bitcoin: January 2023

Tuesday, January 31, 2023

Top 9 cyberpunk movies of all time

Cyberpunk movies feature advanced technology, such as computers and the internet, in a dystopian future setting.

Cyberpunk movies are a subgenre of science fiction that emerged in the 1980s. They typically take place in a dystopian future, often in a city characterized by high-tech, advanced technology and a breakdown of social order.

They often feature advanced forms of artificial intelligence, virtual reality, and cybernetically enhanced characters and worlds. The stories often focus on the intersection of technology and humanity and typically depict a society where the lines between man and machine are blurred, and where the power dynamics between governments, corporations and individuals are in constant flux.

Cyberpunk movies are known for their unique visual style, complex characters and thought-provoking stories that explore the impact of technology on humanity and the implications of a rapidly advancing world.

Here are top nine cyberpunk films that can spark a lifelong interest in the genre:

Blade Runner (1982)

Blade Runner is a 1982 science fiction film directed by Ridley Scott and starring Harrison Ford. The movie is set in a dystopian future in which genetically engineered humanoids, called Replicants, are used for dangerous or menial work on Earth and off-world colonies.

The story follows a “Blade Runner” named Deckard (Ford), who is tasked with hunting down and “retiring” rogue replicants. The film explores themes of humanity, identity and the intersection of man and machine.

The film’s visuals and its depiction of a decaying, neon-lit Los Angeles have become iconic, and it has since become a cult classic and a defining film of the cyberpunk genre. It’s also considered as one of the best science fiction films ever made and has a lasting impact on science fiction filmmaking.

‘Blade Runner’ (1982, Ridley Scott) pic.twitter.com/tWnvWKbwAV
— Lenscap (@Ienscap) January 23, 2023

The Matrix (1999)

The Matrix is a 1999 science fiction film directed by the Wachowskis and starring Keanu Reeves. The movie is set in a dystopian future where humanity is trapped inside a simulated reality created by sentient machines in order to pacify and subdue them while their bodies are used as an energy source.

The story follows Neo (Reeves), a hacker who discovers the truth about the Matrix and joins a rebellion against the machines, led by Morpheus (Laurence Fishburne) and Trinity (Carrie-Anne Moss).

The film explores themes of virtual reality, artificial intelligence and rebellion and revolutionized the action genre with its use of “bullet time” special effects and wire-fu choreography. It has since become a cultural phenomenon and has had a significant impact on popular culture.

Akira (1988)

Akira is a 1988 anime film directed by Katsuhiro Otomo. It is set in a post-apocalyptic version of Tokyo called Neo-Tokyo, 31 years after the city was destroyed by a mysterious explosion. The story follows a biker named Kaneda and his friend Tetsuo, who gains powerful psychic abilities after a motorcycle accident.

The film explores themes of power, technology and identity, as Tetsuo’s abilities spiral out of control and threaten to destroy the city. The animation and storytelling in Akira are considered groundbreaking, and it is widely considered one of the best anime films of all time and a defining film of the cyberpunk genre. The film has also been influential on Western animation, comics and film.

Ghost in the Shell (1995)

Another iconic anime film, directed by Mamoru Oshii, Ghost in the Shell explores themes of artificial intelligence, consciousness and the nature of humanity. The movie is set in a future where humanity has become heavily cyborgized and follows a cyborg counter-cyberterrorist field commander and leader of Public Security Section 9, Motoko Kusanagi, and her team as they hunt a mysterious hacker known as the “Puppet Master.”

The animation and storytelling in Ghost in the Shell are widely considered some of the best in anime, and it is considered a classic in the cyberpunk genre. The film has also been influential on Western animation, comics and film and has been adapted into several other media forms.

Neuromancer (1984)

Neuromancer is a science fiction novel by William Gibson, published in 1984. It is one of the most famous and influential books in the cyberpunk genre, which combines elements of science fiction and noir fiction.

The story is set in a dystopian future where the world is dominated by powerful corporations and follows the adventures of a washed-up hacker named Case, who is recruited by a mysterious figure called the Wintermute to pull off the ultimate hack. The novel explores themes of artificial intelligence, virtual reality and the blurring of the line between humans and machines.

The Terminator (1984)

The Terminator is a 1984 science fiction film directed by James Cameron and written by Cameron and Gale Anne Hurd. The film stars Arnold Schwarzenegger as the titular “Terminator,” a cyborg assassin sent back in time to kill Sarah Connor (Linda Hamilton), the mother of a future resistance leader against Skynet, an artificial intelligence that becomes self-aware and starts a nuclear war.

Michael Biehn plays Kyle Reese, a soldier from the future sent back in time to protect Sarah. The film explores the concept of time travel and the possibility of machines becoming self-aware and turning against humanity. It is considered a classic and has spawned multiple sequels and spin-offs.

RoboCop (1987)

RoboCop is a science fiction action film directed by Paul Verhoeven and written by Edward Neumeier and Michael Miner. The film takes place in a crime-ridden Detroit, Michigan in the near future, where police officer Alex Murphy (Peter Weller) is brutally murdered and subsequently resurrected as the cyborg police officer RoboCop.

It’s 1987, a cyborg working for the police is heading towards the city to stop the chaos once and for all #synthwave #80s #80smusic #robocop #cybercity #cyberpunk #darkwave #musician #retromusic pic.twitter.com/nI6upemD4f
— D r e a m k i d (@dreamkid83) January 24, 2023

The film explores themes of crime, corruption and the blurring of the lines between human and machine. RoboCop is programmed with three primary directives: serve the public trust, protect the innocent, and uphold the law. The film was both a commercial success and a critical success and has since spawned a franchise that includes multiple sequels, television series and a reboot.

Tron (1982)

Tron is a 1982 science fiction film directed by Steven Lisberger and written by Lisberger and Bonnie MacBird. The film stars Jeff Bridges as Kevin Flynn, a computer programmer who becomes trapped inside a computer-generated virtual world called “The Grid.”

Once inside, he must compete in gladiatorial games in order to escape. The film explores themes of technology and artificial intelligence and the concept of a virtual world existing within a computer system.

Tron was a box office disappointment, but later, it became a cult classic, credited with pioneering computer-generated imagery and influencing the development of the cyberpunk genre. It also spawned a franchise, which includes multiple sequels, a Disney XD animated series and a reboot.

