Jul 28, 2024 12:00

Bitcoin advocate Mow lists six proposals for Trump's Nashville speech

The Bitcoin advocate aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.

Jul 29, 2024 12:00

Bitcoin advocate Samson Mow lists six proposals for Trumps Nashville speech

Mow aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.

May 09, 2024 01:10

Tether partners with Swan to expand Bitcoin mining operations

Stablecoin issuer Tether has expanded its mining endeavors by collaborating with Swan’s Managed Bitcoin Mining service. According to the press statement, the firm has dedicated an undisclosed amount of substantial capital to establish its Bitcoin mining operations through Swan. Swan’s Managed Bitcoin Mining allows institutional investors to commit a minimum of $100 million to the […]

The post Tether partners with Swan to expand Bitcoin mining operations appeared first on CryptoSlate.

May 02, 2024 12:05

Stablecoin Giant Tether Strikes Gold: Achieves Record Net Profit Of $4.5 Billion In Q1

Stablecoin issuer Tether, a prominent player in the cryptocurrency market behind the widely used USDT stablecoin, has released its audit statement for the first quarter of 2024, accompanied by a report conducted by independent accounting firm BDO.  The report, which provides additional financial information beyond the reserves backing Tether’s fiat-denominated stablecoins, shows the company’s profit for the first quarter of the year, which saw an increased influx of capital into the market.  Tether Q1 2024 Financials Soar Digging into the numbers, the first quarter of 2024 proved highly profitable for Tether, with a net profit of $4.52 billion.  The main contributors, the entities responsible for issuing stablecoins and managing reserves, reportedly generated approximately $1 billion of this profit from net operating gains, primarily from US Treasury holdings. The remaining profits were attributable to mark-to-market gains on Bitcoin (BTC) and gold positions. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons The report also highlighted Tether’s success in increasing its direct and indirect holdings of US Treasuries to over $90 billion. This includes indirect exposure through overnight reverse repurchase agreements collateralized by US Treasuries and investments in US Treasuries through money market funds. In a sign of significant growth, Tether also disclosed its net equity for the first time, revealing a figure of $11.37 billion as of March 31, 2024. This is an increase from the $7.01 billion equity reported as of December 31, 2023.  The report also highlighted a $1 billion increase in excess reserves, which support the company’s stablecoin offerings, bringing the total to nearly $6.3 billion. CEO Emphasizes Transparency And Stability The BDO confirmation reiterated that Tether-issued tokens are 90% backed by cash and cash equivalents, underscoring the company’s stance on maintaining liquidity within the stablecoin ecosystem. Furthermore, the report revealed that over $12.5 billion worth of USDT was issued in the first quarter alone. Tether Group’s strategic investments, which exceed $5 billion as of the report date, span various sectors, including artificial intelligence (AI) and data, renewable energy, person-to-person (P2P) communication, and Bitcoin Mining.  Related Reading: Machine Learning Algorithm Predicts Dogecoin Price For May 2024 In response to the latest report, Paolo Ardoino, CEO of Tether, expressed the company’s commitment to transparency, stability, liquidity, and responsible risk management.  Ardoino highlighted Tether’s record-breaking profit benchmark of $4.52 billion and the company’s efforts to increase transparency and trust within the cryptocurrency industry. Ardoino further claimed: In reporting not just the composition of our reserves, but now the Groups net equity of $11.37 billion, Tether is again raising the bar in the cryptocurrency industry in the realms of transparency and trust.  Featured image from Shutterstock, chart from TradingView.com

Jul 27, 2023 08:20

Robert Kennedy Jr. reveals buying 2 Bitcoin for each of his 7 children

“I’m going to put my money where my mouth is,” the Democratic presidential candidate said as he doubled down on his support for Bitcoin.

Jul 27, 2023 05:50

Robert Kennedy Jr. admits to buying 2 Bitcoin for each of his 7 children

Democratic presidential candidate Robert F. Kennedy Jr. has confirmed he purchased a significant amount of Bitcoin (BTC), earlier this year — buying two BTC for each of his seven children. Speaking in a July 26 Twitter space, Kennedy said the decision came after he received “a lot of criticism” from crypto industry pundits and the [...]

The post Robert Kennedy Jr. admits to buying 2 Bitcoin for each of his 7 children appeared first on Crypto Breaking News.

