Coinbase’s chief legal officer has publicly urged U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to stop misleading the market regarding crypto tokens being securities. His request followed Gensler’s repeated assertions that numerous crypto tokens conform to the legal definition of securities, thereby requiring compliance with SEC regulations. Coinbase’s CLO to Gensler: Please Stop […]
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Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts
The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech […]
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TRON DAO at Harvard Blockchain Conference and New TRON Builder Tour Stop
PRESS RELEASE. Geneva, Switzerland, April 17, 2024 – The Harvard Blockchain Conference, a premier gathering hosted by the Harvard Blockchain Club, showcased the TRON DAO as a Platinum Sponsor, the highest tier for the Harvard Blockchain Conference. The official conference saw a packed crowd of attendees featuring a variety of students, thought leaders, and blockchain […]
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Bitcoin Next Stop $80,000? Crypto Analyst Sees BTC Soaring Ahead Of 2024 Halving
As the crypto market braces for the upcoming Bitcoin (BTC) halving in April 2024, the discussion surrounding Bitcoin’s price trajectory has continued to gain momentum. Particularly, Michaël van de Poppe, a well-regarded figure in the crypto analysis domain, has shared his latest analysis on Bitcoin.
Next Stop ,000?
In a post shared on X, Van de Poppe suggests that Bitcoin is on the cusp of a notable rise, eyeing a target range between ,000 to ,000 in the lead-up to the halving event.
This prediction is based on the current consolidation phase of Bitcoin, indicating a buildup toward testing its all-time high with the potential for a subsequent correction.
#Bitcoin consolidating.
I think that we’re close to the peak of this run, but I think we’ll have another ATH test, perhaps even -80K pre-halving and then we’re correcting.
During that consolidation / correction phase, I expect altcoins to outperform. pic.twitter.com/bnQjYuIzrr
— Michaël van de Poppe (@CryptoMichNL) March 27, 2024
Notably, Bitcoin halving plays a crucial role in this scenario, serving as a pivotal event that historically influences Bitcoin’s market dynamics.
The halving, scheduled to occur in April 2024, will see the reward for mining new blocks halved, thereby reducing the rate at which new BTC are created and entering the market.
This event, occurring approximately every four years, is anticipated to create scarcity, pushing the demand and possibly the price higher than past patterns have suggested.
Bullish On Bitcoin
In addition to Van de Poppe’s predictions, other analysts have shared their optimistic outlooks regarding Bitcoin’s potential price movement. Jelle, another esteemed crypto analyst, posits that Bitcoin is poised for a significant leap, potentially breaching the 0,000 mark sooner than expected.
This bullish sentiment is also echoed by Doctor Profit, who highlights the importance of understanding Bitcoin’s current market behavior, including its recent sideways movement. He identifies this movement as an accumulation phase poised to catalyze a surge past the ,000 mark, aiming for 0,000.
#Bitcoin – What’s Next?
The big Sunday report, all you need to know:
TA/LCA/Psychological Analysis: In last week’s Sunday report, we discussed an anticipated sideways movement in the larger timeframe. As observed, Bitcoin is perfectly moving in this sideways region as… pic.twitter.com/BhE5Weycxv
— Doctor Profit (@DrProfitCrypto) March 24, 2024
The significance of accumulation in this context cannot be overstated. As recently reported by NewsBTC, there is an increase in the number of addresses holding at least 1,000 BTC, suggesting that institutions and large-scale investors are gearing up for what may come post-halving.
However, despite this accumulation, Bitcoin over the past 24 hours has declined by nearly 2%, with a current market price below ,000.
