Cryptocurrency

In related cryptocurrency news, the Shiba Inu token (SHIB) also witnessed volatility after its recent integration with Atomic Wallet. On Tuesday, November 15, 2023, Atomic Wallet announced support for SHIB along with its related tokens LEASH and BONE. This development initially pushed SHIB’s price up to $0.000009156. However, by Tuesday, November 22, the price had settled at $0.000007947.Moreover, the emerging cryptocurrency Rebel Satoshi (RBLZ) is making headlines as it targets a $100 million market cap. RBLZ is currently in its presale phase, trading at $0.010. The project aims to attract investors with governance mechanisms and exclusive NFT offerings.These developments highlight the dynamic nature of the cryptocurrency market and the growing interest from both retail investors and large financial institutions in digital assets and their associated technologies.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $13.6 million via a hot wallet hack that occurred on November 22. Continue Reading on Cointelegraph More

XRP (XRP) has failed to break above a descending trendline resistance since January 2018, and it fell short of logging a breakout above in November 2023 as well, illustrating psychological selling pressure around the line.Continue Reading on Cointelegraph More

On Nov. 23, X users could briefly view CZ’s account only after clicking on a button to acknowledge it was “temporarily restricted.” Zhao resigned as CEO of crypto exchange Binance on Nov. 21 as part of a settlement with United States authorities in which he pleaded guilty to one felony charge.Continue Reading on Cointelegraph More

Ivan Keller, policy officer for the European Commission, spoke to Cointelegraph at the MoneyLIVE conference in Amsterdam. News of Binance’s high-profile settlement with the U.S. Department of Justice (DOJ) broke the night before Keller’s keynote and served as a pertinent reflection point for MiCA’s full-scale application in 2024.Continue Reading on Cointelegraph More

India has taken a proactive stance in response to these developments by calling for global regulatory alignment during the G20 meetings. The Indian government’s initiative is aimed at establishing a coherent regulatory framework across countries to better manage the risks associated with digital currencies and protect investors.In line with this approach, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) have proposed a flexible regulatory framework. This framework is designed to be adaptable to various economic conditions while ensuring coordinated disclosure requirements that would enhance transparency in the cryptocurrency market.Simultaneously, India is advancing its own measures to curb speculation in cryptocurrencies by piloting fiat digital currencies. The country is exploring deterrent taxation policies as part of its strategy to mitigate the risks posed by volatile crypto markets, especially in light of recent financial disruptions.These concerted efforts by US authorities, international organizations, and India reflect a growing consensus on the need for robust regulatory measures in the crypto industry to safeguard investors and ensure financial stability.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

On today, Thanksgiving Day 2023, discussions in America are not just about turkey and family gatherings but also about the cryptocurrency market trends. These conversations are especially relevant in light of the high volatility and significant events such as cryptocurrency bankruptcies that have impacted investor sentiment. From one Thanksgiving to the next, major cryptocurrencies including Bitcoin experienced significant declines, with a combined investment of $3,000 plummeting to just $905.69.However, in an impressive turnaround, those who took advantage of what was perceived as a favorable entry point on the subsequent Thanksgiving Day have experienced overall positive investment performance. Bitcoin investors realized a substantial increase of 123.3%, and Ethereum followed suit with a 70.5% rise. Dogecoin, on the other hand, lagged with a 9.2% decrease. Nevertheless, these investments cumulatively pushed their initial $3,000 outlay to an impressive $4,846.24—a total uptick of 61.5%.This performance starkly contrasts with that of traditional stock market behavior over the same period. While the S&P index fund returned just under 13%, those who directed their funds toward Bitcoin from its all-time high price point and Ethereum at peak valuation—alongside Dogecoin after its early-year rise—have witnessed their portfolio grow to approximately $4.8k, marking an overall gain of over 61%.The cryptocurrency market’s resilience demonstrates its potential for rapid recovery and substantial gains despite periods of significant volatility and downturns. This Thanksgiving, many investors have more than just their holiday feast to celebrate.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Investor confidence has been bolstered by the anticipation of a U.S.-sanctioned Bitcoin spot price Exchange-Traded Fund (ETF), which is expected to launch in less than two months. This development has led to speculation about long-term traditional finance (tradfi) investments transitioning into crypto assets. Updates from Grayscale regarding their ETF application have added to the positive sentiment, hinting at favorable regulatory shifts on the horizon.Analysts are linking the current buying trends directly to the expectations surrounding the ETF. Notable voices in the industry like Ninja and Pentoshi have connected these patterns to the potential approval of the ETF. Samson Mow from Jan3 has even predicted a dramatic rise to $1 million per Bitcoin, citing the possibility of significant institutional funds entering the market once the ETF goes live.Technical analysis also supports a bullish outlook for Bitcoin and other major cryptocurrencies such as Ether (ETH). Cold Blooded Shiller highlighted that the Relative Strength Index (RSI) has ‘reset,’ which typically precedes upward trends in asset prices. This suggests that the recent correction phase might be over, and a new wave of growth could be on its way, further fueled by institutional investment products.Traders are closely watching resistance levels, particularly around the $38K mark. The presence of significant buy walls on Binance indicates strong bullish momentum building up. Discussions on social media by influencers like Daan Crypto Trades emphasize the critical nature of these levels and how surpassing them could reinforce an ongoing recovery trend.Overall, market optimism seems to be gaining ground as investors look forward to transformative developments in institutional crypto investment vehicles like ETFs. With technical indicators aligning and social media buzz growing around potential regulatory approvals, the crypto market appears poised for a possible new phase of growth and stability.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More