Day: January 25, 2023

Crypto Long & Short: Bitcoin’s Hedge Potential

Whatever the case, the dramatic rise in interest rates in 2022 had a meaningful impact on growth-oriented portfolios. Investors’ time horizons collapsed from more than five years out to the near term. Today, investors are making current cash flows and profits a priority over potential growth prospects. Bull market buzzwords – fear of missing out, moon bags, laser eyes, stonks go up, and financial independence, retire early – are out of vogue, replaced by mundane things like holding on, dollar cost averaging and the collective hope for transitory inflation. Source

DOGE Drops to 5-Day Low on Wednesday – Market Updates Bitcoin News

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Dogecoin slipped to a five-day low on Wednesday, as the meme coin fell for a second straight session. The move saw prices drop by over 5%, edging closer towards a key price floor in the process. Polygon also extended recent declines, hitting its weakest point since January 19. Dogecoin (DOGE) Dogecoin (DOGE) dropped to a five-day low on Wednesday, as the global cryptocurrency market cap fell by as much as 3% today. Following a low of $0.08919, DOGE/USD fell to an intraday low of $0.08245 earlier today. The move saw…

Bitcoin Short-Term Holders Take Profits, Will BTC Correct?

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On-chain data shows Bitcoin short-term holder profit-taking has spiked, will this lead to a correction in the price of the crypto? Bitcoin Short-Term Holder SOPR Has Surged Recently As pointed out by an analyst in a CryptoQuant post, instances of the current trend have led to declines in the crypto’s price in the past. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether the average Bitcoin investor is selling their coins at a profit or at a loss right now. When the value of…

Nifty Gateway co-founders resign amid Gemini woes

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In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are founders at heart, and we want to start another company.” “When @Gemini acquired NG in 2019, Griffin and I said if everything went amazing and we loved it, we would stay for 4 years before starting another company. We ended up staying the max amount of time…

Regulating crypto as gambling JP Koning – CoinDesk

Dai, MKR, Aave and Compound may not be gambling. But a large proportion of crypto is gambling. That’s because a big chunk of the people who engage with blockchains are doing little more than betting on the very volatile prices of first-generation unbacked volcoins like dogecoin, floki inu, and shiba inu. Let’s not forget bitcoin, bitcoin cash, litecoin, xrp, and ether. Source

Why This Analyst Thinks Traders Should Not Be Bearish On Solana

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For traders thinking Solana is controlled by the bears, a popular crypto market analyst, Chris Burniske, is giving a fresh perspective of hope for the major altcoin.    According to the former lead of Ark Invest’s crypto department, those who think that SOL is generally bedridden in a bearish mood are mistaken. SOL Sets To Make a Breakthrough Burniske said that the Ethereum killer still has a breakthrough opportunity to rally its price despite its reverse down at a resistance level. The prominent analyst urged traders not to be extremely…