Total Recall (1990)

Total Recall is directed by Paul Verhoeven and written by Ronald Shusett, Dan O‘Bannon and Gary Goldman. It stars Arnold Schwarzenegger as Douglas Quaid, a construction worker who begins to suspect that his life is not what it seems and that his memories of his past may have been implanted.

The film is based on the Philip K. Dick story We Can Remember It For You Wholesale and explores the nature of reality and the consequences of altering memories. The film is set in a future where Earth is experiencing severe overpopulation, and people are looking for an escape by traveling to a colony on Mars. Critics praised the film’s special effects, action sequences and performances, and it was a commercial success, grossing over $261 million worldwide.

from Cointelegraph.com News https://ift.tt/hYBRpn3

Cronos Labs to accept second cohort for $100M-backed Web3 accelerator program

The program aims to provide selected projects with upfront seed funding of $30,000 in addition to mentoring, masterclasses and support from industry experts.

Blockchain startup accelerator Cronos Labs has announced the opening of applications for its second cohort of the $100 million-backed Cronos Accelerator Program.

The program, which begins on April 24, 2023, will last for 12 weeks and provide selected projects with upfront seed funding of $30,000. In addition, participants will have the opportunity to secure up to $300,000 in seed funding from Cronos Labs and receive mentoring, masterclasses and support from industry experts. The program is focused on the decentralized finance (DeFi), GameFi, SocialFi, and Infrastructure verticals and will accept applications until March 24, 2023.

The selection of projects for the second cohort of the Accelerator Program will be based on various factors, including their market potential, the leadership team's expertise, market compatibility and compatibility with the Cronos ecosystem. The main focus of the program is to encourage innovation and growth within the Cronos ecosystem in an effort to drive the broader adoption of Web3.

Ken Timsit, head of Cronos Labs, said the success of the accelerator program's inaugural cohort provided the rationale for launching a second cohort.

The second cohort of the Accelerator Program will be guided by experienced Web3 professionals, who have designed the program to offer a full range of benefits to support founders in developing their Web3 decentralized applications.

In June 2022, Crypto.com's Cronos launched its $100M accelerator program for DeFi and Web3 projects, with the goal of supporting early-stage crypto projects with mentorship, funding and growth opportunities.

Some of the companies supporting the Cronos Accelerator Program include Mechanism Capital, Spartan Labs, IOSG Ventures, OK Blockchain Capital, AP Capital, Altcoin Buzz, and Dorahacks.

Crypto.com originally launched the Cronos blockchain in November 2021.

Blockchain accelerator programs with a focus on Web3 development have grown over the past year. As reported by Cointelegraph, Web3 accelerator Beacon recently wrapped up its first cohort with 15 companies graduating. The second cohort plans to offer up to $8 million to 32 startups.

from Cointelegraph.com News https://ift.tt/219ArnU

Bitcoin pumped 43% in January 2023! What to expect in February — Watch The Market Report live

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss what the second month of 2023 could potentially hold for BTC.

This week on The Market Report, the resident experts at Cointelegraph discuss Bitcoin’s (BTC) impressive January rally and whether there are any indicators that suggest it could continue in February.

We start off this week’s show with the latest news in the markets:

Best January since 2013? 5 things to know in Bitcoin this week

After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date, with the monthly close just 48 hours away — can the gains hold? Throughout, concerns have called for an imminent come-down, and even new macro BTC price lows as disbelief swept the market. That grim turnaround has yet to come to fruition, and the coming days could yet turn out to be a crucial period for Bitcoin’s long-term trend. It’s going to be a busy week for the markets as the United States Federal Reserve will decide on its next rate hike this week, with Fed Chairman Jerome Powell giving much-anticipated commentary on the economy and policy. The European Central Bank will make the same decision a day later. Add to that the psychological pressure of the monthly close, and it is easy to see how the coming week could be more volatile in Bitcoin’s recent history. So, buckle up as our experts break down the five key things to know in Bitcoin this week.

Bitcoin premium hits 60% in Nigeria as country limits ATM cash withdrawals

At the time of writing, the price of 1 BTC on the Nigerian crypto exchange NairaEX is 17.2 million nairas, equating to a whopping $37,341. That is a hefty premium over the current market price of Bitcoin, around $22,874 at the time of writing. It comes as the Central Bank of Nigeria has continued to impose limits on ATM cash withdrawals amid an ongoing effort to accelerate its shift to a cashless society. Will this have any impact on the price of Bitcoin, considering more and more people will be flocking to purchase the top digital currency, and how will it impact the rest of the markets?

Elon Musk wants Twitter payments system built with crypto in mind

Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. The payment feature will support fiat currencies to start with but will have the capability to accommodate cryptocurrencies if the opportunity arises. For now, things are still pretty vague as to whether the system will involve blockchain or crypto technology, but people are hopeful considering the Twitter CEO has had a lot of influence in the crypto space.

Our experts cover these and other developing stories, so make sure you tune in to stay up-to-date on the latest in the world of crypto.

Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: How do you evaluate a crypto project?

Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.

Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week, so make sure to tune in to find out which ones made the cut.

Do you have a question about a coin or topic not covered here? Don’t worry — join the YouTube chat room and write your questions there. The person with the most interesting comment or question will have a chance to win a one-month subscription to Markets Pro worth $100.

The Market Report streams live every Tuesday at 12:00 pm ET (5:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.

from Cointelegraph.com News https://ift.tt/cXMraUT

US lawmakers renew request for answers from Silvergate on FTX: Report

Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” related to the collapse of FTX in response to a similar December 2022 letter.

Several United States senators have reportedly penned a letter requesting answers from Silvergate Capital — the parent company of Silvergate Bank — related to the collapse of cryptocurrency exchange FTX.

According to a Jan. 31 Bloomberg report, U.S. senators including Elizabeth Warren, Roger Marshall and John Kennedy said Silvergate had not fully answered questions in response to a December letter about its alleged role in handling FTX user funds. Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” — a rationale the senators said was unacceptable.

“Both Congress and the public need and deserve the information necessary to understand Silvergate’s role in FTX’s fraudulent collapse, particularly given the fact that Silvergate turned to the Federal Home Loan Bank as its lender of last resort in 2022,” said the letter, according to Bloomberg.

