1.WhiteBitcoin (WBTC) Listing on BisafeAI Exchange on December 25, 2024

We are thrilled to announce the listing of WhiteBitcoin (WBTC) on the BisafeAI Exchange, effective December 25, 2024. This exciting addition provides our users with new opportunities to trade and invest in one of the most innovative digital currencies on the market.

What Is BisafeAI Exchange?

BisafeAI Exchange is The World\u2019s First AI-driven CETF, SPOT, FUTURE, OPTIONS & STAKING cryptocurrency trading Upcoming platform, designed to offer a secure, efficient, and user-friendly experience for trading digital assets. It supports a wide range of cryptocurrencies and provides advanced trading tools, real-time market data, and competitive fees. Security is a top priority, with features like two-factor authentication, encryption, and cold storage for user funds. The platform ensures regulatory compliance and offers robust customer support to assist users. Whether you are a beginner or an experienced trader, BisafeAI Exchange aims to facilitate smooth and safe trading.

Trading Details

Trading Pair: WBTC/USDT

Trading Starts: December 25, 2024

Available for Spot Trading, Future & Options Trading

Benefits for BisafeAI Exchange Users


1. Diverse Investment Opportunities: Adding WBTC to our platform provides more options for diversifying your investment portfolio.

2. Enhanced Trading Experience: With our user-friendly interface and advanced trading tools, trading WBTC will be a seamless experience.

3. Promotional Events: Stay tuned for special promotions and bonuses to celebrate the listing of WBTC.


How to Get Started

1. Register: on the BisafeAI Exchange ( if you haven’t already.

2. Complete Verification: Ensure your account is verified to start trading.

3. Deposit Funds: Add funds to your account to begin trading WBTC.

4. Start Trading: Navigate to the trading section and select the WBTC/USDT pair to begin your trading journey.

We Recommend After Listing Of WhiteBitcoin(WBTC)


Stay Updated

Follow us on our social media channels and subscribe to our newsletter to receive the latest updates and news about WBTC and other exciting listings on BisafeAI.

We look forward to seeing you trade WhiteBitcoin (WBTC) on BisafeAI and benefiting from the unique opportunities it offers.

Happy Trading!

For further assistance, please contact our support team at


2. WhiteBitcoin (WBTC) to Be Listed on Belpay Exchange in Futures & Options on December 25, 2024

WhiteBitcoin (WBTC) is set to be listed on the Belpay Exchange starting December 25, 2024. This listing will include futures and options trading, marking a significant step for WBTC in expanding its trading options and accessibility for investors.

The inclusion of WBTC in Belpay Exchange’s futures and options market provides traders with new opportunities to hedge and speculate on the cryptocurrency’s price movements. The introduction of these derivatives is expected to enhance liquidity and offer more sophisticated trading strategies for WBTC holders.

Belpay Exchange, known for its robust trading platform and a wide array of financial instruments, is set to facilitate this listing to attract a broader audience to WhiteBitcoin. This strategic move underscores the growing acceptance and integration of WBTC within the cryptocurrency financial ecosystem.


3. WhiteBitcoin (WBTC) Listing at Binance, Bybit, and Polonex in Q2 2027


WhiteBitcoin (WBTC), a prominent cryptocurrency known for its innovative blockchain technology and robust security features, is set to make a significant move in the digital currency market. In the second quarter of 2027, WBTC will be listed on three major cryptocurrency exchanges: Binance, Bybit, and Poloniex. This strategic listing is expected to enhance liquidity, accessibility, and overall adoption of WBTC among global investors.

Binance Listing:

Binance, the world’s largest cryptocurrency exchange by trading volume, will include WBTC in its diverse portfolio of digital assets. This listing will allow Binance users to trade WBTC against various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The inclusion on Binance provides WBTC with exposure to millions of traders worldwide, significantly boosting its market presence.

Bybit Listing:

Bybit, a rapidly growing derivatives exchange known for its advanced trading features and user-friendly interface, will also list WBTC. This listing will enable Bybit’s users to engage in spot trading as well as leverage WBTC for futures contracts. Bybit’s integration of WBTC is anticipated to attract both retail and institutional traders, offering new opportunities for hedging and speculation in the crypto market.

