Category: TRENDING

The co-creator of popular meme token Dogecoin (DOGE) says a lack of traditional oversight leaves crypto traders vulnerable to being fleeced.In a new interview with Australian media outlet The Project TV, Jackson Palmer, who along with Billy Markus developed Dogecoin in 2013 as a joke, says cryptocurrencies are speculative in nature because they derive value from other people rather than their actual utility.

“Cryptocurrency at its core is just a digital currency. The only reason that it has value is because people think it does.It is very much a purely speculative market. It doesn’t really provide anything back to society. You can’t really pay your rent with it. You can’t buy your groceries with it, necessarily.It’s a little bit like an online casino.Those are kind of the digital chips.” Palmer goes on to share his belief that the digital asset ecosystem is like a house of cards.

The best way I think about it is that you’re buying a receipt essentially that says you bought it. That’s about it.Other people in the world will honor that receipt. I think it’s a little bit of a house of cards, personally.”

The DOGE co-founder concludes by stating crypto assets are not inherently a scam but enable malfeasance due to the lack of government oversight and regulation that would protect ordinary consumers.

Last year, Palmer sparked a viral tweet storm criticizing digital assets and referring to mantras of decentralization and sound money as “facades” and “get-rich-quick schemes” that wealthy people use to lure financially desperate individuals into traps and avoid taxes.More recently, he warned that a crypto winter was coming despite the massive devaluation that has already taken place across all assets in the space.

Talking about the crypto market crash, economist Peter Schiff tweeted, “If Bitcoin can collapse by 70% from $69,000 to under $21,000, it can just as easily fall another 70% down to $6,000.” He added, “Given the excessive leverage in crypto, imagine the forced sales that’d take place during a sell-off of this magnitude. $3,000 is a more likely price target.”

Bitcoin can reach $2,000 but never $200,000: Economist Schiff

Economist Peter Schiff has responded after Davinci Jeremie, an early Bitcoin adopter, asked him that out of the two, $2,000 and $200,000, which price level will Bitcoin achieve first. “$2,000 is the only price that happens… $200,000 never happens,” Schiff said. Recently, Schiff predicted that Bitcoin could crash to $20,000 and warned investors against buying the dip.

Don’t panic we’ve been through this before also.Individual markets, such as cryptocurrencies, stocks or commodities, and the economy as a whole, experience cycles of expansion and contraction It is like the economy is breathing. There are periods when practicallyeverything goes up and others when almost everything goes down

Bitcoin has gone through multiple cycles in the past, and has alwaysbounced back, with a vengeance. In fact, in history, 100% of the people whohave bought and waited 4 years or more. have seen their investment grow.History does not have to repeat itself, but it is a very good precedent.The investment horizon is key. It is very difficult to know what will happentomorrow. On Wall Street there are physicists and mathematicians who tryand almost always fail. But as we extend the time horizon, the trend iseasier to predict.

Bitcoin broke the key $28,500 support zone against the US Dollar. BTC is down 10% and might even decline below the $25,000 support zone.

• Bitcoin extended its decline below the $28,500 and $26,500 support levels

• The price is now trading below the $28,500 level and the 100 hourly simple moving average.

• There is a key bearish trend line forming with resistance near $27,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).

• The pair could continue to move down below the $25,000 support zone in the near term.

The crypto community has predicted that Bitcoin’s price will surge more than 30% and reach $41,175 by June 30, 2022. This forecast is based on the last six predictions of the crypto community with 80% of prediction accuracy. Bitcoin is currently trading at $28,696 after a 24-hour decline of more than 4%.

The global crypto market jitters over the US inflation rate accelerating to a new 40-year high. Despite Friday’s sell-off, The Bitcoin Fear & Greed Index saw a modest rise during early Asian trading hours. The bearish session saw bitcoin fall to sub-$29,000 before finding support.With the Bears over the control, Bitcoin has experienced a downfall with the lowest price of $26,700. Whereas, now the Crypto king has taken a surge in its price by 18% up from its earlier lowest.

Coinmarketcap community Predicts that Bitcoin Price will Surge 30.06% and reach $41,175 by June 30, 2022. This forecast is based on the last six predictions of the crypto community with 80% of prediction accuracy.The given target is based on the average of votes by 34,436 members.

As news has been spread about Jack Dorsey’s Block intending to focus on Webs that will be based entirely on Bitcoin, some on crypto Twitter began making predictions joking that Elon Musk might want to build webs based on Dogecoin.

Here’s what Tesla boss and the most influential DOGE fanMusk thinks about this idea.

Jack Dorsey, who is now completely focused on Block (formerly known as Square) and Bitcoin, starting to build Web5 based on the world’s flagship cryptocurrency as opposed to Web3, which many Bitcoiners believe to be centralized and being financed by venture capitalists.

Among these believers is Jack Dorsey himself too.Dorsey believes that Bitcoin will play a leading role in the evolution of the Internet, thus is making a bet on BTC as basis for Webs as opposed to Web3 which intends to decentralize the internet based on blackchain in general and on tokenization.

SHIB burn rate up by 113% as 84 million tokens burned in 24 hours.

More than 84 million Shiba Inu tokens have been burned over the last 24 hours.This has resulted in SHIB burn rate going up by 113%. With more than 410 trillion Shiba Inu tokens burned from the initial supply so far, the coin’s current circulating supply stands at around 556 trillion.

According to the SHIBA INU website, SHIB is the “DOGECOIN KILLER” and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August. 2020 under the pseudonym . Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (Baby Doge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS) and Alaskan Malamute Token (LASM). These lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.