• Bitcoin is trading above the $28k level for the first time since June 2022.
• Coinjournal’s Dan Ashmore believes that the interest rate forecasts are responsible for the ongoing rally by Bitcoin and other cryptocurrencies.
• Many in the market still consider the recent banking crisis as the reason why investors are entering the crypto market.

Bitcoin Rallying Due to Interest Rate Forecasts

Bitcoin, the world’s largest cryptocurrency by market cap, has been performing excellently over the past few weeks. At press time, its price stands at $28,411, up 13% over last seven days. Coinjournal’s Dan Ashmore recently pointed out that Bitcoin’s rally has to do with interest rate forecasts rather than recent banking crisis.

Interest Rate Forecasts Behind Bitcoin Rally

During an interview with CNBC, Ashmore said that this incredible rally is a reaction to complete flip in interest rate forecasts in wider economy. Before Silicon Valley Bank collapse there was 83% probability of 100 basis points increase in summer, but today it’s completely opposite with almost 100% chance of rate cuts. According to him cryptocurrencies trade as risk-on assets so such a move from Fed could be music to crypto investors ears who believe prices will soar higher over coming days and weeks.

Banking Crisis Linked To Crypto Rally?

Many people attribute crypto rally to collapse of few banks like Signature Bank, Silvergate Bank and Silicon Valley Bank but Ashmore believes it’s largely due to change in Fed’s interest rates policy. He added that crypto market reacts quickly when major events like these happen hence it can be argued that banking crisis also played its part in pushing prices higher even though it was not main driving force behind current bull run we’re seeing right now.

What Does Future Hold For Crypto Market?

It’s impossible to predict what will happen next but one thing is certain – future looks bright for cryptocurrencies given massive institutional investments which have been pouring into space lately and positive news about digital asset regulations from around world which would bring more clarity on legal status of cryptos like Bitcoin & Ethereum going forward.

Conclusion

The ongoing crypto rally has prompted many experts to come up with various theories about why we’re seeing such an incredible surge in prices but according to Coinjournal’s Dan Ashmore most likely reason behind this extraordinary growth is because of change in interest rate forecasts by Federal Reserve which have pushed investors towards investing more heavily into cryptocurrencies as risk-on assets rather than traditional markets such as stocks or bonds etc

Meta to End Support for NFTs on Facebook and Instagram

• Meta will no longer support nonfungible tokens (NFTs) on its social media platforms.
• The company introduced the NFT feature roughly a year ago, but has decided to focus on other ways to support creators, people, and businesses.
• Meta will continue to work with NFT and web3 content creators who take advantage of its various tools to help them grow their community.

Background

Meta introduced its NFT feature on May 10, 2022. By August, the social media giant had expanded the NFT feature to capture 100 countries in the Americas, Asia-Pacific, Middle-East, and Africa. By September, Meta introduced a new feature that allowed users on both Facebook and Instagram apps to share and cross-post their digital collectibles.

Announcement

Stephane Kasriel, Meta’s head of commerce and financial services, announced on Monday that the social media giant is ending its support for nonfungible tokens (NFTs) on its social media platforms. He said; „A big Thank You to the partners who joined us on this journey and who are doing great work in a dynamic space. Proud of the relationships we built. And look forward to supporting the many NFT creators who continue using Instagram and Facebook to amplify their work.“

Focus Going Forward

Despite winding down support for NFTs, Kasriel said Meta continues to pursue various ways it can help creators connect with their fans. The social media giant will focus on other products such as Reels for messaging and monetisation. Meta added that it would continue to work with NFT and web3 content creators who take advantage of its various tools to help them grow their community.

Conclusion

Meta’s decision comes as no surprise given how quickly trends change in technology. Despite ending support for NFTs, Meta continues to find ways it can help creators connect with their fans through other products such as Reels for messaging and monetization purposes

• The Polygon price has been on a downward trajectory since the late 2022 market sell-off.
• If bears breach a major support area, MATIC could dip to $0.94.
• The launch of the zkEVM mainnet beta is likely to trigger new buying momentum for the cryptocurrency towards the scheduled rollout on 27 March.

