Shark Tank Superstar Investor Believes That Specific Event Will Trigger Crypto Bull Market

It goes without saying that the crypto market continues to struggle under the current circumstances of the international market. While various financial markets started seeing major sell-offs, the crypto market was the first one to be hit by this, as no one wanted to take on riskier investments.

After losing nearly 60% of the total market cap and all major cryptocurrencies falling by a significant degree, the market as a whole is at its lowest point in years.

Despite various high-profile partnerships still happening throughout the market right now, the crypto market still needs a major bullish push to bring plenty of investors into the market.

And for Shark Tank Personality Mr. Wonderful, that major push will only come after a specific event. More specifically, Kevin O’Leary is saying that after a specific stablecoin bill manages to pass, the market could break past the 22,000 trading range.

Bitcoin is Still Stagnating

For possibly weeks now, Bitcoin has only stagnated throughout the market, unable to push past the $20,000 mark. Despite various analysts saying that Bitcoin will take its time to bounce back, they cannot be certain of a specific time.

However, with the insight that O’Leary is bringing to the table, this could be a major game changer for most investors who are still looking for that major break. Because if Bitcoin manages to make any major moves in the next few days or weeks, it leaves ripples throughout the market and will allow most investors to look forward to what the market has to offer next.

A Major Prediction from Mr. Wonderful

Throughout his years of experience in the investing market, O’Leary knows enough about various markets that he can predict when a big change is coming. He can tell when the match is going to strike, and according to his latest prediction, the market will really start to move up after a stable coin bill passes.

During his brief appearance at the Crypto Banter, a YouTube channel focusing on DeFi and crypto, he made a major prediction. According to O’Leary, congress is looking to pass the Stablecoin Transparency Act after November 8.

This also happens to be the same date as the midterm elections, so all of the stars are aligning for cryptocurrencies as a whole.

Details of the Bill

O’Leary has offered further insight into the bill and what it means for everyone who is going to be looking to invest in crypto. The gist of the bill, as Mr. Wonderful puts it, is that the US dollar becomes a worldwide default payment system, which everyone can support.

So as soon as the bill makes it past the congress floor, people will be a lot more open to the idea of investing in cryptocurrencies.

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BitMEX Founder Lays Down Advice On How To Find The Next Biggest Altcoin

As the crypto market goes through a rebirth of sorts, this is the right time for altcoins to make their comeback. As all of the major cryptocurrencies are either falling or stagnating, altcoins can finally compete on fairgrounds and bring in plenty of investors.

But when it comes to finding the next big altcoin that is going to get you rich, it can be close to impossible. The worst part about making the wrong investment is that it can eventually lead you down a path of not getting what you really want.

Fortunately, If there is one thing that the crypto market is, it is supportive, which is why the founder of BitMEX has offered his advice on how to find the next big altcoin. Through his years of experience in the crypto market, he has a keen eye for opportunities that could grow into something special.

Looking at Survivorship Bias

In an interview, BitMEX founder really went into detail about all of the ways that people can really start making smarter investments in an altcoin. More specifically, he is teaching people how to look out for the most profitable altcoin that people can find.

The first thing that he emphasizes is looking at survivability bias and trying to find out if an altcoin will survive. Remember, thinking that an altcoin will just burst through the scene and will instantly reach its potential is wishful thinking.

Instead, you should first think about if an altcoin will likely survive in the current climate or not. This is a very important thing to decide on your own since you need to look at the charts and data to see if you can truly make it.

Trying to Make the Rebound

When looking at the profitability of an altcoin, you really don’t want to look at if it can reach its true or previous potential. Suppose a token started at 100 and dropped down to 0. If you buy at 0 and it increases by 10x, that’s not a bad pull.

Sure, it is nowhere near what it was originally, but that doesn’t mean that you don’t make a hefty profit. So if things go well, you can easily rack up impressive profits from your altcoins. And even if they can look a little small by comparison, you can build your way up from there.

It’s Really Impossible to Know

Despite having years of experience in the field, BitMEX CEO still can’t tell if this is about as low as it goes for cryptocurrencies. But even if you can’t find out when certain coins are going to the moon, you can find which ones will. So it usually comes down to the numbers and patience. As long as investors have both, Hayes thinks that they’re golden.

