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Category Archives: Cryptocurrency
Cryptocurrency laundryman gets hung out to dry – The Register
Posted: March 18, 2024 at 11:31 am
Cryptocurrency laundryman gets hung out to dry The Register
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Bitcoin price predictions: How much more could it rise in 2024? – Euronews
Posted: at 11:31 am
Thinking about investing in the popular cryptocurrency? A recent report predicts that Bitcoin will reach a new all-time high in 2024.
Bitcoin (BTC) is expected to reach a new record of $88,000 (82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.
The cryptocurrency's current price sits at around $43,000.
UK fintech firm Finder carried out a study based onexpert price predictions of 40 crypto industry specialists on how Bitcoin is expected to perform through to 2030.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.
On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.
A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half. As things stand, those validating Bitcoin transactions currently get 6.25 bitcoins, which could go down to 3.125.
Halving events lead to a lower supply, with fewer Bitcoins made available, thereby leading to higher prices.
Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.
Kadan Stadelmann, CTO of blockchain platform Komodo, said in the report that Bitcoin is probably facing a fair bit of pressure, not only because of the expected halving event but also because "major companies and institutional investors [are] showing growing interest [in Bitcoin, which] is likely to drive demand."
Many experts forecast more buyers on the market following the US Securities and Exchange Commission's recent approval of 11 Bitcoin ETFs (exchange-traded funds), making it easier for individual investors to trade Bitcoin-related investment funds in the US stock exchanges.
The price could be propelled further upward once the US Federal Reserve cuts the historically high benchmark rate, as analysts expect more liquidity to consequently flow into Bitcoin.
However,John Hawkins, senior lecturer at the University of Canberra, believes that cryptocurrency is still little more than a speculative bubble.
"If the new spot Bitcoin ETFs are popular, there could be a temporary price increase. But, in the medium to longer-term, I still regard Bitcoin as a speculative bubble," said Hawkins, adding there were high expectations about similar ETFs entering the market in 2021, but the price crashed later.
BTC is expected to potentially climb to $122,688 (114,310) in 2025 and $366,935 (341,878) in 2030.
However, the truncated mean, a statistical measure of central tendency, puts the expected price at around $220,708 (205,636) by 2030.
Overall, the majority (58%) of panellists believe now is the time to buy BTC; 38% advise people to hold while 5% of panellists are in favour of a sale.
Cryptocurrencies are not regulated in the UK and there is no protection offered by the Financial Ombudsman or the Financial Services Compensation Scheme.
Disclaimer: This information does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances. Also remember, we are a journalistic website and aim to provide the best guides, tips and advice from experts. If you rely on the information on this page, then you do so entirely at your own risk.
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Shiba Inu Is Skyrocketing: Is It a Top Cryptocurrency to Buy Right Now? – Yahoo Finance
Posted: at 11:31 am
Shiba Inu Is Skyrocketing: Is It a Top Cryptocurrency to Buy Right Now? Yahoo Finance
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1 Top Cryptocurrency to Buy Before It Soars 1,328%, According to Cathie Wood of Ark Invest – The Motley Fool
Posted: at 11:31 am
1 Top Cryptocurrency to Buy Before It Soars 1,328%, According to Cathie Wood of Ark Invest The Motley Fool
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The other Bitcoin rally: How scams are cashing in on the cryptocurrency fever – EL PAS USA
Posted: at 11:31 am
The other Bitcoin rally: How scams are cashing in on the cryptocurrency fever EL PAS USA
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Kalshi Prediction Market To Introduce Cryptocurrency Betting (Payouts In USD) – Blockchain Magazine
Posted: at 11:31 am
March 18, 2024 by Diana Ambolis
5
The CFTC-Regulated Platform to Enable Traders to Wager on Ethereums Yearly High and Other Price Scenarios Amid Resurging Interest in Cryptocurrency and Prediction Markets. Kalshi, the sole regulated prediction market platform in the United States, is seizing the opportunity to tap into the resurgence of interest in cryptocurrencies following a two-year downturn. The New York-based
Kalshi, the sole regulated prediction market platform in the United States, is seizing the opportunity to tap into the resurgence of interest in cryptocurrencies following a two-year downturn. The New York-based company plans to introduce cryptocurrency betting options for its clients, starting from Monday, as confirmed by a company representative to the sources. These options will encompass five different cryptocurrency price predictions, such as the timing of Bitcoin (BTC) reaching $100,000 and the highest price projection for Ethereums ether (ETH) in 2024. Furthermore, additional markets are scheduled to be launched on Tuesday.
Its important to note that although these bets pertain to cryptocurrencies, they will be denominated in U.S. dollars, aligning with Kalshis approach for all its markets. Previously, traders on the platform have engaged in betting on various topics, including the number of Federal Reserve rate cuts in a year, the expected snowfall in New York for March, and predictions regarding the winners of the Oscars for best screenplay.
Kalshis venture into the realm of cryptocurrency coincides with what appears to be the dawn of a bull market for digital assets. Factors such as the introduction of bitcoin exchange-traded funds have propelled prices upward, as evidenced by the nearly 50% surge in the Sources 20 Index of major digital assets this year.
