Tag Archive : Bitcoin

Bitcoin could rally towards $28k as Shiba Memu’s presale approaches $3.5m

Key takeaways

  • Bitcoin is trading above the $27k level once again and could reach the $28k region soon.

  • Shiba Memu’s presale is now closing in on the $3.5 million mark.

The cryptocurrency market is having a positive end to the week, with prices of most coins and tokens in the green zone. Bitcoin could be heading towards the $28k level soon as market sentiment improves.

Furthermore, Shiba Memu’s presale is now closing in on the $3.5 million milestone as more investors troop into the project.

Bitcoin could surge towards the $28k level soon

The cryptocurrency market is ending the week in a positive manner, with the prices of most coins and tokens currently up by more than 2%. Bitcoin has added more than 2% to its value in the last 24 hours. At press time, the price of Bitcoin stands at $27,094.

The positive performance comes as oil prices and US Treasury yields recorded a dip in prices, resulting in a weaker US Dollar. If the trend should continue, Bitcoin could see its price rally higher and reach the next major resistance level above $28k in the coming days. 

What is Shiba Memu?

Shiba Memu has been gaining interest from investors over the past few months thanks to its unique proposition. This Web3 project seeks to combine the powers of blockchain technology and artificial intelligence to make it easier for individuals and entities to carry out market campaigns.

In their whitepaper, the team explained that Shiba Memu can handle a wide range of marketing activities, including content creation, marketing, social media advertisement, and creative advertisement. 

Since Ahiba Memu will be AI-powered, the software can work 24/7, finding the best creative adverts, consuming them and generating superior content marketing. 

By launching as a meme token, Shiba Memu is riding the popularity wave of meme coin projects in recent years. This is strengthened by the fact that within two years, meme coins saw their market caps grow from practically $0 to $20 billion in 2022. 

Shiba Memu is differentiating itself from other meme coins by serving as more than just a speculation tool. Shiba Memu is launching with real-world use cases and would allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. 

The Shiba Memu project will be available to users on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale closes in on the $3.5m milestone

The broader crypto market is currently bullish, and Shiba Memu is not left out as its presale looks set to hit a new milestone. The presale has been going on for three months now, and the team has raised more than $3.4 million. 

The funds generated via the presale would be used to develop some of Shiba Memu’s products and services. The Shiba Memu AI technology will be the primary product of this project. 

In their whitepaper, the team said the platform would come with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

It is hard to predict Shiba Memu’s price in the medium to long term since the project is still in its presale stage. At the moment, 1 SHMU = 0.030475 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.030700 USDT per token in a few hours. 

At the beginning of the presale, SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu today?

Shiba Memu could become one of the leading meme token projects thanks to the utility it intends to offer users. By combining AI and blockchain technologies, Shiba Memu could gain massive adoption in the marketing world. 

The project is still in its early stages, making its token a discount for investors. With the right level of adoption, SHMU’s price could rally over the next few months and years.

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Here’s what the U.S. government shutdown may mean for Bitcoin

  • James Butterfill expects Bitcoin to rally if the U.S. government shuts down.
  • BTC has a history of performing quite well in times of uncertainty.
  • The world’s largest cryptocurrency is already up close to 4.0% today.

Bitcoin will likely rally if the U.S. government does indeed shut down on October 1st, says James Butterfill – the Head of Research at CoinShares.

Why may BTC rally on shutdown?

The world’s largest cryptocurrency by market cap is already up close to 4.0% on Thursday as the U.S. government started sending out notifications to federal employees that a shutdown may be imminent.

And that rally may extend when the shutdown actually begins, as per CoinShares’ Butterfill.  Because the investors could read the funding lapse as a sign of instability and turn to Bitcoin for refuge.

This scenario bears resemblance to the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices.

Bitcoin continues to find a strong support at the $25,000 level.

U.S. banks still have downside risks

Note that Bitcoin saw strength when the likes of Silicon Valley and Signature banks collapsed earlier this year. That speaks a lot about its ability to outperform in times of uncertainty.

