Yesterday's press hit from the Market Insider, with a bold prediction of BTC hitting $140k-$180k range at the next cycle's peak. #IwantToBelieve Bitcoin could soar to $180,000 before the April 2024 halving as potential BlackRock ETF helps drive demand, Fundstrat sayshttps://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-blackrock-etf-filing-demand-180000-crypto-halving-2023-7The price of bitcoin could soar 521% from current levels to $180,000 before the cryptocurrency's scheduled halving in April 2024, according to a Monday note from Fundstrat.
The investment research firm said that while bitcoin's daily demand of about $25 million is equivalent to daily mining rewards of about $25 million, that could change with the potential launch of a bitcoin ETF.
A bitcoin ETF could add an extra $100 million in incremental daily demand for bitcoin, according to the note. That increase, combined with the April 2024 halving set to slash daily mining rewards to $12 million, means the price of bitcoin would have to rise substantially to meet an equilibrium among buyers and sellers.
"This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million. The implied equilibrium price would need to rise so daily supply matches daily demand. Equilibrium analysis suggests that a clearing price is $140,000 to $180,000, before the April 2024 halvening," Fundstrat said. Many bitcoiners are hoping for much more than that, but I'd be content if we hit the $100k mark. |
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No idea if/what is the official process for requesting this, but Polish local board could really use another merit source. To my understanding, we currently have only 1 source ( malevolent) who is hardly active on this forum. The stats say it all (credit to Rikafip), it's the local board with the worst merit/post ratio, despite high quality posts: So I'd like to nominate any of the most active (and well respected) top 3 posters: Tytanowy Januszwwzsockicygan |
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Larry Fink (BlackRock) makes the headlines again with his bullish statement, saying that there's a big demand for crypto from their investors. How nice as this might sound, let's never forget that these people are not our friends. ‘Transcend’ The U.S. Dollar—BlackRock CEO Issues ‘Important’ Crypto Prediction After Huge Week For The Bitcoin, Ethereum And XRP Pricehttps://www.forbes.com/sites/digital-assets/2023/07/16/transcend-the-us-dollar-blackrock-ceo-issues-important-crypto-prediction-after-huge-week-for-the-bitcoin-ethereum-and-xrp-price/BlackRock, the world's largest asset manager that looks after $10 trillion worth of value, has triggered a stunning bitcoin and crypto boom in recent weeks.
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Now, BlackRock's legendary chief executive Larry Fink, who shocked the world when he announced a surprise crypto flip last week, has said he expects crypto to "transcend" traditional currencies, including the U.S. dollar.
"Importantly, because it’s so international, [crypto is] going to transcend any one currency in currency valuation," Fink, who last week said bitcoin and crypto could "revolutionize finance" in a dramatic reversal from his previous position of bitcoin being nothing more than an "index of money laundering," told CNBC.
"More and more of our global investors are asking us about crypto," Fink said, explaining BlackRock's move to file an application for a U.S. spot bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) last month.
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It's advised for BTC private keys to be generated on an offline machine (that never gets connected to the internet) for maximum security. But what would be a good alternative when you don't have an offline machine?
Would it be a good idea to create USB stick bootable Linux (from a trusted source) and then access some trusted key-generator (e.g. bitaddress.org)?
Assuming the sources of Linux and bitaddress are trusted, the risk of private keys getting intercepted by any malware are pretty much only theoretical, right? Or am I missing any risks here?
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Some bullish news, BlackRock's CEO, Larry Fink sees Bitcoin as a good opportunity and wants to "democratize crypto". After having their initial ETF application rejected (apparently for trivial reasons) they re-filed it recently. BlackRock Wants to Make It Cheaper to Trade Bitcoin, Larry Fink Sayshttps://www.bloomberg.com/news/articles/2023-07-05/blackrock-wants-to-make-it-cheaper-to-trade-bitcoin-fink-saysBlackRock Inc. Chief Executive Officer Larry Fink called Bitcoin an “international asset” and said the money manager wants to use its heft to make it less expensive and easier to invest in the cryptocurrency.
“It costs a lot of money right now to transact Bitcoin,” Fink said Wednesday in an interview on Fox Business. “We hope our regulators look at these filings as a way to democratize crypto.”
