See also: Chivo Bitcoin ATMs Come to 10 US Cities From El SalvadorĬoinstar launched the Walmart pilot program in conjunction with Coinme, Walmart’s communications director, Molly Blakeman, told Coindesk. located at supermarkets and gas stations, and Coinstar operates 4,400 bitcoin kiosks in 33 states. There are more than 25,000 bitcoin ATMs in the U.S. via a partnership with coin-cashing machine company Coinstar and crypto-cash exchange Coinme.Īlthough the initial trial period is just 200 ATMs, the launch is part of a wider plan to install 8,000 bitcoin ATMs in the country, according to multiple reports. CNBC's Michael Bloom contributed reporting.Walmart is bringing bitcoin ATMs to 200 locations across the U.S. ![]() "This argument seems unconvincing as the bitcoin halving event and its effect are predictable and in our opinion are well factored into bitcoin price," he said. Additionally, he touched on the upcoming Bitcoin halving, expected in spring 2024, which is designed to reduce the supply of the cryptocurrency and historically marks the beginning of the next big bull run in crypto. JPMorgan is "cautious on crypto markets going forward with a high chance of 'buy the rumor, sell the fact" effect post the forthcoming SEC approval of spot bitcoin ETFs," Panigirtzoglou said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception. JPMorgan's Nikolaos Panigirtzoglou said the current ETF-fueled rally "seems rather overdone." "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. Investors seem to agree ETF approval could come in the first half of 2024, although some like Galaxy Digital CEO Mike Novogratz think it could be as soon as this year. The next step for bitcoin The leader of the crypto market has been climbing on growing optimism about a potential bitcoin ETF approval, but it remains to be seen if that can sustain the new high in its price between now and then – or how altcoins would follow. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. It's also normal when bitcoin rallies to see a period of ether and altcoins play catch-up, according to Ryan Rasmussen, analyst at Bitwise Asset Management. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. High yields tend to put pressure on crypto, as with any other risk asset. Treasury yield falling to start November – after touching a 16-year high in late October – it's not exactly surprising. "Many of the moves are in the ballpark of parabolic, so we'll be watching to see if a more meaningful regime change is at hand or if they succumb to overbought conditions." It's not exactly clear why altcoins had such a great week, but between bitcoin's recent break above $30,000 and the 10-year U.S. "Many are deeply overbought and a part of concerning longer term trends, but the drastic improvement certainly can't go ignored," Ginsberg added. "That is no longer the case as altcoins across the board woke up and joined in bitcoin's rally over the past two weeks." Now, traders are keeping an eye on whether the gains hold, or if this is just a brief risk-on moment. Bitcoin has led the charge to the upside, while ETH and altcoins couldn't catch a bid," said Rob Ginsberg, an analyst at Wolfe Research. ![]() ![]() "The crypto space has largely been a one-man show over the past year. Bitcoin and ether rose 8% and 15%, respectively, for the week. Solana notched a 40% weekly gain, Polygon's MATIC token gained 25% and Cardano's ADA advanced 17%. While bitcoin touched an 18-month high and ether broke through the key psychological level of $2,000 for the first time since April, the real spikes were in the rest of the crypto market. Personal Loans for 670 Credit Score or LowerĪltcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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