Bounce into Really feel Good Friday and uncover why XRP is pumping. Has Gary Gensler simply resigned? What’s happening with the Polymarket FBI raid?
Alright, I’ll chew; why is XRP going parabolic? Why is XRP Pumping whereas the remainder of the market crabs?
However first! Wow, what every week, huh? We’re on the level within the bull cycle the place you must begin enthusiastic about what colour your Bugatti needs to be.
Coinbase prime 10 app in app retailer
All cash not near their ATH’s
Bitcoin nearly at $100k
Apart from the Polymarket raid, issues are wanting spicy once more for the crypto trade.
Right this moment, we’ll get into that and extra on this week’s version of Really feel Good Friday!
Why is XRP Value Pumping This Week?
Didn’t you hear? SEC Chair Gary Gensler is stepping down.
This ends 4 years of draconian crypto coverage which have neither helped nor harm anybody. Pointless.
JUST IN: 18 US States are suing the SEC, accusing Gary Gensler of crypto overreach. pic.twitter.com/MpYrorqk7p
— Cointelegraph (@Cointelegraph) November 14, 2024
Within the aftermath, Bitcoin
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are pumping essentially the most out of different cryptocurrencies.
The excellent news is that should you aren’t on the receiving finish of the pump, WE HAVEN’T even seen the beginning of the alt-season but.
I do know Bitcoin is the ONLY coin-breaking ATH (additionally SUI). Main alts and meme coin season begins after Bitcoin hits its prime, which isn’t till later in 2025. If Trump instigates the golden electrical bull run by establishing a BTC Strategic Reserve, it might lengthen into 2026.
In the meantime, Ethereum is in a decent spot. Solana is taking the limelight. What ETH wants is a big-time Defi renaissance.
ETH is the vine; DeFi the grapes. There are many newer vines with grapes to suck. The outdated vine must make a giant advertising and marketing push for this new wave of buyers, and the one means ETH is best is to reestablish itself because the extra battle-tested and safe community. Can they do it? We’ll see.
Polymarket Raid is Proof America is a Banana Republic
An FBI raid on the house of Polymarket founder Shayne Coplan has stirred a storm of controversy and questions, centering scrutiny on the Justice Division beneath Biden.
Actually, Joe? We thought you and Trump have been good mates now!
This pre-dawn operation prompts queries about why a prediction market is within the crosshairs, particularly amidst political stress. The raid’s official narrative ties to a felony investigation into Polymarket doubtlessly letting Individuals guess on politics by way of VPNs, breaching phrases with the Commodity Futures Buying and selling Fee.
Although such a violation may warrant consideration, the raid’s dramatic execution invitations hypothesis on political agendas.
Polymarket confirmed robust assist for Trump’s electoral ambitions. Although, on the finish of the day, it’s GAMBLERS making bets with THEIR MONEY. In the event that they thought Trump would win, who cares?
But, with Palantir founder Peter Thiel, a widely known Trump confidant, behind them, suspicions of political bias naturally come up. Many level to what they see as uneven enforcement by Merrick Garland’s Justice Division. Notable episodes, just like the FBI’s actions at Mar-a-Lago and the dealing with of Hunter Biden’s state of affairs, gasoline the hearth of bias accusations.
The Polymarket incident provides one other layer to those considerations.
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The Bitcoin Reserve: A Strategic Asset?
We’re going to the BTC future.
By the best way, we might all the time use blockchain and digital foreign money, however Trump’s imaginative and prescient is a lot better than the opposite model we might get beneath Kamala Harris.
Senator Cynthia Lummis, along with her Bitcoin Act, is main the cost. She goals for a strategic reserve to regular the economic system throughout storms. As this idea picks up steam, the attainable results and hurdles demand consideration.
JUST IN:
— Watcher.Guru (@WatcherGuru) July 12, 2024
A US Bitcoin reserve would act equally to the Strategic Petroleum Reserve, stepping in as a monetary lifeline when the economic system hits a snag. Stockpiling Bitcoin may allow Uncle Sam to dodge inflation and market swings, tapping into Bitcoin’s enchantment as a decentralized, scarce asset. Advocates see Bitcoin mirroring gold’s ascent, casting it as a modern-day strategic asset.
Senator Cynthia Lummis champions this imaginative and prescient, stating, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE,” highlighting her dedication to integrating Bitcoin into nationwide financial technique.
We at 99Bitcoins are extremely bullish. It’s not that difficult. Different international locations should sustain with US Bitcoin stack.
BTC will go ballistic.
Anyway, that’s all we acquired for this week’s version of Really feel Good Friday! Get pleasure from this bull run. We’re solely getting began.
EXPLORE: Italy Scales Again Crypto Tax Hike, Proposing 28% Capital Beneficial properties Levy
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