Day: April 7, 2023

Price analysis 4/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin’s failure to clear the overhead resistance at $30,000 is attracting profit-booking in select altcoins. Bitcoin (BTC) has been trading below $29,000 for the past several days. The analyst community remains divided on the near-term prospects of Bitcoin. While some believe that Bitcoin could rise to $30,000, others are of the opinion that a local top has been made. Bloomberg Intelligence senior macro strategist Mike McGlone said that cryptocurrencies, along with the stock market, crude oil and copper may find it difficult to sustain the recent bounce because bank liquidity levels…

Crypto Derivatives Exchange dYdX Ices Canadian Market

At 17:00 UTC, the exchange stopped onboarding new users based in Canada. Current Canadian users will retain full access to dYdX’s platform for the next seven days. But on April 14 they will be moved to “close-only mode” and only allowed to exit their positions and withdraw their capital. Source CanadianCryptoDerivativesdYdXExchangeICEsMarket CryptoX Portal

Arbitrum-Based Camelot Crypto Exchange to Deploy V2 Upgrade Saturday

The upgrade will launch in three phases, pseudonymous founder Myrddin said in Discord. First, on Saturday, Camelot will deploy a beta-stage automated market maker (AMM) based on the codebase of Algebra, a liquidity-focused protocol. The v2 upgrade will introduce “major enhancements” to Camelot’s infrastructure, such as adjusting pool fees and supporting the rebasing tokens like stETH. Source

Bitcoin leads crypto market recovery as regulators turn up heat: Report

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March has been a turbulent month for the crypto industry. Bitcoin (BTC) recorded its highest weekly close in 10 months and raised hopes among many that the bear market is over. One of the key drivers of this expectation was a series of banking collapses in the United States. This made investors hope for falling interest rates later this year, despite Federal Reserve Chair Jerome Powell’s insistence that lower rates were not part of the base scenario for 2023.  However, optimism about the macro environment risks being offset by the…

Historical Bitcoin price fractal hints at rally toward $50K

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Bitcoin (BTC) could rally toward $50,000 in 2023, according to a historical price fractal highlighted by popular market analyst Mags. Bitcoin price trend in 2015 vs. 2023 The chart fractal highlights the similarities between Bitcoin’s ongoing price trends and those recorded after the completion of the 2013–2015 bear market. That includes Bitcoin’s consolidation inside the $200–$300 range between January 2015 and August 2015, which appears identical to its consolidation between the $18,500–$25,000 range after the supposed completion of its 2021–2022 bear market. BTC/USD price performance comparison between 2015 and 2023.…

Core Inflation on Upward Trend, Further Rate Hikes Expected, ECB Execs Say – Finance Bitcoin News

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Amid underlying inflationary pressures, further interest rate increases may still be needed, members of the European Central Bank’s Governing Council have admitted. At the same time, the cycle with the highest hikes may soon be over, the officials indicated. End of Most Aggressive Rate Hikes in Sight Despite Inflation, but More to Come Before It’s Over Two members of the Governing Council of the European Central Bank (ECB) have shared their assessments of the inflation outlook in the eurozone and expectations regarding the monetary authority’s next moves in that respect,…

Celsius Network to make April 12 filing, including info on voting for restructuring plan

Bankrupt crypto lender Celsius Network has announced it will be moving forward on its Chapter 11 restructuring plan with a disclosure statement containing information for claim holders. In a April 7 notice to users, the Celsius debtors said they will file a disclosure statement on April 12. A March 31 court filing in United States Bankruptcy Court for the Southern District of New York said the statement was aimed at providing “adequate information” for claim holders to vote on the proposed restructuring plan sponsored by NovaWulf. Last week, we filed…

Rendering Videos – a Fast, Reliable and Low Cost Service From GAIMIN – Sponsored Bitcoin News

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sponsored GAIMIN has launched video rendering into the services provided by gaimin.cloud, GAIMIN’s decentralised, distributed data processing network. GAIMIN’s video rendering service is a lower cost service providing a faster turnaround time whilst spreading the data processing energy consumption footprint globally using PCs already running other applications and services and solving one of the world’s biggest digital problems today.. “The World is Running out of Data Processing Power” Satya Nadella, CEO Microsoft In 2020, it was estimated that 1.145 trillion Mb of data was created every day; every human created…

Thai political party looking at PM race promises $300 in crypto upon victory: Report

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The Pheu Thai Party, a political party in opposition to the current Thailand prime minister’s, has reportedly proposed giving nearly every citizen of the country roughly $300 in digital currency should it win the next election. According to an April 7 report from the Bangkok Post, the Pheu Thai Party announced at an April 5 campaign event that it planned to give all Thai residents 16 years and older a stipend of 10,000 baht — roughly $292 at the time of publication. One of the party’s candidates for prime minister,…