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These Metrics Hint At Massive Bitcoin ‘Buying Opportunity’, Says Analyst

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Bitcoin usually sets the pace for other cryptocurrencies to follow. Analysts usually focus on Bitcoin to identify or predict market trends.

The latest analysis from pseudonym analyst Game of Tradeshas revealed six on-chain metrics showing the same levels that occurred during the bottom three bear markets in the past. The analyst Game of Trades says that the on-chain data signals BTC investment as a “generational buying opportunity.”

Analyst Reveal Six Important Metrics For Bitcoin

The pseudonym analyst shared his findings on Twitter, discussing the current accumulation, reserve risk, dormancy floor, and other positive key indicators for Bitcoin.   Read more...

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Is Bitcoin A ‘Fraud’ And ‘Pet Rock?’ JPMorgan CEO Jamie Dimon Says So

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Despite the prolonged crypto winter, proponents of cryptocurrencies are bullish about the industry’s prospects. And so far this year, they have had cause for happiness.

After a dismal 2022, the price of Bitcoin, the most popular cryptocurrency in the world, has been inching upward over the past few weeks.

According to data from Coingecko, Bitcoin is trading at $ 22,709 at the time of writing, an increase of 15% over the past week.

However, JPMorgan Chase CEO Jamie Dimon remains unconvinced of the crypto’s performance. In fact, he has always been.  Read more...

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SEC Lawsuit Against Gemini Is Political, Says Tyler Winklevoss

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The U.S. Securities and Exchange Commission (SEC) announced on Thursday, January 12 it had filed charges against Genesis Global Capital LLC and Gemini Trust Company LLC. The charges bordered on the illegal sale of unregistered securities to numerous investors through a crypto lending program.

Tyler Winklevoss, a co-founder of Gemini, reacted to the announcement. In his opinion, the Securities and Exchange Commission (SEC) lawsuit will reduce the chances of users receiving their funds. Winklevoss reacting on Twitter, labeled the lawsuit as “rather disappointing.”  Read more...

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Peter Schiff Says Get Ready For Worse Inflation, What Does This Mean For Bitcoin?

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Economist Peter Schiff has been in strong opposition to bitcoin for a long time, and his stance on the digital asset has not changed over time. However, recent forecasts from the economist could actually be in favor of bitcoin if they do come to pass. Just before the end of the year 2022, Schiff shared his thoughts about inflation, the US dollar, and where he believes both of these are headed.

Inflation Will Surge, Dollar Will Suffer

In tweets that were shared by the economist, he talks about the current inflation trend. According to Schiff, the current belief that inflation would slow down in the new year are wrong. Rather, he expects higher inflation numbers in 2023.  Read more...

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Is The NFT Bull Market Back? Here’s What The Data Says

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The NFT market took a rather significant beating in the year 2022 despite reaching its peak trading volume at the start of the year. Since then, volume is down more than 94% as investors move away from these highly illiquid assets. However, there has been an upturn in NFT volume in the last month, so is the NFT bull market back?

What The Data Says

Looking at data from IntoTheBlock, it does show that there has been a rise in NFT trading volume over the last month but this has not been steady growth. In fact, the graph shows more of a zig-zag pattern meaning that the volume has seen highs and lows during this time.  Read more...

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Tesla And Bitcoin Have ‘More In Common Than You Think,’ This Nobel Prize Winner Says

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Nobel Laureate Paul Krugman has joined the ranks of the world’s intellectuals and business moguls to give the thumbs-down to cryptocurrency.

Last June, the American economist drew parallels between the cryptocurrency craze and the real estate bubble of the mid-2000s, stating that consumers’ belief in crypto assets is comparable to their enthusiasm in the US home market prior to its collapse.

Fast forward six months, Krugman has compared the crypto to Tesla and its stocks.

On Tuesday, Krugman wrote an opinion piece in the New York Times regarding Tesla, bitcoin, and their massive market prices.

In his article, he inquired:  Read more...

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Hoskinson Says ADA Not Being Listed On Gemini Is A ‘Good Thing’, Here’s Why

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Cardano founder Charles Hoskinson has shared his thoughts on ADA not being listed on the Gemini crypto exchange. Where such an exchange not listing a high-ranking digital asset such as ADA would usually draw criticism, Hoskinson does not seem to mind this and instead welcomes it.

No Need To Be On Gemini

Gemini crypto exchange is one of the large exchanges that are yet to have Cardano for trading on its platform. The exchange which currently lists more than 110 coins, the majority of those being assets with a lower market cap than Cardano, has dragged its feet on listing ADA but founder Charles Hoskinson is not stressing it.  Read more...

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Mark Cuban Chooses Bitcoin, Says ‘If You Have Gold, You’re Dumb As F*C*’

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The comparison between bitcoin and gold gets livelier.

Although the sudden collapse of cryptocurrency exchange FTX has left a very bad taste among many investors, Mark Cuban still has not given up on crypto.

In an apparent demonstration of his support for bitcoin, the billionaire also flung an expletive at gold speculators.

In an episode of the “Club Random” podcast hosted by comedian Bill Maher and set to air Monday, the owner of the NBA team Dallas Mavericks provided his thoughts on gold and bitcoin.

Cuban stated that bitcoin is an excellent investment and wants the price to drop further so he may purchase more.  Read more...

