Month: August 2024

Pi Network mainnet launch progresses, yet risks persist

The much-awaited Pi Network mainnet launch progresses while Bitcoin forms a rare death cross pattern. Pi Network developers have been working diligently this year to ensure the blockchain moves from the enclosed mainnet to the public mainnet phase. In a recent post, they noted that they were progressing well with the Know Your Customer verification for customers. Over 13 million pioneers have passed the KYC process and 6 million have already migrated to the mainnet.  The network has reached over 13 million Pioneers who have passed KYC and over 6…

Key Zones And Price Levels To Watch

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Ethereum has struggled greatly underneath the bearish pressure that has been mounted on the crypto market over the last few weeks. The ETH price suffered multiple crashes that sent it toward $2,000 once more, shattering the expectations for a new all-time high in the third quarter. However, this decline may only be short-lived as one crypto analyst has suggested that the Ethereum price could be getting ready for another rally that could push it toward its previous highs. Ethereum Looking Promising On 1-Week Chart Crypto analyst RLinda has posted a…

SEC Files Fraud Charges Against Promoters of NovaTech, Alleged $650M Crypto Pyramid Scheme

The company’s founders, American married couple Cynthia and Eddy Petion, who are now believed to be living in Panama, and promoters – including Martin Zizi, James Corbett, Corrie Sampson, Dapilinu Dunbar, John Garofano and Marsha Hadley, all named defendants in the SEC’s lawsuit – used “religious overtones” when soliciting investors. Cynthia Petion dubbed herself the “Reverend CEO” in NovaTech promotional materials and on her social media profiles, and claimed that God sent her a “vision” of starting the company while she was brushing her teeth. Source

Year-End Launch of Bitcoin ETF Options Could Lead to Price Drops

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Analysts and market observers anticipate that options trading for U.S. spot bitcoin exchange-traded funds (ETFs) could kick off before year-end. While there’s considerable buzz around these new investment avenues, the introduction of options trading might bring strategies that could temper bitcoin’s market price. Crypto ETF Options Likely by Q4 2024, But Bitcoin and Ether Prices […] Original

Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000

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Data shows the Bitcoin market sentiment has taken to extreme fear again as the asset’s price has seen a retrace to the $59,000 mark. Bitcoin Fear & Greed Index Suggests Market Now Extremely Fearful The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment that’s currently present in the Bitcoin and wider cryptocurrency markets. The index uses the following five factors to determine the sentiment: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends. It then represents this estimation…

Bitcoin mining analyst reaffirms CleanSpark stock as Buy

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CleanSpark stock has the potential for an upside despite the mixed earnings in its most recent financial report. H.C. Wainwright analyst Mike Colonnese reiterated the firm’s “buy” rating with a $27 target price for the shares of the Bitcoin (BTC) miner. The analyst reaffirmed CleanSpark’s buy rating in a note shared with crypto.news on Aug. 12. Analyst reiterats ‘Buy’ Rating for CleanSpark Despite the mixed third quarter 2024 financial results, H.C. Wainwright says the revenue growth of 129% year over year aligned with their estimate. CLSK, which hovered near $10.95…

Mixed Fortunes for US ETH ETFs: Blackrock, Fidelity and Bitwise Thrive Amid Market Shifts

Twenty days have passed since the debut of U.S. spot ethereum exchange-traded funds (ETFs), encompassing 14 trading sessions to date. During this period, the overall net inflows have dipped to a loss of $405.94 million. Nevertheless, Blackrock’s ETHA and Fidelity’s FETH have witnessed significant gains. ETHA’s net inflows are approaching the $1 billion milestone, while […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Crypto Analyst Reveals Best Altcoins To Buy After This Crash

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In the wake of the market crash of recent weeks, crypto analyst Michaël van der Poppe has provided an analysis of the trajectory of Bitcoin and its impact on altcoins. His remarks centered around Bitcoin dominance and the readiness of the altcoin markets, especially in sectors like Artificial Intelligence (AI) and decentralized finance (DeFi), for a potential rebound and significant growth. Van der Poppe started his analysis by discussing Bitcoin dominance, a metric that reflects Bitcoin’s market capitalization relative to the entire crypto market. The analyst noted that contrary to…