The Breakdown The Five Most Important Stories in Crypto This Week
19 snips
Dec 21, 2024 
Scott Melker, a prominent crypto contributor, shares insights on this week's crucial market stories. He discusses the downward trend in crypto prices and the emotional impact on the community. Key topics include the transformative influence of BlackRock on Bitcoin adoption, alongside Coinbase's impressive revenue amid growing trading activity. The conversation also delves into institutional involvement and the potential recovery of the market, highlighting challenges and the optimistic outlook as we approach the holiday season.
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Bitcoin Volatility
- Bitcoin's price volatility might decrease with increased institutional involvement.
- This could lead to smaller drawdowns in bear markets, perhaps 30% instead of 80%.
Profit-Taking Strategy
- Consider taking profits if you're up significantly in the market, especially given current uncertainties.
- Remember that large gains in traditional markets like the S&P and NASDAQ may influence profit-taking.
BlackRock's Bitcoin Embrace
- BlackRock's CEO, Larry Fink, has embraced Bitcoin and blockchain technology.
- BlackRock is now educating its audience about Bitcoin, signifying a shift in institutional adoption.