This week’s crypto market talks
2 min readNov 15, 2024
- The new U.S. administration’s positive sentiment towards the crypto market is one of the reasons that will drive China to lift restrictions from the crypto industry, according to HashKey Group CEO Xiao Feng. “If the US Congress and the [incoming] president make crypto policies clear, constantly legislate and promote the industry, it would certainly be a driving force for China to accept [cryptocurrencies],” the expert claims.
- Factor CEO Peter Brandt has expressed an opinion that DOGE is moving along the same trajectory as Bitcoin did in 2015–2016, implying the crypto coin’s potential for growth. “DOGE is at life cycle where BTC was in May 2016,” Brandt posted on X. At that time, the BTC price was around $440, starting a significant upward trend. In June 2016, Bitcoin climbed to $781, increasing by 77% and then correcting by 38%. After that, it grew steadily and reached even higher levels by the end of the year.
- According to a recent survey by Sygnum Bank, 57% of institutional investors are ready to increase their crypto asset investments. The survey revealed that the growth of the flagship cryptocurrency created a positive view of the crypto industry among 65% of respondents. “This report tells the story of progress and calculated risk, the use of a diverse set of strategies to leverage opportunities, and most of all, the continued belief in the market’s long-term potential to reshape traditional financial markets,” said Lucas Schweiger, Sygnum’s Digital Asset Research Manager.
