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2024-04-29

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Marathon Digital Soars with 245% Increase in Bitcoin Production Web3 gaming, a sector frequently criticized for being overrun by “whales” focused more on quick profits than sustainable growth, often comes under fire for its lackluster game design, subpar graphics, and questionable user experiences. The most granular data for cryptocurrency markets-Tardis.devThe crypto industry can’t be meaningfully compared in terms of economic and political significance to cases related to the major questions doctrine, NASAA said. Currently, Acel is under development as an Android application that allows users to manage multiple accounts and view transaction and payment histories. The team intends to ensure the Acel system provides an infrastructure that merchants are familiar with while also leveraging the trust and reliability offered by blockchain.

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Instadapp has $1.8 billion of value locked in its smart contracts, according to DefiLlama, making it the 10th biggest DeFi platform across all blockchains. Well-known XRP advocate and lawyer Bill Morgan argued that Ripple’s practice of selling fewer XRP from the one billion monthly release aimed at bolstering the XRP price. IG Group to sell two trading platforms for $216 mlnEverything seems to point to them being broke while putting on the illusion of strength. WSB highlighted that the financial powerhouses, historically associated with manipulating assets like gold, are now purportedly exerting pressure on the value of XRP. He argued that the manipulation takes place despite XRP’s recent legal victory against the SEC, which granted it regulatory clarity.

The Korea Times also reported that about 280,000 citizens fell victim to the sudden drop in UST and LUNA. Meanwhile, multiple sources have reported that people ended their lives after losing thousands to millions in LUNA investments. There was also this enraged investor who trespassed on Do Kwon’s home in Seoul after losing $2.3 million amid the crash. How rhetoric could impact on crypto markets What is an Order Book?As can be seen, employment opportunities and pathways to advancement are beginning to materialize within the economy of the metaverse. Professionals who have excellent people skills, technical capability, and business savvy may also get in on the first floor in non-technical or hybrid jobs and see their chances grow. Those players that quickly adapt to the metaverse and work to broaden their skill sets have a better chance of coming out on top. The report further revealed that XRP, Bitcoin, and Ethereum have seen a sharp institutional interest led by the world’s largest asset manager, BlackRock. One of such action is the influx of traditional financial firms in filing for Bitcoin ETF in the U.S.

