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Bitcoin Price Analysis: BTC Eyes Upside Break To $30K

Bitcoin price started a fresh increase above the $26,000 zone against the US Dollar. The price is now trading below $28,000 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $27,800 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if there is a clear move above $28,000 level. Bitcoin price is showing positive signs above $27,000 against the US Dollar. BTC might...

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How Likely is Bitcoin to Reach $1 Million in the Next Cycle?

There’s been a lot of talk about Bitcoin’s potential to one day reach $1 million per coin – possibly within the next few years.  But is that a reasonable assumption? Here are the data points to consider when assessing Bitcoin’s likelihood of reaching seven figures.  The Halving Cycle Bitcoin’s monetary issuance schedule is designed to cut the rate of newly issued coins every 210,000 blocks – roughly once every 4 years. These “halvings” are known to be a major catalyst for...

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Jack Dorsey’s Block Posts Heavy Bitcoin Revenues in 2022

Bitcoin and other forms of digital currency may have been hit hard pricewise over the last 13 months, but Block – the payment company formerly known as Square and started by ex-Twitter head Jack Dorsey – has posted strong growth revenue and profits for the fourth quarter of 2022 primarily thanks to its Cash App digital wallet protocol. Block and Bitcoin… A Perfect Match? Bitcoin suffered its worst year on record in 2022. The world’s number one digital currency by market...

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For the First Time Since 2015: Nearly 90% of The ETH Supply Now in Self Custody

The crypto analytics provider – Santiment – revealed that almost 90% of Ethereum’s supply is currently stored in self-custody addresses. The last time the figure was so high was in 2015, shortly after the protocol’s native token saw the light of day.  The new data comes at a time when investors seem to have lost some of their faith in centralized exchanges. Withdrawals from Binance soared in the past 24 hours, prompted by the recent clash between the platform and the CFTC. ...

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Alibaba to Split into 6 Business Groups Capable of Individual IPO as Company Prepares for Major Restructuring

Chinese e-commerce giant Alibaba has confirmed plans to split into smaller groups to allow each one pursue independent IPO. Alibaba Group Holding Limited (NYSE: BABA) recently announced plans to split into 6 business units, each capable of pursuing an IPO. According to the Chinese e-commerce giant, the move seeks to “unlock shareholder value and foster market competitiveness.” The Alibaba IPO-focused split also represents the most significant reorganization in the Hangzhou-based...

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Binance CEO CZ Issues Response to CFTC Complaint, Disagrees with Several Issues Alleged

CZ recently rebuffed the CFTC complaint calling for a permanent US injunction against Binance and its executives. Binance CEO Changpeng ‘CZ’ Zhao has responded to the Commodity Futures Trading Commission (CFTC) complaint against the exchange. Responding to the federal agency’s call for a US injunction against Binance, CZ raised several issues alleged in the complaint. CZ also said that the CFTC filed the “unexpected and disappointing civil” complaint despite Binance’s prior cooperation...

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New EU Money Laundering Law Will Not Ban Crypto Payments

As far as the EU is concerned, it is gradually advancing in its crackdowns on the crypto industry through functional regulation. The European Union (EU) is set to vote on a new set of Anti-Money Laundering (AML) laws that may impose some significant restrictions on transactions involving the crypto market. According to recent clarifications given by Damien Carême, a French lawmaker from the Green party, the new restrictions will be based on scenarios where the sender cannot be identified....

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Binance.US Acquisition of Voyager Digital Halted by Federal Judge

Since the time of the auction and the bidding process, US regulators have expressed a lack of confidence in the sale of the company to Binance. Judge Jennifer Rearden, a new Federal Judge for the US District Court in New York has temporarily halted the proposed sale of Voyager Digital to Binance.US. According to the judgment passed, the proposed $1 billion sale will now only be concluded once a decision has been made concerning the final details of the bankruptcy proceedings. The decision...

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Cardano (ADA) Price Analysis: Risk of More Downsides Below $0.35

ADA price is trading in a bearish zone below the $0.356 support zone against the US Dollar. The price is now trading below $0.356 and the 55 simple moving average (4-hours). There was a break below a key bullish trend lien with support at $0.3480 on the 4-hours chart (data feed via Coinbase). The price could continue to move down if it stays below the $0.3560 resistance zone. Cardano price is struggling below $0.356 against the US Dollar, similar to bitcoin. ADA price...

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Ethereum Price Analysis: ETH Could Correct Below $1,650

Ethereum price is struggling to climb above the $1,800 resistance against the US Dollar. ETH price is now trading below $1,750 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $1,740 the 4-hours chart (data feed from Coinbase). The pair could continue to move down if it breaks the $1,700 support zone. Ethereum price is declining below $1,750 against the US Dollar. ETH/USD remains at a risk of more downsides...

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