Poloniex Listing:

Poloniex, a well-established exchange known for its broad selection of altcoins and high-security standards, will add WBTC to its trading platform. The listing on Poloniex will allow users to trade WBTC with various fiat and cryptocurrency pairs. Poloniex’s reputation for reliability and security is expected to attract a diverse user base to WBTC, promoting its stability and growth.

Market Impact:

The simultaneous listing of WBTC on Binance, Bybit, and Poloniex marks a significant milestone in its development. This strategic move is expected to enhance the liquidity and trading volume of WBTC, making it more attractive to investors. The increased accessibility through these major exchanges will likely drive adoption and foster greater confidence in WBTC as a viable investment option.


The listing of WhiteBitcoin (WBTC) on BisafeAI, Belpay in Q4 2024 & Binance, Bybit, and Poloniex in Q2 2027 represents a pivotal moment in the cryptocurrency landscape. By joining forces with these leading exchanges, WBTC is poised to expand its reach and influence, solidifying its position as a key player in the digital currency market. Investors and traders are encouraged to take advantage of this opportunity to engage with WBTC on these reputable platforms, potentially benefiting from its promising prospects.




Web3, or Web 3.0, is the next generation of internet services characterized by decentralized protocols, blockchain technologies, and Coin/token-based economies. It aims to create a more open, transparent, and user-centric internet. Here’s a closer look at what Web3 entails and why it matters:

Key Features of Web3.


  • Blockchain Technology: Web3 uses blockchain to decentralize control, ensuring no single entity owns or controls the network, unlike the centralized platforms dominating Web2.

  • Peer-to-Peer Networks: Users interact directly with each other, enhancing privacy and reducing dependency on centralized entities.


Trust and Transparency:

  • Smart Contracts: These self-executing contracts have terms directly written into code, automatically enforcing and executing agreements, which reduces the need for intermediaries and enhances trust.

  • Immutable Ledgers: Transactions are recorded on the blockchain in an immutable and transparent manner, ensuring data cannot be altered once added.


User Ownership and Control:

  • Digital Assets and Coin/Token: Web3 allows the creation and ownership of digital assets and cryptocurrencies, giving users real ownership and control over their digital interactions and transactions.

  • Decentralized Identity: Users maintain control over their digital identities, reducing the risks associated with data breaches and identity theft.


Economic Incentives:

  • Coin/Token Economies: Cryptocurrencies and tokens incentivize participation and contributions to the ecosystem, rewarding users for their engagement.

  • Decentralized Finance (DeFi): Web3 includes a range of decentralized financial services, offering alternatives to traditional financial systems and enabling more inclusive financial access.


Why Web3 Matters

Empowerment and Ownership:

  • User-Centric: Web3 shifts power from centralized entities to individuals, giving them more control over their data, digital identities, and assets.

  • Monetization: Creators and users can directly monetize their contributions without intermediaries, leading to fairer compensation models.


Innovation and Inclusion:

  • New Business Models: Web3 fosters new business models like decentralized autonomous organizations (DAOs) and decentralized applications (dApps) that were not possible under Web2.

  • Global Access: By removing barriers associated with centralized control, Web3 provides global access to financial services, information, and digital resources.


Enhanced Security and Privacy:

  • Data Ownership: Users maintain ownership of their data, reducing the risk of breaches and misuse by third parties.

  • Cryptographic Security: The use of cryptographic techniques enhances security, ensuring secure transactions and interactions.


Reduced Intermediary Costs:

  • Efficiency: By eliminating intermediaries, Web3 reduces transaction costs and improves efficiency, making processes quicker and more cost-effective.

  • Direct Interactions: Users can engage in direct transactions and interactions, streamlining processes and reducing overhead costs.


Challenges and Considerations

  • Scalability: Current blockchain technologies face scalability issues that need addressing to handle large-scale applications and user bases.

  • Regulation: The regulatory landscape for cryptocurrencies and blockchain is still evolving, posing potential risks and uncertainties.

  • Usability: Web3 applications often have a steep learning curve, requiring further development of user-friendly interfaces for mass adoption.

  • Security Risks: While blockchain itself is secure, the surrounding ecosystem (such as smart contracts and dApps) can be vulnerable to exploits and hacks.