Warren, Marshall and Kennedy signed their names onto a 2022 letter giving Silvergate until Dec. 19 to provide lawmakers answers on its involvement in the FTX debacle. However, the senators reportedly said the firm had left out crucial information necessary to determine Silvergate’s role in FTX’s alleged fraud, including whether it mishandled transferring FTX user assets to Alameda.

Following the liquidity crisis and bankruptcy filing of FTX in November 2022 — and prior to the arrest of former CEO Sam Bankman-Fried — Warren and Senator Sheldon Whitehouse called on the Justice Department to investigate the collapse of the crypto exchange and consider prosecuting certain individuals. The recent letter gave Silvergate until Feb. 13 to submit a response, including on the company’s due diligence practices.

Members of Congress have been organizing for their 118th session after Republican lawmakers in the House of Representatives were unable to come to an agreement to elect the next speaker for days, delaying committee assignments and legislation. Senators and House members conducted hearings exploring the downfall of FTX in December, with leadership suggesting at the time that the investigation would continue in 2023.

from Cointelegraph.com News https://ift.tt/52AdSVe

Crypto Quick Hits: 8 simple steps to multiple weekly winners

Two overlooked indicators are alerting traders to massive potential price increases.

Cointelegraph Markets Pro gives members access to multiple strategies for finding weekly crypto winners.

This article outlines how to use two overlooked indicators that, based on historical data, have been able to alert traders to massive potential price increases. These indicators can also be indispensable tools for asset discovery.

When these indicators are abnormally high, they warrant a closer look at the featured assets to investigate the reasons behind the abnormal volume dynamics.

Before diving in, it’s important to understand this point: Cointelegraph Markets Pro is made up of multiple, real-time, AI-driven indicators, that provide members multiple opportunities to get into select assets before — or just as — their prices take off.

These indicators can be used individually or in tandem to make informed trading decisions. And that’s why, every week, members can look forward to finding winning alerts.

The trading strategy discussed below relies on these two often-neglected metrics:

Below are eight simple steps to follow for this trading strategy:

Step 1: Go to the scanner and sort by Positive Tweets Sentiment.

Step 2: Look for assets with a 60% or higher Positive Tweets Sentiment.

Make sure to customize the scanner view first, so the Positive Tweets Sentiment can be seen. Then click to add the Positive Tweets Sentiment column to the view:

The Positive Tweets Sentiment, by the way, is the percentage of positive tweets about a cryptocurrency over the last 24 hours. The higher the better, but the target is at minimum a 40% – 60% increase.

Step 3: Look for assets with a minimum of 200 – 400 tweets over the last 24 hours.

Ignore all high-sentiment tokens with very few tweets because these assets are likely giving a false positive. The higher the number of tweets, the more likely that something positive is happening with the asset’s price.

Step 4: Find assets with Tweet Volume that are 50% or more above average.

Tweet vs Avg measures how much tweet volume an asset has today versus its 30-day moving average, so a value of 50% means that an asset’s tweet volume is 50% higher today than it is on an average day.

This indicates a significant and unusual increase in tweet volume. Such an increase tells us that something is going on with this asset, tipping members off to a potential breakout of its price.

To investigate these signals, one should verify the alerts by following the next steps:

Step 5: Look for divergence with price (flat or downward movements in the chart).

Let’s take a look at an example with Gitcoin (GTC):

Positive Tweets Sentiment above 60%? Check.

At least 200 – 400 tweets in the last 24 hours? Check.

Tweet Volume at least 50% above average in the last 24 hours? Check.

Now, let’s see where the asset’s price is going. It is best if it is flat, snaking sideways or otherwise dipping a bit.

Markets Pro 7-day chart for Gitcoin (GTC) on January 27, 2023

Step 6: Make sure there is sufficient trading volume!

Gitcoin is a small-cap altcoin, so it may be a bit tricky to find exchanges with liquidity to trade this asset. With smaller altcoins and other more illiquid assets, trading volume is volatile and inconsistent — so be aware of the availability and trading pairs.

A minimum trading volume range of around $200,000 – $400,000 depending on the pairs available on the specific exchange is recommended for optimal liquidity, but for smaller altcoins like GTC, the trading volume will be much less.

Step 7: Look at what the Twitter buzz is about.

Go to Twitter and find out what’s going on with the asset! Maybe there’s an upgrade, maybe it’s a protocol change, or maybe the company behind the asset finished a money raise.

Read the threads. Get a feel for what’s going on.

Whatever is happening, verify without guessing. It’s part of the due diligence process before taking the final step. This information is vital to determine whether to make the trade, wait and monitor, or pass on it.

Step 8: Set up a limit order to take profit at a comfortable rate of around 5% – 10%.

After — and only after — verifying the alerts using the steps above, don’t forget to set up the trade to take some profits. To beat the running rate of inflation, an easy number to use is 10% but that is up to each member to decide. By setting a limit order to take profit, one can lock in a successful return on every winning trade.

By following these eight simple steps, Markets Pro members can find multiple weekly crypto winners based on Unusual Twitter Volume and Unusual Trading Volume indicators.

This is just one of many solid trading strategies members can take advantage of by customizing their alerts through the Markets Pro platform.

See how Cointelegraph Markets Pro delivers market-moving data before this information becomes public knowledge.

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial adviser before making financial decisions.

All ROIs quoted are accurate as of January 31, 2023...

from Cointelegraph.com News https://ift.tt/UeCTcbi

Monday, January 30, 2023

Digital asset investment products see highest inflows since July 2022: Report

According to CoinShares, digital asset investment products saw $117 million in inflows last week.

On Jan. 30, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital asset investments experienced a surge in inflows last week, reaching $117 million, the highest since July 2022.

CoinShares reported that the sector’s total assets under management rose to $28 billion, a 43% increase from its November 2022 lows. The improvement in investment product volumes was evident, with $1.3 billion traded during the week, a 17% increase compared to the year-to-date average. Meanwhile, weekly volumes in the digital asset market have risen by an average of 11%.

Germany saw the highest inflows last week, accounting for 40% of the total ($46 million), followed by Canada, the United States and Switzerland, which received $30 million, $26 million and $23 million, respectively. Most of the inflows were directed toward Bitcoin (BTC) products, with $116 million, while minor inflows were seen into short-Bitcoin products at $4.4 million, indicating a polarized opinion.

