Bitcoin

“Crypto-Breakthrough” Bill Could Cause Bitcoin, Ethereum and BlockDAG Network Prices to Skyrocket “Very Soon”

Published

7 months ago

14 June, 2024

BlockDAG Network

London, United Kingdom, June 14, 2024 (GLOBE NEWSWIRE) — Bitcoin and other major cryptocurrencies, including Ethereum and XRP, rose in 2024 after reaching their lowest points in 2022. Bitcoin price has recovered to its previous high all-time high of around $70,000 per BTC and could potentially rise further to somewhere between $100,000 and $150,000 as traders and analysts are noticing a bullish price pattern. Meanwhile, Ethereum, BlockDAG Networkand other altcoins are bracing for a significant but positive impact from Wall Street.

Amid the political landscape, where both President Joe Biden and former President Donald Trump are taking action related to cryptocurrency, a potentially transformative bill has emerged. Passed quietly by a Senate committee, this bill could become the most crucial crypto policy in the US if it becomes law.

Senate Committee Approves Encryption Clause

The US Senate Select Committee on Intelligence recently approved its funding package, which includes a little-noticed encryption provision. This provision forces crypto companies to collect more information about their users or face sanctions aimed at preventing terrorist financing. According to Coindesk, this measure “would speed up and automate the process for sanctioning ‘foreign facilitators of digital asset transactions,’ including cryptocurrency exchanges linked to users who support terrorist groups.”

The Intelligence Authorization Act (IAA) passed unanimously with a vote of 17-0. However, the cryptographic section was not highlighted when Senator Mark Warner, the committee’s Democratic chairman, announced the vote. Warner emphasized that the bill increases the U.S. intelligence community’s ability to identify and combat technological threats from adversary nations and designates foreign ransomware organizations as hostile cyber actors.

Crypto Industry Response

Despite the importance of the bill, crypto industry experts believe the provision may not survive the budget process. Cody Carbone, policy director at Digital Chamber, told Coindesk that there would likely be pushback from the industry, potentially leading to its removal from the National Defense Authorization Act (NDAA). This potential removal could alleviate concerns and further increase confidence and investment in the crypto market.

Last month, the US House of Representatives passed the Financial Innovation and Technology for the 21st Century (Fit21) Act. This law divides responsibility for regulating cryptocurrencies between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and has received broad support from crypto companies and pro-crypto lobby groups. This clarity and regulatory support will likely attract more institutional investment, increasing the value of cryptocurrencies.

The story continues

Trump endorsement and industry growth

The Biden administration recently softened its stance on Bitcoin and crypto following Donald Trump’s pledge to support the crypto industry. Last week, Trump held a crypto-friendly fundraiser in Silicon Valley, organized by investors David Sacks and Chamath Palihapitiya, raising around $12 million. Trump declared his intention to be the “president of cryptography” and promised that the Biden-Gensler crackdown on cryptography would end quickly if he was re-elected.

Trump’s endorsement of cryptographic and digital assets could mean a significant increase in the value of the industry and the growth of individual projects as early as 2025. His support, combined with technological advancements and favorable regulatory changes, creates a positive outlook for the market.

BlockDAG Network: a revolutionary technology

In the evolving world of cryptocurrencies, BlockDAG Network It is an emerging revolutionary technology. Unlike traditional blockchain, which relies on a linear sequence of blocks, BlockDAG (Directed Acyclic Graph) allows multiple blockchains to coexist and interconnect. This structure significantly increases transaction throughput and scalability while reducing confirmation times.

The BlockDAG Network can handle a higher volume of transactions without compromising security or decentralization, addressing one of the most critical challenges faced by traditional blockchain networks. As cryptocurrencies gain more attention and political endorsement, technologies like the BlockDAG Network could play a crucial role in the industry and lead to substantial returns for new and existing venture capitalists.

Legislative developments, coupled with favorable regulatory changes and high-profile endorsements, have set the stage for a significant market recovery. investors should prepare for a potential surge “very soon” as the bill’s positive impact on the crypto ecosystem could trigger a substantial increase in the value of many digital assets, including Bitcoin, Ethereum, BlockDAG Networkand other important altcoins, making the industry more robust and attractive to more investors.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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