The money management giant filed paperwork last month to set up an exchange-traded fund that invests directly in Bitcoin, which prompted a flurry of similar applications from rival issuers and a rally in Bitcoin’s price to more than $30,000. Bitcoin rose more than 12% in June alone and is up more than 80% year-to-date.
... ps. they seemed to intend to subscribe-wall this article but I can read it fine, and hope you are too. |
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A short article from yesterday. It doesn't really say why, in SEC's opinion, application filling was inadequate, but I think it's obvious that SEC just doesn't want spot BTC ETF to happen. I think the price actually dropped by almost 4%, but rebounded back to above 30k levels, so no major impact as of yet. Bitcoin Drops After Report SEC Says BlackRock Spot Bitcoin ETF Filing Inadequatehttps://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-58d478b2Bitcoin dropped Friday following a report that the Securities and Exchange Commission said filings for a spot Bitcoin exchange-traded fund from BlackRock and others—which have recently buoyed crypto prices—were inadequate.
The price of Bitcoin has dropped 1.5% over the past 24 hours to $30,250. The largest crypto fell from $31,000 to as low as $29,600 after The Wall Street Journal reported, citing anonymous sources, that the SEC has said a recent wave of applications to launch ETFs that hold spot Bitcoin, or the token itself, were inadequate.
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Fresh press hit from only 3h ago. You would think that Bitcoin's growing dominance is a good thing, but author disagrees (spoiler: growing BTC dominance is a sign of lower trust in the crypto market): Bitcoin Rises as Its Dominance Across Cryptos Grows. Why It’s a Bad Sign.https://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-a65ce26Bitcoin and other cryptocurrencies were rising Tuesday with the dominance of the largest digital asset at historically high levels—something that may not bode well for sentiment across the crypto landscape.
The price of Bitcoin has risen more than 1% over the past 24 hours to $26,750, at the upper end of a trading range between $26,000 and $27,000 that has held since a 10-month high above $30,000 was reached in April—a level that has proved difficult to reclaim. Cryptos have continued to stagnate in range-bound trading despite key catalysts on both the regulatory and economic front.
“Short-term indicators point higher, although intermediate-term indicators point lower, so we stay short-term neutral for now,” said Katie Stockton, managing partner at technical research firm Fairlead Strategies. “A breakout, while unlikely near-term, would target second resistance … near $32,000.
(...)” |
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Here's a press hit from Forbes, from 3 days ago. I feel like the market situation is far from the "bloodbath", in fact, I'm surprised that the recent SEC's actions didn't cause a much greater price drop, but I guess exaggerated headlines generate more clicks. ‘Bloodbath’—Sudden $1 Trillion Crypto Crash Sparks Fresh Coinbase Warning And Tanks The Price Of Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solanahttps://www.forbes.com/sites/digital-assets/2023/06/10/bloodbath-sudden-1-trillion-crypto-crash-sparks-fresh-coinbase-warning-and-tanks-the-price-of-bitcoin-ethereum-bnb-xrp-cardano-dogecoin-polygon-and-solana/Bitcoin, ethereum and other major cryptocurrencies have suffered a sudden crash after a week that saw some of the biggest crypto companies rocked by shock regulatory action—with further bombshells on the way.
The bitcoin price has dropped to around $25,000, down 5% to its lowest level since March and mirrored by declines seen by the ethereum price. However, other top ten cryptocurrencies—BNB, XRP, cardano, matic, dogecoin and solana—have all suffered far larger declines, losing between 10% and 25% in mere hours.
Crypto's latest crash—plunging the crypto market to around $1 trillion and described as an "absolute bloodbath" by one trader on Twitter—comes as one of the top global credit rating agencies, Moody's, dropped its outlook on embattled bitcoin and crypto exchange Coinbase from stable to negative.
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Looks like the market just stopped giving a damn about SEC's actions. They sued Coinbase today but the price rebounded to $27k. Link below includes a short video interview with Gary Gensler. Bitcoin rallies above $27,000 after SEC sues Coinbase, alleging its an unregistered brokerhttps://www.cnbc.com/2023/06/06/bitcoin-is-little-changed-after-sec-sues-coinbase-.htmlCryptocurrency prices rose Tuesday after the Securities and Exchange Commission sued crypto services provider Coinbase.
