Month: March 2024

House Financial Services Committee Advances Bill to Repeal SEC Bulletin Preventing Banks From Offering Crypto Custody Services

The House Financial Services Committee of the U.S. Congress has advanced a resolution that seeks to disavow SEC SAB 121, a bulletin that leaves banks and financial institutions out of the cryptocurrency custody provider market. However, the resolution, advanced with bipartisan support, is unlikely to be passed at a vote on the House floor, according […] Source CryptoX Portal

Historical Data Signals Bitcoin Imminent 25% Plunge

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Historical data suggests that no Bitcoin cycle has peaked without experiencing significant double-digit corrections. These downturns, while daunting, have historically presented lucrative ‘buy-the-dip’ opportunities for investors. As Bitcoin continues its ascent, with its price hovering above $62,000, the anticipation of a potential correction looms large, offering a window into the cyclical nature of cryptocurrency markets. Market Maturity And Correction Patterns Seasoned investor CryptoJelleNL recently shared a post on X earlier today pointing towards an imminent correction in the 20-25% range for Bitcoin. Based on cycle analysis, this predicted dip indicates…

BlackRock Spot Bitcoin ETF Launches In Brazil, ETF Market Secures 4% Of Total BTC Supply

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BlackRock, the world’s largest asset manager, announced the iShares Bitcoin Trust ETF (IBIT39) launch in Brazil on Thursday. Starting today, Friday, March 1, shares of this index fund, which tracks the spot price of Bitcoin (BTC), will be traded on the Brazilian Commodities and Futures Exchange, known as B3. BlackRock Launches IBIT39 Bitcoin ETF In Brazil Karina Saade, president of BlackRock in Brazil, highlighted the company’s commitment to providing high-quality access vehicles to investors in the digital asset market. She stated: IBIT39 is a natural progression of our efforts over…

Bloomberg Strategist Sees Bitcoin as Global Alternative Currency — Warns Stock Market Drawdown Could Impact BTC

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Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S. […] Original

Cardano’s Price Performance In The Current Bull Run

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As Bitcoin (BTC) is currently in a bull run, eclipsing the $60,000 mark once again, the spotlight has turned to ADA performance in comparison. With a history that mirrors Ethereum’s (ETH) early days, ADA’s journey through the market’s ups and downs has prompted a closer examination of its potential trajectory. The eighth-largest cryptocurrency by market cap, ADA has seen its fair share of highs and lows, with a recent uptick in price sparking both interest and speculation about its future. Particularly, Cardano’s current trading level, lingering below the highs of…

Crypto Exchange Says Cardano Price Can Reach $165, Here’s When

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Cardano (ADA) is currently riding on the back of a 14% gain in the past seven days, allowing the cryptocurrency to break past the $0.70 price level for the first time since May 2022. According to crypto exchange Changelly, Cardano is poised to continue on this price growth and break over $1, $10, and $100 in the coming years and decades. Changelly Predicts Exponential Cardano Price Growth Cardano is one of the biggest cryptocurrencies by market cap with a cap of over $23.5 billion. Although ADA has since retraced some…

Wall Street Journal Accused of Defamation Over 2023 Tether-Bitfinex Article

When published, the story included several paragraphs on Harborne and AML. On Feb. 21, 2024, a week before the lawsuit was filed, an editor’s note was added: “A previous version of this article included a section regarding Christopher Harborne and AML Global, which applied for an account at Signature Bank. The section has been removed to avoid any potential implication that AML’s attempt to open an account there was part of an effort by Tether, Bitfinex or related companies to mislead banks, or that Harborne or AML withheld or falsified…

BlackRock’s IBIT Joins Elite ‘$10 Billion Club’ Amidst Soaring Demand

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The demand for spot Bitcoin exchange-traded funds (ETFs) has surged since their recent approval on January 10, with BlackRock’s IBIT Bitcoin ETF leading the way. This ETF has reached impressive milestones in less than two months, attracting significant investor interest and opening doors for various market participants to invest in the largest cryptocurrency directly.  As institutional and retail investors flock to these new investment vehicles, market experts predict a bullish trend and anticipate a potential price surge. Bitcoin ETF Frenzy According to Bloomberg ETF expert Eric Balchunas, BlackRock’s IBIT Bitcoin…