Category Archives: Bitcoin
Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it? – Cointelegraph
The launch of BRC-20 tokens and Ordinals NFTs on Bitcoin has transformed the No. 1 blockchain overnight into a clunkier version of Ethereum.
The core developers and miners who signed off on the networks Taproot upgrade in November 2021 never envisaged this would be the result. Bitcoin now suffers from many of the same problems that have bedeviled Ethereum for years, including scammy memecoins and shitcoins, NFTs of monkey pictures hogging block space and skyrocketing transaction fees.
The network is even having to deal with incidences of miner extractable value (MEV), whereby miners profit by reordering pending transactions.
Im kind of upset at myself for not realizing, says Quantum Economics founder Mati Greenspan, a Bitcoiner since 2013.
It took these guys starting to hype up JPEGs on Bitcoin until I was like: Oh shit, what did we just do? He laughs ruefully.
Some Bitcoiners on Bitcointalk and Twitter refer to the impact of Ordinal NFTs and BRC-20 tokens as an attack on Bitcoin, an exploit of Taproot, or simply as spam clogging up the network.
Its sparked a fierce debate over whether unexpected outcomes are precisely the sort of outcomes you should expect from a permissionless protocol, or whether something needs to be done to get rid of them.
Alongside the inefficiencies, theres also a gold rush for minting memecoins. Someone will deploy a contract with a ticker for a new token and a max supply, and then traders rush in to mint as many as possible in the series, on a first come, first served basis, at whatever fee rate gets them priority. These tokens have already surpassed $1 billion in market cap even though Domo argues they will be worthless.
But they are here to stay at least in the short term with major wallets already adding support for BRC-20 tokens. And newer developments, such as the launch of a Uniswap fork that amassed $500,000 in trading of smart BRC-20 tokens (SBRC-20) in just a few days, suggest that the building of a permissionless new ecosystem on Bitcoin is set to continue.
Greenspan points out that while the flurry of interest has seen Bitcoin transactions hit an all-time high, the number of unique addresses plummeted, meaning fewer people are accessing the network. And while transaction fee revenue has overtaken the block reward seen by many as the only way to ensure Bitcoins security after another couple of halvings it comes with a lot of issues.
I spoke to one miner yesterday who said his revenue has doubled, which is nice, especially ahead of the halving, so its good for miners, but its terrible for the countries of Nigeria and El Salvador, for example, where, suddenly, the average cost to send a transaction is $30, he says. The dream of financial inclusion on Bitcoin has been temporarily postponed.
Read also: What its actually like to use Bitcoin in El Salvador
Interestingly, this isnt the first time someone has put a token or NFTs onto Bitcoin. Counterparty led the way with NFTs on Bitcoin, with Spells of Genesis and Rare Pepes in 2015 and 2016. And stablecoin Tether also launched a token on Bitcoin back in 2014 via the Mastercoin protocol (which later became Omni).
On Bitcointalk, there is much discussion of fighting off the attack on Bitcoin, with some claiming its the work of malicious Bitcoin SV devs. Users are talking about a soft fork to enforce strict Taproot validation script size, ways the protocol can filter out what they see as spam or even a hard fork to reverse Taproot.
Bitcoin developer Luke Dashjr stated that action should have been taken months ago. Spam filtration has been a standard part of Bitcoin Core since Day 1. Its a mistake that the existing filters werent extended to Taproot transactions  since this is a bugfix, it doesnt really even need to wait for a major release.
Glassnodes lead on-chain analyst, Checkmate, tells Magazine that he believes this sort of censorship is against the entire ethos of Bitcoin and notes there are already optional mempool rules enabling node operators to filter ordinals if they choose.
From my view, any attempt to ban or censor these transactions is far more of an attack on Bitcoin than leaving them be. They are within consensus rules, and when a loud minority of individuals want to change the rules to stop something they dont like, that is the real attack.
But podcaster Chris Blec made the case on Twitter that limiting transaction types to ensure the health of the network wasnt censorship.
If it doesnt depend on the content of the message or the sender of the message, then its not censorship, he said.
