CryptosRUs recently spoke about critical developments in the cryptocurrency world, highlighting a confirmed Bitcoin rally and potential future ETF approvals. CoinSpeech gathered key insights from his discussion. You can find the CryptosRUs’s new video below.
Bitcoin Rally Solidified
The Bitcoin rally has been acknowledged, despite some market volatility. CryptosRUs emphasizes, “Focus on the long-term gains, not short-term volatility.” This sentiment is crucial as many investors panic over minor fluctuations. Recent significant buys from companies like Defi Technologies and Meta Planet confirm institutional confidence in Bitcoin.
The Apple and AI Connection
In a twist involving Apple and AI, Apple announced a collaboration with OpenAI to integrate ChatGPT into iPhones. On this, CryptosRUs noted, “Apple really has no AI.” Surprisingly, this move sparked controversy due to Elon Musk’s disdain for OpenAI’s direction since his departure. Musk threatened to ban Apple devices in his companies if OpenAI is integrated deeply into the operating system.
Emerging Institutional Interest
Institutions keep increasing their Bitcoin holdings, driven by the promise of future gains. Short-term realized prices for Bitcoin are rising, showing that even new investors are buying in at high prices. This trend suggests that the digital asset’s long-term viability remains intact.
Speculation on Future Crypto ETFs
Following the approval of Ethereum ETFs, the market anticipates which cryptocurrency will be next. CryptosRUs is betting on Solana. “The third largest interest outside of Bitcoin and Ethereum is Solana,” he says, though he also mentions complete speculation that BlackRock might apply for a Solana ETF soon.
Could Dogecoin Be Next?
Arthur Hayes posited that Dogecoin could be granted an ETF due to its status as the oldest meme coin and its presence on Robinhood. CryptosRUs is skeptical, arguing that ETFs are more for institutions, which haven’t shown significant interest in Dogecoin. Nevertheless, he acknowledges that “there are more Dogecoin holders on Robinhood than Ethereum.”
Market and Community Sentiments
The crypto market remains in flux, influenced by various external factors. CryptosRUs advises calmness amidst market dips, reiterating that the fundamentals are solid. As he puts it, “We are still in a good position, Bitcoin holders keep on increasing, and institutions continue to buy.”
Upcoming Events to Watch
The upcoming FOMC meeting could induce short-term market volatility. CryptosRUs hints, “If Powell declares we need a rate cut immediately, the markets will be soaring.” This event could be a significant turning point for not just Bitcoin but the broader financial markets.