The report also revealed that multi-asset investment products continued to see outflows for the ninth consecutive week, totaling $6.4 million. According to James Butterfill, head of research at CoinShares, this suggests that investors are opting for more selective investments. This trend was evident in altcoins, such as Solana (SOL), Cardano (ADA) and Polygon (MATIC) saw inflows, while Bitcoin Cash (BCH), Stellar (XLM) and Uniswap (UNI) experienced minor outflows.

Investors also showed interest in blockchain equities, with inflows totaling $2.4 million. However, a closer examination reveals that sentiment remains divided across providers.

Overall, the digital asset market saw significant growth last week, with investment products experiencing record inflows and improved volumes. The overall trend suggests that investors are becoming more selective in their investments, with a divided sentiment toward blockchain equities.

from Cointelegraph.com News https://ift.tt/RlIkL7N

Bitcoin price pares weekend gains as another CME 'gap' lurks below $20K

Bitcoin bulls are getting a rain check on gains with BTC price action retracing its weekend progress.

Bitcoin (BTC) struggled to maintain bullish momentum on Jan. 30 as the countdown to the monthly close kept the market nervous.

*BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView*

BTC price sees flash dip below $23,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD coming off its latest highs at just below $24,000 on the day.

These, while Bitcoin’s best performance for nearly six months, encountered problems with staying power as the week began, with pre-Wall Street trading seeing a brief trip below $23,000.

At the time of writing, Bitcoin traded at around $23,250 as United States equities limped into the final few days of January.

Among the topics of interest for analysts was the CME Bitcoin futures gap from the weekend getting swiftly “filled” by spot.

“Gaps” in the futures chart often act as a short-term price magnet for spot once futures markets reopen after weekends. Another remained open between roughly $19,970 and $20,530.

“CME gaps filled and overshooting now bc of Equity futures being negative,” popular trader John Wick wrote in his latest Twitter update.

“We’re in for a wild week!”

*CME Bitcoin futures 1-hour candle chart. Source: TradingView*

Analytics resource Material Indicators meanwhile focused on order book activity on Binance, with longs and shorts potentially signalling upward continuation.

“Sometimes looking at leveraged assets on binance can give clues to what is happening with the underlying. BTCDOWN is at resistance and BTCUP is approaching support,” commentary on a chart of longs and shorts stated.

“Things don't have to play out as these charts indicate, but so far they correlate with current BTC PA.”

*BTC/USD longs/ short charts (Binance). Source: Material Indicators/ Twitter*

Bitcoin analyst "not convinced"

On whether Bitcoin would make good on weeks of upside before the monthly close, others were far from confident.

Among them was Crypto Ed, who in a note to followers said that he was “not convinced yet” over Bitcoin’s overall strength.

*BTC/USD annotated chart. Source: Crypto Ed/ Twitter*

An accompanying chart presented a possible retest of $22,000 as a downside target.

As Cointelegraph reported, the area around $25,000 had constituted a significant cloud of resistance for Bitcoin, being an area of significant potential short liquidations.

That price nonetheless remained a popular target should bulls recover their firepower.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

from Cointelegraph.com News https://ift.tt/YXNUKld

Sunday, January 29, 2023

Bitcoin stays out of fear for 11 straight days as price tips near 24K

Bitcoin's huge price surge in January has meant that 64% of Bitcoin investors are in profit, according to data from IntoTheBlock.

Bitcoin (BTC) has just clocked its 11th consecutive day outside the “Fear” zone in the Crypto Fear and Greed Index, cementing its longest streak out of fear since March 2022.

Bitcoin Fear and Greed Index is 61 - Greed
Current price: $23,780 pic.twitter.com/U5gxN3AwnT
— Bitcoin Fear and Greed Index (@BitcoinFear) January 30, 2023

It comes as Bitcoin hit $23,955 at 8:10 pm UTC time on Jan. 29, becoming this year’s newest all-time high. Though it has since come back down slightly to $23,687 at the time of writing.

Meanwhile, Bitcoin sentiment is currently sitting firmly in the “Greed” zone with a score of 61, which hasn’t been seen since the height of the bull run around Nov. 16, 2021, when the price was about $65,000.

*Bitcoin Fear and Greed Index over the last 12 months. Source:* *Crypto Fear and Greed Index.*

However, despite Bitcoin’s strong resurgence in recent weeks, market participants continue to debate whether the recent price surge is part of a bull trap or whether there is a real chance for a bull run.

Regardless, the current rally has pushed a lot more BTC holders back into the green.

According to data from blockchain intelligence platform IntoTheBlock, 64% of Bitcoin investors are now in profit.

Those who first bought BTC back in 2019 are now — on average — back in profit too, according to on-chain analytics platform Glassnode.

We can calculate the average acquisition price for #Bitcoin by tracking exchange withdrawals.

The chart below shows the average withdrawal price for investors for each year.

The average class of 2019+ $BTC is now back in profit (at $21.8k)

Live Chart: https://t.co/yuhvydV70c pic.twitter.com/skjrM6w5lH
— glassnode (@glassnode) January 29, 2023

The average first time buy price for BTC investors in 2019 was $21,800, which means those investors are, on average, up about 9% with today’s current price of $23,687.

Meanwhile, a Jan. 29 poll from crypto market platform CoinGecko has revealed that 57.7% of 3,725 voters believe BTC will exceed $25,000 this week, while only 21.2% of voters believe BTC is primed for a pullback below $22,000.

*A CoinGecko poll on BTC price prediction for the upcoming week. Source:* *CoinGecko.*

Founder and CEO of Vailshire Capital Dr. Jeff Ross also provided a technical analysis of his own on Jan. 29, suggesting that a price surge towards $25,000 in the short term may be on the cards:

The strength of #bitcoin on the 4-hour charts continues to be impressive.

While price action has trended sideways for over a week, short term indicators (MACD, RSI) have once again reset... and are now ramping higher.

A price surge to ~$25k is probable.

(Not investment advice) pic.twitter.com/QaPbNrxtxZ
— Dr. Jeff Ross (@VailshireCap) January 29, 2023

Other analysts have called for excited investors to taper some of their expectations, however.

Head analyst Joe Burnett of Bitcoin mining company Blockware told his 43,900 Twitter followers on Jan. 29 that BTC won’t reach and surpass its all time high (ATH) of $69,000 until after the next Bitcoin halving event, which is expected to take place in March of 2024:

I do not think Bitcoin will make a new all time high until after the 2024 halving.

