The reconsideration of the bill, ‘Regulating the industry and marketing of virtual assets — crypto assets’, received 38 votes out of a total of 80 lawmakers.
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Bitcoin on-chain data shows 5 reasons why the BTC bottom could be in
On-chain analysis gives compelling reasons why BTC price could be in the final stages of a bottoming process.
Bitcoin on-chain data shows 5 reasons why the BTC bottom could be in
After a whirlwind November for Bitcoin (BTC), certain on-chain and Bitcoin price metrics are suggesting that BTC’s bottom could occur in December. In Capriole Investments' latest report, they provide analysis on Bitcoin finding the bottom. When taking into realized value, miner capitulation, mining electrical costs, downdraw and record hodler numbers, a BTC floor of $16,600 - $16,950 seems formed.
Here are five reasons why Edwards believes Bitcoin price is coming closer to a cycle bottom.
SLRV Ribbons flash a buy signal
The SLRV Ribbons track investment flows by combining the 30-day and 150-day moving averages to the SLRV Ratio which is a percentage of the Bitcoin moved in 24 hours divided by BTC held for 6-12 months.
Bitcoin SLRV Ribbons. Source: GlassnodeAccording to Charles Edwards, the SLRV Ribbons outperform the BTC HODL strategy, making it a strong indicator of where BTC price might be headed.
While the SLRV Ribbons have been bearish throughout 2022, the recent move to $16,600 flipped the indicator to bullish. According to Edwards, the change creates a buy signal for investors and institutional funds still in the market, thus building a strong case for Bitcoin’s price floor.
Financial Stability Board aims to address crypto-related issues following 'failure of FTX'
Though the board can make recommendations to global policymakers, it largely acts as an advisory body with no enforcement authority.
Chainlink launches staking to increase the security of oracle services
Stakers will earn Chainlink tokens as they participate in a decentralized alerting system that flags the network when feeds are not meeting performing requirements.
US lawmakers request answers from Silvergate over ties to FTX: Report
Three senators said they were concerned about Silvergate following reports suggesting that the bank "facilitated the transfer of FTX customer funds to Alameda."
Ethereum 'March 2020' fractal hints at price bottom — But ETH bears predict 50% crash
Ethereum market analysts desperately search for the bottom but ETH price technicals aren't excluding further downside below $700.
Ethereum 'March 2020' fractal hints at price bottom — But ETH bears predict 50% crash
Ethereum's native token, Ether (ETH), eyes a strong bullish reversal after losing 25% from its November high of $1,675, according to a bottom fractal spotted by independent market analyst Wolf.
Can Ethereum price co its March 2020 fractal?
Wolf compares Ethereum's multi-month downtrend between May 2018 and March 2020 with a similar but relatively shorter correction after July 2022. If the move repeats, that means the price of Ether has bottomed in November 2022, according to the analyst, as shown below.
ETH/USD 2019-20 and 2022 price performance comparison. Source: TradingView/WolfWolf draws cues from March 2020's Ethereum price crash triggered by the Covid-19 pandemic — a black swan event. Similarly, ETH price was pushed down in November 2022 due to another black swan — the collapse of cryptocurrency exchange FTX.
But ETH/USD rebounded aggressively after the March 2020 crash, boosted by the Federal Reserve's rate cuts that injected more money into the economy, part of which flowed into the crypto market.
Similarly, in November 2022, Ether's modest recovery post-FTX "black swan" coincides with growing expectations of the Fed slowing its rate hikes. Thus, Ether has a good chance at repeating the March 2020 fractal to new monthly highs.
ConsenSys will shorten MetaMask data retention to 7 days following privacy discourse
The firm sparked controversy last month after disclosing MetaMask's data collection practices.
Bitcoin clings to $17K as ARK flags 'historically significant capitulation'
BTC price action is suffering from FTX, but decentralized blockchains are "as strong as ever," says ARK Invest.
Bitcoin clings to $17K as ARK flags 'historically significant capitulation'
Bitcoin (BTC) and decentralized blockchains are “as strong as ever” in the wake of the FTX meltdown, ARK Invest says.
In the latest edition of its monthly newsletter, “The Bitcoin Monthly,” the investment giant came out firmly bullish on BTC.
ARK: FTX scandal may be "most damaging event" ever
With BTC price volatility ebbing into December, the industry is still reeling from ongoing FTX contagion.
As lawmakers only begin to get to grips with the events, when it comes to Bitcoin, ARK is doubling down on its conviction — and setting it firmly apart from centralized alternatives.
“The fall of FTX could be the most damaging event in crypto history,” one of the latest report’s “key takeaways” states.
Sushiswap chief says it only has 1.5 years of treasury runway left
The DEX's operating expenses currently amount to $5 million per year.
‘Father of the iPod’ helps Ledger create new cold crypto wallet
Tony Fadell, the man behind the iPod, iPhone and Nest Thermostat, collaborates with major crypto wallet firm Ledger to build a new cold wallet.
The impact of CBDCs on stablecoins with Bitget's Gracy Chen
For over 14 years, central banks worldwide have seen blockchain technology deliver highly secure, immutable, verifiable and transparent financial ecosystems, starting with the Bitcoin network. Central bank digital currencies (CBDCs) stood out as one of the ways for fiat currency to harness a part of what cryptocurrencies achieve today.
To not only keep up with rising inflation and cut down on operational costs but also to counter money laundering and related concerns, 98 of 195 countries — representing over 95% of global GDP — have either launched or are researching and developing their own versions of CBDC.
Global CBDC initiatives overview. Source: Atlantic CouncilWith CBDCs joining the race to dominate the future of finance, the relevance of the stablecoin ecosystem — cryptocurrencies backed 1:1 with fiat, such as the United States dollar — comes into question.
As the managing director of crypto exchange Bitget, Gracy Chen got a front-row seat to the global disruption of cryptocurrencies. In an interview with Cointelegraph, Chen shared her thoughts on the future of stablecoins as CBDCs make their entry into the mainstream.
Cointelegraph: How relevant will stablecoins be (in retail and wholesale markets) once CBDCs are circulating?
BTC difficulty drops by the biggest margin since 2021
Bitcoin mining difficulty has dropped by its biggest margin since July 2021 amid difficult conditions for miners.
BTC difficulty drops by the biggest margin since 2021
Bitcoin mining difficulty has dropped by its biggest margin since July 2021 amid difficult conditions for miners.
Bitcoin advocate dishes out sats over Lightning Network to raise BTC awareness
A Twitter user from the United Kingdom spent hours sending micropayments to strangers on the internet to demonstrate the Bitcoin Lightning Network.
Michael Saylor on the FTX fiasco: 'Unethical and illegal from the very beginning'
Saylor calls SBF the “poster child of the crypto world” while breaking down his antics, which ultimately brought the downfall of his empire.
Court sets new deadline for Celsius restructuring plan
Celsius halted withdrawals on the platform on Jun. 13 and filed for bankruptcy a month later on Jul. 14.
Strike partners with Bitnob to facilitate cross-border payments into Africa
On stage at AfroBitcoin, Strike CEO Jack Mallers announced plans to improve remittance payments into Africa thanks to the Lightning Network on Bitcoin.