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Bitcoin Plummets Down To $18,000 As Crypto Stocks Take A Hit

This earnings season has been rough for all sorts of equities, but this is especially the case for crypto stocks.

That’s because the Consumer Price Index report that came out on Thursday showed that inflation would reach a four-decade high of 6.6 percent in September.

Meanwhile, headline inflation topped forecasts by peaking at 8.2 percent, which is higher than Wall Street’s expectations of 8.1 percent.

Latest Inflation Data In Consumer Price Index Sends Bitcoin Tumbling

The inflation data from the Thursday report sent Bitcoin prices tumbling down to $18,100, which is close to its previous yearly low of $17,600.

As of now, the price has gone up by a modest $300. Last month, it fell by around 5 percent within an hour after the August inflation report was released.

In May, prices dropped by around 7 percent after the April consumer index report came out. Since then, the top-ranking crypto has somewhat recovered and is struggling to maintain an $18,000 level since the start of July.

Moreover, most US stock market averages dipped by over 2 percent. Fortunately, they’re bouncing back, with stocks like the S&P 500 closing the gap to 1 percent.

Mining stocks such as Core Scientific, Marathon Digital, and Riot Blockchain are trading lower by 7 percent.

Meanwhile, Argo Blockchain in the UK underperformed compared to the rest of the sector, going down by 16.5 percent. This comes after it made the decision to raise capital last week.

Analyst Downgrades Argo Recommendation From Buy To Neutral

In a research note dated October 12, Darren Aftahi, a Roth Capital analyst, downgraded his Argo recommendation from ‘buy’ to ‘neutral’ with a new $2 price target.

Aftahi argues that despite Argo taking steps to control its balance sheet, growth will eventually be limited. As a result, the mining company will lose its market share to competitors.

In addition, falling Bitcoin prices and increasing power costs aren’t doing Argo’s margins any favors. MicroStrategy holds 130,000 BTC worth $2.4 billion and fell by 6.7 percent, while popular crypto exchange Coinbase is down by 11.5 percent.

Thursday Report Shows Inflation Is Becoming More Difficult to Control

Figures in the latest consumer price index report show that inflation is becoming harder to control. This is despite the numerous interest rate hikes by the Federal Reserve that caused crypto prices and stocks to drop.

According to a partner of Dexterity Capital, Michael Safai, such an inflation reading is terrible news for traders. Nevertheless, he explains that knowing the outlook will be less optimistic than what everyone hoped for will prove beneficial.

It will allow some traders to pick up bargains, while others try to mitigate their losses, causing volumes to pick up.

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Just When Overall Crypto Market Is Facing A Downtrend, Huobi Token Has Recorded A Rally

It is no longer a secret that the entire cryptocurrency market has been moving towards a great demise in recent months.

Despite the efforts, crypto firms and institutional adoptions have failed to move the crypto-verse toward a recovery.

Huobi Token is Performing Well

However, there is one particular token that has been demonstrating a strong performance against all odds. The token launched by Huobi Global, a cryptocurrency exchange seems to be recording a rally.

According to data, the trading price of the Huobi Token (HT) has recorded a 12% surge. The digital asset has recorded a surge in value in the past 24 hours.

The recent rally achieved by the Huobi Token has moved it into the list of a handful of cryptocurrencies demonstrating strong gains despite the market downtrend.

Running Week Performance

It has been a remarkable week for the Huobi Token investors to see that the token has demonstrated an even better performance in the running week.

The price chart shows that the trading price of HT has recorded more than an 80% surge in the running week. Just when the week began, HT started to demonstrate strong performance.

The performance demonstrated by HT in the running week is the best it has delivered since February 2021.

Huobi Global Helped HT

Huobi Global, the exchange behind the issuance of the Huobi Token is the very reason that has helped form a great rally surrounding the token.

Just recently, the Huobi Global exchange made an announcement about launching a new trading feature. The exchange announced that the users would be able to access Starfish Finance (SEAN) spot trading.

