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Из жизни альткоинов

Crypto Industry Faces New Threat: Section 702 US Surveillance Bill Passed

bitcoinist.com - 周日, 04/21/2024 - 20:30

The US Senate has voted to reauthorize Section 702 of the Foreign Intelligence Surveillance Act (FISA), a move that has sparked widespread debate and concern among civil liberties advocates and members of the crypto community.

Section 702, originally introduced as a counterterrorism measure, grants the US government broad authority to collect data from various sources, including tech giants like Google and Facebook, without the need for a warrant.

Despite opposition from civil liberties groups and some senators, the bill passed with a landslide vote of 60-34, setting the stage for its extension for an additional two years pending US President Joe Biden’s signature.

This is bad.

Crypto is not just about trading tokens, it’s part of a broader ethos of protecting freedom and privacy and keeping power in the hands of the little guy.

And these values unfortunately continue to be under attack, globally. https://t.co/iFM932IBP6

— vitalik.eth (@VitalikButerin) April 20, 2024

Crypto Industry Braces For Impact

Amidst the renewed debate over privacy and government surveillance, the crypto industry finds itself at the forefront of the conversation. With its emphasis on decentralization and anonymity, the industry is particularly vulnerable to the expanded powers granted by Section 702.

Civil liberties activists have long argued that Section 702’s broad powers are ripe for abuse and could lead to the indiscriminate collection of data on US citizens. Senator Ron Wyden has labeled it as one of history’s most dramatic expansions of government surveillance authority, sparking fears over the erosion of privacy rights.

NEWS: Wyden Statement on Reauthorization of FISA 702 Without Reforms to Warrantless Surveillance of Americans https://t.co/ywCNELcpuV

— WydenPress (@WydenPress) April 20, 2024

Regulatory Crackdowns Loom Large

The renewal of Section 702 raises the specter of increased regulatory scrutiny and compliance requirements for crypto businesses. Entities such as the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) could intensify their crackdowns on businesses, including decentralized exchanges, to ensure compliance with surveillance and data collection requirements.

Contrasting Perspectives

While some senators, like Senator Elizabeth Warren, advocate for surveillance measures targeting users within the crypto industry, others express skepticism over the potential implications for privacy and civil liberties. The revelation of improper searches by government agencies, including the FBI, further underscores the need for robust oversight and accountability measures.

Collaboration And Controversy In The Crypto Sphere

Despite the concerns surrounding government surveillance, there are also instances of collaboration between crypto companies and law enforcement agencies in combating illicit activities. Tether CEO’s disclosure of collaboration with the FBI and the Secret Service to combat terror funding highlights the complex relationship between the crypto industry and regulatory authorities.

As the debate over Section 702 continues to unfold, the crypto industry finds itself at a crossroads. The renewal of the controversial surveillance law poses significant challenges to the industry’s core principles of decentralization and privacy, while also raising questions about the role of government oversight in emerging technologies.

Featured image from Pexels, chart from TradingView 

Crypto Pundit Says Bitcoin Halving Is A ‘Buy The News’ Event

bitcoinist.com - 周日, 04/21/2024 - 18:00

The fourth Bitcoin halving has now been completed and crypto investors look forward to its outcome in terms of the price of Bitcoin and other cryptocurrencies. As the biggest crypto asset, the price of most altcoins are largely correlated with Bitcoin’s, making the halving event very important to all investors. 

According to Matt Hougan, CIO of crypto index fund provider Bitwise Asset Management, the just concluded Bitcoin halving presents a buying opportunity for crypto investors. 

Is Bitcoin Halving A ‘Buy The News’ Opportunity?

Bitcoin halving events are highly anticipated in the crypto world. While speaking in an interview with CNBC Squawk Box, Hougan noted that Bitcoin prices will rally substantially after the halving, making it a “buy the news” event, especially when looking at the long term.

Hougan went ahead to analyze Bitcoin’s price action in the months after the halving, noting how the asset’s price rallied substantially in the year after the last three halvings. Hougan credits this price increase to the supply crunch in the months after the halvings. 

“The amount of new supply of Bitcoin coming into the market is being cut in half. We’re removing $11 billion of annual supply. I think big picture, that has to be good for price and that’s what I would expect over the next year,” Hougan said. 

When asked about the potential of Bitcoin being used as a store of value amidst geopolitical tensions, particularly in the Middle East, Hougan noted the crypto’s ability is best seen in the big picture. 

