Top trader DonAlt has issued a warning to Bitcoin (BTC) investors, stating that the monthly chart is on the verge of signaling a bearish trend. Monthly Close Critical According to DonAlt, Bitcoin needs to close the month above $56,000 to avoid a “catastrophic” sell signal. If the monthly close falls below this level, it could…
Crypto analyst Jamie Coutts predicts that cryptocurrencies will significantly outperform gold in the coming years. Gold’s Underperformance Coutts believes that gold will not match the expected 2-3x increase in market capitalization that crypto is expected to experience in this market cycle. He attributes this to the emergence of crypto as a “new asset class.” Comparison…
Economic Factors Driving Growth Veteran investor Luke Gromen believes Bitcoin (BTC) is poised for growth over the next year due to favorable macroeconomic conditions. He cites the US government’s massive debt of nearly $35 trillion as a key factor. Gromen argues that the Fed cannot prevent inflation from rising, which will push investors towards assets…
Bullish Predictions Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin’s future. She recently predicted that the cryptocurrency could reach $1.5 million by 2030, surpassing her previous estimate of $3.8 million. Emerging Market Adoption Wood believes that Bitcoin’s adoption in emerging markets, such as Nigeria, is a major driver of its growth. She cites…
Iceland, known for its breathtaking landscapes and renewable energy, is making a shift. The country is now focusing on food production instead of cryptocurrency mining. Why the Change? Iceland wants to become more self-sufficient and secure its food supply. Crypto mining, while using renewable energy, isn’t as important as sectors that directly benefit Icelanders. Benefits…
Advocacy for Bitcoin ETFs Bivu Das, Managing Director of Kraken UK, believes Bitcoin ETFs are essential for establishing the UK as a crypto hub. They offer a regulated and accessible way for investors to gain exposure to Bitcoin’s price movements. FCA’s Cautious Approach However, the Financial Conduct Authority (FCA) remains cautious. In 2021, they banned…
Preparing for the Bitcoin Halving The Bitcoin halving, where mining rewards are cut in half, is approaching. To stay profitable, US miners are upgrading their equipment. Why Machines Are Leaving the US Luxor Technology reports that 600,000 S19 series mining rigs are being moved out of the US, primarily to Africa and South America. These…
Chainlink (LINK), a decentralized oracle network, has emerged as the leader in recent crypto development activity, according to data from analytics firm Santiment. Key Findings Chainlink leads with an average of 451.23 GitHub events over the past 30 days. Cardano (ADA) follows closely with 444.7 events. Status (SNT) ranks third with 434.5 events. Optimism (OP)…
Allegations of Interest Rate Rigging Eight major financial institutions, including JPMorgan Chase and Bank of America, have agreed to pay $70 million to settle a decade-long lawsuit alleging widespread fraud and collusion. The whistleblower, Edelweiss Fund LLC, accused the banks of inflating interest rates on municipal bonds to generate millions in illicit profits. The bonds,…
Growth Signals Despite its price underperformance and regulatory uncertainty, Ethereum (ETH) is showing signs of growth, according to market intelligence firm IntoTheBlock. Increased Volume: The amount of ETH transferred on its mainnet has reached its highest point since May 2022. Layer-2 Adoption: The amount of ETH on layer-2 scaling solutions recently surpassed 10 million for…
