July 9, 2021

What This Crypto SPAC Could Do For The Cryptocurrency Market

Frank Cabibi

7/9/2021

Private crypto firm, Bullish, has agreed to go public through a $9 billion deal with Far Peak Acquisition Corp (FPAC). This new exchange company will likely be set to go public near the end of 2021, according to news sources. Bullish is funded by Block.one which holds $10 billion in crypto assets and cash. When the deal goes through, Bullish will get $600 million in proceeds and an extra $300 million in PIPE.

Our outlook

Bullish Global's debut in the public market will be yet another milestone in the cryptocurrency world. Whether you are bullish or not, companies will continue to try to work in this field and improve the technology surrounding it, just like any emerging industry that's got high speculation. When this happens, lots of money, attention and time goes into it, and this will only fuel cryptocurrency further. That probably means that we will see less volatility over time as institutions pile in, so investing now hold significant risk but could also pay off in the long run.

Trade Setups

BTCUSD

Bitcoin up on the day but is also forming lower lows and highs on the 4H. Price may come up to test this falling trend line, and it would need a break above to prove that we'll see a bullish move. Otherwise, bitcoin might form a lower low.

ADAUSD

Cardano found a bottom around 1.280s and showed rejection on the 4H timeframe. Price could come up to test resistance at the falling trend line, and a break could mean a test near 1.570s.

A1 Edgefinder

Watchlist
Save time looking for setups with the EdgeFinder's watchlist! In a glance, see the EdgeFinder's current top buys and top sells.

Discount code: 'READER'

Access Now

Free

Trading Plan Template
Struggling to build a successful trading plan? Download our template to get started today!
Download
Trading Gold & USD Before NFP

Gold is up nearly half a percent today while USD down a third of one as of 10:18 am EST. As we wait for the upcoming and looming NFP numbers this Friday, we can assess the economic data we already have. EdgeFinder Analysis The stock market sighed in relief after the debt ceiling bill finally […]

Read More
Can The Dollar Break This Pivotal Level?

The dollar flew higher last week as a result of resilient economic news along with a higher PCE than expected. Now the DXY has reached a decision point in price action. This week's NFP will help determine the sentiment around the potential June rate hike. Here is what we are looking at: EdgeFinder Analysis USDCAD […]

Read More
Dovish Banks Could Crash These Currencies

Considerably dovish news from central banks in the US and New Zealand has caused a major stir in the markets. Governor Orr and Vice Chairman Powell both released some reassuring news for the economy in the long term. But what does this mean for USD and NZD? EdgeFinder Analysis GBPNZD is a pair that should […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
VIP
Menu
homesmartphonelaptop-phonemenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram