Month: May 2024

Bitcoin Bottom In? Retracement From $73,800 Is Deeper And Took Longer To Form

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Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is showing signs of strength, multiple leveraged longs were liquidated early this week. In a post on X, one analyst thinks Bitcoin might have just found support, bottoming up after the contraction this week, pushing it lower from the multi-week range established in mid-March through to the better part of April.  Bitcoin Retracement Is Deeper And Took Longer: Bottom In? Expressing confidence, the analyst cited a historical pattern. Based on a price action assessment in the weekly chart,…

Why MoonPay and PayPal (PYPL) Partnered to Expand Crypto Adoption in the U.S.

Ivan Soto-Wright: Yeah, well, I think from our side, it’s just constant. We have this word inside of MoonPay called Kaizen, which is continuous improvement. It’s these 1 % incremental improvements that you make every single day. You do that over a year, and that’s a 3 ,000 % improvement. So we’re constantly learning from our users. The reality is it just takes time. You have to adapt that product. You have to get that feedback. You need to listen to your customers. And obviously, trying to solve some of…

Crypto Analyst Says Cardano “Ready For A Parabolic Bull Run,” Here’s Why

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An analyst has explained how, if the historical pattern followed by the ADA price is to be believed, Cardano seems ready to go on a parabolic bull run. Cardano May Be Set For A Bull Run Based On Historical Trends In a new post on X, analyst Ali Martinez has discussed what hints history may contain regarding where ADA’s price would go next from here. First, here is a chart shared by the analyst that shows the trend the cryptocurrency followed back in 2019: The pattern that the price of…

Two US Representatives Urge the SEC To Approve Options on Spot Bitcoin Exchange-Traded Funds: Report

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A pair of bipartisan US congressmen are reportedly asking the U.S. Securities and Exchange Commission (SEC) to greenlight options trading on spot Bitcoin (BTC) exchange-traded funds (ETFs). Citing a letter sent to SEC chair Gary Gensler, Axios reports that Representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) say that approving options trading on Bitcoin ETFs is critical and crucial to investors that the securities watchdog seeks to protect. Reads the document, according to Axios, “We urge you, without delay, to approve options on spot Bitcoin ETPs or to provide an…

Bitcoin climbs above $60k after US labor market report

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The price of Bitcoin has consolidated above $60,000 following the U.S. labor market report issued today. The rise in Bitcoin (BTC) happened shortly after the publication of the U.S. jobs report, which shifted expectations of the Federal Reserve’s key rate cut from November to September. Bitcoin gained more than 4% after the release of the statistics and continues to grow, moving towards $62,000, according to CoinMarketCap data. Source: CoinMarketCap CryptoQuant CEO Ki Young Ju said that Bitcoin whales accumulated 47,000 BTC in anticipation of the Fed’s report. Macroeconomic data has caused expectations…

Crypto Pundit Lists 4 Altcoins To Buy Once The Bitcoin Price Bottoms

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Crypto analyst DonAlt has listed four altcoins he will buy once he believes that Bitcoin’s price has bottomed. The analyst further provided insights into why he is particularly bullish on these altcoins.  Ethereum Is Number One On The Altcoins List DonAlt mentioned in an X (formerly Twitter) post that he will buy “ETH, DOGE, LTC, and maybe PEPE” whenever he believes BTC has bottomed. In a video posted on his YouTube channel, he gave insights into why he was bullish on these crypto tokens, especially Ethereum. The crypto analyst mentioned…

The Dollar Won, but Might the U.S. Lose Control of the Dollar?

Synthetic dollars, in effect, can cost more than “real” dollars because you need to over-capitalize your collateral in order to avoid the risk of losing that alignment with the U.S. dollar. Despite these risks, quite a few blockchain-based digital assets have been established with a peg to the U.S. dollar. The dai, from MakerDAO, is probably the most successful of these, though its backing today includes some U.S. dollar assets. There are others, however, that are pegged purely based on cryptocurrencies and other digital assets that do not connect with…

Friend.tech Token Launch Turns Into A Nightmare As Price Dives 98%

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The decentralized social network Friend.tech, launched in August 2023, is facing a significant setback as its native token, FRIEND, experiences a staggering 98.5% drop in value.  Investors who participated in the recent airdrop of FRIEND tokens have expressed serious concerns about the development, highlighting issues with token claiming and app functionality. Investors Hit Hard As FRIEND Token Crashes Upon its debut, the FRIEND token entered the market with a trading price of $169 per token, attracting 18,000 holders, and boasting a circulating supply of 14 million tokens.  However, the current…