• Bitcoin’s price has soared towards $24,500 while Ethereum is following at a slower pace.
• Hong Kong is opening its doors to digital assets and investors, with plans to become a leading crypto hub in the region.
• Mike Novogratz predicts that Bitcoin could reach $30K this quarter due to increasing FOMO among customers.
Hong Kong Embraces Crypto
Hong Kong has announced that it will be opening its doors to digital assets and investors, with plans to become a leading crypto hub in the region. From June of this year, buying, selling, and trading crypto will be fully legal for all Hong Kong citizens, including mainland Chinese institutions. This development has generated a positive response from the markets, with prices rising by as much as 9% in just one day and expectations of more money from China flowing into the crypto markets.
Bitcoin Reaches 8 Month Highs
The cryptocurrency markets have experienced a significant surge in value partly due to these positive news out of Hong Kong. Bitcoin’s price has soared towards $24,500 while Ethereum is following at a slower pace. This surge led Bitcoin to break 8-month highs today.
Mike Novogratz Predicts Further Gains
Galaxy Digital’s founder and CEO Mike Novogratz believes that Bitcoin prices will reach $30,000 by the end of March due to increasing FOMO (Fear Of Missing Out) among customers. He highlighted the price action and excitement among customers which is building up to make his prediction a reality.
Ethereum Following Behind Bitcoin
At the same time as Bitcoin’s strong performance Ethereum’s value has been increasing but at a slower rate than Bitcoin’s growth rate. Many are wondering how far it can go and whether or not it can catch up or even surpass Bitcoin’s gains in the future.
Conclusion
Overall these developments have been extremely positive for both cryptocurrencies as they continue on their upwards trajectory together but at different rates so we’ll have to wait and see what happens in the coming months ahead!