This is an opinion editorial by Konstantin Rabin, a finance and technology writer.

Good ol bitcoin, the granddaddy of cryptocurrency, is increasingly being used as a reliable store of value for those looking to move away from the more established asset classes as it is continually proving itself as a solid hedge against inflation.

In fact, this is something I have been doing for some time now and, in this article, I will explain why I allocate a share of my wealth to bitcoin and how I see it as ideal for preserving the value of my net worth.

Why Allocate A Share Of Your Wealth To Bitcoin?

Despite the volatility and fear-mongering that is prevalently posterized when talking about bitcoin as a revolutionary investment vehicle, there is plenty to be said about why it is a valid contender in this market. It should be noted that no investor worth their salt would tell you to put your life savings into crypto, but there is plenty of upside potential for those looking to make long-term returns or preserve a portion of their wealth this way.

Let me just mention a few of these advantages that make this investment in bitcoin worth looking more deeply into:

• Alternative store of value: Bitcoin is as good as it gets when looking for a store of value outside of third-party manipulation. Being decentralized means that it circumvents many of the red-tape aspects and fees that come with leaving your money in the hands of financial institutions. As a result, it is not subject to the same inflationary pressures that are so prevalent with companies operating in the government-controlled fiat currency system.
• Potential for long-term growth: There is no doubt that bitcoin's value is extremely volatile in the short term, but its long-term trend has historically been a fairly bullish affair. The idea of HODLing comes into play here, as you will really only be able to see the true value of your investment when ignoring the spikes and holding on for dear life.
• Diversification: As I said before, investing in bitcoin does not mean that you dump all of your hard-earned eggs into the chaotic basket that is crypto, but you can provide some much-needed, future-oriented diversification for your investment portfolio. As bitcoin's price is increasingly uncorrelated to those of traditional assets, such as stocks and bonds, adding some of these digital coins to your portfolio can help spread out the overall risks that your investments might face from the old guard. In fact, what we have seen over the past few years is that bitcoin has become a new so...
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0.00010 BTC = 2.67 USD
1.00 USD = 0.00004 BTC
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Litecoin (LTC) is still trending low like the rest of the cryptocurrency market but one thing that separates the altcoin from the others is its obvious bullish case. Unlike the rest of the market, Litecoin looks set for another rally which will likely be propelled forward by the next halving.

Litecoin Halving Presents Bullish Scenario

Just like Bitcoin, the Litecoin halving happens every four years and cuts block rewards by 50%. The aim of this halving is to reduce the amount of new supply flowing into the market. And as demand rises, there is less supply to meet this demand, thus leading to scarcity and a surge in prices.

The next Litecoin halving is now around the corner with only about three months left to go. This halving, like the ones before it, carries the same promise of a rally for the digital asset. The last halving in 2019 saw LTCs price bottom out around $62 and then rally to a local peak of $80 in the same month.

If this years halving stays true to this trend, then the digital asset should be seeing some upside in the coming months. This could result in LTC clearing the $100 level once more as investors prep for the next leg-up.

A 20% upside is attainable at this point, especially with the halving expected to happen in early August. So more than likely, the buyers will dominate the market for the next two months, leading to rising prices for Litecoin.

LTC Outlook For 2023

Presently, the crypto market is seeing muted momentum as investors remain indecisive. For Litecoin, the upcoming halving remains a bullish event but the prospects for the months following the halving event do not look good given historical performances.

...

Bitcoins (BTC) current sideways price action has left investors wondering what the future holds for the worlds largest cryptocurrency. The upcoming interest rate hikes by the Federal Reserve (Fed) may pose the next big challenge for Bitcoin, according to the crypto market analysis firm Blofin Academy.

Is Bitcoin Ready For The Heat Of Interest Rate Hikes?

The US economy has shown considerable resilience in recent months, prompting the Fed to consider raising interest rates to prevent inflation. However, this could be bad news for the crypto market, as higher interest rates tend to make traditional investments more attractive, potentially leading to a decrease in demand for Bitcoin and other cryptocurrencies.

The correlation between interest rates and Bitcoins price action has been observed in the past. When interest rates rise, investors tend to move their money into traditional investment vehicles such as stocks and bonds, leading to a decrease in demand for cryptocurrencies.