This worked as a lucky charm for the Huobi Token sending a frenzy throughout the HT community. The investors have started buying the token on a large scale, thus, a strong rally.

About Capital Management’s Involvement 

A strong rally followed by a strong trading volume was also the result of the strong interest of the investors in the latest reports.

The reason behind HT’s strong weekly gains is based on the announcement made by About Capital Management.

The investment firm based in Hong Kong made an announcement on October 8 that it was planning to buy Huobi Global.

This came as a huge surprise for the entire HT community who were aiming to cash in on the opportunity and generate more gains from the latest reports.

Justin Sun’s Remarks

The founder of About Capital as well as the Tron blockchain project, Justin Sun praised the outstanding performance of HT.

He stated that they are very excited that they will be able to buy Huobi Global and bring more users to the exchange.

Their aim is to introduce many projects and make Huobi Global an even larger brand. This way, more adoption would come HT’s way which would eventually increase its demand in the global market.

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Flasko Likely To Become A Major Cryptocurrency As Both Cardano And Shiba Inu Continue To Plummet

Shiba Inu and Cardano continue to remain some of the best cryptocurrencies in the market to this day. They are consistently in the top ten of cryptocurrencies in the market, with Shiba Inu also becoming the biggest meme cryptocurrency in the entire market.

But as both of these cryptocurrencies continue to plummet to new lows, many are speculating about who will come up and take the place of these two old and reliable cryptocurrencies. And for the most part, the market has spoken, as the newest fan favorite cryptocurrency happens to be Flasko.

Due to the current downward trend of the entire market, Shiba Inu and Cardano have both had a hard time making it by. Cardano has especially seen its prices drop, as the company continues to struggle against the many promising projects that are coming along right now.

Shiba Inu Less Likely to Reach its All Time Peak

Shiba Inu remains one of the biggest meme tokens in the market right now and happens to be one of the most lucrative coins for the most part. But as various cryptocurrencies start to enter the market, it is becoming very obvious that Shiba Inu will not be able to reach its real price any time soon. If anything its prices are currently plummeting, and all of the investors are struggling as a result.

While Shiba Inu did start out as a meme coin in 2020, it was able to grow into a very widely respected cryptocurrency that has garnered respect from various veterans of the industry. The fact that it started out as a meme coin was not even a secret, as some of its biggest whales, which included the likes of Elon Musk, called it a meme coin with pride.

While Shiba Inu did show some impressive growth throughout its early days, its most recent performance has been disappointing, to say the least.

Cardano Investors are not holding on

Cardano was another major cryptocurrency that continued to struggle despite it playing all of the right cards. For the most part, Cardano did not make any foolish decisions and was rewarding all of its investors very well.

However, as the entire market hit a slump, one of the first cryptocurrencies to really struggle as a result was Cardano. And as this cryptocurrency continues to plummet without showing any signs of recovery, investors are losing faith.

Flasko is One of the More Impressive Investment Opportunities

Apart from a wide range of investment opportunities, it is becoming very obvious that Flasko is the current Golden Boy of the market. Not only is it offering better returns to investors, but it is also offering better rewards to the people who decide to stay.

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Hollywood Actor Anthony Hopkins’ First NFT Collection Sold Out in Seven Minutes

Apart from being one of the best actors, Oscar awards winner Anthony Hopkins has created another history in the non-fungible tokens industry. Anthony released his first NFT, called “The Eternal Collection,” on the NFT marketplace OpenSea, and they sold out within seven minutes. The NFT collection contains more than 1,000 original artworks based on Anthony Hopkin’s long career in the Hollywood industry.

The art series contains pieces from his performances in movies like Silence of the Lambs, which helped him win an Oscar award. He played the role of Hannibal Lecter in the movie. He also achieved fame for his role in the Westworld TV series. The artworks had titles on them like “The Lover,” “The Jester,” and “The Eternal.”

According to the art marketing team, these NFTs represent “an interpretation of the various characters Sir Anthony Hopkins portrayed” throughout his movie career. However, it’s important to note that the art series was created in collaboration with Orange Comet Inc., a Los Angeles-based Web3 agency. Hollywood producer Dave Broome is a co-founder of Orange Comet Inc., together with former NFL player Kurt Warner and Gloria and Emilio Estefan (the Cuban-American couple musicians).