Bitcoin climbed 6.3% to $27,155.16, according to Coin Metrics, recovering its losses from the previous day after the SEC sued Binance. Earlier, it fell as low as $25,368.57, its lowest level since March. Ether gained nearly 5% to trade at $1,896.19.
On Tuesday, the SEC filed a lawsuit in New York federal court alleging that Coinbase has been acting as an unregistered broker and exchange. The agency demanded that the company be “permanently restrained and enjoined” from continuing to do so.
“If there’s a real value in these crypto tokens then compliance will build trust and the business model might change,” SEC Chair Gary Gensler said in an interview Tuesday with CNBC’s “Squawk on the Street.” “What we’re doing at the SEC is pro-innovation because the capital markets really don’t work.”
“There’s a lot of work here for the crypto field but we stand ready to work to get them into compliance,” he added. |
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Fresh press hit from today, unlike the other, recent one, this one is a rather bullish one, but based only on Arthur Hayes (Bitmex) so take it for what it's worth. Crypto Now Braced For A ‘Powder Keg’ That Could Play Havoc With The Price Of Bitcoin And Ethereumhttps://www.forbes.com/sites/digital-assets/2023/06/02/crypto-now-braced-for-a-powder-keg-that-could-play-havoc-with-the-price-of-bitcoin-and-ethereum/Bitcoin, ethereum and crypto prices have been trading sideways for months (though the CEO of one major crypto company thinks that could be about to change). The bitcoin price has dropped back from year-to-date highs of just over $30,000 per bitcoin, with the ethereum price falling along with it—even as excitement over a possible end to Ripple's long-running legal battle has helped XRP break out.
Now, after JPMorgan analysts issued a severe $1.1 trillion warning, the former chief executive of bitcoin and crypto exchange Bitmex Arthur Hayes has predicted a crypto market "powder keg" could go off as soon as this year.
"You’re basically putting this powder keg together of a situation that’s going to be exploding in [the third and fourth quarter] of this year, and I think, ultimately, it will be good for bitcoin," Hayes, who now runs a family office called Maelstrom, told the What Bitcoin Did podcast. "It will be quite volatile on the upside and the downside."
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The question is as in the topic.
After Binance stopped their partnership with Skrill and suspended GBP deposits via Bank Transfer (Faster Payments) and card as well as spot trading - what's the best alternative for the UK customers?
I mean an established, legit exchange with a good track record and no excessive fees. Any recommendations are welcome.
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Not much of a news, but still a press hit from the main stream - Elon Musk says that perhaps buying crypto would be unwise. Elon Musk Issued A Stark Crypto Warning After $2 Trillion Bitcoin, Ethereum And Crypto Price Crashhttps://www.forbes.com/sites/digital-assets/2023/05/25/elon-musk-issued-a-stark-crypto-warning-after-2-trillion-bitcoin-ethereum-and-crypto-price-crash/Bitcoin, ethereum and the wider crypto market have suffered an almighty crash since peaking at a combined value of around $3 trillion in late 2021, wiping away $2 trillion of value (even as bitcoin braces for a 3 billion user shock).
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster
The bitcoin price, which crashed to around $16,000 per bitcoin in the aftermath of the FTX crypto exchange meltdown last year, has rebounded this year, sparking a wave of bullish bitcoin price predictions.
Now, Elon Musk, who helped fan the flames of the huge 2021 bitcoin and crypto bull run, has said he wouldn't advise "anyone to buy crypto"—despite Wall Street giant Goldman Sachs and Microsoft backing a new blockchain. |
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I tried to send a transaction ~2 weeks ago or so, since there was no rush, I went with the "economic" fee, which was expected to get confirmed in around 2-3h. I send the maximum amount, so there was nothing unspent to bump up the fee (CPFP). Despite getting additional funds, I still can't bump it, when trying, I'm getting this error: "Transaction has no utxo to form a child transaction or utxo has already been spent". I rebroadcasted it a few times, just in case, but no luck so far. Transaction details: 4e7d9250a5571008fc385fef67c3e6cef7d8adc8d6d171de0133eaff564779b2What are my options now? Does Mycelium auto-rebroadcast unconfirmed transactions? If I delete the transaction from the wallet and it gets forgotten by the network - the message says I'd need to synchronize the wallet, how do I do that exactly? Or is it just easier to use a paid-for miners tx bumping service? |
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Fresh article from the mainstream from today about USDT announcing they'll be buying >$200 million worth of bitcoins to diversify their reserves. Sounds bullish, but not sure how believable they are. Tether buys bitcoin with a portion of its net profit to back USDT stablecoinhttps://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.htmlCryptocurrency giant Tether on Wednesday said that it’s going to purchase hundreds of millions of dollars’ worth of bitcoin to back the world’s largest stablecoin.