Mar 27, 2023 05:50

US Lawmaker Introduces Bill to Affirm Blockchain Developers and Non-Custodial Services Are Not Money Transmitters

A U.S. lawmaker has introduced the Blockchain Regulatory Certainty Act to ensure that developers and non-custodial service providers in the crypto space are not considered money transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges. “The longer we delay providing this commonsense clarification, the greater risk that this transformative [...]

The post US Lawmaker Introduces Bill to Affirm Blockchain Developers and Non-Custodial Services Are Not Money Transmitters appeared first on Crypto Breaking News.

Jul 26, 2023 10:45

Tim Draper Predicts Bitcoin Will Outpace Fiat Currencies, Asserts Its Superiority Over Traditional Banking

Renowned bitcoin investor and venture capitalist, Tim Draper, envisions a future where bitcoin emerges as a formidable competitor to the world’s fiat currencies. During a recent interview with Fox News, Draper argued that bitcoin’s inherent safety and superiority surpass those of traditional banking systems and government-controlled fiat currencies. Venture Capitalist Tim Draper Says Bitcoin Is [...]

The post Tim Draper Predicts Bitcoin Will Outpace Fiat Currencies, Asserts Its Superiority Over Traditional Banking appeared first on Crypto Breaking News.

Oct 03, 2022 11:15

Grayscale’s new broker dealer for Bitcoin Trust replaces Genesis

Grayscale Investments, the digital assets investment firm behind the Grayscale Bitcoin Trust (OTCMKTS: GBTC), has unveiled a new broker dealer unit that will henceforth create and issue shares of its flagship crypto trust to investors.

The new unit is dubbed Grayscale Securities, which is a wholly-owned subsidiary of Grayscale and now the latest affiliate of the Trust. The platform will take over from Genesis Global Trading, a sister company of Grayscale.

Both firms are owned by crypto-focused venture capital company Digital Currency Group.

Termination of agreement with Genesis

According to an announcement published on Monday, 3 October 2022, Grayscale Securities is a Delaware Limited Liability Company registered with US Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA). 

Grayscale Securities is now the Authorised Participant, distributor and marketer of the bitcoin trust shares, effective 3 October 3, 2022, Grayscale noted in the document filed with SEC.

Grayscale’s formation and subsequent use as distributor and marketer, means it has terminated its agreement with Genesis, which dates back to 15 November, 2019. The company has also dropped Genesis as its Authorised Participant, ending a deal signed on 11 January 2019.

However, while Grayscale Securities takes over the two roles, Genesis will continue to be a Liquidity Provider of the Trust, according to the document.

The SEC rejected Grayscale’s application to convert its GBTC into a spot Bitcoin (BTC) exchange-traded fund (ETF) in late June this year.Grayscale sued the regulator over the denial, and as reported by Invezz, the Grayscale’s chief legal officer Craig Salm noted the litigation could drag for up to two years.

The post Grayscale’s new broker dealer for Bitcoin Trust replaces Genesis appeared first on Invezz.

from Cryptocurrency – Invezz

Sep 21, 2022 11:10

CoinCorner partners Seed Group to offer Bitcoin trading in UAE

Cryptocurrency exchange platform CoinCorner and Seed Group, a firm owned by the royal family of Sheikh Saeed bin Ahmed Al Maktoum of the United Arab Emirates, are teaming up to offer Bitcoin trading in the UAE, across the Middle East.

This is huge news for the crypto industry, especially with Dubai’s increasing stature as a global destination for companies in the digital assets space.

CoinCorner to bring instant Bitcoin transaction to UAE

The strategic partnership between the British financial services provider and the Al Maktoum family office was announced via a press release both companies published on Wednesday.

We are excited to announce our partnership with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to facilitate #Bitcoin transactions in the UAE ????

Read the full announcement on our blog… https://t.co/5rNvGgIFSJ

— CoinCorner ?? Buy Bitcoin at CoinCorner.com (@CoinCorner) September 21, 2022

The deal will help Seed Group support CoinCorner’s operations in the country, with the crypto exchange setting up a user-friendly trading desk to allow for easy access to services. The platform will allow UAE residents to buy, sell, and store Bitcoin (BTC)among other transactions, the two firms noted in the announcement.

Danny Scott, co-founder of CoinCorner, commented:

“We are pleased to enter into a mutually beneficial partnership with Seed Group. The collaboration will help propel our business interests and goals in the MENA region through the group’s support and a strong base of regional connections.”

