Month: March 2024

Bitcoin aims for $200k price tag during bull cycle

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Bitcoin could reclaim its all-time high with a 4% surge, and experts believe the crypto will grow at least three times its current price during this bull run.  Bitget managing director Gracy Chen said that Bitcoin (BTC) could potentially hit $180,000 to $200,000 in the ongoing cycle thanks to bullish interest in the top cryptocurrency by market cap from institutional stakeholders. At press time, BTC exchanged hands above $67,200, up over 6% in the past 24 hours per CoinGecko.  From the recent data on Bitcoin investors, it seems holders are…

Hits All-Time High Against Euro

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Bitcoin (BTC), the leading cryptocurrency, continues its remarkable bullish run, surpassing the $65,000 mark on Monday and inching closer to its all-time high of $69,000. Simultaneously, BTC has achieved a significant milestone against the Euro as economic concerns escalate across Europe.  BTC Achieves Record Highs Against 14 G20 Currencies Despite previous skepticism from European authorities, Bitcoin has soared to an all-time high of $60,200 against the official currency of the European Union (EU). This achievement is noteworthy, considering the Euro’s recent depreciation against Bitcoin, as depicted in the chart below.…

Crypto lawyer uncertain of May Ethereum ETF approval

Jake Chervinsky, Chief Legal Officer at Variant Fund, raised doubts about the SEC’s approval of spot Ethereum ETFs in the U.S. by the May deadline. Chervinsky highlighted the complex legal and policy environment in Washington, D.C., as a significant factor that could lead to the SEC denying the applications or requesting their withdrawal despite the successful launch of spot Bitcoin ETFs in January. SEC Chair Gary Gensler has clarified that the approval for Bitcoin ETFs should not be interpreted as a broader acceptance of cryptocurrency ETFs, emphasizing the unique status…

Tether’s USDT Stablecoin Touches $100B Market Cap, Benefiting from Crypto Trading Frenzy

The company has, however, received a fair amount of scrutiny over the years for its opaque reserve management, having at one point risky backing assets like Chinese commercial paper and credit to now-bankrupt crypto lender Celsius, and a lack of independent audits – a deeper financial analysis than attestations. It now says it is backed mainly by more secure investments such as U.S. Treasury bills, repurchase agreements and deposits in money market funds. Source

XRP Price Set To Hit $1 In March: Crypto Analyst

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In a recent technical analysis update, the crypto analyst known as Dark Defender provided insights into the price movements of XRP against the US dollar. The analyst employs the Elliott Wave Theory to dissect the price movements of XRP. This approach, rooted in the psychological patterns of market participants, illustrates price trends through a distinct 5-3 wave cycle. This includes five waves following the primary trend direction and three corrective waves. According to Dark Defender, XRP is exhibiting an uptrend since January of 2023, undergoing an “ABC” correction phase from…

Digital Asset Markets Display Robust Momentum and Heightened Activity – Blockchain News, Opinion, TV and Jobs

Bitcoin (BTC) wrapped up the week at approximately $63,100, marking a notable 22% surge from the previous week’s closing price of around $51,725. The week witnessed vigorous price action, particularly in the first half, as BTC experienced a substantial appreciation from Monday to Wednesday, peaking at $64,000 on Wednesday. Subsequently, the price stabilized in the latter half of the week, closing at about $63,100. As of the time of this writing, BTC has regained momentum and is currently trading above $65,000. The BTC Spot ETFs continue to exhibit strong momentum,…

Tether’s USDT surpasses $100b mark, sets new stablecoin record

Tether’s USDT stablecoin market cap exceeded the $100 billion mark today, setting a significant benchmark. As the first stablecoin to achieve this scale, USDT’s distribution has increased by over 9% from the beginning of the year, driven by a surge in demand for Bitcoin, which reached $66,000 today for the first time since November 2021. Tether’s position as the most frequently traded cryptocurrency worldwide has been cemented as part of the milestone. The peak in circulation reached $100.2 billion around 8:10 a.m. GMT on Monday, as per CoinGecko, though it…