benzinga Neuro

December 04, 2023 | 1:40 am

BTCUSD

Crypto analyst Dave the Wave predicts Bitcoin could surpass $200,000 by December 2025, based on the MACD indicator's bullish signal on the monthly chart. He suggests widespread expectations could lead to an earlier achievement of this target. Bitcoin has been in the LGC 'buy zone' for 18 months, hinting at a potential breakout. Bitcoin's recent price increase to $39,589.44, with a 7% rise over the last week, is partly due to optimism about a potential spot Bitcoin ETF approval by the SEC.

Portfolio Pulse from Bibhu Pattnaik

December 03, 2023 | 7:02 pm

BTCUSD

ETHUSD

Bitcoin and Ethereum experienced significant gains over the weekend, with Bitcoin nearing the $40,000 mark and Ethereum also rising. The momentum is partly driven by expectations of a spot Bitcoin ETF receiving regulatory approval and speculation about rate cuts by the Fed, which could lead to increased investment in cryptocurrencies.

Portfolio Pulse from Shanthi Rexaline

December 03, 2023 | 4:17 pm

BTCUSD

Bitcoin (BTC) has surged to $39,000, driven by optimism for a potential U.S. SEC approval of a spot Bitcoin ETF. The cryptocurrency has seen a 3% increase in the last 24 hours and 12% over the past month. Despite the rally, Bitcoin remains below its all-time high of $69,044. The market anticipates Federal Reserve interest-rate cuts and the approval of a spot Bitcoin ETF as catalysts for further growth. Bitcoin options market suggests a trading range of $37,000 to $40,000 for December.

Portfolio Pulse from Bibhu Pattnaik

December 02, 2023 | 8:44 pm

AEM

BTG

FNV

GDX

NEM

Peter Schiff, a well-known gold bull, commented on the recent performance of gold and gold stocks, highlighting that despite gold's record close, gold mining stocks rose by a lower percentage, indicating 'extreme bearishness'. Gold has rallied about 13.5% this year, driven by expectations of Federal Reserve rate cuts. The VanEck Gold Miners ETF (GDX) and several gold mining stocks such as AEM, BTG, FNV, NEM, and NG have underperformed compared to spot gold and gold futures, but could catch up as higher gold prices boost their revenues. Benzinga screened gold stocks based on market cap, trading volume, analyst recommendations, and price targets.

Portfolio Pulse from Shanthi Rexaline

December 02, 2023 | 7:10 pm

ADA-USD

BNB-USD

BTC-USD

ETH-USD

SOL-USD

The article discusses various methods for valuing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and BNB Chain (BNB). It covers approaches like the total addressable market, stock-to-flow model, Metcalfe's law, cost of production, discounted cash flow, network effects, and tokenomics. It also touches on valuing decentralized applications (DeFi) using financial ratios similar to traditional finance.

Portfolio Pulse from Stjepan Kalinic

December 02, 2023 | 4:32 pm

BTC-USD

ETH-USD

SHIB-USD

The cryptocurrency market saw significant activity with Shiba Inu's burn rate increasing by 500%, the creation of Kissinger-themed tokens post-Henry Kissinger's death, anticipation of Spot Bitcoin ETF approval, and predictions of price movements for Bitcoin and other cryptocurrencies. Shiba Inu burned 83 million tokens, Kissinger tokens generated over $307,000 in trading volume, and Bitcoin is forecasted to reach $524,000 in the next four years.

Portfolio Pulse from Benzinga Neuro

December 02, 2023 | 2:35 pm

BRPHF

BTCUSD

Galaxy Digital Holdings CEO Mike Novogratz is bullish on Bitcoin, citing potential catalysts like the approval of a spot Bitcoin ETF, the Federal Reserve's rate actions, and the upcoming Bitcoin halving event. He suggests these factors could drive Bitcoin prices to revisit old highs by next year. Bitcoin has seen a significant price increase recently, outperforming the S&P 500 and NASDAQ indices.

Portfolio Pulse from Rounak Jain

December 02, 2023 | 11:00 am

BTCUSD

Swan Bitcoin CEO Cory Klippsten predicts a 'big bull rally' for Bitcoin (BTC) in anticipation of a spot Bitcoin ETF approval by the SEC. Klippsten notes increased trading volumes and a recent price surge in BTC, with a year-to-date high of $38,742. He also mentions that older generations are investing more in Bitcoin compared to Gen Z. The narrative around Bitcoin is shifting towards it being a safe-haven and hedge against monetary inflation.

Portfolio Pulse from Rounak Jain

December 02, 2023 | 3:52 am