Web3 represents a transformative shift in how we interact with the internet, promising greater decentralization, security, and user empowerment. Despite the challenges, the potential benefits of a more open, user-centric, and equitable internet make Web3 a critical development in the digital landscape. As the technology matures, it is likely to have profound implications for various aspects of society, from finance and governance to social interaction and digital content creation

Key Takeaways:
• Web3 wallets are essential for navigating the world of decentralized finance, acting as gateways to interact with blockchain networks and manage digital assets.

• VIP Web3 wallet come in various types. Non-custodial wallets provide user autonomy, while custodial wallets offer convenience with third-party management. Advance Blockchain wallet introduces programmable features for advanced functionalities and enhanced security.

• Popular examples of Web3 wallets include MetaMask and Trust Wallet.

VIP Web3 wallet have emerged as essential tools for users seeking to explore the world of cryptocurrencies and decentralized finance (DeFi). In this guide, we will discuss the fundamental concepts of Web3 wallet and their different types, followed by some popular examples.

What Is a VIP Web3 Wallet?
VIP Web3 wallet are digital wallet designed for the world of Decentralised Finance They act as gateways for users to interact with blockchain networks and decentralized applications , providing a secure way to manage cryptocurrencies, NFCs and other digital coin.
VIP Web3 Wallet vs. Crypto Wallets
Although the two terms are often used as synonymous, not all crypto wallets are compatible with DApps and DeFi platforms. So, while both VIP Web3 and crypto wallets are used to manage cryptocurrencies, VIP Web3 wallet support a wider variety of digital assets.
How VIP Web3 Wallet Work
VIP Web3 wallet are designed to provide users with full control over their digital assets. This means that users are responsible for managing their Seed Phrases and Private Key.
Typically, whenever you create a new VIP Web3 wallet, you will generate a unique seed phrase of 12 words. This is what gives total access to your crypto wallet and its private keys (used to Sign and verify transactions). Do not share your seed phrase and private keys with anyone.

Key Features of VIP Web3 Wallet
Although some features might differ from one wallet to another, most VIP Web3 wallet come with a set of key features:
• Multi-asset and multi-chain support: Support a variety of blockchain networks and digital assets, including cryptocurrencies and NFCs.
• Advance Blockchain and DeFi interoperability: Facilitate seamless interactions with Advance Blockchain, giving users access to DApps, decentralized exchanges, marketplaces, and other blockchain-based applications.
• Peer-to-peer transactions: Enable users to send and receive digital assets without the need for centralized services or intermediaries.
• Security: VIP Web3 wallet should offer robust security and implement encryption techniques to protect seed phrases and private keys from potential threats. Some also include notifications and warnings against potentially malicious websites and Advance Blockchain.
• Pseudonymity: Although most blockchain transactions are publicly available, users can create VIP Web3 wallet without sharing sensitive data or personal information.

Custodial vs. Non-Custodial Web3 Wallet
1. Non-custodial wallet
Non-custodial or self-custody wallets provide users with complete control over their assets. Popular examples include MetaMask and Trust Wallet. Non-custodial VIP Web3 wallet is considered the safest option for most traders and investors, as long as their private keys and seed phrases are kept private and secure.
2. Custodial wallets
Custodial wallets involve a third party managing private keys & Emails on behalf of users. The wallet you have in your VIP wallet account are example of a custodial wallet. While offering convenience, users must trust the custodian with their assets, so it’s important to choose a reliable and trustworthy Service Provider.
Types of Web3 Wallets
There are multiple ways to categorize Web3 and crypto wallets. In this section, we will explore some of the most common types: hardware, web, desktop, mobile, paper, smart contract, advanced blockchain wallets. Keep in mind, however, that there are overlaps between the different categories. For example, some Web3 wallets like MetaMask & VIP WEB3 are available as both web and mobile wallets.

