Crypto Jebb from CoinSpeech has provided insightful updates in his latest video. Below, the CoinSpeech team has succinctly compiled the critical highlights for you. You can watch Crypto Jebb’s new video at the end of this article.
Robinhood’s Ambitious $200 Million Acquisition
Robinhood is making waves by purchasing Bitstamp for $200 million. This move reflects how traditional finance (TrFi) is embracing decentralized finance (DeFi). As Crypto Jebb notes, “Robinhood has been moving in the direction of buying into the cryptocurrency space for the last several years,” signifying a broader acceptance of cryptocurrencies.
Bitcoin’s Rally and Market Trends
Bitcoin has been soaring dramatically, hitting an astonishing $71,400 and remaining above $70,000 for a record-breaking 48 hours. According to Crypto Jebb, “we are in the longest stretch of time above $70,000 that Bitcoin has ever seen in history.” This signifies increasing confidence among investors and points towards a potential mega rally to $90,000.
Binance and Major Altcoins Surge
- Binance: Up by almost 20% in the past week, reaching an all-time high of $726. It is on a determined path to the $1,000 mark.
- Toncoin: Surged 13.13%, climbing up to the top-nine cryptocurrencies.
- Other altcoins like JASM and CASPA have also shown significant gains, each increasing by 30%.
The Impact of the US Stock Market
The correlation between Bitcoin and the S&P 500 has become increasingly apparent. Crypto Jebb highlights that “Bitcoin and the cryptocurrency space follows the S&P 500.” As US equities rally, Bitcoin, along with other cryptocurrencies, follows suit. The bullish trends in the stock market indicate potential further gains for digital assets.
Future Outlook
The future looks promising for crypto investors. Federal Reserve policies and economic stimuluses can further catalyze the growth of cryptocurrencies. Jebb emphasizes the importance of investing in diversified assets such as Bitcoin, Ethereum, and US stocks. “Make sure you buy the S&P 500… invest for the long term on a consistent basis,” he advises.