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Have a good weekend🥂🫶😏

Ticker: NVIDIA
Trade opening time: november 8, 2023 14:10
Trade Closing Time: november 10, 2023 20:56
Position direction: long(buy)
Leverage: 1:10
Position opening price:460.100USD
Position closing price:480.000USD
Stop Loss:455.000USD
Take profit:480.000USD

🚀 Why BTC grew and whether it will be able to continue growing

On November 9, BTC began to grow sharply. In a few hours, the cryptocurrency rose in price by almost 6% and approached the $38,000 mark.

🔼 The reason for this was the news that the SEC entered into negotiations with Grayscale, the topic of which was the conversion of the organization's BTC fund into a spot BTC-ETF.

Also, interest in BTC was fueled by Bloomberg analysts' reports that the SEC has a window open until November 17 to approve applications to launch the instrument. The timing is related to the finalization of accepting comments on the applications.

💬 Some members of the crypto community believe that a pullback awaits BTC after it breaks through the $36,000 level. Such sharp rate hikes often turn into a correction. However, many call the breakthrough of the $36,000 level the official start of the bull market.

When will the spot BTC ETF be introduced?

Once the application is approved by the SEC - the spot BTC ETF will not be added immediately. There are 2 paths that need to be taken to launch the ETF. Even if the Forms 19b-4 that applicants have filed are approved, the S-1 registration statements will still need approval from the Corp Fin division to reconcile.

It could take months to fully introduce the spot ETF as an instrument. So don't get excited ahead of time.

💻 Futureverse has partnered with NVIDIA

Futureverse builds tools for artificial intelligence, web3, and meta-universes.

To make their products even more technologically advanced, they have joined the NVIDIA Inception program and will use NVIDIA's DGX H100 AI supercomputers to power their content.

The SEC's 8 day window to approve all 12 spot BTC-ETFs opens today.

The SEC has already started talks with Grayscale about a spot BTC-ETF today. Bloomberg analysts Eric Balchunas and James Seyffarth predict a 90% probability that the Bitcoin ETF will be approved by the SEC within the next 60 days.

BTC is already cheering and showing gains towards the $37,000 mark.

Investment giant BlackRock, with over $9 trillion under management, registers Ethereum Trust and applies to launch a spot Ethereum-ETF.

ETH breaks through the $2,000 mark.

The NEAR Foundation and Polygon Labs announced a strategic partnership to co-develop zkWASM.
The zkWASM verification tool brings the NEAR protocol closer to Ethereum and allows the WASM chain to utilize Ethereum's liquidity.
zkWASM maximizes customization options for developers. Projects will be able to choose from multiple validation tools when building with CDK, whether it's running/migrating an EVM chain or building a WASM network to align more closely with Ethereum," said Polygon co-founder Sandeep Naival.

👥 Ripple has entered into two new partnerships

The company announced two initiatives aimed at growing business interests in the US and Africa.

🪙 Introducing the revamped Ripple Payments platform the company said it aims to attract a new brand of enterprise customers in the US with its cross-border payments solutions.

The platform is designed to serve customers who do not have their own money transfer license or do not have in-depth knowledge of cryptocurrency.

3️⃣ Ripple also announced a new partnership with fintech MFS Africa, now known as Onafriq. This partnership will bring the benefits of faster and more cost-effective cross-border payments to individuals looking to send money to Africa from around the world.

More than 86% of business people predict mass adoption of bitcoin, ether and Tether.

I think it's no secret that sociologists from Oxford University like to conduct various surveys and analyze situations. This time they conducted a survey among 251 CEOs from North America, Europe and Asia with questions about the adoption and globalization of cryptocurrencies.

85% of businessmen believe that the transition to a fully cashless economy will take no more than 10 years.

87% predict mass adoption of bitcoin, ether and Tether.

90% are confident - their companies will use digital currencies for the sake of keeping transactions private.

Also, interestingly, businesses prefer stablecoins as they are less volatile than BTC and ETH.

