Crypto Roundup October 2023

It’s been one humdinger of a year so far, but we’re finally getting a glimpse of hope as Uptober pulls through once again. BTC cracked through to a new yearly high, likely on the back of potential good news from the BTC ETF camp. Sam Bankman-Fried’s trial grinds on, and the former Crypto King seems to be getting his just deserts. All in all, it looks like this last quarter of 2023 is shaping up to be fairly interesting. Here’s a few articles you might find interesting from the past few weeks:

1. Bitcoin soars to near 18-month high as ETF speculation mounts https://www.reuters.com/technology/bitcoin-leaps-2023-high-etf-bets-2023-10-24/

• While it remains pure speculation, public opinion is largely expecting an approval by the SEC
• This matters because it would allow investors access to crypto via the stock market, ushering a new wave of capital into the sector.
• BTC hit it’s yearly high in the last half of October

2. Bankman-Fried Trial Rages On

https://decrypt.co/199892/trial-sam-bankman-fried-live-blog-latest-news-insights

• At the time of writing, SBF has maintained his innocence
• Close friends, in addition to his ex-beau (Caroline Ellison) have taken the stand against SBF
• It’s speculated that some of the market’s upward trajectory is due, in part, to this product of nepotism getting his comeuppance. Time will tell

3. Bitcoin Flips Tesla In Market Cap With Recent BTC Bull Run

https://www.cryptotimes.io/bitcoin-flips-tesla-in-market-cap/

• In an interesting show of the times, BTC has surpassed Tesla’s worth
• There is some curiosity as to whether or not Elon Musk will address this development, but as of yet he has been silent. Has he learned a lesson after last bullrun’s debacle?

4. El Salvador has almost $20 million in unrealized losses in BTC

https://cryptoslate.com/el-salvador-has-almost-20-million-in-unrealized-losses-despite-bitcoins-recent-rally-to-35k/

• Despite BTC’s recent rally, El Salvador’s crypto holdings remain deep in the red
• Citizens continue to prefer transactions in USD
• Regardless, Vice President Felix Ulloa maintains that El Salvador’s adaptation has brought many investors to its shores, and in the long-term, will benefit the country

5. Somewhat unfortunately, PEPE coin is the biggest earner this month https://www.analyticsinsight.net/pepe-coin-shines-as-the-best-performing-crypto-of-the-week/

• The popular meme coin experienced an 88% gain in the third week of October
• On October 24, 2023, 6.9 trillion PEPE tokens (equivalent to approximately $6.76 million) were burned from the Pepe team address
• The importance of meme coins really can’t be overstated, regardless of logic OR feelings. Watch This Space!

Got any friends who are interested in Crypto? Forward this roundup along to them! Staying up-to-date is the best way to keep up with the trends and sentiment of the market. You never know who could benefit from this sort of news!