Join Feel Good Friday and find out why XRP is booming. Did Gary Gensler just resign? What’s going on with the FBI raid at Polymarket?
Very well, I will bite; why is XRP going parabolic? Why is XRP Pumping when the rest of the market is crabbing?
But first! Wow, what a week, huh? We’re at the point in the bull cycle where you should start thinking about what color your Bugatti should be.
Coinbase top 10 apps in the App Store
Not all coins are close to their ATH
Bitcoin almost at $100,000
Besides the Polymarket raid, things are looking spicy again for the crypto industry.
Today we’ll return to that and more in this week’s edition of Feel good Friday!
Why is XRP price increasing this week?
Haven’t you heard? SEC Chairman Gary Gensler resigns.
This ends four years of draconian crypto policies that haven’t helped or hurt anyone. Useless.
JUST IN: 18 US states sue SEC, accusing Gary Gensler of crypto overreach. pic.twitter.com/MpYrorqk7p
– Cointelegraph (@Cointelegraph) November 14, 2024
JUST IN: 18 US states sue SEC, accusing Gary Gensler of crypto overreach. Subsequently, Bitcoin .cwp-coin-chart svg path { Stroke: ; line width: ; }
Price
Trading volume in 24 hours
Last price movement over 7 days
and XRP .cwp-coin-chart path svg { trait: ; line width: ; }
Price
Trading volume in 24 hours
Last price movement over 7 days
get the most out of other cryptocurrencies.
The good news is, if you’re not on the receiving end of the pump, WE HAVEN’T even seen the start of the alternate season yet.
I know Bitcoin is the ONLY ATH (also SUI) that breaks coins. The major alt and meme coin season begins after Bitcoin peaks, which isn’t until later in 2025. If Trump sparks the golden electric bull race by establishing a BTC strategic reserve, it could extend until ‘in 2026.
Meanwhile, Ethereum is in dire straits. Solana is in the spotlight. What ETH needs is a big Defi renaissance.
ETH is the vine; Challenge the grapes. There are many newer vines with grapes to suck. The old vine needs to do a big marketing push for this new wave of investors, and the only way for ETH to improve is to re-establish itself as the most proven and secure network. Can they do it? We’ll see.
The Polymarket raid is proof that America is a banana republic
An FBI raid on the home of Polymarket founder Shayne Coplan has sparked a storm of controversy and questions, focusing attention on the Justice Department under Biden.
Really, Joe? We thought you and Trump were good friends now!
This pre-dawn operation raises questions about why a prediction market is in the crosshairs, particularly amid political tensions. The official narrative of the raid is linked to a criminal investigation into Polymarket potentially allowing Americans to bet on politics via VPNs, in violation of Commodity Futures Trading Commission terms.
While such a violation may merit attention, the raid’s spectacular execution invites speculation about political agendas.
Polymarket has shown strong support for Trump’s electoral ambitions. But ultimately, it’s the PLAYERS who bet with THEIR MONEY. If they thought Trump would win, who cares?
Yet with Palantir founder Peter Thiel, a well-known Trump confidant, behind them, suspicions of political bias naturally arise. Many point to what they see as uneven enforcement by Merrick Garland’s Justice Department. Notable episodes, like the FBI’s actions at Mar-a-Lago and the handling of the Hunter Biden situation, add fuel to the fire of accusations of bias.
The Polymarket incident adds another dimension to these concerns.
EXPLORE: Tether Launches Hadron Platform for Simplified Asset Tokenization: Here are 3 RWA Tokens You Should Watch
The Bitcoin reserve: a strategic asset?
We are moving towards the BTC future.
By the way, we would still use blockchain and digital currency, but Trump’s vision is much better than the other version we would have under Kamala Harris.
Senator Cynthia Lummis, with her Bitcoin Act, is leading the charge. It aims for a strategic reserve to stabilize the economy during storms. As this concept gains momentum, the possible effects and barriers require careful attention.
JUST IN:
– Watcher.Guru (@WatcherGuru) July 12, 2024
A US Bitcoin reserve would act similarly to the Strategic Oil Reserve, stepping in as a financial lifeline when the economy hits a snag. Storing Bitcoin could allow Uncle Sam to avoid inflation and market fluctuations, exploiting Bitcoin’s appeal as a decentralized and scarce asset. Proponents see Bitcoin mirroring the rise of gold, presenting it as a modern strategic asset.
Senator Cynthia Lummis defends this vision by declaring: “WE WILL BUILD A STRATEGIC BITCOIN RESERVE,” emphasizing her commitment to integrating Bitcoin into the national economic strategy.
At 99Bitcoins we are very optimistic. It’s not that complicated. Other countries will have to keep pace with the American Bitcoin stack.
BTC is going ballistic.
Anyway, that’s all we have for this week’s edition of Feel good Friday! Enjoy this bull run. We are just getting started.
EXPLORE: Italy cuts cryptocurrency tax hike, proposes 28% levy on capital gains
Join the 99Bitcoins News Discord here for the latest market updates
The article Feel Good Friday: why is XRP pumping, Polymarket elections and the United States buying 1 million BTC? appears first on .