Hass McCook, a former member of the Bitcoin Mining Council and a Bitcoin true believer, is no fan of Ordinals but thinks trying to get rid of them is a step too far, saying:
The only thing more important than Bitcoin is freedom. My general take is I personally dont like it and dont see value in it. But I dont want to censor it. I think that could go down a very dark path.
If the protocol allows for something and somebody is happy to pay to do that thing, then it is what it is.
Andrew Poelstra, director of research for Blockstream, is one of the inventors of Taproot. He doesnt like the upgrades toxic offspring either but doesnt see any practical way to stop them.
As near as I can tell, there is no sensible way to prevent people from storing arbitrary data in witnesses without incentivizing even worse behavior and/or breaking legitimate use cases, he wrote.
Read also: Is Bitcoin a religion? If not, it soon could be
Its not going to be possible just to ban useless data, he said, noting that people could just hide useless data like NFTs inside of useful data like dummy signatures or public keys.
Doing so would incur a 2x cost to them, but if 2x is enough to incentivize storage, then theres no need to have this discussion because they will be forced to stop due to fee market competition anyway.
The best-case scenario and the most likely, according to interviewees for this piece is that interest in the tokens and NFTs will die down as the memecoin fad plays out.
Network congestion on Bitcoin is not a new thing, right? says Greenspan. It usually comes with hype. But also it leaves when the hype is over.
Whats most likely to happen is people are gonna run out of money.
But if Ordinals continue to have an outsized impact on the network, theres always the nuclear option of forking Bitcoin to modify or remove Taproot. Blec and many others have raised the possibility, though it seems mostly hypothetical at this stage.
Greenspan says, while its always possible to implement a hard fork, itll split the network. And nobody wants that.
McCook says the market chose Bitcoin, rather than Bitcoin Cash or Bitcoin SV during the scaling wars in 2017, and he predicts the current version would win over a fork with Taproot.
Id take the Ordinals one. So, even though I dont find any value in Ordinals, maybe I need to inscribe something in the future that I need to have absolute censorship resistance, he says.
This could potentially have pretty powerful implications. Lets say Julian Assange decided to do his WikiLeaks info dump as an inscription, this is a very useful thing.
Greenspan also believes the benefits of using Bitcoin to store data have only just begun to be explored.
People are now aware that Bitcoin has the ability to store files. And Im excited to see what, you know, forward-thinking developers will do with this new tool. More than just creating memes.
When he released BRC-20, Domo added, I believe there are almost certainly better design choices and optimization improvements to be made.
Plenty of people agree. One of the easiest improvements would be to use binary rather than the JSON format, which developer John W. Ratcliff argues is one of the most inefficient data formats anyone could use. He believes this would reduce BRC-20 tokens from 89 bytes to 19.
This means that they are paying over four times as much in fees to commit these BRC-20 tokens than necessary, he said.
Hashrate Index researcher Colin Harper says that using binary code could reduce bandwidth by as much as 80%. However, this wouldnt entirely solve the problem, as Bitcoin influencer Udi Wertheimer points out, given the spike in fees is due to token minting degens bidding up fees to get their transaction prioritized into order to mint or snatch up low serial number tokens before the supply runs out.
Theres also another way to issue assets on Bitcoin called Taro, which Domo says is a better solution. Taproot Asset Representation Overlay is a proposed protocol that will allow people to issue digital assets on Bitcoin that can be transferred to Lightning for fast and cheap transactions.
Read also: Attack of the zkEVMs! Cryptos 10x moment
A much more radical and experimental approach is being taken by Trustless Computer, which is behind a Uniswap v2 fork called Trustless Market that enabled $500,000 worth of swaps in its first three days.
The projects documentation states its working toward a Turing-complete virtual machine called BVM built on top of Bitcoin to enable a DeFi ecosystem.
Core team member @punk3700 tells Magazine it is not a layer 2, its a protocol within layer 1 that works like Ordinals but uses SBRC-20s.
Instead of writing text files to Bitcoin, Trustless Computer writes smart contract transactions to Bitcoin. Raw files vs. programs/logic/apps. He claims this cuts down the bandwidth required for the tokens by 80%90%.
