🚀 Global Recession Will Push Bitcoin Price to Remarkable Highs In 2023
Bitcoin’s turbulent performance in 2022 hasn’t deterred big players from predicting a promising run for the asset in 2023. Bloomberg is one such platform with a bullish outlook on Bitcoin and presents notable reasons why the asset is poised to see rapid growth in the new year. “The rising potential for a severe global economic shutdown may be a top crypto performance factor in 2023. Our bias is that Bitcoin is most likely to come out ahead in most scenarios…” Bloomberg explains. 🔗 Read more
Bitcoin’s turbulent performance in 2022 hasn’t deterred big players from predicting a promising run for the asset in 2023. Bloomberg is one such platform with a bullish outlook on Bitcoin and presents notable reasons why the asset is poised to see rapid growth in the new year. “The rising potential for a severe global economic shutdown may be a top crypto performance factor in 2023. Our bias is that Bitcoin is most likely to come out ahead in most scenarios…” Bloomberg explains. 🔗 Read more
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💣 Solana, Cardano Eye Explosion To New Highs, Bitcoin Recaptures $17k As Exchange Signals Tilt Bullish
Bitcoin bulls managed to shake off December’s dust, decisively pushing past $17,000 for the first time in over three weeks. The world’s most traded cryptocurrency was trading at $17,348, up over 2.41% in the past 24 hours. Ethereum led in gains surging by over 4.55% in the same period to trade at $1,330 Monday noon. Other cryptocurrencies in the top 15 groups by market capitalization also gained steam, led by Solana and Cardano, up over 22% and 13%. Dogecoin, BNB and MATIC followed quietly, adding over 8%, 7% and 3.20% overnight. Overall, the global crypto market cap increased by 3.49% to tap $855.83B, according to data from CoinMarketCap. 🔗 Read more
Bitcoin bulls managed to shake off December’s dust, decisively pushing past $17,000 for the first time in over three weeks. The world’s most traded cryptocurrency was trading at $17,348, up over 2.41% in the past 24 hours. Ethereum led in gains surging by over 4.55% in the same period to trade at $1,330 Monday noon. Other cryptocurrencies in the top 15 groups by market capitalization also gained steam, led by Solana and Cardano, up over 22% and 13%. Dogecoin, BNB and MATIC followed quietly, adding over 8%, 7% and 3.20% overnight. Overall, the global crypto market cap increased by 3.49% to tap $855.83B, according to data from CoinMarketCap. 🔗 Read more
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📈 Bullish Signal: On-Chain Data shows Bitcoin Whales Go On 20,000 BTC Buying Spree
Bitcoin whales have now started accumulating BTC once more. This comes at a time when the crypto market is seeing struggling prices marked with low momentum. Now, with these large investors picking up the pace with their investments, there could be more movement on the horizon for bitcoin. Data from on-chain aggregator Santiment shows that large bitcoin whales holding between 1,000-10,000 BTC are accelerating their accumulation. Over the last five days, these large investors have added more than 20,000 BTC to their balances, making it a significant accumulation trend. 🔗 Read more
Bitcoin whales have now started accumulating BTC once more. This comes at a time when the crypto market is seeing struggling prices marked with low momentum. Now, with these large investors picking up the pace with their investments, there could be more movement on the horizon for bitcoin. Data from on-chain aggregator Santiment shows that large bitcoin whales holding between 1,000-10,000 BTC are accelerating their accumulation. Over the last five days, these large investors have added more than 20,000 BTC to their balances, making it a significant accumulation trend. 🔗 Read more
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🐕 Binance Stakes 4,000,000,000,000 Shiba Inu (SHIB) As Project Details Update on New Layer-2 Blockchain
According to data from whale-surveying platform WhaleAlert, Binance sent a staggering 4 trillion Shiba Inu worth about $35 million at time of writing to an unknown wallet for staking purposes. Binance’s move comes after Shibarium developers announced new updates to the Shibarium Network, SHIB’s soon-to-launch layer-2 scaling protocol, saying that Bone ShibaSwap (BONE) will be the official digital asset used to operate the blockchain and that each transaction on it will burn SHIB tokens. 🔗 Read more
According to data from whale-surveying platform WhaleAlert, Binance sent a staggering 4 trillion Shiba Inu worth about $35 million at time of writing to an unknown wallet for staking purposes. Binance’s move comes after Shibarium developers announced new updates to the Shibarium Network, SHIB’s soon-to-launch layer-2 scaling protocol, saying that Bone ShibaSwap (BONE) will be the official digital asset used to operate the blockchain and that each transaction on it will burn SHIB tokens. 🔗 Read more
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🚀 Bitcoin Looks To Retake $20,000 As Ether, XRP, Cardano Traders Bank On A Massive Bull Run
After an epic battle for control at the beginning of January, Bitcoin bulls managed to topple bears this week, with the price soaring past $18,000 on Dec 12 for the first time since mid-December. Bitcoin’s impressive ascent over the past seven days has been attributed to a return of big social dominance spikes as the asset’s plunge offers extremely discounted prices. After being kept at bay by poor market liquidity towards the end of 2022, onchain data shows that whales with 1,000 to 10,000 BTC added around 20,000 BTC to their holdings between Jan 5 and Jan 11. 🔗 Read more
After an epic battle for control at the beginning of January, Bitcoin bulls managed to topple bears this week, with the price soaring past $18,000 on Dec 12 for the first time since mid-December. Bitcoin’s impressive ascent over the past seven days has been attributed to a return of big social dominance spikes as the asset’s plunge offers extremely discounted prices. After being kept at bay by poor market liquidity towards the end of 2022, onchain data shows that whales with 1,000 to 10,000 BTC added around 20,000 BTC to their holdings between Jan 5 and Jan 11. 🔗 Read more
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💣 $600M Shorts Liquidated as Bitcoin Skyrockets to $21K
In one of its most impressive rallies in about a year, bitcoin skyrocketed by double digits, charting a two-month high above $21,000. Most alternative coins have followed suit, resulting in over $650 million in liquidations on a 24-hour scale, the majority of which were from short positions. It’s safe to say that the start of the year has been quite favorable for the cryptocurrency market. Bitcoin, for one, stood around $16,500 on January 1. After a quiet first few days, it began to add value and broke above $17,000 earlier this week. 🔗 Read more
In one of its most impressive rallies in about a year, bitcoin skyrocketed by double digits, charting a two-month high above $21,000. Most alternative coins have followed suit, resulting in over $650 million in liquidations on a 24-hour scale, the majority of which were from short positions. It’s safe to say that the start of the year has been quite favorable for the cryptocurrency market. Bitcoin, for one, stood around $16,500 on January 1. After a quiet first few days, it began to add value and broke above $17,000 earlier this week. 🔗 Read more
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💯 Solana looks to move back into top 10 as SOL gains 36% over past week
Solana (SOL) seeks to move back into the top 10 cryptocurrencies after temporarily flipping Polygon market cap on Jan. 14. Sentiment surrounding SOL has swiftly shifted from bearish — in light of developers leaving Solana — to bullish as SOL price rose by more than 36% over the last seven days. The significant price recovery temporarily pumped Solana back into the top 10 — flipping Polygon. Vitalik Buterin aided in bolstering SOL recovery momentum on Dec. 29, 2022, by posting a supportive statement on Twitter: “Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunistic money people have been washed out, the chain has a bright future.” 🔗 Read more
Solana (SOL) seeks to move back into the top 10 cryptocurrencies after temporarily flipping Polygon market cap on Jan. 14. Sentiment surrounding SOL has swiftly shifted from bearish — in light of developers leaving Solana — to bullish as SOL price rose by more than 36% over the last seven days. The significant price recovery temporarily pumped Solana back into the top 10 — flipping Polygon. Vitalik Buterin aided in bolstering SOL recovery momentum on Dec. 29, 2022, by posting a supportive statement on Twitter: “Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunistic money people have been washed out, the chain has a bright future.” 🔗 Read more
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📰 This Week In Crypto (2)
1. SBF: ‘I didn’t steal funds, and I certainly didn’t stash billions away.’
2. Gemini and Genesis charged by SEC with selling unregistered securities
3. El Salvador passes landmark crypto bill, paving way for Bitcoin-backed bonds
4. DCG owes creditors over $3B, considering $500M VC portfolio sale
5. Abu Dhabi-based Venom Foundation launches $1B fund for Web3 and blockchain
CW1 (last week)
1. SBF: ‘I didn’t steal funds, and I certainly didn’t stash billions away.’
2. Gemini and Genesis charged by SEC with selling unregistered securities
3. El Salvador passes landmark crypto bill, paving way for Bitcoin-backed bonds
4. DCG owes creditors over $3B, considering $500M VC portfolio sale
5. Abu Dhabi-based Venom Foundation launches $1B fund for Web3 and blockchain
CW1 (last week)
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📛 Suspected North Korean hackers move $63.5 million in ether stolen from Horizon bridge
The hackers transferred 41,000 ETH ($63.5 million) through over 350 different addresses in the past few days, said ZachXBT, who aggregated on-chain data and identified these suspicious transactions. On Jan. 13, hackers started moving these funds to Railgun, a privacy-focused exchange built directly on the Ethereum blockchain that acts as a mixer, making transactions hard to trace. Such protocols can often be infallible especially when there’s large amounts of funds moving through them in identifiable patterns or clusters of transactions. At least one centralized exchange has frozen a portion of these assets. Binance CEO Changpeng Zhao said his team was able to seize 124 bitcoin ($2.6 million). The details of how much was transferred to each exchange and how much the hackers were able to successfully launder assets through them remain unclear, ZachXBT noted. 🔗 Read more
The hackers transferred 41,000 ETH ($63.5 million) through over 350 different addresses in the past few days, said ZachXBT, who aggregated on-chain data and identified these suspicious transactions. On Jan. 13, hackers started moving these funds to Railgun, a privacy-focused exchange built directly on the Ethereum blockchain that acts as a mixer, making transactions hard to trace. Such protocols can often be infallible especially when there’s large amounts of funds moving through them in identifiable patterns or clusters of transactions. At least one centralized exchange has frozen a portion of these assets. Binance CEO Changpeng Zhao said his team was able to seize 124 bitcoin ($2.6 million). The details of how much was transferred to each exchange and how much the hackers were able to successfully launder assets through them remain unclear, ZachXBT noted. 🔗 Read more
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🐕 Shiba Inu (SHIB) Aims to Become Top Dog With Impending Layer-2 Launch
The creators of the Shiba Inu (SHIB) token have announced the imminent launch of their Shibarium Layer-2 solution. Shibarium will run on top of the Ethereum blockchain, which is the basis for the Shiba Inu token. Its capacity for decentralized apps and non-fungible tokens have made it one of the most utilized blockchain for smart contracts. However, this popularity has burdened the system, raising costs while lowering transaction times. Shibarium will operate as a Layer-2 solution on top of Ethereum, which will facilitate faster transactions while lowering fees. Layer-2 solutions enable “off-chain” transactions, in which they occur off of the first layer blockchain and are communicated back. Allowing the Layer-2 solution to do the majority of the work alleviates bandwidth, resulting in lower costs and processing time. 🔗 Read more
The creators of the Shiba Inu (SHIB) token have announced the imminent launch of their Shibarium Layer-2 solution. Shibarium will run on top of the Ethereum blockchain, which is the basis for the Shiba Inu token. Its capacity for decentralized apps and non-fungible tokens have made it one of the most utilized blockchain for smart contracts. However, this popularity has burdened the system, raising costs while lowering transaction times. Shibarium will operate as a Layer-2 solution on top of Ethereum, which will facilitate faster transactions while lowering fees. Layer-2 solutions enable “off-chain” transactions, in which they occur off of the first layer blockchain and are communicated back. Allowing the Layer-2 solution to do the majority of the work alleviates bandwidth, resulting in lower costs and processing time. 🔗 Read more
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⚡️ Polygon Successfully Completes ‘Performance-Boosting’ Hard Fork As MATIC Targets $2 Price High
The much-awaited hard fork aimed at boosting Polygon’s performance went live yesterday at block 38,189,056, brewing a wave of optimism among the MATIC community. Earlier, the team behind the Ethereum layer-2 scaling protocol confirmed that the hard fork would proceed as scheduled, noting that no action will be required from MATIC holders as it will be triggered automatically. The upgrade, dubbed the “Polygon Delhi Fork”, seeks to achieve two key objectives; reducing gas spikes during transactions and improving transaction finality by reducing chain reorganization (reorgs). 🔗 Read more
The much-awaited hard fork aimed at boosting Polygon’s performance went live yesterday at block 38,189,056, brewing a wave of optimism among the MATIC community. Earlier, the team behind the Ethereum layer-2 scaling protocol confirmed that the hard fork would proceed as scheduled, noting that no action will be required from MATIC holders as it will be triggered automatically. The upgrade, dubbed the “Polygon Delhi Fork”, seeks to achieve two key objectives; reducing gas spikes during transactions and improving transaction finality by reducing chain reorganization (reorgs). 🔗 Read more
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🚀 Bitcoin To Reach $161,800, According To Fibonacci Extension, Elliott Wave Theory
Bitcoin price is struggling to maintain above $20,000 per coin — a level that few expected the top cryptocurrency to trade at ever again once it passed the key resistance the first time. In a new prediction, the next target for BTCUSD might also reach a level that very few at this point would consider or expect. However, ages-old mathematics and Elliott Wave Theory could suggest the next cycle may possibly peak much sooner than many would believe — and at price of $161,800 per coin. 🔗 Read more
Bitcoin price is struggling to maintain above $20,000 per coin — a level that few expected the top cryptocurrency to trade at ever again once it passed the key resistance the first time. In a new prediction, the next target for BTCUSD might also reach a level that very few at this point would consider or expect. However, ages-old mathematics and Elliott Wave Theory could suggest the next cycle may possibly peak much sooner than many would believe — and at price of $161,800 per coin. 🔗 Read more
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📟 1inch Network enters the hardware wallet business
Decentralized exchange aggregator 1inch Network has developed a hardware wallet that aims to provide a secure device for crypto users to hold their assets. The hardware wallet will be a physical device that claims to offer a secure way to store users' private keys offline. It comes alongside 1inch's existing web-based wallet. 1inch's hardware wallet is undergoing its final stages of development and testing before being released for sale later this year, 1inch said in a statement shared with The Block. Once launched, it will compete with larger players in the hardware wallet niche, such as Ledger and Trezor. 🔗 Read more
Decentralized exchange aggregator 1inch Network has developed a hardware wallet that aims to provide a secure device for crypto users to hold their assets. The hardware wallet will be a physical device that claims to offer a secure way to store users' private keys offline. It comes alongside 1inch's existing web-based wallet. 1inch's hardware wallet is undergoing its final stages of development and testing before being released for sale later this year, 1inch said in a statement shared with The Block. Once launched, it will compete with larger players in the hardware wallet niche, such as Ledger and Trezor. 🔗 Read more
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🚀 Jim Cramer and Peter Schiff Urge to Sell Bitcoin, But BTC Whales Act Opposed
Trading around $21,000 for the past six days, Bitcoin has, as usual, generated many opinions on its future direction, and as always, these opinions were polarized. On the one hand, prominent crypto-haters like Peter Schiff and Jim Cramer have once again called on investors to say goodbye to their "magic internet money." Funnily enough, in the meantime, one has managed to poke fun at the other. Thus, Schiff, reacting to Cramer's call, said that from time to time he, too, gives the right advice, hinting at the inaccuracy of the CNBC presenter's predictions. 🔗 Read more
Trading around $21,000 for the past six days, Bitcoin has, as usual, generated many opinions on its future direction, and as always, these opinions were polarized. On the one hand, prominent crypto-haters like Peter Schiff and Jim Cramer have once again called on investors to say goodbye to their "magic internet money." Funnily enough, in the meantime, one has managed to poke fun at the other. Thus, Schiff, reacting to Cramer's call, said that from time to time he, too, gives the right advice, hinting at the inaccuracy of the CNBC presenter's predictions. 🔗 Read more
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🥇 Bitcoin up 50% from bear market low outperforming SPY, Gold
The bear market rally that perplexed much of the crypto industry continued into the weekend as Bitcoin hit $23,230 for the first time since August 2022. Bitcoin is now up 50% from its local low of $15,400. Bitcoin has moved into a leading position among global assets outperforming major asset classes. In addition, 2023 has seen growth across multiple sectors as inflation begins to cool off. Since November lows, gold and the S&P500 are up 19% and 13%, respectively. 🔗 Read more
The bear market rally that perplexed much of the crypto industry continued into the weekend as Bitcoin hit $23,230 for the first time since August 2022. Bitcoin is now up 50% from its local low of $15,400. Bitcoin has moved into a leading position among global assets outperforming major asset classes. In addition, 2023 has seen growth across multiple sectors as inflation begins to cool off. Since November lows, gold and the S&P500 are up 19% and 13%, respectively. 🔗 Read more
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📰 This Week In Crypto (CW 3)
1. Crypto lender Genesis files for Chapter 11 bankruptcy
2. Bitzlato and its founder face enforcement actions from US authorities
3. FTX CEO says he is exploring rebooting the exchange
4. Iran and Russia want to issue new stablecoin backed by gold
5. 3AC, Coinflex founders collaborating to raise $25M for new claims trading exchange
CW2 (last week)
1. Crypto lender Genesis files for Chapter 11 bankruptcy
2. Bitzlato and its founder face enforcement actions from US authorities
3. FTX CEO says he is exploring rebooting the exchange
4. Iran and Russia want to issue new stablecoin backed by gold
5. 3AC, Coinflex founders collaborating to raise $25M for new claims trading exchange
CW2 (last week)
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🗼 Someone illuminated a massive Bitcoin logo on Berlin’s iconic TV tower
The cryptocurrency space continues to grow, and proponents of the sector are using different means to drive attention to assets like Bitcoin (BTC). One of the growing methods to push Bitcoin into the public eye is using symbolic global structures to promote the asset. In particular, on January 21, the iconic Berliner Fernsehturm tower in Berlin was illuminated with the image of the Bitcoin logo as part of an advertising campaign, according to Documenting Bitcoin. 🔗 Read more
The cryptocurrency space continues to grow, and proponents of the sector are using different means to drive attention to assets like Bitcoin (BTC). One of the growing methods to push Bitcoin into the public eye is using symbolic global structures to promote the asset. In particular, on January 21, the iconic Berliner Fernsehturm tower in Berlin was illuminated with the image of the Bitcoin logo as part of an advertising campaign, according to Documenting Bitcoin. 🔗 Read more
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✅ Developers finalize first 'shadow fork' for Ethereum's Shanghai upgrade
Developers successfully launched a "shadow fork" of the Shanghai upgrade to test it on a version of the main Ethereum network. There were a few minor technical issues, with Ethereum's nodes using Geth clients after the fork, as reported by Marius Van Der Wijden, a Geth developer. But developers were able to fix the issues, and now all nodes are in agreement. They will be testing more to ensure everything works properly, Van Der Wijden added. 🔗 Read more
Developers successfully launched a "shadow fork" of the Shanghai upgrade to test it on a version of the main Ethereum network. There were a few minor technical issues, with Ethereum's nodes using Geth clients after the fork, as reported by Marius Van Der Wijden, a Geth developer. But developers were able to fix the issues, and now all nodes are in agreement. They will be testing more to ensure everything works properly, Van Der Wijden added. 🔗 Read more
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🏦 Arizona Senator Introduces Bill To Make Bitcoin Legal Tender In The State
Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin. The proposed legislation aims to recognize bitcoin as a legal form of currency in Arizona, allowing it to be used to pay for debts, taxes and other financial obligations. This would mean that all transactions that are currently done in U.S. dollars could potentially be done with bitcoin, and individuals and businesses would have the option to use bitcoin as they see fit. 🔗 Read more
Wendy Rogers (R-AZ) has introduced a set of bills aimed at making bitcoin legal tender in Arizona and allowing state agencies to accept bitcoin. The proposed legislation aims to recognize bitcoin as a legal form of currency in Arizona, allowing it to be used to pay for debts, taxes and other financial obligations. This would mean that all transactions that are currently done in U.S. dollars could potentially be done with bitcoin, and individuals and businesses would have the option to use bitcoin as they see fit. 🔗 Read more
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