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FameEX Morning Crypto News Recap | December 15, 2023
2023-12-15 12:29:16
Analysts Anticipate 'Increased Cryptocurrency Prices in 2024' Regardless of Approval of Spot Bitcoin ETF
Matrixport's research reveals a substantial uptick in U.S. money market fund deposits, doubling since the COVID-19 pandemic's onset. This growth is seen as a positive indicator for the cryptocurrency market's continued expansion. Analysts are confident that Bitcoin will sustain its upward trajectory, irrespective of the approval of a spot exchange-traded fund (ETF), citing various factors underpinning its demand.
Don't Be Too Optimistic About Fed's 'Dovish' Stance – Expect Another Rate Hike
The December Federal Open Market Committee (FOMC) meeting boosted markets, with risk assets, including cryptocurrencies, surging due to the Fed's apparent dovish stance. However, in 2024, the Federal Reserve may face challenges in tackling price increases, potentially leading to rate hikes to achieve their 2% inflation target, potentially surprising markets.
Industry Association Claims Majority of UK MPs Lack Understanding of Cryptocurrency CryptoUK, a self-regulatory trade association, has revealed that only about 5% of all Members of Parliament (MPs) in the United Kingdom have publicly addressed topics related to cryptocurrency and blockchain, indicating a notable gap in understanding among lawmakers. However, MPs Andrew Griffith and Lisa Cameron have emerged as prominent advocates for cryptocurrencies within the UK government. Bank of Korea Governor Emphasizes the Urgent Need for Central Bank Digital Currency Bank of Korea Governor Rhee Chang-yong emphasized the urgency of introducing a central bank digital currency (CBDC) due to the challenges posed by stablecoins like USDT and USDC. Speaking at a digital currency conference in Seoul, Rhee highlighted the need for central banks to address these challenges to their monetary policy operations. South Korean Web3 Company Secures $140 Million in Funding South Korean NFT developer Line Next has secured a substantial $140 million investment on December 13. The investment was led by a consortium featuring Peter Thiel-backed private equity firm Crescendo Equity Partners. This funding marks the most substantial blockchain series funding round in Asia for the year 2023, underscoring the growing significance of blockchain and NFT projects in the region. China's AI Market Surpasses $1.42 Trillion in 2023 China's AI market surged to approximately 10 trillion yuan ($1.42 trillion) in 2023, as reported by the state-owned China Electronics Information Industry Development Academy (CEIIDA). This growth was driven by the widespread adoption of generative AI across various sectors, including manufacturing, retail, and information technology. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
