Day: December 4, 2023

Bitcoin Triumphs Over $41,000, But Here’s What Could Prevent $50,000

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Bitcoin has broken past the $41,000 level during the past day, but FOMO could be the number one danger to a further surge towards $50,000. Bitcoin Social Dominance Has Spiked Following The Rally According to data from the on-chain analytics firm Santiment, signs of euphoria have appeared among Bitcoin traders following the latest climb in the asset’s price. The main indicator of interest here is the “social dominance,’ which is based on another metric called the “social volume.” This latter indicator basically tells us about the amount of discussion related…

Reinventing Lightning to Reinvent Bitcoin

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Bitcoin, the first cryptocurrency, is sometimes derided for being slow to adopt new innovations, a point Neigut contends. At Consensus 2023, for instance, she said the largest blockchain (by market capitalization) is poised for a “Cambrian explosion” of layer 2s that will accelerate adoption and development of the chain, including the one she’s working on. Original

Blockstream CEO Forecasts Bitcoin Surpassing $100K before BTC Halving, Sparking Divided Reactions

Anticipation is building for the approval of a spot Bitcoin ETF in January 2024. If it happens, it could bring a significant influx of at least $12 billion to $14 billion into the BTC market, potentially driving up the price. A bold Bitcoin (BTC) price prediction by CEO Adam Back of blockchain technology company Blockstream has sparked both optimism and skepticism within the cryptocurrency community. Back believes BTC could exceed $100,000 per coin before its next halving event, but his outlook goes against trends that the coin has had during…

Ripple’s Metaco Allies with Digital Asset Custodian Zodia for ‘Third Generation’ Crypto Solution

Industry watchers see the development advancing not only Ripple’s XRP token but also benefiting the wider crypto sector by adopting trusted financial industry models for security and cooperation. In a move viewed as transformational for cross-border cryptocurrency storage and transfers, blockchain company Ripple‘s Metaco custody network has partnered with digital asset custodial provider Zodia Custody. The collaboration marks what Zodia CEO Julian Sawyer regards as ‘third generation’ custody. The partnership tries to form a regulatory complaint and seamless digital service that also has traditional finance standards. Industry watchers see the…

Over Two Dozen Indian Crypto Service Providers Have Registered With Financial Intelligence Unit, Finance Ministry Says

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Brazil’s largest bank Itau Unibanco launches Bitcoin trading — Report

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Brazilian bank Itau Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec. 4. Itau, the largest bank by assets in Brazil and one of the leading lenders in Latin America, is debuting crypto trading with Bitcoin (BTC) and Ether (ETH), digital asset head Guto Antunes reportedly said. In the future, the bank plans to add more cryptocurrencies for trading, he noted. “It starts with Bitcoin, but our overarching strategic plan is to expand to other crypto assets in the…

Shiba Inu Price Enters Most Crucial Week In 1.5 Years, Here’s Why

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The Shiba Inu (SHIB) price is entering a week that has the potential to be the most important week in 1.5 years. As explained in previous analyses, SHIB has shown conflicting patterns in the weekly chart: a bullish quadruple bottom and a descending triangle. This week, the situation could be resolved and the bullish chart pattern may be validated. At press time, SHIB traded at $0.00000933. Thus, the Shiba Inu price broke above the descending trendline of the triangle pattern. Why SHIB Enters The Most Crucial Week In 1.5 Years…