However, its worth noting that Bitcoin has often been viewed as a hedge against inflation, which means that it could still hold some appeal for investors during times of economic uncertainty. 

The next scheduled Fed meeting is set to take place on June 14, 2023, where the central bank will likely discuss the possibility of raising interest rates in response to the current state of the US economy. 

Noelle Acheson, owner of the Crypto Is Macro Now newsletter, has cautioned against investors piling into the crypto market at this time. While the upside potential for Bitcoin remains significant, Acheson suggests that there is currently no compelling reason for investors to take on additional risk.

According to Acheson, there are few macro determinants at the moment, such as debt limit negotiations and Fed rate policy, which are leaving investors waiting for more clarity before making any major investment decisions. As a result, there is a sense of caution in the market as traders wait to see how these macro factors will play out.

Despite the lac...

Politicians in the United States will likely strike a deal and raise the governments $31.4 trillion debt ceiling for two more years. Amid this debate, the price of Bitcoin is firm but lower, tracking below the psychological $30,000 level as bulls recover after posting sharp losses mid-this week.

The Debt Ceiling Debate

There are reports that there will be more discretionary spending on the military and veterans with the reduction of other sectors.

Moreover, there are unconfirmed reports that the Biden administration will likely not fund the Internal Revenue Service (IRS) to boost collection, as laid out earlier.

Instead, the immediate focus will be to hire more auditors and target wealthy citizens.

There are concerns that the Treasury Department and the United States government will default on their obligation as soon as the first half of June 2023.

Even though highly unlikely, as the Treasury Department has said it will liquidate $119 billion of debt on that day, the market is watching how discussions pan out.

Bitcoin is firming up after losses on May 24.

As a deal is reportedly struck and consensus reached, politicians would once again lift the debt ceiling, sending mixed signals to the economy.

Unlike in previous years when top cryptocurrencies were decoupled from the mainstream economy, things have changed as Bitcoins prominence rises.

Will Bitcoin Benefit?

BTC prices will likely rally if there is an instance of default brought about by politicians disagreeing on the way forward.

On the reverse side, a deal that addresses concerns brought by the negotiating parties could signal confidence in the economy despite more debt on the table.

This averts a crisis and keeps operations running, removing uncertainty and stabilizing the economy.

In that case, the USD could strengthen, possibly reversing gains by Bitcoin bulls in the last two trading days.

Still, the crypto community remains bullish on Bitcoin considering macroeconomic events and next years halving.

After months of steady interest rate hikes, the United States Federal Reserve could slow down rate increments in the next meeting in mid-June. Their action could support the commodities and securities markets.

At the same time, the expected supply shock following the halving of Bitcoin miner rewards could make BTC scarcer, driving prices even higher.

Miners are special nodes tasked with confir...

The Ordinals protocol has taken the Bitcoin world by storm. Quickly amassing over 9,000,000 inscriptions, the new protocol allows for arbitrary data to be embedded on the Bitcoin blockchain. In addition to attracting attention from the NFT industry, Ordinals have led to a major increase in the fees required to send bitcoin, eliciting new debate on how Bitcoin should deal with high fee environments. 

In a recent interview with Bitcoin Magazine, Farokh, founder of the Rug Radio platform and a well-known collector within the NFT industry, shared insights into the world of Bitcoin NFTs and his vision for the Bitcoin inscription markets future. Reflecting on his own Bitcoin and NFT journey, Farokh acknowledged the initial confusion surrounding Bitcoin in 2012, given the lack of development and user-friendly platforms at the time. However, he highlighted the rapid growth and development of NFT platforms in 2021, and how that is reflected now in the context of Bitcoin NFTs sudden rise in popularity.

When discussing the advantages of Ordinals, Farokh emphasized the security aspect of storing art on the Bitcoin blockchain, stating, "Ordinals now enable art to be stored on the most secure blockchain in the world, without keeping this data in external databases where it can be vulnerable to manipulation." He identified this as the biggest benefit of Ordinals over NFTs on other, less secure blockchains, recognizing the need for censorship-resistant and immutable storage solutions.