And the U.S. financial institutions may not entirely be out of the woods just yet. Martin Gruenberg – Chair of the U.S. Federal Deposit Insurance Corporation (FDIC) recently warned that inflation and higher rates continue to be a significant downside risk for the banking space.

Another near-term tailwind for BTC could be the approval of a Spot Bitcoin ETF – for which the U.S. lawmakers pushed SEC Chair Gary Gensler just a day earlier (find out more).

On Thursday, Rob Ginsberg of Wolfe Research also said that Bitcoin was worth investing at its current price.

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Bitcoin holds steady as DXY advance hurts stocks

  • Bitcoin rose to $26,820 on Wednesday, trading in the opposite direction to stocks as the Dollar Index hit a 10-month high.
  • An easing for the DXY could see Bitcoin price strengthen above the $26k base.

Bitcoin (BTC) defied a surge for the Dollar Index (DXY) on Wednesday, spiking to above $26,820 in early US trading hours. The gains for the benchmark cryptocurrency buoyed the altcoin market, with several tokens seeing decent moves to push the total market cap up by about 1.5%.

But as the DXY, which measures the greenback’s strength against a basket of other major currencies, hit highs of 106.83 for its highest level since November 2022, stocks moved lower. Alongside the dollar’s strength has been rising yields, with the benchmark 10-year US Treasury yield soaring to a 16-year high of 4.64%. The two-year US yield rose to 5.15%

It’s a scenario that sees the stock market compound weakness seen over the past week, including Tuesday’s Dow slump that was the biggest in a single day since March.

US dollar index (DXY) chart from TradingView

BTC price outlook

The US dollar index’s upside has historically signaled a bearish outlook for stocks and other risk assets, including crypto. Market intelligence platform says the negative correlation between the dollar index and Bitcoin and S&P 500 has particularly been evident since 2021.

That should be the perspective, though Bitcoin is showing a resilience above $26k. According to crypto investor Scott Melker, Bitcoin’s performance shows it “has its own life.”

Meanwhile, Santiment analysts say BTC could see a breakout if the DXY begins to cool off.

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U.S. lawmakers want SEC to ‘immediately’ approve applications for a Spot Bitcoin ETF

  • Four House Reps. wrote a letter to SEC Chair Gary Gensler on Wednesday.
  • They dubbed Spot Bitcoin ETF “indistinguishable” from Crypto Futures ETF.
  • Bitcoin is still trading around the $26,000 level at writing on Wednesday.

All eyes are on Bitcoin today after the U.S. lawmakers urged the Securities & Exchange Commission to “immediately” approve applications it has received for a Spot Bitcoin ETF.

House Reps. wrote a letter to Gary Gensler today

On Wednesday, four members of the House Financial Services Committee wrote a letter to Gary Gensler in which they argued that a Spot Bitcoin ETF is not particularly different from a Crypto Futures ETF that the regulator has already approved.

And so, they urged Chair of the SEC in their letter to allow the likes of BlackRock, Fidelity and several others to list a Spot Bitcoin ETF.

SEC’s current posture is untenable moving forward … there is no reason to continue to deny such applications under inconsistent and discriminatory standards.

Chair Gary Gensler is scheduled to testify before the U.S. Congress today.

Grayscale recently secured a victory against the SEC

Last month, the U.S Court of Appeals for the DC Circuit ruled that the Securities & Exchange Commission did not have an adequate reason to not let Grayscale convert its flagship bitcoin trust into an exchange-traded fund (find out more).

That ruling, as per the lawmakers, should be sufficient for Chair Gensler to get onboard with a Spot Bitcoin ETF. Their letter also read:

A regulated spot bitcoin ETP would provide increased protection for investors by making access to bitcoin safer and more transparent.

Members that wrote the letter on Wednesday include Reps. Mike Flood, Wiley Nickel, Tom Emmer, and Ritchie Torres. Bitcoin is still trading around the $26,000 level at writing.