Dovish macro conditions and decreased miner sell pressure will lead to the next parabolic bull run.

Using Energy Gravity as a potential top indicator, I expect the next peak to be $150k - $350k. pic.twitter.com/OfCER7s8Zq
— Joe Burnett ()³ (@IIICapital) January 29, 2023

Macroeconomist and investment adviser Lyn Alden also recently told Cointelegraph that there may be “considerable danger ahead” with potentially risky liquidity conditions expected to shake the market in the second half of 2023.

from Cointelegraph.com News https://ift.tt/FkdfZGC

Panama's Supreme Court to rule on cryptocurrency legislation

The high court will now decide whether to declare the 'crypto bill' unenforceable or to approve it with modifications.

Panama's crypto bill saga has reached a new chapter, with the country's Supreme Court deciding the future of the local crypto industry.

Panama's President Laurentino Cortizo sent on Jan. 26 the Bill No. 697, dubbed the "crypto bill," to the high court for review and approval, after objecting to the legislation, claiming it violated the constitution's core principles and was unenforceable.

The Supreme Court must now decide whether to declare the legislation unenforceable or to approve it with modifications.

According to an official statement, the government considers articles 34 and 36 of the bill unenforceable, since they violate the state's separation of powers and establish administrative structures within the government.

President Cortizo also argued that the bill had been approved through an inadequate procedure, following his partial veto of the legislation in June. At the time, the president considered the bill needed more work to comply with new regulations recommended by the Financial Action Task Force (FATF) outlining “fiscal transparency and prevention of money laundering.”

A dispute between Panama's congress and the government has centered on this bill. In April 2022, Panama lawmakers passed the legislative proposal aiming to regulate cryptocurrencies in the country, including Bitcoin. President Cortizo, however, warned a few weeks later that he wouldn’t sign itl unless it included additional Anti-Money Laundering (AML) rules.

The bill was introduced in September 2021 to the National Assembly of Panama, aiming to make the country “compatible with the digital economy, blockchain, crypto assets and the internet.” It was moved out of the Economic Affairs Committee on April 21 before being approved by the local congress.

Based on the legislation, Panamanians “may freely agree on the use of crypto assets, including without limitation Bitcoin and Ethereum” as an alternative payment for “any civil or commercial operation.”

Furthermore, the bill would regulate the tokenization of precious metals and the issuance of digital value. Digitization of identity using blockchain or distributed ledger technology would also be explored by the government’s innovation authority.

from Cointelegraph.com News https://ift.tt/G2BWuiz

LTC, AVAX, APT and FTM prepare to rally as Bitcoin price targets $24K

Bitcoin bulls look to push BTC price to $24,000 and in doing so, LTC, AVAX, APT and FTM could extend their monthly gains.

Bitcoin (BTC) has rallied nearly 40% so far in January, which is the best start to the year since 2013. The sharp up-move has turned several on-chain signals bullish, according to on-chain analyst Cole Garner.

Usually, a sharp recovery from the market lows, driven by the leader, is a sign that strong hands may be buying aggressively. That could be because traders believe the selling may have been overdone in the near term or they found the valuation to be attractive.

*Crypto market data daily view. Source:* *Coin360*

After the initial runup, a swift correction could be expected, which will shake out the weak hands. The next fall will also confirm whether Bitcoin has formed a bottom or not. If the low is confirmed, several altcoins may start to outperform Bitcoin in the near term.

Which altcoins are showing promise in the near term? Let’s study the charts of Bitcoin and select altcoins to see which could extend their up-move in the next few days.

BTC/USDT

Bitcoin has been trading above $22,800 since Jan. 25, which suggests that bulls are trying to flip the level into support.

The upsloping 20-day exponential moving average ($21,558) indicates that bulls are in command but the relative strength index (RSI) in the overbought territory suggests that the rally may be overextended in the near term.

If buyers kick the price above $23,816, the BTC/USDT pair could start its northward march toward $25,211. This level may act as a formidable resistance.

On the downside, the 20-day EMA is an important level for the bulls to defend because if it cracks, the pair may fall to the psychological support at $20,000.

*BTC/USDT 4-hour chart. Source: TradingView*

The RSI on the 4-hour chart is forming a negative divergence indicating that the buyers may be losing their grip. If bulls want to assert their dominance, they will have to push the price above the $23,816 resistance. That could start the next leg of the up-move.

Conversely, if the price turns down from the overhead resistance, the bears will try to yank the pair below the moving averages. There is a minor support at $22,715 but if this level collapses, the pair could retest $21,480.

LTC/USDT

Litecoin (LTC) has been in a strong uptrend for the past several days. After a brief consolidation, buyers propelled the price above the overhead resistance of $92, indicating that the up-move remains intact.

The LTC/USDT pair could rally to the psychological level of $100 where the bears may again try to erect a roadblock. If bulls do not give up much ground from this level, the pair may extend its journey to $107. The upsloping 20-day EMA ($86) and the RSI near the overbought territory indicate advantage to buyers.

This positive view could invalidate if the price turns down and slips below the 20-day EMA. The pair could then drop to $81 and later to $75.

*LTC/USDT 4-hour chart. Source: TradingView*

The break and close above the $92 level suggest that the consolidation resolved in favor of the buyers. If bulls sustain the price above $92, the pair could rise toward the pattern target of $98.

The bears are likely to have other plans. They will try to drag the price below the breakout level of $92 and trap the aggressive bulls. If they manage to do that, the pair could fall to $86. This is an important level for the bulls to defend because a break below it could shift the advantage in favor of the bears.

AVAX/USDT

Avalanche (AVAX) surged above the resistance line on Jan. 27 and reached the overhead barrier at $22 on Jan. 28.

The bears are trying to stall the recovery at $22 but the bulls do not seem to be in a hurry to book profits. This increases the likelihood of a break above the overhead hurdle. If that happens, the AVAX/USDT pair could accelerate toward $30. There is a minor resistance at $24 but it is likely to be scaled.

Another possibility is that the price turns down and retests the resistance line. If the price rebounds off this level, it will suggest that the bulls have flipped it into support. That could enhance the prospects of a break above $22. The bears may gain the upper hand if the price dives below the 20-day EMA ($17).

