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Dogecoin jumps hours after Elon Musk suggests Tesla will accept DOGE payments in the future

Popular meme asset Dogecoin (DOGE) is surging after Tesla CEO Elon Musk suggested that the electric car company could accept DOGE payments in the future.

Speaking at Giga Berlin, a Tesla factory in Germany, the billionaire and longtime Dogecoin advocate was asked when Tesla would accept the dog-themed digital asset as payment for its vehicles.

The business tycoon responded that it could be a possibility in the future, noting that consumers can already use DOGE to purchase Tesla products.

“When will you be able to buy a Tesla with Dogecoin? At some point, I think we should allow that. “You can buy Tesla products with DOGE, which is great, so Dogecoin to the moon.”

Musk goes on to explain that he became a fan of DOGE after realizing that regular people were excited about it.

“Actually, a lot of people may not know that the reason I ended up supporting Dogecoin was because I was walking through the Tesla factory and some people were just working on the line, not rich people or anything, and They said: ‘Can you support DOGE?

And I was also at SpaceX, walking around the factory and some normal guys said, ‘Hey, can you support DOGE?’ And I said, ‘Hmm, you know what?’ DOGE is the people’s crypto, so I’m going to support it because a lot of rich people supported Bitcoin, but I thought, ‘Hey, if the people in line want me to support DOGE, I’ll support DOGE.’ DOGE is for you.

In the hours following Musk’s comments, DOGE jumped from a 24-hour low of $0.166 to a 24-hour high of $0.189, a jump of nearly 14%. Dogecoin has since stabilized and is trading at $0.173 at the time of writing, a gain of 3.68% over the past 24 hours.

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Bitcoin cryptocurrency exchange Cryptocurrency news

London Stock Exchange Embraces Digital Assets by Accepting Crypto ETN Applications

In a pivotal announcement, the London Stock Exchange (LSE) announced its intention to accept Bitcoin and Ethereum exchange-traded note (ETN) applications, signaling a significant shift towards the integration of digital currencies into traditional financial markets.
LSE Announces Acceptance of Crypto ETNs

The launch of the Bitcoin (BTC) and Ethereum (ETH) ETNs on the LSE platform marks a crucial development for investors seeking regulated pathways into the rapidly evolving crypto sector. These instruments are designed to track the price movements of Bitcoin and Ethereum, creating a link between the dynamic prices of cryptocurrencies and the traditional stock market structure.

“The proposed Crypto ETN: (a) is physically backed, that is, without leverage; (b) has a market price or other measure of the value of the underlying that is reliable and publicly available”, highlights the focus on security and transparency of this innovative product. The fact sheet details also emphasize the protection of assets through cold storage, thereby increasing investor confidence in the sustainability and security of these offerings against online risks.

This decision by the LSE to adopt crypto ETNs reflects the evolving regulatory landscape and the growing acceptance of crypto assets in the financial sector. This comes after the UK Financial Conduct Authority (FCA) indicated its openness to cryptocurrency-related ETNs.

Mikkel Morch, founder of digital asset investment fund Ark36, spoke to Bitcoin.com News, stating that the rise in Bitcoin prices to all-time highs coincides with the FCA facilitating the introduction of crypto-connected exchange-traded products.

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Bitcoin cryptocurrency exchange Cryptocurrency news

Cryptocurrency Price Prediction: BitBot, BabyBonk, Cryptex Finance

Cryptocurrency prices were mixed over the weekend as investors focused on upcoming US inflation data. Bitcoin remained slightly below $70,000, while Ethereum was stuck at $3,950. Tokens like BabyBonk, Cryptex Finance, and Rarible rose, while others like Wen, Solama, and Coq Inu fell by double digits. This article discusses what to expect from BitBot, CTX and BabyBonk.

BabyBonk Price Prediction

BabyBonk is a meme coin that was designed inspired by Baby Doge Coin, one of the main tokens today. It is a BNB token that aims to be a better alternative to Bonk, the fourth largest meme coin in the world.

Aside from simply being a meme currency, the token has more uses, such as an NFT collection of 1,000 unique cards. It also has a unique card game known as Bonk Royale that people can play and earn rewards.

BabyBonk price rose sharply over the weekend, reaching a high of $0.000000000099, its highest point since March 4. The token has skyrocketed above all moving averages and is approaching its all-time high of $0.000000000010.

It also became very overbought, with the Relative Strength Index surpassing 100. The MACD indicator also spiked. Therefore, the outlook for BabyBonk price is moderately pessimistic as some investors begin to take profits. If this happens, the token could fall and retest the support at $0.000000070. It will then recover as other cryptocurrencies recover.

Unlike BabyBonk and Cryptex Finance, BitBot is not a cryptocurrency you can trade for now. Instead, it is a crypto project that moved to token sales before its release to the public market.

BitBot is a company that aims to revolutionize the financial trading sector. The developers intend to launch a Telegram bot that will send signals to thousands and even millions of users around the world.

Unlike many other Telegram bots, this one will be non-custodial, ensuring users maintain full control.

The other benefit is that it will be a decentralized bot, ensuring that $BITBOT token holders will have a say in the network. They will be able to vote on important decisions and also receive part of the income generated.