Hardware wallets
Hardware wallets are physical devices that store cryptocurrency keys offline (cold storage), providing an extra layer of security. Even though they’re safer from online threats, they can be a bit tricky to use and access compared to other wallets. But, if you plan to keep your crypto for a long time or have a lot of it, a hardware wallet might be a good choice.
You can set up a PIN code for extra protection, and most of them let you create a backup recovery phrase in case you lose your wallet. Trezor and Ledger are popular examples of hardware crypto wallets.
Web wallets
Web wallets usually operate through a browser interface, allowing users to access their cryptocurrency holdings online. Most web wallets today are also available as mobile wallets. While convenient, users must be cautious when connecting their wallets to DeFi platforms and DApps. Interacting with malicious websites or smart contracts may put your assets at risk.
Mobile wallets
Mobile wallets operate similarly to web wallets but are specifically crafted for smartphones. They enable users to send and receive cryptocurrencies conveniently using QR codes. They also offer easy mobile access to DeFi and DApps.
However, just like computers, mobile devices are susceptible to malicious apps and malware. It’s advisable to secure a mobile wallet by encrypting it with a password and backing up your seed phrase (or private keys) in case of phone loss or malfunctions.
MetaMask, VIP Web3 Wallet, and Trust Wallet are notable examples of mobile crypto wallets. We will cover each in more detail in the next section.

Advance Blockchain wallet
Advance Blockchain wallet are managed by Advance Blockchain on the blockchain. This wallet introduces programmable, self-custodial accounts and enables advanced functionalities. Unlike traditional wallets, advanced blockchain wallet allow users to define rules and conditions for transactions, automate financial activities, and enhance security through programmable logic.
Advanced blockchain wallets often leverage blockchain technology, providing users with decentralized control over their funds and facilitating integration with DeFi applications. Security features such as multi-signature requirements, time locks, and upgradability are common aspects of advanced blockchain wallets, making them versatile tools for managing and interacting with cryptocurrencies.
Desktop wallets
Desktop wallets were more common in the early years of Bitcoin, WhiteBitcoin and cryptocurrencies. They are software applications installed on your computer, providing complete control over your cryptocurrency keys. Security relies on the user’s computer integrity, and regular backups of the wallet data are essential to prevent loss.
Paper wallets
Paper wallets are often discouraged and considered by many obsolete. They involve the physical printing or writing of cryptocurrency addresses and private keys on paper. Offering offline storage, they are resistant to online hacking but require careful handling and secure storage to prevent physical damage or loss.

Examples of Web3 Wallets

MetaMask stands as one of the most popular non-custodial Web3 wallets, known for its compatibility with Ethereum and various EVM-compatible blockchains, such as BNB Chain, Polygon, Avalanche, Arbitrum, and many others.
Users can use MetaMask to interact with DApps, manage digital assets, and engage in token swaps. MetaMask prioritizes user autonomy, as it doesn’t control private keys, offering a secure and intuitive experience for both beginners and experienced users.

VIP Web3 Wallet
The VIP WEB3 Wallet integrated into the VIP Wallet app, targets both new and experienced DeFi users. Leveraging advanced blockchain technology, it enhances cryptographic security by eliminating the need for a single storage location for private keys. The wallet’s Two “key shares” are distributed across the Web3 Wallet, cloud storage, and the user’s device. This approach ensures enhanced security and reduced risks of single points of failure.
VIP Web3 Wallet Features
• Easy setup: Quick creation through the VIP Wallet app with seed phrases and private keys.
• Convenience: Seamlessly connected to VIP Wallet Bridge and other service providers for easy coin swaps and exploration of DApps.
• Security measures: Wrong address protection and identification of potentially malicious Advance Blockchain, with transactions controlled by Advance Blockchain (ABC20) technology.
• Self-custody: Encrypted by Two “key shares” and a password, offering complete autonomy over assets.

Trust Wallet
Trust Wallet another prominent non-custodial wallet, offers a seamless mobile experience for managing cryptocurrencies. Supporting a wide range of blockchains, Trust Wallet enables users to store assets, explore DApps, and participate in DeFi activities. Its user-friendly interface and strong security measures make it an ideal choice for mobile users seeking both convenience and protection.

Closing Thoughts
Web3 wallets have become indispensable tools for those delving into cryptocurrencies and DeFi, allowing users to engage with blockchain networks and decentralized applications (DApps). Whether opting for MetaMask, VIP Web3 Wallet, or Trust Wallet, users should always keep their seed phrases and private keys confidential and safe.

