Get Smarter About Crypto

₿itcoin reached $42,600.

♢Ethereum reached $2,299.

What we will talk about today...

🔄🚀Bitcoin Supply Shock Coming Soon

🚀🤔 Standard Chartered Expects SEC to Approve Spot Ethereum ETFs

💢🤑 Will BRICS Have a Common Currency?

Bitcoin Supply Shock Coming Soon: A Fun Story of Market Changes

The crypto world is excited as people talk about a Bitcoin supply shock. This means that more people want Bitcoin than there is Bitcoin, and this could make the price go up. This is a fun story happening in the market, and here are three signs that show the supply shock is coming:

🚀 1. Bitcoin ETFs Make More Demand

Bitcoin ETFs are funds that let people buy Bitcoin easily. They have made a lot of demand, with new changes showing a big shift. Before, the Grayscale Bitcoin ETF (GBTC) had more money going out than in, which slowed things down. But now, that is changing, and day 13 of Bitcoin ETFs showed less money going out of GBTC. Also, all ETF issuers got about $250 million more in the last two days.

Dan Ripoll, a leader at Swan, shows the numbers, saying that spot ETFs are getting BTC very fast. The demand/supply difference, now at 13x daily BTC made, will go to 26x as BTC made is cut in half in three months. This could make a FOMO (Fear of Missing Out) by big investors who want ETFs, and this could make a supply shock.

Alessandro Ottaviani, a good Bitcoin analyst, expects a market change, saying that more ETF money will make prices go up. If big investors get FOMO, getting to $60k could start something new in the crypto world.

WhalePanda, a famous crypto analyst, agrees, saying that Bitcoin ETFs got about $250 million more recently, and BlackRock gave a lot of it. A few more days of this could cause a supply shock that affects BTC a lot.

🛢️ 2. Strong Even With Big Miner Selling

Even though miners sent a lot of coins to exchanges, the market stayed strong. Cryptoquant’s report shows the most coins from miners to exchanges since May 16, 2023, over 4,000 Bitcoins or about $173 million in selling. But the market took this selling well, and miners kept their coins since January.

This strength shows that the market can take big selling without big price drops, and this makes the supply shock idea stronger.

💲 3. Stablecoins Ready to Buy Bitcoin

In the market, stablecoins are interesting. They are coins that have the same value as real money. The total value of stablecoins went up, from $119.5 billion in mid-October 2023 to almost $130 billion. This rise in stablecoin money is like “dry powder,” waiting to buy things like Bitcoin.

Alex Svanevik, who started a platform to study the market, says that stablecoin money and BTC price are related. When stablecoin money goes up, BTC price usually does too, and this could mean a big market change.

Conclusion: A Big Storm Coming in the Crypto World

These three signs show that a fun crypto story is coming. The Bitcoin supply shock seems close, and this could make a fun ride in the changing world of crypto. Get ready for the storm that could change the crypto world! 🌪️💰

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Ethereum on the Edge: Standard Chartered Expects SEC’s OK and a $4,000 Jump

Standard Chartered, the big bank, has looked into the future and sees a big change for Ethereum. Get set as we go into the details of their fun guess.

📅 SEC’s May OK for Ethereum ETFs

Standard Chartered says the U.S. Securities and Exchange Commission (SEC) will probably say yes to a spot Ethereum exchange-traded fund (ETF) in May. Geoff Kendrick, the crypto boss at the bank, compares it to the SEC’s recent yes to Bitcoin ETFs, and thinks Ethereum will get the same.

Hold on – May 23 is the day when the SEC must choose the fate of Ethereum ETF requests from Vaneck and Ark 21shares. Kendrick guesses a clear choice on this day, like the SEC’s January 10 yes to 11 spot Bitcoin ETFs.

🚀 Ethereum’s Rise to $4,000

The fun doesn’t end there. Kendrick sees Ethereum’s price going up to $4,000 by the expected yes date. He gets this idea from Bitcoin’s path during its ETF yes process and thinks Ethereum will do the same.

Right now, Ethereum is at $2,370, and Kendrick’s big goal depends on a few things – a low feeling for yes, possible mistakes in guessing changes, and the SEC saying yes to many spot Ethereum ETF requests at the same time as it did with Bitcoin.

🔄 Less Selling, More Ethereum Win

Get ready for a change in the story! While Bitcoin faced selling after its ETF yeses, Ethereum will avoid most of that. Kendrick says that Grayscale’s Ethereum Trust, not like its Bitcoin one, has a smaller part of the total value of Ethereum. In easy words, Ethereum’s dance with selling after yes is expected to be smoother and nicer.

🔮 In the End: A Crypto Journey Starting

As the SEC choice day comes, Ethereum is ready for a big trip. Standard Chartered’s guess not only expects a rule yes but also sees Ethereum’s big rise to $4,000. Will May 23 start Ethereum’s climb to new highs? Stay tuned as we watch this fun crypto journey start.

And don’t forget, Standard Chartered has already made a scene for a Bitcoin show, guessing a possible $200K price by 2025 earlier this month. The crypto story goes on, and we’re here for every fun part! 🚀💎

BRICS Economic Summit Shows Big Plans: Will They Have a Common Currency?

Enter the world of BRICS, where big economies meet to plan the future. The latest BRICS meeting in Moscow prepared for a big meeting, with people from not just the main countries but also Saudi Arabia, the United Arab Emirates, Iran, Egypt, and Ethiopia.

🌐 A Dream for Economic Change

Iran was the main speaker, with its person, Mehdi Safari, sharing big hopes. In his dream for 2024, Safari made hopes for economic and financial changes, asking for faster banking, payment systems, digital currency, common currency, and national currency exchanges.

💪 Making the Foundations Stronger

Safari said the important role of making institutions like the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) stronger. He said that Iran is ready with strong plans for active and new participation in this year’s plan.

💱 Common Currency Hopes

The talks of a common currency from last year got stronger, but the leaders’ meeting in Johannesburg moved towards making national currencies better, using less U.S. dollars. But, Iran’s strong hope for a common BRICS currency was heard in the meeting rooms.

🤝 Joining for Financial Freedom

Russia, a big part of the BRICS story, agreed with the feelings. Deputy Foreign Minister Sergey Ryabkov said the need to try using national and local currencies in deals with other countries, following the leaders’ choice in Johannesburg.

China’s BRICS person, Ma Zhaoxu, agreed with the call for financial work as a main goal. He asked for more payments in local currencies and a better connection between payment systems, showing China’s idea of a BRICS AI development and cooperation center.

🚀 The Way Ahead

As the BRICS economic music goes on, the world sees if common currencies will join these countries. The stage is ready for economic change, and the chances are as big as the hopes shared in the rooms of the BRICS meeting. The trip has just started, and the end promises to change the economic world for many years. Stay tuned for the next part of this fun economic story! 🌍💼

I hope this helps. If you want to learn more about BRICS, you can send us a message so we can post more news like this.

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Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