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Salim Ramji set to be Vanguard's new CEO, igniting talks on the company's crypto policy with his prior Bitcoin ETF experience at BlackRock.
The post Vanguard set to appoint ex-BlackRock ETF chief as next CEO: WSJ appeared first on Crypto Briefing.
Salim Ramji, a veteran of BlackRock, will become the new CEO of Vanguard and board member, starting July 8. This is the first time Vanguard has hired an outsider as CEO. Every other one was an internal star and former Bogle assistant. Ramji previously led BlackRock’s global ETF business and oversaw the filing and logistics for […]
Vanguard names former BlackRock crypto ETF lead as new CEO, sparking speculation of a pivot towards embracing bitcoin products after years of opposition.
Crypto analyst CobraVanguard has revealed the next price target for Dogecoin as an ascending triangle forms for the foremost meme coin. A rally to this price target could pave the way for the new highs, especially with the crypto market looking to be in rebound mode. Next Target For Dogecoin As Ascending Triangle Forms In a TradingView post, CobraVanguard set $0.197 as the next target for the Dogecoin price with an ascending triangle forming. He noted that this ascending triangle indicates a potential price increase. The analyst added that it is anticipated that the price could rise, aligning with the projected price movement of AB=CD. Related Reading: Dogecoin Price Turns Bullish With 1-Day RSI In Oversold Region, Why DOGE Can Reach $0.9 Meanwhile, CobraVanguard warned that it is crucial to wait for the triangle to break before taking any action. His accompanying chart showed that Dogecoin needs to break above $0.177 to confirm a break above the ascending triangle. A break above that target would then lead to a rally to the $0.197 target. Dogecoin already looks to be in rebound mode at the moment, alongside Bitcoin, which is nearing the $90,000 mark again. The foremost meme coin is nearing the $0.177 target for a break above the ascending triangle. As crypto analyst Kevin Capital suggested, DOGE will likely rally as long as BTC is in bullish territory. Crypto traders are also betting on a Dogecoin rally to the upside. Crypto analyst Ali Martinez revealed that 76.26% of traders with open DOGE positions on Binance futures are leaning bullish. This is particularly bullish because Binance traders have a good track record of being right most of the time. In another X post, Martinez revealed that whales bought over 120 million DOGE last week, which is also bullish for the foremost meme coin. DOGEs Market Structure Has Shifted In an X post, crypto analyst Trader Tardigrade revealed that Dogecoins market structure has shifted. This came as he noted that Dogecoin is recovering from an ascending triangle, forming higher highs and higher lows from lower highs and lower lows. Related Reading: Dogecoin Price Stages Bounce From Lower Border Of Second Falling Wedge, New Targets Unlocked? Based on this, the analyst affirmed that Dogecoin had shifted the market structure from a downtrend to an uptrend on the hourly chart since it just formed the second higher high. His accompanying chart showed that DOGE is eyeing a rally to $0.177 as it continues to form higher highs. Martinez raised the possibility of the Dogecoin price rallying to as high as $4 or even $20 in the long term. He stated that if DOGE holds above the $0.16 support at the lower boundary of an ascending channel, history suggests that it could rebound toward the mid-range at $4 or upper range at around $20. At the time of writing, the Dogecoin price is trading at around $0.174, up over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pexels, chart from Tradingview.com
After the U.S. investment advisor Vanguard chose not to offer spot bitcoin exchange-traded funds (ETFs), its CEO Tim Buckley, in a recent discussion, described bitcoin as a speculative asset, unfit for inclusion in long-term investment portfolios. Vanguard’s CEO Confirms: No Change in Bitcoin ETF Policy, Cites Speculation Concerns Reaffirming Vanguard’s perspective on bitcoin during a [...]
The post Not a Store of Value Vanguard CEO Labels Bitcoin Too Speculative for Long-Term Portfolios appeared first on Crypto Breaking News.
As part of his Cardano price prediction, crypto analyst CobraVanguard has revealed what needs to happen for ADA to never drop below the $0.8 level again. This comes amid the US SECs acknowledgment of Grayscales Cardano ETF filing, providing a bullish outlook for the crypto. How The Cardano Price May Never Drop Below $0.8 Again In a TradingView post, CobraVanguard noted that the Cardano price continues to move well within the wedge. The analyst claimed that if this wedge is broken, then market participants will no longer see ADA below $0.80. The analysts accompanying chart showed that a break above could see Cardano reclaim the $1 psychological price level. Related Reading: Cardano Price Eyes Breakout To $6 After Bouncing From 43% Drawdown This bullish outlook for the Cardano price comes as the US Securities and Exchange Commission (SEC) acknowledged Grayscales Cardano ETF filing. An ETF is bullish for the ADA price as it will attract institutional investors and drive more inflows into the coins ecosystem, which could spark a rally to new highs. However, in the meantime, the Cardano price looks to be in bearish territory, as it has declined alongside the broader crypto market. ADA is currently below the $0.8 price level, which could represent a great buying opportunity, especially if the crypto eventually never sees this price level again, as CobraVanguard predicted. Regarding the short-term bearish outlook for the Cardano price, crypto analyst CryptoBusy also noted that ADA is barely clinging to its 0.5 Fibonacci support level. The analyst added that a breakdown below this Fib support could lead to a straight drop to the $0.618 price level. CryptoBusy suggested that this breakdown will likely happen as ADA is facing significant selling pressure. A Mega Bounce Is Coming For ADA In an X post, crypto analyst Sebastian told market participants to get ready for a mega bounce for the Cardano price after this market downtrend. In another post, he remarked that the worst time to sell is right now. He added that in a month, market participants will wish they had bought more. According to him, the market is a game of emotions and the more people capitulate, the higher prices will go eventually. Related Reading: Possible Deep Correction Could Push Cardano Price To $0.43, Heres How Meanwhile, crypto analyst Ali Martinez recently noted that the most critical support zone for the Cardano price is between $0.67 and $0.80. He remarked that as long as this level holds, ADAs bull run remains intact. His accompanying chart showed that ADA could still reach its current all-time high (ATH) of $3.10 and possibly surpass this price level in this market cycle. At the time of writing, the Cardano price is trading at around $0.65, down over 12% in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
Bitcoin mining is a topic that keeps popping up recently on the news concerning the crypto industry. And Vanguard, one of the world’s largest investment firms, has joined in on the action, as it has increased its stake in Bitcoin mining stocks to over half a billion dollars. Vanguard Buys More Bitcoin Mining Stocks When it comes to investing in the crypto industry, Vanguard seems to be exercising more caution compared to others. While investment companies like BlackRock are filing for Spot Bitcoin ETFs, Vanguard continues to increase its stake in Bitcoin mining. Related Reading: Conflux (CFX) Climbs By 11% As Bank of China Begins Sim Card Payment With Digital Yuan According to its recent filings with the Securities and Exchange Commission (SEC), Vanguard, one of the world’s largest investment companies controlling assets worth over $7.2 trillion, has been increasing its investment in bitcoin mining companies. Recently, the investment company firm increased the number of Marathon Digital shares it had by 60% from 10.9 million shares to 17.5 million. At the same time, it has increased the number of Riot Blockchain shares it owns to 17.9 million, an 18% increase from its previous 15.2 million shares. As a result of these investments, Vanguard now holds 10.24% of Riot and 10.31% of Marathon. Based on the current prices of the two companies’ stocks, this comes close to $600 million. Stock Price Surges In Reaction To News RIOT and Marathon Digital are two of the most successful cryptocurrency mining companies in the United States, with both planning to expand their mining operations. As one of the largest investment firms in the world, Vanguard’s move signals its belief in RIOT’s long-term growth potential. BTC price still holding above $30,000 as institutional interest grows | Source: BTCUSD on TradingView.com RIOT’s share prices have already responded positively to this news, recording a 27% gain in the past 5 days, and it is now trading at $17.48, its highest price in over a year. Marathon Digital’s stock also followed suit, spiking 10% to now trade at $17.26. The Future of Bitcoin Mining Bitcoin is one of the few cryptocurrencies still operating a proof-of-work consensus algorithm, and its mining seems to have been seeing increased activity in recent times as miners reignite their activities on the blockchain. According to a report by published by Coin Metrics on July 5, Bitcoin miners generated a revenue of $2.4 billion during the second quarter of 2023. Out of this amount, $184 million came from transaction fees alone, representing a figure higher than the five preceding quarters combined. Related Reading: FTT Up By 21% Despite FTX Claims Portal Troubles Miners are already preparing for the next Bitcoin halving event, which will slash block rewards from 6.25 BTC to 3.125 BTC. This will drastically reduce the rate at which new BTC is being brought into circulation, possibly triggering the next bull run. Featured image from iStock, chart from TradingView.com
Crypto analyst CobraVanguard has revealed that the Bitcoin price has entered an ascending phase after a cup and handle formation at the $105,000 level. Based on this bullish pattern, the analyst highlighted the price target that BTC could reach as it enters this ascending phase. Bitcoin Price Could Rally To $123,000 As It Enters Ascending Phase In a TradingView post, CobraVanguard predicted that the Bitcoin price could rally to $123,000 as it enters the ascending phase by the cup and handle pattern. According to the analyst, BTC is in a large cup and handle, and if it follows this pattern, its price will have a nice rally. His accompanying chart showed that the flagship crypto could hit the $123,000 price target. Related Reading: Bitcoin Price Prediction: Analyst Charts Roadmap To $117,000, What You Should Know The analyst also revealed his golden analysis for the Bitcoin price, in which he revealed that the flagship crypto could rally to as high as $260,000 in this market cycle. His accompanying chart highlighted an ascending channel, which showed that BTC could hit this target if it reached the upper part of the channel. Interestingly, other crypto analysts have provided higher targets for the Bitcoin price in this market cycle. Crypto analyst Tony Severino recently predicted that BTC could reach as high as $321,000 in this cycle. He highlighted a potential head and shoulder pattern on BTCs chart and stated that the flagship crypto could reach this target if the pattern were valid. He also raised the possibility of the Bitcoin price rallying to $345,000. Severino explained that BTC could reach this ambitious price target if it touches the upper boundary of the primary uptrend channel over the last eight years or thereabouts. Meanwhile, for his more conservative targets, he predicted that Bitcoins price could top between $158,000 and $191,000 in this market cycle. Why BTC Hasnt Reached Its Market Top Yet Amid the bearish signals pointing to a market top, crypto analyst Ali Martinez outlined several reasons why the Bitcoin price still has more room to grow in this bull run. First, he noted that cycle shifts typically occur when BTC surpasses 2.4x the 200-day Simple Moving Average (SMA), which is currently at $184,600. Related Reading: Bitcoin Long-Term Holders Officially Enter Into Greed Territory, Is This Good Or Bad For Price? Furthermore, Martinez stated that the Mayer Multiple suggests the Bitcoin price has more upside, with a potential market top of around $182,000. From a technical perspective, the crypto analyst highlighted Bitcoins cup-and-handle breakout, which points toward a target of $276,400. Lastly, he alluded to the halving cycle theory, which suggests that BTC could reach a market top between May and October 2025. At the time of writing, the Bitcoin price is trading at around $104,700, down almost 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from iStock, chart from Tradingview.com
As other institutions eagerly embrace Spot Bitcoin ETFs, Vanguard decides to restrict customer access.
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