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MicroStrategy’s latest BTC purchase sets Bitcoin price in motion

  • Bitcoin is defending the $26k after the recent MicroStrategy’s latest BTC purchase.
  • Concerns over the US dollar’s impact on BTC may be overstated by investors.
  • Coinbase holds about 5% of the total bitcoin in circulation.

MicroStrategy’s recent acquisition of Bitcoin worth nearly $150 million has made waves in the cryptocurrency market, causing a notable shift in Bitcoin’s price dynamics.

The move was a demonstration of MicroStrategy, a prominent business intelligence firm led by CEO Michael Saylor, of its strong commitment to Bitcoin. The recent Bitcoin purchase sent ripples throughout the cryptocurrency world.

A boost to Bitcoin price

Before MircoStrategy’s BTC acquisition announcement, Bitcoin had briefly dipped below the $26,000 level, around which it has been hovering for a week. However, as soon as news of the purchase became public, Bitcoin price saw a significant upward movement, gaining several hundred dollars in value and hitting a daily high of $26,421.51.

In addition to MicroStrategy’s purchase, China’s Shanghai People’s Court also recently made a significant announcement recognizing Bitcoin as a distinctive digital currency, despite the country’s established ban on cryptocurrencies. This recognition has garnered attention, notably due to Justin Sun, the founder of Tron, drawing attention to the Shanghai No. 2 Intermediate People’s Court’s recent publication, which outlines key characteristics of Bitcoin.

The Shanghai court clearly distinguished Bitcoin from virtual counterparts like Q coins, emphasizing its unique attributes. These include Bitcoin’s scarcity, widespread global acceptance, and intrinsic monetary qualities. This acknowledgement represents a notable departure from China’s traditional classification of cryptocurrencies primarily as speculative investments.

The recognition by the Shanghai People’s Court marks a shift in how Bitcoin is officially perceived within the Chinese legal system. While the ban on cryptocurrencies remains in place in China, this recognition of Bitcoin’s distinct nature as a digital currency signifies a nuanced perspective on its role and significance within the broader financial landscape. It highlights the evolving discourse surrounding cryptocurrencies in China and their potential utility beyond speculation.

Bitcoin’s resilience

Despite the volatility in recent weeks, Bitcoin has shown resilience. Last week, it reached a 20-day high at $27,500, only to experience a drop to $26,400 by the end of the business week, partly influenced by the US Federal Reserve’s latest meeting.

The weekend remained relatively stable, with Bitcoin maintaining a level of around $26,600. However, Monday started on a bearish note, leading to a temporary dip below $26,000.

MicroStrategy’s announcement acted as a catalyst, helping Bitcoin recover from this low point. While MicroStrategy’s continuous accumulation of Bitcoin strengthens the company’s position as a major institutional investor in the cryptocurrency, it also underscores the growing acceptance of Bitcoin as a valuable digital asset.

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MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m

Key takeaways

  • Bitcoin continues to trade below $26,500 despite MicroStrategy’s latest BTC purchase.

  • Chancer’s stage two presale has now surpassed the $2.2 million mark.

The cryptocurrency market began the week in a bearish mode, with prices of most coins and tokens in the red zone over the last few days. However, that hasn’t halted Chancer’s presale as it continues to hit new milestones.

MicroStrategy purchases 5,445 bitcoins

Michael Saylor’s MicroStrategy has continued its foray into the cryptocurrency market by acquiring more bitcoins. The company announced the purchase of 5,445 bitcoins on Monday for $147.3 million at the average price of $27,053 per coin. MicroStrategy now holds 158,245 bitcoins acquired for a total of $4.68 billion.

Despite MicroStrategy’s acquisition of over 5,000 bitcoins, BTC’s price continues to underperform. At press time, the price of Bitcoin stands at $26,273, up by less than 1% in the last 24 hours. Bitcoin has lost more than 2% of its value over the last seven days. 

What does this mean for Chancer?

MicroStrategy purchasing more bitcoins could serve as an indicator that more institutional investors have faith in the crypto market despite the ongoing bearish trend. Investors could be looking to purchase more cryptocurrencies and invest in exciting projects ahead of the next bullish cycle. 