I think the BRC-20 in their current form (using text files) are a flash in the pan, he says. You cant use paper and pen to build an alternative scalable financial instrument.
Our SBRC-20 implementation is different. We use smart contracts, the same ERC-20 smart contract on Ethereum. It works exactly as programmed.
Ordinals is v0.1 of what is possible on Bitcoin. Trustless Computer shows that you can build a full DApp ecosystem on Bitcoin.
He expects that well see MakerDAO, Aave, Compound and other smart contracts deployed soon, which, if it works as he claims it will, would be a huge change for Bitcoin.
While the project has recieved coverage in other major crypto news outlets, Magazine hasnt verified their tech works as promised, and the extent to which you can integrate smart contracts with Bitcoin is debatable, so tread carefully.
The influx of NFTs and token minting on Bitcoin has shown the blockchain remains unable to scale to deal with increased demand, meaning the more popular it gets, the worse it works.
The Lightning Network is usually touted as the solution, but Nostr creator Fiatjaf noted it has been unable to cope with the recent fee spike. Channels are too fragile, it costs a lot to open a channel under a high fee environment, to run a routing node and so on, he wrote, stating that users instead had to rely on the centralized Lightning providers.
Greenspan believes that gradual progress toward scaling is the only safe solution to ensure Bitcoin remains bulletproof.
Weve seen Segway; weve seen Taproot. I mean, these are, these are good progressions and steady scaling. Which is whats best usually for a decentralized network of this size. You dont want to rush things because you might break them. As weve seen.
Read Also: Reformed altcoin slayer Eric Wall on shitposting and scaling Ethereum
Various parties, including StarkWare and blockchain researcher Eric Wall, have been investigating scaling Bitcoin using zero-knowledge (ZK) rollups, which is Ethereums plan to solve its very similar challenges.
But ironically, while the surge in demand caused by Ordinals has shown that further scaling is required, its also made it much less likely the community would agree to a new hard fork to enable ZK-rollups. After all, they voted for Taproot and look what happened?
I doubt that will ever happen, says Checkmate.
I am also skeptical of even a soft fork since the unintended consequences of the witness discount have woken everyone up to the risks of change.
The most engaging reads in blockchain. Delivered once a week.
Based in Melbourne, Andrew Fenton is a journalist and editor covering cryptocurrency and blockchain. He has worked as a national entertainment writer for News Corp Australia, on SA Weekend as a film journalist, and at The Melbourne Weekly.
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Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it? - Cointelegraph
Tudor Jones on Bitcoin: ‘I’ve Never Sat on a Horse That Long’ – Blockworks
Longtime trader and billionaire hedge fund manager Paul Tudor Jones told CNBCs Squawk Box that hes sticking with bitcoin despite the regulatory pressures in the United States.
From the beginning, Ive always said that I want to have a small allocation [of bitcoin], Jones said. Its the only thing that humans cant adjust the supply [of].
Im sticking with it. Im always going to stick with it, he added.
Bitcoin (BTC) came up as a hedge against inflation in Jones conversation with Aaron Ross Sorkin. The two were previously discussing how quantitative easing and flat interest rates lasted all the way through 2021. Jones said this policy contributed somewhat to the banking failures in 2023.
Anyone that was listening to our Fed at that point in time was probably doing exactly what these banks did extending maturities because they were being told that inflation didnt exist, and when it finally did come, it was transitory and rates were going to be low forever.
Of course, inflation wasnt transitory with the CPI reaching a 40-year high of 9.1% in June 2022. Bitcoins price sank as low as $18,999.95 on July 13, 2022, the day the June CPI report was released.
Notably, Jones said the strategy of buying bitcoin and gold as an inflation hedge may be over if prices begin to moderate.
Additionally, bitcoin isnt without its risks, according to Jones. He cited the US regulatory regime as a major thorn in the side of the worlds first digital currency.
Bitcoin has a real problem because in the United States you have the entire regulatory apparatus against it, Jones said.
CNBCs interview with Jones made news because he said theres a good chance that the US could be on the verge of a recession by the third quarter based on recent financial episodes.