Regarding the future of Bitcoin NFTs, Farokh expressed his optimism. He also acknowledged the current challenges, such as high costs and the need for infrastructure development, but believed that with the continuous growth of the Bitcoin ecosystem, improved solutions would emerge.

Farokh also discussed the entry of luxury brands into the Bitcoin NFT space, mentioning the collaboration between Aspire and Bugatti. He expressed his curiosity about high-end brands embracing ordinals and leveraging the security and authenticity provided by the Bitcoin blockchain.

When asked about the reaction of projects transitioning to Bitcoin NFTs, Farokh noted the generally positive response. He drew parallels to the early days of NFTs, where skepticism was common but ultimately proven wrong. He also highlighted the positive reception of projects like Yuga Labs TwelveFold, indicating that the acceptance of Bitcoin NFTs was gradually gaining momentum.

Looking ahead, Farokh envisioned a mature Bitcoin NFT market with user-friendly platforms accessible to retail users. He remarked, "Look h...

Arbitrum (ARB) has been making waves in the crypto world as it recently became the 4th largest ecosystem in the market. Despite experiencing a sharp decline of 70% since its airdrop, Arbitrums native token has continued to gain attention from investors, currently trading around $1.158, down from $1.1808 on April 18th.

Arbitrum Defies The Odds

According to the Decentralized Finance (DeFi) researcher Deebs, Arbitrum has emerged as a major player in the crypto market, with its Total Value Locked (TVL) soaring to an impressive $2.3 billion. This puts it in 4th position by TVL, surpassing many of its competitors. 

Additionally, since the launch of Arbitrum, the value of stablecoins has grown by over $500 million in just two months. At its peak, the networks active user base reached over 600,000, surpassing Optimism (OP), a fast, stable, and scalable L2 blockchain built by Ethereum developers, and nearly overtaking the blockchain platform designed to host decentralized, scalable applications Solana (SOL). 

Despite these impressive metrics, ARBs price has experienced a significant drop of 70% since its airdrop and has had very little positive price action since. However, DeFi researcher Deebs believes that this dip in price may be a sign of a hidden gem in the crypto market.

One of the main factors that make Arbitrum an attractive investment opportunity is its high TVL, user base, and liquidity. In fact, since its launch, Arbitrum has maintained the highest liquidity of all Layer 2 (L2) networks and is the third highest of all chains on DeFi Llama.

Furthermore, while many other chains have a market capitalization to TVL ratio above 1, Arbitrum boasts one of the sma...

The price of Uniswap, the largest decentralized exchange by trading volume, is down roughly 35% from Q1 2023 peaks. Even so, on-chain data from Etherscan shows that there has been a steady increase in the number of UNI holders in the past two days.

As of May 13, there were 369,646 UNI holders. Since then, the number has increased to over 370,100 as of May 26. During this time, UNI prices have remained stable but relatively high.

Based on the UNIUSDT chart, the prices have found support around $4.9. However, prices have increased by approximately 10% over the past two weeks, rising to $5.4. Although the number of UNI holders may not directly affect the prices, there is a clear correlation between the demand for UNI and the increase in token prices.

Several factors could have provided tailwinds for UNI, the governance token of Uniswap. 

Apple Jail Break

On May 23, Uniswaps mobile wallet was released from what Uniswap Labs, the team maintaining Uniswap, said was Apple jail. 

With this jailbreak, users can download the Uniswap Wallet, thats non-custodial like MetaMask. 

Through this wallet, users can buy and sell various supported cryptocurrencies. 

This announcement is bullish because as more users opt for Uniswap Wallet, the demand for the decentralized exchange could rise, increasing its dominance and stature. 

While MetaMask remains the most dominant Ethereum and Ethereum Virtual Machine (EVM) wallet enabling the storing and trading of various tokens, even using processors like PayPal, the popularity of Uniswap could see Uniswap Wallet gnaw market share. 

Presently, Uniswap Labs said their wallet could support the trading of tokens across Ethereum, Polygon, Optimism, and Arbitrum.

Uniswap To Launch On Base?

Earlier on, the Uniswap contributors proposed the deployment of the DEX v3 on Coinbases Base. 

Among supporters of this proposal is GFX Labs, one of the largest UNI holders and supporters of Uniswaps expansion to other chains. Recently, GFX Labs voted for the launch of the DEX on BNB Smart Chain (BSC) and MoonBeam. 