Polygon Price Analysis

Polygon price has seen an extended downward trajectory since the sell-off that hit the broader crypto market in late 2022. A strong bounce in the first two months of the year has however hit tough terrain with price declines across the market contributing to MATIC reversing course.

Potential Dump to $1

A potential breakdown to lows of $1.00 is likely if bears take further control of short term market sentiment. In particular, the outlook for Bitcoin suggests bears are not ready to give up territory around $22,500, a scenario that could see BTC dump and catalyse fresh losses across the market.

Support and Resistance Levels

MATIC continues to hover above $1.00, but looks constrained below the recent supported turned resistance zone around $1.15. A slight upside early Tuesday indeed looks to have hit a supply zone near this price range, although with the 4-hour chart printing four successive green candles, bulls may retest resistance at $1.18.

Bullish Signs

The Polygon community is awaiting the launch of zkEVM mainnet beta which is likely to trigger new buying momentum for MATIC towards its scheduled rollout on 27 March. If support holds at $1.15 then bulls could reclaim it as support and push MATIC/USD higher towards its immediate resistance line near 200 MA at $1.27.

The 4-hour RSI is slightly sloped below 50 after bouncing off bearish line while MACD indicator recently flipped bullish but Polygon’s prices continue trading below 50 SMA.

Summary

• EOS is a blockchain project launched in 2017 and has been one of the oldest and most well-known crypto projects.
• Despite its popularity, EOS’s performance has been lackluster recently due to concerns about high centralization among validators and several damaging hacks.
• Price predictions for 2023, 2024, and 2025 for EOS range from $1.80 up to $5.09 per token.

EOS Overview

EOS (EOS) is a smart contract-enabled blockchain that was launched in 2017. It quickly rose through the ranks to become one of the most valuable cryptocurrencies with a peak market cap of $17.5 billion in 2018. Despite remaining in the top 50 projects during the crypto winter, EOS’s price has been underwhelming recently due to concerns about high centralization among validators and several damaging hacks.

EOS Price Prediction

During the ongoing crypto winter, EOS seemed to be one of the biggest losers with its price falling almost 95% from its May 2021 peak to a low in November 2022. Though it has risen 43.5% as the crypto winter began to thaw in January, many investors are still staying away from EOS due to its lack of innovation compared with other layer-1 solutions on the market. Maximum price predictions for 2023 estimate it will reach up to $1.80 per token, while 2024 and 2025 could bring returns of $2.93 and $5.09 respectively – though these returns fall short of other projects like Metacade which could skyrocket 100x by 2023!

Metacade Token

Metacade’s MCADE token is set to become one of the biggest performers within cryptocurrency markets this year – some are predicting that it could rocket 100x by 2023! The MCADE presale is now live so those interested can take advantage of this exciting opportunity now before prices increase further!

Conclusion

Though EOS remains an important part of cryptocurrency markets, its potential for growth appears limited compared with other projects like Metacade which could offer far higher returns over the next few years – up to 100x more than what EOS may offer by 2025! For those seeking higher gains from their investments then Metacade’s MCADE token looks set to provide just that opportunity – especially if you jump onboard during this current presale period!

• Bitcoin „shrimp“ wallets, which hold 1 bitcoin recently surged to 43.2 million
• Data also shows bitcoin wallets in profit have reached 70% after recent price gains
• Bitcoin addresses with 0.01 BTC or less have also hit an all-time high of 32.6 billion

Bitcoin “Shrimp” Wallets Reach All-Time High

Recent data indicates that Bitcoin “shrimp” wallets, those holding 1 bitcoin or less, have surged to a new all-time high of 43.2 million. This comes alongside an all-time high of 32.6 billion for Bitcoin addresses holding 0.01 BTC or less and 70% of Bitcoin wallets in profit after recent price gains.