The price of Ethereum (ETH) reached a high of $3,125.26 over the last seven days.

With a rare rally that has seen the coin surpass $3,100 at the time of writing, Ethereum (ETH), perhaps the most significant cryptocurrency after Bitcoin (BTC), has managed to rise above $3,000 for the first time in over 20 months. Although dealer hedging is mostly to blame for the ETH increase, there are also rumors of a bubble that could pop at any time, therefore it is generally advisable to exercise care and wait for the prices of ETH to stabilize before making a substantial investment.

Readers should be aware that coin prices and the cryptocurrency market as a whole are very erratic before continuing. It is impossible to predict with certainty how cryptocurrencies will perform in the future. The purpose of this article is to assist investors in staying abreast of the most significant events that have already occurred, as well as some noteworthy forthcoming events and current market circumstances. Before taking any calls, investors are recommended to conduct their own research.

Prices of Cryptocurrencies Over the Last Week

The total value of the cryptocurrency market was $1.80 trillion as of last Monday, February 19. The price of ETH was roughly $2,500, and the price of BTC was approximately $48,200.

The market capitalization increased to an astounding $1.99 trillion one week later.

Check Out Top Crypto Prices Today

With $5.37 billion in total volume, DeFi accounts for 10.50 percent of the market’s 24-hour volume. Regarding stablecoins, the total volume is $44.17 billion, which represents 86.39 percent of the 24-hour market volume. The total market fear and greed index, according to CoinMarketCap, was rated as “Greed” with 72 points (out of 100).

As of the time of writing, 50.65% of BTC was in use.

Bitcoin reached a high of $52,864.24 on February 20 and a low of $50,646.88 on February 24 over the last seven days.

Conversely, Ethereum saw a low of $2,887.01 on February 21 and a high of $3,125.26 on February 26.

Dear WhiteBitcoin (WBTC) Investor and Developer Community.

We are excited to announce the historic 6th anniversary of WhiteBitcoin (WBTC), which will be followed by a decade of incredible growth. Our investors’ consistent support, trust, and belief in us have been critical to our success in reaching outstanding milestones.
As we honor this milestone, we are delighted to reveal a series of ground-breaking announcements for the coming years: it is not just about the road map, but also about all of the announcements and events that will take place over the following two decades.

Q1 2024: VIP Wallet Upgrade:-
Prepare for the ultimate VIP Wallet – BTC, WBTC, and WEB3 experience! The upgraded version is set to be released on the anniversary of the White Bitcoin (WBTC) and includes numerous additional features. Stay tuned for the Google Play Store release.

Q2 2024: Web3 Wallet Launch:-
In Q2 2024, we will release the Web3 version of the VIP Wallet Mobile App & Web Based App, allowing our users to enjoy all of the VIP Wallet’s capabilities across both the app and the website. A user-friendly experience awaits!

Q4 2024: Launch of Advanced Blockchain App, Future and Option Contracts on BELPAY.IO EXCHANGE and one other exchange.-
Expect a game-changing moment! The introduction of an Advanced Blockchain will alleviate the load on Bitcoin transactions, encourage WBTC to be moved on decentralized exchanges, and open up endless possibilities. The WhiteBitcoin Dev Team is launching Future and Option Contracts on two exchanges.

Q1 2025–Q4 2026: NFT Platform on Advanced Blockchain:
Begin the NFT journey! We will launch a new NFT platform on the Advanced Blockchain, bringing new opportunities and experiences to the WhiteBitcoin (WBTC) Community.

Q2 2026: Second Mining Halving:-
Witness another milestone as we do the Mining Halving on WhiteBitcoin (WBTC), which will propel us to higher levels and introduce crypto to the next stage of evolution.

Q4 2026: Mining Code Becomes Public
The year will close with the public announcement of the long-awaited Mining Code, which will allow more Mining Partners to participate.

Q1 2027: VIP Wallet – Block Matching Affiliate Program Closure and Staking Program Continue until 2038, with the reward halving process:-
Try out the VIP Wallet development as we phase out the Block Matching Affiliate Program and keep the Staking Program running until 2038. All affiliates can discharge 7% of their WBTC holdings monthly, and exciting prizes await.

