According to a report by crypto security analytics firm SlowMist, the Chinese hackers behind the phishing scam used China’s ban on international applications as the basis of their fraud, with many mainland users often searching for these banned applications via third-party platforms.Continue Reading on Cointelegraph More
The digital currency’s value spiked past $36,000 on Wednesday, reaching heights not seen since May 2022. The rally is largely attributed to the optimism surrounding potential ETF approvals, which are expected to bring in a new wave of institutional investments. The U.S. Securities and Exchange Commission (SEC) has a decision window from November 8 to 17 for considering spot Bitcoin ETF applications, with the possibility of extending the deadline until January 2024.Despite the positive market sentiment and price action, Peter Schiff, a noted economist and cryptocurrency skeptic, has been cautioning investors about an impending crash. On October 23, Schiff warned that high prices could lead to an increase in sellers over buyers, potentially causing the market to tumble. His concerns were echoed in a recent Twitter poll conducted on Monday, where Schiff highlighted that despite a majority of his followers expressing a long-term holding sentiment for Bitcoin, he interprets this as a sign of an upcoming crash before any SEC approval of spot Bitcoin ETFs.The poll results showed that 68.1% of respondents supported the “Buy and HODL till the moon” strategy for Bitcoin investing. However, Schiff disagreed with the majority’s prediction that a crash would occur after an ETF launch, instead suggesting it would happen sooner.Investors and observers alike are now closely watching the SEC’s decision-making process regarding Bitcoin ETFs as it unfolds over the coming days. The outcome could have significant implications for both the price of Bitcoin and the broader cryptocurrency market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The halving event, which occurs every 210,000 blocks and reduces the rate of new coin issuance by 50%, is one of the most anticipated events on the Bitcoin calendar.While the next BTC halving is scheduled at block height 840,000, the exact date and hour are uncertain due to the natural variability and probabilistic nature of mining blocks., an on-chain analytics start-up, estimates that the halving is 158 days away, or on April 23, 2024, based on the current average block interval.Aside from its technical beauty and inevitable nature, the Bitcoin halving is also appealing to investors. All previous halvings resulted in strong market performance in the 365 days that followed.According to an on-chain analyst at Glassnode, Bitcoin has had an outstanding yearly return profile of over 400% following the halving event in previous cycles. However, keep in mind that past performance does not guarantee future results.That said, the possibility remains bullish for Bitcoin, according to a recent Glassnode analysis.Looking at the 90-day change in illiquid supply, Glassnode notices a consistent increase in illiquid balances over all previous halving occasions.This shows that investor buy-side activity increases in the run-up to and during the halving, frequently exceeding the rate of issuance both before and after the event.Illiquid supply is currently expanding at a pace of 180,000 BTC every quarter, which is 2.2 times faster than issuance. Currently, roughly 81,000 BTC are mined each quarter, which will shortly be reduced to approximately 40,000 BTC per quarter following the .Currently, Glassnode observes a notable confluence between Bitcoin metrics, indicating that “available supply” is at historical lows.This article was originally published on U.Today More
Since then, the union has released a summary of its final deal with studios, which included AI guidelines and a digital pamphlet spelling out the agreed-upon AI regulations for the industry. Continue Reading on Cointelegraph More
Bitget officially announced on Nov. 13 that its Hong Kong division, BitgetX, accessible by the domain BitgetX.hk, will cease operations by Dec. 13, 2023.Continue Reading on Cointelegraph More
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Tether issued another 1 billion of Tether on the Tron blockchain on Nov. 10, blockchain data provider Whale Alert reported. The latest USDT minting came just a few days after Tether issued another 1 billion USDT on Ethereum on Nov. 9, in addition to 2 billion USDT issued in two batches on the Tron blockchain on Nov. 3 and Oct. 19, according to Whale Alert data.Continue Reading on Cointelegraph More
Hayes, who led BitMEX since its inception in 2014 until a lawsuit in the United States curtailed its growth, remains an influential voice in the cryptocurrency space. He has recently highlighted the actions of central banks such as the People’s Bank of China (PBoC), the European Central Bank (ECB), and the Bank of Japan (BoJ) which are expected to follow similar monetary easing measures without negatively impacting their respective currencies. This is primarily because the U.S. Treasury Secretary Janet Yellen’s leadership, has adopted a more relaxed policy stance.The former executive’s comments come at a time when global credit markets and central bank balance sheets are anticipated to expand significantly. Historically, these factors have played a role in influencing cryptocurrency valuations. Drawing on this correlation, Hayes advocates for long positions in Bitcoin (BTC), Ethereum (ETH), and the emergent Solana (SOL) network, which he has recently taken an interest in.Moreover, Hayes foresees a potential surge in decentralized applications (dApps) and their associated tokens. He suggests that some of these assets could experience exponential growth, with potential returns up to 10,000 times their current value. However, he cautions investors to exercise due diligence and remain vigilant amidst this optimistic outlook.Bitcoin itself has demonstrated remarkable growth, surging 250% since March 2020. This performance is indicative of the growing interest and confidence in cryptocurrencies as both a hedge against traditional financial systems and a speculative investment opportunity.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
