Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Bitcoin Cash surges as BCH hits 3-month high: Here’s why

  • Bitcoin Cash price rose to $140 on major crypto exchanges as Bitcoin touched the $29k level after major companies, led by BlackRock, filed for spot ETFs.
  • BCH traded higher after Wall Street-backed cryptocurrency exchange EDX went live.
  • EDX will initially support only 4 tokens – BTC, ETH. LTC and BCH.

BCH is the biggest gainer among the top 50 cryptocurrencies by market cap as Bitcoin Cash news aid bulls’ course.

Bitcoin Cash price’s 24-hour gains of over 25% indeed put it well above other notable gainers Stacks (STX), Optimism (OP) and Render (RNDR).

BCH was also outperforming Bitcoin (BTC), which itself notched impressive gains as it traded to the $29k mark for the first time in over a month.

Bitcoin Cash spikes amid Wall Street crypto news

Wednesday saw most coins trade in green, in contrast to the US stock market that had seen major indices close in the red ahead of Fed Chair Jerome Powell’s two-day testimony.

For crypto, the widespread gains followed on last week’s bounce after asset investment behemoth BlackRock filed for a spot Bitcoin ETF. Today, news of other top asset managers in WisdomTree and Invesco following BlackRock into submitting spot ETF proposals to the US Securities and Exchange Commission (SEC) catapulted bulls into action.

Bitcoin Cash price therefore rose alongside those of other altcoins as sentiment flipped positive. Moreso, the price of BCH could have found a new leg after the Wall Street-backed cryptocurrency exchange EDX Markets went live.

As CoinJournal reported, EDX is a new crypto exchange backed by Wall Street giants Fidelity, Charles Schwab, and Citadel. BCH price might have surged on news that EDX will initially only support four cryptocurrencies – Bitcoin, Litecoin, Ethereum and Bitcoin Cash.

Bitcoin Cash price prediction

The upside momentum from this news is likely why BCH/USD rose to near $140, its highest price level since March 20.  

Bitcoin Cash BCH price chart by TradingView

It remains to be seen if bulls exploit the broader market sentiment to trade higher. If it happens, then BCH/USD could target the psychological $200 area and possibly May 2022 highs.

On the downside, the $100 zone remains a key support area that could act as a demand reload level. Currently, BCH/USD is hovering near $130, about 22% up in the 24-hour range.

The post Bitcoin Cash surges as BCH hits 3-month high: Here’s why appeared first on CoinJournal.

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CyberHarbor token CHT skyrockets to new all-time high after Indonesian listing

  • CyberHarbor token CHT jumped more than 200% to a new all-time high on Wednesday morning.
  • The CHT price gains followed Bitcoin’s bounce to the $29k level, and as sentiment turned positive for CyberHarbor after listing on Indonesia’s largest crypto exchange indodax.
  • But the token traded near $15 at the time of writing as profit taking increased.

CHT, the native token of blockchain monitoring network CyberHarbor, rallied to a new all-time high early Wednesday as the entire crypto market turned green. 

CyberHarbor price touched the $34 peak on June 21 as Bitcoin raced to the $29,000 level for the first time in weeks.

CHT token rides crypto rally to ATH: What drove the price higher?

CyberHarbor price rose sharply after news of a major institutional push for further crypto adoption via spot Bitcoin ETFs, led by global asset investment giant BlackRock, catalysed the latest crypto bounce. After flatlining for much of the last three months, CHT price pumped to $34 to bring weekly and 30-day gains to over 200% and 800% respectively.

While most of these gains occurred in the past day, momentum for CHT appears to have been building over the past few days. This is likely due to the token being highlighted for listing on indodax, the biggest Bitcoin and cryptoasset trading platform in Indonesia. Prior to this, CHT was traded on the BTCEX exchange.

As of writing, CHT had pared most of the gains, losing over 58% of upside as it appeared profit taking deals were mounting.

What’s CyberHarbor?

As noted above, CyberHarbor CyberHarbor (CHT) is a decentralized network that offers real-time anomaly monitoring. The multi-chain tool is capable of detecting real-time threats across platforms in the crypto and Web3 ecosystems, including in DeFi, oracles, cross-chain bridges and governance.

The platform’s blockchain-powered technology achieves this through transaction scanning and security testing for block by block changes. That occurs in metrics such as token and token holder transaction information and short-term security tests.

The post CyberHarbor token CHT skyrockets to new all-time high after Indonesian listing appeared first on CoinJournal.

