Category: Cryptocurrency News

Twitter emailed researchers to let them know they’ll either have to delete their data or pay $42,000 to keep using the platform’s API.

In a recent note, JPMorgan strategists have made a prediction, suggesting that Bitcoin (BTC) could soar and revisit its former trading price of $45,000 due to the rising price of gold. This prediction comes amid Bitcoin’s price action of a blend of bulls and bears in the past week. Meanwhile, over the past 24 hours, BTC has seen a 2.1% gain with a current trading price above $26,000. The current surge comes after Bitcoin previously fall that dropped its price below its previously ranging market price of $28,000. Bitcoin And Gold: A Correlation Bitcoin and gold have often been regarded as alternative investments by investors, and their prices have displayed a tendency to move in tandem. Given this, JPMorgan analysts note that the current gold price, hovering near $2,000 per ounce, implies a Bitcoin price of $45,000. This assumption is based on the idea that BTC will reach a similar standing as gold in the portfolios of private investors. Related Reading: Bitcoin Price Struggles To Recover and Remains Vulnerable To Fresh Decline JP Morgan wrote in a note: With the gold price rising above $2,000, the value of gold held for investment purposes outside central banks is currently valued at around [$3 trillion]. In turn, this implies a $45,000 price for bitcoin under the assumption that bitcoin equalizes gold in private investors’ portfolios in risk capital or [volume]-adjusted terms. One key factor contributing to JPMorgan’s optimistic prediction is the upcoming Bitcoin halving event, scheduled to take place between April and May 2024. The halving mechanism reduces the rate at which new Bitcoins are produced, effectively doubling the production cost. The JPMorgan strategists believe this event will push Bitcoin’s production cost to approximately $40,000, acting as a lower bound and potentially driving the price upward. Drawing from historical data, JPMorgan highlights the bullish trajectory observed during previous halving events in 2016 and 2020. These events were accompanied by significant surges in Bitcoin prices, indicating the potential for a similar outcome following the next halving. As a result, JPMorgan sets an upper limit of $45,000 for BTC, indicating limited potential beyond the increase driven by the doubling of production costs. Reflecting On Ethereum (ETH) While Bitcoin takes the spotlight in JPMorgan’s prediction, the bank suggests that Ethereum (ETH) may face some selling pressure in the near term, extending beyond the Shanghai upgrade until mid-year. JPMorgan expects Ethereum to “somewhat underperform” BTC during this period. However, it’s essential to note that Ethereum’s performance is subject to a range of factors, including market dynamics and technological developments. Related Reading: The Best Decision Is To ‘Buy Bitcoin (BTC),’ Robert Kiyosaki Urges Meanwhile, regardless of JPMorgan’s prediction, BTC is currently in a bullish trend recording an uptick. Over the past 24 hours, Bitcoin has seen more than a 2% gain, while the past seven days have seen a dip of 1.2%. At the time of writing, the top crypto currently trades at $26,823. Bitcoin’s trading volume has, however, ranged around $20 billion in the past 7 days, indicating a possible accumulation. Bitcoin currently has a trading volume of $13.1 billion in the past 24 hours. Featured image from Shutterstock, Chart from TradingView

Bitcoin decides that bad news is not bad enough as upside volatility accompanies proof that U.S. inflation remains sticky.

He first started trying to slowly bring it up to his Twitter followers on April 2, 2019. Probably he schemed an idea to buy shitload of Doge and then try to bring it back to mainstream to his cult fanboys and make shitload of money that way if price increases incredibly because of it. He…
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have this basic contract made on Openzeppelin Wizard , but everytime i try to deploy it on Mainnet i get the same error " exceeds gas allowance".I succesfully deployed it on Goerli. I've tried everything online but can t solve it. // SPDX-License-Identifier: MIT pragma solidity ^0.8.9; import "@openzeppelin/contracts@4.9.0/token/ERC20/ERC20.sol"; import"@openzeppelin/contracts@4.9.0/token/ERC20/extensions/ERC20Burnable.sol"; contract Muiasa is ERC20, ERC20Burnable…
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A top SHIB whale added $1.18 million worth of Shiba Inu within 24 hours. Data from Etherscan.io reveals that this whale ranked as the nineteenth largest SHIB holder accumulating 140 Billion SHIB. The whale acquired the SHIB tokens in two separate transactions marking its second massive accumulation within 72 hours. SHIB Token Burns And Shibarium Launch Likely Behind Accumulation Shiba Inu network and users engaged in massive SHIB burn events in 2023. The burning mechanism aims to reduce excess tokens and boost SHIB’s price. However, no notable price increase has occurred since the token burn events.  Nevertheless, the top SHIB whales are accumulating the tokens ahead of the Shibarium launch and a possible price increase for the asset. Related Reading: Bitcoin Hangs At $26,200: Why This Is A Crucial Support Level BLAZE token has been identified as the largest SHIB burner in recent times on the ecosystem. Shiba Inu Team Member Projects Timeline For Shibarium Launch A member of Shiba Inu’s marketing team, LUCIE, shared her thoughts on the proposed mainnet launch of Shibarium in a Tweet.  Shibarium is a Layer-2 (L2) scaling solution created for the Shiba Inu ecosystem. Its launch date is highly speculative, with several dates proposed in the past. However, LUCIE stated that she guessed the launch date would be in Q3 of 2023, while Shiba Inu founder Shytoshi Kusama projects in July. The exact launch date remains a mystery and LUCIE believes the Shibarium Mainnet Launch will happen between the second and third quarters of 2023.  Related Reading: Bitcoin Bearish Signal: NUPL Finds Rejection At Long-Term Resistance Additionally, she believes that Shiba’s team remains confident about the launch, with multiple teams working on it and exploring Artificial Intelligence (AI) integration. LUCIE emphasized that the testing process is crucial and security audits are necessary before its launch. She explained further, that if tests go wrong, the Shibarium mainnet release will delay. Shiba Inu Price Outlook Despite the recent announcements concerning Shibarium’s launch, SHIB did not record much price fluctuation. It traded at $0.000009967 on May 1, 2023, before moving to $0.00001002 on May 2. However, by May 4, its price dropped to $0.000009896, losing some of its earlier gains. SHIB dropped to $0.000008695 on May 11, showing price volatility. The bulls attempted to rally on May 23, pushing its price to $0.000008899. However, SHIB met resistance returning to $0.000008519 on May 24 and is trading at $0.000008479 at press time today, depicting a 0.16% increase in 24 hours.  Despite the price gain, SHIB’s trading volume is down by 8%, a possible signal of traders’ hesitation in the market. But the launch of the Shibarium mainnet in the ecosystem may be the price catalyst SHIB needs to reclaim its gains as it may boost SHIB usage. Featured image from Pixabay and chart from Tradingview.com