BITCOIN VALUE SURGES.


EL-ZION GLOBAL NETWORK NEWS.
CRYPTO WORLD.                      THOMAS LAKE.                        TUESDAY 5th DECEMBER 2023.          Cryptocurrencies extended gains on Tuesday, with bitcoin rallying to an almost 18-month high thanks to speculation that official approval for a bitcoin exchange-traded fund is imminent.Let the good times roll. After being stuck near the $38,000 mark for weeks, Bitcoin soared more than 5% on Sunday as it crossed $40,000 for the first time since April 2022. While this is still a ways from the currency's all-time high, the return of $40,000 Bitcoin is a significant psychological milestone and has triggered a wave of digital backslapping on the echo chamber known as Crypto Twitter, where too many of us spend far too much time.The glee over $40,000 was tempered by warnings, however. Some longtime crypto watchers warned the recent price action will bring about the full-blown return of the hucksters and scammers who made the industry so notorious in the past. Crypto journalist and Fortune alum David Z. Morris put it this way: "Hope you guys enjoyed chilling, once we cross $40k the normies will be back and things will get stupid and mostly bad again. If history teaches us anything, the enforcement actions of the past two years will mean exactly nothing because a whole new crop of morons will arrive."Morris wasn't the only one making this observation. And it's a fair concern since previous booms have gone like this: Bitcoin goes on a run, leading to buzz on social media, which pulls in a new crop of green investors, 95% of whom eschew any basic research as they try to get a piece of the new thing. It's not long before a good number of them stray beyond the confines of Bitcoin, Ethereum, and the handful of other reputable cryptocurrencies and—egged on by financial predators—purchase an "up-and-coming" token instead. Months later they find themselves holding a near worthless pool of BARF tokens and cursing the gym trainer or YouTube guy (hey there Lark) who persuaded them to set their modest savings on fire in the first place. have no doubt these forces are already revving up and, if Bitcoin approaches its all-time high of nearly $69,000, the con artists will return en masse. But I'm not quite as cynical as Morris. Despite the here-we-go-again sensation, there are three reasons to think this latest crypto bull market will be less driven by scams than the previous ones.

El-zion Global Network 2023.



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