Tag: Pivotal

Why Tornado Cash Remains the Most Pivotal Legal Case in Crypto

Indeed, it is not. We should have the right to transact freely online, whether it’s to communicate with words or to exchange value in the form of crypto. The operation against Tornado supposes that all money sent through a mixer is necessarily dodgy, when, in all likelihood, only a portion of the $1 billion was laundered and sent to North Korea. Vitalik Buterin, for instance, used Tornado to send funds in support of Ukraine (presumably because he didn’t want to make that donation public). In effect, as my colleague Dan…

A Pivotal Year for Bitcoin with SEC’s ETF Approval and Halving Event Reshaping Digital Asset Dynamics

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On the demand side, the SEC’s potential approval of a spot bitcoin ETF should open the door for a significant number of new investors seeking exposure to the price of bitcoin directly in their traditional investment accounts. They can now forego the complexity of dealing with crypto exchanges, and access a familiar investment vehicle — an ETF. This will spark both higher liquidity and greater price stability in bitcoin. Equally importantly, the SEC’s approval represents a significant milestone for bitcoin’s growing legitimacy with established financial institutions. Original

BTC Consolidates, Ahead of Pivotal FOMC Meeting – Market Updates Bitcoin News

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Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. Many expect that the Federal Reserve will maintain rate hikes, however at a slower pace of 25 basis points. This comes after the U.S. announced it will explore measures to guarantee client deposits at embattled banks following a recent crisis. Bitcoin Bitcoin (BTC) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting. Following a high of $28,352.76 to start the week, BTC/USD fell to…

Bitcoin-Ether Ratio Hits 3-Month High, Friday's Close Pivotal

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The bitcoin-ether ratio rallied to the highest level in three months on Monday as adverse macroeconomic conditions unexpectedly took a bigger toll on the native token of Ethereum’s blockchain. The ratio climbed to 15 on Monday, hitting the highest since Oct. 25, a chart provided by TradingView shows. Bitcoin has consistently outshined ether over the past six weeks, evidenced by the ratio’s 32% increase since Dec. 8. While ether has declined 45% since then, amid heightened expectations of a U.S. Federal Reserve interest-rate increase, bitcoin, despite being considered an inflation…

Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’

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A painful retracement in the Bitcoin (BTC) market earlier this week sent the price below $40,000 for the first time since September 2021. Many analysts predicted the decline to continue toward the $30,000 to $35,000 range, but the price reclaimed $40,000 as support again and on Wednesday BTC made an abrupt move above $44,000. This rekindled hopes that the $40,000 level is perhaps where Bitcoin may bottom out before continuing its move higher in 2022. Jurrien Timmer, the director of global macro at Fidelity Investments, called $40,000 a “pivotal support,”…

Enterprise blockchain to play a pivotal role in creating a sustainable future

Bitcoin (BTC) is often used to criticize all blockchain-based projects. This is understandable since Bitcoin was the first project to use a blockchain, is arguably the most recognizable and is the largest cryptocurrency by market cap. In the first half of this article, I will use Bitcoin as a proxy for all blockchain-based projects because most people associate blockchain with Bitcoin. Anything environmentally positive that can be said about Bitcoin will be doubly true for the vast majority of newer blockchain-based projects since Bitcoin uses the oldest version of blockchain…

Central banks must play ‘pivotal role’ in digital money, says BIS exec

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With central bank digital currencies — or CBDCs — on the agenda in many countries, the general manager of the Bank for International Settlements has weighed in on the role of the mainstream financial establishment in the emerging digital currency landscape. Speaking at the Hoover Institution policy seminar on Jan. 27, Agustín Carstens argued for central banks to be front and center in issuing and controlling digital money: “If digital money is to exist, the central bank must play a pivotal role, guaranteeing the stability of value, ensuring the elasticity…

Ethereum Defends Pivotal Technical Level Despite Yesterday’s Drop

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Ethereum and Bitcoin underwent a strong drop the other day after days of consolidation. Ethereum slipped from the $590 region to lows around $550, marking a strong decline for the cryptocurrency that had benefited so much from the ETH2 launch. Ethereum was falling alongside BTC. The market was seemingly dropping as a result of the U.S. dollar bouncing. Fortunately, bulls have quickly retaken control of the crypto-asset market. One crypto-asset analyst noted that despite dropping yesterday, ETH held a pivotal level that may mean there are further gains ahead for…