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Bitcoin Soars to Recover $70,000, AI Predicts Ethereum and Rebel Satoshi Price Rising in Late 2024

Buckle up, cryptocurrency enthusiasts, because the market is taking off! After a brief dip, Bitcoin, the undisputed king of cryptocurrencies, recovered and reclaimed the $71,000 mark. This bullish rise is a welcome sign for investors who were starting to sweat after a period of profit-taking.

But Bitcoin isn’t the only major cryptocurrency it celebrates. Leading altcoin Ethereum and new memecoin Rebel Satoshi are also showing strong signs of life, with experts using artificial intelligence predicting a prosperous end to the year for both.

Bitcoin’s Resilient Recovery

Bitcoin’s recent volatility can be attributed to a classic case of profit-taking after hitting record highs last week.

However, the Federal Reserve’s decision to maintain interest rates and signal possible cuts for the end of 2024 injected a dose of optimism into the market. This and the weakening dollar fueled Bitcoin’s impressive return.

Analysts are cautiously optimistic, but one thing is certain: Bitcoin’s resilience is in sight.

Ethereum Boost After Dencun Update

While Bitcoin is in the spotlight, Ethereum, the innovative altcoin that powers decentralized applications (dApps), is quietly charting its own course. For good reason, Ethereum has consistently been ranked among the best cryptocurrency investments. Its unique blockchain technology allows developers to create secure and transparent applications, fostering a thriving ecosystem.

With the Ethereum Dencun upgrade just completed, experts are predicting even better things for Ethereum in the coming months.

The Dencun update on Ethereum introduces new data storage capabilities aimed at reducing the fee costs of its Layer 2 scaling solutions. The update also implements a fixed limit for validator input to manage the growth of the validator pool and maintain a efficient communication between nodes.

AI predicts a bullish end for Ethereum and Rebel Satoshi

The future of cryptocurrencies may be a murky picture, but artificial intelligence (AI) offers some intriguing insights. AI can predict potential price movements by analyzing large amounts of historical data and market trends. According to recent AI predictions, Ethereum and memecoin sensation Rebel Satoshi could see significant price increases by the end of 2024.

Rebel Satoshi: the renegade memecoin causing a sensation

The memecoin space, once dominated by Dogecoin, has welcomed a passionate new challenger: Rebel Satoshi ($RBLZ).

Inspired by the rebellious spirit of historical figures like Guy Fawkes and Satoshi Nakamoto (the pseudonymous creator of Bitcoin), Rebel Satoshi offers a unique combination of community, utility and investment potential.

Described by some investors as the best memecoin of the moment, Rebel Satoshi has a collection of 9,999 unique NFTs (non-fungible tokens) with exclusive digital art and collectibles. Owning $RBLZ grants users access to a vibrant marketplace, the opportunity to participate in missions and claim rewards, and the ability to stake their tokens for additional benefits.

Enter $RECQ: Feeding the Rebel Spirit

The Rebel Satoshi ecosystem is further driven by a second token, $RECQ, the native transactional token. Think of $RBLZ as the gold standard, the long-term investment that unlocks exclusive membership benefits. $RECQ, on the other hand, is the everyday currency used for purchases in the Rebel Satoshi universe, from arcade games and NFTs to in-game items and merchandise.

The future of cryptocurrencies: a multi-currency universe

The cryptocurrency market is evolving rapidly and it is increasingly clear that there is no “best cryptocurrency”. Instead, a diverse portfolio that includes established players like Bitcoin and Ethereum, along with promising altcoins and innovative memecoins like Rebel Satoshi, could be the key to long-term success.

With the rise of $RECQ fueling the Rebel Satoshi ecosystem and AI predictions predicting a bright future for Ethereum, the cryptocurrency landscape is full of exciting possibilities. As always, do your own research before investing, but one thing is for sure: the future of cryptocurrencies looks optimistic!

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Bitcoin cryptocurrency exchange Cryptocurrency news

London Stock Exchange Embraces Digital Assets by Accepting Crypto ETN Applications

In a pivotal announcement, the London Stock Exchange (LSE) announced its intention to accept Bitcoin and Ethereum exchange-traded note (ETN) applications, signaling a significant shift towards the integration of digital currencies into traditional financial markets.
LSE Announces Acceptance of Crypto ETNs

The launch of the Bitcoin (BTC) and Ethereum (ETH) ETNs on the LSE platform marks a crucial development for investors seeking regulated pathways into the rapidly evolving crypto sector. These instruments are designed to track the price movements of Bitcoin and Ethereum, creating a link between the dynamic prices of cryptocurrencies and the traditional stock market structure.

