Category: Cryptocurrency News

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This week it will be 4 months since since Bitcoin dropped to $17.7K, and there still hasn't been a new low. Bitcoin has been stuck in crab land. ​ The last 4 months since the dip to $17.7K. What happened in 2018? After finally breaking below $6K, Bitcoin hit its lowest point in that market…
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We all have been at a point where we want to commit to a new project or do research about it. Especially with social media shilling crypto 24/7 a lot of interest in alt coins exist. But how exactly do you do your own research on alts? Without getting stuck in a biased shill post?…
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19 days ago, usd coin (USDC), the second largest stablecoin by market capitalization, had an overall valuation of around $48.82 billion and since then, it has continued to deflate down to today’s $44.93 billion. Statistics show that during the last three months, USDC’s market valuation has dropped by more than 19%, shedding approximately $10.59 billion. […]

The report alleges that Binance tried to insulate itself from regulatory scrutiny — a suggestion the exchange denies.

Bitcoin price continues to trade within a tight range, setting up possible short-term breakout for MATIC, HT, QNT and OKB.

Over time, the crypto market has strongly correlated with US equities, and Bitcoin has indicated a significant correlation with S&P 500 index. The price of the primary crypto asset has followed a similar pattern to the stock. Many predictions from experts on BTC were drawn from the possible outplay for the equity stock. Also, the response of Bitcoin to critical macroeconomic conditions is related to that of the stock index. Related Reading: TOP 5 Cryptos To Watch This Week – BNB, BTC, ETH, QNT, LEO Following the correlation between the two markets, some market experts give forecasts for future price trends. According to Morgan Stanley’s CIO, Michael J. Wilson, the US will soon have a short-term rally of 16%. The bear market expert noted that the price surge would only be possible without an official recession or earning capitulation. Short-Term Price Recovery In Stock Markets And Bitcoin Status According to Wilson, the US stock market will witness a short-term recovery. This offers the possibility of the S&P 500 hitting the 200-weekly moving average (WMA), as per Bloomberg. Due to the unfavorable macroeconomic conditions and the impacts of the increased interest rates, the index dropped this year. However, the present price movement for Bitcoin has not been too impressive. BTC price is currently below its critical level of $20K. Also, the 200-WMA is close to the $23k region. Even with its short-term rally in August, Bitcoin is yet to cross the 200-WMA. Bitcoin has experienced several price rallies following the crypto winter that pushed the price below $20,000 in June. But the battle seems to be unending. The bulls are yet to take a more potent force against the bears keeping the BTC price still hovering below $20K. Recall that Wall Street’s most notable prominent bearish voice, Michael Wilson, predicted this year’s decline correctly. His position on a long-term overall negative trend in the stock market is still unfazed. But currently, he predicts a 16% short-term price rally. The Wait For Feds’ Next Hike On Rates Activities in the crypto market seem to be dragging. Most traders take their time with little or no significant transactions. Instead, they are expecting the outcome of the next Fed FOMC meeting slated on Nov 2. The decision in the meeting will drive the market for the next few months. Related Reading: Ethereum In Tight Range – Will Selling Pressure Push ETH Below $1,250? A report from the CME FedWatch Tool indicates a 95.4% possibility of another 75bps hike. Also, the Dollar index moves higher toward 113. Recall that the US Federal Reserve has maintained a hawkish stance in controlling inflation despite increasing fears of recession. From Michael Wilson’s analysis, inflation has hit its peak. Though the core CPI data surged to a 40-year high, the Fed may impose a 50-bps hike on rates. At the time of writing, Bitcoin is trading at $19,536, indicating a rise of 1.42% over the past 24 hours. Featured image from Pixabay and chart from TradingView.com

Cardano has often come under fire from those in the crypto space who have often mocked the apparent ‘lack of growth’ of the network. This has been especially more prominent when it comes to the decentralized finance (DeFi) part of the blockchain, as it continues to remain well behind its counterparts in the sector. However, the talks of Cardano being a ‘dead’ blockchain could not be further from the truth given how much development is being carried out. One Of The Most Active The developments that are being carried out on the Cardano network go to show just how much the blockchain is being worked on. It is in the nature of crypto investors to judge blockchains basically based on the hype they get and not the actual development being carried out, which has not been a good trend for the space. Related Reading: Why You Should Start Paying Attention To Football Fan Tokens About two weeks ago, Ethereum maximalist Evan Van Ness had taken to Twitter to call Cardano a zombiechain, mocking the low activity on the network. However, the stats are in and Cardano has been shown to be one of the networks with the most development being carried out. In the report by Coin98 Analytics, Cardano was the 2nd blockchain with the most active developer counts. It ranked only behind Ethereum and was ahead of beloved blockchains in the space. It is ranked ahead of big hitters such as Solana, Polkadot, and Bitcoin. Ranking of active developer counts: 1. Ethereum2. Cardano3. Polkadot4. Cosmos5. Solana6. Near7. Hedera8. Elrond9. Bitcoin10. Polygon11. Celo12. Algorand13. Avalanche14. Waves15. Optimism16. Mina17. Tron18. Fantom pic.twitter.com/M4dDfFImaG — Coin98 Analytics (@Coin98Analytics) October 15, 2022 Cardano (ADA) On The Charts Over the last year, Cardano has been hit worse than some other blockchains in terms of price. It has declined more than 88% from its all-time high price and has not shown the best strength in the bear market so far, but there is still some fight left in the digital asset. ADA price falls to $0.37 | Source: ADAUSD on TradingView.com A report from CryptoQuant put the digital asset in an oversold position given its Relative Strength Index (RSI), which means that a recovery may be in the works for the digital asset. But the general market sentiment has not spelled good fortune for the digital asset. There could be more sell-offs to happen with the digital asset in the coming days. Related Reading: Bitcoin Shakes Off Bears Following CPI Release, But Will This last? Some indicators have put the price of Cardano below $0.25 before it will mark its market bottom but in the meantime, the digital asset has been able to hold firmly above $0.35, a point that has become critical support for the cryptocurrency. The active developments on the blockchain paint a bull case for the cryptocurrency. IOG, the developer behind the Cardano network, has confirmed that there are already 102 projects that have been deployed on the blockchain so far, and there are now 6.4 million native tokens spanning more than 63,000 token policies. Featured image from Analytics Insight, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Despite the shift, Cameron and Tyler Winklevoss continue to run the cryptocurrency exchange’s global operations.