Even so, before voting starts, the proposal will undergo a temperature check-up to gauge community support. If there is majority support,...

(Jasmin Merdan/Getty Images)

Worldcoin co-founders Alex Blania and Sam Altman (Marc Olivier/Worldcoin)

Man, hat, faceless (Tumisu)

<p>Toncoin (TON) has experienced a negative price decline, resulting in a bearish sentiment among investors of the altcoin. TON has been exhibiting a bearish strength on a monthly timeframe, based on data from CoinMarketCap. </p> <p>Within the last 30-Day trading session, the asset is down by 15,67%, indicating a high bearish strength with low buying pressure.</p> <p>As of the time of writing, the asset is experiencing a decline in value, as its down today by 2.76%. This downward trend has resulted in the asset, TON, reaching a low point of $1.91. </p> <p>The decrease in value reflects a temporary setback in the market, indicating a decrease in investor confidence. It also detects a shift in the supply and demand dynamics surrounding the asset.</p> <h2>Toncoin (TON) Bears Maintained Their Positions</h2> <p>Toncoin (TON) witnessed a sharp price decline on May 23, from $2.03 to its <a href= "https://www.coingecko.com/en/coins/toncoin/historical_data#panel" rel="nofollow">present value</a> of $1.89. This price decline represents a loss of 6.89%.</p> <p>This decline reflects the dominance of bearish sentiment in the market, which shows a lack of investor confidence and a shift in the supply and demand dynamics.</p> <p>According to the market sentiment indicator, the current market sentiment is bearish, while the Fear & Greed index value is a neutral 49. Notably, a Fear & Greed index value below 50 points to an increase in bearish momentum.

Conversely, an important resistance level is noted at $2.080, representing a significant hurdle for potential upward movement. </p> <p>Toncoin trades below the 50-day and 200-day Simple Moving Average (SMA). The SMAs formed a Death Cross in the TON market on May 21, 2023. </p> <p>This confirms the bearish sentiment present in the market, indicating a potential sell signal and further price decline.</p> <p>The Relative Strength Index (RSI) momentum oscillator value is 40.98 and points downwards. RSI is a popular indicator showing whether a cryptocurrency is oversold or overbought. </p> <p>If TON RSI drops below 30, it may ig...</p>

Bridge (Unsplash modified by CoinDesk)

The Orb. (Worldcoin)

One notable change is the allowance of transactions of non-witness size 65 bytes and above, which opens up new use cases and enhances protections against vulnerabilities like CVE-2017-12842. Another addition is the scanblocks RPC, which allows for fast wallet rescans by returning relevant blockhashes from a set of descriptors.

In terms of RPC updates, all JSON-RPC methods now accept a new named parameter called "args" for passing positional parameter values conveniently. Additionally, the verifychain RPC will now return false if checks couldn't be completed at the desired depth and level, providing more accurate feedback.

The release also includes changes to the build system, updated settings and new features. For instance, the shutdownnotify option allows users to specify a command to execute before Bitcoin Core begins its shutdown sequence. In the wallet section, new options like minconf and maxconf have been added to various RPCs, providing greater control over UTXO confirmations.

Bitcoin Core 25.0 introduces several improvements and optimizations, enhancing the user experience and security of the software. As with any release, users are encouraged to report any bugs they encounter to the official GitHub issue tracker.

Bitcoin Core is widely supported and tested on major operating systems such as Linux, macOS, and Windows. However, it is not recommended to use Bitcoin Core on unsupported systems. Users should ensure they are running a compatible operating system before upgrading to the latest version. In addition, users are encouraged to review the release notes for a detailed understanding of the

In a recent note, JPMorgan strategists have made a prediction, suggesting that Bitcoin (BTC) could soar and revisit its former trading price of $45,000 due to the rising price of gold. This prediction comes amid Bitcoins price action of a blend of bulls and bears in the past week.

Meanwhile, over the past 24 hours, BTC has seen a 2.1% gain with a current trading price above $26,000. The current surge comes after Bitcoin previously fall that dropped its price below its previously ranging market price of $28,000.

