The Raffle coin presale has taken precedence over the many ongoing projects yet to be launched. Despite the market decline, it has attracted investors from various segments of DeFi. Continue Reading: Algorand & Ethereum Holders Attracted to Raffle Coin’s Presale Promising Up to 20X Returns Amid Market Decline
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Trading with Confidence: Equiity’s Commitment to Security and Transparency
The post Trading with Confidence: Equiity’s Commitment to Security and Transparency appeared first on Coinpedia Fintech News When trading online in a fast-paced environment, it is very important to have a platform that firstly ensures a high level of integrity, transparency, and a user-friendly human environment. Equiity stands out as a symbol of confidence and competence. It is a financial hub where the trades are done on a sturdy platform regulated and …
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Bitcoin (BTC) Short Covering Likely As US CPI Numbers Could Surprise, Predicts Analyst
On Tuesday, May 14, the world’s largest cryptocurrency, Bitcoin (BTC), faced downward pressure, experiencing a 1% decline and falling below $62,000. This drop was attributed to concerns surrounding US macroeconomic data. According to CoinGlass data, over the past 24 hours, more than $100 million worth of Bitcoin long positions were liquidated. Bitcoin Short Covering Soon? The post Bitcoin (BTC) Short Covering Likely As US CPI Numbers Could Surprise, Predicts Analyst appeared first on CoinGape .
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TON Outperforms Bitcoin By 118%: What’s Driving The Network?
TON has outperformed Bitcoin (BTC) and other crypto assets this year following positive developments from the network and surging on-chain transactions. A new report by on-chain analytics firm CryptoQuant shows a high-flying performance of TON as its performers soar to year-to-date (YTD) highs. $TON is among the best-performing layer 1 blockchains in 2024 “Since the The post TON Outperforms Bitcoin By 118%: What’s Driving The Network? appeared first on CoinGape .
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$291 Billion Asset Manager Founder Predicts Bitcoin Will Hit $420,000
In an interview with Yahoo Finance’s “Wealth,” Ric Edelman, founder of the Digital Assets Council of Financial Professionals and $291 billion asset manager Edelman Financial Services, provided a striking forecast for the Bitcoin price. Edelman argued that Bitcoin’s price could surge to $420,000, attributing this potential rise to a modest global asset allocation towards Bitcoin. Why Bitcoin Price Will Reach $420,000 During the interview, Edelman delved into the advantages of investing in Spot Bitcoin ETFs. He noted that these instruments make Bitcoin accessible in the same way as traditional ETFs, which are commonplace and familiar to investors using ordinary brokerage accounts. “They’re incredibly inexpensive, 20-25 basis points cheaper than going to say Coinbase or other crypto exchange and being in a brokerage account, you can rebalance, you can dollar cost average, you can tax loss harvest,” Edelman highlighted. This setup simplifies the investment process, making it akin to managing any other asset class, thus broadening its appeal to a wider audience. Related Reading: CPI Preview: Bitcoin Price Poised To Surge If Projections Hold True However, Edelman was also candid about the challenges and risks associated with Bitcoin. Despite the advantages offered by ETFs, the inherent nature of Bitcoin as a volatile and risky investment persists. “It’s still Bitcoin, which means it’s still very volatile, it’s still very risky. You could still lose everything,” he cautioned. Edelman pointed to ongoing regulatory uncertainty, potential lawsuits, and prevalent fraud as significant risks that investors need to manage cautiously. He also criticized the trend of investing due to fear of missing out (FOMO), labeling it as a poor investment rationale. Looking ahead, Edelman discussed the regulatory landscape, particularly concerning other cryptocurrencies like Ethereum. He noted that there are several applications pending for Ethereum ETFs, and while he anticipates initial rejections, approvals could follow by year’s end. Related Reading: Bitcoin, Ethereum, And Solana: Galaxy Digital CEO Predicts Next Market Movements “After you have the Bitcoin ETFs and the Ethereum ETFs, I’m not sure how quickly you’ll see anything else after that, but these two will kind of open the doors long term. Five years from now, there will be dozens, perhaps even hundreds of crypto ETFs,” Edelman speculated. This perspective underscores a significant shift towards mainstream acceptance and integration of cryptocurrencies into traditional financial products. Edelman’s prediction of Bitcoin reaching $420,000 is based on an assumption of global asset diversification. By his calculations, if all global asset holders allocated just 1% of their assets to Bitcoin, this would translate to a market cap of $7.4 trillion for Bitcoin alone. “It’s remarkably simple. If you take a look at the world’s global assets, the value of the stock market, globally, the bond market, the real estate market, the gold market, you just look at all the assets everybody in the world owns, it’s about $740 trillion,” he explained. Such an allocation would dramatically increase Bitcoin’s market cap, driving its price up significantly. Moreover, Edelman highlighted a shift in the perception of Bitcoin from a transactional currency to a store of value, similar to gold. “The use case of Bitcoin, although it’s strong for transmittal, is not the strongest argument. It’s now like gold, a store of value,” he stated. This perception shift has attracted more institutional investors, who view Bitcoin as a hedge or an alternative asset class, akin to other non-traditional investments like artwork or collectibles. At press time, BTC traded at $61,909. Featured image from Wealth Management, chart from TradingView.com
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Crypto Hedge Fund BlockTower Capital Faces Major Hack
BlockTower, one of the major cryptocurrency hedge funds has suffered a major hack recently as fraudsters managed to partially drain from its total AUM. Sources familiar with the matter reported this incident while refusing to discuss further sensitive information. As per data provided by PitchBook, BlockTower has more than $1.7 billion in assets under management. The post Crypto Hedge Fund BlockTower Capital Faces Major Hack appeared first on CoinGape .
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10 MemeCoins Ready to Explode After GameStop’s Roaring Kitty Revival
The post 10 MemeCoins Ready to Explode After GameStop’s Roaring Kitty Revival appeared first on Coinpedia Fintech News In a recent analysis by Crypto Banter, a significant development is explored, transcending the cryptocurrency market and representing a broader ideological shift. The study focuses on a resurgence sparked by an X post from Roaring Kitty, alias Keith Gill, known for his role in the GameStop short squeeze. Gill’s X post signals a return to …
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Expert Shares XRP Market Structure with 116,000% Price Rally Potential
XRP, the digital asset designed for cross-border remittances, has experienced a period of consolidation between $0.48 and $0.51 in the past week. This stability comes amidst broader market uncertainty, yet XRP has managed to hold above the key psychological threshold of $0.50. While the immediate price trajectory for XRP remains unclear, several market analysts, including The post Expert Shares XRP Market Structure with 116,000% Price Rally Potential appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
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Fundstrat’s Tom Lee Tips Bullish Drive For Stocks
Tom Lee, the co-founder and Head of Research at Fundstrat has projected bullish sentiment in the stock market. In a May 14 appearance on CNBC’s Closing Bell, the financial analyst noted that it’s time to get bullish behind the stocks following short-term highs in the market. "I think it's time to get bullish," says @fundstrat. The post Fundstrat’s Tom Lee Tips Bullish Drive For Stocks appeared first on CoinGape .
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