Bitcoin (BTC) rejected at $28,000 after the Oct. 5 Wall Street open as a return toward six-week highs failed.BTC/USD 1-hour chart. Source: TradingViewBitcoin sees swift comedown after new $28,000 retestData from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls attempted to match levels from earlier in the week.This encountered problems just above the $28,000 mark, however, with the subsequent hourly candle sending the market down $700, or 2.5%.Commenting on the status quo, on-chain monitoring resource Material Indicators was unsurprised. Its proprietary trading tools had warned of a fresh downturn, it said, and the chain of events could still repeat.“If you didn’t see this rejection coming, then you might want to evaluate your tools, because both TA and Trend Precognition indicated a high probability of a rejection,” part of an X post stated.“That doesn’t mean we won’t see another attempt, because we probably will.”Continuing, Material Indicators co-founder Keith Alan eyed a possible trading range for BTC/USD going forward, noting that the current spot price zone was the site of “key” support/resistance flips in prior bull markets.“So far, Key Moving Averages are serving as strong technical resistance (and support). Breaking this range to the upside is a possibility this month. If it happens, a lot of people are going to get rekt along the way,” he told X subscribers.“A close above the 200-Week MA would fuel bullish hopium. A close below the 21-Week MA keeps BTC ranging between $25k - $28k until something breaks.”BTC/USD annotated chart. Source: Keith Alan/XAt the time of writing, the 200-week and 21-week MA stood at $27,970 and $27,868, respectively.Others were more optimistic, with Michaël van de Poppe, founder and CEO of trading firm MN Trading, describing Bitcoin as “very much ready” to tackle $30,000 resistance.“Few levels of importance for Bitcoin here,” he wrote in X analysis the day prior.“Holding above $27,200 would be substantial for upwards continuation, but preferably is a retest at $26,700–$26,900 before we’ll continue the rally to $30,000. Sentiment flipped quite fast.”BTC/USD annotated chart. Source: Michaël van de Poppe/XTrader taps RSI for BTC price bottomElsewhere, popular trader and X commentator Ali revealed a BTC price trading method that he argued had tracked recent local tops and bottoms.Related: Bitcoin still beating US dollar versus ‘eggflation’ — Fed dataThis revolved around the relative strength index (RSI), which on four-hour time frames had fluctuated between approximately 30 and 75 since late August.“Currently, the RSI stands at 51. Patience is key! We might be best waiting for the RSI to drop below 30.35 to buy the dip!” part of an accompanying commentary advised.Ali uploaded a chart showing a classic “sell” signal coming at the start of October, implying a new “buy” signal could come next — alongside a BTC price local low.BTC/USD chart with 4-hour RSI data. Source: Ali/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Bitcoin and Ethereum continue to dominate the market uncontested. But their performance over the last few months has been lackluster. Do they have what it takes to give generous returns to investors this year? Or, is it time for investors to start looking for emerging alternatives like eTukTuk for that 10X price surge? Here is an analysis. Can Bitcoin Price Climb to $50K in 2023? The Bitcoin price has been hovering below $30,000 over the past couple of months. But long-term investors are optimistic that a potential price reversal is just around the corner. They’re not completely wrong. Bitcoin appears to be slowly regaining its footing, and the Bitcoin halving event scheduled for April 2024 is likely to play a key role in shaping its price trajectory.According to analysts, Bitcoin could climb to as high as $100,000 in the weeks leading up to this event. Investors are expanding their BTC portfolio and cherishing this dream.Bitcoin 1-year price action, CoinMarketCapBut such a rapid ascent to $100,000 is unrealistic. If BTC were to hit $100,000 by April 2024, it should have begun the climb long back. That has led a substantial portion of analysts to predict a more conservative target of $50,000 for BTC.There are also less popular opinions that BTC could experience a significant dip, potentially to as low as $20,000, ahead of the halving event. High-cap assets like BTC are losing their grip among young investors who have faced losses since 2021. BTC’s price trajectory in the coming months will be crucial to its journey ahead. If it fails to cross the $40,000 mark by the year's end, a cascade of sell-offs may follow.Ethereum will Flat-Line into 2024ETH has to be one of the most disappointing cryptocurrencies of 2023. Despite the growth of the underlying blockchain and its unrivaled dominance, ETH has not managed to target a price point above $2K.Ethereum 1-year price action, CoinMarketCapIt is likely to flat-line into 2024, as a result. But if the broader market perks follow in the lead of Bitcoin, Ethereum will also benefit from the enthusiasm. In that case, it has the potential to climb anywhere from 25% to 30% up the charts. But whether or not it will be able to retain the price surge depends on a wide range of factors. The general market environment plays a key role in that. ETH investors targeting anywhere above $2K are going to be disappointed, however. eTukTuk Provides HopeeTukTuk is one of the most promising cryptocurrencies to enter the market this year. The utility-first project is led by the vision to introduce a rich EV infrastructure to developing economies. It is widely touted as the Tesla of developing nations for the same reason. The best that established cryptocurrencies like Ethereum and Bitcoin can hope in a year is 50% to 100% above their current price. Robust new cryptocurrencies like eTukTuk, on the other hand, have