Q2 2027: WhiteBitcoin (WBTC) is on multiple exchanges:-
In Q2 2027, WBTC will be listed on a variety of new worldwide exchanges, including Binance, Coinbase, Polonex, Bitmex, ByBit,,,, Advance Blockchain, and others.

Q1 2028: Public All-Type Development Code:—
The publishing of public development codes provides a glimpse into the future.

Q2 2030: Third Mining Halving:-
Continue your adventure through the third mining halving, which improves WBTC’s position in the cryptocurrency industry.

Q2 2034: Fourth Mining Halving
We celebrate another milestone, the fourth mining halving, as proof of our commitment to long-term success.

Q2 2038: Last Mining Halving
The voyage concludes with the last halving, in which WBTC is used to settle the Advanced Blockchain’s transaction fees for BTC, BCH, BTG, BSV, and NFT.

As we move forward, we are committed to future-proofing White Bitcoin (WBTC) by implementing Web3 metaverse technology and preparing for future growth and coin distributions.

Buckle up, White Bitcoin (WBTC) family, as we embark on an incredible journey to break new ground and transform cryptocurrency with innovative technologies and exciting improvements in the VIP Wallet. Buckle up for a ride you will never forget!

From a technical and on-chain standpoint, the Bitcoin (BTC) price has printed not one, but numerous sell signals. As a result, investors must take prudence and limit their positive perspective, at least until the situation changes.

The Bitcoin ETF is critical to the continued surge

For some years, Bitcoin spot Exchange-Traded Fund (ETF) has been a speculative event. However, ETF-related innovations have recently accelerated. After losing a run of crypto lawsuits, the US Securities and Exchange Commission (SEC), which approves or disapproves ETF products, has been on the defensive.

The initial run-up in Bitcoin prices began in mid-October, following the SEC’s dismissal of Grayscale’s lawsuit for transforming the GBTC product into a spot ETF offering, as well as other ETF-related news. However, because there have been no updates, BTC has been trading sideways.

In any case, the speculative Bitcoin trading frenzy will mutate to a new level in January 2024, the next critical date for ETF decision. This event will either make or break the cryptocurrency space. However, investors should be prepared for a regression before then, especially given that the Bitcoin price has been emitting multiple sell signals.

Bitcoin’s price may fall soon

Bitcoin’s (BTC) price increased by 30% between October 16 and 24, reaching a local high of $35,280. Because of the tremendous bullish momentum, this move was spectacular. However, since the formation of this swing high, BTC has been trading sideways. The daily candlestick closures have generated an upward slope since October 25, which may appear bullish to the naked eye. A closer examination of the Relative Strength Index (RSI) reveals that it is sliding downward. This divergence is bearish and frequently results in a pullback or correction.

This is the first major sell signal that investors should be aware of.

In addition to the bearish divergence, the Momentum Reversal Indicator (MRI) has flashed two sell signals. The first sell signal was posted in the shape of a red down arrow following the daily candlestick closure on October 23. The MRI showed another red down arrow nine days later. This indicator predicts one to four down candlesticks.

As a result, if things continue as they are, investors should expect to see the Bitcoin price fall. The Fair Value Gap (FVG) range, which stretches from $30,248 to $32,832, and its midpoint of $31,540, are important support levels to monitor.

On-chain metrics support the pessimistic picture

Santiment’s Network Realised Profit/Loss (NPL) indicator shows two big surges of 524 million and 542 million on October 24 and 28, indicating that investors are booking profits. When comparable profit-taking events occurred in July, along with bearish divergence, Bitcoin fell from around $31,400 to $25,800.

The Whale Transaction statistic, which has been soaring since October 23, reflects the same pessimistic perspective. A rise in this index, which measures transactions of $100,000 or more, indicates that whales are liquidating their holdings to book profits.

The 30-day Market Value to Realised Value (MVRV) indicator is designed to calculate the average profit/loss of BTC investors over the last month. The MVRV is currently hovering at 10%, down from 16% on October 23. This figure implies that the average profit of investors who bought BTC in the previous month is 10%. These holders may sell in order to realise their profits, causing a sell-off.