“If you look big picture, its done a great job of protecting us against inflation post-COVID. I think eventually it will be a good hedge against geopolitical disruptions,” Hougan said.

What’s Next For Bitcoin?

The recently concluded Bitcoin halving saw the rewards given to miners slashed from 6.25 BTC to 3.125 BTC. The idea and design behind each halving are pretty simple. With fewer new bitcoins entering circulation, existing bitcoins could become more valuable. In each of the three previous halvings, the price of bitcoin fluctuated in the first few months, but it ended up being much higher one year later

For example, the price of Bitcoin lingered for at least nine months after the 2020 halving before finally going on a 458% price surge. If history were to repeat itself, a similar 450% surge would put the price of Bitcoin around $345,000 in the first quarter of 2025.

At the time of writing, Bitcoin is trading at $64,870. Bitcoin is currently up by over 130% in the yearly timeframe leading up to the just concluded halving. A similar 130% surge in a yearly timeframe after the halving puts the price of Bitcoin around $150,000 by mid-2025.

Interestingly, this price range sits better with Anthony Scaramucci, founder of SkyBridge Capital, who predicted the BTC price would reach at least $170,000 by the end of the current market cycle.

Featured image from Pixabay, chart from TradingView

Налоговая служба США представила новую форму отчетности о доходах с криптовалют

bits.media/ - 周日, 04/21/2024 - 17:43
Налоговая служба США (IRS) опубликовала новый черновик бланка налоговой декларации формы 1099-DA для отчетности о доходах, полученных при совершении брокерских транзакций с цифровыми активами.

Wealth Whisperers Go Crypto: Bitcoin ETFs Set For Big Boost From Unexpected Source

bitcoinist.com - 周日, 04/21/2024 - 15:30

As the financial world witnesses a seismic shift in the landscape of cryptocurrency investment, institutional players are making bold moves into the realm of Bitcoin Exchange-Traded Funds (ETFs).

Bitwise CEO Hunter Horsley’s recent proclamation has sent ripples through the industry, forecasting a staggering surge in Bitcoin ETF holdings by wealth management firms by the end of 2024. This prediction underscores a broader trend of growing institutional interest and confidence in Bitcoin, signaling a new era for digital asset adoption.

Bitcoin ETFs Gain Momentum Amidst Changing Market Dynamics

The emergence of Bitcoin ETFs as a preferred investment vehicle for institutional investors is highlighted by the rapid ascent of BlackRock’s iShares Bitcoin Trust (IBIT), which stands on the cusp of surpassing Grayscale’s Bitcoin Trust (GBTC) as the largest Bitcoin fund globally.

With IBIT’s assets swelling to approximately $17.3 billion, just $2 billion shy of GBTC’s, the stage is set for a potential changing of the guard within the market. This shift in dominance reflects a broader trend of institutional reallocation, as evidenced by significant outflows from Grayscale’s GBTC in recent months.

By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF.

They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only.

Going to be an amazing new constituent in the…

— Hunter Horsley (@HHorsley) April 20, 2024

While Grayscale’s early-mover advantage in the Bitcoin ETF market has begun to wane, other institutional heavyweights such as Fidelity and BlackRock are stepping into the fray with notable net inflows into their respective Bitcoin ETFs. Fidelity and BlackRock Bitcoin ETFs witnessed substantial net inflows of $37.3 million and $18.7 million, respectively, in a single week, signaling a shift in investor sentiment and liquidity dynamics.

Bitcoin ETFs: A Stepping Stone For Institutional Adoption

Behind the scenes, registered investment advisers (RIAs) and multifamily offices are quietly embracing Bitcoin ETFs, marking a significant milestone in the broader acceptance of cryptocurrencies within traditional financial institutions. Bitwise CEO Hunter Horsley describes this phenomenon as “stealthy but material,” indicating a growing recognition of Bitcoin’s potential as a legitimate asset class.

In response to market demand and the impending Bitcoin halving, institutional behemoths are conducting extensive studies and incorporating Bitcoin into their investment portfolios. This shift represents a fundamental reevaluation of traditional investment strategies, as institutions seek to diversify their holdings and capitalize on the potential upside of Bitcoin’s meteoric rise.

As the cryptocurrency market continues to evolve, Bitcoin ETFs are poised to play a pivotal role in driving institutional adoption and reshaping the financial landscape.

With BlackRock’s IBIT on the verge of eclipsing Grayscale’s GBTC and institutional investors flocking to Bitcoin ETFs in record numbers, the stage is set for a new era of digital asset investment.

