Cryptocurrency

Zhonghui Cai, an official from the Securities and Futures Commission (SFC) of Hong Kong, explained during the airtime that the regulation of virtual asset providers faces challenges such as cybersecurity, surety of clients’ assets and potential conflict of interest between platforms and clients. Previously, Cointelegraph reported that while the guidelines will become effective in June 2023, the SFC has not approved any virtual asset trading platform servicing retail investors.Continue Reading on Coin Telegraph More

If the debt ceiling talks stretch further, traders may lighten their positions from risky assets, as a debt default by the U.S. is likely to have huge financial implications around the world. Even cryptocurrencies could witness a sell-off, and analysts have not ruled out a potential fall to $20,000 for Bitcoin (BTC).Continue Reading on Coin Telegraph More

The fugitive crypto executives were granted release to house arrest on 400,000 euros ($435,000) bail each by the Basic Court in the Montenegrin capital Podgorica on May 12. The bail terms were proposed by their defense team. Prosecutors appealed the ruling to the High Court the following week.Continue Reading on Coin Telegraph More

Blockchain-based digital payment network Ripple took a minority stake in crypto exchange Bitstamp in the first quarter of 2023. Digital investment firm Galaxy Digital advised on the deal, according to a transcript of the May 9 Galaxy shareholder conference call.Continue Reading on Coin Telegraph More

The sell-off came after users reported that their multichain funds had not arrived due to a backend node upgrade “taking longer than expected.” An admin in the Multichain Discord channel wrote:Continue Reading on Coin Telegraph More

Metaverse and GameFi will be crucial in the next bull cycle, says crypto and NFT investor Crypto Tony. In a recent tweet, Tony told his followers his focus is on APE, MANA, PYR, SAND, AXS, ILV, ALICE, and RLB.Tony is an intraday cryptocurrency trader and analyst famous for his regular posts and trade alerts. He is renowned for sharing chart screenshots of his analysis, telling his followers about his plans, and offering them precise trading targets.In the recent tweet where he revealed the altcoins he is watching out for, Tony asked his followers to mention other tokens they think will partake in the anticipated rally of the next bull cycle. Some tokens they listed include PLD, SENSO, DYP, BOMMER, WILD, DONS, and ZIL.A closer observation of the tokens suggested by Tony’s followers shows they are predominantly tokens with relatively low market caps and tokens with large communities. These two factors have been part of the fundamental indicators that traders consider when speculating in the altcoin market, especially during periods of anticipated volatility.Many crypto users expect a bull cycle to kick in soon, given how close we are to another Bitcoin halving event. Historically, the halving event triggers market volatility and generates an overall upside momentum that pushes many cryptos to new price levels. The duration of the event’s impact usually spans several months on both sides of the actual halving date.Although past performance does not guarantee future results, users still anticipate that a bull cycle is imminent, especially considering how the crypto market developed in early 2023.Bitcoin surged from the first day of the year and gained over 80% during the rally. The price rally dragged the rest of the market along and has slowed down in what several analysts consider a consolidation. Tony thinks the bull run will continue, and the altcoins he listed will play significant roles by embarking on recognizable rallies.The post Crypto Analyst: Metaverse, GameFi Crucial for Next Bull Cycle appeared first on Coin Edition.See original on CoinEdition More

The lead on-chain analyst for Glassnode, _Checkmate, shared in a tweet published this morning that the sell-side risk ratio for Bitcoin (BTC) is approaching all-time lows. In the post, he added that this indicates that investors are reluctant to spend coins which are both in profit or in a loss within the current price range.The analyst added that this ratio usually reaches all-time lows when sellers are exhausted on both sides, which suggests that big moves may occur in the near future. This may be a much-needed short-term bullish sign for the crypto market, which saw its market cap drop 2.04% over the past 24 hours according to CoinMarketCap – taking the total to $1.12 trillion.In terms of BTC, the leading crypto’s price stood at $26,750.13 at press time after it had printed a 2.36% loss over the last day. This recent negative performance also flipped its weekly price performance into the red. As a result, BTC’s price was down 0.77% over the past 7 days.After reaching a daily high of $27,386.99, BTC’s price had recently broken below the key $27K mark to set a 24-hour low at $26,694.43. The market leader was not out of the woods yet, as its price was trading dangerously close to its daily low.Daily chart for BTC/USDT (Source: TradingView)Technical indicators on BTC’s daily chart were bearish at press time, with the 9-day EMA line trading below the 20-day EMA line and the daily RSI line looking to cross bearishly below the daily RSI SMA line. If the daily RSI line crosses below the daily RSI SMA line in the next 48 hours, then BTC’s price could drop to $25,450 in the following days.On the other hand, the daily RSI line remaining above the daily RSI SMA line for the next 48 hours will see BTC’s price attempt to break above the 9-day and 20-day EMA lines. Should this happen, BTC will climb to $28,200 in the next few days.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post BTC’s Price Is Primed for a Large Move Up, According to Analyst appeared first on Coin Edition.See original on CoinEdition More

According to a Reuters report, on May 23, White House officials said they would be asking workers how their employers use AI for monitoring purposes. This comes as federal investments are allocated toward the technology’s development. Continue Reading on Coin Telegraph More