But the release of the NFT collection was delayed for more than 45 minutes because of the high demand from users who wanted to purchase the art. Apart from being an owner of the artworks, buyers will also have the opportunity to get real-life treats with the actor. Some of these include getting autographed physical prints of the NFTs, a one-on-one meeting with him, and audio of Anthony Hopkins revealing the meaning of each artwork.

Hopkins’ History With Art

However, it is not the first time the Oscar winner is going into the art industry. According to him, he began painting in the late 1940s and had an art exhibition in 2015 at Hawaii’s Harte International Galleries. He has also organized exhibitions for artworks like semi-abstract portraits and landscapes in Las Vegas, London, Edinburg, and New York City.

Hopkins claimed the digital collections were inspired by English painter Lucian Freud and French cubist Francis Picabia. Although “The Eternal Collections” are his debut NFT collection, he has been involved in the NFT market.  Anthony Hopkins was among the actors featured in a 2021 movie directed by Rick Dugdale and released through the NFT platform Vuele.

This will likely be the last time he will get involved in the NFT market as the innovation keeps expanding. Reacting to the launch, he said: “Going into the non-fungible tokens (NFTs) world is like traveling to the moon because of the limitless dimensions of technology and art.”

However, some celebrities have been disappointed in the NFT market because of the low sales from their NFT collections. This shows that the market is not promised, no matter your level of popularity.

Anton_Ivanov / Shutterstock.com

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A Major Cryptocurrency Exchange Has Started Feeling Pressure From Crypto Market Downturn

Crypto.com, one of the largest cryptocurrency exchanges has also started showing signs of being impacted by the crypto market downturn.

The exchange has recently made a few decisions that would impact the reputation of cryptocurrencies both directly and indirectly.

The reports reveal that Crypto.com has started to scale down several of the sponsorship deals it had formed with multiple sports entities.

Crypto.com’s Goal behind Sponsorship Deals

In the past couple of years, the exchange partnered with multiple sports companies and organizations in order to form sponsorship contracts.

Crypto.com’s goal behind these deals was to gain as much recognition as possible. Sports are a major source of advertising a product or a company to millions of fans and viewers all over the world.

The exchange wanted to expose itself to the entire world. It has been advertising itself through multiple sponsorship deals be it a football t-shirt, an F1 car, or an entire football stadium.

By putting its logo through multiple mediums, the exchange created curiosity among the viewers not only in its services but also for cryptocurrencies.

It was becoming one of the reasons to bring the masses to the crypto sector, creating more awareness about crypto-blockchain in the mainstream sector.

Crypto.com Scales down its Deals

Unfortunately, not even Crypto.com, a major cryptocurrency exchange was able to save itself from the great crypto market downturn.

The crypto winter has been prolonged and is considered the longest downfall the industry has witnessed since 2020. The crypto downfall began in early 2022 and is yet to be fixed.

The cryptocurrency exchange recently announced that it had to lay off many of its employees. The reason was indeed the market downturn that forced the exchange to cut down its costs and save up as much money as possible.

The exchange has been trying to deal with the current downfall as best as it can but as the downfall continues, it has to make harsh decisions to survive.

Cancellation of Sponsorship Agreements

Just recently, one of the reporting firms known as Ad Age reported that Crypto.com had to cut down multiple sponsorship deals with sports companies.

Some of the major cuts with organizations include Twitch Rivals, an eSports tournament host, Qatar’s FIFA World Cup 2022, and Angel City Football Club of Los Angeles.

The firm has revealed that as per the inside sources, Crypto.com had been planning to do this since May. It is now that the company has proceeded with the deal cancellations after giving much thought to the entire process.

Crypto.com even backed out of the UEFA Champions League’s sponsorship deal that was worth $500 million.

In the future, the exchange may also back out from deals such as Formula 1 and the Australia Football League.

With the number of deals Crypto.com has cut, it is possible it may get sued by the partners and may end up getting bankrupt.

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