the potential to complete that trajectory in less than a few days. eTukTuk, being still in the presale phase, provides a large room for growth. High market relevance Developing economies stand to gain a lot from the shift to electric vehicles (EVs). To begin with, their large traffic congestion leads to higher levels of air pollution. EVs, being powered by greener electricity, leave less carbon footprint. The reduced operational and maintenance cost associated with EVs is another benefit. Local drivers can benefit from up to a 400% surge in income by switching to eTukTuk.But the affordability of EVs remains a considerable challenge for people living in developing countries. EVs require higher initial capital than their traditional, carbon-intensive counterparts. Moreover, private vehicle ownership remains an elusive dream for the majority of them. Here, public transportation options like buses, trains, metros, and Tuk Tuks are the norm. Three-wheeler taxis called Tuk Tuks strike a perfect balance between affordability and convenience. But they emit more CO2 than the average car and are a major contributor to air pollution. How eTukTuk makes a difference Here are the key features of eTukTuk:A streamlined design comprised of fewer than 200 components enables local manufacturing. That, in turn, cuts down their initial capital investment.Prioritizes safety with patented roll cage designs and the use of LFP batteries.Cutting-edge AI solutions boost driver efficiency, optimize routes, ensure efficient battery consumption, and accurately predict recharging schedules.eTukTuk operates within a peer-to-peer economy that rewards all participants – Territory Partners, Drivers, and Power Stakers.The project also has a play-to-earn game in development that offers users an additional source of income from the comfort of their homes.How high can TUK go?TUK is the native crypto of eTukTuk that is now selling for its presale price. That gives users an attractive opportunity to buy the token before it hits public exchanges and take advantage of its upcoming price surges.TUK works best as a long-term investment with the potential to surge 80X to 100X in a year. FOMO gives it short-term growth potential, ranging from 1500% to 2000% this year. VISIT $TUK TOKEN SALEBitcoin Dips Under $28K; Ether ETFs Lack Spark; InQubeta Presale Smashes $3.5M Best Crypto Exchanges in June 2023: The COMPLETE GuideThe book’s moral framework perplexingly celebrates SBF’s indifference to wealth, painting him as a monk-like figure who “sincerely” pays taxes and is oblivious to material pleasures. Lewis compares him to another character, representing a stereotypical crypto enthusiast interested in sports, cars, and women. Needless to say, when it comes to comparing the performance of a DCA strategy in Bitcoin versus literally any other asset, there is little comparison to be made.To diversify or not?Traditional asset managers tend to abide by certain rules, one of them being the idea of rebalancing. When a particular asset outperforms, profits should be taken and distributed elsewhere, according to this line of thinking.It can be considered a form of diversification “on the go,” so to speak. But whether discussing diversifying from the onset of constructing a portfolio or as time goes on, how would such a strategy compare to going all-in on what has so far been considered one of the riskiest, most speculative assets of all time?The answer is simple: Doing so would be “selling the winner to buy the losers,” as investor Michael Saylor has said.On a five-year basis, BTC/USD is up 376%. Compare this to about 55% for the S&P 500 or gold.5-year chart of BTC, SPY and gold. Source: TradingViewTaking profits from Bitcoin at any point in time and putting them into other assets would have decimated a portfolio’s potential. Income from dividends doesn’t compensate, except for those working with multimillion-dollar portfolios. And even then, the potential income would be dwarfed by the capital gains of holding a large Bitcoin position.While the concept of “risk” often implies volatility and potential downside, what about the risk associated with “playing it safe?” Some argue that investors should also be concerned about the potential of their portfolios to barely keep pace with the rate of inflation, which has become a significant risk in recent years.Related: CPI meets low BTC supply — 5 things to know in Bitcoin this weekMacro trends to considerProponents of Bitcoin and the DCA strategy have long since contended that BTC serves as the ultimate hedge against monetary inflation and overall financial market uncertainty.Despite critics’ best efforts aimed at destroying this narrative, it has prevailed.Look no further than the banking collapses of 2023 and Bitcoin’s resulting rally for proof. Furthermore, while the saying “so much for an inflation hedge” became popular in 2022 as BTC fell sharply from its all-time high, that idea strangely seemed to go by the wayside in 2023.YTD chart of BTC/USD. Vertical line indicates the day of the collapse of Silvergate. Source: TradingViewWhen it comes to money printing, there is perhaps no crypto meme more famous than “money printer go brrr.” This meme depicted Federal Reserve Chair Jerome Powell at a printing press spewing freshly minted US dollars.A big reason that meme was so successful was the truth behind it: The growth of the M2 money supply has been highly correlated to the price of BTC/USD since its inception.Ok, two more charts and some thoughts...this time on crypto....Is the accepted narrative of the BTC Halving cycle what drives the BTC cycle (and all crypto) or is it the macro? Im starting to think it's all about the macro This is global M2 YoY vs Crypto market cap #Bitcoin pic.twitter.com/sSB7CaVFdE— Raoul Pal (@RaoulGMI) July 21, 2022

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