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Tudor Jones on Bitcoin: 'I've Never Sat on a Horse That Long' - Blockworks
Can you recover stolen Bitcoin from crypto scams? – Cointelegraph
The process of recovering stolen Bitcoin (BTC) from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing, rug pulls and hacker attacks.
Although cryptocurrencies like Bitcoins decentralized and pseudonymous structure have some benefits, they also create major obstacles for recovering stolen funds. This article will delve into the various methods and potential avenues for recovering stolen Bitcoin and explore the important factors to consider in the process.
As already noted, there are many different types of decentralized finance (DeFi) scams, including phishing scams,rug pullsand social media scams. To trick and take advantage of gullible people, scammers use strategies such as impersonation, bogus websites and misleading investment possibilities.
These frauds have an enormous effect, leading to monetary losses, compromising personal data and diminishing confidence in the cryptocurrency sector. To avoid being a victim of fraud, it is crucial to be aware of these frauds and comprehend their strategies.
Related:DeFi Scams 101: How to avoid the most common cryptocurrency frauds
Due to the intrinsic properties of blockchain transactions, recovering stolen Bitcoin presents a number of difficulties. These transactions pseudonymity and anonymity make it challenging to track the flow of money and pin down the offenders.
Furthermore, jurisdictional issues and the decentralized nature of blockchain technology make the recovery process more challenging. Additionally, recovering the stolen Bitcoin is extremely difficult due to the technical challenges of locating and identifying stolen money.However, the avenues discussed below may help recover stolen BTC.
Victims of Bitcoin theft can report the occurrence to law enforcement organizations that focus on cybercrime. The likelihood of recovery is increased by collaborating closely with specialized task forces and specific cybercrime teams. Coordination across several jurisdictions is made possible by international collaboration and the presence of legislative frameworks, which speed up the recovery process.
Blockchain analysis is essential for retrieving Bitcoin that has been stolen. These methods and technologies aid in tracing the movement of money, locating addresses connected to the fraud, and spotting erroneous transactions.
Collaborating with cybersecurity companies experienced in blockchain investigation and forensic professionals improves the chances of finding and retrieving the stolen BTC. Untangling the complications of stolen Bitcoin and maybe recovering the funds for victims is made possible by combining technological know-how and investigation techniques.
The recovery of stolen Bitcoin depends heavily on exchanges and service providers. Authorities might start the recovery process by freezing the funds linked to the scam and working with reliable exchanges. To stop unauthorized transactions and improve user protection, exchanges must put more stringent security measures in place, including multi-factor authentication and strong Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Cryptocurrency scam victims may pursue compensation through civil litigation. To successfully navigate the legal process, it is crucial to work with legal professionals with experience in situations involving cryptocurrencies. Its crucial to keep in mind that civil action can be difficult and drawn out, and there might be difficulties in identifying and locating the con artists or recovering the stolen funds. Depending on the jurisdiction and applicable legislation, legal remedies may vary.
Related:How to mitigate the security risks associated with crypto payments
Prevention is the key to thwarting cryptocurrency fraud. People and organizations can better defend themselves from falling for such scams by increasing awareness and education about the hazards and typical fraudster tactics. Being a target of cryptocurrency scams can be greatly decreased by putting into use best practices for protecting Bitcoin holdings, such as using hardware wallets, updating software and exercising caution when doing online transactions.
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Can you recover stolen Bitcoin from crypto scams? - Cointelegraph
Bitcoin dips amid low liquidity, and EU states approve comprehensive crypto rules – CNBC
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CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sam Callahan, lead analyst at Swan Bitcoin, breaks down the cryptocurrency's performance this year.
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Bitcoin dips amid low liquidity, and EU states approve comprehensive crypto rules - CNBC
Bitcoin’s Realized Price on Cusp of Flashing Major Bullish Signal – CoinDesk
Bitcoin's (BTC) year-to-date rally of 63% may be the first milestone in its upward journey.
That's the message from bitcoin's realized price, which appears on track to exceed the realized price of long-term holders. Historically, this so-called bull cross has marked the end of bear markets and the onset of major price rallies.