As Bitwise CEO Hunter Horsley aptly puts it:

“By the end of 2024, people are going to be stunned by how many wealth management firms own a Bitcoin ETF.”

Featured image from Pexels, chart from TradingView

Deutsche Bank: Цена биткоина после халвинга изменится не сразу

bits.media/ - 周日, 04/21/2024 - 15:12
Эксперты крупнейшего по числу сотрудников и сумме активов финансового конгломерата Германии Deutsche Bank заявили, что после халвинга, состоявшегося 20 апреля, на рынке следует ожидать доминирование флэта.

Nigerian Court Adjourns Binance Tax Evasion Trial To May 17

bitcoinist.com - 周日, 04/21/2024 - 13:00

A Nigerian court has rescheduled the hearing of a tax evasion lawsuit against Binance and some of its executives to May 17. This adjournment represents the latest development in the ongoing regulatory saga between various agencies of the Nigerian government and the Malta-based cryptocurrency exchange.

Related Reading: Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec To Kenya – Report

Tax Case Adjourned Over Legal Standstill

On March 22, the Nigerian Federal Inland Revenue Service (FIRS) charged Binance and two of its executives, namely Nadeen Ahjarwalla, head of financial crime compliance, and Tigran Gambaryan, regional manager for Africa, with four counts of tax evasion.

These charges included “non-payment of Value-Added Tax, non-payment of Company Income Tax, failure to tax returns and complicity in aiding customers to evade taxes through its platform”, which the FIRS believed occurred from the failure of Binance to initially undergo a registration process before offering its services to Nigerians. 

According to local news media BusinessDay, the case was presented for hearing on April 19, with only Tigran Gimbaryan present in court as Nadeen Ahjarwhalla has long fled the West African nation. Gimbaryan is reported to have refused to take a plea as the FIRS had failed to serve Binance any tax evasion charges.

However, the prosecution argued that the US citizen should defend the interests of himself and the crypto exchange against the charges being presented. In response, Gambaryan’s lawyer stated that since all parties were jointly charged, Binance, being the primary defendant, must be served by the IRS before his client could plead his case in accordance with the Nigerian constitution. 

Following the legal impasse, Justice Emeka Nwite of the Federal High Court Abuja ruled the case be adjourned to May 17, when he will provide a definite judgment. This represents the second time the FIRS’s tax evasion case against Binance has been adjourned following an initial postponement on April 4 due to the failure of the Nigerian tax regulator to serve Gambaryan ahead of a stipulated court trial.

Binance Troubles In Nigeria Continue

The Binance exchange is currently stuck in a hostile regulatory situation with the Nigerian government. Aside from tax evasion charges, the Nigerian Economic and Financial Crimes Commission (EFCC) has also accused the prominent crypto exchange of laundering over $35 million. 

The Nigerian government has increased regulatory scrutiny of Binance after accusing the exchange of playing a major role in the massive devaluation of the Nigerian naira via speculation and rate fixing. These allegations were followed by the arrest of Gimbaryan and Ahjarwhalla, who had visited the West African nation on February 26 after reports of the government banning certain access to Binance and other crypto exchanges.

Binance has disabled all naira services on its platform and appears committed to resolving all legal issues around the detention of its employees after the exchange’s CEO, Richard Teng, recently confirmed a willingness to cooperate with the Nigerian government. 

BTC trading at $64,927.40 on that daily chart | Source: BTCUSDT chart on Tradingview.com

 Featured image from The Flag Shop, chart from Tradingview

Grayscale Proposes 0.15% Fee For Its Bitcoin Mini Trust Fund: Details

bitcoinist.com - 周日, 04/21/2024 - 10:50

Asset management firm Grayscale has disclosed new details about its new Bitcoin Mini Trust fund, a “spin-off” of the GBTC exchange-traded fund (ETF). The new fund, which was first announced in March, is expected to operate independently and offer a cost-effective investment option to GBTC shareholders.

Grayscale Offers Industry-Low Fee With New Fund

According to a recent filing with the United States Securities and Exchange Commission (SEC), asset manager Grayscale plans to set the fees for its new Bitcoin Mini Trust at one-tenth of the current 1.5% fee for GBTC. 

The 0.15% fee would make the fund the cheapest amongst the 11 Bitcoin ETFs approved in early January, followed by Franklin Templeton’s fund at 0.19%.

The filing revealed that Grayscale intends to disburse 63,620 bitcoins, or 10% of the Bitcoin held by GBTC at the beginning of the year (equivalent to roughly $4 billion), towards the Mini Trust’s initial distribution. 

