Tuesday 4 October 2022
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Why The IMF Thinks The Crypto Market Could See “Further Selloffs”

The crypto market is trading in the green with Bitcoin and Ethereum pushing beyond critical resistance levels. The first and second cryptocurrencies by market capitalization record a 10% and 15% profit in the last day and seem poised for more profits during today’s trading session. Related Reading | Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump In order to get more clarity in terms of direction, Bitcoin must close the daily candle above $23,000 and Ethereum above $1,700. Data from Material Indicators records a thing order book on the sell side if BTC’s price can push above its current levels with high probabilities of hitting $28,000 in the short term. If this rally can push past $25k, then $28k comes into focus very quickly. If you are long, don’t forget to take profits along the way. When the bear wakes up from hibernation he’s going to be hangry. pic.twitter.com/YGe4Swu3wT — Material Indicators (@MI_Algos) July 28, 2022 In longer timeframes, macro-economic conditions will remain an obstacle to any sustainable rally. In that sense, Tobian Adrian, Director of Monetary and Capital Market for the International Monetary Fund (IMF) predicted more losses in the nascent asset class. In an interview with Yahoo Finance, Adrian spoke of the risk for the crypto market and risk-on assets, like stocks. For digital assets, Adrian believes that the collapse of a stablecoin could fuel another leg down. The IMF official said: There could be further failures of some of the coin offerings — in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail. The IMF official referred to the collapse of the Terra (LUNA) ecosystem. This event led to the downfall of Three Arrows Capital, Celsius, and other companies in the crypto industry. Thus, contributing to the crash in the price of Bitcoin and other cryptocurrencies. Adrian claims digital assets might face another similar event but doesn’t mention a specific project with the size of Terra that could trigger it. The IMF official believes stablecoins might add to the selling pressure in the nascent industry due to the alleged vulnerabilities in its collateral: There’s some vulnerability there, because they’re not backed one to one. [Some fiat-backed stablecoins] are backed by somewhat risky assets…it is certainly a vulnerability that some of the stablecoins are not fully backed by cash-like assets. BTC’s price with important gains on the 4-hour chart. Source: BTCUSDT Tradingview Will The Crypto Market Collapse If There Is A 2008 Like Recession? In addition to the alleged risk from stablecoins, the IMF official spoke about the potential risk of economic recession. The U.S. recently reported its second consecutive quarter with a negative GDP, which should technically spell economic recession. However, Adrian ruled out that the global market would see something like in 2008. At that time the financial sector was exposed to “shadow ba..

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Crypto Firm Socios.com Announces Partnership With Football Star Lionel Messi

The foray of crypto players into the sports space has been obvious and quite fast-paced. It is no surprise that crypto seems to have found a natural home in this arena given it is a fan-driven space. That has been behind the success of many fan tokens in the past months. Fan Token is a token created by crypto firm Socios.com which has been favorably received by both sports and crypto fans around the world. This time around, Socios.com has taken this one step further with a new partnership. The company recently announced that it was partnering with football star Lionel Messi. This new partnership has opened up new horizons for crypto and sports fans and what they can do with these tokens. Building The Future Of Crypto In a recent announcement posted to its website, Socios.com officially welcomed Lionel Messi aboard the ship. The footballer is taking part in a campaign as a brand ambassador with the slogan “Be more”. This aligns with what Socios.com states as its agenda going forward. It explains that with the new partnership, they hope “to build a more inclusive, exciting and rewarding future for fans across the world.” Related Reading | Data Shows Bitcoin Investors Afraid To Take Risk As Leverage Remains Low Lionel Messi who is a brand in himself is no doubt an excellent addition to the Socios.com brand. With multiple world records to his name, the footballer is loved by millions of adoring fans all over the world. It is obvious that Socios.com is looking to tap into this immense fan base and pull millions more into crypto through the footballer’s fame. Socios.com revealed that the partnership with Messi would be for an initial period of three years. This wording leaves room for interpretation meaning that Socios.com may have plans to extend its partnership with the footballer at the end of this three-year period. Crypto market cap touches $2 trillion | Source: Crypto Total Market Cap on TradingView.com As for Lionel Messi, he states his reasons for the partnership to be for fans to get the recognition they deserve for their support of the sport. One of these ways is being able to have a say in what their favorite teams do by being involved in these fan tokens. “Since I played my first professional game the passion of the fans has been a driving force that has helped inspire me to be my very best. Fans deserve to be recognized for their support. They deserve opportunities to influence the teams they love,” Messi said. “Socios.com exists to enhance the fan experience, to enable fans to ‘be more’. I’m proud to join Socios.com’s mission to create a more connected and rewarding future for fans around the world.” As for Socios.com, it is a welcome development which Alexandre Dreyfus, CEO of Socios.com, explained. He added that the company is trying to make fans feel valued and that their support of the players/game matters. Related Reading | Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion “We are delighted to announce Lio..

