Day: December 8, 2023

Ethereum rising and ETH/BTC outperforms Bitcoin, investors turn to ERC-20 tokens

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ethereum (ETH) has seen a welcome price bounce over the past week, finally outperforming Bitcoin (BTC) in the ETH/BTC pair after weeks of under-performance. This renewed strength seems driven by positive fundamentals and a broader resurgence in the altcoin market. As such, some investors are now exploring ERC-20 tokens as they diversify. Ethereum overtakes Bitcoin The ETH/BTC pair measures the value of Ethereum denominated in Bitcoin rather than a…

Bitcoin Has Been In A Class Of Its Own For The Last 10 Years, Expert Says

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Bitcoin vs. Gold: The Digital Currency’s Journey to $40,000 Jurrien Timmer, Director of Macro for Fidelity, offers insightful analysis of Bitcoin’s trajectory, likening it to “exponential gold.” His thesis suggests that Bitcoin, much like its elder counterpart, gold, holds value in times of structural inflation, yet it boasts an added venture twist. In that sense, Timmer believes both assets are prime to capture attention from investors looking to protect themselves from “reckless monetary inflation.” As seen in the chart below, if Bitcoin follows a similar trajectory to the previous, its…

Finding Common Ground Between Israelis and Palestinians

The fog of war currently shrouding Hamas and Israel is not the only fog obscuring a path forward in the Israeli-Palestinian conflict. While each side’s worst trauma has been triggered by Hamas’s depraved mass slaughter and Israel’s scorched-earth counter-attack—for Jews the Holocaust, for Palestinians, the Nakba—the fighting has also exposed a fundamental divide between two sets of grievances: what I call 1948—when the modern state of Israel was established; and 1967—when the occupation of the West Bank and the Gaza Strip began. 1948 challenges Israel’s right to exist as a…

US senators target crypto in bill enforcing sanctions on terrorist groups

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A bipartisan group of lawmakers in the United States Senate introduced legislation aimed at countering cryptocurrency’s role in financing terrorism, explicitly citing the Oct. 7 attack by Hamas on Israel. In a Dec. 7 announcement, Senators Mitt Romney, Mark Warner, Mike Rounds and Jack Reed said they had introduced the Terrorism Financing Prevention Act. The bill would expand U.S. sanctions to include parties funding terrorist organizations with cryptocurrency or fiat. According to Senator Romney, the legislation would allow the U.S. Treasury Department to go after “emerging threats involving digital assets”…

Binance Founder Ordered To Stay Put In The US In Ongoing Probe

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Binance Co-founder and former Chief Executive Officer (CEO) Changpeng CZ Zhao, has been confined to remain in the United States in advance of his sentencing expected to take place next year. Former Binance CEO No Longer Leaving The US The Binance co-founder has been ordered by US District Judge Richard Jones to remain in the country in a ruling on Thursday. Zhao was instructed to stay in the US due to the significance of his recent guilty plea. The ruling read: As relief, the government requests that Mr. Zhao be…

BTC rallying, Bitcoin clones could surge in 2024

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin’s (BTC) price has been on a tear in recent months, rising over 62% since mid-October. As the world’s largest cryptocurrency continues its remarkable rally, a new crop of Bitcoin clones and alternatives are emerging that could be poised for massive growth in 2024. This article explores why BTC is rising before analyzing two other crypto contenders that could also rise in sync. Spot ETF hype, legal tailwinds, and…

XRP Price To Go Parabolic? Crypto Analyst Confirms 1000% Golden Cross Has Returned

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The XRP price is still underperforming the general crypto market raising concerns among holders. However, it is not all bad for the cryptocurrency which boasts of one of the strongest communities in the sector. As for its price, the optimism toward a recovery remains high as crypto analyst JD has given a rather bullish prediction for the altcoin’s price. XRP Price Confirms Golden Cross Fo 1000% Rally In his latest analysis of the XRP price, crypto analyst JD has pointed out a bullish formation that could bode very good news…

Markets rethink Fed rate cuts as Bitcoin circles $44K on US jobs data

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Bitcoin (BTC) tapped $40,000 after the Dec. 8 Wall Street open as United States employment data shrunk market bets on interest rate cuts. BTC/USD 1-hour chart. Source: TradingView Bitcoin holds firm as jobs data unsettles U.S. dollar Data from Cointelegraph Markets Pro and TradingView covered the latest BTC price action as risk assets reacted to the latest U.S. inflation cues. Nonfarm payrolls came in above expectations at 199,000 versus 190,000, while unemployment was lower than forecast at 3.7% versus 3.9%, per an official release from the U.S. Bureau of Labor…

Vaneck submits fifth amendment for Bitcoin ETF launch

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James Seyffart, an analyst at Bloomberg Intelligence, reports that the American asset manager, VanEck, has submitted their fifth S-1 Amendment for their spot Bitcoin ETF.  The updated filing reveals their ticker $HODL. Seyffart also described a few highlights in the amendment, including the create or redeem language within the S-1 filings encompasses both in-kind and cash, which he suggests may be a trend in retaining this optionality.  However, at the same time, Seyffart noted that 19b-4 approvals might initially limit creations to cash, pending potential updates for confirmation. For this…