Category: Cryptocurrency News

A federal magistrate judge has denied the SEC’s request to gain immediate access to Binance.US’s software, asking the regulator to provide more specific requests for discovery.

Kenyan Cabinet Secretary (CS) revealed that Alex Blania, co-founder of Tools for Humanity (behind Worldcoin) and his legal spokesman, Thomas Scott were detained at the airport when trying to leave Kenya. "They tried to leave the country but were stopped and put in custody. However, the US government intervened saying they should be allowed to…
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Bitcoin’s last all-time high was $69,000 in November 2021; as of September 2023, it’s been 22 months since that peak. While estimating what price Bitcoin could reach next can be very useful, it’s also important to estimate when a new peak could occur. History suggests this may still be some time away, as analysis shows that the next Bitcoin peak could arise around the end of 2025. Previous Cycles A specific pattern seems to occur when looking at previous tops and bottoms. The three previous bottoms, January 2015, December 2018, and November 2022, were all exactly 47 months apart. Similarly, the previous three tops, November 2013, December 2017, and November 2021, are either 49 or 47 months apart. Market participants could anticipate the next Bitcoin peak around October-December 2025 if this pattern persists. The subsequent bottom could then occur around October 2026. Source BTCUSD on TradingView.com This phenomenon of tops and bottoms forming cyclically is a widely held belief in investing. Both stock markets and economies are believed to experience periods of expansion, marked by increased economic activity and rising stock market prices, and contraction, during which the stock market prices decline, and economic growth slows. What’s particularly interesting about Bitcoin is its consistent pattern of forming its tops and bottoms roughly every four years. The ‘halving theory’ is a popular explanation for this observed pattern. Related Reading: Is Bitcoin Forming A Double Bottom? Here’s What Needs To Happen The Halving Theory Approximately every four years, Bitcoin undergoes a ‘halving’ event, during which the reward for mining new blocks (i.e. the new supply of Bitcoin) is halved. This mechanism ensures the scarcity of Bitcoin, which is capped at a maximum supply of 21 million coins. A simple economic principle suggests that prices rise when supply drops while demand stays constant or grows. Historically, Bitcoin has reached a new peak a year after each halving. Given that the next halving is projected to be in April 2024, it aligns with the chart above, showing the next Bitcoin peak to be around the end of 2025. Related Reading: Glassnode Co-Founders Weigh In On Bitcoin (BTC) Path To $30,000 Next Bitcoin Peak – Will This Time Be Different? While historical data points provide valuable insights into the potential future performance of an asset, it’s crucial to understand that history does not always exactly repeat itself – it often rhymes. This suggests that while certain patterns from the past might re-emerge, they don’t necessarily play out in the same way. Various factors, such as technological advances, macroeconomic conditions, and regulatory changes, can introduce differences. In the current market scenario, Bitcoin is navigating through a high-inflation and high-interest-rate environment for the first time. These conditions can lower market liquidity as investors might have reduced capital available for investment. Additionally, faced with such an environment, many investors could turn to savings or bonds, which may present more attractive and stable returns than other assets. Investment Disclaimer: The content provided in this article is for informational and educational purposes only. It should not be considered investment advice. Please consult a financial advisor before making any investment decisions. Trading and investing involves substantial financial risk. Past performance is not indicative of future results. No content on this site is a recommendation or solicitation to buy or sell any securities or cryptocurrencies. Featured image from iStockPhoto, Charts from TradingView.com Predycto is the author of a cryptocurrency newsletter. Sign up for free. Follow @Predycto on Twitter.

