Bitcoin surged on ETF hopes Kyrgyzstan's crypto revenue
Bitcoin's value surpassed $45,000, buoyed by hopes for a January 2024 Bitcoin ETF approval. Analysts anticipate a post-approval pullback, projecting a potential dip to $37,000. Matrixport forecasts BTC reaching $63,140 by April 2024, pre-halving. Uncertainty lingers on simultaneous SEC approvals and potential market corrections post-ETF approval.
In 2023, Kyrgyzstan collected $883,000 in crypto miner taxes, significantly higher than prior years. Despite revenue volatility, the country's primary crypto mining firm benefited from hydropower reliance, facing challenges of low dam fill levels and power imports.
Phishing hits crypto users Saylor optimistic about ETF
Phishing scams targeted 324,000 crypto users in 2023, resulting in $295 million in lost assets. Scam Sniffer noted persistent phishing growth; even as drainers closed, new phishing gangs emerged. Scammers exploit official Discord and X accounts, conducting fake airdrops and using expired links. Despite crackdowns, phishing sites navigate ad guidelines, placing paid Google Search and Twitter ads.
Michael Saylor predicts a promising 2024 aligned with a potential January 10 ETF approval. MicroStrategy added 14,620 BTC, totaling 189,150 BTC. Saylor anticipates MicroStrategy's ($MSTR) surge in 2024, propelled by the Bitcoin Halving and ETF approval. Blackrock and Fidelity's crypto interest signals broader adoption, but SEC guidance on retail crypto remains uncertain.
Vaneck's Gabor Gurbacs compares a U.S. Bitcoin ETF's impact to gold's post-2004 trajectory, possibly quadrupling Bitcoin's price. He expects trillions in added value, highlighting ETF legitimacy and nations holding Bitcoin directly.
Bitcoin's long-term holders ended 2023 accumulating, nearing control of 80% of total supply. A delayed indicator hints at past buying patterns, with potential declines signaling bullish Bitcoin momentum.