In a dynamic move, Bitcoin showcased a surge in trading volumes exceeding $25 billion in the past 24h, according to CoinGecko. This boost in trading action came as Bitcoin retraced steps down to the $30,000 mark from values north of $31,000. This fluctuation was catalyzed by a Wall Street Journal report stating that the SEC had hinted to spot bitcoin ETF aspirants about their applications being inadequate.
However, even amidst these conditions, bitcoin managed to bounce back to the mid-$30,000s. The SEC’s responses, while indicative of additional information requirements, do not portray complete disapproval. This not-so-subtle distinction has been instrumental in maintaining the community’s optimism about the spot ETF’s possibility of receiving a green light, eventually enabling an influx of institutional investments in the market. Big players, including BlackRock and Fidelity, have joined the queue to file for spot bitcoin ETFs, fueling this hope further.
Meanwhile, the BTC price chart suggests the resilience of the uptrend expected in 2023 and emphasizes the robust support at the 200DMA. Traders, on a bullish wave, have earmarked $32,500, $33,000, and $34,500 as future Bitcoin price milestones.
Simultaneously, it’s crucial for investors to diversify their portfolio across the crypto cosmos. One such diversification tactic involves investing in crypto presales, a potentially high-reward strategy. Investors, by purchasing tokens of budding crypto projects, aid in their development. These tokens, often available at rock-bottom prices, have a history of giving early investors exponential returns.
The ongoing presale by Wall Street Memes, widely known for its emergence during the meme-stock frenzy of 2021, has caught the attention of many, including analysts at Cryptonews․com. The success of the $WSM token presale, raising over $11․6 million in a month, can be attributed to the extensively engaged Wall Street Memes community. It boasts 523k members on Instagram, another 214k on Twitter, and more than 100k across two additional Instagram channels.
As 30% of the token supply is reserved for community rewards, analysts predict that airdrops will be a significant part of their ecosystem, with the provision of tier 1 crypto exchanges like Binance. Fascinatingly, the initial $WSM airdrop has already begun, and predictions for Wall Street Memes are generally positive following its listing on exchanges.
Source: Cryptonews