*AVAX/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows the pair has pulled back near the 20-EMA. If the price jumps from the current level, the bulls will again attempt to thrust the pair above the overhead obstacle at $22. If this level is scaled, the pair could rally to $24.

The first sign of weakness will be a break and close below the 20-EMA. That could present an opportunity for the bears to make a comeback. The sellers could gain the upper hand if they pull and sustain the pair below the resistance line.

APT/USDT

Aptos (APT) has been having a dream run in the past few days. Usually, when an asset picks up momentum, it continues to move in the same direction for some time.

The APT/USDT pair turned down from $20.40 on Jan. 26 but the bulls are trying to arrest the pullback at $16.62. The shallow correction shows that every minor dip is being purchased by the bulls. Buyers will try to drive the price above $20.40 and start the next leg of the uptrend. The pair could then soar to $24.

The risk to this assumption is that the RSI has been in the overbought territory for the past few days. This increases the risk of a short-term correction. If the price turns down and plummets below $16.60, the pair could slide to $14.57 and then to the 20-day EMA ($12.23).

*APT/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows a negative divergence forming on the RSI. If the price breaks below the 20-EMA, the pair could test the 50-SMA. This is an important support to monitor because if it cracks, the pair could fall to $12.

Contrarily, if the price turns up and breaks above $20.40, it will indicate that bulls have reasserted their supremacy. That may invalidate the negative divergence developing on the RSI and resume the uptrend.

FTM/USDT

Fantom (FTM) has been in a stupendous run since breaking above the downtrend line. The sharp rally of the past few days suggests aggressive buying by the bulls.

The indicators signal that bulls are firmly in control. During strong up-moves, the corrections are short-lived as bulls buy on every minor dip. The bears are trying to stall the up-move near the psychological resistance at $0.50 but if bulls pierce this level, the FTM/USDT pair could soar to $0.56 and then to $0.63.

Sometimes, vertical rallies are followed by sharp declines. Therefore, traders must be careful as a break and close below $0.43 could sink the pair to the 20-day EMA ($0.37). This is the key level to watch out for on the downside because a break below it could signal that the uptrend may have ended in the near term.

*FTM/USDT 4-hour chart. Source: TradingView*

The pair turned down from the overhead resistance at $0.50 but found support at the 20-EMA. This indicates that the sentiment remains positive and traders are buying the dips. The bulls will again attempt to clear the overhead hurdle at $0.50 and resume the up-move.

The bears may have other plans as they will try to pull the price below the 20-EMA. This is an important level to keep an eye on in the short term as a break below it could open the doors for a possible drop to the 50-SMA. If this level also cracks, the next stop could be $0.36.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

from Cointelegraph.com News https://ift.tt/gi8wcnY

North Korean hackers launder $27M ETH from Harmony Bridge attack

Three main addresses carried out transactions worth $27.18 million to six crypto exchanges.

North Korean exploiters behind the Harmony Bridge attack continue to launder the funds stolen in June 2022. According to on-chain data revealed on Jan. 28 by blockchain sleuth ZachXBT, the perpetrators moved another $27.18 million in Ethereum (ETH) over the weekend.

The tokens were transferred to six different crypto exchanges, noted ZachXBT in a Twitter thread, without disclosing which platforms had received the tokens. Three main addresses carried out the transactions.

According to ZachXBT, exchanges were notified about the funds transfer and part of the stolen assets were frozen. The movements made by the exploiters to launder the money were very similar to those taken on Jan. 13, when over $60 million was laundered, noted the crypto detective.

Who’s active rn?

DPRK just finished laundering another $17.7m+ (11304 ETH) from the Harmony Bridge hack.

S/o to the exchanges who responded quickly on a weekend so funds could be frozen. pic.twitter.com/sUyUScHR4N
— ZachXBT (@zachxbt) January 29, 2023

The funds were moved a few days after the Federal Bureau of Investigation (FBI) confirmed the Lazarus Group and APT38 as the criminals behind the $100 million hack. In a statement, the FBI noted that “through our investigation, we were able to confirm that the Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $100 million of virtual currency from Harmony’s Horizon bridge.”

The Harmony Bridge facilitates transfer between Harmony and the Ethereum network, Binance Chain and Bitcoin. A number of tokens worth about $100 million were stolen from the platform on Jun. 23.

Following the exploit, 85,700 Ether was processed through the Tornado Cash mixer and deposited at multiple addresses. On Jan. 13, the hackers started shifting around $60 million worth of the stolen funds via the Ethereum-based privacy protocol RAILGUN. According to an analysis from crypto tracking platform MistTrack, 350 addresses have been associated with the attack through many exchanges in an attempt to avoid identification.

Lazarus is a well-known hacking syndicate that has been implicated in a number of key crypto industry breaches, including the $600 million Ronin Bridge hack last March.

from Cointelegraph.com News https://ift.tt/UIgcfMq

Saturday, January 28, 2023

FTX creditors list, BlockFi $1.2B exposure and new Celsius token: Hodler’s Digest, Jan. 22-28

FTX will be the subject of a U.S. Senate hearing, authorities take HashFlare founders into custody and New York finalizes its PoW ban.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $23,129, Ether (ETH) at $1,600 and XRP at $0.41. The total market cap is at $1.06 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Threshold (T) at 115.05%, Aptos (APT) at 86.22% and dYdX (DYDX) at 64.91%.

The top three altcoin losers of the week are Hedera (HBAR) at -7.72%, Decentraland (MANA) at -7.71% and Maker (MKR) at -5.77%.

For more info on crypto prices, make sure to read Cointelegraphs market analysis.

Most Memorable Quotations

With the help of blockchain technology, we can achieve medical advances so powerful and undeniable that existing systems will have no choice but to change.

Keith Comito, co-founder and president of Lifespan.io

Its very early days, but we continue to believe that stablecoins and central bank digital currencies have the potential to play a meaningful role in the payments space, and we have a number of initiatives underway.

Alfred F. Kelly, CEO of Visa

Traditionally, people have looked to centralized intermediaries or governments to solve this problem, but technology like cryptography, blockchain and zero-knowledge proofs offer new solutions.

Hester Peirce, commissioner of the U.S. Securities and Exchange Commission

“Weve observed that institutions and enterprises are more open than ever before to working with blockchain companies to enhance their businesses.

