Leading investment bank JPMorgan has changed its view on the estimate of bitcoin’s price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important reasons for this change has to do with the increased volatility the asset has faced
Month: January 2022
Bitcoin (BTC) created resistance at $37,500 on Friday amid an increasing consensus that a new dive was underway. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Funding signals dip expectations Data from Cointelegraph Markets Pro and TradingView revealed $37,500 as the ceiling which capped price action overnight into Friday. BTC/USD had recovered from a trip to local
Sandbox (SAND) refused to go down despite broader negative market sentiment in the past 24 hours. Instead, the altcoin logged a breakaway recovery as traders assessed its recent high-profile partnerships as a sign that the project has strong fundamentals. SAND rose 10.23% to $3.38 at the UTC close on Jan.27, followed by another 5.42% spike to $3.57
Since 2019, Swiss financial crypto intermediaries have required proof of ownership of an external wallet’s address for Bitcoin withdrawals and deposits to their customers’ non-custodial wallets. One automated mechanism used for this is the Address Ownership Proof Protocol, or AOPP. The Trezor hardware wallet introduced AOPP signing as part of its latest January update last
On Friday, credit rating agency Fitch published a research piece about Russia’s proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia’s (CBR) position that the ban would limit its financial system’s exposure to risks, it also cautioned that such a proposal could “hold back the diffusion of technologies that could
In the crypto market volatility continues to reign supreme, and fear, uncertainty and doubt (FUD) run rampant. This makes it challenging for any project to rise above the noise and post positive price gains but there are a few projects that are showing strength during the current downturn. Kyber Network (KNC) is a multi-chain decentralized
Bitcoin (BTC) and most major altcoins are turning down from overhead resistance levels, indicating that the sentiment remains negative and traders are selling on every available opportunity. Decentrader analyst Philip Swift said that the on-chain spent profit output ratio (SOPR) metric, which aggregates the price of purchase versus price sold during a given period, indicates
Bitcoin (BTC) cracked $37,000 at the Jan. 28 Wall Street open as traders watched and waited for a resistance retest. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC evades a major resistance test Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to form after dipping to $36,175 on Bitstamp earlier in the day. As
Joe Biden’s White House is expected to issue an executive order in the coming weeks about actions the U.S. government will take regarding digital assets. A source “familiar with the White House’s plan” told Barron’s that the executive order would be issued in a national security memorandum. Biden’s memorandum would assign some government entities to
Findings stemming from a recent report published by the security-focused blockchain firm Certik indicate that the Binance smart chain ↔ Ethereum bridge called Qubit has been hacked for $80 million. Data shows on January 27, 2022, an attacker siphoned a number of tokens from an exploit on Qubit Finance’s bridge and Certik says the hack
The turn of the calendar year is a popular time to reflect on the prior one and look ahead to the next. While the sudden and remarkable explosion of non-fungible tokens (NFTs) in 2021 showcased yet another mainstream application for blockchain, the past year in crypto was largely marked by consistent growth and maturation in
Let’s be blunt: Being in a bear market sucks profoundly as a crypto trader. Most strategies that work when everything is green lead to losses. Growing the value of a portfolio takes twice as much work for half as much progress. The uncertainty over how long the market will remain down is exhausting. During these
High-profile hacks have become more prevalent throughout the cryptocurrency market, and Qubit Finance is one of the latest decentralized finance (DeFi) protocols to be exploited by hackers. Hackers were able to access and steal over $80 million from Qubit Finance which is based on Binance Smart Chain the protocol confirmed via a tweet Friday. The addresses linked
Twitter users reacted negatively to an OpenSea email sent to users who still had inactive listings on their accounts. In the email, OpenSea explained that old NFTs listings are still fulfillable, and should be canceled by the user because OpenSea is unable to cancel them on their behalf. They claimed this would “prevent any of your
Bitcoin (BTC) sellers’ losses are mounting as the BTC price downturn shows that some investors are panicking at current prices. Data from on-chain analytics firm Glassnode and trading suite Decentrader shows that in January, more and more BTC entities have been selling coins for less than they purchased them. On-chain loss selling now “consistent” While
The former Secretary of State for Health and Social Care and current U.K. Member of Parliament (MP) Matt Hancock urged the House of Commons to make England the “home” of crypto. Hancock has served as an MP for West Suffolk since 2010 but stood down from his role as the Health Secretary in mid-2021 following
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