HK police arrest 4, including teen, in HK$11M crypto fraud

The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams.

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StarkWare launches $1M research fund for ZK Bitcoin scaling

StarkWares fund seeks to promote research into OP_CAT and demonstrate its potential to unlock and benefit Bitcoin and the blockchain community in general.

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Abra, CEO Barhydt settle with 25 US states over licensing violations

Other states can join in the settlement, which will see up to $82.1 million returned to customers.

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Fully Noded: The Basics and Benefits of Running a Bitcoin Node

While you can interact with the Bitcoin network solely using a wallet, running your own node delivers privacy benefits and grants the ability to verify your transactions and Bitcoins 21 million supply cap. The fifth installment of 10 Steps to Self-Sovereignty powered by Ledger.

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Ark Investment: U.S. Crypto Innovation Threatened by Regulatory Ambiguity

According to ARK Investment Management, a well-respected global asset manager and advocate of bitcoin, these developments are causing crypto liquidity in the U.S. to decrease substantially and leading to greater volatility in crypto prices. (Read More)

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Bitcoin Price Next Big Move: Will It Hit the Million Dollar Mark in 90 Days? Potential Scenarios Explored

In this Bitcoin price prediction article, we'll explore the potential scenarios for Bitcoin's big move and what it could mean for investors.

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Cardano Wallet Count Reaches 3.6 Million Despite Last Week’s Price Drop

Despite dropping by 9% last week, Cardano (ADA) still stands strong as the total number of wallets surpasses 3.6 million,

Continue reading Cardano Wallet Count Reaches 3.6 Million Despite Last Week’s Price Drop at DailyCoin.com.

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Michael Saylor Praises Bitcoin’s Scarcity, Says Gold Is A Commodity

CEO of MicroStrategy Michael Saylor remains one of the most vocal supporters of bitcoin. Countless times in the past, Saylor has always lauded the benefits of the digital asset, which he says is the best investment. His convictions are shared by his firm which remains the publicly traded company with the largest bitcoin holdings in the world. Now, once again, Saylor has spoken out in favor of the cryptocurrency, effectively snubbing its competitors while he’s at it. Bitcoin Is The Only Scarce Asset Bitcoin’s scarcity has often been one of the strongest arguments for the value of the cryptocurrency. According to the code, there can only be 21 million bitcoins mined, meaning that once this supply is mined, there are no more bitcoins coming into circulation. More BTC cannot be created, making it one of the most scarce assets in the entire globe. Related Reading | Bitcoin Mempool Fills, Transactions Fees Double; Here’s Why With bitcoin’s growth, it has fast become a rival for other top investment assets in the space. One of those assets is gold. Bitcoin which is referred to as digital gold has outperformed its physical rival over the course of the last few years, putting them in fierce competition with each other. However, according to Saylor, only one of these assets is truly scarce and that is bitcoin. Speaking on the PBD Podcast, Saylor explained that all other assets can have more of them created. He called bitcoin the only scarcity known to humanity. The CEO referred to gold as a commodity, alongside other assets like real estate and luxury watches. “I can create more real estate in New York City. I can create more cars. I can create more luxury watches. I can create more gold. I can create more shares of a stock. I can create more bonds,” Saylor explained. BTC declines below $40,000 | Source: BTCUSD on TradingView.com His reasoning was that since he can create more of these, then they are basically commodities. Whereas, bitcoin is “magical” given that there will only ever be 21 million tokens and no one else can create more BTC once they are all mined. Related Reading | Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts “I can create any commodity; they’re commodities by definition. Given enough money and time, I can create infinite of any of them,” Saylor continued. Saylor’s advocacy for bitcoin runs both personal and professional. Saylor is known for using his personal bitcoin investment as an argument for why MicroStrategy should invest in the digital asset. As of the time of this writing, MicroStrategy owns over 120K BTC worth almost $5 billion, putting the firm in profit territory. Featured image from Coingape, chart from TradingView.com

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Why Is Bitcoin So Volatile, Anyway? Fidelity Digital Assets Explains

Let Fidelity take the wheel and drive you through the wonderful world of volatility. Bitcoin critics wield one of the asset’s main characteristics as an unsolvable failure, but, is it? According to Fidelity, “bitcoin is fundamentally volatile.” That doesn’t deter it from fulfilling “its ultimate investment objective of preserving wealth over long time periods.”  Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC The company said all that in Fidelity ‘s latest edition of “The Research Round-Up.” In their longer explanation, they use oil and gold as examples to explain the whole volatility process. We’re in the summarizing business, though. Here at NewsBTC, we will distill their article, state the main points, and briefly comment on them.  Fidelity Explains Bitcoin’s Fixed Supply “Bitcoin is unique in that it is a good whose supply is completely inelastic to changes in price. In other words, supply does not (and cannot) change in response to price.” There will only ever be 21 million bitcoin and that’s that. With other goods, there’s a cycle. “Going back to economic principles, we know that when demand increases for a good, in the short-term the price will rise. However, the higher price then incentivizes suppliers to produce more. More supply will then bring down the price.” This doesn’t happen in bitcoin.  “With bitcoin, supply cannot change regardless of what price does. Therefore, any change in demand, short-term as well as long-term, will have to be reflected by changes in price.” It’s only logical. The laws of supply and demand can only affect the price, and so they do. “There is no change in supply to dampen the effect of price moves, even over the longer-term.” Mix that with an ever-decreasing supply of new coins, due to the halvings, and you have a perfect recipe for what bitcoiners call “number go up technology.” Fidelity summarizes the phenomenon with a quote from Parker Lewis:  “Bitcoin is valuable because it has a fixed supply and it is also volatile for the same reason.” Those two characteristics come in a package.  BTC price chart for 03/09/2022 on FX | Source: BTC/USD on TradingView.com Bitcoin As A Store Of Value “Something that has low volatility is not necessarily a good store of value in the long run, while something that has high volatility does not mean that it can’t be a good store of value in the long run.” It’s easy to get scared by volatility. Investors, traders, and even true believers let their feeling get in the way and exit the market with every little bump in the road. However, there’s no one that has holded bitcoin for more than four years and is in the red. Literally no one.  Related Reading | Bitcoin Volatility Drops To 15 Month Low; What This Could Mean Let’s get an obvious example from Fidelity, “The U.S. dollar is not volatile but has also not been a good store of value in terms of purchasing power, while bitcoin is considered very volatile, but has been a much better store of value over the past ten and even five years.” “Volatility is a byproduct of price discovery, and there is no other way for price discovery to happen in a free market.” Even though bitcoin is 13 years old, it’s still going through price discovery. How much is bitcoin really worth? We won’t know for years, even decades. “This process of individuals all coming to adopt bitcoin in different ways and timeframes necessarily must produce volatility,” completes Fidelity.  Fidelity Thinks Bitcoin’s Volatility Is Decreasing “The limited historical evidence we do have so far appears to be showing volatility declining over the long-term.” Bitcoin Volatility decreasing | Source: Fidelity The graph clearly shows that volatility is slowly fading. This is only logical. Fidelity explains, “as gold went through a major price discovery process in the 70’s, which then resulted in amassing a larger base of investors, volatility naturally declined.” We’re still early, though. This is not financial advice, but, for now, you should learn how to ride volatility and use it in your favor. Featured Image by Chris de Tempe on Unsplash | Charts by TradingView and Fidelity

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Will Bitcoin Hit $1 Million By 2028? Experts Clash Over Bold Price Prediction

Tuur Demeester, a Bitcoin evangelist, has recently shared his views on Bitcoins potential to reach the $1 million mark by 2028. Demeesters view on this topic presents a cautious contrast to some of the more bullish predictions in the crypto community. This tempered perspective comes when others, such as Samson Mow, express strong confidence in [...]

The post Will Bitcoin Hit $1 Million By 2028? Experts Clash Over Bold Price Prediction appeared first on Crypto Breaking News.

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Adhoc Crypto News: Bitcoin Price On the Way to $1 Million! 3 Reasons

Right now, Bitcoin price has shot up past $60000, and its total value is over a trillion dollars! Can you believe it?

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Bitcoins Big Breakout: This Bullish Pattern Signals An Imminent Price Surge

Market analysts have recently observed a notable pattern in Bitcoin price chart, potentially signaling a shift in the market trend. Jake Wujastyk, a prominent market analyst, has particularly pointed out the emergence of an inverse head and shoulders pattern on Bitcoin’s daily candle chart. This pattern, coupled with Bitcoin’s closing price above a significant “volume shelf” signals an imminent upward trajectory for Bitcoin. Related Reading: Bitcoin Halving Prep: Analyst Outlines Key Points Ahead Of Event Bitcoin Surge On The Horizon In technical analysis, an inverse head and shoulders pattern is traditionally interpreted as a bullish signal. It is characterized by two lower peaks (shoulders) on either side of a far-down valley (head). The completion of this pattern occurs when the price breaks above the resistance level, known as the “neckline.” In Bitcoins case, this neckline also aligns with a ‘volume shelf,’ as Wujastyk indicates, a price level where many contracts have previously been traded, indicating strong support or resistance. #Bitcoin Inverse head & shoulders on the daily candle chart as price closed above the volume shelf today. $BTCUSD #Crypto pic.twitter.com/zE1lDJGnAM Jake Wujastyk (@Jake__Wujastyk) February 2, 2024 As Bitcoins price currently sits above the critical level of $43,000 up by 4.7% in the past week, it suggests a growing momentum among buyers, hinting at a potential uptrend. At the time of writing, Bitcoin has seen a 2.1% increase in its price over the past 24 hours, reaching $43,144. This price movement occurs against a backdrop of fluctuating daily trading volumes, which have decreased from over $25 billion to below $20 billion in a day. Notably, this pattern’s emergence is particularly noteworthy as Bitcoin options are set to expire, with 22,000 BTC options nearing their expiry date. These options have a Put Call Ratio of 0.66, a Maxpain point of $42,000, and a notional value of $960 million, as per data from Greekslive. For context, the Put Call Ratio is a key indicator in options trading, representing the number of put options relative to call options. A lower ratio suggests a bullish sentiment, as it indicates more call options (bets on the price rising) are being traded compared to put options (bets on the price falling). Market Trends And BTC Halving Anticipation The broader crypto market, including Ethereum (ETH) options, is also approaching expiration. 230,000 ETH options are set to expire, with a Put Call Ratio of 0.33, a Maxpain point of $2,300, and a notional value of $530 million. These figures suggest a more bullish outlook for Ethereum compared to Bitcoin. Furthermore, according to GreekLive, the market has seen subdued activity recently, with both realized volatility (RV) and implied volatility (IV) trending lower for major cryptocurrencies. Feb. 2 Options Data 22,000 BTC options are about to expire with a Put Call Ratio of 0.66, a Maxpain point of $42,000 and a notional value of $960 million. 230,000 ETH options are about to expire with a Put Call Ratio of 0.33, a Maxpain point of $2,300 and a notional value of pic.twitter.com/tEQWxRXxtB Greeks.live (@GreeksLive) February 2, 2024 However, introducing Bitcoin spot exchange-traded funds (ETFs) is beginning to attract incremental capital to the crypto market, compensating for the slowdown in grayscale sell-off. Meanwhile, the anticipation around Bitcoin’s halving event, scheduled for April 2024, is creating a buzz in the market. A recent survey by Bitget indicates a bullish sentiment among investors regarding the upcoming Bitcoin halving. 84% of respondents globally believe that Bitcoin will exceed its all-time high of $69,000 in the next bull run. Related Reading: Market Survey Signals Bull Run: Investors Predict Bitcoin To Surpass $69,000 Post Halving Predictions for Bitcoins price during the halving are varied, with over half expecting it to be between $30,000 and $60,000, while about 30% foresee it is surpassing $60,000. Featured image from Unsplash, Chart from TradingView

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Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days

Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and [...]

The post Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days appeared first on Crypto Breaking News.

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Ark Investment: Autonomous Vehicles to Boost GDP by $26 Trillion, Save Over 1M Lives by 2030

Ark Investment predicts autonomous vehicles could add $26T to global GDP and save over 1M lives by 2030, transforming economies and consumer experiences. (Read More)

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No, BlackRock Can't Change Bitcoin

Worried that BlackRock might change bitcoin's supply? Let me explain why that's not possible.

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Eric Trump predicts Bitcoin will hit $1 million, praises scarcity

Eric Trump predicted governments and institutions will adopt Bitcoin, highlighting that the early movers are set to win.

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Bitcoin gained 1,900% in Trumps first term: Will BTC price hit $1M this time?

Bitcoin could top $1 million per coin during Trumps second term, according to historical price data.

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Bitcoin Price and the Psychological Leap: The Journey from $100K to $1M

As Bitcoin hits new all-time highs, a psychological shift is underway.

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BitMEX Founder Predicts How Bitcoin Goes To $1 Million Under Trump

In his latest essay titled “Black or White?”Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, lays out an analysis predicting that Bitcoin could soar to $1 million. Hayes argues that forthcoming US economic policies under the second term of Donald Trump could set the stage for unprecedented Bitcoin growth. Hayes draws parallels between [...]

The post BitMEX Founder Predicts How Bitcoin Goes To $1 Million Under Trump appeared first on Crypto Breaking News.

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From Laser Eyes to Upside-Down Pics: The New Bitcoin Campaign to Flip Gold

Bitcoin hit $100K, but the next mission is clear: flip golds market cap. Join the #PicFlipTillGoldFlip campaign and help push Bitcoin to $1 million. From laser eyes to upside-down pics, its time to turn the financial world on its headliterally.

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