Featured image from Unsplash, Chart from Tradingview
US Senators Push SEC to Stop Approving Spot Crypto ETFs — Say Other Crypto Markets Risker Than Bitcoin
Two U.S. senators have urged U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler to refrain from approving additional crypto exchange-traded fund (ETF) applications. The lawmakers cautioned: “However vulnerable bitcoin may be to fraud and manipulation, markets for other cryptocurrencies are far more exposed to misconduct.” Lawmakers Say SEC Should Not Approve Spot Crypto ETFs […]
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Worldcoin Ordered to Stop Operations in Spain
Worldcoin, the biometric identity project, has been banned from operating in Spain for up to three months, according to a press release from the Spanish data agency, the AEPD. The agency will also require Worldcoin to stop using the already collected data from Spanish citizens, utilizing the EU’s General Data Protection Regulation (GDPR) as a […]
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TRON DAO at ETH Denver and Host of TRON Builder Tour Denver Stop
PRESS RELEASE. Geneva, Switzerland, March 4, 2024 – The TRON DAO team attended ETH Denver, one of the leading events in the blockchain space. In conjunction with this, the TRON Builder Tour (TBT) ETH Denver event unfolded, drawing enthusiasts into the dynamic world of the TRON ecosystem with an event packed with insights, networking, and […]
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RFK Jr. and Donald Trump Both Vow to Stop the Fed From Issuing US Central Bank Digital Currency if Elected
U.S. presidential candidates Robert F. Kennedy Jr. (RFK Jr.) and Donald Trump have independently promised the American people to stop the creation of a central bank digital currency (CBDC) in the U.S. if elected President. “I will protect Americans from government tyranny,” Trump said, adding that a CBDC “would be a dangerous threat to freedom.” Kennedy similarly warned that a digital dollar “will allow the government to surveil all our private financial affairs.”
Donald Trump and Robert F. Kennedy Jr. Both Vow to Stop CBDC Creation if Elected
U.S. presidential candidates Donald Trump and Robert F. Kennedy Jr. (RFK Jr.) have independently voiced strong opposition to the creation of a central bank digital currency (CBDC) in the U.S.
Kennedy posted on social media platform X last week that he has been discussing financial freedom in the 21st century with Dr. Joseph Mercola, an osteopathic physician and best-selling author. The presidential hopeful promised: “As president, I will end the efforts to move toward a CBDC.”
Dr. Joseph @Mercola and I discuss financial freedom in the 21st century. As president, I will end the efforts to move toward a CBDC. #Kennedy24 pic.twitter.com/gao3D1HAeM
— Robert F. Kennedy Jr (@RobertKennedyJr) January 24, 2024
In October last year, Kennedy promised that if he is elected President of the United States, he will “make sure that bitcoin is protected, that people can keep their own wallets, that the current White House war on bitcoin will be over, that transactions will be protected and encouraged.”
RFK Jr. also previously stated that “Cryptocurrencies like bitcoin give the public an escape route from the splatter zone when this bubble invariably bursts,” emphasizing: “We should be wary since CBDCs are the ultimate mechanisms for social surveillance and control.” He cautioned: “While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.”
Similarly, former U.S. President Donald Trump made a promise to the American people during a recent rally that as President, he will never allow the creation of a digital dollar. “I will protect Americans from government tyranny,” he exclaimed, adding that a central bank digital currency would give the federal government “absolute control over your money.” Trump stressed:
This would be a dangerous threat to freedom, and I will stop it from coming to America.
The former U.S. president credited Vivek Ramaswamy for bringing the danger of CBDCs to his attention. Ramaswamy, a former presidential candidate, recently exited the race and threw his support behind Trump. Following Trump’s CBDC statement, Rep. Tom Emmer (R-MN) said he looks forward to working with Trump to stop the Fed from creating a CBDC.
Despite the buzz surrounding central bank digital currencies, the Federal Reserve remains far from launching its own CBDC. Fed Chair Jerome Powell stated in September last year that no decision has been reached on a digital dollar, and it won’t come for “at least a couple of years.”
What do you think about Donald Trump and Robert F. Kennedy Jr. vowing to stop the creation of a central bank digital currency in the U.S.? Let us know in the comments section below.
Bitcoin Gearing Up For Recovery As Large Whales Stop Moving Old Coins
There may finally be light at the end of the tunnel for the Bitcoin price as selling has begun to subside for the cryptocurrency. So far, it seems that the large holders have been the main driving force behind the price decline, which could explain why the rally has been suppressed for so long. However, as these large investors start to scale back their selling, the Bitcoin price could be looking at another recovery.
Bitcoin Whales Stop Selling Old BTC
According to a report posted by Santiment, the reason for the suppressed Bitcoin price over the last week could be traced back to large Bitcoin holders. These holders who have a massive stash of old coins, which means coins that have not moved in a long time, had begun to move their coins after the price of BTC found its legs due to anticipation around the Spot ETF approvals.
Once these whales began to move these coins, there was a definite drop in the asset’s price that can be linked back to this move. As these whales moved these coins out of their wallets, the age of their BTC holdings went down, suggesting that they were selling these older coins.