The company said it would invest 15% of its net profit into bitcoin to “diversify” the reserves that back its USDT token, which aims to stick to a 1-to-1 peg to the U.S. dollar.
That would amount to roughly $222 million, based on the company’s last attestation report, which provides a breakdown of the assets that make up its USDT reserves as well as excess reserves and profits. |
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Finally some great news from the US. The democrats are working hard to protect us all from risky crypto investments. They'll happily create a crypto market crash and make investors lose money in order to prevent them from losing money. Good to know there are politicians out there working tirelessly to protect the little people from themselves. " Leak Reveals Secret Democratic Plan For A Game-Changing U.S. Crypto Crackdown That Could Hit The Price Of Bitcoin And Ethereum" https://www.forbes.com/sites/digital-assets/2023/05/14/leak-reveals-secret-democrat-plan-for-a-game-changing-us-crypto-crackdown-that-could-hit-the-price-of-bitcoin-and-ethereum/?sh=51e6dfd1358dNow, a leaked memo circulated to Democratic House financial services committee members has revealed the "key messages" lawmakers were told to stick to that could see almost all cryptocurrencies categorized as securities.
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The document, passed to committee members by the Democratic party ahead of Wednesday’s joint House hearing on crypto policy, was leaked by Fox Business reporter Eleanor Terrett on Twitter. "The problem isn’t ambiguity—it’s mass non-compliance with existing laws," the memo reads. "We can't invent new accommodating regulatory structures simply because crypto companies refuse to follow clear rules of the road."
The memo calls on Democratic lawmakers to push back on Republican claims "they are working to provide clarity to the markets by carving out space for the Commodity Futures Trading Commission (CFTC) in crypto" ... "Republicans are proving that they really aren't serious about protecting investors and consumers." So in summary, just a further confirmation of the US gov's crackdown on crypto. Any thought on how would that unfold? |
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Bull market's canceled. Bitcoin is dead again. This time it got killed by low liquidity and the threat of regulations. Bitcoin heads for its worst week since November as thin liquidity, regulatory pressure hit crypto marketshttps://www.cnbc.com/2023/05/12/bitcoin-btc-price-falls-to-lowest-level-since-march-on-liqudity-issues-regulatory-scrutiny.htmlBitcoin traded at its lowest level since mid-March on Friday as volatility, driven by low liquidity, continued to hit cryptocurrency markets.
Bitcoin was last trading lower by 2% at $26,354.33, according to Coin Metrics. Earlier in the day it fell as low as $26,138.19, its lowest level since Mar. 17. The biggest crypto asset by market cap was on pace to post a weekly loss of 10.6%, which would make it its worst week since Nov. 11.
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There are a number of issues facing crypto markets right now including low liquidity, a crackdown on the industry from regulators in the U.S. and macroeconomic worries.
Liquidity issues
Bitcoin is up around 59% this year but prices have remained volatile, with low liquidity exacerbating moves higher and lower.
Clara Medalie, director of research at Kaiko, said there has been a “notable drop in market depth” for bitcoin.
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SEC's at it again. This time they pester Marathon Digital Holdings Inc (NASDQ ticker: MARA), one of the largest publicly traded crypto mining companies. Bitcoin Miner Marathon Receives Another Subpoena from SEChttps://www.bloomberg.com/news/articles/2023-05-10/bitcoin-miner-marathon-receives-another-subpoena-from-secBitcoin miner Marathon Digital Holdings said it received another subpoena from the US Securities and Exchange Commission related to an investigation of a Montana data center that may involve potential violations of securities laws.
“The Company received an additional subpoena from the SEC on April 10, 2023, relating to, among other things, transactions with related parties. We understand that the SEC may be investigating whether or not there may have been any violations of the federal securities law. We are cooperating with the SEC,” Marathon said in a filing Wednesday. A spokesperson declined to comment beyond the filing. |
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