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Search resuls for: "Youwei Yang"


5 mentions found


☆ These are the boldest bitcoin predictions for 2024 — one calls for a 1,000% rally to $500,000
  + stars: | 2024-01-01 | by ( Arjun Kharpal Ryan Browne | Arjun Kharpal | Ryan Browne | ) www.cnbc.com   time to read: +9 min
Meanwhile, there is growing excitement that the U.S. Securities and Exchange Commission will approve the first ever bitcoin ETF, after years of opposition. With all of this excitement comes some quite bold predictions about bitcoin's price. "No rationale for that prediction," Mobius said, except that a bitcoin ETF looks likely and "that has heightened interest" in the cryptocurrency. Yang attributes the anticipated price rise to a bitcoin ETF being approved, leading to higher institutional investment in bitcoin, as well as May 2024's bitcoin halving, which would result in the bitcoin supply being constrained. Alexander told CNBC that during the first quarter of 2024, bitcoin will trade within the $40,000 to $55,000 range, owing to "professional traders creating volatility."
Persons: Filip Radwanski, Bitcoin, bitcoin, FTX, Sam Bankman, Fried, Binance's Changpeng Zhao, Mark Mobius, Mobius, Yang, Luna, James Butterfill, Butterfill, Antoni Trenchev, Trenchev, Carol Alexander, Alexander, Coinbase, Matrixport Organizations: Getty, CNBC, Department of Justice, U.S, U.S . Securities, Exchange, Chartered, University of Sussex, Exchange Commission, SEC, Fidelity, Blackrock, Federal Reserve Locations: U.S, bitcoin, Blackrock
☆ Analysis: Fever over BlackRock's bitcoin fund faces chill of rate hikes and regulations
  + stars: | 2023-06-26 | by ( Elizabeth Howcroft | Thomson Reuters | Reports On The Intersection Of Finance | ) www.reuters.com   time to read: +5 min
If approved, a bitcoin ETF from the world's biggest asset manager could attract investors reluctant to buy the high-risk cryptocurrency directly. Digital asset manager Grayscale had its proposal for a spot bitcoin ETF rejected last year. LESS CAPITAL OVERALLAfter surprise rate hikes in Australia and Canada, and as the Federal Reserve forecasts two more hikes, investors are now betting that interest rates will remain higher for longer. Bitcoin had benefited from ultra-low interest rates, which incentivised investors to take riskier bets in search of returns. "Albeit - there are likely to be further challenges with interest rates continuing to increase," he said.
Persons: Mike Caldwell's, Jim Urquhart, Bitcoin, Charles Schwab, Youwei Yang, BTCM, Wes Hansen, Gordon Grant, Grant, Strijers, he'd, Riyad Carey, Genesis Trading's Gordon Grant, There's, bitcoin, Usman Ahmad, Elizabeth Howcroft, Tom Wilson, Louise Heavens Organizations: REUTERS, BlackRock, U.S . Securities, Exchange Commission, Citadel Securities, Fidelity Investments, Reuters Graphics, Silicon Valley Bank, SEC, Fidelity, Cboe, Kaiko, Federal Reserve, Blackrock, Zodia, Chartered, Technology, Thomson Locations: Sandy , Utah, Silicon, United States, Australia, Canada, Hong Kong
☆ Bitcoin surges 9% toward key level of $30,000 as crypto market rallies amid fresh banking sector fears
  + stars: | 2023-04-26 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +3 min
The rally comes as First Republic Bank stokes fresh fears over weakness in the banking sector. Investors are also adding risk as they anticipate a Fed pivot, a crypto exec told Insider. First Republic Bank stock nosedived almost 50% on Tuesday and lost another 20% Wednesday, hitting a record low, after reporting higher-than-expected customer deposit withdrawals. Bitcoin rallied through the turmoil in March as Silicon Valley Bank failed, and industry observers said a similar situation is playing out for the world's largest crypto amid the latest bout of uncertainty. Another crypto exec echoed similar sentiments, adding that the slew of bank failures like Silicon Valley Bank last month made investors question the stability of traditional financial services.
☆ Here's why recent moves by the SEC and CFTC may be just the start of crypto's regulatory troubles
  + stars: | 2023-03-29 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +6 min
Both the SEC and the CFTC have taken action against the crypto industry in the last few weeks. He added: "At the end of the day industry participants are searching for regulatory clarity, which has not yet been achieved." "Compliance and regulatory efforts are expensive, but necessary, the personnel will be almost as important as tech people," Yang told Insider. Markets could face more volatility following a crackdown because crypto prices are often sensitive to regulatory news. This, however, would require a widespread effort and coordination between financial regulators, industry participants, and legislators.
☆ 4 crypto experts break down what's next for the industry with trading volumes down 50% since the FTX collapse
  + stars: | 2022-12-16 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +5 min
Crypto daily trading volumes plunged 50% following FTX's collapse, per Bloomberg and Kaiko data. Insider spoke with four crypto experts about what's next for the nascent industry. The plunge in trading volumes comes at a pivotal time for the industry, which is enduring a prolonged and brutal bear market. "Many bull market retail investors have vacated the market causing significant lower trading volumes," Andreas Christensen, the founder of blockchain gaming developer SuperOne, said. Christensen added: "In such a fragile bear market, a big-time criminal act like SBF did with FTX will have a severe impact on the market sentiment and trading volumes."
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