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Possible Timelines For Bitcoin To Hit $100k: Why CEOs See Bullish Signs

After bitcoin broke above the $45k resistance level reaching the $48k mark, it has retested the $45k level. Some analysts still expect a rise to above $50k, others have abandoned their bullish approach. Meanwhile, leading CEOs from Pantera Capital and Skybridge Capital remain positive that the coin will reach the $100k mark in a period of one to two years. Bitcoin trading at $45,754 in the daily chart | BTCUSD on TradingView.com Pantera Capital CEO Is ‘Wildly Bullish’ In an interview with Yahoo Finance, the CEO of Pantera Capital Dan Morehead commented on Bitcoin’s price action so far in the year. Morehead noted that within the history of Bitcoin cycles, it’s had six previous bear markets that average about 60%, and 2022’s has been 50%. In his opinion, the bitcoin cycles will begin to moderate thanks to large institutional engagement, and “a 50% bear market is probably all you’re going to get going forward.” “I think we’re either at the lows or very close to it.” Morehead said he is “wildly bullish right now” because he believes that Bitcoin and the asset classes will decouple, noting that the high correlation that usually happens during periods of stress –similar to 2022’s turmoil– eventually breaks, usually after a 72-days average. “I think stocks and bonds may keep going down potentially for years, whereas blockchain assets can go up.“ Morehead accepted that Pantera Capital failed to predict how fear over the Fed’s rates rising would affect the crypto market, but believes that “in this case, the markets have it wrong, and blockchain will decouple from the other asset classes.” “If you think about it, with rates rising, that is mathematically negative for bonds. It also has a negative impact for anything else with discounted cash flows like equities or real estate, but blockchain’s totally independent of rates.” In his forecast, Morehead expects that six months from now bitcoin will be back to the typical 2.5X yearly growth that it’s been doing for 11 years. If so, then in a year Bitcoin could be worth about $100,000 per coin. Scaramucci Sees a $500k Bitcoin Similarly, in an interview with CNBC, the CEO of Skybridge Capital Anthony Scaramucchi predicted again that “Bitcoin will hit $100k in the next two years” based on adoption growth. Scaramucchi quotes Glassnode claiming that “there’s probably 245 million wallets out there or accounts related to Bitcoin,” while in October-November of 2020 there were about 85 million wallets. The CEO believes the growing adoption turns into people being more confident in the coin. “Somebody like Cathie Wood would say to you, a billion wallets, Bitcoin could easily trade to $500,000 a coin.” While Scaramucchi’s predictions from 2021 were not spot on, he accepts that he failed to anticipate the Russo-Ukrainian war and the elongation of COVID, but he sees no reason for Bitcoin not to hit the $100K mark within two years “given the way it’s scaling globally” and its many use cases. Related Reading | Wil..

