Market Outlook #247 (28th November 2023) Hello, and welcome to the 247th instalment of my Market Outlook. In this week’s post, I will be covering Bitcoin, Ethereum, Polkadot, Cosmos Hub, Aave, Akash Network, Litentry and Rainicorn. As ever, if you have any requests for next week, send them across. Bitcoin: Weekly: Daily: Price: $37,295 Market Cap: $729.275bn Thoughts: If we begin by looking at BTC/USD on the weekly timeframe, we can see that price – despite wicking lower earlier in the week – formed a higher-low above the prior week and closed at marginal new yearly highs on growing volume. We…
Author: Crypto Flexs
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Bitcoin Latinum (LTNM) backers further modified their support this week following the cryptocurrency’s successful launch on DigiFinex. Launched on the DigiFinex platform, which has over 4 million daily users globally, LTNM recorded an open rate of over 200% in the first hour. Additionally, the developers also announced that it will be available on six other exchanges by the end of the year. These exchanges include: HitCTC, FMFW, Changelly, Changelly Pro, Bitmart, and XT.com. Monsoon Blockchain Corporation, which developed the cryptocurrency on behalf of the Bitcoin Latinum Foundation, also discussed the challenges of making the cryptocurrency more environmentally friendly than other…
Bitcoin BTC + The speed, which measures how often digital assets are traded or used for trading, is at historically low levels, according to analysts.Bitfinex analysts observed a contrast between the current Bitcoin speed and the averages recorded during the last cryptocurrency bear market in 2018-2019.“Historically low Bitcoin trading volume signals a significant shift in sentiment compared to the last bear market cycle,” analysts said in a note.According to Bitfinex, the low velocity levels suggest holders of digital assets have been reluctant to sell and buyers are looking for new supply.“It is no surprise that Bitcoin reached this year’s high…
Cryptocurrency analyst CryptoInsightUK He shared his optimistic thoughts about: XRP price. He noted that something may be happening with the token and its ecosystem. Interestingly, he agrees that XRP could rise to $9.6. XRP Price Could Repeat 2017 Impulse in post Shared on his X (formerly Twitter) platform, CryptoInsightUK shared a monthly XRP/BTC chart. He noted: XRP’s biggest impact on BTC It was about 5,200% that occurred in 2017. Analysis of the shared chart suggested that a similar setting to that time was being formed. This time, XRP could see higher gains against BTC as CryptoInsightUK has revealed that XRP…
BlackRock has officially submitted an application for an Ethereum spot exchange-traded fund to the U.S. Securities and Exchange Commission.BlackRock’s Transition to Ethereum ETFBlackRock, the world’s leading asset management company, has officially applied to the U.S. Securities and Exchange Commission to establish an Ethereum spot exchange-traded fund (ETF). Known as the iShares Ethereum Trust, this ETF aims to reflect the price performance of Ethereum. The filing of the Form S-1 for this ETF by iShares, part of the BlackRock ETF family, represents an important step in this direction.This development follows the recent registration of iShares Ethereum Trust with the Delaware State…
Decades from now, a lot will be said about the early days of Ethereum. We’ll remember how a unique and powerful technology began to change the landscape of trust on the Internet. Some people might remember being skeptical, while others might argue that they knew all along that it would change the world. These future stories are out of our reach because everything is overshadowed by the challenges and uncertainties of the present moment. But there are other stories we need to hear right now. people’s stories; Their learning, growth, hopes, and experiences. The Ethereum Foundation’s Next Billion Fellowship seeks…
Online casino sites constantly aim to outshine each other through bigger bonuses, expanding games libraries, and novel themes to attract players. The latest contender making cosmic waves is Mirax Casino, a licensed crypto gambling platform launched in 2022 that brings stunning space-age aesthetics to its expansive catalog spanning over 7,000 games. This review will dig into Mirax’s starry backdrop to determine if it provides more than just flashy cosmetics. We’ll assess critical factors like legitimacy, game variety, bonuses, banking options, security, mobile compatibility and customer support to gauge the user experience. While the website’s modern space theme helps it stand…
Talk of altseason still dominates the cryptocurrency community despite the market decline. However, most analysts agree that this is not the case yet and this may be the last chance to buy the dip. Altcoins are currently in retreat, which may provide more opportunities to load in before the alt season. Altcoins by The Cusp Analysts are paying renewed attention to altcoins following a recent rally that pushed the overall market capitalization to $1.5 trillion, the highest in 18 months. “It’s not alt season yet,” said cryptocurrency trader Jacob Canfield on November 27. He commented on the decline in Bitcoin…
Brian Armstrong’s US cryptocurrency exchange sent an email to some users regarding a court subpoena it received from the CFTC regarding rival platform Bybit. Coinbase, the largest U.S. cryptocurrency exchange, is responding to a subpoena it received from the Commodity Futures Trading Commission (CFTC) in connection with the regulator’s investigation into Bybit, a Dubai-based digital asset trading venue. An email was sent to selected customers. notice Posted Coinbase customers took to social media to explain that the exchange may submit information about certain accounts and transaction history in accordance with U.S. law. No action is required on your part, but…
Arthur Hayes believes that China’s monetary authorities are preparing to pump credit into the country’s economy, which in turn will strengthen Bitcoin and the wider cryptocurrency market.“Let’s see how the Middle Kingdom throws gasoline on the raging fire of the nascent cryptocurrency bull market,” the BitMEX co-founder said in a blog post on Monday.Hayes described a confluence of factors that could lead China to “flood the world with yuan credit.” He explained in his blog post how these capital inflows could push Bitcoin higher. Interaction between the US Dollar and the Chinese YuanMaelstrom CIO and former BitMEX CEO explained how…