JPMorgan Chase has issued a grim economic forecast, warning that a Trump victory in the upcoming election could lead to a dangerous combination of slow growth and high inflation. Tariffs: A Recipe for Disaster According to JPMorgan’s Chief Global Strategist David Kelly, Trump’s plan to raise tariffs on imports could create a perfect storm for…
Daily Active User Surge According to Jamie Coutts, chief crypto analyst at Real Vision, a key metric is signaling a positive outlook for cryptocurrencies. The daily active user (DAU) count for a group of 22 blockchains has surged by 132.8% in the past six months and 117.4% in the past three months. Layer-1 Blockchain Growth…
Bitcoin has just completed its ninth test of the $60,000 support level. This has raised questions about where the cryptocurrency is headed. Support and Resistance A support level is a price point where an asset tends to stop falling, indicating a potential bounce back. Bitcoin has held $60,000 as a support level for about nine…
CME Gap Closure Crypto expert Michael van de Poppe believes that the recent closure of Bitcoin’s CME gap signals a potential bounce from its current price. He predicts that Bitcoin will reclaim $60,000 as support before rising further. Inverse Head-and-Shoulder Pattern Analyst Mkybull Crypto confirms the CME gap closure and predicts that Bitcoin will reclaim…
Transactions Begin Mt. Gox has started repaying creditors by transferring a small amount of Bitcoin to Bitbank, one of the authorized exchanges. This follows months of planning to distribute $8.2 billion in Bitcoin owed to creditors. Test Transactions? The initial transfer was for only $24. It’s unclear if this is a test run before larger…
Bitcoin Benefits from Dollar Collapse Chris Wood, Chief Strategist at Jefferies, predicts that the potential collapse of the US Dollar Paper Standard could boost Bitcoin holders in the US. Macroeconomic Factors Wood argues that aggressive monetary policies and rising debt levels threaten the dollar’s dominance as a reserve currency. This could lead investors to seek…
Despite the recent market downturn, some investors are taking advantage of the dip to buy up cryptocurrencies. Whale Accumulates Meme Coins One whale has been accumulating meme coins, including Shiba Inu (SHIB) and PEPE. The whale withdrew 957.77 billion PEPE tokens (worth $9.84 million) and 583.78 billion SHIB tokens (worth $9.68 million) from Binance. Other…
Bitcoin Plunges After a dismal June, investors hoped July would bring a recovery. However, Bitcoin has now not only lost its initial gains but has also fallen below $58,000, marking a 4% drop in the past 24 hours. Derivative Market Meltdown The Bitcoin crash has triggered a mass liquidation event in the cryptocurrency derivatives market….
Promises, Webinars, and Empty Accounts Sam Ikkurty and his companies lured investors with promises of 15% returns on “stable” cryptocurrencies like Bitcoin and Ethereum. However, court documents show that these claims were misleading. Ikkurty’s funds lost nearly 99% of their value in a short time. A Classic Ponzi Scheme Instead of investing in stable assets,…
According to Ki Young Ju, CEO of CryptoQuant, now is an “ideal time” for whales to accumulate Bitcoin. Despite the recent “boring” price action, Ju believes the market is still in a bull cycle. Whales Buying In Ju noted that whales have been actively accumulating Bitcoin. He pointed out that miners have been hedging against…
