Day: October 19, 2023

Bitcoin Maximalist Calls Ethereum ‘Garbage’, Here’s Why

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Ethereum has long been the target of criticism from die-hard Bitcoin maximalists who believe that Bitcoin is the only worthwhile cryptocurrency despite the fact that Ethereum holds the second-highest percentage of the entire cryptocurrency market value.  Now, another Bitcoin maximalist, Steve Barbour, has referred to the leading platform for smart contracts as garbage.  Bitcoin Maximalist Makes Controversial Claim About Ethereum In a social media post on X, the prominent Bitcoin enthusiast recently called Ethereum “garbage” and said it has no future. His argument essentially boils down to Ethereum failing to…

OpenAI engages in share sale talks at $86 billion valuation

Two weeks earlier, FTX’s $500 million investment in Anthropic in 2022 was said to be a game-changer for creditors. Now its rival, OpenAI, responsible for ChatGPT, received a valuation of $86 billion. A valuation higher than Stripe The team at the artificial intelligence startup responsible for ChatGPT is in the midst of negotiations regarding a transaction, commonly referred to as a tender offer, with potential investors, according to individuals familiar with the matter. The company has not yet finalized the allotments, and it’s possible that the terms may still change,…

Why the 2024 Bitcoin halving may play out differently than in the past

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The impact of the Bitcoin halving on crypto prices is often overestimated and the next halving, set for April 2024, may play out differently than previous ones, according to a leading analyst. The halving event, which every four years, cuts in half the rate by which new Bitcoins are created, and is generally considered one of the main catalysts driving Bitcoin’s biggest upside moves. Despite the bullish narrative surrounding the halving, however, the event by itself does not guarantee the appreciation of Bitcoin. If the reduced supply of new Bitcoin…

This Bullish Divergence Is Once Again Forming For Bitcoin, Rally Soon?

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Data shows a divergence is forming between Bitcoin and Ethereum’s open interest, something that has been bullish for BTC in the past. Bitcoin Open Interest Has Declined, While Ethereum Has Seen Rise According to data from the on-chain analytics firm Santiment, the BTC open interest has been going down since Monday. The “open interest” here refers to the total amount of Bitcoin contracts (in USD) that are currently open on the futures and options market. When the value of this metric increases, it means that there are more positions being…

12 practical tips for effectively working with regulators

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The world is interested in crypto. In the United States and European Union, individual investors have shown they are intrigued by its possibilities, while emerging economies are leveraging it to expand access to financial services. This, of course, is attracting the focus of legislators who want to both tap into crypto’s potential and ensure investors and consumers are well-protected. But with crypto’s international footprint, new and dynamic technologies, and built-in anonymity, it’s a challenge to protect users’ privacy and police unlawful activity. It’s likely impossible for regulators to walk the…

BTC ATM Numbers Drop 17% in a Year to Lowest Level Worldwide Since 2021

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Impact On Price As Traders Ditch Bitcoin On Derivatives

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Ether (ETH), the second-largest cryptocurrency by market capitalization, has been on a downward trajectory for the past three months. Despite a brief fake-out rally, ETH has struggled to regain its footing in the crypto market. The recent rally, though short-lived, has brought about interesting developments in the derivatives market. While Bitcoin’s open interest (OI) witnessed a significant drop, Ethereum saw an increase in its OI. Open interest, often abbreviated as OI, is a crucial metric in the world of cryptocurrency derivatives. It represents the total value of outstanding contracts in…

BTC price climbs to $28.6K as Bitcoin awaits ‘very dovish’ Fed Powell speech

Bitcoin (BTC) kept pressure on $28,500 after the Oct. 19 Wall Street open ahead of a key speech on United States economic policy. BTC/USD 1-hour chart. Source: TradingView Lepard: Powell may flip “very dovish” Data from Cointelegraph Markets Pro and TradingView showed BTC price action gaining strength ahead of commentary by Jerome Powell, Chair of the Federal Reserve. Due to speak at the Economic Club of New York at 12pm eastern time Thursday, Powell faces a complex macroeconomic scenario with U.S. ten-year bond yields at their highest since 2007. With…