Day: February 22, 2024

Bitcoin May Fall To $42,000 Ahead Of Major Rally

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In an exclusive interview with CNBC’s ‘Squawk Box’, Mike Novogratz, CEO of Galaxy Digital, provided an in-depth analysis of the current state and future trajectory of Bitcoin amidst a rapidly evolving financial landscape. The conversation spanned a variety of topics, including the recent surge in Bitcoin prices following the approval of spot Bitcoin ETFs and the impact of the Federal Reserve’s monetary policy on cryptocurrency markets. Bitcoin Amid Market Consolidation And Institutional Adoption Opening the discussion, Novogratz touched on the remarkable rally Bitcoin has experienced, while also suggesting a potential…

Ethereum Breaks Back Above $3,000, Will FOMO Lead To Top Again?

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Ethereum has once again broken above the $3,000 level after previous attempts ended in failure as FOMO took over the investors. Ethereum Has Rallied 3% In Past Day To Break Back Above $3,000 Earlier, Ethereum had made two attempts at the $3,000 level, but both of them had turned out to be brief as the asset quickly retraced back to lower levels. In the past day, ETH has once again made a push towards the mark, as the chart below shows. ETH appears to have shot up in the past…

Law Commission for England and Wales Seeks Views on Draft Legislation to Label Crypto as Property

“Personal property rights are important for many reasons, including in the event of insolvency or where assets are interfered with or unlawfully taken,” the commission said on Thursday. “However, because digital assets differ significantly from physical assets, and from rights-based assets like debts and financial securities, they do not fit within traditional categories of personal property.” Source

Billionaire Tim Draper Bullish On Bitcoin As It Will Surpass Traditional Currencies, Here’s Why

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Tim Draper, founder of Draper Associates and Billionaire venture capitalist, recently shared his thoughts on Bitcoin and the flagship crypto token’s potential to revolutionize the global economy. Specifically, Draper highlighted how BTC could replace the Dollar and other fiat currencies soon enough. BTC To Replace The US Dollar Draper mentioned during an interview on Bloomberg that the time is coming when people “won’t want the Dollars” anymore. He believes this would happen as a result of everyone having a preference for the flagship crypto token. When that happens, the billionaire…

South Korean Province Gyeonggi Uses Digital Tracking to Collect $4.6M From Crypto Tax Evaders

The process involved using the local registration number of violators or delinquents, as they are referred to in South Korea, held by local governments. This revealed the mobile numbers of the violators, which were then used to track the linked accounts on crypto exchanges. The system reduced the previous six-month long process of requesting case-to-case information from crypto exchanges to a mere 15 days. Source

Bitcoin pump stirs crypto as Meme Moguls, Solana, and Cardano surge

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The cryptocurrency market is witnessing a remarkable surge, led by a significant uptick in Bitcoin (BTC) prices. This upward momentum has cascaded into the altcoin sector, spotlighting Meme Moguls (MGLS), Solana (SOL), and Cardano (ADA) for their unique contributions and recent advancements. Bitcoin’s influence Bitcoin‘s recent rally, achieving a notable price point of $52,097.20, marks a significant moment for Bitcoin and the cryptocurrency industry​​.  This Bitcoin’s uptrend is underscored…

Spot Bitcoin ETF approval changes nothing, analysts at ECB insist

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European Central Bank analysts refute Bitcoin’s value despite the recent spot ETF approval, citing its unsuitability for payment and investment, and advocate for stricter regulations. The recent approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) changed nothing as the crypto’s fair value “is still zero,” Ulrich Bindseil, director general of market infrastructure & payments, and Jürgen Schaaf, adviser in market infrastructure & payments at the European Central Bank, said in a recent blog post. Refuting Bitcoin’s claims of being a global decentralized digital…

South Africa to Start Work on Stablecoin Regime and Tokenization

Alongside many countries, South Africa has been ironing out its approach to crypto. Last year, the Financial Sector Conduct Authority (FSCA) and the Financial Intelligence Centre (FIC) declared crypto to be a financial product and started registering crypto asset service providers. This year, the country will add stablecoins as a particular type of crypto, the Treasury department’s budget paper said on Wednesday. Stablecoins are digital assets whose value is tied to assets like the U.S. dollar. Source