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Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to close 2021 only just made it over 30% by comparison. The quarterly RSI bounced off the moving average | Source: BTCUSD on TradingView.com By those standards, bulls might still have the upper hand. It also helps that unlike past bear markets, the quarterly Relative Strength Index was able to hold above the RSI-based moving average. A full year Bitcoin has held above these lines | Source: BTCUSD on TradingView.com Additional comparison with past bear markets using the Ichimoku show that after each major cycle peak, both the conversion line and base line were immediately lost during the next opening quarterly candle. Bitcoin price holding above these important indicator lines for a full year should confirm it has strong support. It also spent a year above the middle-band above | Source: BTCUSD on TradingView.com Donchian channels, which act as an envelope around price action, also demonstrate similar bullish behavior compared to previous cycles. Even the 2019 stopped precisely at the middle band. The past several quarters were able to hold above the key level. Price action is above the Super Guppy bands | Source: BTCUSD on TradingView.com The quarterly Super Guppy suggests that Bitcoin price wicked into the several layers of support, and was able to hold above the highest most line. The retest-type situation could lead to a push higher. Has Bitcoin bottomed? CMF might suggest it has | Source: BTCUSD on TradingView.com Holders hoping for a bottom might have already witnessed the worst. The quarterly Chaikin Money Flow reached a low at nearly the same extreme as the 2018 bear market bottom. Bitcoin price plunged 50% after already falling from $20,000 to $6,000 causing widespread capitulation across the crypto market. Related Reading | This Bitcoin “Heatmap” Suggests A Blazing Cycle Peak Is Still Ahead Similar capitulation might have been achieved across two large peaks and more than 50% corrections each, at a slower grind than past corrective phases. Considering thi..

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Bitcoin Almost Hits $44,000 With Terra $125 Million BTC Purchase Tempo Up

Since Jan. 24, Bitcoin has been rising above an ascending support line. Thus far, the cryptocurrency has confirmed the line many times, and the subsequent rebound has resulted in the continuous upward movement. The price is rapidly approaching the $44,000 horizontal resistance line, which BTC has not traded above since the first week of January. Wednesday’s price decline was brief, as bitcoin surged to a fresh three-week high above $43,000. The majority of altcoins have also entered the green zone, led by Dogecoin, Shiba Inu, Cardano, and NEAR Protocol. Bitcoin Gathers Momentum It was less than a week ago that the world’s most valuable cryptocurrency landed at just over $40,000, and the community was fearful that the commodity might go below that coveted threshold. However, the situation immediately shifted, and Bitcoin began an incredible run that culminated in a price of $42,000-plus. Following that, a minor pullback dropped bitcoin down to $41,000. Nonetheless, the bulls rallied and drove BTC higher. For the first time since March 4, the cryptocurrency reached and momentarily notched over $43,000 this time. Related Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? BTC Firm Despite Pressure As a result, bitcoin is presently about 5% higher than it was last week at this stage, despite recent price volatility. The BTC/USD pair attempted to crack and secure its highest levels in weeks Thursday, according to data from TradingView. The pair had consolidated the previous day, with lower timeframe sideways activity giving way to a “grind” upwards that drove Bitcoin to near the $44,000 – a level not seen since March 3. Suggested Reading | Fed Chair Powell Says Crypto Requires New Rules, Citing ‘Threats’ To US Financial System Crypto total market cap at $1.68 trillion on the daily chart | Source: TradingView.com Terra, which had gained notice because to its aspirations for a massive $10 billion BTC allocation, was said to have transmitted Tether (USDT) from an alleged wallet valued at about $750 million at the time of writing. Do Kwon, Terra’s co-founder, initially stated a target of $10 billion for backing the firm’s new US dollar stablecoin, followed by $3 billion in a weekend interview, but confirmed on Tuesday that the final crosshair was $10 billion. Crypto Traders Upbeat Despite the apparent inflow of liquidity, the atmosphere among traders was leaning toward confidence, as was the spot price. Credible Crypto, a popular Twitter account, specifically targeted people looking to buy in at prices below $40,000. “Sub 40k $BTC sellers sweating at the moment as $125 million chunks of fiat are being deployed into BTC 10% higher than where they sold.” Meanwhile, bitcoin has retraced approximately a few hundred dollars and is now trading around $42,000. It resumed the strong push hours later and is currently trading near $43,000, having reached a new three-week high earlier in the day. Featured image fro..

