Category: cryptocurrency exchange

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Dogecoin Founder Says Bitcoin Needs Room to Recover Again

Dogecoin founder Bill Markus expressed a somber sentiment about the recent Bitcoin price drop after the cryptocurrency hit highs of $44,000 in early December.

Doge Founder’s Grim Stance on Bitcoin Price Swings

Around the first week of December, Bitcoin saw a surprising rise to over $44,000 from $38,000 sometime in late November. The cryptocurrency has been on a steady upward trend driven by several factors, including anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) final ruling on spot Bitcoin ETF filings in January.

Despite the positive increases experienced by the cryptocurrency, BTC recently saw its price fall from 2023 highs of over $44,000 to $40,000 following Senator Elizabeth Warren’s anti-crypto statements on Monday and a bill that aims to establish the strictest crypto regulations.

Due to the unexpected price drop, Markus made gloomy comments about BTC’s recent price swings, stating that the cryptocurrency was “in good spirits again.”

When asked by a member of the crypto community what actions to take amid the falling BTC price, Nakamoto humorously replied: “I guess just give it space. Maybe he will eventually leave the room.

At the time of writing, the price of Bitcoin is trading at $42,968, according to CoinMarketCap. The price correction above $42,000 can be attributed to a recent announcement by the US Federal Reserve to keep interest rates stable. Following the Federal Reserve’s decision, BTC saw a price increase of almost 5% and Ethereum also saw a slight price growth.

Grim Crypto Exchange BTC Price Prediction

Positive sentiment around the BTC price has steadily increased following the recent Fed rate announcement and excitement around the Bitcoin halving event scheduled for April 2025.

However, cryptocurrency exchange Changelly contradicted recent positive price predictions for Bitcoin. According to stock market forecasts, the BTC price is expected to see a slight drop of 0.98% before December 15.

Changelly’s forecast expressed a bullish signal of around 17% for the cryptocurrency. Adding to the uncertainty over BTC’s overall price potential, Bloomberg analyst James Seyffart warned against excessive expectations regarding the proposed massive inflows into BTC following the approval of BTC Spot ETFs.

On the other hand, many cryptocurrency investors have made bullish predictions about the Bitcoin bull run, and a popular member of the crypto community, Crypto Rover, predicted that Bitcoin would reach between $150,000 and $220,000 during the Bitcoin bull run.

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Bitcoin Bitcoin Investment cryptocurrency exchange Cryptocurrency news

Robinhood Launches Cryptocurrency Trading in EU, Aims for Global Accessibility

Financial services company Robinhood has announced the launch of cryptocurrency trading in the European Union. “Just like we did with the stock market, our goal is to make cryptocurrencies more accessible and affordable for everyone, regardless of where they live,” the company explained.

Robinhood Expands Cryptocurrency Trading Services

Financial services company Robinhood launched its cryptocurrency trading platform in the European Union on Thursday, offering investors the ability to buy and sell more than 25 cryptocurrencies. Ad details:

   Today we launched the Robinhood Crypto app for all eligible customers in the European Union (EU).

EU residents over the age of 18 with compatible iOS and Android devices can now access Robinhood Crypto, the company clarified. The announcement details further: “Support for additional tokens, crypto transfers, crypto staking, crypto learning rewards, and more is expected to launch in 2024.”

Johann Kerbrat, CEO of Robinhood Crypto, commented: “We believe that cryptocurrencies are the financial framework of tomorrow and that they play an important role in our mission to democratize finance for all… The EU has developed one of the most comprehensive policies in the world for cryptocurrencies. asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”

Robinhood explained that as a publicly traded American company, it is regularly reviewed by third-party auditors and Robinhood Crypto has taken a conservative approach to supporting digital assets.

The platform’s trading volumes in stocks, options and cryptocurrencies increased in October compared to the previous month, according to data published in November. Stock trading volume increased 15% to $50.8 billion, options contracts traded increased 11% to $96.6 million, and cryptocurrency trading volume soared 92% to $2 .3 billion.
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Bitcoin Crypto Mining cryptocurrency exchange Cryptocurrency news

Phoenix closes $380 million deal with WhatsMiner to mine green Bitcoin

Phoenix Group is acquiring hydrocooling mining equipment from WhatsMiner worth more than US$136 million, with an option to purchase an additional US$246 million.

UAE company Phoenix Group has revealed a new purchase of hardware equipment from WhatsMiner, with the aim of expanding its portfolio of hydraulic cooling rigs. According to a Dec. 7 announcement, the $380 million deal represents WhatsMiner’s largest order in two years.

