(Kitco News) Despite the ongoing bear market in crypto, Bitcoin is still heading to $500,000 in the next five years, said Galaxy Digital CEO Mike Novogratz. While many analysts debate whether the recent shift in sentiment in the crypto space is a fleeting one, bullish voices are starting to get more prominent, with Novogratz forecasting … Read more
(Kitco News) The decision to hold Bitcoin could hurt Tesla’s upcoming second-quarter earnings, said Barclays. In light of Bitcoin’s drop to $19,000 at the end of the second quarter, Tesla could end up reporting an impairment of roughly $460 million, according to analyst Brian Johnson. “With Bitcoin ending the quarter at ~$19k (well below TSLA’s … Read more
(Kitco News) The production cost for Bitcoin dropped by $7,000 to $13,000, which could lead to lower prices, according to a report by JPMorgan Chase. It is estimated that Bitcoin’s cost of production fell from $20.00 at the beginning of June to $15,000 at the end of the month and then to $13,000 as of … Read more
screenshot: Reddit Reddit just announced and opened a “Collectible Avatar” storefront. In this hub you can buy artists’ renditions of the social site’s congenial alien mascot Snoo, except they’re all NFTs. Hold for applause or for a little vomit to come out of your mouth. Reddit has been shouting its crypto love for years, but … Read more
(Kitco News) Despite steadying around the $20,000 level, Bitcoin might not be done with its dramatic descent, according to one veteran trader. Famous trader and author with nearly 700k followers on Twitter, Peter Brandt, issued a warning on Bitcoin, indicating that the world’s largest cryptocurrency could have more to fall. “When it looks like a … Read more
(Kitco News) – GameFi, the ability for a video game’s stakeholders to partake within a game economy, will transform the gaming industry, said John Linden, CEO of Mythical Games. “Players, stakeholders, brands, and e-sports can now actually start using blockchain tech and things like NFTs, or eventually tokens, to be part of game economies, rather … Read more
(Kitco News) If Bitcoin were to become a global monetary standard, it would be an “absolute economic catastrophe,” said Ernst & Young’s global blockchain leader Paul Brody. The world’s largest cryptocurrency is by default considered a deflationary asset in the digital space. What this means in the crypto world is that its supply is finite … Read more
(Kitco News) Despite being known for its volatility, Bitcoin’s price action has been fairly muted as the world’s largest cryptocurrency is grasping at straws to hold the $20,000 level following June’s selloff. And if this support level fails, it could open the door to $14,000, according to Fairlead Strategies. The crypto market is still reeling … Read more
Image: Axie Infinity Axie Infinitythe play-to-earn, decidedly exploitative, crypto neopetshas reopened its proprietary Ronin blockchain bridge after unintentionally exposing its users to a $600 million hack in March. The hack was made possible by an exploit in the bridge, which let funds transfer between the Ethereum and Ronin blockchains, and was the beginning of Axie … Read more
(Kitco News) With the crypto market dramatically crashing in June, one major event has been relegated to the background. Yet, it’s the one to watch this year as it could send massive ripple effects throughout the crypto space and even end the crypto winter, according to analysts. The big event is the Ethereum Merge. But … Read more