Bitcoin And Gold: A Correlation

Bitcoin and gold have often been regarded as alternative investments by investors, and their prices have displayed a tendency to move in tandem.

Given this, JPMorgan analysts note that the current gold price, hovering near $2,000 per ounce, implies a Bitcoin price of $45,000. This assumption is based on the idea that BTC will reach a similar standing as gold in the portfolios of private investors.

JP Morgan wrote in a note:

With the gold price rising above $2,000, the value of gold held for investment purposes outside central banks is currently valued at around [$3 trillion]. In turn, this implies a $45,000 price for bitcoin under the assumption that bitcoin equalizes gold in private investors portfolios in risk capital or [volume]-adjusted terms.

One key factor contributing to JPMorgans optimistic prediction is the upcoming Bitcoin halving event, scheduled to take place between April and May 2024. The halving mechanism reduces the rate at which new Bitcoins are produced, effectively doubling the production cost.

The JPMorgan strategists believe this event will push Bitcoins production cost to approximately $40,000, acting as a lower bound and potentially driving the price upward.

Drawing from historical data, JPMorgan highlights the bullish trajectory observed during previous halving events in 2016 and 2020. These events were accompanied by significant surges in Bitcoin prices, indicating the potential for a similar outcome following the next halving.

As a result, JPMorgan sets an upper limit of $45,000 for BTC, indicating limited potential beyond the increase driven by the doubling of production costs.

Reflecting On Ethereum (ETH)

While Bitcoin takes the spotlight in JPMorgans prediction, the bank suggests that Ethereum (ETH) may face some selling pressure in the near term, extending beyond the Shanghai upgrade until mid-year. JPMorgan expects Ethereum to somewhat underperform...

Space Pepe NFTs

Lybra Finance TVL (Defillama)

Binance Logo (Danny Nelson/CoinDesk)

A top SHIB whale added $1.18 million worth of Shiba Inu within 24 hours. Data from Etherscan.io reveals that this whale ranked as the nineteenth largest SHIB holder accumulating 140 Billion SHIB.

The whale acquired the SHIB tokens in two separate transactions marking its second massive accumulation within 72 hours.

SHIB Token Burns And Shibarium Launch Likely Behind Accumulation

Shiba Inu network and users engaged in massive SHIB burn events in 2023. The burning mechanism aims to reduce excess tokens and boost SHIBs price. However, no notable price increase has occurred since the token burn events. 

Nevertheless, the top SHIB whales are accumulating the tokens ahead of the Shibarium launch and a possible price increase for the asset.

Related Reading: Bitcoin Hangs At $26,200: Why This Is A Crucial Support Level

BLAZE token has been identified as the largest SHIB burner in recent times on the ecosystem.

Shiba Inu Team Member Projects Timeline For Shibarium Launch

A member of Shiba Inus marketing team, LUCIE, shared her thoughts on the proposed mainnet launch of Shibarium in a Tweet. 

Shibarium is a Layer-2 (L2) scaling solution created for the Shiba Inu ecosystem. Its launch date is highly speculative, with several dates proposed in the past.

However, LUCIE stated that she guessed the launch date would be in Q3 of 2023, while Shiba Inu founder Shytoshi Kusama projects in July.

The exact launch date remains a mystery and LUCIE believes the Shibarium Mainnet Launch will happen between the second and third quarters of 2023. 

Additionally, she believes that Shibas team remains confident about the launch, with multiple teams working on it and exploring Artificial Intelligence (AI) integration.

LUCIE emphasized that the testing process is crucial and security audits are necessary before its launch. She explained further, that if tests go wrong, the Shibarium mainnet release will delay.

Despite the recent announcements concerning Shibariums launch, SHIB did not record much price fluctuation. It traded at $0.000009967 on May 1, 2023, before moving to $0.00001002 on May 2. However, by May 4, its price dropped to $0.000009896, losing some of its earlier gains.

SHIB dropped.....

Stably USD (Stably)

Terra Community AMA with Do Kwon (April 2021) (Terra, modified by CoinDesk)

(Pixabay)

On-chain data suggests a majority of the Bitcoin exchange inflows are currently coming from investors holding their coins at a loss.