This $4 billion distribution would make the fund the fourth-largest Bitcoin spot ETF by asset under management (AUM), behind BlackRock’s IBIT, Fidelity FBTC, and Grayscale’s GBTC itself.

As earlier reported by Bitcoinist, existing GBTC shareholders will receive stock in Grayscale Mini Trust. The asset manager plans to list the fund on the New York Stock Exchange Arca under the ticker “BTC” and expects the product to begin trading on the exchange immediately after the initial distribution.

The Numbers Are Still Hypothetical: Bloomberg Analyst

Bloomberg ETF analyst Eric Balchunas took to the X platform to share his opinion on the latest update on Grayscale’s new Mini Trust. “This is pro-forma financials and, as such, hypothetical,” Balchunas wrote in a post on X.

For context, pro forma financials refer to a collection of financial statements that use hypothetical assumptions to support investment proposals. This means that there might still be some changes before the fund starts trading.

UPDATE: so this is pro-forma financials and as such hypothetical. It doesn’t nec mean $BTC will be 15bps. But the good news is they had to pick a number for this and knew ppl would be watching and they decided on 15bps. Anyway, do with that what you will. Updates as I get them!…

— Eric Balchunas (@EricBalchunas) April 20, 2024

Balchunas noted in his post:

It doesn’t nec mean BTC will be 15bps. But the good news is they had to pick a number for this and knew [people] would be watching, and they decided on 15bps.

This development comes while investors continue to withdraw funds from the Grayscale Bitcoin Trust since its debut at the beginning of the year. According to SoSo Value, GBTC recorded a net outflow of $45.82 million in the past week.

Дэвид ЛаВалле: Биржевые фонды на базе альткоинов за два-три года станут обыденностью

bits.media/ - 周日, 04/21/2024 - 10:23
По мнению представителя инвестиционной компании Grayscale, биржевые фонды на базе цифровых активов, кроме биткоина и эфира, появятся не в 2024 году, но в среднесрочной перспективе.

Взломавший протокол Mango Markets хакер признан виновным в мошенничестве

bits.media/ - 周日, 04/21/2024 - 09:46
Присяжные суда Манхэттена признали взломавшего протокол Mango Markets жителя Пуэрто-Рико виновным в мошенничестве. 29 июля окружной суд Нью-Йорка должен вынести обвиняемому окончательный приговор.

Биржа Binance запустила платформу для эйрдропов Megadrop

bits.media/ - 周日, 04/21/2024 - 09:14
Крупнейшая криптовалютная биржа мира Binance объявила о запуске платформы Megadrop. Площадка должна облегчить запуск эйрдропов и проведение Web3-квестов, обещая клиентам монеты на ранних этапах запуска проектов и другие награды.

ФБР: Жертвами биткоин-вымогателя Akira стали уже более 250 компаний

bits.media/ - 周日, 04/21/2024 - 08:50
Представители Федерального бюро расследований США сообщили о быстром распространении программы-вымогателя под названием Akira. Жертвами программы, которая требует выкупа в биткоинах, стали уже более 250 компаний по всему миру.

Coinbase: После халвинга на цену биткоина будут давить нерыночные факторы

bits.media/ - 周日, 04/21/2024 - 08:27
Аналитики крупнейшей американской криптовалютной биржи Coinbase рассказали, от чего, по их мнению, будет зависеть развитие рынка криптовалют. Большое влияние окажет политическая обстановка в мире и внутри самих США.

Coin Center Opposes ‘Unconstitutional’ Stablecoin Bill – Details

bitcoinist.com - 周日, 04/21/2024 - 06:00

Pro-crypto organization Coin Center is pushing against a new legislative bill targeted at regulating stablecoin use and operations. In a public statement released on Friday, the US-based advocacy group heavily criticized the Lummis-Gillibrand Payment Stablecoin Act, describing it as “unconstitutional” and anti-innovation.

Related Reading: ‘Ethereum Wins Big’ With New US Stablecoin Draft Bill: Expert Latest Stablecoin Bill Is Bad Policy: Coin Center

On Wednesday, senators Kirsten Gillibrand and Cynthia Lummis introduced a bill on stablecoin payments. This bipartisan proposed legislation aims to protect investors’ interest as the popularity and adoption of stablecoins as a “comfortable” substitute to the US dollar have risen over the past few years. 

