Day: February 7, 2024

Ticking Time Bomb Within 10 Days

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Bitcoin has been moving sideways since mid-January, when the price broke out of a parallel upward channel to the downside. The BTC price is currently around the same price as on January 13. However, the time of dullness could soon be over, as the Bollinger Band Width (BBW) indicator signals. The BBW is derived from the Bollinger Bands themselves, which consist of a middle line (typically a simple moving average) surrounded by an upper and lower band. These bands expand and contract based on the standard deviation of the price…

US Congress challenges Yellen on crypto regulation, seeks clarity on Howey Test’s role

U.S. Congress members have challenged Treasury Secretary Janet Yellen‘s call for stronger crypto regulation, pointing out the Howey Test’s shortcomings in consumer protection in a recent letter. A new letter published by US members of Congress asks for clarity on the role of the country’s top regulatory in adopting crypto specific legislation. The letter was backed by key figures, including House Financial Services Committee Chair Patrick McHenry, House Agriculture Committee Chair Glenn Thompson, and Representatives French Hill and Dusty Johnson. They are seeking a comprehensive explanation from Yellen on how she envisions…

B2C2 Gains Luxembourg Virtual Asset License as EU’s Crypto Rules Set to Kick In

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Polkadot declining, Bitcoin under pressure as excitement builds ahead of Pullix launch

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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 (BTC) and Polkadot (DOT) prices remain volatile. Meanwhile, interest in Pullix (PLX), a hybrid cryptocurrency exchange launching in 30 days, is rising.  Pullix launching in 30 days The Pullix presale is at its tail end. Afterward, the hybrid exchange will launch in 30 days. The project has gained significant support and funding from investors. This surge in interest is due to the platform’s profit-sharing model and approach to…

Ethereum Price Faces Big Move – Can Bulls Send ETH To $2,500?

Ethereum price gained traction and climbed above $2,350. ETH is now showing positive signs and might extend gains toward the $2,500 level. Ethereum is gaining bullish momentum above the $2,350 zone. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There was a break above a key rising channel forming with resistance near $2,350 on the hourly chart of ETH/USD (data feed via Kraken). The pair might correct lower, but dips could be limited below the $2,335 support zone. Ethereum Price Turns Green Ethereum price formed a…

Bittensor (TAO) Surges 100%, Eyeing $3 Billion Market Cap: Analyzing The Propelling Factors

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Among the digital currencies focused on artificial intelligence (AI), Bittensor (TAO) has recently gained significant attention as the best-performing asset, soaring by an impressive 109% over the past 30 days and achieving a market capitalization of $2.9 billion.  To comprehend the driving forces behind this growth, it is essential to understand what underpins the platform and the catalysts that have captured investors’ attention, enabling it to reach an almost $3 billion market cap in record time. Bittensor ‘Game-Changing’ Upgrade?  According to Sami Kassab, a researcher at Messari, Bittensor has transitioned…

Bitcoin Price Reclaims 100 SMA But Can Bulls Clear This Hurdle

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Bitcoin price is consolidating above the $42,500 support zone. BTC could gain bullish momentum if it clears the $43,500 resistance zone. Bitcoin price is still struggling to clear the $43,400 and $43,500 resistance levels. The price is trading above $42,500 and the 100 hourly Simple moving average. There is a key rising channel forming with support at $42,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if it clears the $43,500 resistance zone. Bitcoin Price Aims Higher Bitcoin price…

Monero Plummets Following Major Crypto Exchange Delisting

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On February 6, Monero (XMR), a privacy and security-focused token, saw its price drop after Binance, one of the largest crypto exchanges, announced its delisting in the following weeks alongside another three tokens. Monero (XMR) To Be Delisted This Month Binance recently announced the delisting and cease of all trading activity of Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) starting on February 20, 2024, at 03:00 (UTC). The decision came after Binance’s most recent review, which determined that the platform could no longer support the tokens. Following the review…

US Treasury Secretary Janet Yellen Urges Congress To Pass Crypto Legislation

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In a recent statement before the House of Representatives, US Treasury Department Secretary Janet Yellen emphasized the need for Congress to pass legislation that provides clarity and regulation in the crypto markets.  Secretary Yellen Calls For Action ‘Digital Asset Risks’  During the Financial Committee hearing, Yellen highlighted the “risks” associated with digital assets and called for measures to address potential vulnerabilities and non-compliance with applicable laws and regulations. Yellen specifically mentioned concerns related to runs on crypto-asset platforms, stablecoins, and the “proliferation” of platforms acting outside regulatory boundaries.  The Treasury…