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DOT/USD price forecast: bears have a compelling case

  • Polkadot made a new low for the year
  • All 2023 gains are gone as bears keep selling DOT/USD
  • If Jerome Powell delivers a hawkish speech today, a descending triangle points to further downside for the DOT/USD pair

The cryptocurrency market rallied at the start of the year. Following a bearish 2022, investors saw the start of the new year as the beginning of a new bull market.

Bitcoin led, and other cryptocurrencies followed. But not all coins managed to close near their yearly highs.

For example, Polkadot made a new low for the year. More precisely, the DOT/USD pair gave back all of its 2023 gains, and things do not look good for investors.

That is particularly true ahead of the Fed’s Chair Jerome Powell’s testimony due today. He will testify about the semi-annual monetary policy report in front of the Senate Banking Committee in Washington, D.C., later today, and markets are eager to find out what he’s going to say about the future funds rate.

Any hawkish commentary should send the U.S. dollar higher across the board. Not only fiat currencies will react – but the crypto ones too.

Coupled with the technical analysis picture, the bias is bearish, as pointed out by a descending triangle.

Polkadot chart by TradingView

A descending triangle spells trouble for DOT/USD

A descending triangle is a bearish continuation pattern. Hence, the price action following the pattern should continue in the same direction as the main trend traveled.

The main trend is bearish, given the fact that DOT/USD dropped from above $52 at the peak of 2021 to the current $4.7.

To confirm the bearish pattern, the market should travel a distance equal to at least the longest segment of the triangle. Calculating it does not make sense, as it points to almost 0.

I’m not saying that Polkadot will go to 0. I do state that before buying cheap coins, one should be better off looking at the bigger picture and looking for the obvious on a chart. In this case, as 2023 gains are gone, bulls are trapped. Add the descending triangle, and the bias remains bearish, not bullish.

The post DOT/USD price forecast: bears have a compelling case appeared first on CoinJournal.

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WisdomTree, Invesco join spot Bitcoin ETF frenzy as AltSignals hits key presale milestone

  • BlackRock, WisdomTree, Invesco have filed for spot Bitcoin ETFs and Fidelity Investments is also reported to be considering an application.
  • The news has catalysed crypto market’s latest bounce, with Bitcoin (BTC) hitting $29k.
  • Meanwhile, the AltSignals presale is nearly 94% sold out in stage 1, and is set to hit the targeted $1.08 million mark.

Crypto news today is headlined by reports of renewed interest in the Bitcoin (BTC) asset class, particularly by major US-based companies. These include asset managers WisdomTree and Invesco, who have joined the world’s largest asset management firm BlackRock in filing for a spot Bitcoin ETF.

Amid the potential influx of institutional investor interest, the cryptocurrency market’s bounce this week – which saw Bitcoin price retest $29,000 again – has investors also looking at AltSignals (ASI), a trading signals company whose presale is about to hit a major milestone.

BlackRock sparks spot Bitcoin ETF frenzy

While the SEC has denied all previous rule change proposals for a spot Bitcoin ETF, the spate of filings coming in hot and fast has the market buzzing. Global investment asset giant BlackRock, a $9 trillion in asset under management firm, filed for its spot Bitcoin exchange traded fund on June 15.

The filing looks to address one of the sticking points that has reportedly seen the US Securities and Exchange (SEC) reject all previous proposals – the issue of price manipulation. In its application, BlackRock cites a “surveillance agreement” with top markets platforms the Chicago Mercantile Exchange (CME).

WisdomTree, a US-based investment fund with over $83 billion in assets under management that had two previous ETF propoals denied by the SEC, is hoping to join BlackRock in persuading the securities regulator to allow the first physically-backed bitcoin ETFs in the US market. 

SEC documents show WisdomTree filed for its WisdomTree Bitcoin Trust (BTCW) on June 20 and seeks to list the ETF on the Cboe BZX exchange.

Another asset manager seeking the SEC’s seal of approval is Invesco, which has reactivated its 19b-4 document for the listing of a spot ETF. Like WisdomTree, the firm plans to list the Invesco Galaxy Bitcoin ETF on the Cboe BZX exchange.

Also reported to eyeing the spot Bitcoin ETF bandwagon is Fidelity Investments, which as highlighted here, is among the Wall Street giants to back the newly launched cryptocurrency exchange EDX. Others are Schwab and Citadel.

What is AltSignals?

AltSignals launched in 2017 and has grown to become one of the most popular trading signals providers, with its tools available for traders 24/7 across crypto, stocks and forex markets. To advance its technology further amid greater demand, AltSignals has integrated an artificial intelligence-powered layer called ActualizeAI.

ActualizeAI will leverage the power of machine learning and natural language processing to give users the most accurate trading signals. The ASI token is needed to access the AI platform and will also give holders governance rights when the company transitions into a DAO.