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Fed Chair Powell Says Crypto Requires New Rules, Citing ‘Threats’ To US Financial System

Federal Reserve Chairman Jerome Powell emphasized on Wednesday that technology transformation is here to stay in the financial sector and that new regulations will be required. Powell revealed some insight into how the United States would govern the market during a presentation at the Bank of International Settlements Innovation Summit on central bank digital currencies. The digital age was not taken into consideration when establishing our current regulatory structures, the Fed official said. “There will be revisions to current laws and regulations, as well as the creation of wholly new rules and structure, if central banks, stablecoins, and digital currencies are to be implemented,” he said during a roundtable discussion on CBDCs at the BISI Summit. Is There A Threat? Powell noted that emerging forms of digital money, like cryptocurrencies and stablecoins, pose threats to the US financial system and will necessitate the adoption of additional consumer protection measures. Powell reaffirmed his position that cryptocurrency should adhere to the “same activity, same regulation” premise. He proposed regulating stablecoin issuers, such as banks, in October 2021. “Stablecoins function similarly to money market funds. They’re similar to bank deposits… and it is reasonable for them to be controlled similarly, same activity, same regulation,” he concluded. Powell Says DeFi Can Improve Finance Sector Despite this, the Fed chairman acknowledged that distributed technology and DeFi have the potential to improve the payment system’s efficiency and foster a more competitive financial sector. This is an impressive recognition from the director of one of the country’s premier financial institutions. Other agencies and their personnel have embraced crypto and blockchain technology as well, albeit they all appear to advocate for some level of regulation. Crypto total market cap at $1.94 trillion on the daily chart | Source: TradingView.com Suggested Reading | Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says Stablecoins are a type of cryptocurrency that are typically backed by the dollar or a commodity such as precious metal. CBDCs are digital representations of dollars or other fiat currencies that governments issue. The Fed is exdigital currencies but has not yet decided whether to issue them. In January, it published a study on stablecoins. Biden’s Executive Order US President Joe Biden signed an executive order earlier this month directing the Treasury Department and other federal agencies to conduct a study on the impact of cryptocurrency on economic stability and national security. Biden’s directive comes as many Democratic legislators, notably Massachusetts’ Elizabeth Warren, have expressed worry that cryptocurrency could be used to circumvent US sanctions against Russia. As part of the executive mandate, the Treasury is leading a report on a CBDC in consultation with the Departments of Justice, Commerce, and S..

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Small Cap Altcoins Continue To March Ahead Of Bitcoin And Ether Gains

Small cap altcoins have been one of the best performers in recent times. Even through the downtrend, these low market cap cryptocurrencies have returned better gains compared to their bigger counterparts like Bitcoin and Ethereum. They have carried this performance into another week as small cap altcoins show their profitability once more by being ahead while the rest of the market suffers. Small Cap Altcoins Stays In The Lead The previous week, small cap altcoins had been the only index returning profits while all others have been drowning in losses. It has continued this week as it remains the only index in the green with other indexes languishing in its wake. These small cap altcoins usually boost a small yet tight-knit community of supporters which often explains the consistent gains. Related Reading | LUNA to Spike 80%? Here’s What Analysts Think The monthly performances of these indexes are stark when placed side-by-side. For example, the Small Cap Index has been on the rise for the month, reaching as high as 17% in positive returns this month. However, the other indexes which consist of cryptocurrencies with much larger market caps have not been able to record the same returns, all down in the same time period. Small Cap Index is the only one in the green | Source: Arcane Research This index climbed as high as this after hovering around 0% for the days leading up to March 16th. It was at this point that the Small Cap Index had begun to pick up momentum, becoming the only index in the green. How The Bigger Indexes Have Performed Looking at the Bitcoin, Mid, and Large Cap indexes, it is obvious that smaller altcoins have been the best investment in recent times. All of these have remained in the red even after a small recovery that was recorded recently in the market. These indexes have remained below the mark of profit for the better part of the year, making them a less attractive investment option compared to the small cap altcoins. Crypto market at $1.8 trillion | Source: Crypto Total Market Cap on TradingView.com Bitcoin has been on a downtrend, recording one of the highest loss margins for all of the indexes. It recorded 5% losses alongside its counterpart, the Small Cap Index, which also saw returns in the negative at -%5. Related Reading | HubSpot Hack Results In Data Breach Of Major Companies Like Circle And BlockFi As for the Large Cap Index, it performed a bit better compared to Bitcoin and Mid Cap but still did not make it into the profit territory. It also remains in the red region with -3% recorded over the past month. Ethereum however has been one of the strongest performers and has since its market dominance gone up by1% over the past week. Relative to Bitcoin, the ETHBTC is now back above 0.07. Featured image from Coinlib, chart from TradingView.com