Chancer could be one of those projects thanks to its exciting prospect. The project is currently in its second presale stage and has now raised more than $2.2 million. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live-stream betting events. The project seeks to decentralise the online betting industry by using blockchain technology. 

When using Chancer, there would be no restriction to betting opportunities for users. This means that users can bet on numerous events beyond the available sports and casino bets. 

The Chancer presale is in its second stage and has raised over $2.2 million of the $2.5 million required. The funds generated from the multiple presale rounds would be used to build Chancer’s decentralised P2P betting platform. 

In their whitepaper, Chancer said its users would have access to numerous features such as betting markets in real-time and based on user interests, social media connections, and expertise. 

Users will also no longer deal with the challenges associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

With Chancer, users can bet on various activities. This means that users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.013 in the next presale stage

Chancer’s second presale stage is close to completion, and the team will move to the next phase. In this current presale stage, the CHANCER token is going for $0.012 USDT

The token price will increase to $0.013 in the third presale round. There would be 12 presale events, with an accumulated target of $15 million. 

According to the team, the CHANCER token will power numerous activities within the ecosystem. CHANCER token holders would be allowed to create and invest in markets within the ecosystem.

In addition to that, token holders can also create, participate in, and profit from their very own predictive markets. 

Interested investors can purchase the CHANCER token using numerous wallets, including Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The crypto market has been bearish in recent days, granting investors more opportunities to invest in quality projects. Investors looking to get into early-stage projects could consider Chancer, thanks to its unique niche. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the coming years. The adoption of the Chancer platform could see its CHANCER token rally higher in the medium to long term. 

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MicroStrategy acquires an additional 5,445 bitcoins

  • MicroStrategy says it acquired the additional 5,445 bitcoins for $147.3 million at the average price of $27,053 per coin.
  • The company now holds 158,245 bitcoins acquired for a total of $4.68 billion.

MicroStrategy Inc. (NASDAQ: MSTR), a leading finance software company, has added to its Bitcoin (BTC) haul again.

In crypto news shared on Monday by Michael Saylor, the company’s founder and chairman, MicroStrategy recently acquired an additional 5,445 bitcoins to bring its total BTC holdings to over 158k.

MicroStrategy now holds 158,245 bitcoins

According to a filing with the US Securities and Exchanges Commission (SEC), MicroStrategy purchased the BTC for $147.3 million, acquiring each coin at the average price of $27,053. Per the document, the company now holds 158,245 BTC, which was cumulatively acquired for $4.68 billion. The average price of the entire acquisition is $29,582 per bitcoin.

Saylor shared the news on his official X account on Monday.

Bitcoin price outlook after MicroStrategy news

BTC has not moved much over the past few days, with price ranging around the $26k level amid a lack of volatility across the market. On Monday, the benchmark cryptocurrency’s value was hovering around $26,130 on major crypto exchanges, with CoinGecko data showing a -1.8% return in the past 24 hours and 4.6% in the past seven days (as of 09:55 ET).

For MicroStrategy, the declines below $27k (which was the average price for the latest purchase) means the 5,445 coins have seen a depreciation in value at current prices.

As to what happens next for BTC, popular crypto analysts say there’s possibility fresh negativity could send the flagship crypto to support below $25k. A notable anchor below this level would be the psychological $20k zone.

Crypto analyst and trader Joe Burnett says a bullish flip for BTC will take it to a new all-time high. With supply “incredibly dry”, all Bitcoin needs is a “spark of demand.”

Among other catalysts, analysts are looking at the upcoming bitcoin halving and the potential for a first spot Bitcoin ETF approval by the SEC. Asset investment giant BlackRock is one of the companies looking to offer access to a spot ETF.

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Bitcoin Drops To $26k: Should Investors Buy More Shiba Memu Tokens


  • Bitcoin has dropped to the sub-$26k level as bears remain in control.

  • Shiba Memu’s presale has now surpassed the $3 million mark as more investors troop in.

