1. Analyst's Prediction:
   • Michael van de Poppe, a prominent figure in cryptocurrency analysis, suggests a forthcoming shift in the crypto market, anticipating a surge in the value of Ethereum and other altcoins in the first quarter of the following year.
2. Market Indicator: Bitcoin Dominance Chart:
   • Van de Poppe's insights are based on his analysis of the Bitcoin dominance chart, a tool that measures Bitcoin's market share relative to the combined value of all cryptocurrencies.
   • The Bitcoin dominance is noted as 53.61%, and van de Poppe suggests that this figure is under scrutiny for potential change.
3. Ethereum Momentum:
   • Although Ethereum has not exhibited significant momentum at the moment, van de Poppe believes this is about to change.
   • His analysis suggests an upcoming trend where capital will flow from Bitcoin to Ethereum, historically signaling a boost for altcoins.
4. Altcoin Strength and Anticipation:
   • Van de Poppe points to the nascent strength in the altcoin sector, noting that even without significant momentum from Ethereum, altcoins like NEAR Protocol, Avalanche, and Solana have been outperforming expectations.
   • The gain in momentum across various altcoins supports the anticipation of a sustained surge in their value, aligning with the predicted peak in Bitcoin dominance.
5. Broader Market Factors:
   • The broader economic factors often influence the crypto market, as seen in Bitcoin's recovery from a slump to $40,000 and climbing to about $43,000.
   • Analysts suggest that a breakthrough above $45,000 could be driven by unexpected favorable news or a spike in equity markets, while a drop below $41,000 might present a buying opportunity, dependent on market conditions and external factors.

Overall, van de Poppe's analysis suggests a potential shift in the crypto market dynamics, with a focus on the movement of capital from Bitcoin to Ethereum and the subsequent positive impact on altcoins. Traders and investors will likely monitor these trends closely to make informed decisions in the evolving market landscape.

Coinbase Stock is Up 44% Over Last 30 Days as Bitcoin ETF Hype Grows

Spot Bitcoin ETFs Hype a Major Catalyst for BTC Rally:

• Coinbase's stock (NASDAQ: COIN) has surged over 44% in the past 30 days, fueled by the latest crypto bull run driven by growing excitement over spot exchange-traded funds (ETFs).
• Recent investment firm Compass Point raised Coinbase's price target from $145 to $200, joining other analysts in acknowledging the exchange's growth potential.
• The crypto market's recent challenges, including the leadership shuffle at Binance due to regulatory scrutiny, haven't disrupted Bitcoin's uptrend.
• Bitcoin broke above the $40,000 threshold, with expectations of an imminent approval for spot Bitcoin ETFs in the US, which would enhance mainstream and institutional adoption.

Coinbase Up 355% in 2023; Some Analysts Think There’s More to Come:

• Coinbase's shares have witnessed a remarkable surge of more than 355% in 2023, outperforming even the best performers on the S&P 500, such as Nvidia (NASDAQ: NVDA).
• The recent crypto market rebound, particularly following Binance's regulatory hurdles and Changpeng Zhao's resignation, worked in favor of Coinbase.
• Coinbase's stock soared around 45% in the past month, benefiting from positive developments related to ETFs.
• Bitcoin's price, at the time of writing, was just below $43,000, contributing to renewed investor optimism and positively impacting crypto-related stocks like Coinbase.
• The impending Bitcoin ETF approval and expected rate cuts could act as further catalysts for crypto assets, though uncertainties due to their volatile nature persist.
• Some analysts remain bullish on Coinbase, with Needham analysts raising their price target to $160 from $120, and Compass Point increasing its price objective to $200, implying a potential upside of more than 30% from its current level.

[BONUS - GLOBAL ECOONOMY NEWS]

5 New Arab Countries Look To Join BRICS Alliance

1. BRICS Expansion and Arab Countries:
   • During the 15th summit in Johannesburg, the BRICS alliance invited four Arab countries—Saudi Arabia, the UAE, Egypt, and later, three additional countries: Iran, Ethiopia, and Argentina.
   • Argentina is reported to be the first country to reject BRICS membership under its newly elected president Javier Milei.
2. Five New Arab Countries Interested:
   • In the wake of the expansion, five additional Arab countries are expressing interest in joining the BRICS alliance: Algeria, Bahrain, Kuwait, Morocco, and Palestine.
   • The motivation behind this interest is cited as a desire to reduce dependency on the US dollar and promote the use of local currencies in global trade.
3. Global Trade Shift and BRICS:
   • The BRICS alliance aims to cut ties with the US dollar and diminish its global supremacy, potentially impacting various sectors in the United States.
   • The expansion and the interest of Arab countries in joining BRICS indicate a growing movement toward reducing reliance on traditional Western financial systems.
4. Additional Nations Interested:
   • Beyond the Arab countries, 20 other nations have expressed their interest in joining the BRICS alliance.
   • Among these nations, Pakistan and Nigeria are specifically mentioned, with Pakistan seeking Russia's assistance in joining the bloc.
5. Potential Impact on Traditional Markets:
   • The united BRICS alliance, if expanded with the inclusion of new Arab countries and others, could have significant implications for traditional markets and put pressure on the West and the United States.
6. Global Reach of BRICS:
   • The potential inclusion of countries from the Arab world, Africa, Asia, and the global south suggests that the BRICS alliance could extend its influence across a broad geographic spectrum.
7. Geopolitical Implications:
   • The expansion of BRICS and the interest from various countries signal geopolitical shifts and challenges to the traditional dominance of Western powers.

In summary, the evolving dynamics of the BRICS alliance, including new Arab countries expressing interest, highlight a changing landscape in global geopolitics and financial systems, with potential consequences for traditional markets and the influence of the US dollar.