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LUNA to Spike 80%? Here’s What Analysts Think

Terra’s LUNA has been trending to the downside in the past few days, but different indicators show interesting signs and the next price movements could be fundamental to confirm either an extremely bullish or a bearish signal. Related Reading | LUNA Sees 17% Loss In One Week, UST De-Peg Rumors Affect Its Price? What Is Boiling Up In LUNA’s Weekly Timeframe? When an anonymous trader used Moving Average Convergence Divergence (MACD) to analyze LUNA’s next possible movements, the weekly chart showed an interesting crossover. “Something is up on $LUNA weekly timeframe. Last time the MACD crossover occured it sent $LUNA from $12 to $106.” A MACD crossover can give a bullish signal when the MACD (see the blue line in the chart below) rises above the signal line (see the yellow line). The opposite crossover would give a bearish signal, which can also be seen below in previous months as an example. LUNA’s MACD crossovers overtime | LUNAUSD on TradingView.com Another pseudonym trader noted that multiple time frames are looking good for the digital coin, which they think could be because a result of “the massive amount of BTC being bought to help support stable UST or it could be that the whole market is bubbling up” “1 hour pointing upwards, 4 and 6 hours are about to print bullish twist above the cloud (max bull signal in my mind), 12 hour and daily charts look happy enough and will likely look even nicer as Luna presses to all time highs.” 4,36 Sharpe Ratio The Sharpe Ratio is a risk/return measure highly used in finance. As per Investopedia, the Ratio describes how much excess return you receive for the extra volatility you endure for holding a riskier asset, determining the investment choice that will deliver the highest returns while considering risk. “Usually, any Sharpe ratio greater than 1.0 is considered acceptable to good by investors. A ratio higher than 2.0 is rated as very good. A ratio of 3.0 or higher is considered excellent. A ratio under 1.0 is considered sub-optimal.” Similarly, a pseudonym crypto analyst explained during a Youtube Video analyzing LUNA’s share ratio that, in general, “If you are [the Sharpe ratio] at one, it is a superb result and it means you are crushing the market, you’re beating everything out there,” and LUNA Sharpe ratio is 4.36. “It’s off the charts positive. This thing is just a beast and there’s many people calling for a $200 Luna in in the near term, but also potentially, $200 Avalanche, $200 SOL. Either way these three are kind of winners right now.” However, there are limitations when using Sharpe Ratio, as it can oversimplify risk and treat all volatility as the same. Some inflated Sharpe Ratios can turn out to be misleading if the whole story of the investments was not addressed correctly. Related Reading | What’s Behind LUNA’s Rally, Could Its Price Decouple From Bitcoin? Possible Double-Top On the other hand, there is a possibility of a double top that could be triggered if the price break..

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More Than $20 Million In Long Liquidations As Bitcoin Falls To $41,000

