Deposit Exodus Two of the largest US banks, Citigroup and Wells Fargo, have experienced a significant decline in deposits over the past year. Citigroup’s deposits fell by $23.3 billion, while Wells Fargo’s dropped by $15.1 billion. JPMorgan Chase Outlook JPMorgan Chase, the largest US bank, has also reported a 7% drop in deposits in its…
According to Matt Hougan, CIO of crypto fund manager Bitwise, the upcoming Bitcoin halving is a positive catalyst for the cryptocurrency. Historic Precedence Hougan believes that the halving, scheduled for April 19th, could trigger a significant rally based on past events. Historically, Bitcoin’s price has surged after previous halvings. Long-Term Benefits However, Hougan emphasizes that…
Key Points: Analyst Altcoin Sherpa suggests Sei (SEI) could be preparing for a rally. Memecoin Pepe (PEPE) may have reached a market bottom. Ethena (ENA) and Celestia (TIA) show signs of potential growth. Sei (SEI) Sei, a Solana rival, is being watched closely by Altcoin Sherpa. He believes SEI could reverse upward after testing a…
A cryptocurrency analyst, Credible Crypto, has raised concerns about the future of Cardano (ADA). In a recent video, he expressed his bearish outlook, stating that Cardano “does not look great.” Downside Targets According to Credible Crypto, Cardano could potentially fall between 57% and 74% to reach his downside targets. He believes that the cryptocurrency has…
Halving Overview The fourth Bitcoin halving has happened, reducing the rewards miners get for each block they mine from 6.25 BTC to 3.125 BTC. This means miners will make less money, potentially losing billions of dollars. Impact on Bitcoin The halving is designed to make Bitcoin more scarce, which could drive up its value. Experts…
Sergey Nazarov, co-founder of Chainlink, believes more crypto exchange-traded funds (ETFs) are coming soon. He predicts that ETFs for coins beyond Bitcoin and Ethereum could launch this year. Ripple CEO Cautious, Ark Invest CEO Skeptical Ripple CEO Brad Garlinghouse agrees with Nazarov’s optimism but doubts it will happen this year. Ark Invest’s CEO, Cathie Wood,…
Analyst Insights Crypto analyst Ali Martinez has identified a key indicator that suggests a bullish outlook for Cardano (ADA). According to his analysis, ADA could rally to as high as $1. Martinez notes that ADA’s Market Value to Realized Value (MVRV) has dipped below -22%. Historically, when the MVRV ratio has fallen below this level,…
Billionaire’s Prediction Tim Draper, a renowned venture capitalist, has made a bold claim: Bitcoin could reach a staggering $10 million in value. He believes that widespread adoption and a weakening US dollar will drive this surge. Past Predictions Draper has a track record of accurate predictions. In 2017, he correctly predicted that Bitcoin would break…
New Form 1099-DA The IRS has released a draft of Form 1099-DA, “Digital Asset Proceeds from Broker Transactions.” This form is designed to report income from cryptocurrency transactions. IRS Plans to Implement Form in 2025 The IRS plans to implement Form 1099-DA in January 2025. Brokers will start issuing the form to traders in January…
Halving Event Bitcoin has undergone a scheduled event called a halving. This event, which occurs every four years, reduces the reward for miners who power the network by half. The reward has now dropped from 6.25 BTC to 3.125 BTC per block. Not a Price Impact Unlike a stock split, the halving doesn’t directly affect…