The cryptocurrency market has been bearish over the weekend. The prices of Bitcoin and other cryptocurrencies are in the red zone as sellers continue to be in firm control of the market.

However, Shiba Memu’s presale continues to break records and has now surpassed the $3.2 million mark. 

Bitcoin drops to the $26k level

Bitcoin, the world’s leading cryptocurrency by market cap, has been underperforming over the last few hours. It has lost more than 1% of its value today, with the bears in control of the market. At press time, the price of Bitcoin stands at $26,161 per coin. 

The other leading cryptocurrencies, including ETH, SOL, SHIB, and XRP, are all trading in the red zone. The decline in prices could serve as an opportunity for investors to invest in more projects. 

The bearish sentiment hasn’t affected Shiba Memu’s presale as it hit a new milestone. This presale round has now generated more than $3 million. 

What is Shiba Memu?

Shiba Memu is a meme token project that wants to ease the way people and organisations handle marketing campaigns. The project is leveraging the powers of blockchain and AI technologies to offer real-world value to users. 

While the project is still in its presale stage, investors have already pledged millions of dollars to the development of its products. At the moment, the Shiba Memu stage two presale has raised more than $3 million. 

According to their whitepaper, Shiba Memu will use blockchain and AI to develop an unstoppable, entirely self-sufficient marketing powerhouse. The platform can handle the work of 100 marketing agencies with the help of AI. 

Users who deploy Shiba Memu will have the platform working 24/7 for them to identify ideal creative scenarios and develop excellent marketing campaigns. 

Shiba Memu is launching as a meme project thanks to the rise in the popularity of meme tokens in recent years. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $20 billion in 2022. 

Shiba Memu will be a step above most meme projects as it will offer users real-world use cases. Shiba Memu will be able to develop its own marketing strategies, write its own PR, and promote itself in relevant forums and various social media platforms.   At the moment, Shiba Memu operates on BNBChain and Ethereum.

Shiba Memu’s presale surpasses $3 million

The crypto market has been bearish over the weekend, but that hasn’t stopped investors from seeking out quality projects. Shiba Memu’s stage two presale recently hit an important milestone. The project has raised $3.2 million in this current presale round and could reach its target very soon. 

Funds generated from the numerous presale rounds would be used to develop the Shiba Memu products. Most of the funds would be allocated to the development of the Shiba Memu AI technology. 

Click here to find out more about Shiba Memu’s presale event. 

Should you invest in Shiba Memu today?

The cryptocurrency market began the week in a bearish mode, and this has created investment opportunities for investors. As investors continue to search for excellent projects, Shiba Memu could be an excellent choice. 

Shiba Memu will be combining the powers of AI and blockchain technologies to develop an excellent marketing platform. The platform will look to ease marketing strategies for companies and organisations. 

Shiba Memu’s SHMU token could be a leading meme token with the right level of adoption. 

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Coinbase is largest Bitcoin (BTC) holder in the world: Arkham

  • Arkham announced it identified nearly $25 billion in Bitcoin in crypto exchange Coinbase’s portfolio.
  • The BTC holdings are approximately 948,000, closer to the 1 million BTC of Satoshi Nakamoto.
  • Coinbase is thus the world’s largest known Bitcoin entity, Arkham analysts said on X.

Blockchain intelligence firm Arkham has reported that Coinbase holds Bitcoin (BTC) worth about $25 billion, making the cryptocurrency exchange the world’s largest entity holding the flagship digital asset.

Arkham says Coinbase holds nearly 1 million BTC

Arkham’s announcement on Friday was that it had identified nearly 1 million BTC on-chain for Coinbase reserves, with this making the US-based crypto behemoth “the largest Bitcoin entity in the world on Arkham.” The holdings account for about 5% of all bitcoin in existence and means the exchange’s BTC is nearly as much as that attributed to Bitcoin creator Satoshi Nakamoto.

Coinbase is also reportedly home to 36 million deposit and holding addresses for BTC, one of which is a cold wallet with 10,000 BTC. There could be millions of other untagged assets, the intelligence platform noted.