ASI presale on track to hit first milestone

As altcoins look to bounce amid the current market exuberance, AltSignals’ presale is on the verge of hitting a key presale milestone. The trading signals platform launched its ASI token sale a few weeks ago and has raised over $1 million in the first stage.

With 94% of the available tokens sold, the remaining percentage is likely to be scooped up quickly as the confluence of factors driving crypto markets today cascade into an investor group scouring for the next crypto gem.

The ASI token is currently priced at $0.015 and will increase to $0.01875 in the next presale stage, giving it a 25% increase. According to details on their presale page, there will only be four stages, with prices rising to $0.02274 in the final phase.

Is now a good time to buy crypto?

Opinion is divided as to the timing of the “gold rush” for spot Bitcoin ETFs by major US investment firms, led by BlackRock. In particular is the argument that this looks to be coming together at a time the SEC is cracking down on crypto exchanges, with the lawsuits against the world’s two largest crypto companies in Binance and Coinbase.

However, many also believe that the approval of a spot ETF is long overdue for the US market. A successful application by BlackRock, which has a 575-1 success rate for ETF applications, could spark fresh institutional adoption of Bitcoin and spur further growth across the ecosystem.  

In such a scenario, buying crypto now when most tokens are trading well below their bull market peaks could be a great move for investors. 

But it is also worth noting that the SEC’s rejection of the latest spot ETF proposals combined with other market conditions could have a dramatic impact on where crypto markets head both in the short term and long term.

The post WisdomTree, Invesco join spot Bitcoin ETF frenzy as AltSignals hits key presale milestone appeared first on CoinJournal.

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Blackrock, Deutsche Bank embrace crypto as AltSignals raises $1M

  • Blackrock is seeking approval to launch the iShares Bitcoin Trust.

  • Deutsche Bank applied for a new crypto custodian license in Germany.

  • AltSignals has raised over $1 million in its token sale.

Large financial services companies are embracing cryptocurrencies even as the Securities and Exchange Commission (SEC) and other regulators fight key companies in the industry. This explains why most cryptocurrencies have staged a strong recovery in the past few days. Bitcoin price is approaching $29,000 while Ethereum has jumped to $1,830. AltSignals, on the other hand, has raised over $1 million from investors.

Blackrock and Deutsche Bank crypto ambitions

The most important crypto news of this month was the decision by the SEC to sue Coinbase and Binance, the two biggest companies in the industry. The SEC made several allegations such as offering unregulated securities and commingling of customer funds.

The impact of these lawsuits could be dire for the industry. For example, if the SEC wins against Coinbase, the company will have to stop offering staking products. Instead, developers of staked products will need to first get a license from the agency.

Meanwhile, there are signs that many large companies are embracing cryptocurrencies. As we wrote here, Blackrock has applied for the iShares Bitcoin Trust. If accepted, this will be the first spot ETF in the crypto industry.

The fund will make it possible for people to have an exposure with Bitcoin without holding the real coin. It will also enable them to hold the coin without using exchanges like Coinbase and Binance.

It is still unclear whether the SEC will allow the spot ETF since it has rejected others in the past. The main difference is that Blackrock has added some measures to prevent price manipulation in its ETF filing.

The other important cryptocurrency news was the official launch of EDX Markets, a non-custodial crypto exchange. This was a crucial development since the exchange is backed by Wall Street companies like Schwab, Fidelity, and Citadel Securities. All these firms have a major role in the US, with Citadel being the biggest market maker.

Meanwhile, Deutsche Bank confirmed that it had applied for a crypto custody license to Bafin. The company hopes to provide crypto banking services to affluent people in Germany. If the company gets the license, it will be a good thing for the market.

AltSignals token sale raises $1 million

Further, AltSignals, a fintech company that provides trading signals, has raised over $1 million from investors through a token sale. The ASI token is going for $0.015 in the first stage of the token sale and the developers hope to boost its price by 25% in the next stage.

For starters, AltSignals is a company that aims to leverage concepts of artificial intelligence (AI) to provide better signals to its customers. The developers aim to use the funds to help them develop the project. 

In future, AltSignals will become a fully-decentralized platform where ASI token holders will be able to vote for key decisions. 

AltSignals is a good investment for three main reasons. First, the token is extremely cheap, meaning that you can make a lot of money without risking much. Second, the company is already profitable even before it embraces AI. And finally, it is disrupting an industry that is valued at billions of dollars.

The post Blackrock, Deutsche Bank embrace crypto as AltSignals raises $1M appeared first on CoinJournal.