“Bottoms in both cycles lasted for approximately 370 days. And the peak-to-trough return after 510 days of both cycles reached 60%,” Lunde said in a note sent to clients last week. “In 2018, the bear market rally topped 556 days after the 2017 peak, on June 29, 2019, with a 34% drawdown from the peak.” Source
Google and Alphabet CEO Sundar Pichai thinks AI could cause serious harm in different sectors if society does not brace for it. According to Google (NASDAQ: GOOGL) CEO Sundar Pichai, society needs to brace itself for the far-reaching impact of artificial intelligence (AI). In a recent media session, Pichai opined that AI acceleration might distort everyday life without proper guiding measures. Warning that AI advancement laws are “not for a company to decide” alone, Pichai believes AI will impact “every product of every company”. In the interview, the Google CEO suggested that it would be imprudent…
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Market analysts expect Apple to unveil the first glimpses on its much-awaited mixed-reality headsets during the WWDC 2023 event ahead in June 2023. It’s almost two months to Apple‘s WWDC 2023 event but the rumor mill has already started generating some chatter in the market. As per early reports, Apple is planning the launch of more hardware devices with new MacBook models set to make the appearance. For years, Apple’s WWDC event has majorly been software and developer-centric. However, it could also become a venue for introducing new hardware. As…
BNB Chain, the blockchain developed by crypto exchange Binance, updated its Red Alarm list to include 191 high-risk projects and decentralized applications (dApps) currently hosted on the blockchain. BNB Chain’s Red Alarm list — which gets updated every Friday — includes projects and DApps that are deemed risky investments purely based on smart contract assessment. The 191 new projects on BNB Chain that have been added to the list are either suspected of issuing fake tokens, high or opaque tax fees or simply because their websites or Twitter handles don’t…
Bitcoin (BTC) starts a new week under $30,000 as analysts’ predictions of a short-term support retest come true. The largest cryptocurrency saw a classic dive following its latest weekly close as its latest gains evaporated — will they return? Ahead of a fairly innocuous week for macro data releases, catalysts are likely to come elsewhere as BTC price action makes a decision on a key support zone. Much is at stake for traders, as the week prior offered the opportunity to reinvestigate altcoins as Bitcoin itself cooled its upside. With…
South Korea and the U.S. have requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro. Kwon is facing criminal charges in both countries after his $60 billion crypto ecosystem came crumbling down, hurting the industry globally. Source
The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulator despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on April 16. The enforcement unit informed Bittrex about potential action from the SEC in March, Bittrex’s general counsel David Maria reportedly said. By that time, the Seattle-based crypto firm had already started the process of…
The government of China protested the enactment of sanctions on a series of national companies by the U.S., barring them from doing business with U.S.-based entities for allegedly collaborating with Russia. China’s Commerce Ministry criticized the move, saying it is a “typical form of long-arm jurisdiction,” which damages the rights and interests of these companies. China Opposes the Enactment of Sanctions on National Companies The government of China has expressed its disagreement with the recent enactment of a series of sanctions against a number of national companies for supposedly collaborating…
Some addresses, such as “0x08De,” withdrew over 50,000 ether and deposited over 5,000 ether on crypto exchange Hubby’s Ethereum staking tool. The remaining 45,000 ether was deposited on spot wallets, but data did not immediately suggest if 0x08De intended to sell the holdings. Source