Mediaboss Marketing

Standard Chartered has raised its bitcoin price predictions after seeing increased miner profitability.

The bank now projects the crypto asset to reach a price $50,000 by the end of 2023 a 65% increase from current prices and then hit $120,000 by the end of 2024, Bloomberg reportedMonday (July 10).

Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered, said, per the report, that increased miner profitability will lead to reduced net bitcoin supply as miners can sell less while maintaining cash inflows.

Increased miner profitability per BTC mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher, Kendrick said, according to the report.

Although bitcoin hit all-time highs of nearly $69,000 in 2021, Standard Chartered sees more potential for growth, according to the report.

The bank has raised its forecast for bitcoin from its April expectation that prices would reach $100,000 by the end of next year, the report said.

Because bitcoin miners can cover their costs with the sale of fewer bitcoins when prices are high, they can hold on to more bitcoin in anticipation of selling them later at higher prices, reducing the availability.

This forecast comes at a turbulent time in the cryptocurrency space.

On June 5, it was reported thatcryptocurrency pricesfell after the Securities and Exchange Commission (SEC) filed 13 charges against crypto exchange Binance and its founder Changpeng Zhao, alleging the exchange committed a variety of securities law violations.

Bitcoin was among those whose price fell at the time time, as it was trading at $25,628 on the afternoon of June 5 after having hit a high of $27,093 earlier that day.

About a week earlier, on May 30, blockchain analytics providerNansenbecame the latest company in the beleagueredcrypto sectorto cut jobs as it reduced its staff by 30%.

The company had been rapidly scaling its staff for years but, as Nansen CEOAlex Svanevik said at the time, the past year has been brutal for the crypto sector.

Link:

Standard Charter Expects Bitcoin to Reach $120,000 by End of 2024 - PYMNTS.com

Its time for banks and asset managers to start pushing Bitcoin to clean up its pollution, Greenpeace argues in a new report. The environmental organization wants to see Bitcoin change its code to slash energy consumption and greenhouse gas emissions. Thats a big ask, but Greenpeace argues that financial institutions could have an outsize influence on the Bitcoin network through its business dealings.

The report focused on nine major financial institutions that are providing the glue that keeps the Bitcoin ecosystem together, says Joshua Archer, who leads Greenpeace USAs Bitcoin campaign. Financial institutions have an important responsibility, but theyre currently ignoring the severity of the problem.

The report focused on nine major financial institutions that are providing the glue that keeps the Bitcoin ecosystem together

Those financial institutions including BlackRock, Vanguard, JPMorgan Chase, and others controlled shares in Bitcoin mining companies that were valued at more than $1.35 billion in April 2023, according to Greenpeaces report. Many of the financial companies are also expanding their services to make it easier for customers to deal in Bitcoin. That could increase the cryptocurrencys already hefty environmental footprint, the report says. Crypto companies are facing a storm of scrutiny from regulators after FTXs spectacular collapse. Democrats are also pressing companies on Bitcoins impact on power grids and climate goals. Despite those headwinds, Bitcoins emissions can still rise every time its price rallies.

Bitcoin is by far the most polluting cryptocurrency. Thats not just because its the biggest by market cap but because of the way the blockchain validates transactions. Bitcoin miners run data centers full of specialized machines that solve complex puzzles around the clock. They earn new Bitcoin this way, but all that puzzle-solving comes with energy and environmental costs. The cryptocurrency uses about as much electricity annually as the country of Sweden.

Theres been resistance to do the same thing with Bitcoin, though. Miners have already invested in their equipment and would be hard-pressed to throw it all away, for one. And to make the switch, every node on the network would need to be on board. Thats a tough sell for folks who might have bought into Bitcoin in the first place because its supposed to be decentralized theoretically free from any single institution telling them what to do.

Greenpeace makes the case that financial institutions actually do hold sway. BlackRock is a leader in the pack when it comes to asset managers support for Bitcoin, according to the Greenpeace report. Its shareholdings in 18 Bitcoin mining companies were valued at more than $595 million in April. The report also draw[s] a direct line from BlackRocks Bitcoin mining investments to the revival of fossil fuel infrastructure. For example, BlackRock is the biggest institutional shareholder in Greenidge Generation Holdings, a company that uses a previously shuttered gas power plant almost exclusively to mine Bitcoin.

Among banks, JPMorgan Chase & Co. was the leading Bitcoin supporter, according to the Greenpeace report. It controlled shares in 17 Bitcoin mining companies valued at more than $26 million in April and offers different products and services to help customers invest in Bitcoin. That contradicts the banks goal of helping the world reaching net zero greenhouse gas emissions by 2050, the Greenpeace report says. And Chase hasnt been transparent about whether it includes emissions from Bitcoin in its carbon accounting a problem for the financial sector overall, Archer says.

JPMorgan Chase didnt immediately respond to a request for comment from The Verge, and BlackRock declined to give comments on the record.

