Analysis Crypto by Thebittimes.Com

Bitcoin price prediction remains unchanged as BTC consolidates in a narrow range of $16,450 to $16,750. The two most valuable cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are currently trading at around $16,500 and $1,100, respectively, after failing to break out of their consolidation ranges.  The gloomy cryptocurrency market, which typically underpins riskier assets such as Bitcoin (BTC) and Ethereum, could be to blame for the currency's downward rally. Cryptocurrency prices, including Bitcoin (BTC) and Ethereum (ETH), have stabilized in 2022, with the global market cap falling below $800 billion for the first time in months. This is due to a number of factors, including geopolitical volatility, rising COVID concerns, the Fed's tightening of policy, and the Terra/Luna ecosystem implosion. Ethereum, the second largest cryptocurrency, is trading at around $1,200, but Bitcoin remains well above the $16,500 mark. If news coverage remains positive, crypt...

Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar. Venezuelan Government to Monitor Crypto Transactions The Venezuelan government is aiming to monitor the the movements of crypto-based P2P exchanges to protect the value of the bolivar. On Dec. 20, the Venezuelan banking watchdog Sudeban explained that it is in the process of designing a system to monitor banking transactions in real-time, with the help of Sunacrip, the national cryptocurrency regulator. While no more details were offered, the organization explained the objective is to “fight the irregular practices that attack our currency and the stability of the exchange market.” This means that the government looks to be examining the link ...

Lawsuits and legal concerns have been the flavor for Q4 2022. Gemini and its founders, the Winklevoss twins, were recently sued for fraud. Now, Coinbase customers who sued the company over unauthorized crypto transfers are continuing to withhold their account information. Per a renewed emergency motion filed in federal court, they’re also obstructing efforts to move their lawsuit to arbitration. Coinbase Inc. customers who sued the company over unauthorized crypto transfers withholding their account information and styming efforts to move their lawsuit to arbitration, according to a renewed emergency motion filed in federal court. Latest @BLaw:https://t.co/Sr3kjn6GmX — Skye Witley (@skye_witley) December 28, 2022 Disagreements Arise Between Coinbase And Users Per the filings in the US District Court for the Northern District of Georgia, the plaintiffs agreed to provide the requested information. The same included emails, usernames, and Ethereum addresses. They ex...

Join Our Telegram channel to stay up to date on breaking news coverage The global cryptocurrency market has not performed well in the last 24 hours, given that the total crypto market cap has declined by 1.6% to reach $832 billion. Most coins are consolidating, but this has not prevented Beefy Finance (BIFI) from decoupling from the broader market and making its own rally. In the last 24 hours, BIFI has gained by 15.8%, trading at $368 at the time of writing. BIFI price prediction BIFI is bullish today and has outperformed most of the cryptocurrency market over the past day. In the last 24 hours, the token has shown a notable spike in volatility after trading within the $311 and $456 range. The token has reported trading volumes of over $29 million in the last 24 hours. The high volatility and the gains made by BIFI over the past few days have attracted crypto investors interested in booking profits. Therefore, the token is showing signs of retracing as these traders leave th...

According to a recent report, Kraken, a prominent U.S.-based crypto exchange, announced that it will stop operating in Japan starting next month. With 1,100 employees getting fired, Kraken is one of the worst-hit crypto platforms. According to the crypto ex change , the current state of the market in Japan and the overall crypto market conditions prompted them to take this step. The ex change wrote, “The decision is part of Kraken’s efforts to prioritize resources and investments in those areas that align with our strategy and will best position Kraken for long-term success.” Kraken currently operates as a Financial Services Agency [JFSA] registered exchange. However, on January 31, 2023, it will be de-registered by the Japanese regulator. The exchange as well as the government are currently urging users to withdraw their crypto holdings and fiat investments from the platform. According to a statement from a Japanese government publication, Kraken was urging ...

In a medium update earlier today, DeFi protocol Defrost Finance shared its strategy to reimburse users who suffered in the recent exploit. The team behind the platform noted in a Twitter thread that they had recovered the stolen assets and were set to commence refunds.  The Refund Process The blog post, titled “Details Concerning the Refunding Process” outlined the steps the platform will follow over the next few days. To begin with, the Defrost team will swap all ETH for stablecoins at the current on-chain market rate. Per the post, the most appealing option for this is MakerDAO’s DAI token.  Following the conversion, the next phase of the refund process is to move the stablecoins from Ethereum to the Avalanche ecosystem. Defrost will then begin reviewing on-chain records from before the hack in order to match assets to holders. Once the team has completed the survey it will make the information in question available for public view.  Next, the team will move forward with t...

Bitcoin hodlers may not have much longer to wait before BTC price action gets interesting again. Bitcoin (BTC) hodlers enjoyed another day of zero volatility on Dec. 26 as hopeful forecasts sought signs of a trend change. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Opinions diverge further over BTC price bottom Data from Cointelegraph Markets Pro and TradingView confirmed more sideways action near $16,800 for BTC/USD on Boxing Day. The pair took the holiday period in its stride, with reduced volumes having no impact on an already deflated market experiencing its lowest volatility on record. With few trading opportunities in the last week of “Do Nothing December,” analysts attempted to ready the ship for potential headwinds to come. “If BTC fails to reclaims ~$17,150 as support before the end of the year… Then $BTC will establish the $13900-$17150 range as its new playground,” Rekt Capital tweeted in a fresh update on the day. “Therefore at worst, BTC could drop to th...