Bitcoin's realized price is the average value of bitcoin supply calculated at the price at which coins were last moved on-chain. The long-term holder (LTH) realized price reflects the average on-chain acquisition price for coins held outside centralized exchanges and not moved for at least 155 days.
At press time, bitcoin realized price was $20,129, or just 3.5% short of the LTH's realized price of $20,845, which has been steadily falling since November, according to data tracked by blockchain analytics firm Glassnode.
"Looking at long-term holder realized price as well as realized price (aggregate cost basis of all market participants), they are nearing a bullish cross which has accurately signaled previous bear market bottoms," Blockware Solution's weekly newsletter dated May 12 said.
The chart shows the blue line representing the realized price could soon cross above the green line representing the LTH realized price.
Previous crossovers of the two, dated June 2019, May 2016 and Sept. 2012 paved the way for multi-year bull runs.
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Bitcoin's Realized Price on Cusp of Flashing Major Bullish Signal - CoinDesk
Bitcoin Price Prediction Is Bearish According to These Traders, But These Tokens Could Pump – Yahoo Finance
New York, NY --News Direct-- Finance News
After a roaring start to the year, Bitcoins momentum has sputtered in the past few weeks.
The worlds largest cryptocurrency by market cap broke through the key $30,000 price level briefly in April before falling back below it. Since then, Bitcoin has moved sideways and even downward. It now sits at just over $27,000.
As Bitcoin struggles to resume its momentum, traders are also looking at upstart tokens that some analysts think could deliver 10x or even 100x returns.
AiDoge, a new meme coin with AI utility, has raised more than $8 million in a crypto presale in just a few weeks. yPredict, an AI-powered crypto trading platform, offers a 70% return for early investors.
Several prominent crypto traders have weighed in on Bitcoins future, and their predictions are mainly bearish.
Trader @CryptoCred, who uses support and resistance levels to predict price movements, sees Bitcoins failure to breakout above $30,000 as a very bearish signal. Below $27,000, the next support level for Bitcoin is just below $20,000. In a tweet, @CryptoCred predicted thats where Bitcoin is likely to end up.
Another trader and analyst, @CryptoCapo_, has called an even more bearish low for Bitcoin. He has a price target of $12,000, calling Bitcoins recent bullish momentum the biggest bull trap ever. @CryptoCapo_ was one of a handful of traders to predict the crypto winter, so hes no stranger to being bearish on BTC.
Trading firm QCP Capital has also weighed in on Bitcoin, but the firms bearish prediction is more complex. According to QCP, Bitcoin is in wave 4 of a 5-wave Elliott wave pattern.
That means that Bitcoin could potentially reach a high of $31,850 - a price level it has not yet touched - before retreating sharply. QCP suggests that in wave 5, Bitcoin could retest its lows from last summer around $16,000 to $17,000.
While the specific price targets of these predictions differ, they all have one overriding theme in common: if Bitcoin cant break above $30,000 and move sharply upward from there, the token is likely to break down in spectacular fashion.
While many traders continue to watch Bitcoin, there are exciting developments happening in the altcoin market. Meme coins have been on a frenzied rise lately, and one of the most popular meme coins of all hasnt even launched on exchanges yet.
AiDoge is based on the ultra-popular shiba inu meme and is leveraging generative AI to help users create new viral memes. AiDoge users just need to enter a text prompt describing the meme they want to create, and the AI algorithm will take care of the rest.
AiDoge has gained an enormous following so quickly because it promises to make meme creation easier than ever. First-time memesters can bring their idea to life in seconds using this platform.
Plus, AiDoge enables users to mint their memes as NFTs. This is a major advantage because it allows creators to verifiably claim ownership over memes that go viral.
The project is also introducing a meme-to-earn rewards system. Users can vote on their favorite memes generated using AiDoge. Top-rated creators earn $AI, the projects native ERC-20 token. This encourages users to generate ever more clever and unique memes.
$AI plays a critical role in the AiDoge.com ecosystem. Users can stake it to earn daily credits, which they need to use the meme generation algorithm. AiDoges staking system encourages users to hold $AI for the long term and become prolific memesters.
