Crypto Currency News and Analysis: What You Need to Know

As the crypto market continues to evolve, it's essential to stay up-to-date on the latest news and analysis. Bitcoin's price surge in 2021, reaching an all-time high of over $64,000, was a significant milestone in the industry.

The rise of decentralized finance (DeFi) has also been a major trend in the crypto space. According to a recent report, the total value locked in DeFi protocols has surpassed $100 billion, indicating a growing demand for these services.

In the midst of this growth, regulatory bodies are taking a closer look at the crypto industry. The US Securities and Exchange Commission (SEC) has been actively pursuing cases against unregistered crypto exchanges and token offerings.

The market is trying to bounce back from the $250 level, which has a significant number of options attached to it.

Breaking above the $272.15 level, which is near the 50-day EMA, could bring in more buying pressure.

It's worth noting that the end of the year might be contributing to a decline, as some market participants may be taking profits.

The current situation looks like a classic breakout and pullback before a move higher, which could be a good sign for Coinbase.

The $250 level on Coinbase stock seems to be a significant marker, with a number of options attached to it. This could explain the market's attempt to bounce back from it.

Breaking above the 50-day EMA, around $272.15, could bring in more buying pressure for Coinbase.

Riot Platforms, a Bitcoin miner, has its fortunes tied to Bitcoin's performance. It's currently trying to find support around the $10 level and the 200-day EMA.

A break above $12 on Riot Platforms could bring in more buyers and FOMO, potentially sending the market closer to $15.

The acceptance and adoption of bitcoin and other cryptocurrencies have reached new heights. The latest bull market has been fueled by institutional demand, with the approval of the first ever bitcoin spot exchange-traded fund (ETF) in early 2024.

This historic decision by the US Securities and Exchange Commission (SEC) opened up the market to hundreds of billions of dollars from previously untapped investors. The approval of Ethereum spot ETFs in July this year further solidified the legitimacy of the crypto space.

Donald Trump's appearance at the Bitcoin 2024 conference in Nashville prompted a price surge, and his promise to make America the "bitcoin superpower of the world" has already started to make waves.

Bitcoin is often likened to a form of "digital gold" due to its limited supply and tendency to appreciate in value over the long term.

Many investors, including the world's largest asset manager BlackRock, have allocated a portion of their portfolio to bitcoin, with recommendations to invest 2% of their portfolio in it.

Other cryptocurrencies, such as dogecoin, have emerged as more suitable for transactions due to lower transaction fees, less price volatility, or an active user base.

Dogecoin has even been accepted by major retailers like Microsoft, Tesla, and Twitch, and tech billionaire Elon Musk has suggested it could one day become the "currency of the internet".

Some cryptocurrencies provide increased privacy, making it impossible to track transactions or users, while others leverage blockchain technology to create a platform for things like smart contracts and non-fungible tokens (NFTs).

The majority of the 10,000 cryptocurrencies currently in circulation were created in an attempt to offer something unique.

Cryptocurrencies have also attracted scammers and cyber criminals, who have been aided by a regulatory landscape that is still catching up to this nascent technology.

Mainstream acceptance of bitcoin has been a game-changer for its adoption. The latest bull market has been fueled by institutional demand, taking bitcoin from below $20,000 to above $100,000 in just 18 months.

In early 2024, the US Securities and Exchange Commission (SEC) approved the first-ever bitcoin spot exchange-traded fund (ETF), opening up the market to hundreds of billions of dollars from previously untapped investors.

This landmark decision was hailed as a "historic" moment for the crypto space, pushing bitcoin to new record price highs. It also prompted speculation that the SEC would approve spot ETFs for other major cryptocurrencies.

The approval of Ethereum spot ETF in July this year marked a significant milestone for the crypto industry. Donald Trump's appearance at the Bitcoin 2024 conference in Nashville prompted a price surge that continued to accelerate following his victory in November.

The incoming president has promised to make America the "bitcoin superpower of the world", and has already nominated a pro-crypto candidate to lead the SEC.