Recent Price Gains

Bitcoin recently reached an 8 month high when it rallied to highs above $25,000 last week, despite a 78% outflow from investment products due to negative sentiment from the market. The increase in the number of non-zero wallets may be attributed to this upside momentum and could be indicative of an influx of new investors into the cryptocurrency space.

FTX Collapse and Shrimps Buying

Despite the FTX collapse leading to prices dropping, shrimps actually increased their buying on this news as CoinJournal reported at the time which further supports the theory that more people are investing into Bitcoin than ever before.

Profitability Reaching 10-Month High

The increase in the number of non-zero wallets is likely contributing to overall growth in terms of address count with one BTC or lower as well as profitability reaching a 10-month high according to Glassnode data showing 7-day moving average wallet profitability being at its highest level since April 2020.

Conclusion

Overall, these figures demonstrate how far Bitcoin has come over the past year and how much potential there is for continued growth within the industry going forward – especially if more people continue investing into it from here on out!

• The article discusses the volatility of Bitcoin, which has been increasing over the last few years.
• When comparing Bitcoin’s returns to other assets like the Nasdaq and individual stocks, it is much more volatile.
• Data shows that while Bitcoin was more volatile until 2015, there has not been any improvement since then.

Realised Volatility

Bitcoin’s volatility has been on a roller coaster ride since its inception in 2009. We can chart this volatility using realised volatility, which looks at the magnitude of movement by looking at a rolling 30-Day window. Data from before 2015 is hard to put any weight into as Bitcoin was still a niche Internet currency few had heard of, and its liquidity was minimal. However, when zooming in on data from 2015 onwards it does look like Bitcoin may be calming down somewhat in the latter half of 2021, 2022 and start of 2023.

Comparing Returns

When comparing Bitcoin’s returns to other assets such as the Nasdaq or individual stocks it blows them out of the water with regards to volatility. Last year saw an average weekly volatility versus USD which was 26X greater than the euro, up from 19X in 2021 and 16X in 2020. This suggests that while things have gotten better since 2015 they have not improved enough for investors to start trusting cryptocurrency markets with their money yet.

A Major Problem

The issue here is that while there is a perception that things are getting better with regards to Bitcoin’s volatility – this isn’t backed up by data. This presents a major problem for those hoping for wider adoption of cryptocurrencies into mainstream finance as high levels of price swings make them difficult to trust or use as a store of value or form or payment system for everyday transactions due to lack of stability.

Regulation Could Help

One potential solution lies in increased regulation; something that would likely need input from both financial authorities and governments around the world if it were to become reality – something easier said than done given how many potential pitfalls could arise in this area given how new cryptocurrencies are compared to traditional finance markets..

Conclusion

In conclusion it appears that while there may be signs that Bitcoin’s volatility is coming down somewhat they are not significant enough yet for it too be considered trustworthy by mainstream investors who prefer stable investments with lower risk profiles – something which stringent regulation could help address but will take time to implement correctly due to its complexity and novelty within global finance markets

• The Federal Reserve of the United States (Fed) has raised the funds rate once more this week – this time, by 25bp.
• The decision triggered a selloff in the US dollar, which lost ground against its peer fiat currencies and Bitcoin.
• Technical analysis favors a stronger dollar, but investors must be patient before shorting the market as BTC/USD is in a rising wedge formation.

Federal Reserve Raises Funds Rate

The Federal Reserve of the United States (Fed) has raised the funds rate once more this week – this time, by 25bp. This decision triggered a selloff in the US dollar, which lost ground against its peer fiat currencies and Bitcoin.

US Dollar Weakness

The reason for the greenback’s weakness was the message that disinflation in the United States had already begun. As such, it appears that the Fed is approaching the terminal rate for this tightening cycle. Nevertheless, investors suddenly decided it was time to buy back into dollars on day following the Fed’s decision.

BTC/USD Price Action

Bitcoin dropped against the dollar after trading above $24k for a brief period. At current levels, it sits dangerously at lower edge of a reversal pattern – a rising wedge formation. A bearish divergence also forms when oscillator such as RSI fails to make new higher highs while price action does form them; hence showing signs of weakness in market.

