Crypto analyst Credible is sounding the alarm on Chainlink (LINK), predicting a significant correction after its recent surge. Mid-Cycle Top Reached Credible believes LINK has reached a mid-cycle top, indicating a potential pullback. He explains that after a 4x rally, a correction of 50-60% is natural and healthy. Elliott Wave Analysis Using Elliott Wave theory,…
Crypto analyst TechDev believes Bitcoin’s current market behavior mirrors the pre-rally period of 2017, which led to a massive 1,200% gain. Chart Comparison TechDev’s chart shows similarities between the 2017 bull run and the current market cycle. Both experienced bear market bottoms after major exchange crashes, followed by rallies and consolidation phases. RSI Indicator The…
Pig Butchering Scam The US Department of Justice (DOJ) has charged two Chinese nationals, Daren Li and Yicheng Zhang, with running a “pig butchering” crypto scam. The scheme involved luring victims with promises of high returns on crypto investments. Money Laundering Prosecutors allege that Li and Zhang laundered $73 million through shell companies and a…
Wells Fargo is facing a lawsuit accusing it of enabling an alleged $300 million Ponzi scheme that defrauded over 1,000 victims. Background In July 2021, Florida regulators filed a complaint against insurance company Seeman Holtz for selling unregistered securities and using investor funds to pay off earlier investors. Wells Fargo’s Role The lawsuit alleges that…
Institutional Investors Lead the Charge With the launch of Bitcoin ETFs in 2024, institutional investors have been making waves in the crypto market. Hedge funds and pensions are gobbling up Bitcoin through these ETFs, amassing a collective 250,000 BTC. Hedge Funds Fuel the Hype Financial giants like Millennium Management have invested billions in Bitcoin ETFs,…
Ethereum ETF Optimism Analyst Altcoin Psycho believes the market is underestimating the likelihood of a spot Ethereum (ETH) exchange-traded fund (ETF) being approved. He predicts a significant price surge if an ETF is approved. Memecoin Decline Altcoin Psycho also expects a shift in market focus from memecoins to blue-chip crypto projects. He believes memecoins have…
Coinbase Institutional believes an Ethereum (ETH) exchange-traded fund (ETF) is inevitable. The U.S. Securities and Exchange Commission (SEC) is likely considering it with the same rationale used to approve Bitcoin (BTC) ETFs earlier this year. The SEC had noted the strong correlation between spot BTC prices on the Chicago Mercantile Exchange (CME) and the spot…
Gavin Wood, the creator of Polkadot, believes that proof of personhood is essential for the widespread adoption of blockchain technology. What is Proof of Personhood? Proof of personhood is a mechanism that digitally verifies a person’s identity and humanity. It is a critical aspect of modern society, as it ensures that individuals are who they…
Fit21: A Make-or-Break Moment The US crypto industry is on edge as a crucial vote in Washington next week could reshape its future. The Financial Innovation and Technology for the 21st Century Act (Fit21) proposes a major shift in how the government regulates digital assets. Currently, the SEC and CFTC have overlapping authority over crypto….
Analyst Willy Woo believes Bitcoin (BTC) is poised for a new uptrend after a period of consolidation. Profit-Taking Phase Over Woo analyzed the Spent Output Profit Ratio (SOPR), which measures whether coins are being sold at a profit or loss. He found that BTC holders have completed profit-taking near record highs, indicating that sell pressure…