Bitcoin had broken above $40,000 again last week, marking the digital asset’s fifth break above this point this year alone. Given that it has been trending in its $36-$38k support level before this, traders had taken to placing their trades in anticipation of the cryptocurrency’s next movements. The digital asset had barreled towards $42,000 leaving positive sentiment in its wake but resistance at this point proved devastating for long traders. Bitcoin Long Traders Suffer Losses A recent pullback in the price of bitcoin saw a significant amount of long liquidations rock the market. Bitcoin which was expected to early break through $42,000 has met more resistance than anticipated. Bears had put up one hell of a fight at this point and in the end, the bulls had succumbed to this pressure, causing the price of the digital asset to revert back down. Related Reading | Shiba Inu Exodus: 32,000 Holders Lose Interest In The ‘Dogecoin Killer’ In the wake of this had been massive liquidations. In a single hour, bitcoin saw more than $20 million in long liquidations happen in the early hours of Monday. These liquidations ramped up as the price fell back below $42,000, eventually reaching as low as $40,889. At this point, BTC had recorded one of the highest hourly long liquidations in its history. It came out to almost $21 million in longs liquidated just as the asset fell below $41,000. More than $53 million BTC liquidated in 24 hours | Source: Coinglass In the last 12 hours as at the time of this writing, bitcoin had seen more than $31 million liquidated. Covering a wider stretch sees $53.63 million in BTC liquidated over the past 24 hours. Crypto Market Suffers Liquidations As the price of bitcoin and other digital assets in the space had turned green, investor sentiment had grown more positive. It is with this positivity that long traders have been trading. Bitcoin which had made it back above its 50-day SMA had established another bullish trend, one expected to ride through above $44K. However, as is typical of the crypto market, the price of the asset had gone back down. BTC begins another recovery trend | Source: BTCUSD on TradingView.com Naturally, the rest of the market had followed the trend of bitcoin, seeing them suffer the same fate. Although other assets did not record liquidations as high as that of BTC, they were hit by the wave nonetheless. Related Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? The second-largest cryptocurrency by market cap, Ethereum, has seen more than $5 million liquidated over the past 12 hours and a total of $27.37 million liquidated over the last 24 hours. In total, the crypto market has recorded a cumulative value of $70.13 million in liquidations in the last 12 hours. And for the last day, $167.72 million have been liquidated. Bitcoin has once again resumed its recovery trend, breaking above $41k. It is currently trading at $41,205 as at the time of this writing. Feat..

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Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum?

Bitcoin (BTC) reached an all-time high of $68,788 per coin on November 10, 2021. Since then, the world’s most sought-after cryptocurrency has experienced extraordinary volatility, and the market has appeared reactive and fragile, with the Fear & Greed Index indicating a high level of doubt and uncertainty. Since January 5, the price of BTC has fluctuated between $35,000 and $45,000, a relatively narrow range considering the currency’s track record of fluctuation. As a result, this could be the start of a long-awaited period of stabilization for the market’s top digital asset. Bitcoin Yet To Regain Previous High The flagship cryptocurrency has yet to reclaim its 2022 high of $47,800, which it achieved on January 1 and 2 — approximately three weeks before plunging to $33,183. While Bitcoin has flirted with the $40,000 mark on several occasions this year, those growth spurts have yet to prove viable. However, it has rallied once more this week. According to CoinMarketCap, Bitcoin gained approximately 6.65% in the last seven days and was trading at $41,770 at the time of this writing, surpassing the $40,000 mark on Friday. Other coins have also increased in value during the last few days. Pullback To Support Levels Seen Bitcoin’s price is edging closer to its upward limit following an almost week-long slow strut-up. As a result of the presence of many obstacles, a pullback to stable support levels for BTC is anticipated. Bitcoin’s price is encountering numerous resistance points as it approaches the $45,000 local high. A retest of the bearish breaker zone between $42,866 and $43,754 is expected to result in a downturn to $38,887 and below. BTC total market cap at $792.68 billion on the daily chart | Source: TradingView.com Related Article | Shiba Inu Exodus: 32,000 Holders Lose Interest In The ‘Dogecoin Killer’ Since January 22, the BTC price has reached three identical highs and four higher lows. These swing points can be combined to construct an ascending triangle using trend lines. This technical structure forecasts a 20% increase, calculated by adding the distance between the initial swing high and low to the $44,417 breakout point. Bitcoin Poised For Further Rally Given the current geopolitical landscape, rising inflation, interest rate increases, and rising oil prices, many industry specialists are already speculating on the Bitcoin price by the end of the year, as many people want a buffer against inflation and a safe haven asset. Bloomberg recently reported that despite a huge fall to usher in the year, Bitcoin is poised for additional price gain. Ethereum Nears $3K Meanwhile, Ethereum (ETH) gained ground on Friday following a wild week. Ethereum has rallied up to 5% in the last 24 hours, closing in on $3,000 for the first time in two weeks. Ether’s growth is partly a result of efforts toward the mainnet integration of the Ethereum blockchain and the Beacon Chain. Related Article | Ethereum Sees Biggest Exchange Withdrawals T..

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