$AI is available to buy on presale now. The AiDoge presale has raised more than $8 million since launch and is now more than 50% sold out.
So, investors have to hurry if they want to lock in the lowest price for $AI before it hits exchanges.
Visit AiDoge Presale
yPredict is another red-hot crypto token thats leveraging AI to build an exciting new platform. The project describes itself as an all-in-one AI ecosystem for developers, traders, quants and analysts.
The innovation of yPredict lies in using AI to predict the price of crypto tokens in the short term. Quants and developers can build their own predictive models using yPredicts technology. Then they can license those models to traders in the yPredict marketplace.
This approach has several advantages. Traders and analysts can pick and choose which models they want to use. Quants and developers can get paid for their work. The yPredict treasury grows with every subscription.
In addition to the predictive model marketplace, yPredict is developing a trading terminal thats packed with AI analysis features. The platform can automatically identify chart patterns and add technical indicators to charts. It can also monitor social sentiment and alert traders to trending tokens.
At the heart of yPredicts platform is the $YPRED token. This is used to pay for yPredict subscriptions as well as transactions in the yPredict model marketplace. Users can also stake $YPRED to share 10% of the revenue from every new yPredict subscription.
The project has attracted a lot of attention from traders, raising more than $1 million through its $YPRED presale.
During the current presale stage, $YPRED is priced at $0.07 - a 70% discount to the planned listing price of $0.12. So, early investors can lock in significant paper gains by joining the yPredict presale today.
Visit yPredict Presale
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
View source version on newsdirect.com: https://newsdirect.com/news/bitcoin-price-prediction-is-bearish-according-to-these-traders-but-these-tokens-could-pump-629100669
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Bitcoin Price Prediction Is Bearish According to These Traders, But These Tokens Could Pump - Yahoo Finance
Is Bitcoin (BTC-USD) Really a Viable Alternative to Fiat Currencies? – TipRanks
Is Bitcoin (BTC-USD) Really a Viable Alternative to Fiat Currencies? TipRanks
Is Bitcoin (BTC-USD) Really a Viable Alternative to Fiat Currencies? - TipRanks
Navigating the Volatility of Bitcoin Trading Strategies for Managing … – Eye On Annapolis
Bitcoin, the worlds first decentralized digital currency, has taken the world by storm. Its rapid rise in value and growing popularity have made it an attractive investment option for many individuals. However, Bitcoins volatile nature also makes it a risky investment. Navigating the volatility of Bitcoin trading requires knowledge, skill, and a good strategy. In this article, we will discuss some strategies for managing risk and maximizing profit in Bitcoin trading.
One way to navigate the volatility of Bitcoin trading is to use an online trading platform. A platforms sophisticated algorithms and advanced trading tools help users make informed decisions and manage risk effectively. Using a trading platform can help traders take advantage of market fluctuations and maximize their profits. To effectively invest in cryptocurrency, it is important to know aboutways of storing Cryptocurrency.
Bitcoins value can change rapidly, making it a highly volatile investment. There are several factors that can cause Bitcoins price to fluctuate, including regulatory changes, market trends, and media coverage. It is important to understand Bitcoins volatility before investing to avoid being caught off guard by sudden market changes.
A trading strategy is a plan for buying and selling assets based on specific criteria. Developing a trading strategy is essential for managing risk and maximizing profit in Bitcoin trading. A good trading strategy should take into account factors such as market trends, price movements, and risk tolerance. Traders should also set clear goals and targets for their trades to avoid making impulsive decisions.
Diversification is a crucial aspect of managing risk in Bitcoin trading. Spreading investments across different assets can help reduce the impact of market fluctuations. Traders can diversify their portfolios by investing in different cryptocurrencies or other assets such as stocks or real estate. However, diversification should not be used as an excuse for reckless investing. Traders should still conduct thorough research before investing in any asset.
Staying informed is essential for successful Bitcoin trading. Traders should keep up to date with the latest news and market trends to make informed decisions. Social media platforms such as Twitter and Reddit can provide valuable insights into market sentiment and emerging trends. Traders should also follow the regulatory developments in their country or region to avoid being caught off guard by sudden changes.