Bitcoin Exchange Inflow Volume Is Tending Towards Losses Right Now

According to data from the on-chain analytics firm Glassnode, the short-term holders are mostly contributing to these loss inflows. The exchange inflow is an indicator that measures the total amount of Bitcoin thats currently flowing into the wallets of centralized exchanges.

Generally, investors deposit to these platforms whenever want to sell, so a large amount of inflows can be a sign that a selloff is going on in the BTC market right now. Low values of the metric, on the other hand, imply holders may not be participating in much selling at the moment, which can be bullish for the price.

In the context of the current discussion, the exchange inflow itself isnt of relevance; a related metric called the exchange inflow volume profit/loss bias is. As this indicators name already suggests, it tells us whether the inflows going to exchanges are coming from profit or loss holders currently.

When this metric has a value greater than 1, it means the majority of the inflow volume contains coins that their holders had been carrying at a profit. Similarly, values under the threshold imply a dominance of the loss volume.

Now, here is a chart that shows the trend in the Bitcoin exchange inflow profit/loss bias over the last few years:

As shown in the above graph, the Bitcoin exchange inflow volume profit/loss bias has had a value above 1 for most of the ongoing rallies that started back in January of this year.

This suggests that most of the exchange inflows in this period have come from the profit holders. This naturally makes sense, as any rally generally entices a large number of holders to sell and harvest their gains.

There have been a couple of exceptional instances, however. The first was back in March when the assets price plunged below the $20,000 level. The bias in the market shifted towards loss selling then, implying that some investors who bought around the local top had started capitulating.

A similar pattern has also occurred recently, as the cryptocurrencys price has stumbled below the $27,000 level. Following this plunge, the indicators value has come down to just 0.70.

Further data from Glassnode reveals that the bias of the...

(FLY:D/Unsplash)

Facebook CEO Mark Zuckerberg testifies before the House Financial Services Committee on Capitol Hill October 23, 2019, about Facebook's proposed cryptocurrency, libra.

Memecoins have come a long way from the early days of being joke cryptocurrencies.

Your brand establishes a bond. Without that bond, your customer base will simply erode more easily.

(Getty Images)

On-chain data from Santiment suggests that altcoins across the entire cryptocurrency sector may be underbought right now.

MVRV Of The Various Altcoins Suggests Underpriced Conditions

According to data from the on-chain analytics firm Santiment, cryptocurrency assets have become underbought as traders are now capitulating following a failed price rebound.

The relevant indicator here is the MVRV (Market Value to Realized Value), which measures the ratio between the market cap and the realized cap of a given cryptocurrency.

Here, the realized cap refers to a capitalization model for BTC where the value of any coin in the circulating supply is assumed to be not the current spot price, but the price at which it was last transacted on the blockchain.

This model aims to calculate a sort of fair value for the asset. As the MVRV compares the market cap (that is, the current price) with the real value of the cryptocurrency, it can provide hints about whether the price is currently overinflated or not.

Santiment has defined an opportunity zone and a danger zone for this indicator. As their names already imply, the asset in question becomes underpriced when the metric is in the former area, while it becomes overpriced in the latter one.

Here is a chart that shows the trend in the divergence of the MVRV from these zones for the various altcoins in the sector:

Whenever the MVRV divergence has a value of 1 or more, the indicator is said to be inside the opportunity zone. Similarly, the danger area occurs below a value of -1.

While these are the two extreme zones, the metric being firmly inside either the positive or the negative zone (but not hitting either of these thresholds), still signals slight underbought or overpriced conditions, respectively.

This means that the chances of bullish rebounds can become greater whenever the indicator enters positive territory. From the chart, its visible that the vast majority of the coins in the digital asset sector are at least inside the positive territory at the moment.

This would imply that these coins may have become underpriced recently. Some of the altcoins are also outright inside the opportunity zone, suggesting that they may be offering low-risk buying opportunities right now.

T...

(Getty Images)

Binance and its Thai partner Gulf Innova have secured digital asset operator licenses in Thailand to launch a new crypto exchange.

This is an opinion editorial by Conor Chepenik, an organizer for the MassAdoption Bitcoin meetup.

