Month: June 2024

Bitcoin Price Slips Lower: Slow Descent or Opportunity Ahead?

Bitcoin price extended losses and declined below the $67,200 level. BTC found support near $66,650 and now consolidating in a range. Bitcoin spiked below $67,000 but the bulls are still in action. The price is trading above $68,000 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance at $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $68,400 level. Bitcoin Price Stuck Below $70K Bitcoin price extended its…

Hong Kong Reveals 17 Crypto Trading Platform Applicants as New Regulations Take Effect

Hong Kong’s Securities and Futures Commission (SFC) has published a list of two licensed crypto trading platforms and 17 pending applicants under the new regulations that went into effect on June 1. The financial regulator stresses that operating without a license is a criminal offense and commits to taking appropriate actions against any legal breaches. […] Source CryptoX Portal

Nobel Laureate Paul Krugman Claims ‘Inflation Bump Is Over’ — Peter Schiff Says Krugman’s View ‘Should Be Dismissed’

Nobel Prize-winning economist Paul Krugman and gold advocate Peter Schiff are in disagreement over inflation. Krugman believes that “the inflation bump is over.” However, Schiff argues that Krugman didn’t even foresee the inflation bump, emphasizing that the Nobel laureate’s view on inflation should be disregarded. Schiff explained that “all indicators point to a reacceleration of […] Source CryptoX Portal

Coinbase’s Legal Chief: SEC Is Bent on Choking the Digital Asset Industry

Coinbase’s chief legal officer, Paul Grewal, announced that the crypto exchange has filed a closing brief in the Third Circuit challenging the SEC’s denial of their rulemaking petition. The brief argues that the SEC’s order, which disagrees with claims that SEC rules are unworkable for digital asset firms, lacks reasoned decision-making. Grewal asserts that the […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Ark Invest exits Ether ETF race, 21Shares rebrands fund

Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), with its name removed from the application filed with 21Shares. 21Shares has submitted an updated application for its Ethereum spot ETF, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Ark Invest has also ended its partnership with 21Shares regarding this ETF. The amended Form S-1 shows no changes to the fees. Despite acknowledging Ethereum’s potential and long-term value, a representative from Ark Invest confirmed that the firm…

Veteran Trader Peter Brandt Predicts 100 Oz of Gold per Bitcoin

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Veteran trader Peter Brandt, with over four decades of experience, has highlighted bitcoin’s consistent gains against gold since its inception, foreseeing that 100 ounces of gold will be needed to buy a bitcoin. Meanwhile, Peter Schiff has insisted that the cryptocurrency “has underperformed gold for the past 2.5 years.” Peter Brandt Foresees Bitcoin Hitting 100 […] Original

tracking the surge of Dogecoin, Shiba Inu, Trump tokens and more

Meme coin mania has swept the cryptocurrency market, captivating investors with its blend of humor, speculation, and unexpected gains. At the time of writing, the sector boasted a market capitalization of more than $66 billion and a 24-hour trading volume of $5.3 billion.  Looking at data from crypto price tracking website CoinGecko, the meme sector’s market cap is markedly higher than that of other popular crypto narratives such as AI, DePIN, and layer-2.  Let’s look into the recent trends and forecasts for some of the most talked-about meme coins: Dogecoin…

Top cryptocurrencies to watch this week: NOT, AXS, TIA

Last week saw divergent trends among the top cryptocurrencies. While Bitcoin (BTC) suffered declines, with most altcoins following suit, a select few assets posted significant gains, continuing the rallies initiated two weeks before. However, despite some cryptocurrencies recording gains, Bitcoin’s price drop negatively impacted the broader market valuation. Consequently, the global crypto market cap decreased by 1.16% to $2.54 trillion. Here are our top cryptocurrency picks to watch this week following their notable performances last week: NOT, AXS and TIA prices – June 2 | Source: Santiment NOT spikes 304%,…

Consensus, CZ in jail, crypto scams abound

Today’s edition of the weekly recap: Industry leaders discuss crypto and U.S. regulations at Consensus 2024; Binance founder Changpeng Zhao begins his jail term; fraud schemes and rug pulls rock the industry; plus: a slew of venture capital activity.  Consensus 2024 Cathie Wood suggested that Bitcoin (BTC) was irreplaceable at this year’s Consensus, placing it above all other crypto assets. This contrasts Cardano founder Charles Hoskinson’s stance that Bitcoin could be replaced by “another digital gold.” Tom Emmer, Majority Whip of the U.S. House of Reps, slammed the U.S. SEC…

Pro-Bitcoin President Bukele Begins Second Term in El Salvador

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The pro-bitcoin president of El Salvador, Nayib Bukele, commenced his second term on June 1 at the National Palace in San Salvador, with his family and a large crowd in attendance. Despite rising economic concerns, Bukele’s popularity remains robust. His administration’s notable policies include adopting bitcoin as legal tender. During his first term, over 80,000 […] Original