Arkham has identified and tagged over 36 Million BTC deposit and holding addresses used by Coinbase, with their largest cold wallet containing ~10K BTC. Based on their most recent financials, Coinbase likely has thousands more BTC not yet labeled,” Arkham posted on X.

Other than Bitcoin, the Coinbase portfolio also has 1.68 million Ethereum (ETH), 68.6 million Chainlink (LINK), nearly 223 million USD Coin (USDC) and 921,000 BNB (BNB). These assets contribute to Coinbase’s crypto portfolio of over $29 billion, according to data on Arkham as of September 22.

Arkham’s report comes as Coinbase expanded its services further with a regulatory approval in Spain. As CoinJournal highlighted earlier today, the company has secured registration with the Bank of Spain to offer services as a crypto exchange and crypto custody wallet provider.

Official entry into Spain adds to Coinbase’s regulatory milestones in Italy, Singapore, the Netherlands, Brazil and Canada. The exchange is also battling for regulatory clarity in the US.

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World Digital Mining Summit: Bitcoin miners embrace efficiency and renewable energy

  • Bitcoin mining is at the heart of the digital gold rush and it is a critical process that underpins the entire cryptocurrency ecosystem.
  • Bitcoin miners validate transactions, secure the network, and, in the process, earn newly minted Bitcoin.
  • The World Digital Mining Summit (WDMS) stands as a beacon of innovation and collaboration within this dynamic space.

The recent World Digital Mining Summit (WDMS) witnessed a groundbreaking moment for the Bitcoin mining industry as Bitmain, a prominent player, unveiled its highly anticipated Antminer S21 and S21 Hydro ASIC miners. These state-of-the-art mining machines have set new industry standards for both performance and energy efficiency.

The Antminer S21 boasts an impressive hashrate of 200 TH/s and an extraordinary efficiency rating of 17.5 J/T (joules per terahash), while the S21 Hydro delivers a remarkable hashrate of 335 TH/s with an efficiency of 16 J/T. These statistics mark a significant departure from the historical norm where most Bitcoin ASICs operated above the 20 J/T threshold.

What makes these ASIC miners truly revolutionary is their unwavering focus on energy efficiency. In an environment where electricity costs continue to rise, the Antminer S21 series presents a glimpse into the future of Bitcoin mining. It’s a future where miners can optimize their operations for maximum output while consuming minimal energy, reflecting the industry’s commitment to sustainability and cost-effectiveness.

Efficiency advancements and sustainability:

One of the key trends that emerged at WDMS was the integration of renewable energy sources into Bitcoin mining operations. This trend is driven by two crucial factors: the relentless increase in electricity costs and the impending Bitcoin supply halving scheduled for April 2024.

Miners are acutely aware of the need to reduce operational expenses to maintain profitability. Rising electricity costs have prompted them to seek sustainable energy solutions. By incorporating renewable energy sources like solar and hydroelectric power, miners aim to mitigate the impact of escalating energy bills and ensure the long-term viability of their operations.

Renewable energy integration isn’t just about immediate cost savings; it aligns with a broader commitment to environmental responsibility. In a world increasingly focused on sustainability, miners view renewable energy as a strategic imperative for ensuring profitability and industry longevity.

Upcoming Bitcoin Halving pose some challenges

The looming Bitcoin supply halving represents a formidable challenge for miners, as it halves their block reward distribution. To address this challenge, miners have two pivotal choices: increasing their reliance on sustainable energy sources or making efficiency improvements to their ASIC fleets.

These strategic decisions will determine their ability to adapt to the evolving mining landscape, where efficiency and sustainability are key.

In conclusion, the WDMS showcased an industry in transition, with Bitcoin miners embracing efficiency-focused innovations and renewable energy integration. This commitment to sustainability and environmental responsibility reflects the industry’s adaptability and resilience. As the Bitcoin mining ecosystem evolves, it does so with a clear focus on efficiency, profitability, and a greener future.

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