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.
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.
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.
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.
9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]
9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]
9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]
9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]