Stop-loss orders are an effective tool for managing risk in Bitcoin trading. A stop-loss order is an instruction to sell an asset when it reaches a certain price. This can help prevent losses in case the market suddenly turns against a trader. Stop-loss orders can also be used to lock in profits by selling an asset when it reaches a specific target price.
Emotions can have a significant impact on trading decisions, particularly in volatile markets like Bitcoin. Fear and greed can cause traders to make impulsive decisions that can lead to losses. Traders should learn to control their emotions and make decisions based on logic and analysis. Using tools like stop-loss orders and having a clear trading strategy can help reduce the impact of emotions on trading decisions.
Managing risk is crucial in Bitcoin trading. Traders should never invest more than they can afford to lose and should always have a clear risk management strategy in place. This can include diversification, setting stop-loss orders, and using leverage carefully. Traders should also be prepared for the possibility of sudden market changes and have a plan in place for managing losses.
While Bitcoins volatility can be a risk, it can also present opportunities for profit. Traders can take advantage of market fluctuations by buying assets at a low price and selling them when the price increases. However, this strategy requires careful analysis and a good understanding of market trends. Traders should also be prepared for the possibility of losses and have a clear exit strategy in place.
Bitcoin trading can be a profitable investment opportunity, but it also comes with significant risks. Navigating the volatility of Bitcoin trading requires knowledge, skill, and a good strategy. Traders can reduce their risk by using an online trading platform, understanding Bitcoins volatility, developing a trading strategy, diversifying their portfolio, staying informed, using stop-loss orders, controlling emotions, managing risk, and taking advantage of market volatility. By following these strategies, traders can maximize their profits while minimizing their risk in Bitcoin trading.
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Navigating the Volatility of Bitcoin Trading Strategies for Managing ... - Eye On Annapolis
DeFi Debt Tokens? They’re Outperforming Bitcoin and Ethereum in 2023 – Decrypt
Tokenized versions of real world assets, like commodities and real estate, have outperformed Bitcoin and Ethereum so far in 2023, according to a new report from blockchain analytics firm Nansen.
The report delves into the terrain of real world assets, or RWAs, and how they are being onboarded onto blockchains through various instruments. It also marks the debut of Nansens Real World Asset Index, which tracks 22 different governance tokens created on Ethereum.
Nansen used the price of BTC and ETH as benchmarks for the indexs performance. The RWA index, which had a total market cap of $335 million as of May 8, has outperformed the top two cryptocurrencies, with notable peaks in January and April.
Tokenization of commodities, real estate, art, and bonds has become a disruptive and trendy new way to manage these assets.
According to Nansen, theres been a significant uptick in interest in tokenized RWAs in 2023. The company noted that several important institutionsGoldman Sachs, Bradesco and Siemenshave been getting involved.
Although Nansen Researchs price index includes 22 specific protocols, it also offers tracks 40 different RWA protocolsa non-exhaustive list, the company said in its reportgrouping them in seven different categories: money markets, real estate, luxury goods, debt markets, infrastructure, carbon markets and commodity markets.
An important distinction this year, according to the report, is that real-estate and RWA securitization infrastructure do not dominate the marketas was the case pre-2021. Instead, debt market protocols have been especially popular.
Steady rise in activity over the past year shows an interest in debt market projects such as Maple Finance and Centrifuge, with five protocols in this category reaching the top 10.
Due perhaps to double digit yield opportunities offered by some of these protocols, and despite the ongoing bear market, interest by investors in real world asset markets is trending positive.
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DeFi Debt Tokens? They're Outperforming Bitcoin and Ethereum in 2023 - Decrypt
Buying Bitcoin (BTC), Crypto Should Face Same Rules As Gambling … – Bloomberg
Retail investing in unbacked cryptoassets like Bitcoin should be regulated like gambling because they are highly volatile and have no intrinsic value, an influential panel of UK lawmakers said.
The Treasury Select Committee, a cross-party group of members of Parliament, strongly recommended such treatment for trading of digital tokens in a report published Wednesday.
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Buying Bitcoin (BTC), Crypto Should Face Same Rules As Gambling ... - Bloomberg