Author: NBTC

The following is a guest post by Rajagopal Menon, the Vice President of WazirX.Come the bull market, cometh the models to predict the price of Bitcoin. In the last bull market in 2021, the Stock-to-Flow (S2F) model was the flavour of the season. This model, created by Plan B, assessed asset scarcity by comparing stock to annual production. Applied to Bitcoin, the S2F model emphasised its ‘digital gold’ potential and provided scarcity-based, long-term price forecasts. However, the S2F model faded in the crypto winter in 2022. But fear not, in the current bull run, there’s a new model in town…

Critical dates are approaching for Ethereum, which received approval from the SEC after Bitcoin. Because market analysts expect ETH ETFs to be opened for trading on July 4. In the face of this expectation, many names are rising in the ETH price, while Steno Research analysts speaking to Coindesk announced their predictions. Accordingly, analysts stated that they foresee a net inflow of $15-20 billion into spot Ethereum ETFs in the first 12 months and predicted at least $6,500 for the ETH price. Stating that they expect the Ethereum price to reach at least $6,500 by the end of this year…

Over the last 24 hours, UNI, the native token of the Uniswap DEX, suffered a significant decline amid the Bitcoin-led crypto market rally. During yesterday’s brief surge, UNI reached a daily high of $11.26. However, UNI dropped to $10.63 earlier today, losing approximately 6% of its value. Lookonchain, the crypto analytics firm, suggests that large-scale whale activity may have influenced Uniswap’s price crash. Lookonchain revealed that a major UNI investor sold 606,088 tokens, realizing a profit of $7.08 million. According to the firm, this substantial sale triggered UNI’s price drop earlier today. In the past 2 hours, this whale sold…

Cassie Craddock, managing director for the U.K. and Europe at San Francisco-based enterprise crypto company, stated that the U.S. continues to be “a big challenge” for the company during a recent interview. It is worth noting that Ripple is still engaged in a bitter long-lasting legal battle with the U.S. Securities and Exchange Commission. Brad Garlinghouse, the company’s chief executive, has repeatedly bemoaned the regulatory uncertainty in the U.S., as well as the hostility of the SEC toward the industry. Excitement surrounding MiCA At the same time, Craddock says that Ripple is “really excited” about the Markets in Crypto-Asset Regulation…

Presidents like Bukele and Milei demonstrate how pro-bitcoin policies can effectively improve economies. Venezuela could become a Bitcoin mining hub under a new government according to Di Bartolomeo. Mauricio Di Bartolomeo, co-founder of Ledn, emphasizes the growing impact of cryptocurrencies on upcoming elections in Latin America. He underscored citizens’ preference for candidates endorsing Bitcoin as a robust financial alternative. Presidents like Bukele in El Salvador and Milei in Argentina have shown that pro-bitcoin policies can be popular and effective in improving economic conditions. Di Bartolomeo anticipates that the next electoral cycle in the region will be heavily influenced by the…

It has been 29 days since the halving and the launch of the Runes protocol, and since May 1, Runes activity has been underwhelming, falling short of the expectations set months prior. Similarly, the trend of Ordinals inscriptions has significantly declined over the past month. Runes Protocol’s Initial Excitement Dwindles Amid Decreased Activity Before the halving, the Runes protocol generated a lot of excitement, with many anticipating it would be the next major development. When the halving occurred at block height 840,000, it seemed Runes would significantly impact the network as fees soared to over $240 per transfer. However, the…

Ethereum price has held relatively well in the past few days as the odds of spot ETF approvals rose. ETH token was trading at $3,455 on Friday, a few points above this week’s low of $3,233. It remains in a correction zone after falling by 13% from its highest point this month. The main catalyst for Ethereum is the anticipated spot Ethereum ETF approval by the Securities and Exchange Commission (SEC). As we reported on Thursday, there is a rising possibility that spot Ethereum ETFs will start trading soon. The rising anticipation happened after VanEck filed form 8-A, which is…

Dog-themed cryptocurrency Shiba Inu (SHIB)’s community is seeing a surge in burn rate, which has skyrocketed by an astounding 3,894%. This significant increase has led to millions of SHIB tokens being permanently removed from circulation. Token burning is a process where a certain amount of cryptocurrency is burned to reduce its overall supply. This is typically done by sending the tokens to a “burn” address, a wallet from which they can never be retrieved. The primary goal of burning tokens is to create scarcity, which can potentially increase the value of the remaining tokens. In the last 24 hours, Shiba…

In a landmark decision on June 28, 2024, the Supreme Court of the United States, by a 6-3 vote, overruled the longstanding Chevron doctrine, fundamentally reshaping the landscape of administrative law and judicial review. The case,Loper Bright Enterprises v. Raimondo, signals a significant shift in the balance of power between the judiciary and administrative agencies. This decision not only reinforces judicial independence but also presents substantial benefits for the Bitcoin industry, echoing the implications of last year’s West Virginia v. EPA decision. The Case The Chevron doctrine, established in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S.…

The Bitcoin (BTC) price has reached the critical golden ratio resistance at around $67,500. BTC has been up roughly 10% in the last four days. However, Bitcoin is now encountering significant resistance. Will this lead to a bearish rejection for BTC? Will Bitcoin’s Current Price Return to the Upward Trend? Bitcoin’s price has risen over 10% in the last four days, forming a bullish price pattern. This is due to Bitcoin creating an inverse head-and-shoulders pattern, from which the BTC price has already broken out bullishly. The golden ratio near $67,500 coincides with BTC’s crucial Fibonacci resistance. A bullish break…