The Lummis-Gillibrand Payment Stablecoin Act includes many crucial provisions, including strict compliance of stablecoin operators with existing US anti-money laundering and sanction regulations. Furthermore, this bill also proposes the creation of a federal and state regulatory framework that maintains the seamless existence of the dual banking system.

Importantly, the bipartisan bill requires all stablecoin issuers to maintain one-to-one reserves, effectively outlawing the use of algorithmic stablecoins, i.e., stablecoins, which depend on a computer program to adjust their supply in response to changes in demand. This particular provision has drawn many reactions from the digital asset community, with many viewing such laws as anti-crypto.

In particular, the Coin Center described this proposed regulation as a bad policy. The crypto advocacy group stated that prohibiting the use of algorithmic stablecoins can be interpreted as a ban on publishing code which would be unconstitutional in accordance with the provisions of the First Amendment Rights. 

However, Coin Center also acknowledged the concern over algorithmic stablecoins following the crash of the Terra-Luna ecosystem in 2022. They propose that the US Senate House mandates issuers of these tokens to register with the SEC rather than implementing a total ban on algorithmic stablecoins which they view as “anti-innovation.”

The US pro-crypto group also highlights another solution in the “Clarity for Payment Stablecoins Act,” introduced in 2021, which seeks to compel all newly launched algorithmic stablecoins to undergo a two-year moratorium. While Coin Center does not agree with the proposed moratorium, they believe such legislation is still reasonable as it does not propose a total ban or threaten the “free speech” of developers.

Stablecoin Supply Rises By 22% In 2024

In other news, the global stablecoins market has continued to expand all through 2024. According to data from DeFiLlama, the total stablecoins market cap has gained by 21.95 % from $139.342 billion on January 1, 2024, to its current value of $158.957 billion.

Of these values, Tether USD (USDT) expresses an outright dominance of 69.10%, with its market cap valued at $109.84 billion. The only other stablecoin with a somewhat significant market share (20.90%) is the USD Coin (USDC) with a market cap of $33.223 billion. Other notable stablecoins include Dai (DAI), First Digital USD (FUSD), and Athena USDe (USDe).

Crypto Analyst Predicts Further Upside For Shiba Inu, Here’s The Target

bitcoinist.com - 周日, 04/21/2024 - 04:00

Shiba Inu is currently on a consolidation path after a strong upswing earlier in the month. Specifically, SHIB is currently down by 13% in the past seven days, although still up by 210% in a wider 30-day time frame. According to crypto analyst Javon Marks, Shiba Inu is on its way to another major breakout after the current consolidation. The analyst sees the meme coin surging to $0.000081 and then a further 90% increase to hit a new all-time high.

Continued Uptrend For Shiba Inu

Shiba Inu has seen massive gains recently, rallying 280% from $0.00001178 on the last day of February to $0.00004456 on March 5. This surge allowed the dog meme coin to outperform most cryptocurrencies amidst a wider bull market, taking a lot of traders by surprise. This price surge was accompanied by an increase in trading volume. Kaiko data reveals that Shiba Inu saw the largest volume among meme coins at $31 billion in just one week.

However, according to social media posts, analyst Javon Marks had predicted a surge as far back as October 2023, with a SHIB price target of $0.000081. In a recent update to his prediction, Javon noted that the price is set for even more growth, with the breakout target of $0.000081 still valid. 

Since the attached and more original analysis, prices of $SHIB has shown MASSIVE STRENGTH, climbing approximately +531%, but these prices can be set for even more growth!

With the breakout target still at $0.000081, prices of Shiba Inu could have another +147% move coming.

A… https://t.co/ZjA5onlnBO pic.twitter.com/YuUllePvbl

— JAVONMARKS (@JavonTM1) March 13, 2024

It’s interesting to note that SHIB has done approximately a 531% increase since Javon’s prediction in October. Furthermore, according to his analysis, a break and hold above $0.000081 could set the stage for another 90% upside to $0.0001553, a new all-time high for the meme coin.

Current State Of Shiba Inu

Shiba Inu has reversed since reaching $0.00004456 and has majorly traded between $0.0000365 and $0.0000295 in the past week. On-chain data points to a surge in trading volume during this time period. Particularly, IntoTheBlock’s large trader flow metric, which measures transactions greater than $100,000, has surged, reaching $578.11 million (17.62 trillion SHIB) on March 11th. The last 24 hours saw 9.94 trillion SHIB ($300.55 million) in large transactions. 

While this surge in trading volume could mean an increased accumulation from large traders, it could also mean a selloff, as indicated by the recent drop in price. However, the crypto looks poised to resume price gains, and on-chain signals from ITB point to a bullish sentiment. 

