Day: October 23, 2023

Why Bitcoin Price Could Double To $60K In A Flash

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Bitcoin price action has been known to go “parabolic” when speculation in the crypto market is in full gear. Prices begin to rise rapidly with very few pullbacks in between. According to evidence, a parabolic structure is possibly building that could cause BTCUSD to “double” in a short amount of time. And with the first ever digital asset now above $30K per coin, it means a potential monstrous move to $60K could be on the horizon. Why BTC Could Teleport To $60K In technical analysis, an asset is said to…

MicroStrategy’s Bitcoin stash is back in profit with BTC price above $30K

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MicroStrategy’s Bitcoin (BTC) holdings have turned profitable for the first time since July this year as the BTC price has broken through above $30,000. MicroStrategy up $132M in paper profits As of Oct. 23, MicroStrategy held 158,245 BTC worth $4.847 billion, up about $132 million from the original amount invested — at an average rate of 29,870 per BTC. In other words, the firm is now up at least $130 per coin. MicroStrategy Bitcoin holdings as of Oct. 23. Source: BlockchainCenter.Net MicroStrategy started buying Bitcoin in 2020. The firm ramped up purchases…

The US Risks Its Position as a Stablecoin Leader

Far too often, regulators, policy makers, and commentators have looked at potential stablecoin regulation and assessed the risks relative those presented by the institutions facilitating these traditional forms of payments. I believe that stablecoins do not present more or less risk, but rather different risks. In one sense, the fully-backed nature of stablecoins can help mitigate against systemic risk and make supervision of their holdings far simpler for regulators than traditional banks. On the other hand, stablecoins present unique operational risks based on their underlying technology and use in new…

China’s Digital Yuan (e-CNY) Used in First International Crude Oil Trade by CBDC: Report

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Serial Entrepreneur Robert Kiyosaki Predicts Bitcoin Price Rally to $135K Fueled by Fiat Inflation

The author of Rich Dad Poor Dad expects the prices of Bitcoin (BTC), Gold, and Silver to rally in the near future as every government around the world prints more money pushing inflation to a multi-year high. Popular entrepreneur and financial educator Robert Kiyosaki issued a prediction for Bitcoin (BTC), and top precious metals amid heightened volatility in the crypto space. According to Kiyosaki, Bitcoin price is well positioned to rally towards $135,000 in the near term. His BTC price prediction follows a recent rally induced by a fake update…

Bitcoin ETF to trigger massive demand from institutions, EY says

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Bitcoin (BTC) is in massive demand from institutional investors, but awaits a spot BTC exchange-traded fund (ETF) approval to trigger a buying rally, according to a blockchain executive at the professional services provider Ernst & Young (EY). EY’s global blockchain leader Paul Brody believes that Bitcoin is facing a lot of pent-up demand from institutions due to United States regulators not approving a spot Bitcoin ETF for years. Brody discussed the outlook for the cryptocurrency adoption on CNBC’s Crypto Decrypted on Oct. 23, declaring that trillions of dollars in institutional…

Blockchain Potential: A $2.1 Trillion Boost To Global GDP By 2030

In the age of growing digitalization, blockchain has emerged as a pivotal force propelling the progress of developing nations. This transformative shift is powered by the integration of cutting-edge technologies, including blockchain, with the capacity to revolutionize traditional economic sectors. By leveraging these technologies, developing countries can achieve improved efficiency, transparency, and innovation within their respective industries. Unlocking The Global Economic Potential Of Blockchain Technology A recent analysis by Agile Dynamics shows there is potential for the technology to significantly transform the landscape of international transactions. According to Agile analysts,…

Chainlink MVRV Enters Bearish Zone As LINK Breaks $10, Correction Soon?

On-chain data shows the Chainlink MVRV ratio has shot up as LINK has rallied above $10, a sign that a steep correction may be due for the asset. Chainlink 30-Day MVRV Ratio Has Crossed The Bearish 20% Mark As explained by an analyst in a post on X, the last three times the LINK MVRV ratio hit similar levels as now, the cryptocurrency registered a sharp drawdown. The “MVRV ratio” (where MVRV stands for Market Value to Realized Value) is an indicator that measures the ratio between the Chainlink market…

Are Bitcoin (BTC) ATMs a menace?

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Bitcoin (BTC) ATMs have become both a convenience and a concern, with scammers exploiting unsuspecting victims. Authorities in the U.S. and other jurisdictions are now waging war against crypto ATM-based scams. California takes a stand with new crypto laws California has introduced rules for cryptocurrency transactions. Senate Bill 401, signed by Governor Gavin Newsom, means you can only do $1,000 worth of cryptocurrency transactions at ATMs each day, and starting in 2025, the most they can charge you is $5 or 15% of the transaction, whichever is higher.  Initially, some…

Economics professor states main threat for Bitcoin

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In the long term, the security of the first cryptocurrency is not threatened by quantum computing, but by a change in the reward model for miners. This was stated by Lawrence White, professor of economics at George Mason University. According to White, after the last Bitcoin (BTC) is mined, which will happen around 2140, the main source of income for miners will be transaction fees. At the same time, the professor emphasized that at the moment the first cryptocurrency is protected from hacking since an attack on its network using…