Author: NBTC
American billionaire crypto investor Michael Novogratz has wittily expressed regrets for not holding the fastest-growing Solana meme coin, Dogwifhat (WIF). Novogratz made the remark at a recent conference in Manhattan as captured in a recent report by Bloomberg. The conference was about Bitcoin’s surge into mainstream investing. However, during the summit, attendees were captivated not by the behemoth cryptocurrency but by the newcomer WIF, distinguished by its logo of a dog donning a cozy knit hat. Amid discussions led by industry luminaries and top executives from financial giants like BlackRock, Novogratz, the CEO of Galaxy Digital, playfully expressed remorse over…
Riot Platforms Inc is in the green at writing after reporting a surprise profit for its first financial quarter. Revenue printed at $79.3 million in Q1 – versus $95.5 million that experts had forecast, as per the press release the bitcoin miner posted on Wednesday. On the plus side, however, analysts had called for a 21 cents loss on a per-share basis while Riot Platforms came in at a record 82 cents per share of earnings. According to Jason Les – its chief executive: [Riot] achieved a number of significant milestones [in Q1] which further solidify our growth path. Riot…
Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run. How Bitcoin Could Drop To As Low As $47,000 In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a price breakout below the $60,000 range would see Bitcoin drop to…
Ethereum price struggled to recover above $3,350 and corrected gains. ETH is consolidating near $3,200 and facing many hurdles. Ethereum started another decline and tested the $3,120 zone. The price is trading below $3,220 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,170 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,170 support. Ethereum Price Faces Uphill Task Ethereum price failed to settle above the $3,250 level and started another decline, like Bitcoin. ETH traded below the $3,200…
The Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as the Central Bank of Kenya, is set to draft rules for controlling and monitoring Virtual Asset Service Providers (VASPs). FATF Grey Listing Threat The Kenyan government recently announced the formation of a multi-agency technical working group tasked with developing a regulatory framework for the cryptocurrency industry. The group, comprising Kenyan regulators and the Central Bank of Kenya (CBK), was disclosed in a brief from Treasury Cabinet Secretary Njuguna Ndung’u. As…
Is the Bitcoin bear market already starting to rear its head? One new piece of market data suggests this could be the case. As of Monday, Bitcoin is entering what could be its fifth negative weekly close in a row. Historically, Bitcoin has never closed five consecutive weeks in the red outside of a bear market environment. A Slow But Steady Pullback Twitter user MisterCh0c took notice of the pattern on Monday, and was quick to receive backlash from more bullish followers. Some noted that the severity of the drawdown, which has persisted throughout April, is mild compared to previous…
The price of Ethereum (ETH) has fallen below the moving average lines again after the recent rise on April 28, 2024. Long-term analysis of the Ethereum price: bearish On April 28, the Ether price climbed to a high of $3,363 after breaking through the 21-day SMA. Buyers failed to sustain their bullish momentum above the 50-day SMA or the $3,400 mark. On April 28, the long candlestick wick suggests significant selling pressure at a high of $3,400. Now, the largest altcoin has fallen between $2,908 and $3,200. Ethereum is currently worth $3,136.60. If the selling pressure continues, the altcoin will…
Over the past two days, there has been a notable uptick in concern within the crypto community regarding the U.S. government’s actions toward non-custodial wallets, which facilitate the sovereign storage of crypto assets. Recent events have fueled a widespread belief that a targeted campaign against non-custodial wallets is now underway. Debate Over Crypto Wallet Regulation Heats Up Following New Government Actions Recent incidents, such as the indictment of Samourai Wallet and reports of Consensys receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC), which allegedly characterized Metamask as an “unlicensed broker-dealer,” alongside the FBI’s recent advisory warning…
In Bitcoin mining, the activity’s profitability is significantly influenced by a metric known as the ‘hash price.’ This metric has recently plummeted to unprecedented levels, causing concerns within the mining community. Bitcoin’s Latest Halving Sends Hash Price Into Freefall As Bitcoin underwent its fourth halving event on April 20, expectations were high regarding a potential increase in miner revenue. However, contrary to these expectations, the hash price witnessed a steep decline, currently valued at less than $50 per PH/s per day. The concept of hash price, developed by Luxor, a Bitcoin mining services company, helps understand the daily dollar earnings…
Justin Sun, the founder of the Tron blockchain, has taken to the X platform to share insights into his perceived investments into Ethereum. Justin Sun on restaking and staking services Justin Sun is one of the few crypto leaders whose addresses are publicly tracked. Over the past few months, a lot of whale transactions have been linked to him. Offering an insight into why the transactions occurred, he shared his take on the evolution of staking and restaking services in the crypto world. He noted that restaking and staking have recorded long-term development and have achieved substantial results. He believes…