Bitcoin Skyrockets to $30k on BlackRock’s ETF Filing Boost: What’s the Next Price Target?
It has been an amazing week for crypto's number one coin as everything seems to be falling in place, as Bitcoin (BTC) finally broke the $30k barrier again.
For most of the year, the flagship currency has hovered in between 22 and 28k as experts hypothesize what its potential can be if it can break through the 30k mark.
Yesterday we discussed how Bitcoin could break 30k thanks to its high market cap. It was so high in fact that it reached 50% market dominance for the first time since 2021 when it hit its all-time high. What this means is 50% of the total market cap of 1.1 trillion belonged to Bitcoin.
Well, it has now since passed that figure and is now looking set for an even bigger price rally!
Today the good news kept coming as a Blackrock exchange-traded fund (ETF) filing has caused the price to skyrocket past 30k. Blackrock isn't the only major asset management company to signify their interest in starting an exchange either, so let's get into what all this means.
Are Traditional Asset Managers About to Take Over the Exchange Game?
So, the main news is that BlackRock has filed for a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC). This is likely after the crackdown from the SEC on Coinbase and Binance.
The motivation might be from Blackrock to capitalize on the market gap that has been created, or they may finally feel comfortable ending the crypto market now the SEC has cracked down.
Either way, it is great news for Bitcoin as it is a huge win for crypto in its battle with regulatory bodies for legitimacy. Blackrock isn't the only one making moves either, Deutsche Bank has also sought permission to step into the digital currency exchange game in Germany.
This is two major traditional asset management companies sending out significant signals that theta re-entering the crypto market.
The reasons are yet unknown. Investors will hope it is a sign that the market is now being considered legitimate by some of the big financial hitters, but it could also have to do with many governments around the world testing out their own digital currencies and these companies wanting to get ahead of the curve.
For now, though, it is mostly positive news for the market and especially for Bitcoin.
The only losers here are the altcoins listed by the SEC as securities. There are plenty of alternatives out there though and the market is picking up after this news so let's look at some of the best ICOs in the presale market at the moment.
Basically, since their inception, Dogecoin and Shiba Inu have dominated the meme coin market with very little threat. That could be about to change with the arrival of Wall Street Memes ($WSM).
People are blown away by its performance during presale where it has raised over $9 million in less than a month. Those that dig deeper won't be surprised though.
The reason Dogecoin and Shiba Inu have survived so long at the top is that their head starts over other meme coins have allowed them to build huge communities. Well, $WSM has that before the listings even begin.
Their brand has over 1 million followers across its social media accounts which already brings them into the same stratosphere as the other two meme coins. That community will likely only grow so watch out. Learn how to buy Wall St Memes here.
>>>Visit Wall Street Memes Presale
Ecoterra - Investors Can Earn Money Every Time They RecycleEcoterra (ECOTERRA) is unlike a lot of green projects as it is very simple to understand the benefit it has to the environment thanks to its physical benefits. Users of Ecoterra will be able to earn native currency every time they recycle in supermarkets that have partnered with the project.
Simply scan your item using the app and use the reverse vending machine and start earning.
What will likely draw most investors to Ecoterra is their plan to target large businesses with their project.
As ECOTERRA can be exchanged for carbon credits, which are very valuable to large companies, we think we could see a lot of companies adopting company-wide recycling plans thanks to this green project.
A lot of crypto projects have tried and failed to be the number one trading platform for investors. Many have tried to use AI technology but none have thought about attracting the top AI developers like yPredict (YPRED).
In fact, their site will have the top 1% of these developers so expect only the best from them.
In regards to investors, they will just have to purchase some YPRED to have access to the data that all these developers come up with. However, if you are an expert, this may be confusing but don't worry you can buy subscriptions to your favorite developers to get their full strategies.
Over 20,000 are already on the waiting list for the site so the positive signs are there. Learn how to buy yPredict here.
We always like presale projects that recognize that Web 3.0 technology can be used to improve on existing products or services. This is what DeeLance (DLANCE) has done with sites that connect freelancers and employers. At a time when the gig economy is growing exponentially, this could be very profitable.
An NFT token given to owners to signify project ownership, an escrow payment system, a dedicated dispute center, and lower fees thanks to their peer-to-peer payment system are just some of the ways they will utilize Web 3.0 to better the existing sites.
We think freelancers and employers are very likely to adopt this platform once launched.
The Web 3.0 revolution is well and truly underway. Of course this is obvious, every second new crypto project has included it in some way in their whitepaper.
However, Launchpad XYZ (LPX) has realized that we have skipped a few steps and not everyone is an expert in a brand-new and ever-changing technology.
Their platform will aim to onboard the next 10 million users onto Web 3.0 and will even be able to give them a crash course in everything they will need to know from what projects to invest into the best blockchain games to play.
They also have a side project to try to revive interest in the NFT market that could be very interesting to keep an eye on. Find out how to buy Launchpad XYZ here.
>>>Visit Launchpad XYZ Presale
ConclusionSo to sum up, the market has finally had some good news and is seeing an uptick in fortune.
Bitcoin is leading the charge here as it flies past the 30k barrier. There are also some very interesting new crypto projects going presale that could take advantage of this bullish market and see some big returns for their investors.
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