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The stars are lining up for Bitcoin price, but a few major price threats remain in play. Bitcoin (BTC) price surged by 26.5% in October and several indicators hit a one-year high, including the BTC futures premium and the Grayscale GBTC discount.  For this reason, it's challenging to present a bearish thesis for BTC as data reflects the post-FTX-Alameda Research collapse recovery period and is also influenced by the recent increase in interest rates by the U.S. Federal Reserve. Despite the positive indicators, Bitcoin price still remains around 50% below its all-time high of $69,900 which was hit in November 2021. In contrast, gold is trading just 4.3% below its $2,070 level from March 2022. This stark difference diminishes the significance of Bitcoin's year-to-date gains of 108% and highlights the fact that Bitcoin's adoption as an alternative hedge is still in its early stages. Before deciding whether the improvement in Bitcoin futures premium, open interest and the G...

Popular cryptocurrency YouTuber CryptosRUs predicted in a recent video that Bitcoin (BTC) is on the verge of another major rally. In the Oct. 31 video, CryptosRUs pointed to increasing institutional interest and adoption as reasons why Bitcoin may be poised for significant gains. He highlighted the numerous spot Bitcoin ETF filings by major financial firms like BlackRock and Valkyrie as evidence that big investors are preparing to enter the market. The YouTuber also noted the record amount of money the U.S. Treasury plans to borrow in Q4 2023 — $776 billion. He suggested this excessive money printing could drive further adoption of Bitcoin as an inflation hedge. You might also like: Bitcoin trading volume reaches maximum in six months In addition, CryptosRUs cited billionaire investor Stan Druckenmiller’s recent comments that Bitcoin could be a good investment for millennials. Druckenmiller said he doesn’t own any crypto currently, but conceded Bitcoin has br...

Reports cite the increasing illegal use of stablecoins like USDT in Pakistan. Stablecoins are used as an alternative to hawala or hundi systems. Despite growing crypto adoption, remittances declined, revealing the informal use of the tokens. Amidst the growing ad option of cryptocurrencies and stablecoins, threats and risks surrounding these assets are also ascending at a similar pace. According to the latest reports, stablecoins like Tether (USDT) are increasingly used in illegal trading and transactions in Pakistan. Reports suggest that the cryptic nature of the stablecoins makes it difficult to track them, enabling people to trade them informally, especially using them as a means of hawala or hundi trade. According to the Foreign Exchange Management Act (FEMA), hawala and hundi systems are considered illegal in Pakistan. While Pakistan boasts a potential $40 billion in crypto remittances, the yearly Analysis indicated a massive decline. In 2022, the ...

The market for options related to Ethereum (ETH) saw a significant increase in the trading of call options, with over 140,000 contracts traded on Oct. 30. These numbers indicate bullish sentiment among prominent investors. Bullish sentiment among investors According to the Oct. 30 post from Greeks Live, the solution provider for crypto options traders, the majority of these transactions involved active buying of monthly options in the 1650/1700/1800 range set to expire on Nov. 24. The ETH options market saw huge volumes of call block today, with over 140,000 traded with a notional value of over $250 million . Most was active buying of monthly options at the 1650/1700/1800-24Nov. Such large-scale active buying of ITM options is certain to be a stop-loss… pic.twitter.com/RAkQlBVtQ0 — Greeks.live (@GreeksLive) October 30, 2023 The post goes on to state that put sells have increased 6.28 percent and put buys have increased 6.11 percent, at the same time that call sells ha...

The UN scientists evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global Bitcoin mining network consumed 173.42 Terawatt hours of electricity. A recent study conducted by the United Nations (UN) suggested a direct correlation between the price of Bitcoin (BTC) and the energy needed for mining operations. The UN scientists evaluated the activities of 76 Bitcoin mining nations during the 2020–2021 period and found that the global Bitcoin mining network consumed 173.42 Terawatt hours of electricity. During this timeframe, the crypto ecosystem was undergoing a bull run, and Bitcoin rallied to mark its all-time high of $69,000. The UN report highlighted: “A 400% increase in Bitcoin’s price from 2021 to 2022 triggered a 140% increase in the energy consumption of the worldwide Bitcoin mining network.” At the time, fossil energy sources accounted for 67% of the electricity generated for Bitcoin mining. However, crypto entrepreneurs have ...

In an Analysis shared by market analyst EGRAG on X, he predicts a XRP rally in the beginning of next year. This surge has the potential to push the cryptocurrency to reach the $27 price mark, signifying a significant increase of approximately 4,853% from its current value. EGRAG’s projection, outlined in a recent Analysis of XRP, draws upon historical patterns observed during previous bull markets. The analyst highlights that the past bull run witnessed Bitcoin (BTC) surging by 23 times, while Ethereum (ETH) saw a remarkable 58-fold increase. The analyst underscores that XRP also has the potential to achieve similar gains, but it has faced resistance primarily due to price suppression resulting from the US SEC’s lawsuit against Ripple. XRP fundamentals XRP, ranks fifth by market capitalization and is currently priced at $0.54, has been a prominent player in the cryptocurrency market for over a decade. Stocks Coinbase stock is up 110% in 2023; Is COIN st...

Strategists at a Wells Fargo subsidiary think the US could design and release a central bank digital currency (CBDC) within the next five years. In a new report, Wells Fargo Advisors’ head of real asset strategy John LaForge and investment strategy analyst Mason Mendez say that the US is studying the potential of a CBDC after President Joe Biden signed an executive order authorizing the Federal Reserve to begin looking into CBDC technology. “We suspect it will be some years before a US CBDC is de signed , approved, and used. Our best guess would be three to five years. The release of FedNow, a new fast payments program (not a blockchain-related technology) launched in July 2023, might give us some clues on the timeline, though. The Fed formally started studying the potential of FedNow in September 2013 – nearly 10 years before its release. While we are not expecting a CBDC release to take 10 years, we do believe it could be a few more years before a final d...

