Month: July 2023

Parliamentary report recommends Canada recognize, strategize blockchain industry

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A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry,” and take all the steps that entails. There are a lot of steps needed, it said. The report was released by the Canadian House of Commons Standing Committee on Industry and Technology after a study that involved five meetings and numerous witnesses and briefs. The report outlined uses of blockchain that included cryptocurrency, supply chain and public sector uses and non-crypto financial innovations. “Canada punches above its weight,” in blockchain innovation and…

A no-fail trade? Bitcoin traders who dollar-cost average are profitable

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The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into the leading cryptocurrency are now in the black, regardless of how long they have been holding. Just a reminder that every single pleb who has been dollar cost averaging #bitcoin is now in profit no matter when they first started DCA’ing. Every single one of them! pic.twitter.com/pnuIqdQznM — Wicked (@w_s_bitcoin) July 3, 2023 This news comes despite the price of Bitcoin, as measured in U.S. dollars, still being down by over…

Social media discussions play a crucial role in influencing crypto returns: Study

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Researchers at Pennsylvania State University recently analyzed whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets. According to the team’s research paper, social media plays an outsized role in adoption and activity rates, while cryptocurrency journalism isn’t a great predictor of market movement: “Our findings indicate that social media sentiment significantly predicts crypto returns, while sentiment from news media does not.” The researchers used natural language processing to analyze millions of financial news articles and social media comments…

How to use third-party ChatGPT plugins

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After its release on Nov. 30, 2022, the OpenAI-created ChatGPT, an artificial intelligence (AI) language processing tool, captivated the world. Its mind-bending ability to generate content, effortlessly mimicking human language intricacies, enthralled users worldwide and was one of the main reasons behind its rapid rise in popularity. Trained on a vast corpus of data spanning an expansive array of literary works and online sources, ChatGPT ushered in an era where AI impacts communication, computations, transcriptions, translations and more. While ChatGPT’s standard capabilities are already being utilized in a wide range…

Crypto investigator ZachXBT alleges YouTube influencer Blue stole $1.5m through scams

Cryptocurrency detective ZachXBT detailed alleged cryptocurrency fraud activities conducted by a popular YouTube personality, known as Blue or Jack, potentially amounting to over $1.5 million in stolen funds. Cryptocurrency investigator ZachXBT has published evidence alleging a YouTube influencer named Blue, also referred to as Jack, was involved in numerous crypto heists amounting to a staggering $1.5 million. Initially known for his gaming and prank videos, Blue amassed a following of over 122,000 subscribers on YouTube, before allegedly becoming embroiled in cryptocurrency scams in 2021, as detailed by Zach on Twitter.…

Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC

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The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year. Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin…

Grayscale lawyers refer to SEC allowing Volatility Shares’ investment vehicle in push for ETF

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Digital asset manager Grayscale has filed a letter in its lawsuit against the United States Securities and Exchange Commission (SEC) over the rejection of a spot Bitcoin exchange-traded fund (ETF), citing a possible precedent in furtherance of its case. In a letter dated July 10, Grayscale’s legal team notified the U.S. Court of Appeals for the District of Columbia Circuit of the listing of Volatility Shares Trust’s leveraged Bitcoin (BTC) futures ETF. The crypto investment vehicle started trading on June 27 without interference from the SEC, which to date has…

Bitcoin price will hit $120,000 in 2024, Standard Chartered believes

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Standard Chartered Bank has revised its bitcoin price prediction, forecasting a rise to $120,000 by the end of 2024. The renewed push for a bitcoin exchange-traded fund (ETF) by BlackRock and other institutions could potentially propel the cryptocurrency even higher. BTC to the moon? Standard Chartered Bank has increased its bitcoin (BTC) price prediction, forecasting that the digital asset could reach $120,000 by the end of 2024. This updated forecast comes after the bank initially projected…

Grayscale Bitcoin Trust (GBTC) Discount Narrows to Lowest Since May 2022

While optimism for SEC approval of a spot bitcoin ETF is running high at the moment, continued investor caution could be warranted. “I had a really good laugh when we saw the BlackRock [spot bitcoin ETF] filing come out,” said Opimas CEO and founder Octavio Marenzi, appearing on CoinDesk TV Monday morning. He took note that the BlackRock fund seeks to use Coinbase (COIN) as its crypto custodian even as that exchange is facing a lawsuit from the SEC. Source