Isle of Man-based CoinCorner launched its operations in 2014. In January 2021, the platform added support for Lightning Network, a Bitcoin scaling solution developed to allow for faster and cheaper BTC transactions amid the push for greater mass adoption.

According to Scott, the partnership will help CoinCorner bring Bitcoin to more people, making the BTC transactions the “new normal” across the UAE and the Middle East.The exchange could tap into its suite of unique solutions, including the recently announced Bolt Card to offer access to instant and frictionless Bitcoin payments.

The post CoinCorner partners Seed Group to offer Bitcoin trading in UAE appeared first on Invezz.

from Cryptocurrency – Invezz

Sep 21, 2022 02:50

MicroStrategy buys 301 BTC, what’s next for Bitcoin?

In the latest bitcoin news MicroStrategy purchased 310 Bitcoins, and crypto lending protocol Maple Finance launched a $300 million lending pool for Bitcoin mining firms.

Bitcoin (BTC/USD) is the largest cryptocurrency in terms of market capitalization, and its price movements will typically send ripples throughout the entire blockchain space.

MicroStrategy purchases and Maple Finance lanch as catalysts for growth

Michael Saylor made an announcement on September 20, 2022, that Microstrategy purchased an additional 301 Bitcoins for $6 million, where the average cost per Bitcoin is $19,851.

What this means is that MicroStrategy now holds 130,000 Bitcoins, which were acquired for a total of $3.98 billion at an average price of $30,639 per bitcoin.

Furthermore, the institutional crypto lending protocol known as Maple Finance, as well as its delegate Icebreaker Finance made an announcement that they will provide up to $300 million worth of secured debt financing to the public as well as private Bitcoin mining firms.

Both of these updates indicate that the interest in Bitcoin (BTC) is far from over, which could drive demand and value for the cryptocurrency further.

Should you buy Bitcoin (BTC)?

On September 21, 2022, Bitcoin (BTC) had a value of $18,887.

BTC/USD Chart By TradingView.

To get a better perspective about its current price point and future growth potential, we will be going over its all-time high and performance throughout the previous month.

The all-time high of the Bitcoin (BTC) cryptocurrency was on November 10, 2021, when it reached a value of $69,044.77.

When we go over the performance of the cryptocurrency throughout the previous month, Bitcoin (BTC) had its highest point of value on August 15 at $24,887.19. Its lowest point of value, however, was on August 29 at a value of $19,616.81.

Here, we can see a decrease in value of $5,270.38 or by 21%.

However, since then, the cryptocurrency has decreased further and is worth $18,887.

With the recent updates and developments surrounding the Bitcoin (BTC) cryptocurrency and blockchain space as a whole, investors might want to buy Bitcoin as it can climb to $22,000 by the end of September 2022.

The post MicroStrategy buys 301 BTC, what’s next for Bitcoin? appeared first on Invezz.

from Cryptocurrency – Invezz

Jul 02, 2022 02:25

Ethereum Price HOLDS 1K unlike Bitcoin! Is ETH better than BTC?

In this Ethereum price prediction article, we take a look over whether Ether will crash or stay in consolidation. Is ETH better than BTC?

Jun 30, 2022 04:15

Swiss Consortium Chooses Sunny Central American Nation of El Salvador to Launch Fully SOLAR POWERED 'Green' Bitcoin Mining...

 

One year after the adoption of Bitcoin as an official currency, the town of Chalatenango in the north of El Salvador will host the first private, solar powered bitcoin mining farm in the Central American nation.

The funding comes via a Swiss consortium working with Salvadorian Josué López, who is originally from the town, and has chosen to invest in his home nation.

Highlighted in red, Chalatenango is the nation's most north region.A 6 megawatt photovoltaic solar power farm will mine Bitcoin entirely on renewable natural resources...The first piece of the foundation of the photovoltaic plant that will provide energy to the bitcoin mining farm was placed yesterday at the "Anchor I" project, which is located in the Chalatenango province's El Gavilán canton.
Ambassador Mayorga tours the future site of solar Bitcoin mining farm.
Milena Mayorga, the El Salvadorian ambassador to the United States, attended the occasion and revealed on Twitter that the renewable energy park's initial investment is $4 million, despite the fact that it is anticipated that the first stage will cost USD 15 million.

"Perhaps this is the largest private investment ever reported in Nueva Concepción, Chalatenango" remarked Ambassador Mayorga, adding that 200 million USD will be invested in the region.

