News - Page 18

The crypto prices today have started the month on a positive note, continuing the rally from October. This upward momentum is in line with the "Uptober" sentiment that is typically observed in the digital asset space. The crypto market fear and greed index currently stands at 72, indicating a "greed" scenario in the market.

Ripple's native cryptocurrency XRP has maintained stability around the current level of $0.59, following the recent upsurge in the crypto market. Analysts expect a positive outcome for XRP going into November 2023.

Top Republican lawmakers are demanding that the U.S. Securities and Exchange Commission's (SEC) April 2022 rule on crypto accounting be blocked. They argue that the rule, known as Staff Accounting Bulletin (SAB) 121, is harmful and prevents companies from revealing their crypto asset balances.

A crypto strategist warns that Dogecoin (DOGE) may experience a deep pullback after failing to break through a key resistance level. The pseudonymous analyst, Rekt Capital, notes that Dogecoin respected its multi-month diagonal resistance last week, indicating a potential fall to its support at around $0.053. The recent weekly close below the channel top resistance suggests that the DOGE breakout is postponed, with previous similar closes resulting in downside movement. However, if DOGE can hold its highs and reclaim the channel top as support, there may still be a chance for an upward move. On the weekly chart, DOGE needs to convert the $0.07 resistance into support to confirm the channel breakout. At the time of writing, DOGE is trading at $0.0697.

The judge ruled that the jury should find Bankman-Fried guilty of one count of wire fraud if there was either misrepresentation or misappropriation in how he marketed FTX to customers. This ruling is an early win for the prosecution.

According to a recent projection by global asset management firm Bernstein, Bitcoin (BTC) price is expected to reach $150,000 levels in the 2024 to 2027 cycle.

The Government Accountability Office (GAO) has concluded in a report that the 2022 guidance on cryptocurrency should have been treated as a formal rule. The report states that the industry believes this guidance threatens the ability of crypto investors to find safe harbors for their assets. According to federal rulemaking procedures, the GAO argues that the accounting bulletin should have gone through a different process, including submission to Congress before it went into effect. However, the report clarifies that this finding does not directly impact the ongoing status of the bulletin as technically nonbinding SEC policy.

In a recent strategy session, veteran crypto trader Tone Vays highlights a bullish pattern forming in Bitcoin (BTC) that could lead to a significant breakout. With a large following of 123,000 subscribers on YouTube, Vays predicts a potential 10% surge in Bitcoin's price.

A crypto analyst who accurately predicted the top of Bitcoin’s 2021 bull market believes that Ethereum is well-positioned for further gains. The analyst, known as Pentoshi, suggests that Ethereum could rise by more than 21% from its current value. According to Pentoshi, Ethereum has entered a new trading range and crossing the lower bound of this range indicates a potential upward move. Additionally, Pentoshi notes that Ethereum against Bitcoin has corrected to a key psychological level, suggesting a likely bounce. The analyst also provides insights on Bitcoin, stating that as long as it remains above the $31,500-$32,500 range, it will continue its uptrend. Pentoshi predicts that Bitcoin could rally above the $40,000 level in the coming weeks. Lastly, the analyst updates the outlook on the altcoin Fetch.AI, expecting a period of consolidation before a move towards the $0.496 range high. Investors are advised to conduct their own research and exercise caution when investing in cryptocurrencies or digital assets.

Circle, a financial technology company, has announced that it will be phasing out support for legacy consumer accounts. This decision was communicated to individual consumers via email. It is important to note that this change does not affect business or institutional Circle Mint accounts.

The Bank for International Settlements (BIS) emphasizes the importance of coordinated international efforts in regulating stablecoins. While stablecoin technology presents new financial opportunities, the drawbacks may outweigh the benefits. The BIS Committee on Payments and Market Infrastructures (CPMI) highlights the challenges of stablecoin adoption, including coordination, competition, network scale, market structure, and the lack of consistent and effective regulation.

Sushi, the token native to the decentralized exchange SushiSwap, has experienced a significant surge in price, increasing by almost 20% in just 24 hours. This bullish trend has been sustained over the past month, with a 25% gain in 30 days, 39% gain in two weeks, and a 26.5% gain in the last week.

The CEO of asset management giant Van Eck believes that the conditions for cryptocurrencies are becoming extremely favorable as we approach 2024. In a recent interview, Jan van Eck stated that Bitcoin has solidified its position as the primary alternative to gold, presenting a near-perfect trading opportunity for bulls in the coming year.

The company's assets include $5.2 billion of secured loans, which have been reduced by $330 million from the previous quarter. However, there is still a significant amount of work to be done in order to fulfill the company's promise of reducing loans to zero by December 2022.

The Ethereum price is currently wavering at a critical juncture, indicating that a direction trend is imminent for this asset. Over the past two weeks, the Ethereum price has experienced a remarkable recovery, surging 17.8% from its local support at $15.25 to its current trading price of $1798. However, this rally seems to be facing resistance around the $1,850 level, similar to the supply pressure faced by Bitcoin. The presence of rejection candles with long wicks suggests heightened supply pressure, raising doubts about the sustainability of the ongoing recovery.

Dogecoin (DOGE) price is currently hovering below support/resistance at $0.07 as the crypto market calms down after a period of bullish action. This consolidation comes after the hype surrounding the potential greenlighting of Bitcoin spot exchange-traded funds (ETFs) in the US.