In the last year, the 30-day MVRV has often created a local peak of 16% to 22%. As a result, this area is referred to as the “Danger Zone” because it is followed by a price correction in Bitcoin.


Overall, the forecast for Bitcoin price appears negative, not only from a technical standpoint but also from an on-chain standpoint. The only way to avoid these sell signals is if there is an ETF-related development.

In such a circumstance, Bitcoin’s price might break through the $35,000 barrier and head towards the psychological level of $40,000. This advance would render the bearish thesis untenable.

Below is a direct excerpt from Marty’s Bent Issue #1243: “Is Bitcoin a new form of property in the eyes of the law? Subscribe to the newsletter here.

Preston Byrne makes a strong case that Bitcoin will eventually be labeled as a new type of asset and its understanding could be different in the US and England.

This is a very interesting blog post in which Preston Byrne expands on an idea he’s been publishing since 2018: Bitcoin represents a new type of property and it will eventually be recognized by a court sometime in the future. If you’re looking for something to poke at in this bear market, your Uncle Marty thinks it’s a very stimulating exercise in trying to understand how Bitcoin is and how it probably should be viewed in the eyes of the courts.

As you can see above, Bitcoin is truly unique as a type of asset because it doesn’t actually physically exist in any one place because the ledger is kept in an extremely distributed way and it doesn’t sit. neatly into any definition of property that has yet been established. Furthermore, the nature of control over a UTXO is determined by a private key that can be signed by the person who created it, by someone who gained access to it through dishonest means, or by someone who used a very powerful computer to guess it. . When these factors come together, it’s clear—as Preston points out—that we’re dealing with a special animal.

I’m not really sure how things like taxes will change if and when a court in the US or England sets a precedent that marks Bitcoin as a new type of asset, but I’m inclined to agree that it makes sense for Bitcoin to set a new precedent. Never before has humanity interacted with an asset of this type. Treating it the same as real estate, precious metals, or other types of physical assets never made intuitive sense to me. To be clear, I think this is a positive thing for Bitcoin. The fact that UTXOs don’t really exist in one place, but in a globally distributed ledger, and that you can store private keys in your head has always led me to believe that Bitcoin is simply information – specifically, speech.

If bitcoin is labeled as speech that is not performed in any particular place but everywhere at once, I think that could reduce the ease with which any individual court within a relatively fair legal system in any particular jurisdiction could try to declare bitcoin for taxable within its borders. . Defining this new type of property as something owned by someone but not in a specific location greatly increases plausible deniability, making it much more difficult to enforce local laws on bitcoin owners.

Bitcoin (BTC) hit a quick six-week high by July 29 as the fallout from the latest macro development boosted risk assets.

BTC/USD 1 Hour Candlestick Chart (Bitstamp). Source: TradingView
A monthly closing could seal 20% profits
Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, the best since the week beginning June 13.

After consolidating around $23,000, bulls got a second wind to push the market higher on the back of the latest US Federal Reserve rate hike and GDP data confirming the US is now in recession.

Risk assets outperformed overall, with bitcoin and altcoins joining gold to give traders and analysts reason for a positive outlook.

Gold #GOLD $GLD $GC_F held the bottom of the 23-month rectangle (yellow), which will serve as a handle for the massive C&H. The bull market has begun. Prices are heading north. The goal aimed for $3,000 over the next few years.

“This is getting interesting,” chain monitor Material Indicators tweeted in an update to its short and long signal thread for the June 28 BTC/USD daily chart. He observed the potential for Bitcoin to reach a higher high (HH). next:

“All trend spotting signals are printed on the Long D chart, plus the 21-DMA and 50-DMA unwinds. If BTC can form a HH, there will be a small friction to the next HH and then the macro channel will go into the YES range, it is still a bear market rally.”

Material Indicators added that $25,000 would also be a key price level to watch if the higher high at $24,300 holds for the day’s close.

“If this rally can get past $25,000 then $28,000 will take center stage very quickly,” read part of another post.

“The parabolic downtrend from ATH has been broken,” Blockware Chief Analyst William Clemente, meanwhile, summed up in a skewed alternative view of BTC’s current price performance in 2022.