Under the agreement, Phoenix received mining equipment valued at US$136 million, with an additional option available worth US$246 million. WhatsMiner’s line of hydrocooling equipment launched in 2022, with current prices ranging from $1,008 to $2,484, according to the company’s website.

WhatsMiner’s hydrocooling hardware uses a closed-loop water system, preserving the volume and quality of water within the pipes. According to the company, the system offers more efficient heat transfer, as water is a more effective heat conductor than air or oil. The benefits of this system include reduced operating costs and minimized environmental impact, the company claims.
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cryptocurrency exchange Cryptocurrency news Ripple Tether

XRP Price Prediction as Correction Trend Stops at $0.57

XRP Price Prediction: Bitcoin price’s continued struggle to break the $38,000 resistance has cast a shadow of uncertainty over the market. This domino effect is noticeable in the price of XRP, which has recently entered a phase of sideways fluctuation. This trend follows the buyer stabilizing at a support level of $0.57. Currently, XRP’s price trajectory is being shaped by a symmetrical triangle pattern, a development that offers insight into its near-term outlook.

Also read: SEC meeting raises hopes for resolution of Ripple-XRP case

Triangle pattern pins recovery at $0.7

   Under the influence of a symmetrical triangle pattern, XRP price may remain sideways for the next week.

   XRP price trading above the 50% Fibonacci retracement level reflects that the overall recovery trend is intact.

   XRP intraday trading volume is $865 million, indicating a 15% loss.

Over the past fortnight, the price of XRP has traded within a limited range bounded by the converging lines of this symmetrical triangle. Notably, the cryptocurrency rebounded from these trend lines twice, underscoring the significant influence this pattern has on market behavior.

With a modest intraday increase of 0.6%, XRP price has recently recovered from the lower boundary of this pattern, now hovering around the $0.606 mark. This bullish reversal is likely to lead to a 3% rally, only to find immediate resistance at the upper boundary of the triangle.

Although bullish resistance could prolong the sideways trend, the converging nature of the pattern would ultimately result in a breakout move. If recent corrections have sufficiently revived bullish momentum, a bullish violation of the triangle’s upper trendline would mark the continuation of an uptrend.

This scenario could increase the value of XRP by 12%, reaching the key threshold of $0.7.

Support trend line maintains long-term uptrend

Although the prevailing trend is bullish, a downward break of the triangle support line could amplify the selling pressure, which could trigger an extended correction phase. In that case, the price of XRP could fall to $0.57 and possibly even further to $0.53. However, a broader perspective reveals a long-term ascending trend line that has consistently provided dynamic support to XRP, presenting buyers with a favorable downside opportunity.

   Exponential Moving Average – XRP price fluctuation around the slope of the 200-day EMA reflects the feeling of indecision among traders.

   Moving Average Convergence and Divergence: A bullish crossover between the MACD and the signal line accentuates the growing buying pressure amid the current correction trend.
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Bitcoin Bitcoin Wallet cryptocurrency exchange Cryptocurrency news

eToro Bags License to Operate in the United Arab Emirates

Global trading and investment platform eToro has announced the receipt of its latest license from the United Arab Emirates.

eToro license marks an important milestone

eToro has received approval to operate under the Financial Services Permit (FSP) from the international financial center in the capital of the United Arab Emirates, the Abu Dhabi Financial Markets Authority (ADGM). The license was specifically issued by the ADGM Financial Services Regulatory Authority. Possession of this license gives the social investment platform the legal right to offer its services in the region.

Notably, this new license from eToro authorizes the platform to operate as a securities, derivatives and cryptoassets broker in the United Arab Emirates. The company recognizes the latest addition as a milestone in its journey toward global expansion.

The United Arab Emirates becomes a crypto paradise

eToro also plans to help UAE residents increase their wealth by providing them with an avenue to gain financial knowledge, especially when it comes to cryptocurrencies. On the other hand, ADGM is confident that eToro’s UAE license, which gives the company access to ADGM’s dynamic ecosystem and progressive regulations, will help drive the platform’s vision.

It is important to note that the crypto atmosphere in the UAE has become conducive for many crypto companies, especially those seeking solace outside the United States. Regions like Dubai and Abu Dhabi have become safe havens for crypto companies facing challenges with US authorities due to the clear regulatory framework available.

In May, the UAE Central Bank published new AML guidelines for financial institutions dealing with cryptocurrencies and NFTs. A few months later, Binance, a leading digital asset services provider, became the first cryptocurrency exchange to receive the Minimum Operating Viable Product license in Dubai, proof that the region’s regulatory push is working.
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