Trading Strategy

Traders must be patient before shorting BTC/USD as there is still potential for an upward move within reversal pattern if market breaks below pivotal area marked on chart above; thus ending pattern and allowing for new market move to start afterwards.

Conclusion

The Fed’s decision triggered some volatility in USD and Bitcoin markets but technical analysis still favors a stronger dollar going forward due to inflation concerns being over with now. Nevertheless, investors should keep an eye on BTC/USD charts and wait patiently until they are sure that reversal pattern has ended before jumping into any trades related to this currency pair

• Moody’s Corporation, a leading global credit-ratings company, is reportedly developing a scoring system for the stablecoin industry.
• The new system will offer access to ratings for up to 20 stablecoins, with the company utilizing the latest technology to score the asset-backed tokens.
• Among the most important metrics to consider will be the reserves and quality of attestations for each of the stablecoins.

Moody’s Corporation, a leading global credit-ratings company, is reportedly in the process of creating a scoring system for the burgeoning stablecoin industry. According to a report by Bloomberg, which cited sources familiar with the development, the system will not be an official credit rating, but rather a comprehensive analysis of the world’s largest stablecoins.

Moody’s already has a presence in the world of digital assets, having provided credit ratings to major companies such as Coinbase. It also has a research unit which offers insightful analytic reports related to various issues in the crypto industry. The new system will offer access to ratings for up to 20 stablecoins, and Moody’s will utilize the latest technology to score the asset-backed tokens.

The scoring system will be based on various important metrics such as the reserves and quality of attestations for each of the stablecoins. According to the report, the system is being developed to meet the increasing regulatory attention on the stablecoin market which is growing rapidly. This comes as no surprise, as the industry has become increasingly important in recent times, with leading stablecoins such as Tether (USDT), USD Coin (USD) and Binance USD (BUSD) having a major impact on the market.

Moody’s system is expected to provide an accurate rating for the top stablecoins and help users make informed decisions when choosing which stablecoin to use. The company is reportedly working on the system to ensure it is compliant with all applicable regulations and will also provide user feedback to further enhance the system’s accuracy.

This development from Moody’s is a positive step for the stablecoin industry, as it will provide users with the necessary information to make informed decisions about which stablecoin to use. It is also likely to be welcomed by regulators, as it will help ensure that stablecoins are used responsibly and in line with the applicable legal requirements.

Bullet Points:
• Silvergate, a crypto-friendly bank, announced it is suspending payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A.
• The company is taking this move to help preserve capital following the effects of recent turbulence across the crypto ecosystem.
• Following the announcement, shares of parent company Silvergate Capital (NYSE:SI) fell more than 11% in early morning trading, hitting lows of $12.55.

Crypto-friendly bank Silvergate recently announced that it is suspending payment of dividends on its series A preferred stock, causing its shares to fall more than 11% pre-market. Silvergate is taking this move in an effort to help preserve capital as the company navigates the recent turbulence across the crypto ecosystem.

The company reported a $1 billion loss in the fourth quarter and also cut its staff by 20%, likely due to the crypto bear market and the impact of FTX collapse. The Board of Directors will re-examine the company’s payment of quarterly dividends at a later date, with this dependent on how „market conditions evolve.“

Shares of parent company Silvergate Capital (NYSE:SI) fell more than 11% in early morning trading following the announcement, hitting lows of $12.55. Despite a decent run this week, Silvergate shares are down 50% from their all-time high of $25.61 on January 11th.

The crypto-friendly banking sector has been hit hard over the past few months, as the market downturn has taken its toll on companies in the space. Silvergate’s decision to suspend dividend payments is a sign of just how dire the situation has become for many crypto companies.

With the market showing signs of recovery, Silvergate will be hoping that its decision to suspend dividend payments will help the company preserve enough capital to survive the current market turbulence. While it remains to be seen how the market will develop in the coming months, Silvergate’s decision to suspend dividend payments is a sign of just how precarious the situation is for many companies in the crypto space.