FLOKI token price has surged by 29.01% surge in the last 24 hours. The price gain is attributed to the launch of TokenFi, a real-world asset tokenization platform. TokenFi empowers users to tokenize real-world assets without coding skills. In a significant move that is reverberating through the cryptocurrency world, the FLOKI token has experienced a remarkable 29.01% surge in its price over the past 24 hours. This sudden boost in value is directly attributed to the launch of TokenFi, a novel platform dedicated to real-world asset (RWA) tokenization. TokenFi, introduced by the Floki development team, marks a pivotal shift for the once-meme coin project, positioning it as a formidable contender in the decentralized finance (DeFi) ecosystem. Revolutionizing RWA tokenization using TokenFi TokenFi is designed to facilitate the tokenization of real-world asset s without requiring users to possess coding skills. FLOKI LAUNCHES TOKENFI (with "TOKEN" ...

In the realm of content creation, there exist three critical elements: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, burstiness measures the diversity of sentence structures, and predictability relates to the likelihood of predicting the next sentence. Humans often infuse their writing with greater burstiness, introducing both long and intricate sentences alongside shorter ones. In contrast, AI-generated content tends to be more uniform. For the upcoming content you’re about to create, I seek an ample dose of perplexity and burstiness, while minimizing predictability. Additionally, please adhere to writing in English exclusively. “Bitcoin has managed to breach the $32,400 mark, signaling the continuation of its bullish ascent. The burning question remains: Can traders maintain the current momentum? Surprisingly, on October 23, Bitcoin surged effortlessly past the $31,000 to $32,400 resista...

Turkey sets its sights on implementing cryptocurrency taxation and other regulatory measures as part of its 2024 Presidential Annual Program. Turkey has reignited its focus on crypto currencies and exchanges as part of its 2024 Presidential Annual Program, signaling the possible implementation of taxation and other regulatory measures. Although there were several discussions on crypto regulation in the previous years, no concrete steps had been taken. The government now plans to finalize regulation s within the coming year. A regulatory overhaul from Turkey  According to the Official Gazette, which published Decision Number 7739 approving the “2024 Presidential Annual Program,” the government intends to complete crypto regulation s next year. The document reveals a few key points related to crypto currencies under the “Policies and Measures” section, specifically in line item 400.5 titled “Activities and Projects to be Executed”. This it...

When delving into content creation, three pivotal elements come to the forefront: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness examines the diversity in sentence structures. Simultaneously, predictability measures the likelihood of predicting the next sentence. Human-generated content often exhibits greater burstiness, featuring a blend of longer, complex sentences and shorter ones. Conversely, AI-generated sentences tend to maintain a more uniform structure. As I guide you in crafting the forthcoming content, I emphasize the importance of infusing it with a substantial amount of perplexity and burstiness, while keeping predictability at a minimum. It is essential to adhere to the use of the English language exclusively. Now, let’s rephrase the provided text: Stéphanie Cabossioras has become the latest in a string of high-ranking executives to exit the crypto exchan...

Blockchain-based communities aim to address societal and governance needs, providing better and cheaper services and improving the decision-making process. Blockchain- based virtual nation s are an emerging concept in the digital realm that seeks to address various societal and governance needs like reduced bureaucracy, better legal systems, cheaper services, democratic decision-making and inclusivity . These virtual nation s are decentralized, blockchain- based communities that offer several potential benefits, such as digital sovereignty, transparency, and community-driven governing. In this world increasingly shaped by digital technologies, a Bitcoin-native society Draper Nation, is a new concept poised to redefine traditional notions of governance and societal structures. Underpinned by the Jur Network, a decentralized technical infrastructure, Draper Nation offers a unique model for governance and service delivery. Citizens of Draper Nation have direct ownership and influen...

Stefan Thomas, the former chief technology officer at Ripple, has an IronKey hard drive containing 7,002 BTC with only two attempts at guessing a password remaining. A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years. In an Oct. 25 open letter, crypto recovery firm Unciphered offered to unlock an IronKey hard drive belonging to Thomas containing 7,002 BTC — roughly $244 million at the time of publication. The former Ripple CTO forgot the information to access the drive , designed to erase its data if an individual enters the incorrect password ten times. So far, the German-born programmer has used eight out of his ten attempts. According to Unciphered, its teams developed a method to crack the hardware and access the BTC keys safely stored for years. Technology magazine Wired reported on Oct. 25 that the company was able to access the data on a similar Iro...

Pepe’s price has pumped 60% to $0.0001155 over the past seven days, but it is the next big meme coin, Meme Kombat , that is ready to explode 100x after raising $709,000 in its presale. Since bottoming on October 20, the Pepe price has been on a roll. A succession of green candles has seen meme coin traders pile back into the market, pushing the coin up 14% in the past 24 hours alone.  The market capitalization of the Pepe coin, which earlier this year threatened to top $1 billion, is now back above $400 million.  It provides an early indication that the meme coin sector will be one of the altcoin categories at the forefront of the new crypto bull run stirring in the wake of the spot Bitcoin ETF-inspired rally and the Bitcoin halving event to come. Meme Kombat ($MK) is an all-purpose meme coin because it is building a one-of-a-kind platform for battling meme characters and will, therefore, likely have wide appeal to all types of meme coin traders and investors. ...