Day: January 4, 2024

Ex-Citigroup execs to launch alternative Bitcoin security amid ETF uncertainty

boss

In the face of ongoing uncertainty regarding the approval of spot Bitcoin ETFs, a new strategy has emerged from a group of former Citigroup executives.  The collective intends to introduce a novel Bitcoin financial product, a Bitcoin Depositary Receipt (BDR), that sidesteps the need for SEC approval. Recent reports have unveiled that Receipts Depositary Corporation (RDC), established by these ex-Citigroup leaders, is preparing to launch a financial instrument similar to American Depositary Receipts (ADRs) used for foreign stocks.  RDC’s official announcement shared plans to release the inaugural series of BDR,…

Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains

boss

An analyst has explained that a bear flag is potentially forming for Litecoin, which, if confirmed, might cause a decline for LTC to this level. Litecoin Could Be In Danger Of Deep Decline Due To This Bear Flag In a post on X, analyst Ali has pointed out a possible bear flag taking form for Litecoin. A “bear flag” is a pattern in technical analysis that, as its name implies, looks like a flag on a pole. The pattern takes shape when the asset observes a sharp downward move and…

Bitcoin’s brief sub-$41k plunge triggered ‘buy the dip’ social sentiment

boss

Bullish outlooks prevailed on crypto social media as proponents encouraged tapping price dips even as Bitcoin fell over 10% in a single day.  According to blockchain data provider Santiment, the number of “buy the dip” calls on platforms like Telegram, Reddit, Twitter, and 4chan skyrocketed beyond a 323 level not seen since March 2022. Buy the dip social volume and Bitcoin’s USD price | Source: Santiment Buy the dip sentiment surged following a sharp drop in the price of Bitcoin (BTC), crypto’s top token by market cap. BTC’s short nosedive…

Cryptocurrency ETPs Saw $2.2B of Inflows in 2023

At $2.2 billion, 2023 inflows were more than double that of 2022. The majority of this money hit in the final quarter, said CoinShares’ James Butterfill, as it became “increasingly clear that the SEC was warming up to the launch of bitcoin spot-based ETFs in the United States.” Source

XRP Price Gears Up For ‘Significant Upswing Soon’: Crypto Analyst

boss

The XRP price fell sharply yesterday as a result of Bitcoin’s flash crash, as did the entire altcoin market. The price briefly fell by 21% yesterday, plummeting from around $0.64 to $0.505. Although the price was still able to recover above the 200-day exponential moving average (EMA) in the 1-day chart at $0.5712 by daily close, it is still down around 10% compared to yesterday’s high. Nevertheless, crypto analyst Egrag Crypto remains bullish and was able to take some good out of yesterday’s crash. In his latest analysis of the…

Crypto doesn’t need a blockchain or token, Tether CEO says

In 2024, the crypto industry needs to provide users with “real-world use cases and applications” that are not necessarily based on a token or blockchain, according to Tether CEO Paolo Ardoino.  “Crypto doesn’t need a blockchain. It doesn’t need a token,” he told Cointelegraph in an exclusive interview. Ardoino argued that the next crypto killer app should be focused on the fundamental value proposition offered by cryptography, which consists of peer-to-peer transactions and privacy protections.  “It could be a booking system or an Uber competitor,” Ardoino explained.  According to the…

Bitcoin returns to $44k following temporary market dip

boss

After market uncertainty stemming from a Matrixport report, Coingecko, the worldwide data aggregator, reports Bitcoin has once again returned to $44,000. At the time of writing, Bitcoin (BTC) hit $44,199, a 4.1% in the last 24 hours, which, although incremental when comparing the top gainers for Jan. 4, represents 160.4% from the previous year. Looking back on the week, Bitcoin went as high as $45,913 on Jan. 2, the highest level it had reached since April 2022. Bitcoin dropped nearly 10% in a matter of hours, with one investor pointing…

Total crypto market cap may break above $2t in January: coins to watch

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. NuggetRush has raised over $1.45 million in presale. Bonk and Shina Inu draw the attention of investors who want to capitalize on high-performing assets. NuggetRush offers investors various opportunities, like a dynamic marketplace, gameplay, and income-generating opportunities.  2023 began on a difficult path but ended well as many projects surged to their all-time highs (ATH). The performance of many crypto assets, like Bitcoin (BTC), sent shockwaves across the market…