Author: Maria

Crypto analyst Willy Woo recently explained what needs to happen for Bitcoin to continue its bull run. The flagship crypto has been on a decline for a while now and has failed to make a significant run since hitting its current all-time high (ATH) of $73,750 in March earlier this year.  What Needs To Happen For Bitcoin To Recover Willy Woo mentioned in an X (formerly Twitter) post that Bitcoin will recover when the “weak miners die and hash rate recovers.” He further explained what it means for BTC to shed weak hands, stating that “inefficient miners running old hardware…

Crypto analyst Justin Bennett has warned Bitcoin investors about what could cause the flagship crypto to decline further. The analyst also stated that things weren’t looking good for Bitcoin at the moment and suggested that a bullish reversal might not happen anytime soon.  How Bitcoin Could Get “Hammered” Bennett mentioned in an X (formerly Twitter) post that the recent “relative weakness” suggests that the crypto market, including Bitcoin, will get “hammered” if the stock market rolls over. The analyst made this statement based on the correlation between the stock and the crypto market. He had also noted that things weren’t…

In an interesting turn of events, the Bitcoin open interest has remained high even at a time when the price has been dropping. This suggests that despite the price crash, investors are still looking favorably at the pioneer cryptocurrency. Bitcoin Open Interest Stays Close To All-Time High The Bitcoin price has seen a decline over the last week, pushing it from over $70,000 to below $66,000 in the process. Usually, a decline such as this would be greatly reflected in the open interest of the cryptocurrency. However, that has not been the case, as Coinglass data shows. Rather than see…

Analysts at crypto-focused asset manager Pantera Capital have made a bullish case for the Solana ecosystem compared to Ethereum. They highlighted the network’s growth and outlined why Solana is bound to steal a massive chunk of the market from Ethereum.  Why Solana Will Steal Market Share From Ethereum In their most recent blockchain letter, Pantera analysts Franklin Bi, Cosmo Jiang, and Eric Wallach highlighted Solana’s “monolithic architecture” as the primary reason it could steal market share from Ethereum in terms of blockchain developer activity. They noted that developers make a blockchain successful and shared their belief that Solana is now…

Thanks to the summer heatwaves in North America, Bitcoin miners may begin to record a considerable increase in their revenue. This extreme weather condition is also expected to significantly impact Bitcoin’s hash rate.  Bitcoin Miners To See Increase In Profit Thanks To Lower Competition Bitcoin miners are expected to see an increase in profit because many may have to shut down or cool off their operations due to the extreme heat that usually occurs in North America during the summer. The United States (US) is known to be home to most Bitcoin miners, with data from the University of Cambridge…

Brazil-based cryptocurrency asset management platform, Hashdex has applied for the approval of a dual ETF, consisting of both Bitcoin and TH, the world’s largest cryptocurrencies. This development comes as the Spot Ethereum ETF race heats up in anticipation of an official debut before the end of the year.  Hashdex Files Combined Bitcoin And Ethereum ETFs In a June 18 X (formerly Twitter) post, Bloomberg analyst James Seyffart unveiled Hashdex’s recent 19b-4 filing for a combined Bitcoin and Ethereum ETF. Earlier on May 24, the crypto asset management company pulled back its Spot Ethereum ETF application, posting its notice of withdrawal…

Binance Chief Executive Officer (CEO), Richard Teng has made a bullish prediction for Bitcoin, the world’s largest cryptocurrency. Despite BTC’s recent downward trend, Teng foresees the cryptocurrency hitting $80,000 in this market cycle, citing the influence of Spot Bitcoin ETFs and Spot Ethereum ETFs as potential drivers. Bitcoin Predicted To Hit $80,000 In 2024 In a recent interview on the YouTube channel, Bankless, Teng shared his 2024 prediction for Bitcoin, foreseeing major gains ahead for the pioneer cryptocurrency.  The Binance CEO disclosed that in 2023, he had initially predicted BTC would hit an all-time high of $80,000. However, with the…

Despite recent stumbles that saw Bitcoin fall below $70,000, popular cryptocurrency channel Altcoin Daily remains firmly in the “bull camp,” predicting a continuation of the current market cycle that could mint a new wave of crypto millionaires. Crypto Whales Accumulating, Institutions Diving In Altcoin Daily’s hosts point to a confluence of factors that suggest a bullish future for Bitcoin and altcoins. Firstly, they highlight the increasing presence of “whales,” large investors who are accumulating billions of dollars worth of Bitcoin. This “whale activity” contradicts the narrative of a bearish market, according to the channel. Additionally, they cite predictions from financial…

The ever-growing popularity of crypto has come under fire once again, this time for its environmental cost. A new report by Greenpeace casts a critical eye on the energy consumption of Bitcoin mining, pointing a finger directly at Wall Street financiers who back the industry. Wall Street’s Dirty Little Secret? The report argues that traditional financial institutions are deeply intertwined with the environmental impact of Bitcoin mining. While Bitcoin itself operates on a decentralized network, the massive mining facilities required to secure the currency are funded and supported by Wall Street giants. Despite the myth of Bitcoin being independent from…

Cardano (ADA) founder Charles Hoskinson recently revealed the crypto project that almost overshadowed Ethereum (ETH) during its early stages. This revelation followed Hoskinson’s remarks about his greatest fear while he was the Chief Executive Officer (CEO) of Ethereum.  The Crypto Project That Almost Overshadowed Ethereum In an interview with Altcoin Daily, Hoskinson mentioned NXT as the crypto project that could have displaced Ethereum while it was still in its early stages. He claimed that NXT scared him the most among other cryptocurrencies while he was still the Ethereum CEO between 2013 and 2014.  He further explained that he was scared…