Category: Cryptocurrency News

This piece continues from A Most Ridiculous World: The Politicization of Energy from yesterday.  Feeding the Grown and the Growing Stern, Burke and Bruns (2016)7 concluded in their analysis that access to electricity is not sufficient for economic growth but that electricity use and GDP have a positive relationship. Simply providing the availability of a resource does not dictate advancement, it is the use that results in advancement. Common sense. “As a result, energy is an essential factor of production Read more …

On-chain data shows the largest of the Bitcoin whales have returned to distribution, a sign that could be bearish for the asset’s price. Bitcoin Investors With More Than 10,000 BTC Are Selling Again As explained by analyst James V. Straten in a new post on X, the BTC whales, who had earlier been in a phase of accumulation, have switched their behavior to that of distribution now. The relevant indicator here is the “Trend Accumulation Score” from Glassnode, which keeps Read more …

AnchorWatch, a leading insurer specializing in safeguarding Bitcoin holdings for commercial entities, announced a successful $3 million funding round today. The round was led by Ten31, with notable participation from Axiom BTC, Bitcoin Magazine Fund, Timechain, Bitcoin Opportunity Fund, and other investors. The infusion of capital will empower AnchorWatch to fulfill regulatory requirements and capital needs, paving the way for the launch of its Trident Vault software and the sale of insurance policies tailored for Bitcoin holders. AnchorWatch’s Trident Vault software Read more …

Maker DAO’s MKR has recorded a big push amid the slight uptick in the broader cryptocurrency market. Yesterday, September 25, the token rose from a low of $1,265 to a high of $1,343.  Although most tokens struggle to recover, MKR consolidated on its upswing with an impressive 5% 24-hour increase. MKR trades at $1335, striding to conquer the critical resistance at $1,350.  Its latest strides show buyers are in control, and their activity could facilitate more gains for MKR. But Read more …

Alliance Bernstein (AB), a prominent $646 billion asset manager, has predicted that the Bitcoin and crypto fund management industry is poised for remarkable growth, potentially reaching a staggering $650 billion within the next five years.  This forecast comes on the heels of recent developments that have bolstered the outlook for institutional adoption of Bitcoin by Wall Street firms. AB estimates that the current size of the crypto fund management sector stands at approximately $45-50 billion. However, the firm’s analysts argue Read more …

Cardano (ADA) finds itself at a pivotal juncture as it tests its longstanding support at $0.24. This critical level has held firm for nearly three years, emerging as a significant accumulation point for savvy investors.  The recent daily candle hints at a somewhat neutral stance in the market. This slight uptick in price suggests a potential dissipation of the strong bearish sentiment that has lingered, with traders now recognizing renewed buying interest hovering around the $0.24 mark. Bullish Hopes Rest Read more …

In a recent development, analysts at asset management firm Bernstein have predicted when the US Securities and Exchange Commission (SEC) will likely approve the first Spot Bitcoin ETF. When Will The First Spot Bitcoin ETF Be Approved? According to the analysts, the pending Spot Bitcoin ETF applications could be approved early next year. They made this projection in line with the recent court ruling in the Grayscale case, which they believe could force the SEC’s hands.  The court had ruled Read more …

With anticipation around Bitcoin ETFs from giants like BlackRock, Fidelity, and Invesco, and an expected halving in April 2024, forecasts for Bitcoin’s price next year show a significant range. From JPMorgan to Standard Chartered Bank, here are the most notable estimates for 2024: Pantera Capital: $150,000 In their August “Blockchain Letter”, Pantera Capital, led by Dan Morehead, predicts a possible rise to $147,843 post the 2024 halving. Employing the stock-to-flow (S2F) ratio, they believe the price model suggests the valuation Read more …

Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market.  While LTC has a history of volatile price swings, recent times have seen it mirroring the sideways movement of the overall market, largely influenced by Bitcoin’s fluctuations, which rose from $25,000 to $27,000 before dropping to $26,000. As Read more …

Ripple’s token price is holding gains above $0.50 against the US Dollar. XRP price could take a hit if it fails to recover above $0.512. Ripple’s token price is attempting a fresh increase above $0.508 and $0.512 against the US dollar. The price is now trading above $0.500 and the 100 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The Read more …

Ethereum price is attempting a recovery wave from $1,565 against the US Dollar. ETH could struggle to recover above $1,600 and might resume its decline. Ethereum is slowly moving higher toward the $1,600 resistance zone. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it fails to Read more …

Bitcoin price is struggling below the $26,500 resistance. BTC could accelerate lower if there is a close below the $26,000 support in the near term. Bitcoin is struggling and trading well below the $27,500 resistance. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline unless there Read more …