As for the IT sector, given the development and popularity of artificial intelligence, it was expected that the IT technology sector would be profitable. However, the actual figures have exceeded expectations, with over 95% of companies in this sector reporting better-than-expected results. The results of the "Fabulous Seven" in this sector - Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Meta* (NASDAQ:META), Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), and Tesla (NASDAQ:TSLA) - were mostly positive.

The most impressive growth in net profit was seen by Meta* with a 164% increase. IT giants Alphabet (Google) and Microsoft also showed very good results. Both companies are investing heavily in AI development and are already integrating these technologies into their products, such as search and cloud services. As a result, Alphabet's quarterly net profit increased by 42% on an annual basis, while Microsoft's increased by 20%.

Since the end of October, the US stock market, which had been in decline for several months, has been quickly recovering. Earnings season has begun, and now, more than half of all companies have reported their results, with the majority surpassing forecasts.

The banking sector has shown decent results as well. Despite the tightening of monetary policy leading to a high level of unrealized losses in this sector, the major players have reported profits in the third quarter of this year. JPMorgan's (NYSE: JPM) net profit increased by 35%, Bank of America (NYSE: BAC) by 10%, while Goldman Sachs (NYSE: GS) suffered a loss this time with a 32% decrease in net profit. Overall, the financial sector saw a 16.5% increase in profits.

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A former Ethereum advisor has claimed that Vitalik Buterin is the mastermind behind a major ETH fraud scheme.

Allegedly Joseph Lubin and Vitalik Buterin allegedly colluded with corrupt US government officials from some federal agencies.

And these schemes go far beyond what was done by FTX's CEO and founder, Sam Bankman-Fried.

Likewise, the SEC fails again in court.

The 2nd Circuit ruled in SEC v. Aron Govil that the SEC can only seek damages if it is first shown that "investors" suffered actual financial harm. In other words, no harm, no violation!

Enthusiasts launched 400 GROK tokens after the announcement of a chatbot from Ilon Musk's xAI company

Their total capitalization has already exceeded tens of millions of dollars. According to onchain data, one of the first GROK tokens of the ERC-20 standard appeared on November 4 and has 4,300 holders.

💸 The largest holders of the coin have more than $150,000 in unrealized gains from initial purchases of several thousand dollars in ETH.

Since any user can create a smart contract in the blockchain, tokens like this always appear on the wave of hype around a new project. A similar situation happened after Twitter's rebranding.

💬 However, the ease of launch opens up opportunities for attackers - some GROK developers have already pulled off several rug pull schemes.

The third week below the resistance level, I believe the price will hold above $34,500 - $34,000, and I'm anticipating another attempt to break above $36,000 (resistance block). Altcoins are showing good results, there is still room for altcoins to perform, they are progressing sequentially. Another week within this range would be sufficient for altcoins to complete their impulses.👀🧐👀

A country where AI will not be regulated🧐

Del Complex, a company, has sent a ship with 10,000 Nvidia H100 graphics cards on board into the ocean to deploy its AI capabilities. Since the barge is in neutral waters, it cannot be regulated or restricted by governmental agreements, the latest of which was recently signed by 28 countries at the AI security summit.

Based on the ship, the company plans to establish its own separate state for legal interaction with other countries. The vessel has autonomous sources of energy, including solar panels to power the AI, as well as armed security to protect against potential threats, such as pirates. The total value of the graphics cards on board exceeds $500 million.

On November 8th, we are expecting a speech by J. Powell 👀🇺🇸

Federal Reserve Balance:
- Decreased by $41.2 billion in one week.

Market Expectations (Fed Rate):
- 90% probability of a Pause at the December 13th meeting.
- The first interest rate cut is expected in May 2024.

Bostic, Federal Reserve Chair:
- I don't see the need for further interest rate hikes.
- I believe the Fed can maintain the rate at the current level for another 8-10 months.
- In my forecasts, there won't be a recession in the US.

Kashkari, Federal Reserve Chair:
- It's still too early to make a definitive conclusion on the need for further rate hikes by the Fed.

Barkin, Federal Reserve Chair:
- It's premature to talk about lowering the interest rate.