Author: NBTC

This is a segment from the Forward Guidance newsletter. As the so-called lame duck session of Congress (the period between Election Day and the end of the Congressional term) rages on, here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress: Judicial nominations A top priority for Senate Democrats has been getting as many of President Biden’s judicial nominations approved before the party loses its majority. Democrats and Republicans have reportedly come to an agreement to consider seven district court judges after the Thanksgiving recess, with an additional six being placed on…

As Bitcoin (BTC) approaches the $70,000 resistance level, a crypto analyst has highlighted chart patterns that suggest BTC could reach a peak between $140,000 and $160,000 during this cycle. Notably, an analysis by TradingShot leverages the so-called “Angle Theory,” previously covered by Finbold. This theory, based on the logarithmic growth curve, provides a clear roadmap for BTC’s next major price milestone, projecting a peak by late 2025. Historically, Bitcoin’s price has followed well-defined cyclical patterns, supporting this forecastDespite growing optimism, prominent analysts present a more cautious outlook. Ali Martinez believes BTC is nearing the limits of its current rally, while…

It’s striking how Solana’s quick transaction times and technology have won over so many users and investors. Let’s break down the Solana supply and its influence on the market. In the ever-changing world of crypto, Solana (SOL) stands out for its impressive capabilities. With rapid transaction speeds and affordable fees, it’s becoming a favorite among users and investors alike. But what about its coin supply? How many Solana coins are there, and how do they affect the market? Let’s take a closer look. Table of Contents Introduction to Solana Circulating supply of Solana coins Maximum supply of Solana coins Solana’s…

The South Korean National Assembly postponed a plenary session originally scheduled for November 26 due to political conflicts over the proposed taxation of virtual assets. The Strategy and Finance Committee had planned the plenary session to address the virtual asset taxation issue, among others. However, disputes between the ruling People Power Party (PPP) and the opposing Democratic Party of Korea led to the session’s cancellation. The DPK wants to adopt the crypto tax as planned, while the PPP wants a two-year delay, citing the need to address the growing crypto market. Conflicts over other issues, such as inheritance tax policies,…

Bitcoin and gold are both booming in a global bull market that has seen Total World Indices soar a staggering 28% in the past 12 months. With both assets at or near all-time highs, many traders might understandably assume that they’re correlated. In reality, however, gold and bitcoin are less correlated than ever. Unlike gold, which is at all-time highs, bitcoin is actually 6% lower than its own all-time peak. Moreover, a standard correlation value of bitcoin to gold has fallen from over 50% four years ago to nearly 0 today. Indeed, if traders look at a 90-day smoothed price…

The crypto market takes a breather in the last week of November as pioneer cryptocurrency Bitcoin stalls its rally at the $100,000 neckline. The consolidation can be attributed to today’s FOMC minutes, as investors remain concerned about a positive December rate cut. Thus, the Ethereum price analysis shows a slight pullback to recuperate its bullish momentum before surpassing $4000. Ethereum Price Analysis: Is ETH’s Recovery Losing Steam? A downsloping trendline has governed the correction trend in Ethereum price analysis since mid-March 2024. Higher price rejection candles at the daily chart hint at overhead supply at the $3500 level. A potential…

On Dec. 6, 2013, Dogecoin was created, taking inspiration from the famous Doge meme: an image of a very adorable Shiba Inu dog with multi-colored comic sans text that appears as the dog’s “thought bubbles.” Although owing its genesis to a joke, Dogecoin quickly developed into a massive and passionate cryptocurrency community. Dogecoin’s success paved the way for a myriad of animal-inspired tokens. While some investors have profited immensely from these tokens, others question the sustainability and true value of meme coins. Recently, a user on the social media platform X (formerly Twitter) expressed skepticism about meme coins. “I don’t…

Morocco is set to legalize crypto assets after a ban that has been in place since 2017, Reuters reported Tuesday. The legislation is intended to provide a legal framework for crypto transactions and usage in the country. Abdellatif Jouahri, the governor of Morocco’s central bank, Bank Al Maghrib (BAM), said the bank is preparing a draft law aimed at regulating crypto assets, which is now in the adoption process. BAM is also exploring the possibility of introducing a central bank digital currency (CBDC). Jouahri said that many countries are assessing the role of CBDCs in achieving public policy objectives, particularly…

El Salvador’s misguided critics got some new ammunition this week. A recent survey revealed just 7.5% of Salvadorans use Bitcoin for transactions, and that 92% of Salvadorans do not. But while some (cue: Steve Hanke) may look at these numbers and think “Oh, well that experiment failed,” I disagree. Even putting aside the increased tourism, business activity, and international notoriety, El Salvador’s Bitcoin legal tender law has been a success. El Salvador currently has a population of around 6.3 million, meaning 475,000 (7.5%) people are now using Bitcoin for transactions. The fact that almost half a million citizens now use…

As Bitcoin (BTC) price retraced below $93k earlier today, Ethereum (ETH) price retested the crucial support level above $3,300. The large-cap altcoin, with a fully diluted valuation of about $399 billion, slipped nearly 5 percent in the last 24 hours to trade about $3,315 on Tuesday, during the early New York session. As a result of the heightened crypto volatility, more than $95 million was liquidated from Ether’s leveraged market, mostly involving long traders. Worth noting that Ethereum’s Open Interest (OI) recently surged above $20 billion for the first time since inception, signaling more volatility ahead. Rising Web3 Activities Amid…