Cryptocurrency analyst Kevin Svenson predicts a potential surge in Bitcoin’s value, estimating a rise of up to 201% from current levels. Target Price Ranges Based on historical data, Svenson projects three potential target price ranges: Minimum: $95,000 Median: $142,000 Maximum: $190,000 Svenson suggests a more realistic target of around $142,000, but acknowledges the possibility of…
Bitcoin Recovery After a sharp drop, Bitcoin has bounced back, rising from $61,000 to $67,000 on Wednesday. This has sparked optimism that a bullish trend may be on the horizon. However, Bitcoin is still below its all-time high of $73,000 reached last week. Correction Bottomed Out? Crypto experts believe that the recent price correction may…
Bitcoin’s recent surge from $60,000 to $68,000 has sparked optimism, but the cryptocurrency still faces obstacles in reaching its all-time high. ETF Outflows Weigh on Bitcoin Spot Bitcoin ETFs, which once fueled Bitcoin’s rise, are now experiencing outflows. Investors are withdrawing from the Grayscale Spot Bitcoin ETF due to high fees, mirroring a similar trend…
Extradition Ordered Do Kwon, the founder of TerraForm Labs, is being extradited to South Korea to answer charges related to the 2022 Terra ecosystem collapse. Montenegro’s appeals court has rejected his request to be extradited to the United States. Montenegro’s Decision The decision was based on the fact that South Korea submitted its extradition request…
Key Reasons: 1. FOMC Meeting: Optimism from Powell’s Remarks Federal Reserve Chair Jerome Powell’s dovish tone in the FOMC meeting reassured investors. Powell indicated potential interest rate cuts in 2024, despite high inflation. 2. Coinbase Premium Turns Green: Demand for Spot ETFs The Coinbase Premium, which reflects demand for spot Bitcoin ETFs, shifted to positive…
Binance Pay Partnership Shiba Inu has partnered with Binance Pay, Binance’s payment service. This has led to a 30% increase in SHIB transactions on Binance Pay year-over-year. SHIB is also among the top 6 most popular currencies for Binance Pay transactions. Marswap Aggregator Marswap, Shibarium’s aggregator, has launched and promises to reduce trading costs on…
Ethereum’s Regulatory Landscape Ethereum, the second-largest cryptocurrency, is facing regulatory scrutiny from the US Securities and Exchange Commission (SEC). The SEC’s investigation focuses on classifying Ether (ETH), Ethereum’s native token, as a security. This classification could have significant implications for the cryptocurrency market. Recent Developments Major financial institutions like BlackRock and Fidelity have applied for…
The XRP Ledger (XRPL) and Ripple are facing a crossroads, with concerns emerging that Ripple itself may be the biggest threat to the XRPL’s independence. Onledger’s Accusations Onledger, a prominent XRPL community member, has claimed that Ripple is the “greatest threat” to the XRPL. They allege that Ripple is planning to use an Ethereum Virtual…
Coinbase Lists Arkham (ARKM) Coinbase, the leading US cryptocurrency exchange, has added the altcoin project Arkham (ARKM) to its listing roadmap. ARKM is an “intel-to-earn” platform where users can buy exclusive access to specific information. De-Anonymizing Controversy ARKM has sparked controversy due to its de-anonymizing nature. Critics have accused it of promoting “snitch-to-earn” or “dox-to-earn”…
Sam Bankman-Fried’s legal team has slammed the prosecution’s sentencing recommendations as “disturbing.” Draconian Punishment In a letter to Judge Lewis A. Kaplan, Bankman-Fried’s attorneys argue that the proposed 40-50-year sentence is “draconian” and portrays their client as a “supervillain.” Distorted Reality The lawyers accuse the government of distorting the facts to support its “loss” narrative…
