Crypto World Analysis

2022-06-20 11:23:02 Mad Money's Jim Cramer Expects Bitcoin to Fall to $12,000

The host of Mad Money, Jim Cramer, has predicted that bitcoin’s price will fall to $12,000. Nonetheless, he has recommended bitcoin and ether for people wanting to invest in crypto.He was asked whether he thinks bitcoin is going to bounce from the current level, or whether BTC will go down another 50% or more.

Jim Cramer, the host of Mad Money, talked about the future outlook for bitcoin on CNBC Friday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Microstrategy recently debunked the rumor that it is facing a margin call for a bitcoin-backed loan from Silvergate Bank and will need to liquidate some BTC.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-19 12:02:02 Adam Back Reiterates $100K BTC Price Prediction

Despite the recent pullback of the cryptocurrency market, the British cryptographer and an outspoken supporter of bitcoin – Adam Back – thinks the asset could tap $100,000 by the end of 2022. He also admitted that he kept buying amounts of BTC and HODL for the long term.

The cryptocurrency industry has collapsed significantly in the past week, causing panic among investors and doubts about whether the asset class could overcome its issues. An example of the minor mood is Bitcoin’s Fear and Greed Index, which dropped to 7 (a level unseen since early 2020 when COVID-19 shocked the world). Contrary to the negative trend, the CEO of the blockchain technology firm Blockstream – Adam Back – envisioned a bright future for the primary cryptocurrency, forecasting its USD valuation to tap $100,000 by the year’s end.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-18 07:47:02 Tether Claims 'Coordinated' Conspiracy Is Trying to Take It Down

Tether goes on to claim that these rumors are part of a "Coordinated" attempt to generate profits from a failing Tether. "Tether condemns such attempts which oftentimes see simple users take the biggest hit, while few coordinated funds increase their profits."

Tether " held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018," the CFTC said, adding that Tether co-mingled reserve funds with corporate and user funds, and held non-fiat instruments as reserves.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-17 07:22:02 Total Flows on Exchanges Shows 370% Rise as Market’s Volatility Topping

With the spike in volatility on the cryptocurrency market, exchanges have faced a massive spike in inflows as traders were actively shorting, withdrawing and hedging on the market, according to IntoTheBlock.

The massive spike in exchange outflows could have been one reason for a series of withdrawal limitations on the biggest centralized exchangers in the industry, including Binance. While the exchange's representatives stated that it was nothing but a technical issue, users started to move their funds away from exchanges in panic. During periods of high upward volatility, exchanges usually see higher inflows as users are looking for ways to gain exposure to rallying assets.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-16 19:07:34 ​ How to get a profit from NFTs?

Purchase NFTs during the drop while the starting price is low! And then just watch how the price of that NFTs grows in value

So, meet PicVerse and their unique InuDoge collection!

PicVerse: what is it about? First of all, it represents unique and valuable NFT collections. The first collection, InuDoge, is available for purchase starting from today!
Moreover, the project will introduce OldDoge tokens and NFT marketplace in the near future. Further, it will move in the direction of GameFi and Metaverse
But what is more significant, PicVerse will engage in fintech start-ups funding!

More about InuDoge collection:

There are 20,000 items from InuDoge Original available for purchase. The items will be available after the start of the sale:

https://opensea.io/collection/inudogeoriginal

And only 150 Exclusive Inus from Person collection! The link:

https://opensea.io/collection/inudogeperson
Each of them represents a celebrity from the real world or is based on the character
Everyone can become the owner of the Inu. They differ by pattern, appearance and hobbies. Come and find yours!
Drop: Live, hurry up


Don't miss your chance to join the community by purchasing unique NFTs to enjoy this amazing journey with PicVerse!

Opensea https://opensea.io/PicVerse
Website https://picverse.art
Telegram Channel https://t.me/pic_verse_art
Telegram Chat https://t.me/pic_versechat
Twitter https://twitter.com/pic_verse
Instagram https://www.instagram.com/pic_verse/

#ad @CWNAdam Open / Comment

2022-06-16 07:36:02 Bill Gates: Crypto and NFTs '100% Based on Greater Fool Theory'

Billionaire Microsoft co-founder Bill Gates has dismissed investments in cryptocurrencies and NFTs, arguing that the digital assets market is largely driven by speculation.

The greater fool theory refers to the idea that one can make money by investing into overvalued assets and selling them for a profit later, because there will always be someone else who will come along and pay a higher price. “Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically, in a reference to the popular Bored Ape Yacht Club (BAYC) NFT collection that attracted billions of dollars and celebrity endorsements.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-15 12:25:03 MicroStrategy Liquidates $103M Worth Bitcoin

Alongside Bitcoin’s drop under $25,000, it is important to recall MicroStrategy’s CFO’s comments. The comments were regarding the possibility of getting a margin call at $21,000 on the company’s huge BTC holdings.

On the May 3 earnings call, Phon Le, the firm’s new Chief Financial Officer, described the collateralization method on MicroStrategy’s Bitcoin position. He assured that they need not put extra cash into their holdings. As MicroStrategy prepares its first margin call, investors are at ease. This is due to the large liquidity collateral at the company. The company’s current capital is more than sufficient to support the present position and begin a fresh one.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-14 12:04:02 The CFTC’s action against Gemini is bad news for Bitcoin ETFs

On June 2, 2022, the United States Commodity Futures Trading Commission (CFTC) initiated an action against Gemini, the crypto exchange founded by billionaire twins Tyler and Cameron Winklevoss. Among other things, the complaint alleges that Gemini made a number of false and misleading statements to the CFTC.

While the Winklevoss brothers were not named in the suit, the complaint alleges that “Gemini officers, employees and agents […] knew or reasonably should have known that the statements and information conveyed or omitted […] were false or misleading.” These are serious accusations, considering that CFTC’s third and twelfth core principles require markets involved in derivative trading.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-13 12:27:02 Lithuanian Government Approves Stricter Crypto Regulations

The government in Vilnius has approved amendments introducing more stringent regulations for the country’s growing crypto space. The legislation is aimed at managing risks associated with crypto assets and preventing Russian attempts to circumvent Western sanctions imposed over the war in Ukraine.

Lithuania is preparing to revise its Law on Prevention of Money Laundering and Terrorist Financing with the stated goal of ensuring greater transparency and sustainable development for its cryptocurrency sector. This week, the government approved amendments that the small Baltic nation plans to adopt before the upcoming EU regulations. The new provisions have been prepared by the Ministry of Finance, the Bank of Lithuania, the Financial Crime Investigation Service, the Ministry of Interior, and the Lithuanian Money Laundering Prevention Competence Center.

Source

@CryptoWorldAnalysis Open / Comment

2022-06-12 15:34:02 Coin Center takes US Treasury to court over alleged financial spying

Coin Center filed a lawsuit against the Treasury Department in federal district court — challenging the enforcement of Section 6050I’s reporting mandate. Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.

The 6050I amendment requires individuals and businesses to report information related to all incoming transactions worth $10,000 or more, which includes the sender’s name, date of birth and Social Security number. Coin Center, in its announcement, highlighted how the amendment affects the entire crypto community, including the NGOs that receive anonymous donations and nonfungible token (NFT) artists who will have to reveal their client’s personal information to the government.

Source

@CryptoWorldAnalysis Open / Comment