A well-known crypto analyst predicts that Bitcoin (BTC) could skyrocket to over $160,000 in this bull market. Logarithmic Growth Channel Analysis Dave the Wave, a popular analyst, uses logarithmic growth channels (LGC) to forecast market trends. He believes that Bitcoin is following a similar pattern to 2020, when it broke out of a channel and…
Investors Push for Higher Valuation FTX customers holding “Sam Coins” (Serum, MAPS, and OXY) are demanding millions from the bankrupt crypto firm. They argue that the tokens are worth far more than the “nearly worthless” valuation proposed by FTX’s experts. FTX’s Arguments FTX claims that the tokens have little value due to: Sam Bankman-Fried’s involvement…
Bitcoin Balance on Coinbase Drops Glassnode data shows that the amount of Bitcoin held on Coinbase has dropped to a nine-year low of 344,856. This suggests that investors are holding their Bitcoin for the long term, reducing the pressure on its price. Centralized Exchange Outflows Data from Santiment indicates a drop in Bitcoin held on…
SEC’s Silence Raises Concerns Bloomberg’s ETF expert, Eric Balchunas, predicts a mere 25% chance of a spot Ethereum exchange-traded fund (ETF) being approved by the SEC. He believes the SEC’s lack of engagement suggests a deliberate non-approval stance. Grayscale’s Optimistic Perspective Grayscale’s Chief Legal Officer, Craig Salm, offers a different view. He points out that…
Targeted Entities The US Treasury Department has designated 13 companies and 2 individuals for allegedly helping Russia evade sanctions through crypto services. These entities include: Companies operating in Russia’s financial and technology sectors Individuals developing and offering crypto services that enable sanctioned Russian entities to avoid sanctions Impact of Sanctions The sanctions prohibit any transactions…
The US Securities and Exchange Commission (SEC) is facing a lawsuit that challenges its lack of clear regulations for the crypto industry, particularly regarding crypto airdrops. Lawsuit Targets SEC’s Treatment of BEBA Token The DeFi Education Fund (DEF) and Beba Collection, a Texas-based apparel company, filed the lawsuit. They argue that the SEC’s aggressive enforcement…
Raoul Pal, CEO of Real Vision, believes that the “macro summer” is upon us, which will drive up the prices of Bitcoin (BTC) and altcoins. What is Macro Summer? According to Pal, macro summer refers to an increase in the ISM manufacturing index, an indicator of US economic activity. This increase is driven by liquidity,…
Arthur Hayes, co-founder of BitMEX, predicts a surge in demand for Ethereum (ETH) if the U.S. Securities and Exchange Commission (SEC) approves spot ETH exchange-traded funds (ETFs). ETF Hype Fueling ETH Demand Hayes believes the massive success of Bitcoin ETFs will pave the way for similar products for Ethereum and other crypto assets. He highlights…
Popular trader Michaël van de Poppe predicts that altcoins are poised for significant gains in the coming months. Altcoin Market Correction According to van de Poppe, the recent 16% correction in the altcoin market was a healthy part of a larger uptrend. He believes that many coins have bottomed out and is seeing “a lot…
Crypto expert Rekt Capital has spotted a striking resemblance between Bitcoin’s recent pre-halving dip and the one that happened in 2020 before the cryptocurrency skyrocketed to a new high. Pullback Matches 2020 Bitcoin’s current pullback is almost identical to the one it experienced before the 2020 halving. In both cases, the cryptocurrency fell by over…
