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This year, Bitcoin has had quite a good run. It achieved its highest peak price of $73,737 thanks to the highly successful debut of its EFTs in March. However, recently, BTC has been on a downward trend, failing to maintain its bullish momentum.  Now priced at a little over $57,000, this shows the crypto's declining trading price. This price drop of the world's most capitalized cryptocurrency has negatively impacted the crypto market.  JPMorgan has been a closely followed voice in discussions on digital currencies for years. Their latest warning about the coin's underwhelming performance lately comes when the crypto market faces uncertainty.  Here's more on that warning and what this means for other cryptos, including FLOKI , PEPE , and RCOF .  Is the Bull Run Really Over?  The answer depends on who you ask. Some experts side with JPMorgan, stating that despite trying for the past three months, Bitcoin's price has dropped recently, trading at $54,0...

Despite the rather unimpressive start to the year, JPMorgan has stated its expectation for a “limited downside” for Bitcoin (BTC). Indeed, after the price of the digital asset failed to respond positively to Spot Bitcoin ETF approvals to start the year, many have expressed concern. However, the financial firm has shared a positive outlook regarding the asset in a research note that was published this week. Specifically, its Analysis has featured a focus on the dynamics of Grayscale Bitcoin Trust (GBTC) and the other Spot Bitcoin ETFs in the United States. Also Read: US Government to Sell $130M Worth of Bitcoin From Silk Road JPMorgan Still Positive on Bitcoin Despite 2024 Start At the end of 2023, the digital asset industry was infused with incredible optimism. Indeed, the arrival of Spot Bitcoin ETFs was expected in 2024’s first week. Subsequently, many have viewed those approvals as a catalyst for the industry at large. However, just one month into the ...

In a move that is certainly groundbreaking for the overarching digital asset market, the Switzerland city of Lugano has officially begun accepting Bitcoin (BTC) and Tether ( USDT ) for taxes. Specifically, the city unveiled the project this week that will begin a transformation of its financial structure. The official announcement states that the city has “broadened its payment options” to include the popular cryptocurrencies. Moreover, it states that these digital assets can be used to pay taxes, and other municipal services,” that the city may implore. Additionally, these payments are set to be made through a “fully automated process, utilizing Bitcoin Suisse.” Also Read: Why is Bitcoin (BTC) Rising Today? Explained Switzerland City Accepting Bitcoin and USDT For Community Fees Throughout the year, Bitcoin has seen a rapid ascension in the greater financial sector. Indeed, the digital asset has long dominated its market, but the year has seen ...

Discussing its positive performance in recent days, CNBC has stated that Bitcoin (BTC) is set to become the first asset in history that is “more scarce than gold.” Indeed, the Fast Money program discussed the upcoming halving and the rarified position of the world’s most prominent digital asset. Bitcoin has exceeded $42,000 for the first time in over a year, with many speculating that the price is bound to continue surging. Specifically, CNBC noted that the anticipated halving event will affect the “stock to flow ratio,” which will mean less Bitcoin than gold is mined on a relative basis. JUST IN: CNBC says #Bitcoin is the first asset in history "that is more scarce than gold." pic.twitter.com/NILjoeYzzQ — Watcher.Guru (@WatcherGuru) December 5, 2023 Also Read: Bitcoin: BlackRock Received $100K As Spot BTC ETF Seed Fund Bitcoin Halving Will Make it First Aset in History to be “More Scarce Than Gold” For much of this year, B...

Twitter founder Jack Dorsey has once again seemingly embraced digital assets as he has made a sizeable investment into a decentralized Bitcoin mining firm. Indeed, the co-founder of the platform now known as X led a $6.2 million funding round for the parent company of mining pool Ocean. The firm is working to enable miners to get block rewards from Bitcoin itself. Dorsey is a well-known name in the tech space, mostly for his creation of Twitter. The social media platform became one of the most popular in the world under Dorsey’s direction. Yet, he sold the platform to Elon Musk in 2022 and has begun to carve out a space for himself within the digital asset sector. Also Read: Comparing Jack Dorsey ’s Block vs. Elon Musk’s PayPal For Q2 2023 Jack Dorsey Makes Big Investment Into Decentralized Bitcoin Mining The digital asset industry has long been a leader among the plethora of tokens available to consumers. However, the distance has begun to extend even further, as Bit...

Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely to attract buyers as the bulls will want to maintain the momentum going into the final month of the year. The bears are likely to have other plans as they will attempt to deepen the correction. That could boost volatility in the last few days of November as both the bulls and the bears try for a monthly closing in their favor. Daily cryptocurrency market performance. Source: Coin360 While near-term uncertainty remains, Rich Dad Poor Dad author Robert Kiyosaki reiterated his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twit...

Bitcoin is facing resistance at $38,000, but UNI, IMX, VET and ALGO may extend their up-move in the short term. Bitcoin (BTC) rose above $38,000 on Nov. 24, but the bulls could not build upon this strength. This suggests hesitation to buy at higher levels. Bitcoin is on track to form a Doji candlestick pattern on the weekly chart for the second consecutive week. This signals indecision among the bulls and the bears about the next directional move. With Bitcoin maintaining near its 18-month high, BitMEX co-founder Arthur Hayes retained his bullish stance. In a X (formerly Twitter) post, Hayes said that the United States dollar liquidity was increasing, which is likely to push Bitcoin higher. Crypto market data daily view. Source: Coin360 Another bullish projection came from PlanB, creator of the stock-to-flow family of BTC price models, who said in a post on X that Bitcoin may not stay at the current levels for long. PlanB expects Bitcoin to maintain an average price of at least $100,...

The latest Cointelegraph Report explains everything you need to know about a potential spot Bitcoin ETF approval in the U.S., its impact on the market, and its significance for the crypto industry. A wave of optimism around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has ignited bullish price action in the crypto market in recent weeks.  But that could be just the beginning: If a spot Bitcoin ETF receives a greenlight by the U.S. Securities and Exchange Commission (SEC), it would mark a major milestone in the history of digital assets. The spot Bitcoin ETF will provide institutional investors with a simple and regulated way to get exposure to Bitcoin with potentially explosive consequences for the Bitcoin market. According to many analysts, a spot Bitcoin ETF could spark a demand shock that, coupled with next year's Bitcoin halving event, could spark the new crypto bull market. The SEC has so far rejected all spot Bitcoin ETF applicat...

Although 2023 has certainly been a positive for the digital asset industry, last year did not fare the same. Subsequently, with positive moments abounding this year, we take a look back at the performance of the industry’s most prominent asset. Specifically, we observed the Bitcoin (BTC) price on Black Friday 2022. The primary story of 2022 was the collapse of FTX, one of the largest failures the industry had ever seen. Therefore, a host of tokens sported poor performances throughout the tail end of the year. Subsequently, 12 months removed from that, the upcoming Thanksgiving should present a different story. Conversely, a look at the price of Bitcoin during the important American holiday is an important historical observation that could hold even more information. Also Read: Shiba Inu Price on Thanksgiving 2022 Bitcoin Price on Black Friday 2022 Since the inception of cryptocurrencies, Bitcoin has remained the market’s most prominent. Even now, the entire industry ha...

In a recent filing for a spot Bitcoin ETF, BlackRock, the world’s largest asset manager, has highlighted the indirect risks posed by stable coins, emphasizing the nuanced complexities of the crypto market. BlackRock, the world’s largest asset manager, has made headlines with its application for a spot Bitcoin Exchange-Traded Fund (ETF). The application, keenly awaited by the digital asset sector, includes a notable mention of stablecoins as a risk factor, an aspect that has drawn considerable attention. JUST IN: BlackRock says USDT & USDC stable coins pose risks to #Bitcoin. — Watcher.Guru (@WatcherGuru) November 14, 2023 You might also like: BlackRock prepares to file spot Ether ETF Stablecoins, digital currencies like Tether USD (USDT) and Circle USD (USDC), are designed to maintain a stable value as they are pegged to traditional currencies. In its filing, BlackRock highlights that while the ETF does not directly invest in stablecoins, there ex...

Over 81,000 wallet addresses now hold $1 million or more worth of Bitcoin. The number of crypto wallet addresses holding more than $1 million in Bitcoin (BTC) has more than tripled this year.  BitInfoCharts data shows the number of addresses with more than $1 million in BTC increased from 23,795 on Jan. 1 to 81,925 currently, a 237% increase in the last 11 months. Currently, 81,925 wallet addresses hold more than $1 million in BTC. Source: BitInfoCharts The million aire wallet s are not one-to-one with individual users as many addresses with more than $1 million BTC belong to crypto exchanges and financial institutions. Comparative data from Glassnode shows the number of addresses holding more than $1 million in Bitcoin peaked during the top of the last bull market in November 2021, posting a record 112,573 addresses on Nov. 9, 2021, the day before Bitcoin notched its all-time high of $69,000 on Nov. 10, 2021. The number of “millionaire” Bitcoin wallets has grown more than 237% fr...

