Day: April 11, 2024

Bitcoin Price Gearing For Another Lift-Off to $72.5K: Dips Turn Attractive

Bitcoin price found support near $67,500. BTC started a fresh increase and might soon revisit the $72,500 resistance zone in the near term. Bitcoin retested the $67,500 support zone before it started a fresh increase. The price is trading above $70,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $69,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $71,400 resistance zone. Bitcoin Price Holds…

A16z Crypto Introduces Jolt zkVM for Blockchain Scaling

Andreessen Horowitz (A16z) Crypto has introduced Jolt, a zero-knowledge solution that integrates SNARKs, enabling faster SNARK-based Layer 2 solutions and enhanced security for developers. To tackle the scalability issues that blockchain networks are facing, A16z Crypto, the investment company Andreessen Horowitz’s cryptocurrency-focused branch, has unveiled Jolt, a zero-knowledge solution known as zkVM. This creative technique integrates SNARKs (Succinct Non-Interactive Arguments of Knowledge) in an effort to expedite and simplify blockchain scaling procedures. What is zkVM (Jolt)? Jolt is a revolutionary approach to virtual machine construction validated using SNARKs. It offers…

Bitcoin 2 Months Through “Euphoria Wave,” How Long Was The Last One?

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On-chain data shows Bitcoin has been going through a “euphoria wave” for two months. Here’s how long it was in this phase during the last bull run. Bitcoin Has Been In Euphoria Wave Phase According To Supply In Profit According to the latest weekly report from the on-chain analytics firm Glassnode, the current BTC cycle is similar to the last one regarding the “Supply Profitability State.” This indicator is based on the “Percent Supply in Profit,” which keeps track of the percentage of the total circulating Bitcoin supply that’s currently…

Crypto Analyst Firm On $1.7 Prediction For ADA

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Investors and analysts are trying to predict Cardano’s (ADA) price’s future performance. As the price continues to show red numbers, a top crypto analyst considers that ADA is “right where it should be.” Cardano Loses 10th Spot Against Telegram’s Toncoin Cardano’s recent spotlight has highlighted its disappointing price performance and lack of appeal for traders. Despite its technology and strong community, the ecosystem lacks the activity and demand of other chains like Solana. Recently, Charles Hoskinson defended the project, stating that “Cardano always wins,” referencing a poll ranking the best…

Lawmaker Highlights 2 Bills to Make US a Crypto Leader — Says Bitcoin Is ‘Unstoppable’

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Congressman Patrick McHenry says bitcoin is unstoppable and every regime that’s tried to shut it down has failed. He emphasized that the U.S. must become a leader in digital assets, noting that two congressional bills offer a path toward clear regulations. Two Pieces of Legislation Could Provide Greater Clarity in Digital Assets Congressman Patrick McHenry […] Original

Bitcoin Tumbles on Hot CPI Data, But This Analyst Stays Ultra Bullish: Here’s Why

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The better-than-expected United States Consumer Price Index (CPI) released on April 10 is already sending shock waves through the financial market. Bitcoin and most crypto assets are trading lower, extending losses recorded on April 9, weighing negatively against optimists. United States CPI Data Came In Hot According to Trading Economics data on April 10, CPI, a key economic metric for gauging inflation, rose 0.4% in March, pushing the annual inflation rate to 3.5%. Notably, this surpassed economist predictions and, most importantly, dashed hopes for the United States Federal Reserve (Fed)…