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Comparisons in the crypto market are not out of the norm, especially given the fierce rivalry that goes on between two or more tokens at a time. So this report will take a look at where the price of Dogecoin will realistically be if the meme coin’s market cap were to reach the current market cap of Bitcoin or Ethereum. Dogecoin With The Market Cap Of Bitcoin Bitcoin, the world’s largest cryptocurrency, has a market cap of $521 billion. This is over 2x the market cap of the second-largest cryptocurrency Ethereum, and makes up around half of the total crypto market cap. While this is interesting, a more interesting fact is where the price of Dogecoin would be if it were to reach the market cap of Bitcoin. Related Reading: Ethereum Surges Ahead Of Bitcoin In Active Addresses, What Does This Mean? CoinGecko’s Coin Comparison feature allows users to input two different cryptocurrencies and show how much one would trade for if they had the market cap of the others. Using this feature, NewsBTC has been able to determine how much a single DOGE token would be at a market cap of $521 billion. DOGE would trade at $3.70 with Bitcoin’s market cap | Source: CoinGecko A single DOGE token at such a market cap comes out to $3.70 per token, an over 59x (5,900%) increase from its current price. Inversely, Bitcoin at the $8.8 billion market cap of Dogecoin would put each BTC at a price of $448. Where Will DOGE Trade With Ethereum’s Market Cap Ethereum is currently the second-largest cryptocurrency in the space with a market cap of $196 billion. With this market cap, the price of Ethereum’s nice ETH token is sitting at $1,635 with a circulating supply of 120,225,429 ETH. Now, using CoinGecko’s Coin Comparison feature and checking the price of where Dogecoin would be if it reaches the $196 billion market cap of Ethereum, it comes out to a $1.39 price point for the meme coin. DOGE would trade at $1.39 with Bitcoin’s market cap | Source: CoinGecko From its current price of $0.06192, it comes out to a 22x or 2,200% move. On the flip side, Ethereum falling to the market cap of DOGE at $8.8 billion would see the digital asset’s price trade at just $72.53, a long way from its present value. Related Reading: Litecoin Eliminates Pre-Halving Gains As Volume Drops, Is A Fall To $50 Coming? The price differences between the cryptocurrencies mentioned at the same market cap come down to their circulating supply. Dogecoin has a circulating supply of over 141 billion DOGE compared to 19.48 million BTC for Bitcoin and 120 million ETH for Ethereum. DOGE price at $0.06 with $8.8 billion market cap | Source: DOGEUSD on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from CoinMarketCap, chart from TradingView.com

An Ethereum initial coin offering (ICO) participant and one of the earliest supporters of the smart contract platform has moved 6,000 ETH worth $9.96 million to Kraken, a cryptocurrency exchange, recent data from Lookonchain on September 18 reveals. The unidentified whale received 254,908 ETH when each traded for 40.31 during the crowdfunding in 2014. This amount is currently worth over $466 million at spot rates. Ethereum Whale Transfers Over $9.96 Million To Kraken The anonymous nature of public blockchains, including Ethereum, makes it harder to decipher the owner’s identity. Determining whether an entity or an individual controls the address is also more complex.  Whale transfers to a crypto exchange are usually considered bearish since the ramp provides an easier swapping option for token holders to cash out. Typically, crypto whales have the potential to impact the market due to the sheer size of their holdings. Accordingly, their trading decisions can influence prices, increasing volatility. Therefore, the recent deposit to Kraken may suggest that the whale plans to sell, taking a profit. Related Reading: Coinbase’s BASE Shows Teeth As TVL Nears Solana On the brighter side, the whale could be moving their coins via an intermediary, in this case, Kraken, before transferring them to other platforms like Rocket Pool or Lido Finance for staking.  In the current proof-of-stake consensus algorithm used by Ethereum, whales can earn annual staking rewards if they lock at least 32 ETH. While the whale can set up a node and stake, liquidity staking providers like Rocket Pool allow users to stake coins and earn staking rewards using their infrastructure.  As of September 18, there are over 804,000 validators, that is, users who have locked at least 32 ETH operating an Ethereum full node. Cumulatively, over 25.7 million ETH have been locked. ETH Prices Recovering As of this writing, the transfer on September 18 is amid the broader recovery in the crypto market. Of note, Ethereum (ETH) prices are up roughly 6% from September lows. Overall, supporters are bullish, expecting more growth in the days ahead. The pump also means bulls have reversed some of the losses of September 11, and the current formation may anchor the next leg up that could propel the coin above $1,750, or August 29 highs, and later peel back sharp losses recorded on August 17.  Related Reading: This Bitcoin Metric Continues To Retest Bear-Bull Junction, Will A Break Happen? From the candlestick arrangement in the daily chart, ETH remains under pressure, dropping 23% from 2023 highs of around $2,140. However, since bears didn’t reverse losses of the June to July leg up, buyers have a chance following the rejection of lower lows from around the 78.6% Fibonacci retracement level of the Q3 2023 trade range. Presently, the September and August 2023 lows remain critical support levels for ETH, with the retest of August 17 lows on September 11 causing concern for optimistic traders.  Feature image from Canva, chart from TradingView

A huge mistakes that people often make is looking at their favorite crypto in their fiat value. The X to BTC Ratio is a better way to look at your portfolio, it is the value of an asset relative to Bitcoin, it allows you to see how your bags are performing relative to simply holding…
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The commissioner said she had seen awareness and knowledge of digital assets grow in her five years at the SEC, but largely, there was “more of the same” on enforcement actions.