Tom Lee, the head of research at Fundstrat, is doubling down on his prediction that Bitcoin will hit $150,000. Mt. Gox Repayment Impact Lee believes that Bitcoin’s recent downturn is partly due to the upcoming repayment of Bitcoin by Mt. Gox to its creditors. However, he expects a “pretty sharp rebound” after this process is…
Miner Selling Pressure Eases Data shows that Bitcoin miners have been selling less recently, due to: Reduced Bitcoin transfers to exchanges for sale Exhaustion of the OTC Desk supply available to miners Impact on Bitcoin Price Miners’ heavy selling in June contributed to Bitcoin’s price drop. However, the decline in selling pressure is a positive…
Upcoming Hard Fork The Cardano Chang Hard Fork is still in the works, but it’s a major event for the ADA cryptocurrency. It’s expected to bring smart contract capabilities to the network, which could boost its value. 2021’s Epic Rally In 2021, the Cardano Alonzo Hard Fork led to a massive price surge for ADA….
Bitcoin Supply Surge Bitcoin has been trending upward, but some analysts are concerned about a potential supply glut. A massive influx of Bitcoin, estimated at $9 billion, has been linked to Mt. Gox’s planned user compensation. This could lead to a sell-off and drive prices down. Mt. Gox’s Impact Mt. Gox’s accelerated release of Bitcoin…
Binance US is facing a legal showdown with the Securities and Exchange Commission (SEC) after a judge ruled that the SEC’s lawsuit will continue. However, Binance remains confident in its case, as the judge dismissed several of the SEC’s key claims. Binance’s Preparations Binance US, the American branch of the crypto exchange, is preparing to…
Crypto analyst Javon Marks predicts a whopping 404% price increase for Dogecoin (DOGE), with a target of $0.6533. This surge could happen sooner than expected. Reasons for the Breakout Marks believes that Dogecoin’s price action suggests an imminent breakout. The move to $0.6533 would mark a yearly high for the meme coin and could signal…
Ethereum’s (ETH) price has taken a hit after briefly reaching $3,500 on Monday. It’s now back down to $3,400. ETF Approval Delay The delay in approval for Ethereum ETFs has been pushed back to July 8. The SEC is requesting revised filings from issuers. Revised Filings The SEC is taking extra time to review and…
Memecoin dogwifhat (WIF) A renowned crypto analyst, known for his accurate predictions, has set an ambitious price target for the Solana-based memecoin dogwifhat (WIF). The analyst believes WIF is entering a five-wave rally, which could push its value to $11 by November. This represents a potential upside of over 386% from its current price of…
Binance, the leading cryptocurrency exchange, has added monitoring tags to 11 altcoins, indicating their potential for delisting. Affected Altcoins The tagged coins include: Balancer (BAL) Cortex (CTXC) PowerPool (CVP) Convex Finance (CVX) Dock (DOCK) Kava Lend (HARD) IRISnet (IRIS) MovieBloc (MBL) Polkastarter (POLS) Status (SNT) Sun (SUN) Monitoring and Delisting Criteria Binance states that tokens…
Over the weekend, a crypto whale withdrew over $206 million worth of Ethereum (ETH) from the Bitfinex exchange within 16 hours. Abraxas Capital Management’s Involvement According to Lookonchain, the whale is likely Abraxas Capital Management, a UK-based investment firm specializing in crypto since 2017. The firm manages over $2 billion in digital assets. DeFi Transactions…
