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FameEX Morning Crypto News Recap | November 30, 2023
2023-11-30 12:48:40
Standard Chartered Forecasts Bitcoin to Reach $100,000 Ahead of Schedule
Standard Chartered Bank has reaffirmed its Bitcoin price prediction of $100,000 for the coming year and expressed increased optimism about its timing. The bank's analyst mentioned that they anticipate greater price gains to occur before the Bitcoin halving, especially due to the earlier-than-expected launch of U.S. spot Bitcoin ETFs.
The AI-Centric Crypto Industry Grows by $2 Billion in Under 14 Days Market data highlights a remarkable expansion in the AI-focused cryptocurrency sector, witnessing a substantial increase of nearly $2 billion within a span of two weeks. Notably, the token bittensor (TAO) played a significant role in this growth, experiencing an impressive 86.5% surge over the past fortnight. Crypto Miner Canaan Inc. Reports Lower Q3 Revenues Due to Stable Bitcoin Prices and Rate Increases Canaan Inc., a cryptocurrency miner and mining rig manufacturer, reported Q3 revenue of $33.3 million, down approximately $40 million from Q2. The company attributed the decline in revenue to stagnant bitcoin prices and interest rate increases by the U.S. Federal Reserve, according to its CEO. Brazilian Crypto Holders Might Face Taxation on Overseas Holdings The Brazil Senate has approved new income tax rules that could require Brazilians to pay up to 15% tax on income generated from cryptocurrencies held on foreign exchanges. This would subject income from overseas crypto holdings to the same tax rate as local income. Investor Sentiment in CME Bitcoin Futures Points to $40,000 BTC Price Bet On November 28, the annualized premium for Bitcoin futures surged to 34%, fueling speculation about the possibility of a spot Bitcoin ETF. This uptick in confidence among investors suggests a strong belief in Bitcoin's potential to surpass the $40,000 price threshold in the near future, as indicated by BTC derivatives metrics. Deputy Treasury Secretary of the United States Advocates for Enhanced Sanctioning Tools for Crypto Companies Wally Adeyemo, the Deputy Secretary of the United States Treasury Department, is exploring new sanctions tools to target wrongdoers in the cryptocurrency industry. He discussed this during the Blockchain Association's Policy Summit on November 29 and called on Congress to enable sanctions that could completely disconnect an entity from the U.S. financial system. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
