Category: Cryptocurrency News

submitted by /u/trrrring [link] [comments]

A day after Twitter implemented new restrictions on the number of posts users can view, rival platform Mastodon reported a major increase in traffic.

Bitcoin has risen by almost 80% in the first six months of 2023. However, as has been the case in the past, the cryptocurrency has experienced periods of stagnation before making any significant moves.  This has resulted in a consolidation phase that has left investors waiting in anticipation for the next direction. And if attempts to breach upper resistance lines fail, it could jeopardize most of the gains made in the last few months of 2023. Will Bitcoin Plummet To The Depths? Crypto analyst under the pseudonym “Captain Faibik” on Twitter, has recently made some bold predictions about Bitcoin’s future.  Despite the current bullish sentiment in the market and the possibility of reaching a new yearly high for 2023, Captain Faibik warns that bulls are not “out of the woods yet.”  Faibik believes that Bitcoin may retest the $20,000 region in the upcoming months of August and September. However, Faibik also believes that the Bitcoin bull run will officially start in November 2023. Related Reading: Shiba Inu Lead Dev Teases Shibarium Launch, How High Can SHIB Rise? On the other hand, the recent confirmation of a 2-week buy signal, a successful retest from the breakout, and the Moving Average Convergence/Divergence (MACD) crossing above the “0” level for Bitcoin have caught the attention of traders and investors alike.  These indicators have only occurred in 2015, 2019, and 2020, leading many to believe that a significant price movement is imminent. Trader “Moustache” highlights that while history doesn’t repeat itself exactly, it often rhymes. This means that while past events can provide insights into potential market movements, there are no guarantees in the volatile cryptocurrency market.  However, the fact that these same technical indicators have been observed in the past and have been followed by significant price movements is a cause for excitement among Bitcoin investors. The 2-week buy signal is a particularly significant indicator, suggesting that Bitcoin is oversold and undervalued, making it an attractive investment opportunity. The successful retest from the breakout is also a positive sign as it indicates that the breakout was not a false signal, and the new price level has been validated. The MACD crossing above the “0” level is another bullish indicator as it suggests that the momentum is shifting in favor of the bulls. This is important as it indicates that the buying pressure is increasing, which could lead to a significant price movement shortly. BTC Set To Soar? Economist and trader MikyBull has been closely analyzing the pre-halving price action of Bitcoin for 2024. According to MikyBull, the current accumulation phase is wider than previous halvings, indicating that the post-halving rally may take longer to materialize. However, the wider accumulation phase could also result in a more significant price increase. Related Reading: Litecoin $100 Milestone Indicates Promising Bullish Trends – Here’s Why Furthermore, Bitcoin’s price has already tapped into the bi-yearly resistance, which is a crucial price level that has historically led to breakouts. This indicates that a price breakout is imminent, and MikyBull anticipates a rally before the halving event with a price target between $35,000 and $40,000. At the time of writing, Bitcoin is trading at $30,600, representing a modest gain of 0.4% over the past 24 hours. It is unclear whether the cryptocurrency will continue to hold this level or if a significant pullback will occur.  Nonetheless, the current market sentiment favors bullish investors, and Bitcoin appears to be well-positioned for another attempt to break through the $31,000 line. If successful, this could pave the way for the cryptocurrency to achieve further milestones throughout the remainder of 2023. Featured image from Unsplash, chart from TradingView.com 

The U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownership.

Hello, I encountered an issue that initially prompted me to seek assistance on another subreddit. However, I have been guided to present the problem here, as it seems more appropriate for the specific problem, which revolves around proving address ownership probably by considering address multi-chain activity also. Original post: https://www.reddit.com/r/plutus/comments/14otttk/missing_plu_deposit_on_coinbase/ In brief, my problem involves…
Read more

Litecoin (LTC) has been on a remarkable run in the past three days, emerging as one of the most impressive performers among cryptocurrencies this week. But what’s causing this sudden surge in its price?  The answer lies in the anticipation of a major event that’s just around the corner: the impending halving of Litecoin, set to take place on August 2. Similar to Bitcoin, Litecoin undergoes halvings after a specific number of blocks are mined, roughly every four years.  As the halving approaches, investors and enthusiasts are left wondering: will Litecoin’s price continue to soar, or is there more to this story than meets the eye? LTC trading at $112.35. Source: Coingecko Litecoin Price Rally And Resistance Breakthrough LTC has demonstrated a strong performance in recent days, currently trading at $112.35 according to CoinGecko. Over the past 24 hours, LTC experienced a notable rally of 5.1%, and within a seven-day timeframe, it surged by an astonishing 29.0%. Related Reading: Solana Firedancer: 15% Rally Fueled By Ongoing Network Improvements Over the weekend, LTC managed to surpass the crucial $100 mark, and since then, it has sustained trading above this key level of resistance. This resilience indicates bullish tendencies and raises the possibility of a significant breakthrough, with the potential for the $100 resistance to transform into support. Such a development could pave the way for a sustained bull run, potentially propelling the token to reach $130 in the near future. Social Activity Volume And Halving Event Hype The surge in LTC’s price has coincided with heightened social activity volume, as observed by the blockchain analytics firm Santiment. This suggests a correlation between price spikes and increased interest and engagement surrounding the crypto. LTC market cap nears the $8 billion level. Chart: TradingView.com The anticipation of Litecoin’s upcoming halving event has generated a surge in demand for the asset, driving its price upward. ⚡ #Litecoin is under 5 weeks away from its #halving, taking place on August 3rd. Prices have suddenly soared for $LTC, blasting off for a +26% in just over a day. Watch for mainstream #FOMO, as this usually foreshadows local tops until crowds calm down. https://t.co/KljBpjVy3C pic.twitter.com/7kDqEpyZjz — Santiment (@santimentfeed) July 1, 2023 Litecoin’s halving events have historically been associated with significant price movements. In the months leading up to previous halvings, Litecoin experienced notable price surges. These halvings have been pivotal moments for the crypto asset, often triggering a period of increased market activity and bullish sentiment. Related Reading: Why AVAX Price Rumble Stalls Despite Surge In Daily Activity The underlying principle behind the price surge observed before halving events is the anticipation of reduced supply coupled with sustained or growing demand. As the number of new coins entering the market decreases, if demand remains steady or increases, the scarcity of Litecoin can drive up its price. This scarcity narrative has been a driving force behind the previous bull runs experienced by Litecoin, and the upcoming halving event is expected to generate similar dynamics. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Master The Crypto

I saw this tweeted earlier decided to test it myself to see what answer I would get from Siri. Asked Siri – What's the price of Bitcoin? on my phone* and received the price of Bitcoin Cash ​ https://preview.redd.it/bfo1xvqmxq9b1.jpg?width=1284&format=pjpg&auto=webp&s=8fb00f8769c8f58acd08ec291ecb6b9d9bbd656f ​ ​ Bitcoin Cash Maxis are loving the attention and claiming that "even Siri knows that…
Read more

The exploiter used a “panic” function buried within eight different smart contracts to remove $1 million worth of users’ funds without their permission.

Artificial intelligence isn’t just generating lots of content these days, but equally, lots of excitement too.