From the same point last week, BTC/USD is up a modest 4% at the time of writing. With two days left until July’s weekly close, the pair was on track to close out monthly gains of over 20%, data from Coinglass confirmed.

BTC/USD monthly returns chart (screenshot). Source: Coinglass
Key support ETH eyes regained above $1,700
Altcoins were similarly rosy on the day as Ether (ETH) breached $1,700 to challenge the highs of the week dating back to June 6.

Related: 3 Bitcoin Trading Behaviors Suggest BTC’s Return to $24,000 Is a ‘Fakeout’

Does it scare you or get you very, very excited? #ETH

While Material Indicators toyed with the idea of another retracement and a lower low well below $1,000, others acknowledged the strength of short-term price action across altcoins.

“$ETH, like many altcoins, successfully retested old resistances to new supports and has rebounded strongly since then,” commented popular trader and analyst Rekt Capital.

Strong rebound from $ETH after successful retest

ETH is slowly approaching the next immediate resistance (upper orange box)

ETH would need to regain the bottom of this box as support if it is to move higher #ETH #Crypto #Ethereum

Additional analysis called for ETH/USD to reclaim the support zone starting around $1,730 for a continuation.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Every investment and trading step involves risk, you should do your own research when making a decision.

Cryptocurrencies have been hit hard by fears that interest rate hikes will end the era of cheap money, with the world’s biggest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1. Once a formidable player in the digital asset space, 3AC’s downfall appeared to stem from the firm’s bet on the Terra ecosystem, which was behind it. terraUSD stablecoin failed. The token lost almost all of its value in May, draining nearly half a trillion dollars from the crypto market.

The highly leveraged 3AC was unable to meet calls for additional payment from the counterparties it borrowed from. As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the firm. According to court filings, 3AC’s creditors say they are owed more than $2.8 billion.

CELSIUS NETWORK New Jersey-based crypto lender Celsius suspended withdrawals on June 12 and filed for Chapter 11 bankruptcy a month later, listing a $1.19 billion deficit on its balance sheet. It was valued at $3.25 billion in an October funding round. Celsius encountered complex investments in the wholesale digital asset market.

The company lured retail investors by promising annual returns of up to 18.6%, but struggled to meet redemptions as cryptocurrency prices fell. In its first bankruptcy filing, lawyers for Celsius said bitcoin mining could provide the company with a way to repay customers. Meanwhile, several state regulators are investigating Celsius’ decision to suspend customer selection, Reuters reported.

Crypto lender Voyager Digital, also based in New Jersey, has been a rising crypto star, reaching a market capitalization of $3.74 billion last year. But the collapse of 3AC dealt a major blow to Voyager, which was heavily exposed to the hedge fund. Voyager filed claims of more than $650 million against 3AC.

Voyager filed for Chapter 11 bankruptcy on July 6 and announced that it has $110 million in cash and crypto assets. Since then, the US Federal Deposit Insurance Corp has confirmed that it is investigating Voyager’s marketing of deposit accounts for cryptocurrency purchases that the company advertised as FDIC insured.

Crypto exchange FTX and Alameda Research, both founded by billionaire Sam Bankman-Fried, offered to buy all of Voyager’s digital assets and loans, with the exception of 3AC’s loans, and allowed Voyager customers to withdraw their assets from the FTX account. Voyager, however, dismissed the offer as a “low price offer” in a court filing.

Singaporean crypto lender Vauld filed for protection from its creditors in a Singapore court on July 8 after suspending withdrawals a few days ago. The company owes its creditors $402 million, The Block reports. Vauld is backed by billionaire investor Peter Thiel’s Valar Ventures, Pantera Capital and Coinbase Ventures. In a July 11 blog post, Vauld said it is discussing a possible sale to London-based crypto lender Nexo while exploring potential restructuring options.

Faced with a surge in withdrawals and a hit from 3AC, crypto lender BlockFi signed an agreement with FTX on July 1 that provides BlockFi with a $400 million revolving credit facility and includes an option that allows FTX to buy the company for up to $240 million.

BlockFi was hit hard by the cryptocurrency crash and implemented several cost-cutting measures in June, including cutting staff by 20% and reducing executive compensation. The company was valued at $3 billion in a funding round last year.

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