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Showing posts from December, 2023

Here’s what happened in crypto today

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 Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation The United States Securities and Exchange Commission (SEC) has denied Coinbase's petition for rulemaking on transactions with cryptos that are classified as securities. Meanwhile, Blockstream CEO Adam Back tells Cointelegraph 2024 promises to be a resurgent period, and SafeMoon's price dropped following its Chapter 7 bankruptcy filing .  SEC finally responds to Coinbase's crypto rulemaking petition The U.S. securities regulator has informed Coinbase that separate rulemaking for cryptocurrencies that are classified as securities is unnecessary because existing laws are sufficient to cover the asset class .    SEC chair Gary Gensler announced the commission's response to Coinbase's petition, filed in July 2022, on Dec. 15. He argued that existing rules already apply to crypto.  $100K BTC? Don’t ...

BlackRock's Bitcoin ETF Now Invites Participation From Wall Street Banks

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 A change to the structure of proposed spot bitcoin ETFs would enable authorized participants (APs) to create new shares in the fund with cash, rather than only with cryptocurrency, essentially opening the door to banks who cannot hold crypto directly. A change to the mechanics of BlackRock's proposed spot bitcoin (BTC) ETF opens the door for Wall Street banks, which face restrictions holding cryptocurrencies, to play a key role. BlackRock recently made it so authorized participants – a vital part of the ETF ecosystem – will be able to create new fund shares with cash, rather than only with cryptocurrency.   As highly regulated U.S. banks are unable to hold bitcoin themselves, this set-up would enable the likes of JPMorgan or Goldman Sachs – firms with some of the largest balance sheets in the world – to act as APs to BlackRock's ETF. (Whether they want to is another matter.) The cash APs use in this process can then be exchanged into bitcoin by an intermediary and warehoused ...

What’s Causing the Current Bitcoin Crash and How Low Can it Go

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 Bitcoin’s price has been very bullish over the last couple of months. However, it is finally showing subtle signs of correction today. Therefore, it is worth analyzing the charts for potential support levels. Technical Analysis Bitcoin Price Analysis: The Daily Chart  On the daily chart, the price has been blowing past resistance levels one by one. Yet, today’s action has been very bearish, as the daily candle looks very bearish.   The price has dropped around 10% today before rebounding from the $40K support level. In case this level holds, it could initiate a rebound, and the market might rally toward the next significant resistance level, which is located at the $48K mark. On the other hand, a bearish breakout could result in a drop to the $38K and potentially the $31K zone.   BTC Price on The 4-Hour Chart The 4-hour chart demonstrates today’s decline much more clearly. The price has created a double top pattern around the $44,500 mark and proceeded to plunge to...

Bitcoin dominance threatens ‘likely top’ despite BTC price eyeing $45K

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 Bitcoin analysis suggests that all may not be well for BTC price strength as altcoins make their move. Bitcoin  BTC tickers down  $44,108 risks “rolling over” to cancel its latest uptrend, new analysis warns as altcoins surge. In a post on X (formerly Twitter) on Dec. 9, popular analyst and social media commentator Matthew Hyland flipped cautious on BTC price action.   Bitcoin dominance risks violating key level Bitcoin bulls kept momentum hot into the end of the week’s Wall Street trading as BTC/USD sealed new 19-month highs of $44,729 on Bitstamp on Dec. 8. Data from Cointelegraph Markets Pro and TradingView tracked a subsequent return below the $44,000 mark, with Bitcoin cementing itself in an intraday range. For Hyland, however, there are more sinister signs that the bull run may be in trouble after robust 60% gains since the start of October. The smoking gun, he says, lies in Bitcoin’s share of the overall crypto market cap. “Dominance is rolling over as per th...

SEC’s discussion with Bitcoin ETF issuers has moved into a key stage

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 The SEC is reportedly making significant progress in its discussions with several firms seeking to launch a spot Bitcoin ETF. Reuters reported that discussions have moved into key technical details, and applicants believe it’s potentially leading to the historic approval of the first Spot Bitcoin ETF in the U.S. Currently, there are 13 applications for Bitcoin ETFs awaiting review by the SEC. These applications come from prominent asset management companies, including BlackRock, Fidelity, Grayscale Investments, and ARK Investments.    Notably, in the past week, several of these firms have made crucial updates to their applications, hinting at the evolving nature of their proposals. Grayscale Investments CEO hints at optimistic scenario for spot Bitcoin ETF The digital asset market has been closely monitoring the situation, speculating on the impact that an approval of a Spot Bitcoin ETF would have. Such an approval would be a groundbreaking event, marking the first of it...

Ethereum Merge Most important moment in crypto history begins

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 The Ethereum network has completed the first part of its highly-anticipated Merge, which has been billed as the “biggest event in crypto history”. The Merge will see the world’s second largest cryptocurrency switch from a proof-of-work system to proof-of-stake, cutting its electricity consumption by orders of magnitude. The transition means that miners no longer need to verify transactions on the network by solving complex mathematical puzzles, which require vast amounts of computing power.   Instead, transactions are validated by owners of Ethereum’s crypto token (ETH) stake their own holdings in order to validate and secure the network. In order to achieve this, Ethereum’s network will fork to create two separate blockchains and two competing cryptocurrencies (ETHW and ETHS).

eTukTuk ($TUK) could achieve solid results during 2024 prediction price

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Achieving solid results during 2024 is also expected from the eco-friendly coin eTukTuk ($TUK). More and more users are choosing this green crypto instead of Ethereum ($ETH), because not only does $TUK show chances for fine results and a fine increase in value, but at the same time it leaves a positive impact on the entire planet by reducing pollution.   Ethereum ($ETH) price prediction for 2024. It is an undeniable fact that the popular Ethereum ($ETH) has been experiencing a slight recovery in recent days. Observing the “behavior” of Ethereum ($ETH), market analyst Markus Thielen concluded that this crypto could progress quite well in the coming months. According to his analysis, several factors could influence the explosion of the value of Ethereum ($ETH) during the year 2024. Thielen claims that if increased transaction activity and increased user interest continue, Ethereum will very likely manage to reach $3,000.    In the opinion of this market analyst, the  E...

T.G. Casino ($TGC) is a fantastic alternative to Ethereum ($ETH)

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 If you are disappointed that Ethereum ($ETH) has little chance of reaching $3,000, don’t worry, because there is a fantastic alternative that is set for big gains: T.G. Casino ($TGC). The world’s number one Telegram Casino has raised more than an incredible $2 million, and the reason for this is the huge number of crypto gambling fans who are aware of all the benefits that owning $TGC tokens brings. By investing in $TGC at an excellent price of only $0.155, you get not only the opportunity to enjoy a unique gambling experience but also to potentially make impressive earnings on your investment.    Hurry up to invest in a crypto that is one of the top 5 at the moment, because this coin is predicted to achieve fantastic results and a big increase in value!  

Meme Kombat ($MK) could surpass Ethereum ($ETH)!

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 A meme coin that, judging by the results so far, could also surpass Ethereum ($ETH) is Meme Kombat ($MK). This exciting coin that provides a comprehensive experience, from active betting to passive staking, and numerous other earning opportunities, has won the sympathy of crypto users, and we can conclude that from the outstanding presale results   In a relatively short period, $MK has raised more than $1.7 million, and that figure is increasing every day. It seems that the Meme Kombat, one of the hottest crypto presales, will be completed much sooner than we think, so take the opportunity to invest in this high-potential crypto and grab it while its price is only $0.189!