The International Monetary Fund (IMF) has advised the U.S. to improve its fiscal position by reducing spending and increasing revenues. The IMF emphasizes addressing rising debt through policy adjustments and recommends maintaining current interest rates until late 2024. “Given those risks, we agreed that the Fed should keep policy rates at the current level until […]
Bitcoin News
Bitcoin Long-Term Outlook: Analyst Foresees Peak In Late 2025
Following the fourth Bitcoin Halving, Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months.
Bitcoin Could Mirror Past Halving Cycle
According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 2015–2017 cycle. Meanwhile, after the event in the 2019-2021 bull cycle, the digital asset topped out within 546 days. This suggests that the event has always catalyzed massive growth for the leading cryptocurrency asset.
Should the past trend hold, the next bull market top might happen between 518 and 546 days following the recently concluded fourth Halving, particularly around the middle of September or middle of October in 2025, according to Rekt Capital.
The analyst noted that in this cycle Bitcoin is accelerating by about 220 days currently. Thus, the longer time BTC consolidates after this Halving, it will be better for resynchronizing this current cycle with the previous events cycle.
Rekt Capital also noted that Bitcoin has experienced further declines in the three weeks after the Halving, according to historical data from 2016. He has labeled the period as the Post-Halving “Danger Zone,” this is where there is a chance of downside volatility at the range low of the Re-accumulation Range.
In 2016, approximately 21 days after the occurrence, Bitcoin saw a lengthy -11% decline before gaining momentum toward the upside. However, data for 2016 indicates that if there will be downside volatility in this cycle around the Re-Accumulation Range Low, it may happen during the following 15 days.
Although the post-Halving danger zone ends in 15 days, the 2016 data indicates that there may be some negative volatility in the interim, possibly reaching the ,600 Range Low.
Parabolic Phase For BTC
It is worth noting that Rekt Capital anticipates a parabolic phase after the re-accumulation phase is concluded. During this stage, Bitcoin usually sees massive growth leading all the way up to a new all-time high.
In the previous Halvings, Bitcoin would historically consolidate in this Re-Accumulation Range for up to 150 days before ultimately entering a parabolic phase. Once BTC breaks out of this re-accumulation stage, Rekt Capital expects BTC to see a parabolic upside by September this year if it consolidates within the aforementioned timeframe.
At the time of writing, BTC was down by over 5% in the past 7 days and was trading at ,504. Presently, its market cap is down by 1.53%, while its trading volume has increased by over 22% in the last 24 hours.
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Bitcoin News
Skybridge Founder Says It’s Not Too Late to Buy Bitcoin — Foresees ‘Face-Ripping Rally Incoming’
Skybridge Capital founder Anthony Scaramucci has explained that it is not too late to buy bitcoin. With bitcoin’s price surging past ,000, he anticipates that many are wondering if they’ve missed the opportunity to buy the crypto. Scaramucci stressed that his answer is a hard “no.” Anthony Scaramucci: Bitcoin Is Still a Good Buy Skybridge […]
Bitcoin News
Analysts Suggest Financial Giant Charles Schwab Poised to Shake Up Bitcoin ETF Market With Potential Late Entry
In the wake of a noteworthy 11-day period during which U.S.-centered spot bitcoin exchange-traded funds (ETFs) amassed a trading volume totaling .36 billion, discussions have emerged about the potential involvement of Charles Schwab, the American multinational financial services corporation. Eric Balchunas, Bloomberg’s lead ETF analyst, advises, “don’t sleep on Schwab, they’re never first to market in anything but they make back impact when they come in.”
Analyst Predicts Charles Schwab’s Delayed Move to Disrupt Bitcoin ETF Arena
Recent conversations have surfaced about Charles Schwab gearing up to introduce a spot bitcoin ETF, hot on the heels of the debut of ten U.S.-based ETFs on Jan. 11, 2024. In her article on riabiz.com, Lisa Shidler touches upon this development, remarking that “Charles Schwab Corp. is being cryptic about cryptocurrency.” Shidler delves into how Schwab might leverage its extensive scale and competitive low-fee pricing strategy to make a bold move with its bitcoin ETF.
She further explores this topic in a discussion with Eric Balchunas, Bloomberg’s senior ETF analyst. “They may shock the world and offer something that is 10-basis-points in a few months,” Balchunas told Shidler. “I wouldn’t be surprised. They could have something up their sleeve. They might like to do something like that.” Morningstar analyst Bryan Armour clarified to Shidler that this approach is typical of Schwab’s operational style.
“It’s consistent with what we’ve seen from Schwab, overall. They’re more methodical with their approach to product development than others,” Armour told the riabiz.com reporter. “They trade the first-mover advantage for having a more thoughtful lineup that can stick with them for the long-term.” On the social media platform X, ETF Institute co-founder Nate Geraci agrees with Balchunas and stated:
Schwab to enter spot bitcoin ETF race? I say it’s already [a] foregone conclusion. Agree [with] Eric [and] believe will happen (sooner rather than later).
Charles Schwab offers a full range of brokerage, banking, and financial advisory services including dealing with exchange-traded products (ETPs). Schwab founded in 1971 offers a wide range of ETPs, including complex ETPs, leveraged, and inverse ETPs. On X Balchunas explained that Schwab could get aggravated by Fidelity’s significant lead in the spot bitcoin ETF race.
“Don’t sleep on Schwab,” Balchunas said. “They’re never first to market in anything but they make back impact when they come in [with] dirt cheap fee [plus] 30 [million] active brokerage accts. And they do NOT like Fidelity, so FBTC’s success could annoy them to file something sooner rather than later.”
What do you think about the predictions that Charles Schwab may enter the spot bitcoin ETF race? Let us know what you think about this subject in the comments section below.
Crypto Analyst Says It’s “Not Too Late” To Buy Ethereum, Here’s Why
A crypto analyst has explained how the range around ,000 could become a major Ethereum support base for years, making it not too late to buy ETH right now.
43.8 Million Ethereum Was Acquired Between ,900 And ,100
In a new post on X, analyst Ali has discussed about why Ethereum could still be worth getting into at this point. The analyst has cited data from the market intelligence platform IntoTheBlock to explain this, referring to the on-chain acquisition distribution of the cryptocurrency.
In the above graph, the dots represent the number of investors or addresses who bought their coins within the corresponding price range. Naturally, the larger the size of the dot, the more is the density of holders who bought inside the range.
It appears that out of all the price ranges that ETH has visited in its entire history, the ,900 to ,100 one hosts the cost basis of the largest number of holders.
ETH was just recently consolidating inside this range, and as trading occurred inside it, the investors slowly gained their cost basis there, which is why the range has now swelled so large.
Now, what relevance does this range have for Ethereum? To understand this, how investor psychology works must first be known. To any investor, their cost basis is a particular price level, as their profit-loss situation can flip when the asset’s spot price retests it.
Because of this reason, the holder might be more likely to show some kind of move when this retest takes place. If the investor had last been in profits, they might expect the same level to be profitable again, so they may just buy more.
A few investors doing such buying won’t make the market budge at all, but if a large number of investors bought inside the same tight range, the levels might just end up providing support to Ethereum should it make a retest.
The ,900 to ,100 buyers are obviously in profits, so this range, which hosts the cost basis of 5.85 million addresses who acquired 43.8 million ETH there, could show a major buying reaction if ETH dips towards it. Ali explains, “this range could become a significant support level for years ahead. So, it’s not too late to get in on ETH!”
In another post yesterday, the same analyst had posted the Ethereum weekly chart, noting that if ETH could secure a sustained candle close above the ,150 mark, the asset could be set for some exciting uptrend.
As is visible from the chart, the ETH weekly price could be breaking above an ascending triangle pattern. “Targets in sight? We could be looking at ETH marching towards ,600, and possibly even soaring to ,500!” says Ali.
ETH Price
Ethereum has enjoyed some fresh bullish momentum during the past few days as it has now soared above the ,200 mark.
Renowned Finance Author Says Buy Bitcoin Now Before It’s Too Late, Here’s Why
Renowned finance author Robert Kiyosaki has never been shy about his support for Bitcoin and he continues to push for more adoption of the asset. Kiyosaki who wrote the infamous ‘Rich Dad Poor Dad’ book is back once again with a piece of advice, and a warning, for investors regarding Bitcoin.
Buy Bitcoin Now, Says Kiyosaki
In normal fashion, Kiyosaki took to Twitter to sound the warning about rising prices due to inflation. This tweet was made back on November 23 where the author lamented the reality of individuals who are having to live paycheck to paycheck and are unable to hedge their wealth against inflation by buying Bitcoin, alongside Gold and Silver.
Then in a November 26 post, Kiyosaki once again reiterated the importance of owning Bitcoin. As the finance author explained, it will be good news when the price of Gold reaches a new high. However, those who will suffer are workers and savers.
Instead of just saving straight in dollars, the best-selling author advises that individuals put their money into assets such as Gold, Silver, and Bitcoin. Kiyosaki refers to the monetary system as a “FAKE money system”, advising people to get out before it’s too late.
Great News Gold reaches new high. Bad News: Workers and savers are losers. Bad News: been saying the same for 25- years. Don’t be a loser. Get out of FAKE money system. Get into gold, silver, Bitcoin now…. Before it’s too late.
— Robert Kiyosaki (@theRealKiyosaki) November 26, 2023
This is on brand for Kiyosaki whose message over the years has not changed. Instead of saving in dollars that are expected to keep depreciating, the author lobbies for better ways to store wealth, with Bitcoin always leading the charge.
BTC Price Will Soar To 6-Digits
Kiyosaki’s bullishness on Bitcoin and why he advises investors to utilize this asset shines through in his predictions for the future price. In October, Kiyosaki predicted that the price of Bitcoin would reach as high as 5,000 a piece especially as the price of Gold began to trend higher.
This prediction pads up his earlier forecast from August 2023 where the author said the BTC price could reach 7-digits. He said the asset, which he refers to as ‘God’s money’, could cross the million mark, and at the same time, the price of Gold could cross ,000 while Silver will rally to ,000.
Bitcoin, Gold, and Silver are not the only assets that Kiyosaki is bullish on, however, as tech giant Apple has caught his attention. This comes after Apple CEO Tim Cook sold his shares of the company. As the price fell, Kiyosaki put forward that Apple shares may be a good buy if the price were to drop below 0. However, Apple stock failed to breach this mark and has since risen back above 9 per share.
Robert Kiyosaki’s Advice: Get Into Bitcoin Now ‘Before It’s Too Late’
Rich Dad Poor Dad author Robert Kiyosaki has advised investors to get into bitcoin and ditch fiat money now “before it’s too late,” reiterating that workers and savers in U.S. dollars are losers. Kiyosaki has made a number of bullish predictions about the price of bitcoin, ranging from 5,000 in the near term to million.
Robert Kiyosaki Recommends Getting Into Bitcoin Now
The author of Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his recommendation of gold, silver, and bitcoin while advising investors to ditch fiat currency. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author wrote on social media platform X Saturday that gold has reached a new high. Noting that workers and savers are losers, he urged them to “get out of fake money system” and immediately get into gold, silver, and bitcoin “before it’s too late.”
Kiyosaki often refers to fiat money as “fake money.” He previously explained that “the U.S. dollar became fake money” when President Richard Nixon removed it from the gold standard in 1971. “This is because rather than being tied to real money,” such as gold, “it was tied to the ‘full faith and credit’ of the United States,” the Rich Dad Poor Dad author described. In contrast, he calls gold and silver God’s money while bitcoin is “people’s money.”
Earlier this month, he stressed that fiat money isn’t safe, urging investors to protect themselves from central bankers. The renowned author has said repeatedly that he doesn’t trust the Federal Reserve, the Biden administration, and Wall Street, warning that the Fed and the Treasury are destroying the U.S. dollar.
He previously predicted that people who own gold, silver, and bitcoin will get richer when the Federal Reserve prints trillions of dollars, emphasizing: “Fake money savers will be the biggest losers.” In September last year, he stated: “Today, U.S. debt in 100s of trillions. Real inflation is 16%, not 7%. Fed raising interest rates will destroy U.S. economy. Savers will be biggest losers. Invest in real money. Gold, silver & bitcoin.”
Earlier this month, he reminded investors of Rich Dad’s first lesson that the rich don’t work for dollars. “The rich do not want jobs or fake paper assets. The rich want assets that put real tax-free money in their pockets and they know how to save real assets, gold, silver, bitcoin assets that provide lifelong financial security and freedom,” Kiyosaki explained.
The renowned author has long been recommending gold, silver, and bitcoin. Last week, he said bitcoin is the best protection against hyperinflation. Kiyosaki has made a number of bullish predictions about the price of BTC, ranging from 5,000 in the near term to million in the event of a global economic crisis. He has also predicted that gold could reach ,000 and silver could reach ,000 in the same scenario. In February, he projected that the price of bitcoin would reach 0,000 by 2025, while gold could rise to ,000 and silver could reach 0 within the same timeframe.
What do you think about Rich Dad Poor Dad author Robert Kiyosaki’s advice? Let us know in the comments section below.
Debunked: FBI-Owned Bitcoin Wallet Erroneously Tied to Late Russian Oligarch Prigozhin in Recent Speculation
Amid swirling speculations about the third biggest bitcoin wallet, chatter has now emerged linking the fifth largest BTC wallet to the late Yevgeny Prigozhin, former owner of the Wagner private military company (PMC). However, a straightforward blockchain explorer search clearly indicates the wallet bears a label identifying it as property of the U.S. government. Nevertheless, this hasn’t deterred the media and netizens from propagating unfounded theories.
Misguided Claims Connect FBI-Owned Bitcoin Wallet to Russian Magnate Prigozhin
Recently, there was buzz about the third biggest bitcoin (BTC) wallet. Now, attention has shifted to the fifth-largest BTC wallet, with many making audacious claims regarding its ownership. Cryptocurrency news outlets, along with a flurry of social media posts on platforms like X and Facebook, are asserting that this wallet was owned by the late Yevgeny Prigozhin. Rumors swirled about Prigozhin, the former PMC head, and his links to crypto, especially after his tragic demise in a plane crash near Tver Oblast.
JUST IN:
Russian billionaire Yevgeny Prigozhin linked to fifth largest Bitcoin wallet
— Whale (@WhaleChart) August 28, 2023
While it’s plausible that the Russian magnate, Prigozhin, dabbled in cryptocurrencies like Bitcoin, the ownership of the fifth-largest BTC wallet isn’t his legacy. In reality, the U.S. government holds the keys to this vault, having confiscated a whopping 94,643 BTC — valued at .4 billion today — from the culprits behind the Bitfinex hack. Blockchain aficionados can spot this wallet’s affiliation easily on explorer platforms like Arkham and oxt.me. Its provenance is also clear from the U.S. Justice Department’s public statements and initial reports on the seizure.
Nevertheless, the tale of Prigozhin’s alleged link with this wallet gained traction, reminiscent of the many baseless speculations that often engulf the crypto realm. It’s akin to the earlier social media frenzy suggesting Blackrock owned the third-largest bitcoin wallet. Such narratives crumble upon closer scrutiny of the Bitcoin blockchain, yet many skip this essential step, perpetuating fictionalized accounts on social media without verification.
Some have pointed out that, despite the absence of solid proof, there’s indirect evidence suggesting the wallet might belong to the late Russian Oligarch. However, this notion is completely unfounded and a total fabrication. There’s not an iota of evidence supporting such a claim, while there’s irrefutable onchain data confirming the wallet’s ownership by the FBI.
What do you think about the rumors swirling about concerning these large bitcoin wallets? Share your thoughts and opinions about this subject in the comments section below.
Shiba Inu Based BONE Up 34% In One Week, Too Late To Buy?
The launch of the beta version of Shibarium, the layer-2 network if Shiba Inu, is getting closer and closer. As NewsBTC reported, lead developer Shytoshi Kusama published a blog post yesterday in which he informed about the upcoming steps before the launch.
What is clear at the moment is that Shibarium will be released before May 2023, although there are rumors that the launch could be completed much sooner, possibly within the next week. And the Shiba Inu-based Bone ShibaSwap (BONE) token is significantly outperforming SHIB over the past week in anticipation of that.
While BONE is up about 10% in the last 24 hours and 34% over the last seven days, SHIB is down 2% on the day, up roughly 8% over the last week.
With its recent strong performance, BONE has even entered the top 100 cryptocurrencies by market cap. With a total market capitalization of 6.8 million, BONE is currently ranking 98th. But what’s the reason?
Why Does BONE Outperform Shiba Inu?
First and foremost, the already suspected launch of Shibarium seems to be a key driver of BONE’s price rally. BONE will play a pivotal role in Shibarium and for the Shiba Inu ecosystem in general.
The BONE token will have a number of use cases once the layer-2 blockchain is deployed. The Twitter account “BoneShibaSwap,” popular in the Shiba Inu community, wrote:
The most important topics for everyone!
1. It has been confirmed that Shibarium Beta will be released next week
2. Over a million Shiba holders will buy Bone for very low fees and burn Shib with every transaction.
3. You will need Bone for everything in the SHIB ecosystem
The backdrop is that BONE will be the only governance token of the layer-2 technology. On February 16, the Unification team released the first BONE proposal, which also started BONE’s price rally.
Developer Ringoshi Tōitsu stated via Twitter that they plan to create a FUND liquid staking derivative token on Ethereum that will allow anyone to stake ETH-based funds and receive sFUND. This would be similar to Frax Finance, which creates liquidity on Curve as well as staking incentives.
Regarding Bone ShibaSwap (BONE), developer Ringoshi Toitsu explained on Twitter that BONE could be staked on Shibarium while receiving back a wrapped version of it called tBONE. Ultimately, this means that tBONE could be paired with BONE to earn a higher annual percentage rate (APR) while helping to maintain Shibarium’s liquidity.
With the addition of this strong use case, BONE has seemingly gained traction from a fundamental perspective. BONE’s limited supply meets a strong use case as well as growing hype around Shibarium.
BONE Price Today
At press time, BONE was trading at .86, failing on its first attempt at the crucial resistance of .96. If the launch of Shibarium is indeed confirmed next week, BONE may break through this level and target the all-time high of .38.