Bitcoin Price Prediction: BTC Stays Bullish Near $48,500; More Buying Ahead?
Bitcoin maintains a bullish trajectory, trading near $48,500 on Monday, underscoring a positive outlook for Bitcoin price predictions. Amidst evolving market strategies, Kraken’s executive decision to bypass Super Bowl LVIII advertising highlights a shift from broad, hype-driven exposure to a focus on educational outreach within the cryptocurrency realm.
This strategic pivot reflects a broader industry trend towards building long-term legitimacy and fostering global adoption, diverging from the spectacle of previous crypto ads. The absence of Bitcoin ETF advertisements at such high-visibility events points to a nuanced approach to cryptocurrency marketing, balancing immediate visibility with sustainable growth and awareness.
Prominent cryptocurrency exchange Kraken has chosen not to run an advertisement during Super Bowl LVIII, stating that its American-centric strategy conflicts with its worldwide goals. This is in contrast to prior cryptocurrency appearances in advertisements, most notably FTX’s with comedian Larry David in 2022, right before its collapse.
Mayur Gupta, the chief marketing officer of Kraken, emphasizes a move away from hype and toward education in cryptocurrency marketing. With over 100 million people watching the Super Bowl every year, there was conjecture about possible Bitcoin ETF advertisements after the SEC approved them.
No spot bitcoin ETF ads during Super Bowl…
Not huge surprise given cost (& paltry ETF expense ratios), but would have created *enormous* buzz.
via @EleanorTerrett pic.twitter.com/kPAZ9i3zcW
— Nate Geraci (@NateGeraci) February 10, 2024
But big companies like BlackRock choose not to, supporting VanEck’s theory that there might be benefits to the lack of cryptocurrency advertisements.
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