-------Author: Fernando Perez
Latin America Newsdesk | Mexico City
Breaking Crypto News

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May 12, 2022 06:10

Grayscale Met With The SEC, Tried To Convince Them To Turn The GBTC Into An ETF

Will GBTC get to become the first US-based spot bitcoin ETF? The euphoria from six months ago turned into Grayscale hinting that it might sue the SEC if its request is denied. Currently, the climate dictates that the answer will probably be negative, but the company is not giving up. According to CNBC, Grayscale “met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF.” Related Reading | Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund The Grayscale Bitcoin Trust, also known as GBTC, “holds roughly 3.4% of the world’s bitcoin and is owned by more than 850,000 U.S. accounts, according to Grayscale.” For more than a year it has traded at around a 25% discount to BTC’s price. According to Grayscale, at the moment that the SEC approves the product’s transformation into an ETF, the discount will end and it will unlock “up to $8 billion in value for investors.” Take into account that VanEck’s, BlockFi’s, and other recent applications for a spot bitcoin ETF have been rejected. And that Grayscale has been applying to get one since 2017. This time around, the SEC has until July 6th to approve or deny the GBTC application. What Would Happen If The GBTC Turns Into An ETF To answer this question, Grayscale made “a 24-page presentation” for the SEC. Some graphs from the document are in the CNBC report, although in low resolution. In general, the GBTC’s transformation into a spot bitcoin ETF “would open them up to ordinary investors in a familiar wrapper that trades like a stock.”  The main argument from Grayscale is that a bitcoin futures ETF already exists, and the “SEC is discriminating against issuers” by not letting any company create a spot bitcoin ETF. “ Grayscale contended that a spot bitcoin ETF is “no riskier” than futures-based ETFs, because the two markets are both affected by the underlying price of bitcoin and track each other closely.” Back in April Grayscale’s CEO, Michael Sonnenshein, felt more litigious when he said: “If the SEC can’t look at two like issues, the futures ETF and the spot ETF, through the same lens, then it is, in fact, potentially grounds for an Administrative Procedure Act violation.” The SEC visit and the threat of legal action have not been Grayscale’s only weapon. According to CNBC, to help transform the GBTC into an ETF, “the investment firm has helped coordinate a public letter-writing push, flooding the SEC with more than 3,000 letters in support of its application.” GBTC price chart on FTX | Source: GBTC/USD on TradingView.com How Would A Spot Bitcoin ETF Affect The Market? Opinions vary. There are institutions that can’t invest in bitcoin as an asset, but could definitely put their money in an ETF. Some believe that the sudden influx of funds that these people would bring would send bitcoin’s price to the moon. Unlike a future ETF which only holds future contracts, a spot ETF would have to buy the bitcoin it’ll represent. So, the money would definitely enter the bitcoin ecosystem. Related Reading | SEC, Ripple Agree To Extend Legal Battle Until 2023; XRP Bears The Brunt Of Case On the other hand, Bitcoiners don’t see what they deem as “paper bitcoin” with good eyes. The financial instrument would represent bitcoin, but the ETF isn’t the asset per se. This brings forth certain vulnerabilities to the bitcoin network. The “paper bitcoin” could be considered inflation and something akin to fractional reserve banking is technically possible. In any case, neither group has the finger on the trigger. The SEC and only the SEC does. Featured Image by Aymanejed on Pixabay | Charts by TradingView

Apr 26, 2022 04:45

Wen Lambo fixed? Mechanic receives first payment in Bitcoin to mend Lamborghini

When a Lamborghini owner didn’t have cash on them to pay for their repair job, they used Bitcoin to pay Kansas City welder JayFab.

Apr 24, 2022 07:40

Who is Michael Saylor?

If you are in the crypto space, you’ve heard of Michael Saylor. Here’s more about him and how he has been influential for Bitcoin. Covered: Michael Saylor’s Early Life MicroStrategy Bitcoin Investments (The Michael Saylor Way)  Michael Saylor’s Early Life Michael J. Saylor is a native of Lincoln, Nebraska, and was born on February 4, […]

The post Who is Michael Saylor? appeared first on CryptosRus.

Apr 20, 2022 01:30

Is Inflation BAD for Bitcoin Price?

Inflation is feared in markets worldwide. It not only affects economies in different countries, but also cryptos. Is inflation bad for Bitcoin?

Apr 08, 2022 07:10

Forgot your Bitcoin Password? THIS is how to Recover your Cryptos!

