Bitcoin, Ethereum Technical Analysis: BTC Jumps to 6-Month High Above $24,000

Feb 2, 2023

Bitcoin surged above $24,000 on Feb. 02, as markets continued to react to the latest U.S. Federal Reserve policy decision. On Wednesday, the central bank moved to increase rates by 25 basis points, while signaling that further hikes could be on the cards. Ethereum also rallied, with prices nearing $1,700. Bitcoin Bitcoin (BTC) rose to a six-month high on Thursday, with prices climbing above $24,000 for the first time since August. The move came as the Federal Reserve opted to increase int ...read more

Nigerian Crypto Users and Enthusiasts Dismiss 100% BTC Premium Claims

Feb 2, 2023

Nigerian blockchain and crypto enthusiasts have said recent reports suggesting that local residents are paying a premium of almost 100% on top of the prevailing price of bitcoin “are totally false.” They argue that such reports are based on a claim that is being propagated by persons who do not fully grasp the dynamics in the country and should therefore be ignored. Supposed 100% BTC Premium Generates Global Interest Some Nigerian crypto and blockchain users and enthusiasts have said r ...read more

Indian Government Introduces New Crypto Tax Penalties

Feb 2, 2023

The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax Relief in India Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in parliament Wednesday, one day after she presented this y ...read more

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Feb 2, 2023

An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser to the Chinese central bank, the People’s Bank of China (PBOC), has called on the Chinese government to reevaluate its c ...read more

Bitcoin Monthly Signals Stack Suggesting Bulls Are Ready To Stampede

Feb 2, 2023

Bitcoin price closed the January monthly candle with the largest climb since the 2021 bull market ended. Considering the macro conditions and risk of recession, the market remains skeptical of further upside. However, the monthly candle structure also closed with three extremely bullish Japanese candlestick patterns, which could suggest that a bullish stampede is on the way. Why Bitcoin Bulls Could Be Ready To Stampede Bitcoin might be an asset unlike any other, but it is measured using the same ...read more

London Crowned World’s Leading Cryptocurrency Hub, According to Study

Feb 2, 2023

According to research from Recap, a cryptocurrency tax software company, London has become the world’s leading hub for cryptocurrencies. The researchers analyzed eight indicators, including the number of cryptocurrency businesses and the quantity of cryptocurrency ATMs in each country. Key Findings of Recap’s Study on Global Cryptocurrency Hubs Crypto tax firm Recap released a research report on Jan. 25, 2023, highlighting the top global cryptocurrency hubs, with London named the “mo ...read more

Federal Reserve Raises Benchmark Interest Rate by 0.25%, Disinflationary Process ‘Early,’ Says Powell 

Feb 2, 2023

The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines Expectations for Future Rate Hikes The central bank of the United States raised the federal funds rate on Wednesday, increasing it by 0. ...read more

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

Feb 2, 2023

The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed to Innovation The executive power in London has announced plans to regulate a wide range of crypto-r ...read more

Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High 

Feb 1, 2023

On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s exchange rate. Aptos Hits $20 Ceiling, Slides 20% Lower From All-Time High Aptos, a layer one (L1) blockchain created by two developers from the former Diem cryptocurrency project at Meta, saw signific ...read more

UK Moves to Regulate Crypto for Better Consumer Protection

Feb 1, 2023

Great Britain is preparing the ground for cryptocurrency regulation in the country in the future, the UK's government announced on Wednesday. Public consultation has been launched as the first step to prepare a draft law on regulating digital assets.UK Starts Crypto Regulation WorksAccording to the official press release published on the government website, the UK wants to protect its consumers better and allow the crypto industry to grow from within the regulated ecosystem. The new crypto ...read more

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