The Skepticism Surrounding Digital Currencies Adrian Orr, the Governor of the Reserve Bank of New Zealand (RBNZ), shared his perspective on Bitcoin and other digital currencies during a parliamentary committee meeting. Orr expressed skepticism regarding Bitcoin’s ability to serve as a viable alternative or supplement to traditional fiat currencies. He also criticized stablecoins, labeling them…
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) could potentially be resolved through a settlement. The outcome of the case may be influenced by the upcoming US presidential election, which could lead to changes in the regulatory environment for the crypto industry. Ripple Case Update Under the leadership of…
Introduction: The newly introduced Ethereum token standard, ERC-404, made a grand entrance in the crypto market, outshining many other digital assets. However, as Bitcoin (BTC) regained momentum, investors shifted their focus, leading to a notable decline in the ERC-404 ecosystem. Significant Market Capitalization Drop: ERC-404 sector experienced a significant decline, with an overall market capitalization…
ETF Inflows as a Driving Force Ki Young Ju, the co-founder and CEO of CryptoQuant, believes that Bitcoin exchange-traded funds (ETF) inflows could propel Bitcoin to new heights. In a bullish scenario, he predicts that BTC could surpass $100,000 by the end of 2024. Metrics Behind the Prediction Ju’s prediction is based on two metrics:…
A crypto trader who predicted the 2023 crypto breakout believes Ethereum (ETH) is gearing up for a big surge. Resistance Level Crypto strategist DonAlt told his 56,900 YouTube subscribers that Ethereum is one resistance level away from igniting a 40% move to the upside. ETH/USD Breakout DonAlt said that a breakout on the ETH/USD pair…
Reversal of Short-Term Bearish Stance Arthur Hayes, founder of BitMEX, has changed his short-term bearish stance on Bitcoin (BTC) after the cryptocurrency’s recent surge. Earlier this year, Hayes had purchased put options for Bitcoin with a strike price of $35,000, anticipating a short-term price correction. New All-Time Highs Expected In a recent interview, Hayes expressed…
A renowned crypto analyst, Rekt Capital, believes that Bitcoin (BTC) has entered a bullish phase in anticipation of the upcoming halving event. Pre-Halving Rally Phase According to Rekt Capital, Bitcoin’s bull markets can be divided into three stages: Pre-halving rally Post-halving resistance Post-halving parabola He emphasizes that BTC has officially entered the pre-halving rally phase….
After a turbulent 2022, Bitcoin (BTC) is poised for a remarkable resurgence in 2024, according to a consensus of industry experts. This comprehensive analysis delves into the key factors driving this positive sentiment, including the highly anticipated Bitcoin halving event, surging institutional adoption, and the introduction of spot Bitcoin exchange-traded funds (ETFs). The Halving Event:…
On February 12, Bitcoin’s price soared past the $50,000 mark, reaching a peak of $49,990 on several exchanges. This remarkable rally was fueled by three main factors: spot Bitcoin ETF inflows, bullish signals from the options market, and supportive trends in the futures market. Spot Bitcoin ETF Inflows The surge in spot Bitcoin ETF inflows…
Bitcoin Supply in Profit Surges On-chain data shows that the Bitcoin Supply in Profit has neared the 95% mark during the recent rally. This indicator tracks the total percentage of the Bitcoin supply carrying some unrealized gain. Historical Significance of Percent Supply in Profit Analyst James Van Straten observes that historically, when the Bitcoin Percent…
