Day: September 28, 2023

Bitcoin to $27K next? 1-week BTC price highs precede speech by Fed’s Powell

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Bitcoin (BTC) hit new weekly highs after the Sept. 28 Wall Street open as markets awaited fresh cues from the United States Federal Reserve. BTC/USD 1-hour chart. Source: TradingView Bitcoin summons volatility ahead of Powell speech Data from Cointelegraph Markets Pro and TradingView showed BTC price strength staging a comeback on Sept. 28, having delivered what some referred to as a classic “pump and dump” 24 hours prior. During that performance, highs of $26,823 appeared on Bitstamp due to 2% daily gains before Bitcoin retraced all of its progress. A slower…

Europe’s Crypto Industry Wants Staking Clarity as Regulations Loom

“From staking and lending, people can obtain certain gains, and those gains are interesting from the tax perspective,” Luis Calvo-Parra Martínez, an official from the tax arm of the European Commission, told the same event, adding that “it would be good for legal certainty to have a legal definition for those [services], which now – I wouldn’t say is lacking, but could be put more black on white.” Source

Matrixport Sees Discounted Crypto Stocks as Better Investment than Bitcoin

Matrixport still maintains a positive outlook for BTC even as the US SEC has delayed a decision on the seven applications for spot Bitcoin ETF on its desk. According to a recent Matrixport report, the underperformance of listed crypto companies suggests that there could be a huge investment prospect in the Bitcoin (BTC) mining space that investors can take advantage of. The report went on to compare the gains that investors will see with exposure to only Bitcoin and a diversified portfolio. BTC is currently trading at $26,474.99 but if…

Gemini Pulled $282M Earn Users’ Funds From Genesis Last Year to Protect Customers

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Under-the-Radar Altcoin Soars Over 200%

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The Loom Network (LOOM), a multichain interoperability platform geared towards scaling high-performance decentralized applications (DApps), has surprised many with a 264% rally in just a month. Adding to the excitement, the renowned crypto exchange platform, Gate.io, has recently announced its decision to list the altcoin LOOM for trading.  As of the latest figures from CoinGecko, LOOM stands at a trading price of $0.145481, marking an impressive 28% rally within the past 24 hours and a 148% surge over the last seven days. Gate.io Embraces Altcoin Momentum The surge in the…

Sam Bankman-Fried’s Temporary Release During Trial Denied by Judge

As to Cohen’s argument that Bankman-Fried’s case is complex, meaning he deserves ample time outside of prison to strategize, Kaplan again demurred. While the FTX case “involves subjects that to the lay world are pretty arcane,” like cryptocurrency and finance, said Kaplan, “the issues in this case are pretty straightforward: Was there fraud, or wasn’t there?” Source

Bitcoin—a risk asset and safe haven—is worth owning at these levels, says Wolfe Research

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Bitcoin has long perplexed investors with its ability to act as both a store of value and a high risk asset, but Wolfe Research says it’s worth owning either way and to lean into the nuance. There’s been a fog over the price of bitcoin this year. It’s remained in a tight range between $25,000 and $30,000 and fluctuated between acting like a risky tech stock and a type of digital gold. It isn’t the first time bitcoin’s narrative has wavered, and it may be time for traders to embrace…