Into The Cryptoverse CEO Benjamin Cowen recently discussed Ethereum’s (ETH) performance in relation to Bitcoin’s (BTC) dominance as the flagship digital asset. In a recent YouTube video, Cowen suggests a continued rise in Bitcoin dominance (BTC.D), indicating that Ethereum may lag behind and show smaller gains compared to BTC.  Cowen explains that his crypto portfolio has predominantly held more Bitcoin because he anticipates that BTC will outperform numerous assets, though not all.  Additionally, Cowen notes that Ethereum against Bitcoin (ETH/BTC) is encountering substantial resistance after falling below the trendline and attempting a retest. You might also like: Bitcoin and Ethereum outperform traditional assets in 2023 A BTC rally would result in the breakdown of Ether-Bitcoin, he explained. He pointed out how the ETH/BTC pair finally broke the wedge to the downside, highlighting that it’s akin to what happened in the last cycle. As ...

Ethereum gas fees reportedly breached the $200-mark for certain high-priority transactions in the last 24 hours. A recent spike in transaction fees on Ethereum and Bitcoin appears to have reignited the debate around solutions for scalability and the role of layer 2s. Over the last 24 hours, cryptocurrency users began sharing screenshots showing double, occasionally triple-digit transaction fees on Ethereum and Bitcoin. One screenshot showed gas fees were as high as $220 for a high-priority transaction on Ethereum while other screenshots showed figures around the $100 mark. Bitcoin users meanwhile, reported fees that were around $10 for high-priority transactions. While this is relatively low, the average Bitcoin (BTC) transaction cost has hovered around $1 over the last three months, according to BitInfoCharts. BTC fees haven’t been this high since May. #Saitama #SaitaRealty To Add to Below Post This isn't even Height of Bull Run Already #ETH Gas Fees are Extortionate $175.79 T...

HSBC has partnered with Ripple-owned tech firm, Metaco, to allow institutional investors hold tokenized securities on its new custody platform. HSBC has partnered with Ripple-owned tech firm, Metaco, to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8. The bank expects to roll out the new digital asset custody service in 2024, complementing its digital asset issuance platform known as HSBC Orion and HSBC offering for tokenized physical gold, launch ed on Nov. 1, 2023. Together, the services form a complete digital asset offering for HSBC’s institutional clients, the firm said. Major global banking company HSBC is planning to launch an institutional custody platform for tokenized securities, also known as security tokens. This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/hsbc-taps-ripple-s-metaco-to-launch-security-token-custody-...

Block, Inc. reported a significant 37% increase in Bitcoin revenue in Q3 2023, reaching $2.42 billion, with an overall net revenue boost of 24% to $5.62 billion year-over-year. Block, Inc., spearheaded by Jack Dorsey, has made headlines with a notable 37% surge in Bitcoin (BTC) revenue in Q3 of 2023, amassing $2.42 billion as opposed to the $1.77 billion reported in the same quarter of last year. This leap in revenue is paralleled by a 22% increase in Bitcoin gross profit, escalating from $37 million in Q2 2022 to $45 million in Q3 2023. The uptick in revenue stems from two key factors: a higher average market price of Bitcoin and a spike in the volume sold through Block’s Cash App. Such growth indicates a robust customer demand within Block’s ecosystem. Additionally, Block has witnessed an appreciation in its corporate treasury’s Bitcoin holdings. Despite cumulative impairment charges, the carrying value of its Bitcoin investment reached $102 million, whereas...

Roman Storm’s lawyer Brian Klein said the developer was released on bail on Aug. 24, the day after the U.S. DOJ announced the charges related to money-laundering and other alleged violations. Roman Storm, the co-founder of the cryptocurrency mixing service Tornado Cash who was arrested on money-laundering and other charges on Aug. 23,  was released on bail soon after he was detained by the United States’ Department of Justice (DOJ), his lawyer said. Storm’s lawyer Brian Klein took to X (formerly Twitter) on Aug. 24 to announce that Storm has been released on bail. Klein noted that he still remains “very disappointed” about the fact that the prosecutors charged the develop er just because he helped to develop software. He added: “Their novel legal theory has dangerous implications for all software developers.” The bail came the next day after the U.S. DOJ announced the arrest of Storm alongside the charges against Tornado Cash founders, Storm and Roman Semenov, on Aug. 23. The U.S. ...