Paul Veradittakit, general partner at Pantera Capital

We are seeing the consequences of the SECs priorities play out in real-time at the expense of U.S. investors.

Michael Sonnenshein, CEO of Grayscale Investments

Other coins or other tokens are being essentially used as a store of value for investment and speculation. [There is a] good argument that they should be treated like a financial product.

Stephen Jones, assistant treasurer and minister for financial services for the Australian Parliament

Prediction of the Week

Bitcoin will hit $200K before $70K bear market next cycle Forecast

After two weeks of rally, Bitcoins price has largely been flat in the past several days, showing that market participants are not overly concerned in advance of the U.S. Federal Reserve, European Central Bank and Bank of England monetary policy decisions scheduled for next week.

For many, BTC price action is still bound by Bitcoins four-year halving cycles. The resulting price pattern offers one all time high year in every four, with 2025 next in line. According to pseudonymous analyst Trader Tardigrade, also known as Alan, Bitcoins block subsidy halving will occur a year prior and, from then on, the path will be open to a giant $200,000.

#Bitcoin well-formed structure with stochastic behavior indicates that the next ATH will be at 200K and next floor will be at 70K, Alan predicted.

FUD of the Week

Mango Markets sues Avraham Eisenberg for $47M in damages plus interest

Mango Labs, the creator of crypto trading platform Mango Markets, filed a lawsuit against Avraham Eisenberg, seeking $47 million in damages. It also asked the court to rescind an agreement between Eisenberg and Mangos decentralized autonomous organization. In October 2022, Eisenberg drained around $117 million from Mango Markets by manipulating the price of its native Mango (MNGO) token, allowing under-collateralized loans.

Argo Blockchain accused of misleading investors in class-action lawsuit

A class-action lawsuit claims that crypto mining firm Argo Blockchain omitted key information and made untrue statements during its initial public offering in 2021. The filing alleged that the miner failed to disclose how susceptible it was to capital constraints, electricity costs and network difficulties. It also claimed that a number of documents presented have been prepared negligently, with inaccurate or omitted information.

US Justice Department seizes website of prolific ransomware gang Hive

International law enforcement groups have dismantled the infamous Hive cryptocurrency ransomware gang, recovering over 1,300 decryption keys for victims since July 2022 and preventing $130 million in ransomware payments. Hive was behind a series of notorious ransomware incidents, such as the Costa Rica public health service and social security fund cyberattack that occurred from April into May 2022.

Best Cointelegraph Features

The legal dangers of getting involved with DAOs

If you are a member of a DAO, you may not realize the legal dangers of being involved. Heres what you need to know.

NFT creator: Amber Vittoria crushes it in her Big Girl Pants

Named on Forbes 30 under 30, Amber Vittoria made a big splash in the traditional art world and has since embraced NFTs, collaborating with The Hundreds, World of Women and as MoonPays artist in residence.

Reformed altcoin slayer Eric Wall on shitposting and scaling Ethereum

“There’s multiple cryptocurrency communities who have me as their favorite hate object basically,” says crypto analyst Eric Wall, formerly known as the ‘altcoin slayer.’

from Cointelegraph.com News https://ift.tt/ehur0El

Core Scientific files motion to sell over $6M in Bitmain coupons

Some conditions applied to the coupons make them useless for Core Scientific's business, a court filing shows.

Bankrupt Bitcoin (BTC) mining firm Core Scientific filed on Jan. 25 an emergency motion seeking to sell Bitmain coupons worth $6.6 million, according to court records.

As per the filing, some conditions applied to the coupons make them useless for Core Scientific's business. Specifically, the coupons can "only be used to pay 30% of any new order of S19 Miners from Bitmain, and cannot be exchanged with Bitmain for cash."

Additionally, the coupons are limited to S19 models, which provides a lower hash rate output compared to Bitmain's recent models. "The Debtors do not believe that utilizing their liquidity to purchase new S19 Miners, even with the availability of the Bitmain Coupons, is the best use of the Debtors’ cash," claimed the company.

Moreover, the Bitmain coupons are due to expire between March and April of 2023, when the company anticipates having emerged from its Chapter 11 reorganization. Core Scientific also noted that it will not acquire additional S19 miners while under Chapter 11 or afterward.

Along with the motion, the company has been in discussions with Bitmain and two potential third-parties interested in buying the coupons under a significant discount. In particular, the sale of a $1.9 million of Bitmain coupons for $285,000 and the sale of $4.8 million in coupons for approximately $713,000, both representing 15% of the coupons' face value.

The sale would result in aggregate nearly $1.0 million to Core Scientific's balance sheets. The company also noted:

"While the aggregate purchase price of approximately $1.0 million would represent a significant discount to the approximately $6.7 million face value of the Bitmain Coupons, it would also represent significant value above what these Bitmain Coupons are worth to the Debtors and their estates: zero."

According to the filing, the crypto winter resulted in a flood of S19 Miners being offered for sale on the secondary market, driving prices down. "As such, recent transactions for S19 Miner coupons on the Coupon Exchange have occurred at values of between 15% and 25% of the coupon’s face value."

Among the largest cryptocurrency mining companies in the United States, Core Scientific filed for Chapter 11 bankruptcy on Dec. 21 due to rising energy costs, declining revenues, as well as the slump in Bitcoin prices. The company recently obtained court approval to access a $37.5 million loan from existing creditors amid liquidity issues.

from Cointelegraph.com News https://ift.tt/J62TWFf

Sam Bankman-Fried seeks to access FTX funds

Sam Bankman-Fried lawyers claim he was not involved in previous unauthorized transactions, and should have access to company assets.

Sam Bankman-Fried's legal team is seeking to remove a bail condition that prevented him from accessing FTX's funds, according to court filings from Jan. 28.

A letter from Bankman-Fried's lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions.

FTX and FTX US have sought over $659 million in unauthorized transfers amid the collapse of the cryptocurrency exchange in November 2022, according to Nansen data reported by Cointelegraph. Bankman-Fried denied any involvement in the transactions.

As per the letter sent to Judge Kaplan, Bankman-Fried was “prohibited from accessing or transferring any FTX or Alameda assets or cryptocurrency, including assets or cryptocurrency purchased with funds from FTX or Alameda”, as requested by U.S. authorities at the first court hearing on Jan. 3. At the time, prosecutors acknowledged that there was no evidence that Mr. Bankman-Fried had transferred funds and noted that a federal probe was underway.