Also, read- Top 10 Amazing Ways Cryptocurrency Is Transforming The Financial Services Department
This move also comes at a time of renewed interest in prediction markets, which were historically confined to niche circles. Bitwise Investments researchers have forecasted a substantial increase in stakes within prediction markets, estimating over $100 million in total wagers by 2024, as they emerge as a prominent application within the crypto space. Notably, former U.S. President Donald Trump has shown interest in crypto-based prediction markets, frequently sharing screenshots of favorable odds on platforms like Polymarket.
Advocates of prediction markets argue that they serve a broader purpose beyond mere gambling. By incentivizing participants to back their beliefs with monetary stakes, prediction markets provide valuable insights into public sentiment, potentially offering a more accurate gauge than traditional polls or pundits opinions.
Kalshis decision to introduce crypto betting follows in the footsteps of its competitor, Polymarket, which currently hosts numerous markets related to cryptocurrency outcomes. However, Kalshi, being licensed by the Commodity Futures Trading Commission (CFTC), enjoys a unique advantage as it can cater to U.S. traders seeking to speculate on crypto price movements without directly engaging in crypto transactions.
Nevertheless, Kalshis regulatory standing with the CFTC has also brought challenges. The company is currently embroiled in a legal battle with the CFTC over its ability to list markets concerning the control of each house of the U.S. Congress. In contrast, platforms like PredictIt operate under special exemptions from the CFTC, albeit with certain restrictions. CFTC Chairman Rostin Benham recently announced plans to propose new regulations for prediction markets in the coming months.
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Bitcoin Hits Record $72,000, Emboldening Crypto Industry – The New York Times
Posted: at 11:31 am
The price of Bitcoin hovered around $72,000 on Tuesday, extending a rally that has helped mint a new crop of crypto billionaires.
The cryptocurrency has climbed by more than 50 percent since the Securities and Exchange Commission approved the first Bitcoin exchange traded funds in January, bringing a wave of mainstream investors into crypto trading.
Coinbase, a Nasdaq-listed crypto exchange, has seen its stock surge alongside Bitcoin this year. The company is pushing for more favorable treatment by regulators, suing the S.E.C. and accusing it of capricious behavior. It said in its suit that the agency has shirked its responsibility to write clear rules on how the industry should operate.
Tough tactics have worked before. Grayscale Investments, a digital asset manager, sued the S.E.C. last year after the regulator denied its application for a Bitcoin exchange-traded fund. A panel of judges agreed that the agency acted arbitrarily, a ruling that paved the way for the approval in January of new Bitcoin funds.
The industry is also flexing its political muscle. Coinbase and others backed a network of well-funded political action committees that some believe played a role in felling Representative Katie Porter, Democrat of California, a crypto-skeptic who lost her race to be the partys nominee for the Senate.
The sector is now looking at new targets to boost, or topple. The crypto advocacy community is feeling pretty good right now, said Kristin Smith, chief executive of the Blockchain Association, a trade group. For the first time since Bitcoin was created 15 years ago, we have the tools in place, on the policy front and the political front.
The sector got another shot in the arm on Monday when Travis Hill, vice chair of the Federal Deposit Insurance Corporation, called on regulators to ease restrictions on how banks handle customers digital assets.
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Solana (SOL) Flips BNB to Become 4th Largest Cryptocurrency – Watcher Guru
Posted: at 11:31 am
Following what has been continued growth for the ecosystem, Solana (SOL) has flipped the Binance coin (BNB) to become the 4th largest cryptocurrency by market cap in the world. Indeed, the two assets have been swapping places, with BNB seeing its market cap fall more than 5% over the last 24 hours, according to CoinMarketCap.
The most recent milestone continues what has been an impressive few weeks for Solana. It recently reached a record DEX daily volume figure, outpacing Ethereums performance over the last 24 hours, according to DeFi Llama. Moreover, the network has seen a plethora of meme coins surge throughout March.
JUST IN: Solana flips #BNB becoming the 4th largest cryptocurrency in the world by market value.
Also Read: Solana Daily DEX Volume Surpasses Record $3.5B
Since the start of the year, the digital asset market has noted impressive performances. Bitcoin led the way, at one point reaching heights of $73,000. However, over the last several days, a host of tokens have faced corrections that have brought prices down across the board.
Yet one asset has been thriving despite the correction. Ultimately, it has catapulted it within the overall rankings, as Solana (SOL) has flipped BNB to become the 4th largest cryptocurrency in the world by market cap. The impressive performance of Solana has coincided with BNBs 5% decline in market cap over the last 24 hours.
Also Read: Solana [SOL] Post Halving Price Prediction
For Solana, the token is down less than 1% over the last day, with its market cap also facing minimal declines. Moreover, SOL is currently trading at $190 and is inching closer to surpassing $200 for the first time since 2021. Although it is far from its all-time high of $260, its recent performance has provided optimism.
On the other hand, most assets have started the weekend dropping. Among them is BNB, whose value has fallen by more than 5% over the last day. Despite reaching an all-time high on March 14th, Bitcoin has dropped as low as $67,000 today. Only time will tell how far the price corrections will take the assets.
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Predicting which Cryptocurrency will Boom in 2024 – ForexLive
Posted: at 11:31 am
Predicting which Cryptocurrency will Boom in 2024 ForexLive
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Nigeria’s Cryptocurrency Crackdown Will Have Consequences, Experts Say – Voice of America – VOA News
Posted: at 11:30 am
Nigeria's Cryptocurrency Crackdown Will Have Consequences, Experts Say Voice of America - VOA News
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