Day: January 19, 2023

Bitcoin Might Fall Below $20,000 Before Bull Rally Resumes, Analyst Says

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The last two weeks have been incredible for the price of bitcoin. The digital asset has been able to successfully make its way out of a depressing bear trend and reached two-month highs in the process. However, with the recent pullback, there may be a bit more pain for bitcoin investors before the upward rally continues. Analyst Justin Bennett Says Bitcoin Below $20,000 Is Possible In a new issue of his crypto trading newsletter, analyst Justin Bennett reveals some bearish tendencies of the market. He first points to the fact…

Meme Coins Move Lower, With SHIB Declining by 10% – Market Updates Bitcoin News

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Meme coins moved lower on Jan. 19, as cryptocurrency markets plunged following recent highs. Shiba inu, which rose to a nine-week high on Wednesday, fell by nearly 10% today. Markets have been largely overbought in the past few days, with bears seemingly reentering. Dogecoin was also in the red today. Shiba Inu (SHIB) Shiba inu (SHIB), which was one of Wednesday’s biggest gainers, climbing by as much as 17%, fell by over 10% today. Following a high of $0.00001295 in yesterday’s session, SHIB/USD dropped to an intraday low of $0.00001097…

DeFi problems and opportunities in 2023: Market Talks

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On this week’s episode of Market Talks, Cointelegraph welcomes Grant Shears, founder of Blocmates — an educational and consultancy company that aims to create crypto, decentralized finance (DeFi) and Web3 content that anyone can understand. This week, to kick things off, the show takes a look at the emerging trends of 2023 and what people should look forward to. What industries could really take off this year, and which sector could have the most potential to grow? It’s no secret that 2022 was not a great year for DeFi, an…

If Any Crypto Will Reach $1 Trillion, It’s Ethereum

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Based on the year-to-date performance and their drawdown from their all-time highs (ATHs), Bitcoin (BTC) and Ethereum (ETH) have performed very similarly. While BTC has risen by 25.5% since the beginning of the year, ETH has climbed by about 27%. From its ATH, Bitcoin has declined by 69.9%, while Ether is down by 68.9%. Despite this very comparable performance, the debate persists that Ethereum may replace (“flip”) Bitcoin as the largest cryptocurrency by market cap within the next few years or in the next bull cycle. One supporter of this…

Binance tightens rules on NFT listings

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According to a Jan. 19 announcement by Binance, the cryptocurrency exchange has tightened its rules for nonfungible tokens, or NFT, listings. Starting Feb. 02, 2023, all NFTs listed on Binance before Oct. 2, 2022, and have an average daily trading volume lower than $1,000 between Nov. 1, 2022, and Jan. 31, 2023, will be delisted. In addition, after Jan. 21, 2023, NFT artists can only mint up to five digital collectibles per day.  Binance NFT requires sellers to complete know-your-customer (KYC) verification and have at least two followers before listing on…

Bitcoin faces $15K crash as US sparks ‘financial meltdown’ — Arthur Hayes

In his latest blog post released on Jan. 19, Arthur Hayes, the former CEO of BitMEX exchange predicted a “global financial meltdown” thanks to future United States economic woes. Hayes: Crypto will “get smoked” in Fed pivot Bitcoin’s current rally should likely not be taken as the start of a new bull run. That is the opinion of Arthur Hayes, who in a fresh treatise on U.S. macroeconomic policy this week warned that current Federal Reserve behavior would flip from restrictive to liberal, but cause cryptoassets to “get smoked.” With…

Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization – Economics Bitcoin News

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After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying last March the country would consider accepting the Chinese currency. Saudi Arabia’s Move Away from US Dollar Signals Changing Economic Landscape This week, the world’s elite met in the Swiss Alpine town of Davos for the 2023 World Economic Forum, and…