Bitcoin has never been so boring, according to the Bitcoin historical volatility index, as Christmas 2022 offers nothing for BTC bulls or bears. Bitcoin (BTC) failed to deliver a Santa rally for Christmas 2023 as Dec. 25 offered even more sideways BTC price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin volatility index plumbs lowest ever levels Data from Cointelegraph Markets Pro and TradingView showed BTC/USD clinging to a tight trading range around $16,800. The pair had stubbornly refused to offer any form of Volatility through much of the week, with an absence of a macro trigger reinforcing lackluster performance. “Bitcoin's volatility is at an all-time low,” William Clemente, founder of crypto research firm Reflexivity, noted alongside a chart of the Bitcoin historical volatility index. Bitcoin historical volatility index 1-week candle chart. Source: TradingView He added that the total crypto market cap had retraced the entirety of its gains fro...

Join Our Telegram channel to stay up to date on breaking news coverage The Cronos price prediction shows that CRO is facing the north because of a recent recovery above the 9-day moving average. Cronos Prediction Statistics Data: Cronos price now – $0.060 Cronos market cap – $1.5 billion Cronos circulating supply – 25.26 billion Cronos total supply – 30.2 million Cronos Coinmarketcap ranking – #28 CRO/USD Market Key Levels: Resistance levels: $0.095, $0.105, $0.115 Support levels: $0.035, $0.025, $0.015 CROUSD – Daily Chart CRO/USD is ranging as the coin moves to cross above the 21-day moving average trading around $0.060. Meanwhile, the Cronos price could maintain the upward movement if the buyers increase the pressure. Cronos Price Prediction: Can CRO Decline Below $0.060 Level? The Cronos price is moving sideways, and with all indications, the coin is likely to follow the downtrend if it crosses below the 9-day moving average...

Ethereum edged closer to a key resistance level of $1,230 on Dec. 23, as markets continued to react to better than expected U.S. GDP data. Gross domestic product in the United States was revised higher to 3.2%, better than the 2.9% expected. Bitcoin mostly consolidated in today’s session, with prices trading near the $16,800 mark. Bitcoin Bitcoin (BTC) was once again in consolidation on Friday, as markets continued to react to the latest U.S. Q3 GDP figures. Following a low of $16,592.41 on Thursday, BTC/USD was marginally higher, with prices rising to a peak of $16,880.87 in today’s session. The surge in price pushed BTC above a key resistance point of $16,800, as bulls once again attempted to recapture the $17,000 mark. BTC/USD – Daily Chart As can be seen from the chart, recent price uncertainty comes as the 14-day relative strength index (RSI) remains close to a floor at 45.00. Sentiment also seems uncertain following a recent crossover between the red 10...

Residents of Brazil can now lawfully conduct transactions within the country using cryptocurrency. This major change came into effect after Brazil’s leadership signed a crypto policy authorizing various digital assets as a legal payment method. Bolsonaro Gives His Signature On Thursday, the president of Brazil, Jair Bolsonaro gave the thumbs up for bill 14.478 to enter into law. Of course, Bolsonaro’s approval was only after the policy had successfully gone through the Chamber of Deputies and the Senate. The president who is set to step down from his position by Dec 31 received the crypto policy on Nov 29 and subsequently enacted it with no modifications. The bill describes a virtual asset as follows: A digital representation of value that can be negotiated or transferred electronically and used for payments or as an investment.”  Following the new bill, several cryptocurrencies can now be considered a legitimate means of payment within the nation. Unlike Central Americ...

U.S. Congressman Warren Davidson has touted the self-custody of cryptocurrencies as the antidote to crypto exchange FTX’s fraud. He is pushing for his bill called “Keep Your Coins Act,” which aims to “protect self-custody from misguided attempts to restrict it.” U.S. Lawmaker Pushes for Self-Custody Congressman Warren Davidson (R-Ohio) has touted crypto self-custody following the collapse of cryptocurrency exchange FTX. He tweeted Wednesday: Self-custody is the antidote to FTX’s fraud and my Keep Your Coins Act would protect self-custody from misguided attempts to restrict it. “Anyone attacking self-custody is telling you they oppose individual freedom,” the lawmaker added. Responding to a question on Twitter about why new laws are needed if people can already self custody today, the congressman replied: Current and previous Treasury secretaries have discussed banning what they call ‘self-hosted wallets’ — self-custody. S...

The California DFPI warned in July that it would be cracking down on crypto interest account providers in the state. The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations. The DFPI stated in a press release on Dec. 21 that it has ordered MyConstant to “desist and refrain” from offering its peer-to-peer loan brokering service and interest-bearing crypto asset accounts, which it says are in violation of the California Securities Law and California Consumer Financial Protection Law. The DPFI alleged that MyConstant’s offering and selling of its peer-to-peer lending service called “Loan Matching Service” violates one of the state’s financial codes. It also alleged that MyConstant engaged in “unlicensed loan brokering,” as the platform induced lenders to lend without proper licenses. The regulators also had a problem with t...

At the midpoint, the guidance represents a growth of 1.1% from its revenue in 2021. According to a new letter to shareholders posted on Dec. 21, Aroosh Thillainathan, CEO of German Bitcoin (BTC) Mining company Northern Data, said that the firm expects to generate upwards of $202M to $206M in revenue from crypto Mining operations this year. At the midpoint range, this represents a growth of 1.11% from Northern Data's total sales of $202M for the 2021 fiscal year, when the firm grew its revenue ten-fold from 2020. Thillainathan added: "Northern Data is not carrying financial debt and therefore has access to the unique opportunity to consolidate and expand our current position in BTC mining while scaling cloud solutions and colocation services in parallel. We see significant opportunities in the HPC [high-performance computing] markets we are targeting." The blockchain CEO also stated that investors should expect guidance of $43M to $80M in adjusted earnings before inte...