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Binance Has No Debt And Assets Are Segregated, Report Says

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Binance has been under intense scrutiny since it released its proof of reserves about a month ago. The crypto exchange had done so in a bid to assure users that all deposited funds were safe and that it was not going to collapse like FTX, but this had backfired spectacularly for the company. As the FUD ramped up, more than $ 6 billion was withdrawn from the exchange in a matter of days. Now, Binance has come forward to address the most pressing questions from the community.  Read more...

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SEC Wants To Kill Crypto And Ripple In The US, Defense Lawyer Says

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On November 7, 2022, the district court in New Hampshire granted summary judgment in favor of the U.S. Securities and Exchange Commission (SEC) against the blockchain payment network LBRY. This was the third notable win for the agency, following the SEC’s victories against Kik and Telegram, while the Ripple case is about to be decided, also on summary judgment.

Although the court’s opinion hardly broke new ground, relying on fact-specific analysis based on the Howey test, the LBRY decision continues a trend of courts focusing on the specific details to determine whether tokens constitute an investment contract based on a test that dates back to 1946. Meanwhile, the crypto industry in the U.S. is still waiting for proper regulation.  Read more...

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Binance’s Proof-Of-Reserves Report “Makes Sense” With On-Chain Data, Says CryptoQuant

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CryptoQuant says Binance’s recently released Proof-of-Reserves report “makes sense” when compared with on-chain data.

Binance’s Bitcoin Liabilities In Proof-Of-Reserves Report Are Consistent With On-Chain Data

The Proof-of-Reserves (PoR) here refers to the public proof that an exchange has backed its customers’ entire deposits with proper collateralization. Since the collapse of FTX, distrust around centralized platforms has grown among investors in the cryptocurrency market, and they have been demanding for exchanges to release PoR reports.  Read more...

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Bitcoin Maximalist Michael Saylor Says Ethereum Could Collapse Like LUNA

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Ethereum has come under fire from bitcoin maximalist and former MicroStrategy CEO Michael Saylor who has compared the network to LUNA, which tragically collapsed in May 2022. The effects of the collapse continue to haunt the broader crypto market, playing a role in the collapse of many notable crypto firms. Now, Saylor has pointed fingers at Proof of Stake (PoS) networks like Ethereum as carrying a possibility of crashing like the infamous Terra.

Will Ethereum Break Like LUNA?

In a Twitter post, the MicroStrategy ex-CEO highlighted that Ethereum is at risk of seeing a LUNA-level event. The argument was basically a comparison of bitcoin to other cryptocurrencies such as Ethereum which Saylor believes are unstable.  Read more...

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SBF Says FTX Owns $9B Illiquid Assets And Wants To ‘Restart’

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Sam Bankman-Fried, former CEO of crypto exchange FTX, still hasn’t finished his Twitter thread. In the bizarre posts, SBF recently wrote that his “one goal” is “to do right by customers.”

Contrary to revelations in recent days, the former FTX CEO claimed that Alameda owned more assets than liabilities M2M but not liquid, that Alameda had a margin position on FTX Intl and FTX US had enough funds to compensate all customers.

“I am doing what I can to make this happen. I am personally meeting with regulators and working with teams to do what we can for customers,” SBF wrote.  Read more...

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CBDCs Could Reduce FX Transaction Speeds to 10 Seconds, NY Fed Says

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Foreign exchange transactions could drop from a two-day process to less than 10 seconds if central bank digital currencies (CBDCs) were involved, according to an experiment conducted by the Federal Reserve Bank of New York.
CoinDesk

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Ethereum Could Breach $3,000 Level In 2023 And It ‘Makes Sense,’ This Analyst Says

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Ethereum (ETH) price went down by 2.8% over the last 24 hours but the asset still has the ability to sustain the $ 1,500 range.

At press time, according to tracking from Coingecko, the second largest cryptocurrency in terms of market capitalization is trading at $ 1,506 and is still up by 17.5% for the past seven days.

The “post merge crash” that Bitcoin and other cryptocurrencies endured a few weeks ago has helped put the “king of all altcoins” back on top.

That challenging period saw Ethereum struggle to hold and surpass the $ 1,300 and $ 1,400 levels.  Read more...

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Bitcoin Puell Multiple Continues Uptrend, Here’s What History Says Might Happen Next

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On-chain data shows the Bitcoin Puell Multiple has been going up recently after having formed a possible bottom. Here’s what history says could happen next for the crypto’s price.

Bitcoin Puell Multiple 100MA Has Bounced Off A Potential Cycle Bottom

As pointed out by an analyst in a CryptoQuant post, BTC miners seem to be betting on a price rise as they have been aggressively increasing their hashrate recently.

The “Puell Multiple” is an indicator that measures the ratio between the current mining revenues (in USD) to the 365 days moving average of the same.  Read more...

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Some, Not All, Crypto Token Screenings Will Be Scrapped, Japan’s JVCEA Official Says

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The legally approved self-regulatory body wants to streamline pre-screenings for tokens that are already listed on local exchanges while keeping existing standards for other assets including those only listed on foreign platforms.
CoinDesk

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Bitcoin Is The Ultimate Freedom, Says Former EU MP Nigel Farage

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The former Member of the European Parliament drew parallels between leading a “political insurgency” with Brexit and the opposition Bitcoin experiences today.

Any new idea automatically faces the opposition of the establishment, said former Member of the European Parliament, Nigel Farage, on a panel at Bitcoin Amsterdam on Thursday.

That argument served as the introduction to Farage’s point throughout the conversation, as he drew parallels between Bitcoin and his experience pushing the then-unpopular idea of Brexit, the exit of the U.K. from the European Union.  Read more...

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