On average, the age of their holdings went from around 640 days to around 624 days in the days following the Spot ETF approvals by the SEC. The on-chain tracker suggests that this was a sign that the market was back in the bull market.
However, after around a week of doing this, these whales seem to have come to a point where they are no longer moving coins. “There are mild signs that this continued movement of older coins is finally done for the time being,” Santiment said.
Now, while Santiment interprets this as a sign that the bull cycle may be over, there is also the possibility that these whales have stopped moving their coins in a bid to wait for the price to recover. In this case, selling pressure will recede, allowing Bitcoin the space to regain its footing once more.
BTC Struggles With ,000 Resistance
The Bitcoin price is currently struggling with the resistance mounting at ,000. Since the crash last week, bulls have continued to lag behind as bears have chosen this level to pitch their tents. The sell pressure also seems to be localized at this point, so it has become the next important level to beat.
If Bitcoin is able to surmount the ,000 resistance, it could signal a return of the rally. At this point, ,000 becomes the next major resistance as investors flock back in. However, failure to turn ,000 into support could result in a further decline in the price.
Petition to Stop Proposed Crypto Ban in US Gains Traction
A petition to stop a proposed crypto ban in the U.S. has gained traction. The Chamber of Digital Commerce explained that the Digital Asset Anti Money Laundering Act, introduced by Senator Elizabeth Warren and currently supported by 19 U.S. senators, is “a crypto ban” that “threatens to stifle innovation, harm job prospects, and undermine the U.S. economy in a sector that is burgeoning with potential.”
Petition to Stop Proposed Crypto Ban in US
The “Stop The Crypto Ban” petition, initiated on Change.org by the Chamber of Digital Commerce on Dec. 16, has garnered nearly 10,000 signatures at the time of writing.
“As concerned citizens of the United States, we need you to sign this petition to stop a proposed ban on cryptocurrency,” the leading U.S. blockchain and digital asset trade association wrote. “By signing this pledge, you agree to not support any cosponsor of the Digital Asset Anti-Money Laundering Act in any future election campaign.” The chamber added:
The Digital Asset Anti Money Laundering Act, currently supported by 19 U.S. senators, threatens to stifle innovation, harm job prospects, and undermine the U.S. economy in a sector that is burgeoning with potential. It is a crypto ban.
Senator Warren introduced the Digital Asset Anti-Money Laundering Act in December last year. Experts call the bill “the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we’ve yet seen.” The bill’s supporters have massively grown since its launch.
While acknowledging the importance of regulation for ensuring the safety and integrity of the digital asset space, the chamber expressed concerns about the current form of the legislation, emphasizing that it “is a ban on digital innovation.” The chamber went on to outline its concerns, which encompass potential economic impact, restrictions on innovation, as well as security and privacy issues. Moreover, the petition notes that the bill’s limitations could impede consumer access to a diverse array of financial tools and services provided by the digital asset ecosystem, thereby obstructing financial inclusion and choice.
The senators named in the petition are Elizabeth Warren (D-MA), Roger Marshall (R-KS), Lindsey Graham (R-SC), Joe Manchin (D-WV), Dick Durbin (D-IL), Robert Casey (D-PA), Jeanne Shaheen (D-NH), Michael Bennet (D-CO), Gary Peters (D-MI), Richard Blumenthal (D-CT), Angus King (I-ME), Tina Smith (D-MN), Catherine Cortez-Masto (D-NV), Sheldon Whitehouse (D-RI), John Fetterman (D-PA), Ben Ray Lujan (D-NM), Laphonza Butler (D-CA), John Hickenlooper (D-CO), Raphael Warnock (D-GA), and Chris Van Hollen (D-MD).
“Considering these concerns, we, the undersigned, pledge not to support any senator in any future election unless they oppose the Digital Asset Anti Money Laundering Act in its current form. We urge these members to consider the long-term implications of this bill on innovation, economic growth, and consumer freedom,” the chamber stressed, elaborating:
We believe in a future where digital assets are integrated into our economic framework in a way that fosters innovation, protects consumers, and enhances the U.S. economy. We call on our senator to play a pivotal role in shaping this future, not stifling it.
What do you think about this petition to stop the proposed crypto ban? Let us know in the comments section below.