Day: February 5, 2024

Bitcoin To $45,000 Or $30,000? Analyst Reveals Key Factor That Will Drive The Decision

boss

The flagship cryptocurrency, Bitcoin, looks to be at a crossroads as it continues to trade flat, indecisive about whether to move downward or upward. Commenting on this current price action, crypto analyst Eric Krown Crypto reveals key factors that will decide Bitcoin’s next move.  Bitcoin In “Outlier Land” In a video posted on his YouTube channel, Eric Krown used the Stochastic indicator to analyze Bitcoin’s current price and predict what direction the crypto token was likely headed. Based on his analysis, Krown noted that the current Stochastic level was pointing…

Taproot Wizards Sees Robust Demand for ‘Quantum Cats’ Bitcoin NFTs After Tech Delays

boss

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

The U.S. Energy Information Administration’s Sneak Attack on Bitcoin

Also in the accompanying report is an estimate of the amount of electricity used by U.S.-based Bitcoin miners. The estimate the agency came up with is between 0.6% and 2.3% of all U.S. electricity consumption. This is a wide band, but nevertheless it is couched in terms to imply that, whatever the actual figure, it’s too much. Even the lower end of the band, the report clarifies, would equal the annual electricity usage for all of Utah, West Virginia or other similar states. The higher end, we’re told, is equivalent…

Crypto Winter In Spain? New Taxes Target Digital Assets

boss

In a move that could have ripple effects across Europe, Spain is tightening its grip on crypto monitoring and seizing digital assets for tax debts. The Ministry of Finance, led by María Jesús Montero, is spearheading legislative reforms to grant the Spanish Tax Agency enhanced powers to identify and seize crypto holdings from taxpayers with outstanding debts. This follows a February 1st decree expanding the entities obligated to report tax information to the Treasury, encompassing banks, savings banks, and even electronic money institutions. The measures come amidst Spain’s proactive approach…

Multicoin Capital Is in Talks to Sell Roughly $100M FTX Bankruptcy Claim: Source

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin ETF (BTC) Bet at WisdomTree Hinges on Advisor Adoption

boss

Out of the ten bitcoin ETFs, WisdomTree’s BTCW has attracted the lowest amount of assets under management (AUM), roughly $12.8 million (296 bitcoin), according to Bloomberg Intelligence data. Asset management giant Franklin Templeton has the second lowest AUM with $64.5 million. Leading the way in asset gathering are BlackRock (more than $3B AUM) and Fidelity ($2.7B AUM). Grayscale, who converted its Grayscale Bitcoin Fund (GBTC) into an ETF and therefore came into the race with $30 billion in AUM, has bled about $10 billion of that since ETF trading began…

Security is improving despite over $126m lost in January crypto hacks

January 2024 saw a sixfold increase in the amount lost to web3 hackers who continue to exploit loopholes in smart contract codes employed by crypto and defi protocols. Hackers carted away over $126 million from several attacks on decentralized finance platforms last month, according to AMLBot Co-Founder and CEO Slava Demchuk. Incidents primarily stemmed from a handful of vulnerabilities ranging from multi-sig wallet compromises to loan attack vectors, Demchuk added. One of the largest hacks in January was on Orbit Bridge, a cross-chain protocol that lost north of $80 million…

Bitcoin CDD Shows Bullish Breakout, Rally Returning In Full Flow?

boss

On-chain data shows a bullish breakout brewing in the Binary CDD indicator for Bitcoin, a sign that a strong price rise could be ahead for the asset. Bitcoin Binary CDD Is Breaking Out Of Accumulation Zone As pointed out by an analyst in a CryptoQuant Quicktake post, the Binary Coin Days Destroyed (CDD) appears to be forming a pattern for the cryptocurrency that has usually been the starting point of a bullish trend. A “coin day” refers to a quantity that 1 BTC accumulates after staying dormant on the blockchain…

Crypto Analyst Says ADA Price Will Rise To $8, Here’s When

boss

The ADA price action of late indicates that of strong support over the $0.488 price level, as the crypto continues to perform lackluster in the past month. However, according to crypto analyst Ali Martinez, Cardano’s current price performance is somewhat of a repeat of previous price action.  The analyst noted that Cardano’s price movement looks a lot like late 2020 before ADA went on a massive bull run. If history repeats itself, Cardano could be poised for another major rally that sends the price to $8. ADA Price Chart Shows…