Read the rest here:

Can banks push Bitcoin to clean up its act? - The Verge

ROAD TOWN, British Virgin Islands, July 11, 2023 /PRNewswire/ -- Pulsar, a leading proprietary and algorithmic trading firm specializing in cryptocurrency trading and market making, is delighted to announce its partnership withPyth Network as a publisher for low latency price data. As a crypto-native market maker since 2014, Pulsar understands the importance of price discovery through advanced innovation and technology. By integrating Pulsar's real-time price data with Pyth's platform, Pulsar will provide the web3 community with critical information to navigate and make proper investment decisions.

Pyth Network has solidified its position as the industry-leading oracle for low-latency financial data, boasting a vast array of more than 275 price feeds available at sub-second frequencies across over 25 blockchain ecosystems. The network comprises top-tier market makers, trading firms, and exchanges globally, who actively contribute price data for various asset classes, including FX, US equities, metals, and cryptocurrencies. The integration of Pulsar as a publisher on Pyth Network further reinforces Pyth's dedication to providing accurate and timely financial data to blockchain ecosystems.

"Data transparency is crucial to an efficient market. We are excited to partner with Pyth to empower the community with real-time cryptocurrency price data and unleash the potential of the digital asset industry." said Jacky Chung, CEO of Pulsar.

Abhimanyu Bansal, Contributor for the Pyth Data Association said, "As a key player in the blockchain data space, Pulsar's integration with the Pyth network strengthens our collective mission of democratizing access to high-quality data. By combining our expertise and resources, we are poised to unlock unprecedented opportunities for blockchain developers, enterprises, and users alike."

About PulsarPulsar is a leading proprietary and algorithmic trading firm specializing in cryptocurrency trading and market making. Founded in 2014 as an early adopter, it has established an extensive connection with 60+ CeFi and DeFi crypto exchanges globally, and supports 600+ trading pairs across spot, futures and options.

Combining cutting-edge low latency technologies, in-depth crypto market intelligence and deep learning capabilities, Pulsar is dedicated to providing liquidity and increasing efficiency in global markets. To accelerate the growth of the digital asset and blockchain industry, it also provides venture capital and market insights to early stage infrastructure companies or projects.

For more information or to explore business partnership opportunities, please visit pulsar.com or contact [emailprotected]

LinkedIn: PulsarTwitter: @PulsarTrading

About Pyth NetworkPyth Networkis a first-party financial oracle network designed to publish continuous real-world data on-chain in a tamper-resistant, decentralized, and self-sustainable environment. The network incentivizes market participants exchanges, market makers, and financial services providers to share directly on-chain the price data collected as part of their existing operations. The network then aggregates this first-party price data on-chain and makes it available to either on- or off-chain applications. More details are available here: the website, whitepaper anddocs.

SOURCE Pulsar

Originally posted here:

Pulsar and Pyth Network Collaborate to Enhance Cryptocurrency ... - PR Newswire

Disclaimer: The text below is an advertorial article that is not part ofCryptonews.comeditorial content.

Nestled within the urban heart of Astoria, New York, a tide of innovation is on the rise. Conceived in the visionary mind of the well-established entrepreneur Mario Tapias, a new crypto project emerges. Forget everything you have heard about crypto as this game-changing concoction promises to quench not only your physical thirst but also your digital desires.

This isn't a tale of hunch-backed programmers tirelessly mining for elusive digital coins. Instead, Tapias is harnessing his expertise in the beverage industry to mix a perfect blend that infuses the refreshing essence of water with the decentralized promises of blockchain technology.

Say hello to CryptoWater, your daily hydrator with a blockchain backbone.

"The concept is as clear as the water we sell," Tapias explains. "You buy a bottle, and you earn Drop Coins.

But don't be fooled by the simplicity of this process. At its core, CryptoWater carries a ripple effect. It is more than just a humble bottle of water that serves as a conduit for Drop Coin, a token you can earn just by quenching your thirst.

Unveiling another layer to his mission, Tapias shares a sustainability-focused vision that seeks to create a wave of positive impact within the community and the environment. CryptoWater aims to inspire circular consumption, turning the recycling wheel into a rewarding process for every consumer.

"In states with bottle bills," Tapias enlightens, "People are incentivized to recycle. Every beer, soft drink, and other beverage container comes with a minimum refundable deposit that encourages a high rate of recycling or reuse. DropCoin is Marios way of adding an extra splash of incentive by rewarding each recycling effort with additional Drop Coins.

It is our own spin on the classic reward point system. You get Drop Coins when you buy and when you return the bottle. The coins are deposited in your CryptoWater wallet, and you can then exchange these coins for a variety of items within our ecosystem."

The inspiration behind the project? Mario Tapias is a long-time crypto enthusiast. He has been passionate about understanding and exploring the potential applications, innovations, and developments within the crypto space ever since he began collecting and mining Bitcoin in 2012. However, having seen the unsustainable practices that started to appear around crypto mining efforts, Mario decided to bring a fresh twist to the game.