Anyone who has invested their money in Bitcoin or other cryptocurrencies must also keep them in a wallet. But what happens if you forget your password for Bitcoin, the so-called private key ? Are Bitcoins lost forever?

In this article we will tell you what you can do if you have forgotten your Bitcoin password. We explain how the Bitcoin password works in the first place and what the best methods are to ensure that you keep your coins safe and still don't lose access to them.

What is a Bitcoin Password?

Bitcoin does not have a classic password, like an account on a website. To access your coins in a Bitcoin wallet, you need a key, the so-called private key. This key is also often called a crypto wallet seed. The seed usually consists of 12 or 24 words that the system selects for the user.

Without this private key, it is not possible for the owner to access the cryptocurrencies in their own wallet . If lost, the owner can no longer sell coins or transfer them to another account.

Every person who wants to buy cryptocurrencies needs a place to store the coins. This can be on a crypto platform. Most exchanges give customers the option to hold their cryptocurrencies in the online wallets on the platform. However, it is safer to have your own personal wallet, which is secured by a private key. You can find more information about the different wallets here .

Can you change the Bitcoin Password if you forget it?

On normal accounts on the Internet, users can usually easily change their password if they have forgotten their old password. The situation is different with Bitcoin. Anyone who has forgotten their password, i.e. their Private Kay, cannot set a new password for Bitcoin again.

The Bitcoin process, in which you must not forget your password, therefore has a very high-security value. But the risk of losing your Bitcoins is very high if you forget your password. However, it is possible to change the password for other cryptocurrencies outside of bitcoin.

Can Bitcoin Password be recovered?

Unfortunately, a password for a Bitcoin wallet cannot be changed. The private key remains the same. Anyone who has forgotten their password for the Bitcoin can only help themselves in this case if they can restore the seed. Saving or writing down the private key can help to find the private key if you forget it.

However, there are now companies that specialize in recovering the private key for Bitcoin. It is important not to fall for possible scammers who only want access to their own bitcoins. However, no provider can guarantee 100% that the private key can be recovered in a specific case.

Now you have the opportunity to purchase the Bitcoin. Easily buy BTC and other coins on the Binance  and  Bitfinex exchanges !

What Happened when someone forgot their Bitcoin Password?

In recent years, numerous Bitcoin owners have forgotten their password when trying to regain access to Bitcoin. One of the most famous examples is the person of Stefan Thomas. The German programmer reportedly owns a whopping $200 million in Bitcoins.

There are said to be over 7,000 coins that Thomas owns. Thomas no longer has access to this massive number of coins. It is speculated that there are several such cases where crypto owners hold massive amounts of bitcoin and other cryptocurrencies but no longer have access to them. 

How to NEVER FORGET your Bitcoin Password?

Stefan Thomas is far from an isolated case. It is said that around 1,500 coins are lost every day. It is therefore important not to let things get too far. You should therefore save your private key both offline and digitally by simply writing it down on a small piece of paper...Old school still rocks!

Bitcoin btc© Cryptoticker

Mar 21, 2022 07:10

This COUNTRY is running on Bitcoin – Bitcoin El Salvador Success Story

In 2021, El Salvador was the first country in the world to make Bitcoin its national currency. The country in Central America took a step that triggered a lot of enthusiasm in the crypto community. However, the country also had to accept a lot of criticism. Is Bitcoin El Salvador story really a success?

What will the situation look like in 2022? How Much Success Did El Salvador Have With Bitcoin Adoption? In this article, we're going to summarize how Bitcoin is being accepted as a currency in El Salvador and what the future may hold for the relationship.

Where is El Salvador Crypto

El Salvador is a small country in Central America, bordered by Guatemala and Honduras, and has a Pacific coast to the west. In terms of area, El Salvador is roughly the size of the federal state of Hesse. It is the smallest country in the region but has the highest population density in Central America. The region is one of the poorest regions on the continent. 

This country has a population of 6.5 million, 1.75 million of whom live in the capital, San Salvador. Spanish is spoken in the country. The country is characterized by a chain of volcanoes, which becomes even more important when it comes to Bitcoin. The US dollar has been recognized as the national currency since 2001. As a very poor country with a high crime rate, positive economic development is urgently needed.

Why was interest in Bitcoin so great in El Salvador?

As mentioned in the last paragraph, the US dollar has been the local currency in El Salvador since 2001. In 2021, the Central American country had not had its own currency for 20 years. This makes the country extremely dependent on US monetary policy. President Nayib Bukele now wanted to end this dependency.

