Month: February 2023

BTC price cools on latest US data as Bitcoin liquidates $80M in shorts

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Bitcoin (BTC) trended toward $24,000 at the Feb. 16 Wall Street open after fresh macroeconomic data from the United States overshot estimates. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hot U.S. PPI data “rattles” markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retracing some of its latest gains on the day, trading at around $24,400 on Bitstamp at the time of writing. The pair had hit $24,895 on Bitstamp overnight, marking its highest levels in six months as a surprise rally appeared to catch many traders off-guard. Over the…

Tencent Teams Up with MultiversX To Expand Web3 Strategy

“From blockchains to AI and beyond, cloud computing is a great necessity and an enabling force for innovation,” Beniamin Mincu, MultiversX CEO said. “We are thrilled to join forces with Tencent Cloud to explore exciting routes in a new strategic partnership between the two companies on payments, Web3 hubs, infrastructure, staking services and the metaverse.” Source

Ethereum price prints ‘death cross’ after losing 13% versus Bitcoin from 2023 peak

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Ethereum’s native token, Ether (ETH), has printed a death cross technical pattern versus Bitcoin (BTC) for the first time since May, suggesting more pain ahead for ETH/BTC in the coming weeks. Previous ETH price death cross preceded 27.5% drop A death cross appears when an asset’s short-term 50-day moving average moves below its long-term 200-day moving average. Such a chart pattern was seen in December 2007, ahead of the global economic crisis. Similarly, the ETH/BTC’s previous death cross, in May, preceded an approximately 27.5% price correction, dropping in part as…

Ethereum price prints ‘death cross’ after losing 13% versus Bitcoin from 2023 peak

Ethereum’s native token, Ether (ETH), has printed a death cross technical pattern versus Bitcoin (BTC) for the first time since May 2022, suggesting more pain ahead for ETH/BTC in the coming weeks. Previous ETH price death cross preceded 27.5% drop A death cross appears when an asset’s short-term 50-period moving average moves below its long-term 200-period moving average. Such a chart pattern was seen in December 2007, foahead of the global economic crisis. Similarly, the ETH/BTC’s previous death cross in May 2022 preceded an approximately 27.5% price correction, dropping in…

How to evaluate any crypto project using fundamental analysis

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Fundamental analysis is the process of finding the intrinsic value of an asset, with the goal to determine whether the asset is overvalued or undervalued. That information can then be leveraged along with technical analysis to decide whether to invest in or trade an asset. In cryptocurrency fundamental analysis, the approach is somewhat different than that typically used to evaluate legacy market assets. Crypto assets don’t have the historical data required, because there’s usually no history of earnings reports or profit and loss statements. For cryptocurrency analysis, all the available…

FTX’s Bahamas Unit Commingled Client, Corporate Funds, Liquidators Say

Of the $219.5 million total balance FTX Digital held in banks, $21.5 million has been realized by the liquidators, and a further $54.5 million is pending transfer to them, the document said. Another $143.2 million held in U.S. accounts has been seized by the Department of Justice, and other funds have been contested until the Bahamas bankruptcy is recognized in the U.S., the document said. Source

Artificial intelligence, robots and blockchain deliver next-generation healthcare, today

Pharmacy visitors expect quick service – to have their prescription filled quickly, or over-the-counter remedy purchased in just a few minutes. In this rapid interaction, little thought goes to the journey of that medicine from a microscope slide to mass production.  In reality, the drug discovery process is incredibly time and research-intensive. Despite significant advancements in manufacturing and discovery, the average time to bring a drug from the initial stage to market is 10-15 years and costs millions of dollars. Emerging technologies are transforming healthcare and drug discovery. Artificial intelligence,…

Crypto Lender Celsius to Be Acquired by Novawulf, Exiting Chapter 11  – Bitcoin News

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Crypto lender Celsius’ committee of unsecured creditors has chosen the digital asset investment firm Novawulf Digital Management to sponsor the company’s reorganization plan, according to a statement published on Wednesday. The proposed agreement would enable Celsius to exit the Chapter 11 bankruptcy process, and the new owners could begin distributing funds as early as June, said the company’s attorney Ross Kwasteniet. Celsius Says Novawulf Deal to Provide Path Forward for Celsius Creditors and Illiquid Assets Crypto lender Celsius, which filed for bankruptcy in July 2022, has announced that it will…