The BitBot token sale is going well and the developers have raised over $900,000 from global investors. These investors hope to benefit from the token’s eventual listing in the coming weeks. You can buy the BitBot token here.

Cryptex Finance Price Prediction

Cryptex Finance’s CTX token has become one of the best-performing cryptocurrencies on the market. It rose to a high of $6 on Saturday, giving it a market value of more than $28 million. As it rose, the token crossed the important resistance point of $3.75, its highest point in March. This invalidated the double top pattern.

Cryptex held above the 50-period moving average and formed what appears to be a bullish pennant pattern. Therefore, the outlook for the token is extremely bullish, and the next point to watch is $6. A break above this point will confirm the bullish outlook.

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Bitcoin Cryptocurrency news Investment News

Arizona State Considering Adding Digital Asset Exposure to Retirement Funds

Arizona is evaluating whether to add exposure to digital assets in government pension funds’ investment portfolios.

A new resolution passed by the Arizona state legislature would take a step toward converting pension funds for government and public safety employees into exchange-traded funds (ETFs) based on digital assets.

The proposal comes about a month after the US Securities and Exchange Commission (SEC) approved Bitcoin (BTC) spot ETFs. The agency may also approve additional ETFs for other digital assets like Ethereum (ETH) at some point in the future.

If passed, the resolution calls on the Arizona State Retirement System (ASRS) and Public Safety Personnel Retirement System (PSPRS) to take several actions that could lead to retirement funds gaining exposure to digital assets.

There are three main actions that ASRS and PSPRS must take:

“a) consider the implications of including a digital asset ETF in your investment portfolios.

b) closely monitor the development of Bitcoin ETFs and other digital asset ETFs and consider the implications of including such assets in your investment portfolio after consulting with any company to which the U.S. Securities and Exchange Commission has granted approval to offer a Bitcoin ETF digital assets.

c) present a comprehensive report on the feasibility, risk, and potential benefits of allocating a portion of state retirement system money to digital asset ETFs, including a list of options and recommendations on how the state could safely invest in the class of digital assets for the State. Treasurer, President of the Senate and Speaker of the House of Representatives at least three months before the beginning of the Fifty-seventh Legislature, First Regular Session.”

The Republican-sponsored resolution recently passed the state Senate by a vote of 16 to 13. Only Republicans voted for it, while only Democrats opposed it. The resolution is now being considered by the state House.

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cryptocurrency exchange Cryptocurrency news Investment News

Deribit Exchange Expects Bitcoin to Rise 20% in Next 30 Days, Targeting $80,000

In a major milestone for the cryptocurrency market, Bitcoin (BTC), the largest digital asset, broke its previous records, surpassing the $69,000 mark to set a new all-time high (ATH) of $69,300 on Tuesday.

The achievement marked a historic moment for BTC, which had not reached such levels for more than two years. However, the cryptocurrency’s upward trajectory shows no signs of slowing down, with experts predicting further price gains.

Bitcoin and ETF price in perfect harmony

According to data from Deribit, a crypto futures and options exchange and analysis company, GenesisVol, BTC is expected to see a potential rise of up to 20.8% in the next 30 days.

These projections suggest that, under ideal circumstances, the price of Bitcoin could surpass the $80,000 barrier. Even conservative traders are optimistic and expect BTC to easily surpass $70,000 and reach around $75,000.

Additionally, the recent approval of spot Bitcoin exchange-traded funds (ETFs) has played a key role in Bitcoin’s success, suggesting that the upward trend in BTC prices, coupled with bullish sentiment among options traders and institutional and retail investors, is far from over. .

Bloomberg ETF expert Eric Balchunas emphasized the importance of this development and stated that it represents a pivotal moment for both Bitcoin and ETFs. Balchunas believes the rise from $25,000 to $69,000 was largely due to hopes of ETF approval and subsequent flows.

The expert stated that the synergy between ETFs and Bitcoin has proven to be mutually beneficial as ETFs have increased liquidity, accessibility, convenience and standardization for investors.

Notably, ten-hold Bitcoin ETFs have amassed over $50 billion in assets, with a staggering $8 billion generated from inflows and the remainder attributed to Bitcoin’s rising value.

However, when Bitcoin reached its new peak, increased market volatility caused a surge in liquidations. Journalist Colin Wu reported a sharp 5% drop in the price of Bitcoin in one hour, with Binance recording less than $65,000. During this hour, deals reached a staggering $142 million.

BTC sell signal

Although bullish investors are currently on cloud nine, renowned crypto analyst Ali Martinez sounded the alarm when the TD Sequential indicator recently issued a sell signal on Bitcoin’s daily chart.

The TD Sequential indicator, developed by market expert Tom DeMark, uses price patterns and sequences to identify potential trend changes in various financial markets, including cryptocurrencies.

Martínez emphasized the indicator’s notable track record in predicting Bitcoin price movements since the beginning of the year. The TD Sequential indicator issued a buy signal in early January, just before the price of Bitcoin rose 34%.

On the other hand, a sell signal was given in mid-February, followed by a 4.44% drop in the value of BTC. Therefore, considering the previous sell signals, a possible drop to the $62,000 price level could be underway for the largest cryptocurrency in the market that still holds the $60,000 support, which will be key to BTC’s prospects.