Stablecoin bill has ‘outside chance’ of finalizing this year

There is a small chance the U.S. House of Representatives could pass the bill to regulate stablecoins by year-end, though it’s more likely it will pass in the first quarter of 2023, says U.S. Congressman Warren Davidson.  According to a Thursday report from Kitco, Davidson made the remarks at the Annual Fintech Policy Forum on Sept. 22, where he suggested: “There’s an outside chance we find a way to get to consensus on a stablecoin bill this year.” The “stablecoin bill” seemingly refers to draft legislation aimed at “endogenously collateralized…

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Does Ethereum’s new ETHPoW fork stand a chance? ETHW price falls 65% post-Merge

ETHPoW, a separatist proof-of-work (PoW) blockchain forked from Ethereum’s Merge, went live on Sept. 15. However, the chain suffered technical issues after the launch, which put downward pressure on its ETHW token.  ETHW price down 65% amid “ChainID” fiasco The price of ETHW has dropped by 65% since ETHPoW’s launch to around $14 on Sept. 16, according to CoinMarketCap. At its lowest, the token was changing hands for $9.50. ETHW price performance in the past seven days. Source: CoinMarketCap The losses coincided with a technical issue related to ETHPoW’s ChainID. ChainIDs…

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The Merge is Ethereum’s chance to take over Bitcoin, researcher says

Ethereum researcher, Vivek Raman, is convinced that Ethereum’s (ETH) upcoming transition to a proof-of-stake system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency. “Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin,” said Raman in an exclusive interview with Cointelegraph.  The Merge, a long-awaited upgrade that will complete Ethereum’s transition from a proof-of-work to a proof-of-stake system, is set to take place in September. In addition, The Merge will transform Ethereum’s…

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Bulls or bears? Both have a fair chance in Friday’s Bitcoin options expiry

Bitcoin (BTC) briefly broke above $24,000 on July 20, but the excitement lasted less than two hours after the resistance level proved more challenging than expected. A positive is that the $24,280 high represents a 28.5% increase from the July 13 swing low at $18,900. According to Yahoo Finance, on July 19, the Bank of America published its latest fund managers survey, and the headline was “I’m so bearish, I’m bullish.” The report cited investors’ pessimism, expectations of weak corporate earnings and equity allocations being at the lowest level since…

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‘Very small chance’ BTC price could hit $24K, says trader as US dollar cools

Bitcoin (BTC) fought to reclaim $20,000 on the July 12 Wall Street open as the U.S. dollar cooled its surge to new two-decade highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar bull run takes fresh breather Data from Cointelegraph Markets Pro and TradingView revealed a tug-of-war between buyers and sellers following seven-day lows for BTC/USD. The intraday losses had come at the hands of a rampant U.S. Dollar Index (DXY), which hit its highest levels since October 2002 at risk assets’ expense thanks to inverse correlation. U.S. dollar Index (DXY)…

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Cloudy With A Chance Of Reversal

Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud. Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo. Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and…

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Single inactive volcano has 90% chance of powering El Salvador’s Bitcoin City, according to president

El Salvador President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The El Salvadoran leader said the state-owned electrical company LaGeo was continuing to increase its production of geothermal power from different volcanoes in the country, with one of…

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Raoul Pal says ‘reasonable chance’ crypto market cap could 100X by 2030

Former Goldman Sachs hedge fund manager and Real Vision CEO Raoul Pal thinks that the crypto market cap could increase 100X by the end of this decade. At the time of writing, the total market cap of the global crypto sector stands at $2.2 trillion, and Pal told podcast Bankless Brasil “there’s a reasonable chance” this figure could grow to around $250 trillion if the crypto network adoption models continue on their current trajectory. Pal drew comparisons between the current benchmarks of other markets and asset classes such as equities,…

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Bitcoin needs to clear $51K to reduce the chance of new sell-off from BTC whales

Bitcoin (BTC) whales are the center of attention again this week as large transactions flow back to exchanges. Data from on-chain analytics platform CryptoQuant on Dec. 24 shows that relatively, whales are increasing their presence as potential sellers. Action stations as Bitcoin climbs to $51,000 According to CryptoQuant’s Exchange Whale Ratio indicator, the proportion of large inflows to exchanges out of total inflows is now at a one-year high. Inflows sped up significantly as BTC/USD rose to $51,000 overnight on Thursday, and the implication could be that large-volume investors plan…

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Bitcoin Price Forecast Calls For Chance Of Black Thursday Redux

Bitcoin price is making another attempt at the time of this publication to take back $50,000 and hold. With the Ichimoku indicator turned on, the leading cryptocurrency by market cap is also trying to hold above the cloud. Losing the cloud under similar circumstances the last time around, resulted in one of the nastiest selloffs on record with Black Thursday in March 2020. Could such chaos be in the forecast for crypto? Holding Above Cloud Could Prevent Black Thursday Repeat Until either Bitcoin sets a lower low, or blasts cleanly…

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