The President saw Bitcoin as an opportunity to create new independence for El Salvador's economy by breaking away from the USA and driving the country's economy with the introduction of Bitcoin as the national currency. The President is a big fan of blockchain technology and sees enormous potential in cryptocurrencies.

In general, Latin America is a very friendly region for alternative means of payment such as cryptocurrencies. Many countries have an interest in making their economy autonomous from large economic powerhouses like the USA. Bitcoin is also arousing great interest in countries such as Panama, Argentina and Brazil. In many of these countries, their own FIAT currencies are very unstable and weak against world currencies like the US dollar.

When did El Salvador start Bitcoin Eonomy?

On September 7, 2021, President Bukele signed the law making Bitcoin the additional official national currency in El Salvador. The entire process of legislation took only 3 months, which is an indication of how enthusiastic the President and MPs were about Bitcoin adoption. 

What have been the reactions to BTC as El Salvador's national currency?

The people of El Salvador mostly responded positively to the conversion and the introduction of bitcoin. However, problems arose as the government required shops in the country to provide the ability to accept payment with bitcoin. El Salvador introduced the "Chivo" stock exchange, which all residents are to download. When they did, they received $30 in bitcoin directly from the government.

Abroad, the introduction of bitcoin as a national currency caused great skepticism. The International Monetary Fund (IMF) spoke of "legal and financial concerns" for the country. The World Bank categorically refused to support the country in the transition. Many of these institutions still attach to the US dollar system, which explains their critical stance. 

The crypto community around the world took the news extremely positively in 2021. In the run-up to the launch, the rumors and later confirmed plans in El Salvador caused Bitcoin prices to rise.

How does El Salvador keep the Bitcoin economy going?

Despite the critical voices, the President of El Salvador stayed on course and established Bitcoin as an additional currency in the country. Although the switch to Bitcoin payments is still sluggish, especially in poorer regions, the country has built up a solid Bitcoin economy. The government itself has repeatedly bought millions of dollars in Bitcoin when the price was particularly low. 

One of the most important developments is the mining of Bitcoin in El Salvador using volcanic energy. Near the city of Berlin (in El Salvador), a geothermal factory that has been in existence for over 20 years is now in production to mine Bitcoin. This is now the primary mining farm in the country, using the energy of the Tepaca volcano to mine Bitcoin.

Bitcoin El salvador© Cryptoticker

Mar 08, 2022 07:10

Bitcoin or Ethereum, which is better to Buy in 2022? You might be Surprised!

There is a strong debate in the crypto community whether Bitcoin or Ethereum is a better buy for 2022. Ethereum prices reached strong resistance prices of $2,750 and $3,000. On the other hand, Bitcoin is also struggling to break past the $45,000 price mark. Despite Bitcoin being the market leader, crypto enthusiasts prefer Ethereum's blockchain for its smart-contract features. Which is better to buy in 2022, Bitcoin or Ethereum? Let's check the technical formations!

Is Ethereum Price still bullish?

The Ethereum price has formed a falling wedge during the correction over the past few weeks. This wedge serves as a continuation pattern, which is why we continue to expect bullish prices. The price could break out bullish soon as we are in the final third. Because of this, we assume that he will soon take the next step forward. The price could make a new high. This would happen once the price climbs above $3,280.

>>CLICK HERE TO INVEST IN ETHEREUM<<

Fig.1 ETH/USDT 1-day chart showing Ether's trend - TradingView Ethereum or Bitcoin – Which will Perform Better?

The Ethereum/Bitcoin pair has been able to form a trend line in the past few months. This trend line is heading towards the 0.08 BTC resistance. This creates an ascending triangle that could soon break out. Since the price is currently on the trend line, we assume that the Ethereum-Bitcoin price could soon rise more sharply. Ethereum would thus outperform Bitcoin, which is why we assess the situation in such a way that an investment in Ethereum could be currently more worthwhile.

Fig.2 ETH/BTC 1-week chart showing the potential reversal in favor of ETH - TradingView Conclusion

The above analysis relies purely on technical analysis. On the other hand, it is very important to understand that asset prices are also affected by fundamental news. If Ethereum faces strong backlash from the community regarding a specific issue with its blockchain, Bitcoin can still outperform. That's why it is very crucial to always keep a lookout for what's happening in the crypto community and what the latest developments are.

Bitcoin vs Ethereum© Cryptoticker