Day: November 28, 2022

Bitcoin will ‘teleport’ to $14K or worse if BTC breaks $16K — analyst

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Bitcoin (BTC) hovered above $16,000 on the Nov. 28 Wall Street open as analysts diverged on the next market move. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin spot price near key support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining the $16,000 support level at the time of writing amid misgivings over China’s impact on risk assets. After a modestly higher weekly close, the pair still lacked volatility as one commentator warned of a “teleport” toward $12,000 should $16,000 break. “When it breaks below 16k, it teleports to…

Crypto Lender BlockFi Files for Bankruptcy as FTX Fallout Continues

However, FTX itself filed for bankruptcy in the second week of November, after days of speculation about whether it was fully liquid. The questions were sparked by a CoinDesk report revealing that much of FTX sister company Alameda’s balance sheet was composed of an exchange token, FTT, issued by FTX, which later prompted Binance CEO Changpeng “CZ” Zhao to announce he would liquidate his company’s entire set of FTT holdings. FTX later suspended withdrawals. Source

Bitcoin Seen Dropping To $10K, This Asset Management Predicts

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Bitcoin returned to the bottom of its current range and might see further downside pressure in the coming days. The cryptocurrency is still recovering from the collapse of FTX, the former second major crypto exchange in the world, and the contagion unleashed in the sector.  As of this writing, Bitcoin has recorded a spike in selling pressure. The cryptocurrency is trading at $16,200 with a 2% loss in the last 24 hours. Other assets in the crypto top 10 record similar price action, but the majority preserves profits from last…

Web3 DAO Game7 Unveils $100M Grant Program

The Game7 DAO’s treasury includes $500 million committed by high-profile decentralized autonomous organization BitDAO and blockchain game platform Forte. The grants will be deployed over five years at $20 million per year to projects across five categories, technology, events, diversity, education and research. The cross-chain program has support from the Polygon, Solana, Immutable and Arbitrum blockchain ecosystems with plans for further expansion over the coming months. Source

Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months – Altcoins Bitcoin News

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During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from last month’s $69.13 billion to today’s $65.48 billion. Stablecoin Economy Drops Lower, Tether Market Cap Sheds 5% Statistics show that the stablecoin economy’s market valuation has reduced during the last 30 days by roughly 2.02%.…

Ethereum Loses Demand Zone; Investors Eyes $700 ETH price?

ETH price losses key demand zone of $1,200 again Price remains weak as bears battle bulls; so much uncertainty in the market  ETH price gets rejected from a low of $1,220 on the high timeframe The price of Ethereum (ETH) trading below $1,200 continues as the price faced rejection, breaking and trending higher to a region of $1,300 after showing from price action bouncing off from its weekly low of $1,080. In the high timeframe, the price of Ethereum (ETH) looks weak, with a probable result of a downtrend movement…

Privacy Isn’t Just an Edge Case for Crypto

Anyway, it wasn’t actually the KYC thing that got me all riled up, and in hindsight I wish I’d not used the example of it being an obstacle to financial inclusion. A quick scan of the room told me the audience was made up of dudes in swanky suits, likely more concerned with taking their investment portfolios to the moon than solving the struggles of the unbanked. As such, my decision to refer to an edge case to prove a point about KYC’s failings served only to underscore that the…

Investors May Not Want To Go Long Yet On BCH

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BCH (Bitcoin Cash) saw its chance to recover as the crypto market’s capitalization still hasn’t made that much recovery. After stalling for a few candles at or near its pre-FTX collapse price level, the Bitcoin hard fork continued its descent. CoinGecko reports that Bitcoin Cash has greens on the weekly and biweekly timelines, but reds on the daily and monthly charts. Here’s a quick glance at BCH movement: When dealing with BCH, caution is advised There are conflicting signs coming from bitcoin cash Bulls must keep an eye on the…