Lola, a SHIB enthusiast, listed on X, key factors that could contribute to the meme coin’s growth in the near future. These factors range from SHIB’s decentralization, global accessibility and adoption, its strong community, and an efficient deflationary burn mechanism. Notably, over 25.6 million SHIB tokens have been burnt in the past 24 hours. 

Bitcoin Rebounds After Dropping To $59,000 Level — Path To New Peak?

bitcoinist.com - 周日, 04/21/2024 - 01:30

Bitcoin has been endeavoring to shift its trajectory from a downturn to an upswing. However, despite its efforts, the coin has remained on a downward trend for several days following its inability to surpass its previous all-time high of $73,833.

Will Bitcoin Continue Upward After This Rejection?

At the time of writing, the price of BTC was trading around $63,846 which was about 27% down from its all-time high and was up by 0.06% in the last 24 hours. Although the price is trading below the 100 Simple Moving Average (SMA) on the 4-hour chart, on the daily chart it is still trading above the 100 SMA

Looking at the support and resistance lines in the below image, it can be seen that the price has tried to break the support level of $59,579 twice and has failed. The first time Bitcoin reached this level, it pushed the price upward to create a new all-time high. Thus, now that it has hit this level again, it might push BTC even further.

The circles in the image indicate the two points:

Also, with the formation of the Relative Strength Index (RSI) in the image, the indicator suggests an upward movement as the RSI signal line is seen trending slightly above the 50% level. This also suggests that buyers are still very active in the market and against the sellers.

The MACD indicator from the 4-hour chart also suggests that BTC might move upward as the MACD histograms are trending above the zero line. Both the MACD line and the Signal line have crossed and are about to cross above the MACD zero line, indicating a bullish trend, as seen in the below image.

Possible Trend That Could Play Out

In other words, since the price of Bitcoin is trying the move upward, if it manages to break above the minor resistance level of $67,895.24, it might begin to move toward its major resistance level of $73,833.34. Furthermore, should prices surpass this level, it might even move further to create a new all-time high.

On the contrary, if Bitcoin fails to move above its previous highs, it might move downward toward its previous support level of $59,579.72. If it breaks below the zone, the price might encounter a deeper correction to create a new low.

Bitcoin Halving Stimulates Dialogue: Bullish Optimism Vs. Skeptical Caution

bitcoinist.com - 周六, 04/20/2024 - 23:00

Following the much-anticipated Bitcoin halving, investors and analysts are now divided over its potential impact on the cryptocurrency market. With historical data serving as a guide, experts offer contrasting viewpoints on whether the event will trigger a surge in Bitcoin prices or lead to a sell-off.

Bullish Outlook: Historical Trends, Institutional Interest Fuel Optimism

Matt Hougan, Chief Investment Officer at Bitwise, stands firmly in the bullish camp, citing historical patterns as evidence for a post-halving price rally. According to him, past halving events have been followed by substantial increases in Bitcoin prices over the long term.

Hougan points to the reduction in new supply entering the market as a result of the halving, coupled with growing demand from institutional investors through spot Bitcoin ETFs, as key drivers for potential price appreciation.

Skeptical Caution: Is The Halving Already Priced In?

However, not everyone shares Hougan’s optimism. Dan Dolev, Managing Director at Mizuho Securities, adopts a more skeptical stance, suggesting that the halving event may already be fully priced into the market.

He warns of a potential “sell-the-news” scenario, where investors who had previously anticipated the event may rush to sell once it occurs. Dolev points to the heightened publicity surrounding this year’s halving compared to previous cycles, indicating that market expectations may have already been factored into current prices.

Institutional Interest And Market Maturation

Jeff Hancock, CEO of Coinpass, offers a nuanced perspective, highlighting the growing institutional interest in Bitcoin as a real asset. He believes that Bitcoin has transitioned from being viewed as a speculative asset to a legitimate investment opportunity, particularly in light of high inflation and interest rates in traditional markets.

Hancock points to the success of spot Bitcoin ETFs, which have amassed over $60 billion in assets in a relatively short period, as evidence of institutional demand for cryptocurrency exposure.

Symbolic Significance Of The Fourth Halving

Thomas Perfumo, Head of Strategy at Kraken, emphasizes the symbolic nature of the halving. He notes that this event marks a significant milestone in Bitcoin’s history, with over 90% of the total supply already mined.