"Nearly three weeks have passed since the initial pretrial conference and we assume that the Government’s investigation has confirmed what Mr. Bankman-Fried has said all along; namely, that he did not access and transfer these assets," notes the letter, stating that the defense notified authorities "as soon as we became aware of the transfers to provide notification."

Furthermore, the lawyers argued:

"Given that the sole basis advanced for seeking that condition has not been supported, we believe that the bail condition imposed at the conference should be removed."

In addition, the letter addresses a request from Jan. 27 by the U.S. Department of Justice (DOJ) prohibiting Bankman-Fried from communicating with “current or former employees” of FTX or Alameda Research without his attorney's presence.

The prosecutor's request was made after Bankman-Fried allegedly reached out to Ryne Miller, the current General Counsel of FTX US, over Signal and email on Jan. 15, attempting to “influence” Miller’s testimony.

As per Cohen's letter, Bankman-Fried should have unlimited contact with his father, therapist, and any employee or agent of a foreign regulator outside the presence of attorneys. The defense stated:

"For example, it would mean that Mr. Bankman-Fried could not speak to his therapist, who is a former FTX employee, without the participation of his lawyers. According to public sources, FTX and Alameda had approximately 350 employees. Each of these current and former employees could have information crucial to Mr. Bankman-Fried’s defense. Requiring Mr. Bankman-Fried to include counsel in every communication with a former or current FTX employee would place an unnecessary strain on his resources and prejudice his ability to defend this case."

On Nov. 11, FTX filed for bankruptcy protection and Bankman-Fried resigned as the company's CEO. On bail at his California family house, he faces eight charges, including wire fraud and money laundering.

from Cointelegraph.com News https://ift.tt/CKqEOxn

Friday, January 27, 2023

Opinion: 3 tips for trading Ethereum this year

It’s a hard year to trade, but there are measures you can take to increase the likelihood you’ll succeed if you want to trade Ether.

Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading. During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed.

Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year. Here are three tips that might help.

Understand what actually affects ETH price movements

There are many ways to analyze the price of a given cryptocurrency, and different price valuations will be given depending on the model used and how much weight is given to a specific set of conditions.

But incorrect weighting can produce erroneous conclusions. For instance, a cryptocurrency can generate positive buy signals across the board, but other factors can send the entire market tanking.

This is precisely what happened with Ethereum’s Merge, where a successful transition to proof-of-stake that reduced consumption by 99.9% was not really reflected in the price. In fact, bearish traders ran the price into the ground.

The crypto market also tends to correlate heavily with Bitcoin (BTC), which is traded by a lot of institutional and hedge fund money that is tied to interest rates and traditional financial markets. ETH currently holds a 0.9 correlation with Bitcoin.

Leading up to May 2021 and November 2021, ETH experienced significant price increases. This was attributed to announcements from big firms, such as the decision of the European Investment Bank to offer a two-year bond on the Ethereum blockchain. Visa also announced plans to transact in USD Coin (USDC) over Ethereum.

A summary of the factors that affect the price of Ether is that it will be affected most heavily by Bitcoin’s price movement, interest rate decisions, institutional investment and macroeconomic conditions that discourage investment.

Fundamental blockchain indicators, however, can strongly point toward medium-term appreciation, perhaps over one to three years. Based on these indicators, Ethereum is a very powerful blockchain with a thriving ecosystem set for growth.

Anticipate the seasonality

Like other cryptocurrencies, ETH has specific months where it performs well, and others where it performs poorly. It performs the worst in September, June and March, meaning those may be good times to become a buyer.

In contrast, it performs well in February, April and May. This is a time for traders to issue sell orders, while buy-and-hold investors might simply avoid these months in terms of investment (though other criteria should also be taken into account).

While there are claims that certain hours of the day are more lucrative than others for investment, studies have shown this is not the case, at least where Bitcoin is concerned. The same applies to days of the week.

*Seasonality of Ether pricing. Source: FXStreet*

Even if there are certain days or times to trade Ethereum, only active traders will be able to gauge this information correctly and withstand the increased fees of more regular trades. More realistically, seasonality can be applied on a monthly and perhaps quarterly basis for most.

Seasonality is something to keep in mind as there are definite monthly trends.

Consider dollar-cost-averaging

A popular and research-backed means to trade Ether (and any other asset) is dollar-cost-averaging (DCA), a technique first popularized by Benjamin Graham and applied to the equity market.

DCA is a means of investing smaller amounts at specific intervals. You could, for instance, invest a specific amount at the start of each month. This ensures that you get all the highs and lows (at least on a month-to-month basis), smoothing out volatility.

It’s a great way for newcomers to enter the market because it requires no technical expertise or time investment. You don’t have to conduct research or learn statistical models or correlations (though you can obviously do this on the side).

DCA can also be a great baseline for more creative investments, providing a stable foundation. For example, you can combine it with seasonality, choosing the three to four months where Ether has historically been priced on the low end.

At the very least, DCA can help you to avoid the volatility of the cryptocurrency markets with investment spread out across time. Holding on to your investment is as important as making profits, a fact often missed in an industry often overtaken with hype and profits.

Other points to keep in mind

The upcoming Ethereum Shanghai upgrade in March will allow users to withdraw staked ETH, valued at more than $20 billion as of mid-January, though it isn’t clear whether investors will capitalize on the opportunity — which would be bearish — or continue holding their ETH, which would be bullish.

Fundamental indicators with regard to a given blockchain — active addresses, forks, functional upgrades, node diversification, speed, etc. — are often not factored into the price on a short time horizon. Ethereum’s Merge, for instance, reduced waste by 99.9% but did nothing for the price, being overshadowed by wider economic factors.

But these are certainly useful indicators on a longer time horizon. The work that has been done to enhance the Ethereum blockchain and ecosystem will, eventually, be reflected in its price.

In this regard, Ether is a wonderful investment opportunity for late 2023 and perhaps 2024, given recent innovations.

It is, in many ways, a perfect token for a patient investor.

Daniel O’Keeffe worked for three years as a compliance analyst for JPMorgan and State Street. He holds a master’s degree in computer science from the University College Dublin and a legal degree from the University of Limerick.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

from Cointelegraph.com News https://ift.tt/7klZVcN