As we venture further into the crypto bull run, it seems we are not the only ones bullish on the direction, as Robinhood have decided to buy out their own crypto exchange to further their exposure and reach outside of the US.
Flooz
5 min read โข Jun 7, 2024
Todayโs issue โคต๏ธ
1. ๐ Today in markets
2. ๐ฏ Robinhood targets crypto
3. ๐ย Whatโs next in Crypto?
4. ๐ฎ Flooz Top Picks
As we move further into the bull run, it gets more exciting, but that isn't the case for everyone...
And the reason for this is because time is running out.
Flooz.xyz and related logos are trademarks of Flooz Inc., or its Affiliates. The views or opinions expressed herein do not necessarily reflect the views of Flooz and summaries information only. The content presented herein, is provided for general informational purposes only. Such content may rely on third-party sources. We do not make any warranties, whether express or implied, regarding the accuracy or actuality of the information provided. We do not explicitly or implicitly assume liability or provide any guarantee regarding the timeliness, accuracy, sufficiency, or completeness of the information provided. Additionally, we do not accept responsibility for any financial losses resulting from the use of the information displayed. No content on our Site constitutes a solicitation or offer. Any prices displayed are for illustrative purposes only, and actual prices and statistics may vary. None of the content we provide should be construed as financial advice or any other form of advice. Reliance on the content displayed is entirely at your own risk and discretion. It is imperative that you conduct your own research, review, analysis, and verification of the content displayed before making any decisions. You are solely responsible for your investment decisions. The information provided on this Site is not a substitute for personalised investment advice that is tailored to your individual needs. Trading is inherently risky and can result in significant losses. It is advisable to consult with a qualified financial advisor before making any investment decisions. The acquisition of securities or cryptocurrencies carries risks that may lead to a complete loss of the invested capital.
Now, you might be thinking, we have loads of time, Bitcoin is still below its all-time high, and altcoins have a long way to go still.
While that is true, in a bull market, everything can change in a blink of an eye, and suddenly the market is up 20-30% in a 24 hour period. And yes, this is unlikely, but it can and has happened before, and it only takes one big move to get the momentum going.
Which if you're not ready, you may completely miss out, or end up buying the top and having to hold your bags for years before getting back to your buy in price.
But luckily, there is still time currently to get your buy ins for your favourite and most exciting crypto tokens before we start to see much higher prices, and yes... they will come at some point.
So frens, don't wait too long as you might just miss your chance for an opportunity of a life time, and remember... the bull run doesn't wait for anyone.
Are we finally starting to see Bitcoin push for a new all-time high?
Or are we going to see another drop again...
As always, let's jump straight into the chart and see what is happening ๐
As you can see, we are hovering just about the $71K area for Bitcoin, which means we are just over 4% away from seeing a new all-time high.
The daily close was indecisive for Bitcoin despite us seeing a slight positive move up, but it is still trading close to the $73k resistance, and to target a new all-time high and get past the resistance, we need to see a bullish breakout with confirmation to avoid a fakeout.
Currently, we have the $60k mark as the last layer of support, if we fall below that, we are in trouble, but for now it seems like we could push towards the resistance of $73k and target a new all-time high if we can see a slight improvement and flip bullish before the weekly close.
Lastly, if you look at the trend line, we have actually broken above it which is great news, and if we can stay above it on the next close, we could see that bullish momentum start to take place.
As always, altcoins tend to follow Bitcoin, so if we do get a move up, we expect to see the same with altcoins too, but for now... it looks like it's the Bitcoin show that wants to break a new all-time high.
So... now we wait and see what occurs next, and hopefully we see some green candles start to form in the near future!
Robinhood, one of the largest traditional finance trading platforms in the world has decided to buyout a crypto exchange...
But is this a bullish move or not?
Well, it seems it is definitely a bullish case, as not only are they looking to get further involved within the crypto world, but it also allows them to expand their customer base in Europe.
The crypto exchange they are buying out is Bitstamp, which is one of the biggest UK based crypto exchanges, and the deal is worth around $200M in total, and is expected to be done at some point during 2025.
Now while this may not seem big, the fact that big organisations in traditional finance, Robinhood being one of them ($20B market cap) are looking to get involved in crypto is definitely a good sign, and could even spark more interest from other parties.
Crypto is still in its infancy, with many more stages of development for both the industry and its reputation to come, these kind of moves are definitely bullish, and should be welcomed for many positive reasons.
Again, the deeper we move into the bull run, the more interest and FOMO moves we are starting to see... and the rocket hasn't even be fuelled yet, so the more positive moves and adoption, the better, and this is certainly another move in the right direction.
It seems that the US government are getting more involved than ever before, and it may even play a part in the upcoming elections...
But will it have a real impact?
The short answer is yes. And the reason is because we likely have regulations coming either way, the only difference is whether government wants to be pro crypto, or be against crypto.
Whatever the result is, it doesn't really matter, but a positive decision does likely favour the ease of use and availability of crypto.
Now, it is important to remember that crypto will still play a part, and even with politics aside, it has a bright future, which is only just getting started, so long term crypto is an area that eventually many will invest, just like the stock market.
But for now, being super early is a privilege and taking advantage of this life changing opportunity is one that should be on the minds of many, as being able to make returns like we are seeing in crypto, is not available as easily in many other places, if any at all.
So, while we are slowly moving through the bull run with potentially weeks and months of green prices to come at some point, remember that this is an opportunity that many will never get.
Here are our three crypto picks of the week ๐
๐ First up on our list is $VOXEL
Voxies is a gaming platform on the polygon network that allows players to earn assets and trade them on the marketplace while fighting epic battles in game.
The gaming industry needs no introduction, and this is another gaming project on the blockchain that is starting to find some popularity quickly.
In the last 24H, it has seen a price rise of 18% and sits at a $50M market cap.
๐ Next up on the list, we have $KARATE
Karate Combat is the first fan-controlled real world sports league, which allows you to earn tokens by watching and voting.
We have seen a positive trend of this, especially with influencer related events, and $KARATE has been involved with similar events recently and has seen a rise of 16% in the last 14D.
This is a unique project with a niche than is seemingly growing at a rapid pace, so this might be one to watch for the future.
๐ Our final pick of the week is $LAKE
Data Lake supply incredible amounts of information related to real world clinical data, which is used to improve health practices and data sharing for patients.
This is an unlikely but brilliant combination of the medical industry and the blockchain, and it could see a lot of attention continue to move its way as they expand.
Currently, $LAKE is down around 35% in the last 30D, but that is after a big rise, so it could be a good time to accumulate before a move up again in the future.
Market News
The recent US hike rates were unchanged, but as we come closer to the elections and based on recent data and promises, it seems that the hike rates could start to drop, leading to a potential bullish case for crypto and the markets.
6 min read โข Jun 17, 2024
