Month: January 2024

Economist Predicts $115K Bitcoin Peak, Then Historic Crash

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Renowned macroeconomist Henrik Zeberg has set the financial world abuzz with a stark prognosis on X (formerly Twitter), forecasting a dramatic surge in the Bitcoin price to a peak of $115,000 to $150,000. However, this meteoric rise is predicted to find an abrupt end, caused by a devastating macroeconomic downturn, one that Zeberg anticipates will be the most severe since the 1929 crash. Why A Recession Will Hit The US In 2024/2025 At the core of Zeberg’s argument are seven reasons. Zeberg asserts, “Our Business Cycle has flashed a recession…

Bitcoin mining reaches new all-time high of 54% renewable use

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A recent report indicates a significant surge in sustainable energy use for Bitcoin mining. The report, released on Jan. 18 by Bitcoin (BTC) environmental, governance, and corporate governance (ESG) analyst Daniel Batten, is based on data from the BEEST model and an in-depth analysis of publicly available information, highlights that Bitcoin mining’s sustainable energy usage has soared to an unprecedented 54.5%, marking a 3.6% increase over the calendar year 2023. The Bitcoin ESG Forecast’s blog article emphasizes the substantial progress made over the past four years, comparing Bitcoin’s sustainable energy…

Conflux to launch Bitcoin L2, testnet expected by March

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Conflux Network introduced an EVM-compatible layer-2 solution that can interact with Bitcoin amid growing interest in crypto’s largest blockchain.  According to Conflux, users can move Bitcoin (BTC) and inscription-powered assets between its blockchain and Bitcoin’s ecosystem. The new L2 network will run atop the main Conflux chain and use BTC for gas fees while supporting Ethereum-based smart contracts via the Ethereum Virtual Machine (EVM) standard.  A mainnet is expected to roll out by May if all goes to plan. Before that, a testnet teased by the end of March will…

Crypto Analyst Predicts Massive Breakout Against Bitcoin

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Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token. As part of his insights, the analyst hinted that the crypto token could outperform Bitcoin soon enough.  Injective To Breakout Against Bitcoin In an X (formerly Twitter) post, The Crypto Dog shared an INJ/BTC chart while hinting that an “incredibly bullish structure” was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a massive move…

Roundhill launches YBTC Bitcoin ETF with OTM strategy

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Roundhill Covered Call Strategy, one of the most popular investment strategies in the ETF industry, is launching its own Bitcoin ETF. Roundhill Investments is the latest firm to launch a Bitcoin ETF designated by the ticker YBTC. The ETF has started trading today at the Chicago Board Options Exchange (CBOE). YBTC is an actively managed fund that aims to mirror the dynamics of Bitcoin, primarily through its investment in the ProShares Bitcoin Strategy ETF (BITO).  One of the key strategies employed by YBTC is the selling of out-of-the-money (OTM) call…

Navigating the New Era of Crypto Compliance and Maturation in 2024

2023 was a year of both challenge and stabilization in crypto. Traditional financial services (“tradfi”) entities scaled back their engagement with crypto and DeFi, exploratory partnerships never materialized, legislators cheered and raged at the industry, and more entities and individuals sought safe, trusted choices in crypto. Now, with the recent spot BTC ETF approval bringing more institutional and lower-risk investors into at least tangential engagement with crypto, what will the 2024 U.S. regulatory environment bring to bear, and how will that affect investment and engagement with crypto? Source

XRP holders exploring new altcoin, Bitcoin Minetrix

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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. Analysis suggests that holders of XRP, XRPL’s native currency, are considering Bitcoin Minetrix (BTCMTX) in the ongoing presale. So far, the Bitcoin Minetrix presale has raised over $8.7 million. Moreover, more than 558 million BTCMTX staked via the platform’s stake-to-mine protocol. Bitcoin Minetrix allows users to mine BTC via staking Bitcoin Minetrix’s stake-to-mine protocol allows BTCMTX holders to earn cloud mining power simply by staking their tokens. This cloud…

BlackRock reports diverse investor interest in its spot Bitcoin ETF

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BlackRock reveals that its Bitcoin ETF draws a wide range of investors, reflecting growing interest across different investor profiles in the crypto market. In a recent interview with Bloomberg TV, Rachel Aguirre, Head of U.S. iShares Product at BlackRock, discussed the burgeoning interest in the company’s new spot Bitcoin ETF, IBIT. In response to inquiries about whether an investment in IBIT was being redirected from Grayscale’s GBTC product, Aguirre noted that the firm “observed engagement from various investors, including both retail and self-directed types.” She mentioned that some “investors had…

Wolfe says it’s time to take some profit in bitcoin, sees further consolidation on the horizon

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Bitcoin has been struggling since the launch of bitcoin ETFs and may continue to for some time, according to Wolfe Research. The cryptocurrency has fallen 9% since the Securities and Exchange Commission gave bitcoin ETFs the green light to begin trading in the U.S. on Jan. 10. This is just the beginning of what may be a disappointing first quarter of the year, Wolfe’s Rob Ginsberg said in a note Wednesday. “Bitcoin now faces resistance on multiple fronts,” he said. “Is it going to tank? Probably not. But much like…