With a colorful backstory of beer distribution in Argentina and New York City, this San Juan native fondly recounts, "I was always one to turn stumbling blocks into stepping stones. Where others see problems, I see opportunities for improvement and growth. Instead of joining the chorus of voices calling for bans and restrictions, I believe in finding solutions to make things better and more acceptable.

The story that began on the serene streets of San Juan is certainly making a spectacular splash in bustling Astoria. With CryptoWater, Tapias doesn't merely aim to serve a thirst-quenching beverage; he aspires to blend the routine act of hydration with a refreshing dose of digital currency and sustainability.

With CryptoWater, the world of cryptocurrency is no longer confined to the screens of our computers, but its becoming an exciting blend of taste and technology. With Drop Coin, every gulp is a step towards a future that seamlessly merges sustainability, financial independence, and consumer empowerment. So, buckle up and brace for the wave because Mario Tapias is bringing a splashing new era to our doorsteps.

Read the original here:

CryptoWater: The Refreshing Taste of Cryptocurrency - Cryptonews

Cryptocurrency trading has emerged as a lucrative and dynamic venture in the digital age. With the rise of cryptocurrencies like Bitcoin and Ethereum, more people are venturing into this exciting realm to capitalize on its potential for high returns.

Successful cryptocurrency trading requires a solid understanding of the fundamentals, strategies, and best practices involved. This comprehensive guide aims to provide you with the knowledge and tools to navigate the world of cryptocurrency trading with confidence and minimize risks.

Cryptocurrency refers to a digital or virtual form of currency that uses cryptographic technology to secure transactions, control the creation of new units, and ensure the integrity of the underlying blockchain network.

Unlike traditional fiat currencies, cryptocurrencies operate on decentralized networks, which provide transparency, immutability, and resistance to manipulation.

Key features and advantages of cryptocurrencies include decentralization, security, fast and low-cost transactions, global accessibility, and the potential for substantial returns on investment.

Some of the popular cryptocurrencies in the market include Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash, each with its unique characteristics and use cases.

To excel in cryptocurrency trading, it is essential to grasp the basics of this dynamic market. Cryptocurrency trading involves buying and selling digital assets with the aim of generating profits from price fluctuations.

Traders utilize various strategies, such as technical analysis, fundamental analysis, and market sentiment analysis, to predict price movements and make informed trading decisions. It is crucial to stay updated on market trends, news, and events that can impact cryptocurrency prices.

Before diving into cryptocurrency trading, it is important to choose a reliable cryptocurrency exchange. Factors to consider include security measures, trading fees, available cryptocurrencies, liquidity, user interface, and customer support.

Creating an account on a cryptocurrency exchange involves providing personal information, verifying identity, and implementing security measures like two-factor authentication.

Cryptocurrency wallets are used to store and secure digital assets, and traders must choose between hot wallets (online) and cold wallets (offline) based on their trading needs and security preferences.

A successful cryptocurrency trading strategy starts with setting investment goals and determining risk tolerance. Traders should establish realistic expectations and consider factors such as time horizon and financial objectives. Thorough research and analysis of cryptocurrencies are essential.

Evaluating the fundamentals, technological advancements, market trends, and community sentiment surrounding a cryptocurrency can help traders make informed investment decisions. Building a diversified portfolio by investing in different cryptocurrencies across various sectors can reduce risk exposure and increase potential returns.

Executing trades effectively and managing open positions are critical aspects of cryptocurrency trading. Traders must understand how to place buy and sell orders on the chosen exchange, utilizing order types such as market orders, limit orders, and stop-loss orders.

Continuous monitoring of open positions allows traders to adapt to market conditions and make timely decisions. Utilizing tools like price charts, technical indicators, and stop-loss orders helps manage risk and protect capital.

To help with market grow, you can opt for ethereum code; an innovative trading system that enables individuals to find trading opportunities in online markets with ease.

Risk management is paramount in cryptocurrency trading to protect capital and minimize potential losses. Setting stop-loss levels, allocating appropriate capital for trades, avoiding excessive leverage, and maintaining discipline in following trading plans are crucial practices.

Staying updated with market news, avoiding emotional decision-making, conducting regular portfolio reviews, and learning from both successes and failures are additional best practices for cryptocurrency trading.

Ensuring the security of your investments is of utmost importance in cryptocurrency trading. The digital nature of cryptocurrencies and the prevalence of cyber threats necessitate robust security measures. Here are key considerations and best practices to protect your investments:

Cryptocurrency trading offers immense opportunities for individuals seeking financial growth in the digital market. By understanding the fundamentals, developing effective trading strategies, implementing risk management techniques, and prioritizing security, traders can navigate the cryptocurrency landscape with confidence.

Continuous learning, staying informed, and adapting to market changes are vital for long-term success. With caution and perseverance, anyone can explore and excel in the world of cryptocurrency trading, potentially reaping substantial rewards in the process.

Dont miss another story! Get the Islands latest news delivered straight to your inbox. Sign up to our daily newsletter here.

The rest is here:

INTRODUCTION TO CRYPTOCURRENCY TRADING - Island Echo