Perfumo highlights the implication of less than 1% inflation in the circulating supply going forward, underscoring the scarcity and value proposition of Bitcoin as a digital asset.

As the Bitcoin halving drew to a close, conflicting perspectives abound regarding its impact on the cryptocurrency market. While some experts remain bullish, anticipating a price surge driven by supply scarcity and institutional demand, others urge caution, warning of potential market dynamics already priced into current valuations.

Featured image from Pexels, chart from TradingView

Shiba Inu Scam Watcher Sends Critical Warning To SHIB Community

bitcoinist.com - 周六, 04/20/2024 - 21:00

The Shiba Inu community is being targeted by another string of scam attacks aimed at profiting from unsuspecting members. As a result, the Shibaarmy Scam Alert, an X (formerly Twitter) social media handle dedicated to exposing scams, has issued a crucial warning to the entire SHIB community. 

SHIB Army Cautioned Against Phony BONE Airdrop

The Shiba Inu community is presently on high alert after the Shibarmy Scam Alert uncovered a series of phishing attacks targeting the community. On Friday, April 19, the Scam tracker issued a stern warning to community members against falling for these phishing emails. 

Reports from Shibarmy Scam Alert have indicated that these phishing emails promise fake BONE airdrops, luring unsuspecting SHIB holders to click a suspicious link with the promise of winning the airdrops. 

#Shibarmy, if you receive an email like this one, don’t fall for it, it’s NOT official, and it’s a scam!

There are no $BONE airdrops!

Delete the email message, don’t click on the link/picture! It sends the victims to a fake website intended to steal the wallets. Stay safe! pic.twitter.com/U8ezGpXrQd

— Shibarmy Scam Alerts (@susbarium) April 19, 2024

However, these scam emails, designed to mimic the official-looking branding, logo and tone of SHIB communications, aim to trick SHIB holders into disclosing their personal and financial information. This leaves investors vulnerable to losing their digital assets and experiencing financial setbacks. 

Typically, phishing scams occur when an attacker sends deceptive emails with links to malicious websites, aiming to steal sensitive information such as usernames, passwords, wallet address information, credit card numbers and bank account information. These scams are socially engineered to deceive crypto investors through different forms of communication. 

To safeguard the interests of Shiba Inu holders, Shibarmy Scam Alert has warned community members to never click the link or picture in these phishing emails. The scam tracker has affirmed that “there are no BONE airdrops,” and urges SHIB token holders to stay vigilant and refrain from falling prey to such scams. 

Crypto Communities See Surge In Scam Activities 

Unfortunately, phishing emails are not the only form of scam attacks used to target unsuspecting community members. Across the diverse communities within the cryptocurrency space, there has been a notable increase in scam activities, many coming in the form of phishing attacks, impersonation, fake company alerts or advertisements, giveaway scams and other deceptive tactics

Shiba Inu’s large and passionate community of investors and supporters makes it a prime target for these malicious scammers aiming to take advantage of innocent crypto investors and exploit their enthusiasm for illicit gains. 

Since the beginning of the year, the Shibarmy Scam Alert has uncovered more than 50 scam attempts targeting the community. This underscores the need for SHIB investors to remain Informed of any suspicious activities within the community. 

It also emphasizes the importance of exerting caution when interacting with unsolicited messages on social media from unidentified individuals. As Shibarmy Scam Alert continues to monitor the activities within the community closely, staying vigilant and reporting any suspicious activities will be essential for investors to safely and confidently navigate the market. 

Featured image from Pixabay, chart from TradingView

Chainlink Co-Founder Says More Crypto ETFs To Come – Ethereum And Dogecoin Next?

bitcoinist.com - 周六, 04/20/2024 - 18:30

Chainlink co-founder Sergey Nazarov has expressed optimism about the future of the crypto industry. One way he expects the space to progress is through the introduction of more crypto exchange-traded funds (ETFs), which he believes will happen soon.  

More Crypto ETFs To Launch Soon

In an interview with Cointelegraph at the Token2049 event in Dubai, Nazarov mentioned that more ETFs related to other coins besides Bitcoin and Ethereum would launch soon enough. According to him, this could happen as early as this year, with these crypto ETFs likely to keep growing over the years. 

Ripple’s CEO Brad Garlinghouse also expressed a similar sentiment, stating that he “thinks there will be other ETFs.” However, unlike Nazarov, he didn’t sound optimistic about that happening this year. Garlinghouse added that launching other crypto ETFs could take “a little bit of time” because of the Securities and Exchange Commission’s (SEC) reservations about crypto assets. 

