Day: October 12, 2023

US Mega Bank JPMorgan Predicts Harsh Drop In This Bitcoin Metric

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In a recent research report from JPMorgan, the financial firm has predicted a harsh drop for one Bitcoin metric, forecasting a potential decline of the Bitcoin Network Hash Rate by 20% leading up to the Bitcoin halving in April 2024. JPMorgan Expects Bitcoin Hash Rate To Drop In the report, JPMorgan stated that the Bitcoin mining industry is at a crucible stage leading all the way to the Bitcoin halving in April 2024 and beyond. This is because the approval of a Spot BTC exchange-traded fund (ETF) could spark a…

Cardano Price Prediction for 2023, 2024, 2025 and Beyond

Cardano is one of the most actively developed blockchains with an ambitious roadmap. Its native ADA token has seen immense growth since launching in 2017. This article explores what’s next for Cardano prices. What is Cardano (ADA)? Cardano is an open-source proof-of-stake blockchain network founded by Ethereum co-founder Charles Hoskinson in 2015. It aims to provide fast, secure, and scalable blockchain transactions through leading research and development. The Cardano blockchain is divided into layers handling different functions: Cardano Settlement Layer (CSL) handles peer-to-peer transactions using the native ADA cryptocurrency. Cardano…

Consumer Price Index (CPI) Climbed 0.4% in September, Higher than Expected by Dow Jones

Data released by the Labor Department show that CPI for September increased higher than expected, with several prices up from August. According to figures published by the Labor Department, the prices of goods and services increased quicker than expected in September. The consumer price index (CPI) rose 0.4% in September and 3.7% compared with the same period last year. This was higher than expected, as Dow Jones estimated increases of 0.3% and 3.6%, respectively. September CPI Report Shows Multiple Increases The Labor Department’s figures show that core CPI, which excludes volatile energy…

Bitcoin price data shows investor sentiment at 3-month low

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Bitcoin (BTC) faced a 4.9% correction in the four days following the failure to break the $28,000 resistance on Oct. 8, and derivatives metrics show fear is dominating sentiment in the market, but will it be enough to shake Bitcoin price from its current range? Looking at the bigger picture, Bitcoin is holding up admirably, especially when compared to gold, which has fallen by 5% since June, and Treasury Inflation-Protected bonds (TIP), which have seen a 4.2% drop during the same period. Merely maintaining its position at $27,700, Bitcoin has…

China opens industrial park for digital yuan CBDC development in Shenzhen

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China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY. The industrial park is located in the Luohu district of Shenzhen adjacent to Hong Kong. It is opening with nine residents. According to reports, the district government has announced ten “initiatives to boost the development” of the digital yuan ecosystem that involve payment solutions, smart contracts, hard wallets…

The SAFER Banking Act Can End Discriminatory Banking Practices

Section 10 of the SAFER Banking Act is more than just a stronger legal requirement; it’s a statement of intent. It signals the end of an era where discriminatory banking practices stifled innovation and forced legitimate businesses to look elsewhere, usually overseas, for support. By ensuring that personal beliefs and political motivations have no place in banking decisions, it lays the foundation for a more inclusive, fair, and innovative financial landscape in the U.S. It’s not just a win for the digital asset industry; it’s a win for the very…

Is FTX’s Sam Bankman-Fried a Sociopath?

This week, as the criminal trial of Sam Bankman-Fried continues to unfold, there has been an emerging chorus of people willing to state, quite bluntly, that the founder of crypto exchange FTX and hedge fund Alameda Research is psychopathic. The former “golden boy” of crypto, aka SBF, is accused of multiple counts of fraud related to siphoning billions of dollars worth of his exchange customers’ money to fund a litany of investments. Source

Scroll zkEVM Launches, Blockchain Data Shows, Competing With Polygon, Matter Labs

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Bitcoin Plunge Below $27,000 Drives Investors Into Fear, Will Rebound Occur?

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Data shows the Bitcoin drop below the $27,000 level has made most investors fearful for the first time this month. Bitcoin Fear & Greed Index Is Pointing At “Fear” Right Now The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the Bitcoin and broader cryptocurrency market. Alternative created the metric, and according to the website, it’s based on these factors: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends data. The indicator uses a numeric scale from zero…