This week on The Market Report, the resident experts at Cointelegraph discuss the real reasons behind the recent price pump in the market. Can this lead to a $25,000 Bitcoin (BTC) and beyond, or will some unforeseen event ruin the party? Tune in to find out.
We start off this week’s show with the latest news in the markets:
Bitcoin rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations for a pullback to $20,000. Even more notable is that the move brought demand from Asia-based retail investors, according to data from a key stablecoin premium indicator. Another bit of bullish information came on Jan. 20 after United States Federal Reserve Governor Christopher Waller reinforced the market expectation of a 25 basis point interest rate increase in February. Do these and other odds favor a rally toward $24,000 or maybe even $25,000?
Hester Peirce, a commissioner at the U.S. Securities and Exchange Commission, said that after a terrible year, industry players need to remember what crypto is really about. In a speech at the Digital Assets at Duke conference, Peirce laid down some lessons to be learned from the issues that the crypto industry had to face last year. According to the commissioner, 2022 was a “terrible, horrible, no good, very bad year” for both the crypto space and regulators. However, Peirce believes there are valuable takeaways from the series of problems that arose last year. To find out what she thinks crypto is really about, make sure to tune in to the live show.
With BTC up 40% in January, a further point of concern focused on the temptation to take profits. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode nonetheless pointed out that long-term holders remained broadly steadfast in their resolve not to exit the market — even after more than a year of losses. Is this another signal of strength and conviction across the crypto space? Our experts break it down for you.
Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the world of crypto.
Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto…