Expert Backlash: Pro-Lawyer Slams Gensler for Spreading False Information on Crypto
Well-known lawyer and cryptocurrency enthusiast, Bill Morgan, has taken to Twitter to vociferously express his disapproval of recent statements made by the head of the Securities and Exchange Commission (SEC), Gary Gensler. Morgan discredited Gensler’s contention that all cryptocurrencies, bar Bitcoin, are securities, a declaration he feels is baseless and ill-advised.
The social media saga started when Jesse Hynes, another prominent legal voice in the crypto sector, questioned the SEC’s opaque figures concerning digital asset securities. Referring to the SEC’s claim of identifying “at least nine” such assets, Hynes argued that, considering the SEC’s assertion of having clear rules, the lack of an exact count hints at ambiguity rather than precision.
An SEC Announcement Triggers Reactions
The Twitter conversation between Morgan and Hynes stems from the SEC’s recent disclosure that Ishan Wahi, a former product manager at Coinbase, and his brother, Nikhil Wahi, agreed to settle insider trading charges. The Wahi brothers allegedly profited by trading ahead of multiple announcements about the listing of certain crypto assets on Coinbase.
Court filings reveal that the SEC’s lawsuit, filed in July 2022, accused Ishan Wahi of sharing confidential information about the timing and content of upcoming Coinbase listings with Nikhil and his friend Sameer Ramani. These illicit tips led to the trio purchasing at least 25 crypto assets, and profiting by selling them post-announcement.
Morgan’s Rebuke
In response to this saga, Bill Morgan has slammed Gensler, arguing that Gensler’s blanket statement on cryptos, excluding Bitcoin, being securities is a distortion. He emphasized that the SEC couldn’t have investigated all 20,000 digital assets in existence, thus making Gensler’s statement a fabrication.
The backlash from Morgan underlines the ongoing tension and ambiguity in the relationship between the SEC and the world of cryptocurrencies. The debate surrounding the classification of various digital assets as securities or commodities remains a point of contention, highlighting the need for more precise and comprehensive regulatory standards in what is the largest crypto market in the world.
Crypto Market Analysis: Expert Raises Bullish Alert For Bitcoin, Litecoin & Polygon
Renowned and acclaimed crypto strategist, Michaël van de Poppe, has shed light on three prominent digital assets: Litecoin (LTC), Polygon (MATIC), and Bitcoin (BTC).
Litecoin’s Halving Rally
Request 01 – $LTC
Many squigglies on this chart, but higher timeframe resistance is at $93.
Currently, support found at $82 and a strong bounce -> weekly candle looks good.
Next week breaking through $93 and the Halving rally might start. pic.twitter.com/k8Xtp70Tai
— Michaël van de Poppe (@CryptoMichNL) May 27, 2023
Van de Poppe underscores the critical juncture for Litecoin on Twitter, explaining that the next few days will be crucial for its price action. He identifies the immediate resistance level at $93, which needs to be surpassed for the halving rally to commence. Currently, Litecoin finds support at $82, and a strong bounce at this level indicates a positive weekly candle.
Related: Litecoin Halving Event Sparks Frenzy: Here’s What Investors Can Expect
Van de Poppe suggests that breaking through $93 next week could trigger the anticipated halving rally. The third halving event for Litecoin is scheduled to take place on August 2nd, 2023. At the time of writing, LTC is trading at $91.32.
Polygon (MATIC) To The Moon!?
The analyst also closely monitors Polygon (MATIC), a layer-2 scaling solution. He believes that if MATIC can surpass a key resistance level, it could experience a significant rally of up to 61%. He highlights the importance of flipping the resistance at $0.95, which would pave the way for accelerated growth toward the $1.30-$1.50 range. However, if MATIC fails to breach this level, a short position may be activated, and long positions can be considered at $0.75. As of the time of writing, MATIC is valued at $0.94.
Bitcoin Market Outlook
For Bitcoin (BTC), Van de Poppe expresses an optimistic viewpoint, claiming that the “sky is the limit” for the leading cryptocurrency now that it is trading above $27,400. He points out a positive retest of Bitcoin at $26,600, suggesting a potential continuation of its upward trend. Bitcoin is currently trading at $28,133.
However, you must take this as a mere perspective. As always, market conditions can change, and investors are advised to conduct their research before making any investment decisions.
Can Ethereum Beat Bitcoin? Crypto Expert Reveals Surprising Insights
Cryptocurrency strategist Benjamin Cowen has shared his insights on the potential performance of Ethereum (ETH) compared to Bitcoin (BTC) in the near future. In a recent YouTube video, Cowen highlights key trends in the crypto market that all investors and traders should turn their focus toward.
Bitcoin Dominance On The Rise
Cowen points out that the Bitcoin dominance chart (BTC.D), which indicates the proportion of the total crypto market capitalization held by Bitcoin, is showing a strong upward trend; suggesting that the dominance of the crypto is increasing in the markets.
On the other hand, he observes that the Ethereum versus Bitcoin chart (ETH/BTC) is moving in the opposite direction. He notes that the chart is consistently forming lower highs, indicating that Ethereum’s performance relative to Bitcoin is declining.
Predictions For The “Flippening.”
Cowen cautions against premature conclusions about the “flippening,” a hypothetical event in which Ethereum surpasses Bitcoin in market capitalization. He explains that each time the ETH/BTC chart forms a lower high, there is often a surge of excitement in the community, with people speculating that the flipping is imminent. However, history has shown that these lower highs have not led to a significant shift in the market dynamics.
Liquidity Hampers ETH/BTC Decline
Cowen also discusses why the ETH/BTC pair may not be experiencing as steep a decline as it did during the bear market of 2018-2019. He attributes this to the increased liquidity present in the system today. The abundance of liquidity has made it more challenging for the Federal Reserve, the central bank of the United States, to swiftly remove excess liquidity from the market. Nevertheless, Cowen suggests that liquidity is gradually being reduced.
Overall, Benjamin Cowen’s analysis indicates that while Bitcoin’s dominance in the crypto market is increasing, Ethereum’s performance relative to Bitcoin has been on a downward trend. He advises caution and highlights the historical pattern of lower highs not leading to the anticipated flipping. He also emphasizes the impact of increased liquidity, which has slowed down the rate of decline for the ETH/BTC pair compared to the previous bear market.
Cardano News : Crypto Expert Forecasts Game-Changing Move for ADA Price
Noted crypto analyst and Crypto Capital Venture founder, Dan Gambardello, offers insights into Cardano’s future, highlighting its promising potential amidst criticism and hurdles.
Cardano Faces Criticism
Controversy surrounds Cardano as users complain about transaction times of up to 30 minutes on the network, contrasting its theoretical capability of handling 1 million transactions per second.
Dan Gambardello dismisses fear, uncertainty, and doubt (FUD) surrounding Cardano, highlighting his own positive transaction experiences, executed within minutes. He explains possible delays resulting from market volatility affecting swap execution and asserts that similar issues are prevalent across various blockchains.
According to Dan’s technical analysis, Cardano finds itself at a critical point, poised for a significant breakout or dip. The coin’s position between support and resistance lines suggests an imminent major move.
Also Read: Cardano Reaches Crucial Level At $0.36! Will ADA Price Rebound Or Plunge Further?
Bearish or Bullish? Cardano’s Future Outlook
Should Cardano fail at the support area, a short-term dip may loom. Conversely, a breakthrough of resistance could ignite an upward trend, setting the stage for a long-term bullish run.
The current sideways trading of Cardano is likely to yield substantial price action soon, potentially shaping the future trajectory of the cryptocurrency.
Here’s What Next For Bitcoin & Ethereum Price This Week – Expert Reveals Critical Price Levels
Crypto enthusiasts are eagerly watching Ethereum (ETH) and Bitcoin (BTC) as a top analyst, Justin Bennett, shares valuable insights on their current status.
Ethereum at $1,890 next week?
According to Bennett in his recent tweet, Ethereum is at a critical point of around $1,835. This level controls ETH’s next move. Will it rise above $1,890 next week? Will they resist? Ethereum is currently valued at $1,831, below Bennett’s important threshold. However, breaking above $1,835 might push Ethereum to $1,890 in the coming week, while resistance could spell a struggle.
Ethereum’s price is currently at $1,831, close to this critical level.
Bitcoin Price Analysis
In relation to this, Bennett highlights the importance of Bitcoin’s performance in today’s close in his recent Daily Price Action newsletter. It’s all getting heated as Bulls are striving to reclaim the $26,500-$26,700 range and the daily close will provide crucial insights into the market’s direction. The crypto community eagerly awaits the outcome.
GM fam. ☕️$BTC bulls are trying to reclaim that $26,500-$26,700 area today.
Daily close will be key!#Bitcoin https://t.co/N87DeO7DEc pic.twitter.com/2deq4ZPD2G
— Justin Bennett (@JustinBennettFX) May 26, 2023
Notably, Bitcoin’s recent close below $26,500 which happened first time since mid-march, a support level held for months, has raised concerns. Currently, BTC is testing this level as resistance, with bulls aiming for a close above it. If successful, the $26,500-$26,700 range may regain its status as support. However, if BTC fails to reclaim this range, a potential decline towards $25,000 is projected by the analyst.
The trajectory of Bitcoin, if it tests the support level, depends on how the market responds to the channel support and the $25,200 horizontal level. Bennett advises against ruling out a reclaim this week, considering the market’s indecisiveness in recent times. A daily close above $26,500 and $26,700 would confirm a false breakdown and pave the way for $27,600, with a potential liquidation cluster at $27,800.
Top Expert Outlines Why The XRP Army Is The Strongest In The Cryptoverse
Renowned Forbes contributor Sam Lyman ignites conversation around the influential force known as the ‘XRP Army.’ Comprising passionate XRP enthusiasts, this collective has emerged as a critical player in the cryptocurrency realm, amid a surge of legal challenges gripping the crypto industry.
Right now, the #XRPArmy is carrying all of crypto on its back.
If the court rules in favor of @Ripple, it would provide a critical legal precedent for the industry that would protect digital assets from further overreach by the SEC.https://t.co/ToM9ZygXq0
— Sam Lyman (@SamLyman33) May 25, 2023
Regulatory Confrontation
The XRP Army takes center stage in the escalating confrontation with regulatory entities. Their actions hold significant weight in the crypto world, as a victory for Ripple could set a precedent that safeguards digital currencies from perceived regulatory overreach by the U.S. Securities and Exchange Commission (SEC), ultimately protecting the entire industry.
Ripple’s CEO Anticipates Legal Resolution
Ripple CEO Brad Garlinghouse expresses optimism about the impending conclusion of Ripple’s lengthy legal skirmish with the SEC. During a recent interview, he confidently predicts that the case could reach a resolution in a matter of weeks, rather than months, especially considering the recent court proceedings involving the Hinman emails.
The Ripple-SEC Dialogue Expands
Crypto attorney and dedicated XRP advocate John Deaton playfully responds to Garlinghouse’s prediction on Twitter, attracting the attention of other legal heavyweights such as Jeremy Hogan and James K. Filan. Their engagement further amplifies the discussion surrounding Ripple’s legal battle and its potential implications.
Judge’s Ruling Unveils Crucial Evidence
A crucial legal development arises as Judge Analisa Torres denies the SEC’s request to seal the ‘Hinman documents.’ These internal discussions within the securities regulator revolve around a 2018 speech by William Hinman, the former Division Director. Hinman’s statement that Bitcoin (BTC) and Ethereum (ETH) do not meet the criteria for classification as securities becomes a pivotal element in this high-stakes court case.
Also Read: Ripple Price Prediction 2023, 2024, 2025, 2026 – 2030
The XRP Army and Ripple’s legal battle continue to captivate the crypto community. With legal heavyweights engaging in the discussion and crucial evidence coming to light, the resolution of this legal saga draws nearer.
Innovation Or Obstruction? Crypto Expert Lashes Out At SEC’s Regulatory Approach
Amidst the legal battle between the Securities and Exchange Commission (SEC) and Ripple, the ramifications of the SEC’s hardline stance on crypto regulation are resonating throughout the industry.
Crypto luminary Bob Ras, the mind behind Sologenic, responded to a recent tweet by Forbes, offering a critique of the SEC’s approach to crypto regulation and its impact on the burgeoning field.
SEC’s Tight Grip Hindering Innovation
Ras painted a grim picture of the consequences of the SEC’s aggressive crypto policies. He suggested that the regulatory body has seldom appeared more vulnerable regarding the cryptocurrency issue. Their attempt to pigeonhole almost all digital assets as securities, he says, shows a fundamental misunderstanding of these groundbreaking technologies’ distinct features.
1/7 The "Ripple Effects" of the SEC's aggressive approach to crypto regulation are being felt throughout the industry. The current situation reveals that the SEC has never been in a weaker position on Crypto topic in the past. @ForbesCrypto @Forbes https://t.co/WaORc3U1Cl
— Bob Ras (@bobrasX) May 23, 2023
He contends that companies like Ripple are being dragged into avoidable legal battles due to this miscalculation. The SEC’s relentless pursuit of cryptocurrency projects, often with negligible justifications, has boomeranged back on the agency itself, stifling innovation and prompting a sizable number of projects to seek friendlier shores overseas.
Ripple: A Victim of Regulatory Missteps
As Ras sees it, Ripple and other firms are grappling with this hostile climate. The situation extends beyond merely hampering innovation—it affects jobs, investments, and capital that the U.S. stands to lose. The SEC’s strategy, he suggests, is akin to an outmoded lawmaker attempting to enforce obsolete laws on a technology they can barely grasp.
Ras asserts that cryptocurrency is a new asset class, and trying to treat them purely as securities is to disregard their unique attributes and potential.
When Will We Get Sensible Regulation?
Ras believes the SEC should have been more judicious and put in place a regulatory framework that takes into account the nature of these new assets. The latest courtroom events surrounding Ripple have highlighted the SEC’s fluctuating position, suggesting plausible arguments that not all crypto assets meet the criteria to be considered securities. This could also hold significance for other companies, like Coinbase.
“XRP Tokens are Not Securities”: Legal Expert Challenges SEC
In a recent series of tweets, Bill Morgan, a digital asset enthusiast, and lawyer, expressed his concerns about the Securities and Exchange Commission’s (SEC) stance on Ripple’s XRP sales. Morgan argues that the SEC’s attempts to categorize all XRP tokens as investment contracts face a significant hurdle when considering a “small subset” of sales made to On-Demand Liquidity (ODL) customers.
XRP fails to qualify as a security
“They just don’t seem to fit any part of the Howey test. No investment. Even the SEC alleges they are dealt with by ODL customers immediately. No expectation of profit because they are being used as a bridge, not held. No common enterprise.”
Morgan highlights that the sales to ODL customers do not appear to meet the criteria set by the Howey test, a legal framework used to determine whether an investment qualifies as a security. He points out that these sales do not involve investment intentions, as ODL customers use XRP as a bridge currency and promptly convert it. Additionally, there is no common enterprise, as ODL users are merely customers utilizing a product.
This poses a challenge for the SEC, as considering these sales as exceptions would undermine their argument that all XRP is a security or represents an investment contract. The notion that XRP itself is security collapses, as all XRP tokens are fungible.
Also Read: Secret Ripple-SEC Discussions Exposed: Will XRP Lawsuit Take A U-Turn? – Coinpedia Fintech News
Morgan’s Arguments
Morgan points out two other exceptions that challenge the SEC’s argument: the giveaways of XRP to early adopters and developers, as well as donations to charities. The SEC has made no claims regarding these transactions, indicating that those XRP tokens were not considered investment contracts.
However, the SEC’s assertion that all XRP tokens are fungible creates a predicament. As Morgan explains, if some XRP tokens given away, gifted, or sold to ODL customers are not investment contracts or securities, then it logically follows that all other XRP tokens, which are fungible with them, cannot be considered securities either.
Morgan Divulges His XRP Holdings
In a separate tweet, Morgan clarifies that the XRP he owns were some of those initially given to early adopters or gifted to charities, which the SEC does not allege as investment contracts. He asserts that his XRP holdings, although fungible with other XRP tokens, are unequivocally not securities, attributing his ownership to fortunate circumstances.
Bloomberg Expert Raises Red Flags: Is Bitcoin Bull Run Coming To An End?
Bitcoin’s future is shrouded in uncertainty, according to Bloomberg Intelligence’s senior macro strategist, Mike McGlone.
The expert highlighted the potential risks facing the benchmark cryptocurrency and raises concerns about its current price level. Find out more- read on!
Caution as Bitcoin Hovers at $27,000
Bitcoin experienced a substantial liquidity pump at the end of 2019, catapulting its value to new heights. However, McGlone suggests that this historical event could indicate a reversion to the mean, potentially leading to a downward correction. With Bitcoin hovering around $27,000 on May 19, there are valid concerns about its ability to sustain its upward trajectory.
McGlone points to the 52-week moving average of Bitcoin, which shows a downward trend compared to the remarkable surge witnessed at the beginning of 2020. Although Bitcoin recovered from a low point in 2022 when it dipped to around $15,000, its value surged to approximately $30,000 in April 2023.
Bitcoin’s Market Sentiment
This rapid increase experienced by the crypto may suggest an overbought market, raising questions about the sustainability of Bitcoin’s current price level. Understanding the patterns of Bitcoin’s cycles of ups and downs, often influenced by liquidity injections or removal, is crucial when assessing its future direction, according to McGlone.
Related: Bitcoin Bulls Exhausted! Peter Brandt Predicts Massive Market Shakeup – Coinpedia Fintech News
Interestingly, while the Federal Reserve has tightened its policies twice despite concerns about a potential bank run, McGlone believes this unwavering stance may signal deflationary pressures on risk assets. He notes that both the copper market and cryptocurrencies, with Bitcoin being the prime example, appear to be taking heed of these warnings, in contrast to the resilience displayed by the stock market.
Do we see BTC breaking its price barriers in June/July as predicted or should we prepare for more bloodbaths?
As Bitcoin teeters on the edge of a potential reversion, investors and enthusiasts alike are left pondering its next move. Till we have a clearer picture, stay informed, adapt your strategy, and ride the waves of opportunity when they present themselves.
Crypto Market Outlook: Expert Predicts Bitcoin & Major Altcoins To Rebound In 2023 Q3
After more than eight weeks of attempting to rally above $31k, Bitcoin bulls have succumbed to mid-term selling pressure. According to the latest crypto market data, the price of Bitcoin dropped nearly 5 percent, hitting a monthly low of around $26,188 during the early London trading session. Similarly, Ethereum (ETH), the second most valuable digital asset by market capitalization, also experienced a five percent decline, trading at approximately $1,759 at the time of publication.
Crypto Market Cap Falls, Bitcoin Dominance Declines
Consequently, the total crypto market capitalization plummeted by about 3.3 percent, resting at around $1.14 trillion on Friday, May 12. With Bitcoin’s dominance rapidly dropping below 48 percent, as indicated by market data from TradingView, crypto traders are left contemplating whether the long-awaited altcoin season is poised to materialize.
Consider Both View Points: Bitcoin Price Prediction: BTC Price to Hit New All-Time High in 415 Days, Predicts Crypto Analyst – Coinpedia Fintech News
Increasing Volatility Expected as Global Recession Fears Rise
Given the mounting probability of a global recession amid rising inflation, experts anticipate a significant increase in crypto volatility in the forthcoming months. The United States debt ceiling debate has left the Federal Reserve torn between implementing monetary tightening policies to achieve a 2 percent inflation target. Furthermore, traditional banks are grappling with the challenges posed by the Web3 industry and other fintech companies, which have been driving recent bank runs.
Related: Can Crypto Markets Survive A Massive Recession In The USA? – Coinpedia Fintech News
Short Squeeze Looms
Over the past 24 hours, more than 82 percent of long traders in the crypto market have been liquidated, according to reports from Coinglass. Consequently, these traders are likely to shift their focus to short selling, potentially fueling a long squeeze. As a result, the crypto market may experience further decline in the coming days due to increased panic selling.
The Future Is Bullish
Renowned trader and investor @CryptoTony_ on Twitter has expressed optimism about the long-term prospects of the crypto market, suggesting a potential rebound in the third quarter of 2023.
XRP Price Prediction 2023: Expert Predicts Potential High & Low Levels
The ongoing lawsuit against Ripple Labs has left many wondering about the future of XRP, the cryptocurrency associated with the company. Despite the legal challenges, finance experts have begun to speculate on XRP’s potential price by the end of 2023, taking into account its unique features and partnerships.
Experts Predict XRP’s Price by December
Investment analyst Tim Doman acknowledges the impact of the lawsuit on XRP’s price, but he also notes that recent court rulings seem to favor Ripple. This has led to positive market sentiment, as XRP boasts a number of desirable qualities. As an excellent bridge between currencies, it is open-source, permissionless, and carbon-neutral. Additionally, transactions on the XRP Ledger (XRPL) settle in just 3-5 seconds, which is an impressive feat. He expects XRP to be worth “around $0.54” by year’s end.
Another expert, Donny Gamble, highlights several reasons why XRP may experience growth in the future. Firstly, the XRP development team is working to enhance its technology and establish partnerships with major financial institutions worldwide. Increased adoption as a payment method could significantly drive growth for the asset.
Secondly, XRP’s scalability gives it an advantage over other cryptocurrencies, which will become increasingly important as demand for cryptocurrencies continues to grow.
Daniel Wilczyinski, the Founder and CEO of HardBlock, points out that several key factors will determine XRP’s future. The resolution of the SEC lawsuit is one of the most significant, as it could greatly impact XRP’s price.
Increased adoption by financial institutions and favorable regulatory developments could also boost its value. However, the competitive landscape and overall market sentiment will play crucial roles as well, says Wilczyinski. He believes the coin will end the year above $0.50.
Ripple’s Legal Battle Continues
John Deaton, a pro-Ripple lawyer, has been providing updates on the Ripple Labs vs. SEC lawsuit, with most of his comments favoring the blockchain company. Deaton argues that digital assets, including Ripple, are not securities, although they can be considered as such when traded in the primary market.
The legal expert maintains that Bitcoin and Ripple are not securities based on the Howey Test, and he believes that any interpretation that tokens are investment contracts is false. This has not been contested by the SEC.
Altcoins Hover on the Brink of a 30-50% Tumble! Here’s What Expert Predicts on ARB, APT and STG Price
The crypto market has always been a rollercoaster of fortune, a frenetic ballet of peaks and troughs that can create or destroy millions in moments. Now, it seems, the altcoin market is set to perform its most dramatic pirouette yet as they have reached the support line. According to market experts and analysts, altcoins are teetering on the edge of a significant tumble, potentially plummeting by 30-50%.
Are Altcoins in Correction Or Crisis?
Just recently, the market witnessed a slight upward correction as positive consumer price index (CPI) reports created a brief surge of optimism among investors. However, the market’s joy was short-lived, as a few hours later, it took a brutal nosedive. This sudden shift in dynamics has been interpreted by many as a classic “buy the news, sell the rumor” event.
The CPI report was a beacon of hope, an opportunity for the market to regain some lost ground. But as the saying goes, “what goes up, must come down,” and in the realm of crypto, it seems that even the briefest ascent is followed by a swift and merciless decline.
Following Bitcoin’s steep decline, the altcoin market sharply broke below multiple support levels, and traders are wondering if this is a correction or a crisis. According to prominent altcoin trader Alt Sherpa, altcoins have the possibility to drop by 30-50% from their current levels as they tumble near the support line. However, traders may witness some bounces in between.
Stargate Finance (STG) Price Analysis
As of writing, the STG token’s price trades at $0.6, declining over 4% in the last 24 hours. STG price has recently broken below its immediate support level at $0.62, and a breakout below the monthly support at $0.57 will slump the token to the bottom levels.
AltSherpa predicts that the token will experience a decline of over 43% if it breaks the support line at $0.57. STG token may touch the next support of $0.35.
Arbitrum (ARB) Price Analysis
ARB token’s price is currently hovering near $1.12, with a surge of over 1% from yesterday’s rate. ARB is trading on the verge of its monthly support level; however, bulls have successfully sent the price above the 23.6% Fib level.
If the ARB price loses confidence near $1.15, it may witness a downward correction and break below multiple support levels. AltSherpa predicts a drop of over 50%, and ARB price may head toward $0.56.
Aptos (APT) Price Analysis
Aptos has witnessed a severe plunge in the last few hours and is currently trading at $8.02, with a decline of nearly 2% from yesterday’s price. Aptos has already formed a low near $7.75 and is trying to extend its bearish rally below it.
AltSherpa predicts Aptos price may touch $4.9 if it fails to attain enough buying pressure to surge above its 23.6% Fib level.
Ripple Vs SEC Case Will Make or Break the Crypto Industry, Claims Expert
The Ripple-SEC legal tussle has sent shockwaves throughout the cryptocurrency industry, and everyone is eagerly anticipating the outcome.
In the midst of this tension, Nick Regan, an expert in the crypto space from Cheeky Crypto, delves into the latest developments and what they could mean for the wider market.
Deaton vs. SEC’s Former Attorney
The Ripple community has been closely following a recent argument between John Deaton, a well-known lawyer in the crypto space, and a former SEC attorney named Marc Fagel. The SEC attorney claimed that Ripple violated Section 5 of the Securities Act and that the agency has a better chance of winning the case. However, he also contradicted himself by saying that Ripple will ‘probably’ win in another discussion. This shows how unsure even SEC’s people are.
Related: Ripple News: Pro-XRP Lawyer Explains How the SEC is Taking a ‘Shorthand’ Approach in the Case
The Infamous Howey Test
Deaton countered the former SEC attorney’s initial argument by emphasizing the significance of the Howey Test. He said that while most initial coin offerings (ICOs) have violated Section 5, the SEC’s case against Ripple is flawed due to its broad approach. In addition, Deaton highlighted that the Howey Test has never been applied to secondary sales of an asset, which further complicates the SEC’s argument.
Ripple Win Could Boost Crypto Industry
According to Nick Regan, a win for Ripple would be beneficial for the entire crypto industry. If Ripple loses, the SEC could potentially use this case as a basis to label other cryptocurrencies as securities, which would have a negative impact on the industry that is starting to enter a bull market after a long and intense bear one. A Ripple win, on the other hand, would set a precedent for defending cryptocurrencies and foster a more favorable environment for growth and innovation.
The XRP Price Outlook
As the legal battle unfolds, Regan analyzed XRP’s price charts and shared his thoughts on its future trajectory. He believes that once the case is resolved, and XRP gains the necessary regulatory clarity, its price could surge significantly. This would likely be driven by the relisting of XRP on US exchanges and increased investor confidence in the asset.
At press time, XRP was worth $0.43 and it has been down by over 5% in the past twenty-four hours.
Bitcoin Price Poised To hit $30,500 Following Positive Jobs Report, Expert Predicts
Michaël van de Poppe, a well-known cryptocurrency analyst, recently shared his thoughts on Twitter about the potential for Bitcoin to surge past the $30,000 mark. According to Michael, Bitcoin’s continued strength in flipping levels and re-entering its range is a positive sign.
He said he is particularly interested in seeing the digital currency maintain support at the $28,900 level, which could then facilitate a climb toward $30,500. It is worth noting that important news related to unemployment is scheduled for release soon, which may have a direct impact on Bitcoin’s price.
Bitcoin’s Steady Climb Since the Beginning of the Year
The largest cryptocurrency by market capitalization has exhibited impressive growth this year, boasting a 74% increase since January. At one point, Bitcoin even managed to break the significant $30,000 price threshold. This momentum, coupled with the digital asset’s technical analysis, suggests that Bitcoin could be gearing up for another bullish move.
Consolidation and Ascending Triangle Pattern
Following its brief breach of the $30,000 resistance level in April, Bitcoin has been consolidating around $28,500. This consolidation has led to the formation of an ascending triangle pattern, which traditionally indicates that a strong upward movement may be on the horizon. If this pattern plays out, Bitcoin could soon break past the $30,000 level within the next few weeks.
Potential Move Toward $40,000
Once Bitcoin manages to surpass the $30,000 mark, its next major resistance level is estimated to be around $40,500. This means that should the digital currency break through $30,000, there may be little preventing it from continuing its ascent to the $40,000 price range.
Michaël van de Poppe’s analysis of Bitcoin’s current price action highlights the cryptocurrency’s potential for further gains, particularly if it can maintain support at $28,900.
Bitcoin Price Analysis: BTC Price Set To Surge 65% As Altcoin Season Nears, Predicts Expert
Bitcoin, the world’s most popular cryptocurrency, could be in for a remarkable uptick in the coming weeks, potentially triggering an altcoin season, according to Kevin Svenson, a well-known cryptocurrency analyst. In this article, we delve into Svenson’s predictions and explore what they mean for investors.
Bitcoin Primed for Significant Uptick
Svenson notes that Bitcoin is currently establishing a higher low along a parabolic trajectory, potentially leading to the next substantial thrust upward toward $48,000. This increase would signify a 65% gain from its current price, presenting a significant opportunity for investors.
Also Read: Bitcoin Price Prediction 2023, 2024, 2025, 2026 – 2030
Altcoin Season on the Horizon
Svenson believes that after Bitcoin nears the $50,000 mark, altcoins may begin to experience their own rallies. This pattern corresponds to Bitcoin’s behavior months before its last halving, with the next halving scheduled for early 2024. Svenson envisions a final dramatic peak in Bitcoin dominance before the onset of the altcoin season.
Investing in the Altcoin Market
Regarding the optimal time to invest in the altcoin market, Svenson approximates that June or July could be prime opportunities. Forward-thinking investors might even consider entering the market earlier in anticipation of this trend.
Related: Top 10 Altcoins Poised To Explode In the Month Of May – Coinpedia Fintech News
Bitcoin’s Performance
At the time of writing, Bitcoin’s value stood at $28,095. Its dominance rate, a metric indicating Bitcoin’s share of the overall crypto market, has risen significantly since the beginning of the U.S. banking sector crisis. TradingView data reveals that the dominance rate has escalated from 42% to 22-month peaks close to 49%, demonstrating Bitcoin’s superior performance compared to the broader market.
Federal Reserve Policies and Cryptocurrency
The continuing banking crisis has intensified expectations of additional liquidity easing measures by the Federal Reserve (Fed), implying an impending dollar depreciation. On Wednesday, the Fed increased interest rates by 25 basis points. The projected dollar weakness and adjustments to interest rates might further bolster Bitcoin’s bullish trend in the months ahead, making 2023 as bullish for crypto as many analysts have predicted.
Top Expert Highlights Bitcoin’s Resilience and Altcoin Season Possibilities
In a recent analysis, crypto analyst and famous host of Crypto Banter Jonathan Fiorenza shares valuable insights into the current state of the crypto market, particularly focusing on Bitcoin’s resilience and the potential for an altcoin season.
With a macro perspective in mind, the expert examines Bitcoin’s price action, providing traders with key levels to watch and potential trading opportunities.
Bitcoin Trading Opportunities
Jonathan’s analysis underscores the robustness of Bitcoin’s price movement in the current market cycle. Despite the ever-changing dynamics and comparisons to previous cycles, Bitcoin has demonstrated remarkable strength, firmly holding above a crucial diagonal support level.
Traders who heeded Jonathan’s earlier advice regarding a specific trading zone referred to as the “blue box” would have enjoyed profitable long positions. The analyst advises the traders to exercise caution as the market approaches resistance levels and suggests securing some profits in anticipation of potential market fluctuations.
Altcoin Season Around The Corner?
Jonathan delves into the world of altcoins, offering a perspective on their performance and the potential for an altcoin season. While altcoins have shown pumps in USD terms, the expert notes that they have struggled to exhibit strength against Bitcoin.
More Insights From Fiorenza: Top Altcoins For A Winning Portfolio: High And Medium Risk Strategies – Coinpedia Fintech News
He advises traders to exercise selectivity when it comes to altcoin trading, focusing on strong candidates rather than opting for a broad approach. Jonathan analyzes the ETH/BTC pair as a significant indicator, highlighting bearish rejections at a particular orange trendline.
This indicates the challenge altcoins face in outperforming Bitcoin. He advises traders to carefully monitor key levels for potential bounces or shorts, recognizing the importance of strong altcoin candidates that can hold their ground against Bitcoin.
Bitcoin Price Prediction 2023: Matrixport Expert
Marcus Thielen, the chief researcher at Matrixport, has expressed confidence in Bitcoin’s potential to reach $45,000 by year-end. This prediction has caused a stir in the cryptocurrency market, with investors eagerly watching to see if Bitcoin can reach this milestone. Chinese blogger and cryptocurrency journalist Colin Wu shared the news, stating that Thielen considers this target to be “quite achievable.”
Read on to understand Thielen’s reasoning and the potential implications for the market.
Reasoning Behind Optimistic Prediction of Bitcoin Hitting $45,000 by Year-End
Markus Thielen, a key executive at Matrixport, recently shared his views on the current state of the BTC market in a LinkedIn post. He believes that Bitcoin’s current price is right where it should be, based on the “CPI/FOMC road map” that his company suggested at the beginning of February. Furthermore, he expects Bitcoin’s upward trajectory to continue, with the price potentially reaching $45,000 by the end of the year.
In light of this, he suggests that buying Bitcoin at a “fair value” of $27,000-$27,500 would make sense. Thielen also believes that with U.S. 10-year bonds trading below the 3.5% level, inflation could provide significant tailwinds for risk assets, including Bitcoin.
Price of bitcoin rises past $28,000
The market intelligence platform, Santiment, recently pointed out in a tweet that despite the recent decline, the proportion of social media discussions around BTC is still significantly higher than the typical level.
BTC typically receives high social media ratings during times of market optimism or anxiety; this is the case right now. Santiment noted that the price may soon rise once more.
The current Bitcoin price is at $29,838, with a total market capitalization at $577,567,452,450.
Do you think Bitcoin will actually reach the estimated $45,000 before the end of the year? Be sure to conduct your own research before making any market investments.
“Don’t Sell Your XRP Before Ripple v SEC Lawsuit Concludes”, Warns Expert
In the fast-paced world of crypto, investors are always on the lookout for the next big thing. However, as the ongoing legal battle between Ripple and the SEC continues to cast a shadow of uncertainty over XRP, Edoardo Farina, CEO of Alpha Lions Academy, is cautioning investors against selling too soon.
According to a twitter post by Farina, selling XRP before the lawsuit concludes could be a costly mistake, despite the protracted nature of the litigation. While some investors are skeptical of Farina’s advice, others see the wisdom in waiting for a resolution.
The question remains: will XRP’s potential for growth be worth the wait?
Legal Hurdles and XRP’s Potential
Veteran traders and analysts within the XRP community widely believe that the lawsuit is a significant roadblock to the asset’s growth. They argue that once these legal hurdles are overcome, XRP will be able to achieve unparalleled heights in the market.
Related: Ripple Vs SEC Lawsuit: What’s Holding Up the Judgment? – Coinpedia Fintech News
As the cryptocurrency sector awaits the final decision in the high-profile lawsuit between Ripple and the SEC, the increasing regulatory uncertainty has already begun impacting Ripple’s business and its relationship with the XRP community.
In a recent congressional hearing, SEC Chairman Gary Gensler refused to provide a definitive answer to the question of whether Ethereum (ETH) is a security, even during his recent testimony before the US House of Representatives Financial Services Committee, as reported by Finbold on April 19.
Coinbase Lawsuit Against SEC Boosts XRP Community’s Spirits
The XRP community has been invigorated by the news of US largest exchange Coinbase suing the SEC. Coinbase filed a lawsuit against the SEC in the US Circuit Court on April 24, following a petition for rulemaking submitted to the SEC in July of last year. The petition requested that the regulator draft and approve regulatory guidance for the crypto industry.
Through the lawsuit, Coinbase aims to force the SEC to provide clear answers to a set of questions. This legal action is seen as a positive development for the XRP community, as it may help to bring much-needed regulatory clarity to the cryptocurrency sector.
At the time of writing, XRP’s value has been experiencing a decline. It currently stands at $0.45, down by 1.6% in the last 24 hours and 11.3% over the past week.
Top Crypto Expert Predicts Altcoin Dominance Shake-Up By June
Top crypto expert Crypto Tony recently shared his prediction on Twitter that altcoin dominance may experience a shake-up by June. According to his tweet, he expects a 10% drop in altcoins in May, with the real excitement starting in June and continuing through August, provided there is demand at lower support levels around a $336 billion market cap. This forecast comes as Bitcoin (BTC) dominance shifts and altcoins gain momentum in the ongoing bull market.
Altcoin Season on the Horizon
As Bitcoin’s dominance over the crypto market decreases, it often signals the beginning of an altcoin season. Ethereum, the world’s second-largest cryptocurrency, has been outperforming Bitcoin recently, attracting more investors to its advanced blockchain technology.
Data from TradingView reveals that Bitcoin’s dominance rate increased from 42% to 48% during the first quarter but has struggled to break that level so far this month. The metric has fluctuated between 38% and 48% for nearly two years, with declines from 46% to 48% coinciding with substantial gains in altcoins.
Past Performance and Future Outlook
The chart indicates that the total market cap of altcoins rose over 60% to $1.39 trillion within two months after Bitcoin’s dominance rate dropped from 48% in July 2021. Similar bearish turnarounds in the dominance rate in mid-October 2021 and June 2022 also pushed altcoin valuations higher. If history repeats itself, the crypto market could witness another surge in altcoin value.
At the time of writing, Bitcoin is trading at $27,495, while Ethereum is valued at $1,852. As the market unwinds, investors and traders eagerly await the market’s full descent into a bull run.
As always, investors should approach predictions cautiously and consider multiple factors before making decisions in the volatile crypto market.
Expert Warns of Massive Correction for Bitcoin and Ethereum as US Economy Teeters on Recession
Bitcoin (BTC) and Ethereum (ETH) have all fallen to significant resistance levels of $30,000 and $2,000, respectively. This comes as the Federal Reserve’s tightening could result in a stock market downturn and a recession, which could impact all risk assets, including cryptocurrencies.
Potential Pullback Risks Amid Recession
Despite their strong performance since the start of 2023, Bitcoin and Ethereum could face substantial pullback risks due to the recession. Bloomberg senior commodity strategist Mike McGlone observed on April 21 that the yield curve has the highest probability since 1982 of a US recession ending. However, this could potentially lead to significant pullback risks for cryptocurrencies.
According to McGlone’s tweet, “Bitcoin and Ethereum may be running into a wall of resistance at the key round number levels of $30,000 and $2,000. Our bias is bullish in the long term for the top cryptos, but an overwhelming force of the stock market going down with the Fed tightening into a recession has the potential to lower the tide for all risk assets, and Bitcoin and Ethereum are among the riskiest.”
Bitcoin Struggles to Maintain $27,000 Amid Market Downturn
On April 22, Bitcoin was barely managing to maintain $27,000 as another round of losses left bulls with little ammunition. CoinMarketCap data showed BTC just clinging to the $27,000 mark after the Wall Street trading week ended on a disappointing note.
In contrast, US equities managed modest gains, while Bitcoin continued to struggle, with analysts warning of a potential decline to $25,000. Bitcoin is currently down 10% for the week and 4% for the month of April, as per Coinglass data.
The leading cryptocurrency soared to over $30,000 for the first time since June 2022 on April 10, later reaching its highest price point of just above $31,000 on April 14. The following week saw less volatility, but the situation changed dramatically on April 19 when Bitcoin’s price plunged to $29,000. The downward trend continued, with BTC reaching its lowest price since March 28 at $27,100. At press time, Bitcoin was trading at $27,163 and Ethereum was worth $1,833.
Crypto Expert List Top Beneficiaries If XRP is Classified as a Non-Security
The SEC vs Ripple Labs lawsuit is perhaps under the radar of all cryptocurrency traders despite the XRP community carrying the larger baggage. Ripple officials have indicated that more than $100 million has been spent on legal fees to fight the SEC. The U.S. SEC chair, Gary Gensler, has stood firm on classifying all crypto assets apart from Bitcoin as unregistered securities. To add insult to the injuries, Gensler has focused on centralized crypto exchanges including Kraken, Bittrex, Coinbase Global, and Binance for lacking proper registration.
As a result, United States cryptocurrency customers cannot access crypto staking programs due to increased regulatory scrutiny.
Tree of Alpha on XRP Regulatory Scrutiny
According to a veteran crypto trader on Twitter called Tree of Alpha (@Tree_of_Alpha), the top 300 digital assets will explode if XRP in its current form is classified as a non-security. The crypto trader insisted that a positive XRP resolution is the best possible news a crypto trader can hope for now.
“The SEC has been unhinged trying to brand everything in Crypto as a security that they need to regulate. A clear win against them would hinder any future cases they might have against other alts/crypto companies,” the analyst added.
Notably, the crypto trader noted that playing by the SEC rules does not yield the best outcome for digital assets-related firms.
Similar Sentiments
The XRP coin is not only a top-traded crypto asset but also one of the oldest in the industry. As a result, similar sentiments have been shared by most crypto influencers. Moreover, digital asset has deep liquidity on global exchanges including the futures market which is a favorite among institutional investors.
Famous crypto influencer, Ben Armstrong alias BitBoy, argued that other altcoins are heavily dependent on Ripple’s success against the SEC.
Top Expert Predicts Massive Surge For Bitcoin, Ether, and These Altcoins
A top expert in the cryptocurrency market, Michael van de Poppe, recently shared his updated analysis on a range of leading cryptocurrencies, including Bitcoin, Ethereum, and several prominent altcoins.
Bitcoin and Ethereum
As the most well-known and largest cryptocurrency by market cap, Bitcoin remains a focal point for investors and traders. Both BTC and ETH have been performing quite nicely recently and are currently valued at $28,982 and $2,096 respectively.
According to van de Poppe, Bitcoin’s price could rise to a range of $38,000 to $42,000 before experiencing a correction. The analyst predicts that Ethereum’s price could climb to a range of $2,700 to $3,000 before a potential pullback.
Altcoins in Focus
Van de Poppe’s analysis also covers several popular altcoins. He forecasts that Chainlink, a decentralized oracle network, could see its price surge to $18 to $22 before a correction occurs. LINK is worth $8.03 at press time.
Avalanche, an open-source, proof-of-stake blockchain with smart contract functionality, is also in the analyst’s sights. He predicts that Avalanche could reach a price range of $55 to $65 in the short term. The crypto is worth $20.46 right now.
Litecoin (LTC), a long-standing cryptocurrency often referred to as the “silver” to Bitcoin’s “gold,” is also expected to experience an uptrend. Van de Poppe believes Litecoin’s price could soar to $220 to $260 before a correction takes place. LTC was worth $98.78 at the time of writing.
Cosmos, a project that aims to create an interconnected ecosystem of blockchains, is another cryptocurrency that has caught the expert’s attention. Van de Poppe predicts that Cosmos could see its price rise to $25 to $35 before a potential pullback. The token is now valued at $12.59.
Crypto Market Shift on the Horizon: Expert Warns Of Upcoming Bitcoin Correction
As the crypto market remains volatile, a major correction for Bitcoin could be looming in the near future. Renowned trading expert, Tone Vays, has issued a warning to his followers regarding an impending market shift. According to Vays’ technical analysis, a bearish signal on the momentum reversal indicator (MRI) indicates an imminent drop in the value of the world’s largest cryptocurrency. In his latest YouTube video analysis, Vays has revealed his predictions about the upcoming correction and the potential impact on the crypto market.
If you’re invested in Bitcoin or other cryptocurrencies, you don’t want to miss this critical update. Read on!
A Brief Rally Followed by a Correction
The MRI is a sophisticated technical analysis metric that forecasts trend life cycles based on an asset’s momentum. Vays suggests that Bitcoin might experience a short-lived rally within the next 24 hours before losing some of its gains. He anticipates a slight increase in value until Monday, possibly reaching $31,500, followed by a one to four-candle correction that could potentially lead to a deeper decline.
Also, the expert believes that a drop to the $29,000 level would be a reasonable correction, which might take longer than four days if the BTC price decreases from around $31,500 or $32,000. If the correction takes more than four days, the MRI top could turn into an MRI bottom, followed by a subsequent rally.
Also Read: Bitcoin Price Prediction 2023, 2024, 2025: Will BTC Price Mark New High’s In The Coming Days?
Short-term Retracement Sets Stage for a Rally
According to Vays, the short-term retracement in Bitcoin’s value to the $29,000 level is his “bullish pessimistic scenario.” He also predicts that this temporary decline in Bitcoin’s value will likely pave the way for a rally toward $34,000. In his optimistic scenario, he envisions Bitcoin only correcting down to the $30,000 price area before resuming its upward trend.
Analysts’ expectations of a short-term support retest have come true as the biggest cryptocurrency begins the week below the $30,000 barrier. At the time of writing, one bitcoin was valued around $29,922. In an otherwise quiet week for macro data releases, the price of the king of cryptocurrencies is likely to decide on a critical support zone.
Altcoins Under Scrutiny
With Bitcoin’s retracement now in effect, traders are eager to see if altcoins can maintain their higher levels. The previous week provided an opportunity to reevaluate altcoins as Bitcoin’s upside cooled.
Despite the current price performance, Bitcoin’s network fundamentals, which are already at or near all-time highs, show no definitive signs of a decline this week. It may be too early to determine the impact of price performance on HODLers, but the temptation to sell at ten-month highs is undoubtedly strong, as an impressive 75% of the overall BTC supply is now in profit.
Tone Vays is predicting a correction on the horizon. Will this prompt you to change the way you’re investing in Bitcoin right now?
Bitcoin News Update: Expert Believes BTC Price Is Undervalued By Whopping 33%!
The Bitcoin market has made impressive gains of around 70% in the first quarter of 2023, raising hopes for further growth in Q2. Despite currently trading at $28.3k, Bitcoin bulls have faced difficulties in pushing past the $29k mark over the past two weeks. However, Bitcoin’s market dominance has closed the month on a bullish outlook, indicating the possibility of more uptrends in the near future.
From a technical perspective, Bitcoin bulls need to invalidate the possibility of a double top forming on the daily time frame. Moreover, the daily Relative Strength Index (RSI) indicator indicates a falling divergence on an overbought asset, which could lead to a price drop to $25k and below in the coming weeks.
Undervaluation of Bitcoin
According to Charles Edwards, the founder of Capriole Investments and the creator of the Hash Ribbons indicator, Bitcoin’s price is currently trading 33% below its fair value. Edwards believes that BTC‘s high organic demand has shown minimal signs of speculation, hence the historic undervaluation.
Perpetual Dominance Ratio Points to Potential Price Increase
Perpetual Dominance, a proprietary ratio of derivatives to spot trading, shows that the 2023 price action has been heavily driven by spot purchasing. As a result, Bitcoin’s price could potentially push toward $40k in the next leg.
Edwards argues that Bitcoin’s true value is to be determined through the energy spent by miners.
According to Capriole Investments, “Bitcoin Energy Value is the fair value of Bitcoin as calculated purely on the energy spent to secure the network. A clean, simple equation that values Bitcoin purely on watts of energy used to mine. Today Bitcoin Energy Value is $42K, suggesting Bitcoin is 33% undervalued.”
Crypto Bull Run Incoming: Expert Outlines Top 5 Reasons Why Crypto Market Is On The Rise
According to cryptocurrency analyst Nathan Sloan, the crypto market may be heading toward a big bull run. Despite the market experiencing a “hellish crypto winter,” recent developments indicate a positive future for cryptocurrencies.
Past Bull Markets and Crypto Winters
Nathan’s analysis shows that bull markets and crypto winters of the past are all in one chart. The chart highlights the middle days leading up to the next halving event, which is about one year away. Nathan claims that this chart clearly shows that crypto has the potential to air-pick bull markets, which investors have been eagerly waiting for. However, Nathan warns that even in the last cycle, the market still experienced downturns, even as it approached the next halving event.
Recent Developments
Nathan outlines five significant developments in the crypto industry that suggest an increasing institutional interest in cryptocurrencies:
- German securities processing giant, D W P bank, launched WP Next, a new platform that will allow over 1200 German banks to offer Bitcoin trading to retail customers.
- The second-biggest stock exchange in Germany has received a license for crypto custody, which will benefit banks, brokers, asset managers, and family offices.
- Microsoft is developing a built-in Ethereum crypto wallet, which will drive innovation in the industry.
- The NASDAQ plans to enable crypto custody by Q2 of this year.
- Fidelity is expanding its crypto offerings to retail customers.
Nathan believes that these developments are significant and indicate that the crypto industry is gaining traction and institutional support.
Also Read: Here’s Why Policymakers Have Been Reluctant To Regulate Cryptocurrency – Coinpedia Fintech News
Conclusion
While the crypto market may be heading towards a big bull run, investors should be prepared for any possible downturns in the current cycle. Nathan’s analysis shows that past bull markets and crypto winters have been followed by downturns even as the market approached the next halving event. However, recent developments in the industry suggest a positive future for cryptocurrencies, and institutional interest in the asset class is growing.
Bitcoin Shrugs Off Regulatory & Recession Uncertainties: Bloomberg Expert Claims It Is ‘Untouchable’
Cryptocurrencies such as Bitcoin and Ethereum have come under growing regulatory scrutiny from governments around the world due to concerns about money laundering, tax evasion, and consumer protection. The introduction of laws and regulations targeted at limiting the use of cryptocurrencies by many nations has made the market difficult for cryptocurrency investors and businesses to operate in.
A bold statement from analyst Mike McGlone has caught the attention of many. Read on.
Bitcoin: The Most Resilient Cryptocurrency?
Once considered a niche investment, Bitcoin has proven itself to be a true survivor in the face of regulatory pressures. According to Bloomberg’s senior commodity strategist, Mike McGlone, Bitcoin is “untouchable” and can weather any storm. In fact, he goes as far as to call those without any crypto exposure “seriously silly”.
In a recent interview with popular crypto podcaster Scott Melker, McGlone made a compelling case for Bitcoin’s resilience. While other cryptocurrencies like Ether may be more vulnerable to regulatory crackdowns, Bitcoin’s decentralized nature makes it much harder to kill.
The crypto industry is under fire in the United States, with a series of crackdowns shaking the sector. The U.S. Securities and Exchange Commission has filed charges against one of the largest crypto exchanges, Kraken, over its staking services. If that wasn’t enough, the stablecoin issuer Paxos has been sued over its ties to the popular crypto platform Binance. With regulators proposing new rule changes, the future of crypto firms operating as custodians is uncertain.
Looming Recession likely to occur in Q3
Mike McGlone, has stated that a recession is more likely to occur in the near future. He cites the recent decision by the Organization of the Petroleum Exporting Countries (OPEC) to reduce daily oil output, as well as interest rate hikes from the Federal Reserve to clamp down on inflation, as contributing factors to this outcome.
According to McGlone, the base case for a recession to begin in the third quarter is becoming increasingly likely. He suggests that all assets, including Bitcoin, will suffer as a result of this economic downturn. Despite this, he remains relatively bullish on Bitcoin, calling it the “fastest horse in the race.”
Expert Predicts 4 Potential Favorable Outcomes for XRP Holders in Ripple vs. SEC Battle
Famous crypto attorney John Deaton recently took to Twitter to highlight the potential outcomes of the lawsuit between Ripple and the SEC, with a focus on how they could impact XRP holders. The expert divided the possible outcomes into four best-case scenarios and one worst-case scenario.
Best-Case Scenarios
The first best-case scenario is that Ripple outright wins the case, with the judge admonishing the SEC for its behavior in the case. The second best-case scenario is that the judge rules that Ripple offered XRP as an investment contract in specific instances but that XRP itself is not a security, and ongoing and secondary sales are not securities.
The third best-case scenario is that the judge denies both the SEC and Ripple’s motion for summary judgment and states that a jury must decide disputed facts. However, the judge makes clear that XRP is simply software code and that secondary sales are not securities.
The fourth best-case scenario is that the judge grants the SEC summary judgment against Ripple for both past and present sales of XRP as an investment contract. But the judge makes clear that her ruling has nothing to do with secondary sales of XRP. Ripple appeals the case, and the status quo remains for years.
Worst-Case Scenario
Deaton said that the worst-case scenario for XRP holders in the ongoing lawsuit between Ripple and the SEC is that the judge grants summary judgment in favor of the SEC but makes no comment regarding the token itself or secondary sales.
In this scenario, he believes he could attempt to do what he did in LBRY at a hearing on damages regarding secondary sales. He also said that he believes Judge Torres will comment regarding secondary sales and the token itself.
Deaton went on to say that if the judge were to grant summary judgment in favor of the SEC, he thinks it’s likely that Judge Torres would deny the SEC’s motion for summary judgment against Brad Garlinghouse and Chris Larsen.
The most the SEC can hope for is for the Judge to say it’s up to a jury to decide whether the two executives were reckless or not. The attorney thinks it’s more likely the judge grants judgment in favor of the two executives because no reasonable jury could find them reckless.
XRP’s value was worth $0.529 at the time this article was being written, with an increase in buying pressure potentially seeing the price break above the immediate resistance at $0.560 before escalating to the next obstacle at $0.604.
What is RenQ Finance (RENQ)? Why is it called Cardano (ADA) killer? Are the 50x gains projections for 2023 achievable? Expert Analysis
RenQ Finance (RENQ) is a relatively new player in the decentralized finance (DeFi) market, but it has already made a name for itself. In this article, we will explore what RenQ Finance is, why it is called a Cardano (ADA) killer, and whether the projections of 50x gains in 2023 are achievable.
What is RenQ Finance (RENQ)?
RenQ Finance (RENQ) is a decentralized finance (DeFi) platform built on the Ethereum blockchain. The platform aims to revolutionize the DeFi space by providing an easy-to-use cross-chain exchange technology, enabling users to transfer assets between other blockchain networks quickly and affordably. RenQ Finance also uses advanced AI technology to optimize its trading strategies, providing users with better returns on their investments.
The RENQ token is the native cryptocurrency of the RenQ Finance platform and is used for various functions such as staking, liquidity provision, and governance. Users can also earn rewards in RENQ for participating in the platform’s ecosystem, such as providing liquidity or voting on governance proposals.
RenQ Finance has a strong community and development team, with a focus on providing innovative solutions to common DeFi issues such as high fees, slow transaction times, and limited interoperability. The platform has seen significant growth since its launch and continues to attract investors and users interested in the potential of DeFi and advanced AI technology.
Why is it called a Cardano (ADA) killer?
RenQ Finance has been called a Cardano (ADA) killer due to its ability to provide all the benefits of Cardano while also offering more. Cardano is known for its scalable and secure blockchain infrastructure and its support for smart contracts.
Some experts believe that RenQ Finance has the potential to compete with Cardano in the decentralized finance (DeFi) space. This is because RenQ Finance offers innovative features such as cross-chain compatibility, advanced artificial intelligence technology, and a user-friendly interface.
RenQ Finance offers the same infrastructure, but it goes a step further by allowing cross-chain liquidity and asset exchange. RenQ Finance is also much faster and more cost-effective than Cardano, making it an attractive option for investors.
In conclusion, all these features make it easier for developers to build decentralized applications (dApps) and for users to interact with the DeFi ecosystem. Additionally, RenQ Finance has seen significant growth since its launch, which has caught the attention of many investors and analysts.
Are the 50x gains projections for 2023 achievable? Expert Analysis.
The projections of 50x gains in 2023 for RenQ Finance are achievable. RenQ Finance has shown steady growth since its launch, with its price increasing by over 150% in just a few months. The platform has a strong development team, a solid roadmap, and innovative features that set it apart from its competitors. RenQ Finance has already crossed the $4 million milestone in its ongoing presale to round up the third stage, indicating high demand for its tokens.
According to crypto experts, the DeFi market is expected to grow significantly in the coming years, and RenQ Finance is well-positioned to take advantage of this growth and surge to a price of $1.5 or more by the end of 2023.
The platform’s ability to provide cross-chain liquidity and asset exchange makes it a valuable addition to the DeFi ecosystem. RenQ Finance has already gained a loyal following, and as more investors become aware of its potential, its price is likely to increase further.
Final Thought
RenQ Finance is a decentralized finance platform that has shown significant potential since its launch. Its ability to provide cross-chain liquidity and asset exchange, along with its innovative features, has earned it the title of a Cardano (ADA) killer.
The projections of 50x gains in 2023 are achievable, given the platform’s strong development team, solid roadmap, and high demand for its tokens. RenQ Finance (RENQ) is a crypto to watch in the coming months.
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Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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Bitcoin In Accumulation: Crypto Expert Maps Out Bearish and Bullish Scenarios
The public’s confidence in regulators and the financial system has been negatively affected by the banking crisis that has hit the USA as a result of the collapse of SVB and Signature Bank. This has led to investments in alternative assets and the leading cryptocurrencies like BTC and ETH has seen a spike in prices.
In the aftermath of the current crisis shaking the global banking sector, Bitcoin dominance surpassed 47% in March. With a 15% increase from the previous week, Bitcoin surged past $28,000, its highest level in nine months.
Some say that Bitcoin appears to be in its accumulation period, while others strongly disagree and fear that Bitcoin may soon tumble. The analysts are perplexed because the price could change at any time.
Here is an objective analysis of the bullish and bearish viewpoints.
Bullish outlook for BTC
Galaxy Digital is a technology-driven investment firm that provides financial solutions spanning the digital assets ecosystem. They have outlined a bullish outlook and have said that a major bullish catalyst is on the horizon for Bitcoin (BTC) as accumulation soars.
As per Galaxy Digital, the bullish catalyst is Bitcoin’s fourth halving event slated to occur in April 2024. Halving events take place every four years and reduce the amount of new BTC entering the market. The tightening of supply has historically coincided with major moves to the upside in Bitcoin’s price.
Bitcoin’s next halving, scheduled for April 2024, will reduce the network’s inflation rate to less than 1%, with approximately 450 new bitcoin mined each day. The three previous Bitcoin price halves (2012, 2016, and 2020) have historically been credited with launching succeeding bull runs.
Galaxy Digital also identifies the rising Bitcoin accumulation as another bullish development. On-chain data indicates that Bitcoin is continuing to accumulate. The overall number of addresses with a balance greater than zero is skyrocketing.
BTC is stored in more than 45 million addresses. Numerous addresses have only ever received Bitcoin; they have never spent any of it. In the past month, there have been a lot more ‘accumulation addresses,’ as it were.
Bearish outlook for BTC
The likelihood that a significant amount of Bitcoin from the defunct cryptocurrency exchange Mt. Gox could flood the market as it is handed to creditors is the potential bearish market trigger. According to documents from September 2019, the Mt. Gox bankruptcy trustee controls 141,686 BTC in addition to cash and BCH as a result of the exchange attack in 2014.
The current price of BTC is $28,066 USD with a market cap of $542,440,858,542 USD. This was a balanced view of the bullish and bearish outlook of the market. Such events are likely to regularly impact the price of BTC in the near future.
Is Optimism (OP) The Next 50x Altcoin? Here’s What Crypto Expert Predicts
The rising popularity of Optimism (OP) has taken the crypto world by storm, as Bitboy Crypto, also known as Ben Armstrong, highlights in his latest video.
According to him, Optimism is poised to become a strong competitor to Polygon in the upcoming bull run. Additionally, a new partnership may provide Optimism with the necessary impetus to ascend to greater heights.
Andreessen Horowitz Backs Optimism
Optimism has been making waves recently, with its price increasing by 161% over the last year. This is due in part to the backing of major investors such as Andreessen Horowitz, who led Optimism’s $25 million Series A investment round back in February 2021. This investment has allowed it to pursue its goal of achieving lower fees, lower latency, and greater throughput compared to transacting on Ethereum.
Coinbase Launches Layer 2 Blockchain Base on Optimism
Another major player that has shown support for Optimism is Coinbase, which launched its layer two networks, Base, using Optimism’s op stack earlier this year. This move has attracted millions of new crypto users to the ecosystem and has helped to drive up the value of Optimism’s native tokens.
Optimism’s Competitors
In terms of competitors, Optimism is up against another layer two networks on Ethereum, such as Polygon and Arbitrum. While Polygon is currently the most active network, Armstrong predicts that Optimism will be the biggest mover in the next two years.
Coinbase has also recently launched a Wallet as a Service, which is set to offer users a secure and easy way to store and access their Web3 wallets. This move is expected to be a major boost for Optimism and its transaction volumes, as Coinbase is the largest exchange in America and one of the most trusted names in crypto.
The future looks bright for Optimism, and its partnerships with major investors and companies like Coinbase have given it the resources and credibility it needs to succeed. As Armstrong puts it, “anything that Andreessen Horowitz and specifically Mark Andreessen touch pretty much turns to gold.” With these major players backing it, Optimism is poised to take the world of decentralized finance by storm.