Author: NBTC

Bitcoin price growth could continue, a South Korean crypto analyst has predicted, as “crypto fever” slowly takes hold in the nation. According to Hanguk Kyungjae, the “consensus” among the nation’s “industry experts” is that Bitcoin (BTC) prices will keep going up. The media outlet said that forecasters think the coin “will continue its upward trend for the time.” But experts warned of a forthcoming “short-term adjustment in prices.” Bitcoin Price Growth: Potential for Further Rises? The media outlet quoted Ju Ki-young, the CEO of the Bitcoin on-chain analysis firm CryptoQuant, as saying: “If the market’s maximum degree of overheating is…

Traders on Polymarket now put the probability of the Fed holding rates steady in 2024 at 32%, compared to 7% in March. Traditional markets have scaled back expectations to two 25 basis points rate cuts from six in early January. The probability that the U.S. Federal Reserve (Fed) will keep interest rates unchanged this year is rising. Betters on blockchain-based betting site Polymarket now see a 32% chance of the Fed keeping the benchmark interest rate steady between 5.2% and 5.5% by the end of the year. That’s a significant change from the 7% probability seen nearly a month ago.…

In the recent week, bitcoin and ethereum have regained their pace, with a specific set of nine cryptocurrencies posting significant gains in the double digits. During this period, CKB enjoyed a 47.1% uptick, BGB ascended by 21.6%, and TAO increased by 19.3%. Highlighting the Week’s Crypto Victors and Losers On Monday, April 8, 2024, the cryptocurrency market experienced a 4.56% expansion to $2.7 trillion in the last 24 hours. The global trading volume saw a 44% rise from the previous day, now standing at $84.22 billion. Excluding BTC, ETH, and stablecoins, the highest volumes this week were captured by SOL,…

The U.S. Internal Revenue Service (IRS) has previewed what crypto investors’ future tax form might look like when it finishes its much-debated rule on how cryptocurrency transactions should be reported to the federal government. The IRS offered a draft of the 1099-DA form that would be meant to figure out the taxable gains or losses when brokered digital assets change hands. The form reveals the agency will likely have an array of individual token codes that can be filled in, and it includes spaces for wallet addresses and where to find transactions on the relevant blockchain. “Brokers must report proceeds…

Blockchain technology has held one flag flying high, that is of cryptocurrency, and it has done that for a long time. Now, the world is exploring other use cases of blockchain technology, and Tyron is one of the leaders in that aspect. Justin Sun, the founder of TRON, highlighted the same in the Global Blockchain Show, shedding light on the fact that they are essentially banking on the unbanked population across the world. For starters, Justin Sun said that the ideal target is to create convenience for users through the use of blockchain technology. When it comes to obtaining access…

Bitcoin’s rising wedge pattern suggests potential for price pullback, according to crypto analyst Josh Olszewicz. The cryptocurrency’s 10-day rate of change has decoupled from rising prices. A key price pattern has emerged on bitcoin’s (BTC) price chart, hinting at a potential pullback ahead. The cryptocurrency has rallied from $60,000 to new record highs above $70,000 in less than two weeks. The ascent has taken the shape of a “rising wedge,” which is a bearish pattern, according to technical analysis theory. “Normally rising wedges resolve bearish,” crypto analyst and trader Josh Olszewicz told CoinDesk, explaining a possibility of a typical bull…

Almost two years after its spectacular blow-up, Three Arrows Capital (3AC) co-founder Zhu Su has helpfully offered advice to Ethena on how to manage risk. Su’s fund blew up spectacularly in 2022 after aggressively pursuing his ‘supercycle’ thesis. 3AC ghosted creditors and was uncooperative with liquidators, leading to Su’s imprisonment in September after attempting to flee Singapore. Su’s partner in crime Kyle Davies remains unrepentant and intends to avoid jail. Boldly presuming Ethena’s risk managers would want his advice in the first place, Su suggests leveraging up the long side of the trade to keep the ETH ‘funding rate’ high.…

What does the launch of the new digital currency mean for the future of XRP and the crypto market? Ripple (XRP) announced on Apr. 4 that it is diving into the stablecoin market, launching a digital currency tied to the U.S. dollar. The company aims to bring more stability and ease of use to its XRP Ledger. Ripple plans to back its new stablecoin with U.S. dollar deposits, short-term U.S. government treasuries, and similar assets along with third-party audits and monthly reports on its reserve assets. This move puts Ripple in competition with giants like Tether’s USDT and Circle’s USDC…

A member of the Securities and Exchange Commission (SEC) who is emphatically critical of Bitcoin and crypto may lose her spot at the agency’s high table on June 5, government records would suggest. Per the SEC’s website, Commissioner Caroline A. Crenshaw was sworn into her position alongside Commissioner Hester M. Peirce (aka “Crypto Mom”) on August 17, 2020. Both have terms that are due to expire on June 5 – less than 50 days from today. SEC Commissioner Approaches End Of Term According to Fox Business journalist Eleanor Terret, recent White House statements and nominations show no signs that Crenshaw…

Chainlink has announced a new partnership with Cyfrin, a smart contracts audit and research firm, to offer users of its BUILD and SCALE programs private smart contract and protocol audits. Cyfrin will offer market-leading products, including competitive audits platform CodeHawks, developer education platform Updraft, and Solodit, an aggregator with over 8,000 security findings. Chainlink’s mission to offer its ecosystem the best products and services took a massive stride this week, with the oracle network announcing a new partnership with Cyfrin, a smart contracts audit and research company. Chainlink announced the partnership on Wednesday, describing it as a strategic alliance that…