Oh, what a tangled web we weave when first we practice to conceive a Bitcoin rally! And what a delightful rally it promises to be, thanks to Nvidia’s massive valuation drop and a flurry of Initial Public Offerings (IPOs) from distinguished cryptocurrency firms. Just the sort of thing to set the crypto world abuzz with excitement!
Nvidia’s shares took a tumble, down nearly 17% on Jan. 27, losing a whopping $600 billion in value. A development that has left the experts at 10x Research positively giddy with excitement. Why, you ask? Because reduced spending on AI could help ease inflation, making the US Federal Reserve just a tad less hawkish. Ahem, we mean, “marginally less hawkish.”
“Reducing AI spending keeps share buybacks as a key driver of U.S. equity returns and eases inflationary pressures, addressing the Fed’s concerns and making them marginally less hawkish.” – 10x Research
But wait, there’s more! The upcoming IPOs from crypto firms, worth almost $100 billion, could create the perfect storm for Bitcoin’s next significant price breakout. A clear incentive to keep Bitcoin prices elevated, wouldn’t you say?
At least 10 large crypto firms are planning to go public in 2025, with a combined valuation of over $73.9 billion. Just imagine the financial shenanigans that will ensue!
Ah, but let’s not forget the $36 trillion US debt ceiling, which has been flashing a critical warning sign for Bitcoin liquidity. A temporary correction to $70,000 may be in order before the next leg up in the market cycle. But fear not, dear reader, for Raoul Pal, founder and CEO of Global Macro Investor, assures us that Bitcoin is set for a “local top” above $110,000 in January. A delightful prospect, indeed!
And so, we wait with bated breath for this grand crypto soiree to unfold. Will Nvidia and the IPOs work their magic? Only time will tell!
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2025-01-28 15:54