Ark Invest’s CEO Cathie Wood shares an entirely different opinion, as she once predicted that there would only likely be Bitcoin and Ethereum Spot ETFs in the US. Back then, she mentioned that it would be surprising to see “anything but Bitcoin and Ether being approved by the SEC,” possibly because those are the only crypto tokens the Commission recognizes.

Meanwhile, industry experts like Bloomberg’s analyst James Seyffart have hinted at what needs to happen if other crypto tokens, besides Bitcoin and Ethereum, are to have their ETFs. Specifically, while discussing a potential XRP ETF, he mentioned that the crypto token must first be traded on a regulated market like the Chicago Mercantile Exchange (CME).

How Other Crypto ETFs Could Grow The Industry 

The Spot Bitcoin ETFs are a clear example of the impact these crypto ETFs could have on the broader crypto market and the tokens linked to it in particular. These ETFs can help inject new money into the ecosystem of these crypto tokens, leading to a massive increase in liquidity and possibly raising crypto prices. 

While explaining how XRP could rise to $1,000, crypto analyst BarriC alluded to how institutional demand for the crypto token, through an XRP ETF, could cause its price to reach such heights. 

Furthermore, as Hannah Phung, a lead analyst at on-chain analytics platform SpotOnChain, suggested, crypto ETFs could make the crypto market more mature. This is because more institutional investors, who are considered more long-term investors, will enter the space and help reduce market volatility. 

In the meantime, the crypto community will wait to see whether or not the SEC approves the pending Spot Ethereum ETF applications as that could determine the fate of other potential crypto ETFs. 

Featured image from Pexels, chart from TradingView

Bullish Cardano Metric Signals Upcoming 75% Rally Toward $1

bitcoinist.com - 周六, 04/20/2024 - 16:00

Crypto analyst Ali Martinez has drawn the Cardano (ADA) community’s attention to a crucial indicator that could be bullish for Cardano’s price. Based on his analysis, the crypto token could experience a rally that would cause it to rise to as high as $1. 

Cardano Could Soon Experience A 75% Price Rally

Martinez mentioned in an X (formerly Twitter) post that Cardano could see “another impressive rebound” with its Market Value to Realized Value (MVRV) dipping below -22%. He had noted that ADA’s price rose by over 75% the last time the MVRV ratio dipped below -22%. From Cardano’s current price level, a rally of over 75% will take it above the $1 price mark.  

Crypto analyst Trend Rider also recently raised the possibility of Cardano rising to $1. He mentioned in an X post that the crypto token could rise to this price level in 1 to 3 months if it could defend the support level at $0.44. In a previous X post, he also mentioned that Cardano’s bull run could be back on if its price gets back above $0.54. 

Interestingly, Trend Rider has previously predicted that Cardano could rise to as high as $3 if history were to repeat itself. He alluded to October 2020, when Cardano’s price dipped to as low as $0.10 and skyrocketed to $3 afterward. He suggested this could happen again as the crypto token is on the brink of its “ultimate support test.”

Cardano establishing a support level looks to be what is holding back the crypto token from making that parabolic price surge. Crypto analyst Alan Santana also hinted at this when he mentioned that ADA could drop to as low as $0.34 to establish support before the crypto token becomes bullish again.  

Not Yet Cardano Season

Dan Gambardello, the founder of Crypto Capital Venture, mentioned that Cardano’s price is “frustrating” because it is not yet “Cardano Season.” He is confident that the crypto token will have its season soon enough and will “really do well.” However, ADA holders might have to wait a while, as the analyst warned that Cardano’s power move might not be until months later. 

In the meantime, Gambardello revealed that Cardano could fall into the “lower 30s,” with crypto prices still dipping amid fears of a war breaking out between Israel and Iran. The analyst also offered some optimism, though, as he predicted that ADA, alongside other crypto tokens, could “bounce like crazy” once this period of fear is over. 

At the time of writing, Cardano is trading at around $0.49, up over 9% in the last 24 hours according to data from CoinMarketCap. 

Featured image from Pexels, chart from TradingView

Снижаем награду и повышаем стоимость: как халвинг скажется на курсе биткоина

bits.media/ - 周六, 04/20/2024 - 15:07
Задолго до 20 апреля и уменьшения награды за добытый блок в сети Биткоина начали плодиться прогнозы о том, как халвинг скажется на цене исторически первой криптовалюты, что будет дальше с майнингом, что ждет индустрию в целом. Остановимся немного подробнее на оценках и сценариях.

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