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Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

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Bitcoin (BTC) has experienced a significant rally in 2023, breaking through the $40,000 resistance level and recording a 150% increase. The number of Bitcoin wallets valued at $1 million or more has risen to 90,366, a 221% jump since the beginning of the year. The surge in Bitcoin's value has been accompanied by expectations of regulatory approval for a Bitcoin spot ETF, which could attract institutional investors. Companies like BlackRock Inc., Grayscale Investments, ARK Invest, and 21 Shares have applied for the ETF.

Portfolio Pulse from Mehab Qureshi

December 25, 2023 | 7:00 pm

The SEC met with representatives from firms including BlackRock Inc (BLK) and Grayscale Investments (GBTC) to discuss Bitcoin ETFs. A deadline of Dec. 29 has been set for final amendments, with potential approvals in early January 2024. The SEC will decide on an ARK Investments and 21 Shares proposal by Jan. 10. The SEC has previously rejected Bitcoin ETFs due to market manipulation concerns. Amendments include technical details and cash redemption allowances.

Portfolio Pulse from Mehab Qureshi

December 25, 2023 | 6:46 pm

Bitfinex Alpha's report predicts a positive outlook for Bitcoin and the crypto market in 2024, with an expected increase in global crypto owners to 850-950 million and a market capitalization of $3.2 trillion. The report cites a current growth rate of 2.8% per month, which may rise to 3.8%-4.4%, and notes significant trading volume increases and a surge in new Bitcoin addresses following G20 crypto regulation standardization.

Portfolio Pulse from Khyathi Dalal

December 25, 2023 | 5:00 pm

Crypto analyst Michaël van de Poppe suggests Ethereum (ETH) is poised for a strong quarter, historically its best, as the Bitcoin (BTC) halving event in April 2024 approaches. He notes that market sentiment has been skewed towards Bitcoin due to the anticipation of spot ETF approvals, but expects Ethereum to gain traction, especially with its transition from Proof-of-Work to Proof-of-Stake. The upcoming Dencun network upgrade is also expected to contribute to Ethereum's growth. Bitwise predicts Ethereum's fees will double in 2024, and Glassnode cofounders target a $2.5k to $2.7k price range for ETH.

Portfolio Pulse from Khyathi Dalal

December 25, 2023 | 3:33 pm

The article discusses the value appreciation of $100 gifts in Bitcoin, Dogecoin, and Ethereum from Christmas 2022 to the present, highlighting an 86.5% increase to $559.61. In contrast, a $100 investment in the SPDR S&P 500 ETF Trust (SPY) would have yielded a 23.7% return. The article suggests that cryptocurrency gifts may have been more rewarding than traditional gifts or investments in the S&P 500 over the past year.

Portfolio Pulse from Chris Katje

December 25, 2023 | 2:00 pm

Cryptocurrencies experienced a slight dip on Christmas Eve, with $93M in longs liquidated. Bitcoin, Ethereum, and Dogecoin saw minor losses, while Solana's SOL surpassed $100. Axie Infinity, ORDI, and Quant were top gainers. The S&P 500 rose after cooler inflation data. Analysts predict a bullish trend for Bitcoin, with potential new all-time highs in two months based on the OBV indicator. Negative sentiment was noted for STORJ, ILV, LTC, and DYDX, which may indicate upcoming price bounces.

Portfolio Pulse from Mehab Qureshi

December 25, 2023 | 1:08 pm

Crypto analyst TechDev predicts Bitcoin (BTC) may hit a new all-time high soon, based on the on-balance volume (OBV) indicator, which has historically signaled new peaks. The OBV is at new highs, and historically, a new all-time high followed within two months, with a top six to ten months later. The Vortex Indicator (VI) also shows bullish signals for Bitcoin. The anticipated Bitcoin ETF launch in early January 2024 and a 164% surge in Bitcoin's market cap in 2023, partly due to optimism over a potential US-approved Bitcoin ETF, are contributing to positive sentiment. BTC is currently trading at $43,616.73.

Portfolio Pulse from Rounak Jain

December 24, 2023 | 10:03 pm

Cryptocurrency expert DonAlt warns that the potential approval of a spot-based Bitcoin ETF could lead to a 'sell-the-news' event, causing a significant drop in Bitcoin's value. Despite a 164% surge in market capitalization in 2023, DonAlt predicts a temporary rally followed by a correction of up to 30%. However, he suggests that firms like BlackRock Inc. might support Bitcoin's price post-ETF approval. The ETF decision is expected by Jan. 10 and could cause a 'demand shock' in the market.

Portfolio Pulse from Rounak Jain

December 24, 2023 | 4:55 pm

The cryptocurrency market saw significant developments this week, with Shiba Inu's (CRYPTO: SHIB) burn rate increasing by 28,350% after a partnership with D3 Global for the .shib domain. Dogecoin (CRYPTO: DOGE) is predicted to rally if it crosses $0.106, and Elon Musk's X platform may integrate Dogecoin payments. Solana (CRYPTO: SOL) is forecasted to break out against Bitcoin (CRYPTO: BTC), potentially leading to a rally in its USD pair.

Portfolio Pulse from Benzinga Neuro

December 24, 2023 | 9:42 am

The anticipated launch of the spot Bitcoin ETF is expected to occur between January 5-10, 2024. The SEC's 'cash only' requirement has been met by ETF providers, clearing the way for the launch. QCP Capital warns of potential short-term volatility, suggesting a 'sell the news' scenario with Bitcoin possibly retracing to $36,000 before resuming its uptrend. Long-term, QCP remains bullish on Bitcoin. They advise experienced investors to consider strategic plays like selling covered calls and buying puts. Ethereum may temporarily lag behind Bitcoin but could benefit from future spot ETF developments.

Portfolio Pulse from Murtuza Merchant

December 23, 2023 | 3:02 pm

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