Cryptocurrency

On a Bitcoin weekly chart, Zeberg highlighted Bitcoin’s past cycles and returns from the bottom lows spotted. Taken from the cycle’s peak, between 2016 and 2018, Bitcoin saw 95-fold growth.Drawn from 2019 bottom lows until the peak of the bull run in November 2021, when Bitcoin made out highs of $69,000, BTC saw growth by 16 times.Zeberg identified a Bitcoin bottom low that occurred toward the end of 2022. Bitcoin has barely increased 1.3 times from this low, significantly behind the estimated 10- to 11-fold growth potential Zeberg highlighted.If taken from the current price, which has only demonstrated a 1.3-fold growth, a ten-fold increase in the from cycle lows would be around $313,000.While Zeberg anticipates a parabolic rise in the price of Bitcoin in the short to medium term, he also predicts that a recession will occur, which could result in risk assets being crushed, but the time is not here yet.At the time of writing, BTC was down 1.45% in the last 24 hours to $36,280. BTC rose to a yearly high of roughly $38,000 in the past week.This bounce, however, was short-lived, as the price fell sharply below the $37,000 support level. The BTC price is currently lingering near this level, and a retest is expected soon, with the outcome undetermined.Short-term traders may continue to book profits, pulling the BTC price toward $34,961. If the BTC price rises substantially and sustains above the $38,000 mark, it might signal the start of a rally to $40,000.This article was originally published on U.Today More

BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14.Continue Reading on Cointelegraph More

The pattern of issuance and burning of tokens by Tether has attracted the attention of the cryptocurrency community, particularly in light of major banking sector events earlier this year. Tether’s minting activities have been robust, with significant issuances recorded on October 19 and November 3, each adding another 1 billion USDT on Tron to the ecosystem.While increasing its token supply, Tether has also engaged in token burning to adjust its circulation. Notable reductions in the supply occurred in February with a burn of 2 billion Ethereum USDT, in June with 3.1 billion Tron USDT being destroyed, and on August 22 when another 1.2 billion Tron USDT were burned.These financial maneuvers by Tether have not gone unnoticed, with observers drawing connections between Tether’s activities and the collapse of Silicon Valley Bank and Signature Bank (OTC:SBNY) in March 2023. Despite these speculations and scrutiny regarding alleged links to these banks that ceased operations, Tether has denied such claims and emphasized its dedication to regulatory compliance.Looking ahead to 2024, Tether has announced plans for transformative projects aimed at advancing the Web2 industry and introducing a real-time proof-of-reserves feature. This initiative is expected to enhance transparency for USDT holders by providing up-to-date information on the reserves backing the stablecoin.Ardoino’s remarks regarding these strategic moves were shared via Social Media Platform X, where he clarified that minted tokens are “authorized but not issued.” This distinction is crucial for understanding Tether’s approach to managing its digital currency supply amidst a dynamic cryptocurrency landscape.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Customers were informed about the policy in a letter suggesting the changes are due to the United States Financial Crimes Enforcement Network (FinCEN) proposed rule establishing new responsibilities on firms processing transactions from mixing services.Continue Reading on Cointelegraph More

On Sunday, Whale Alert reported a substantial transfer of approximately 447 million XRP tokens. The movement involved two separate wallets: one associated with Ripple and another unidentified wallet that had previously been active. The first batch of around 424 million tokens, worth close to $281 million, was moved from the unknown wallet, with some tokens sent to Bitvavo, hinting at a possible sell-off.The second batch of transactions occurred on Monday when roughly 23 million tokens, valued at about $15 million, were shifted within a wallet connected to Ripple to an address based at Bitstamp. This type of transfer is characteristic of those conducted by Ripple’s On-Demand Liquidity (ODL) partners. Amid these transfers, XRP’s price experienced a sharp 16% increase due to erroneous reports claiming BlackRock (NYSE:BLK) had filed for an XRP spot ETF. The price reached $0.75 before correcting after Bloomberg’s ETF analyst Eric Balchunas dismissed the report as false.Today, XRP’s trading value has seen a downturn by 1.84%, with the cryptocurrency changing hands at $0.6562 and its overall market capitalization dropping to $35 billion according to CoinMarketCap data. This decrease in value comes after an unusual 15% surge in price following a significant transaction where an unknown wallet transferred 24 million XRP tokens ($15.61 million) to Bitstamp. The subsequent increase in token circulation led some investors to anticipate a potential sell-off.The recent price surge was also influenced by the spread of false rumors about an XRP spot ETF purportedly backed by BlackRock and listed on Delaware’s investment trusts registration website. BlackRock later confirmed that the trust filing was fraudulent.The ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has added to the uncertainty affecting XRP’s price. Judge Torres recently announced scheduling for remedies discovery and briefing in the case, which has been closely watched by investors for potential impacts on XRP’s valuation.In the past 24 hours leading up to November 14, XRP saw a marginal increase of 1.85% in its price to $0.6645 but registered a decline of 3.99% over the previous week. Trading volume during this period surged by an astounding 221.99%, reflecting heightened investor interest and market activity around these developments.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

According to the local outlet, News1, the disclosure will be a part of the party’s effort to show the “high moral standards” of its candidates. The chairman of the Democratic Party’s strategic planning committee, Han Byung-do, reportedly stated in a closed-door meeting with journalists:Continue Reading on Cointelegraph More

On Nov. 6, data published by blockchain analytics firm Nansen showed that NFT sales volume leaped from $56 million in the week ending on Oct. 9 to $129 million in the week ending on Nov. 6. Continue Reading on Cointelegraph More

The lawsuit was filed on Nov. 13 and names the defendants as “DOES 1-3,” as they remain anonymous. Google says that the scammers have used its trademarks specifically relating to its AI products, such as “Google, Google AI, and Bard,” to “lure unsuspecting victims into downloading malware onto their computers.”Continue Reading on Cointelegraph More