Arthur Hayes, co-founder of BitMEX, believes that cryptocurrencies are poised for a gradual upward trend. US Monetary Policy Boost Hayes attributes this to the “stealth money printing policies” of the US Treasury and Federal Reserve. He says that the gradual injection of liquidity into the economy will support crypto prices. Buying Opportunities Hayes sees the…
Quant analyst PlanB believes Bitcoin (BTC) could reach six figures before the end of 2024. Miner Revenue Recovery According to PlanB, Bitcoin’s price is likely to double to recover the revenue losses miners experienced due to the April halving. “The only way for mining revenue to recover is the price doubles,” he said. “So estimating…
Arthur Hayes, the co-founder of BitMEX, has shared his insights on Bitcoin’s recent price movements. Local Bottom Reached Hayes believes Bitcoin has found a local bottom at around $58,600. He predicts it won’t fall below this level again soon. Range-Bound Action Ahead Hayes forecasts that Bitcoin will rally above $60,000 and then trade between $60,000…
Bitcoin has made a strong comeback, rising above $63,000 after a week of bearish pressure. But will this rally last? Sentiment Shift and FOMO Analysts at Santiment report a shift in sentiment among investors. Traders are moving from short positions to long positions, indicating renewed optimism. However, they warn against excessive FOMO (fear of missing…
Ethereum (ETH) has made a strong recovery after facing resistance at $2,871. Since then, the price has climbed over 9%. Technical Indicators 100-Day Moving Average and Trendline:ETH is currently approaching these indicators but is still trading below them. This suggests a potential reversal could occur. RSI Indicator:The RSI signal line is above 50, indicating bullish…
An anonymous crypto trader has lost a staggering $71 million in an address poisoning scam, highlighting the ongoing threat to crypto investors. Address Poisoning: A Deceptive Attack Address poisoning occurs when scammers create fake addresses that closely resemble legitimate addresses. They trick victims into sending their crypto to these fraudulent addresses, stealing their funds. In…
Friend.tech, a social media platform built on blockchain, wanted to celebrate the launch of its new version with an airdrop of its FRIEND tokens. But things didn’t go as planned. Airdrop Chaos On May 3rd, Friend.tech airdropped FRIEND tokens to its users. The price of the token shot up to $167 but then crashed to…
Whales Accumulate Bitcoin Bitcoin investors have been on a wild ride lately. But amidst the recent market turmoil, there are signs of a potential rebound. One key factor driving this optimism is the recent buying spree by Bitcoin whales. These large-scale investors have been accumulating the digital currency at a rapid pace, signaling their belief…
DeFi: Revolutionizing Financial Services DeFi (decentralized finance) has emerged as a game-changer in finance, offering modern and efficient alternatives to traditional institutions. Smart contracts automate financial transactions, eliminating intermediaries and providing access to competitive interest rates for lending, borrowing, trading, and saving. AI: Enhancing DeFi’s Capabilities Artificial intelligence (AI) is poised to supercharge DeFi. Its…
Off-Balance Sheet Holdings According to government data, JPMorgan Chase, Bank of America, and Citibank have amassed a staggering $7.4 trillion in assets that are not listed on their balance sheets. These assets are considered “off-balance sheet” and include various financial instruments such as loans, letters of credit, and derivatives. Historical Concerns Off-balance sheet accounting has…