Congressman Brad Sherman's recent tweet attacking Bitcoiners as "tax evaders" is a prime example of how Bitcoin has become a mainstream phenomenon. It's ironic that politicians like Sherman, who have sworn an oath to uphold the Constitution and the presumption of innocence, are so quick to label Bitcoin supporters as criminals without any evidence. Such remarks undermine the fundamental principles of justice and fairness that underpin our legal system.

The fact that politicians like Sherman are attacking Bitcoin serves as a signal to those on the fence that there may be something to this "freedom money" that is constantly under attack by those who are corrupt and compromised by legacy systems. In a way, even those who attack Bitcoin may be unwittingly working for its success and adoption.

And clearly, politicians are expecting Bitcoiners to shoulder some kind of tax burden that they do not impose on anyone else.

Imagine if a politician tried to tax people for using computational power to do math or use English to express their views. They would be ridiculed and mocked because, on top of that being an insane policy, both of these subjects are essential to a functional society.

Instead of imposing arbitrary taxes, the government should focus on creating a regulatory environment that supports innovation and economic growth. Unfortunately, in opposition to that seemingly-obvious edict, the Biden administration has proposed a 30% tax on Bitcoin mining, which is not only unfair, but also hypocritical to the values that make the United States great.

If a market participant has paid for their energy, they should be free to use it as they wish. So, why is Bitcoin mining being targeted when other industries, such as pornography, video games or gambling, also use energy to allow people to indulge in their vices online? Im not vying for a tax on other industries. I firmly believe that if a market participant has paid for their energy they can do whatever they want with it. My intent is to point out that this proposal seems to be a clear example of government overreach and intervention in the private sector.

Reacting To Change

And it's not just Bitcoin mining that is being targeted. It is the entire Bitcoin network. When new and innovative ideas challenge the status quo, both humans and technology can exhibit resistance or em...

The ESMA reminded investment firms that crypto would remain unregulated in most jurisdictions despite upcoming regulations.

Coinmint's 10-megawatt facility in Skyway Plaza. (CoinDesk/Fran Velasquez)

(Papafox/Pixabay)

The ETH balance decline began in September 2022, dropping significantly in November and December after the downfall of FTX.

The French Senate favors lighter restrictions on crypto influencers (jlxp/Pixabay)

Bitcoin bulls are sitting on their hands but need to combat short-term sellers rapidly losing profitability, Glassnode warns.

Crime (Shutterstock)

The policies include a series of cash benefits to attract metaverse-related companies to set up shop in the city.

The company behind ChatGPT announced it would award 10 grants of $100,000 to teams worldwide to develop a democratic process for determining AI rules.

The EU agency warned about crypto (Ralph/Pixabay)

Ethereum (ethereum.org)

Shiba Inu (SHIB) has experienced a significant price drop, causing a considerable number of investors to find themselves in a precarious position. 

With the recent downward trend in SHIBs value, a staggering 1 million addresses now find themselves in the red zone, facing losses in their investment. 

In the context of crypto trading, the term red zone often refers to a situation where a digital currency is experiencing a significant decline or negative price movement. It is commonly associated with bearish market conditions or a downtrend.

This turn of events has sparked concern and curiosity among cryptocurrency enthusiasts and market observers alike, as they analyze the factors behind the price decline and its implications for the future of Shiba Inu and its large investor base.

Break Even Indicator Highlights Shiba Inu Price Drop Impact

In the midst of a volatile cryptocurrency market, the price of Shiba Inu (SHIB) on CoinGecko currently sits at a meager $0.00000852. Recent data indicates that SHIB experienced a modest 0.4% rally within the past 24 hours, but endured a gradual 2.0% decline over the span of seven days.

According to IntoTheBlock the Break Even Price indicator, the price movement has left a significant impact on SHIB investors. Out of the total SHIB addresses analyzed, approximately 1 million addresses, accounting for 79.74%, find themselves in losses. 

On the other hand, 219,880 addresses (17.51%) have either realized gains or are currently in profit. Additionally, 34,600 addresses (2.76%) are at a break-even point, meaning they are neither in losses nor profits.

The Break Even Price indicator is a metric that examines the realized gains and losses...

Both national and global companies will participate in the upcoming pilot project of the Brazilian central bank digital currency.

Milady collection. (Art by Remilia, modified by CoinDesk.)