Crypto
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Bear market will last until crypto apps are actually useful: Mark Cuban
Mark Cuban, the billionaire entrepreneur known for his role as one of the main investors on the reality television show Shark Tank, said the crypto bear market won’t be over until there’s a better focus on applications with utility. He also doesn’t think the market has hit “cheap” prices yet. Cuban has stated in the past around 80% of his non-Shark Tank portfolio was in crypto. Appearing on a June 23 episode of the Bankless Podcast, he was asked how long he believes the current crypto bear market will last: “It lasts until there’s a catalyst and that catalyst is going to be an application, or we get so low people go ‘fuck it I’ll buy some.’” He believes a better focus on applications with utility will pull crypto from its slump and with so many apps focused on financial technology or...
Trader puts faith in crypto despite the failed first investment
From the highs of feeling like a total genius to the lows of downward price movements, crypto investing has taken Dubai-based trader JC Enriquez on a roller coaster ride. In an interview with Cointelegraph, Enriquez shared his crypto trading journey, starting from his first encounter with digital assets. According to the trader, it all started when a friend asked him about his plans for the future. After sharing his dreams about the future, the friend told him that if he wanted to make those plans come true, he “better study cryptocurrency, buy some and hold it.” Hyped by the bull market in 2021, Enriquez finally decided to jump in and start trading. However, his first crypto rodeo was less than fruitful. He told Cointelegraph that he invested thousands of dollars in one project and ...
Bitcoin price limps under $20K as Asia extends global stocks weakness
Bitcoin (BTC) returned under $20,000 on June 29 as analysts stayed hopeful of a trip higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders looks to $19,500 for support Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it crossed below the $20,000 mark for the first time in nearly a week in Asian trading hours. The weakness followed rangebound behavior near $21,000, this characterizing a market still in tune with moves in global equities. The S&P 500 had finished its previous session down 2%, while the Nasdaq Composite Index lost 3%. On the day, Hong Kong’s Hang Seng was likewise 2.1% lower, while China’s Shanghai Composite Index traded down 1.4%. With few bullish cues coming from macro, Bitcoin thus had little stopping it from revisiting the ...
That’s ‘Sir’ Crypto Dad: French order knights former CFTC chair Chris Giancarlo
The French government has given former United States Commodity Futures Trading Commission chair Chris Giancarlo, also known as “Crypto Dad,” the equivalent of a knighthood. In a Tuesday tweet from Giancarlo, the former CFTC head said France’s National Order of Merit awarded him a Chevalier — the equivalent of a knighthood — in a ceremony at the French ambassador’s residence in Washington D.C. Those attending included current and former CFTC commissioners Rostin Behnam, Brian Quintenz, Christy Goldsmith Romero, Kristin Johnson, Caroline Pham, as well as Hester Peirce of the Securities and Exchange Commission. Merci for honor of l’Ordre National du Mérite at the Résidence de France before mes amis @CFTCbehnam @BrianQuintenz @HesterPeirce Dawn Stump Dan Berkovitz @CFTCcgr @C...
Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K
The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates. As the headwinds impacting global financial markets beat down all traces of bullish sentiment, many crypto investors are predicting that Bitcoin (BTC) price could drop to as low as $10,000 before a market bottom is found. BTC/USDT 1-day chart. Source: TradingView While many traders scoffed at the idea of BTC falling below its 2017 all-time high, the recent dip to $17,600 suggests that this bear market could be different from the last one. Here’s what several analysts are saying about the possibility of Bitcoin falling to $10,000 in the next few weeks. Historic pullbacks point to a low at $10,350 Insight...
Bitcoin miner Mawson to defer all major capital expenditures until market conditions normalize
On Tuesday, Bitcoin (BTC) mining company Mawson Infrastructure Group said that it was suspending major capital expenditures until market conditions normalize. In addition, the firm is voluntarily reducing its energy use, also called demand response, in light of the market sell-off and high electricity prices due to inflation. Mawson received its final shipment of Canann A1246 ASIC Bitcoin Miners in June and has no further outstanding payments due for Bitcoin mining rigs. Regarding the company’s decision, CEO and founder James Manning said: “Despite a volatile market, Mawson is currently continuing to self-mine and is also participating in energy demand response programs where applicable. Additionally, we are fortunate to have no outstanding contracts to purchase ASIC Bitc...
Roger Ver denies CoinFLEX CEO’s claims he owes firm $47M USDC
Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, has pushed against claims from crypto investment platform CoinFLEX regarding an alleged $47-million debt. In a Tuesday tweet, Ver — not mentioning CoinFLEX by name — said he had not “defaulted on a debt to a counter-party,” and alleged the crypto firm owed him “a substantial sum of money.” The denial followed rumors on social media that the BCH proponent was involved in the platform halting withdrawals due to “a high-networth client who has holdings in many large crypto firms” not covering their debts. CoinFLEX CEO Mark Lamb took to Twitter shortly after the statement to claim the company had a written contract with Ver “obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regul...
INX And SICPA Sign A Groundbreaking Memorandum of Understanding To Establish a Joint Venture to Develop An Innovative Central Bank Digital Currency Ecosystem To Support Monetary Sovereignty
Toronto, Canada, 28th June, 2022, Chainwire The proposed joint venture will lead the development of blockchain-based technology solutions to create a central bank digital currency ecosystem to help governments digitize their monetary systems The INX Digital Company, Inc. (INXS ATS: INX)(NEO: INXD) (“INX” or the “Company”), a broker-dealer, inter-dealer broker, and owner of a digital asset trading platform, announced today that it has signed a non-binding memorandum of understanding (“MOU”) with SICPA, a global Swiss company, leading provider of security inks and identification, traceability and authentication technologies, to help governments digitize their monetary systems. The Company believes that today, more than ever, governments and central banks around the globe are searching for a ...
Can Cardano’s July hard fork prevent ADA price from plunging 60%?
Cardano (ADA) has started painting a bearish continuation pattern on its longer-timeframe charts, raising its likelihood of undergoing a major price crash by August. ADA price in danger of a 60% plunge Dubbed the “bear pennant,” the pattern forms when the price consolidates inside a range defined by a falling trendline resistance and rising trendline support after a strong move downside. Additionally, the consolidation moves accompany a decrease in trading volumes. Bear pennants typically resolve after the price breaks below their trendline support and, as a rule, could fall by as much as the height of the previous big downtrend, called a “flagpole,” as illustrated in the chart below. ADA/USD three-day price chart featuring “bear pennant'”setup. So...
How crypto is attracting some institutional investors — Huobi Global sales head
James Hume, head of sales at Huobi Global, said that while some institutional investors have gotten “cold feet” over crypto, many with billions of dollars are exploring the space. Speaking to Cointelegraph at the European Blockchain Convention on Tuesday, Hume said that the crypto exchange had observed increasing interest from institutional investors within the last one to two years in entering the digital asset space. According to Hume, it took a long time for certain firms and hedge funds to “build teams, raise capital and understand the infrastructure” to participate in crypto, estimating that 20–30 firms with more than $1 billion could start trading within the year. “I think it’s a pretty exciting time,” said Hume. “A lot of the more speculative bets in crypto… Some have got a bit of c...
‘Unique phenomenon’: All 5B toncoins mined on PoS TON blockchain
The TON Foundation, an organization developing the Telegram-initiated blockchain project, the TON blockchain, on Tuesday officially announced that TON miners have mined the final toncoin. “Tens of thousands of miners have mined the entire issuance of toncoins, which was about 5 billion tokens,” TON Foundation founding member and core developer Anatoly Makosov said in a statement to Cointelegraph. The last toncoin was mined on June 28, he noted. The end of toncoin mining marks a major milestone in TON’s distribution, starting its new era as an entirely PoS blockchain. From now on, new toncoins will only enter circulation via PoS validation, the TON Foundation said. That will result in a cut in the total influx of new toncoins into the network by around 75% to the existing l...
Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’
Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom. There’s so much assurity from various anon and doxed analysts on Crypto Twitter, yet Bitcoin price is still in a clear downtrend, and the metrics don’t fully reflect that traders are buying every dip. A critical component of BTC price that many investors often overlook is the condition and sentiment of Bitcoin miners, which is exactly why Cointelegraph had a chat with Rich Ferolo of Blockware Solutions and ...