“The proposed Crypto ETN: (a) is physically backed, that is, without leverage; (b) has a market price or other measure of the value of the underlying that is reliable and publicly available”, highlights the focus on security and transparency of this innovative product. The fact sheet details also emphasize the protection of assets through cold storage, thereby increasing investor confidence in the sustainability and security of these offerings against online risks.

This decision by the LSE to adopt crypto ETNs reflects the evolving regulatory landscape and the growing acceptance of crypto assets in the financial sector. This comes after the UK Financial Conduct Authority (FCA) indicated its openness to cryptocurrency-related ETNs.

Mikkel Morch, founder of digital asset investment fund Ark36, spoke to Bitcoin.com News, stating that the rise in Bitcoin prices to all-time highs coincides with the FCA facilitating the introduction of crypto-connected exchange-traded products.

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Bitcoin cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news

Bitcoin Lightning Network Growth Increases 1200% in 2 Years

A report from Bitcoin-exclusive River Exchange suggests that increased use of Lightning will play a key role in Bitcoin becoming a better medium of exchange.

Bitcoin’s Layer 2 Lightning Network saw an estimated 1,212% growth in two years, with around 6.6 million transactions routed in August, a significant jump from 503,000 transitions in August 2021, according to data from the River exchange, exclusive of Bitcoin (BTC).

In an October 10 report, River research analyst Sam Wouters explained that the increase in routed transactions (which use more than two nodes to facilitate a transfer) came despite a 44% drop in the Bitcoin price and considerably less interest in online research.

River’s $6.6 million value for Lightning-routed transactions is a lower-bound estimate — the lowest possible value it could value. The company also obtained the August 2021 figure of 503,000 from a 2021 study by K33, formerly Arcane Research, adding that it could not evaluate flash transactions that were private or between just two participants.

As of August 2023, the average Lightning transaction size is approximately 44,700 satoshis or $11.84. River estimated that between 279,000 and 1.1 million Lightning users were active in September.

The company attributed 27% of transaction growth to the gaming, social media advice and streaming sectors.

River said the success rate for Lightning payments was 99.7% on its platform in August 2023 across 308,000 transactions. The main reason for failure occurs when no payment method is found that has sufficient liquidity to facilitate the transfer.

River’s data set consisted of 2.5 million transactions. The nodes in the River dataset represent 29% of the entire network capacity and 10% of the payment channels.

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Bitcoin cryptocurrency exchange Cryptocurrency news

Hong Kong, UAE and Thailand to launch joint CBDC projects by 2024

The central banks of Hong Kong, China, Thailand and the United Arab Emirates, together with the HMKA, are working on the development of mBridge, a cross-border central bank digital currency (CBDC) initiative.

The project is expected to launch in mid-2024. The initiative could provide an alternative to Swift’s dominant payments infrastructure, setting a precedent for further fragmentation of payments in other regions.

MBridge is coordinated by the Bank for International Settlements (BIS). The project will involve the participation of several major companies such as Tencent, owner of WeChat Pay, and the WeChat application.

The HKMA is also working on another CBDC-related project known as e-HKD. The digital currency has shown different use cases such as payments, deposits and investment scenarios.

Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority, added that e-HKD could be used in different areas, such as programmable payments, and in new regions, such as deposits and tokenized assets.

Currently the institution is carrying out tests with the participation of 16 large companies. In September, HSBC issued eHKD to around 200 students and staff at the Hong Kong University of Science and Technology Business School, with the aim of testing the use of the digital currency.

Two of the pilot participants, Standard Chartered and Fubon Bank, have begun investigating CBDC use cases. Fubon Bank has revealed its plans to work with Ripple (XRP) on a real estate tokenization pilot.

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Bitcoin cryptocurrency exchange Cryptocurrency news

Top US Cryptocurrency Exchange Coinbase Adopts an “International First Mindset”

Top US cryptocurrency exchange Coinbase has increased its focus on international markets amid regulatory uncertainty in the United States, according to the company’s vice president of international policy.

In a recent interview on Zebu Live, Tom Duff Gordon notes that international expansion is becoming “increasingly important” for the exchange.

“We want to work with everyone because we believe that the United States is a really important market. We need to achieve that [regulatory] clarity. It may not happen tomorrow, but I think we are on the right track to achieve it.

But look, there are only 300 million people in the United States. [Coinbase CEO] Brian Armstrong’s big vision… is to attract a billion people to cryptocurrencies. It is a question of economic freedom. Either way, we can’t just do this in America. That’s why we’re now adopting this “international first” mentality.

The U.S. Securities and Exchange Commission (SEC) sued Coinbase in June, accusing the company of operating as an unregistered stock exchange, broker-dealer, and clearing agency.

Last month, the company successfully registered as a cryptocurrency exchange and custody wallet provider with the Bank of Spain. It also gained approval from the Bermuda Monetary Authority (BMA) to offer digital asset perpetual futures to investors outside the US.