SAN CARLOS, Calif.–(BUSINESS WIRE)–Today, Trustly announces its alliance with Coinbase as an integral part of its commitment to offer Canadians secure and simple account-to-account payments. With Trustly’s Open Banking Payments, Coinbase users can deposit and withdraw funds directly from their bank account from/to their crypto wallet. A robust regulatory framework combined with the world’s third-most crypto-aware nation, make Canada a perfect fit for alternative payment methods and innovative financial services. With Trustly, Coinbase users will easily connect their bank accounts to their Coinbase account, allowing them to add funds instantly or withdraw funds seamlessly using EFT or Interac payment rails. Popularity and demand for cryptocurrency options continue to grow in Canada; a survey by the Ontario Securities Commission indicates that over 30% of Canadians plan to buy crypto assets in the next year. Trustly is excited to continue to work with Coinbase on strengthening its offerings in Canada by enabling direct bank transfers over EFT later this year. By enabling use of the EFT network, users will be able to benefit from seamless deposits, withdrawals, and high-value deposit limits. “Trustly is thrilled to support Coinbase and its expansion into Canada. We believe our Open Banking platform will make investing in cryptocurrency more convenient and secure for Canadians. We are excited to see how our partnership with Coinbase, a leader in the industry, unfolds,” said Ross McFerrin, VP Enterprise Growth at Trustly. “We are excited to partner with Trustly to offer additional financial options for our Canadian customers to deposit and withdraw funds from our platform,” explains Nana Murugesan, VP International and Business Development at Coinbase. Murugesan also explained in an interview with BNN Bloomberg that partnering with Trustly was a strategic step in making crypto as accessible as possible for Canadian customers. About Trustly Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 and 2021 we processed over $42 billion in transaction volume in our global network. We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com. About Coinbase Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to send and receive Bitcoin easily and securely. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy. Contacts Andres Suay VP Marketing, Trustly Americas +1 (650) 649-8765 [email protected]

On July 28, Volatility Shares submitted paperwork for its Ether Strategy ETF. Analyst Balchunas is confident in an Ether ETF approval rate of 95%. Bloomberg’s senior ETF analyst Eric Balchunas said that on October 12, 2023, Volatility Shares will introduce the Ether Strategy ETF (Ticker: ETHU). It will be the first exchange-traded fund (ETF) to provide institutional investors in the U.S. with exposure to Ether. However, the US SEC has not yet approved Volatility Shares. On the other hand, Eric Balchunas thinks the prospects of approval are rather strong. On July 28, Volatility Shares submitted paperwork for its Ether Strategy ETF. Taking into account the required 75 days for approval, it is possible that it will be granted on October 12. All Eyes on U.S SEC Some of the world’s most prestigious financial institutions have entered the fray for Ether Futures exchange-traded funds. However, so far, no Ether Futures exchange-traded fund (ETF) has been approved for trading by the SEC as of yet. Bitwise has converted its Bitcoin Strategy Optimum Roll ETF application to an Ether and Bitcoin Equal Weight Strategy ETF. The rising interest in Ethereum Futures ETFs is highlighted by this fact. Ethereum Futures ETFs are more likely to launch than spot Bitcoin ETFs, analyst Eric Balchunas said earlier this month. According to Bloomberg, the chances of the US SEC approving a spot Bitcoin ETF this year have increased from 50% a few weeks ago to 65% now. Nonetheless, they predict a 75% chance of Ethereum ETF acceptance. Balchunas, on the other side, is confident in an Ether ETF approval rate of 95%. Highlighted Crypto News Today: Dubai Offers 90% Subsidy on Licenses for AI and Web3 Businesses

The crypto market’s volatility benefits tokens like OKB and Pomerdoge. While OKB is flying high by registering new network users, Pomerdoge is fast catching up and showing signs of trumping other cryptocurrencies and meme coins in the market. OKB’s (OKB) market cap increased by 1.87% after the bullish rally. Pomerdoge (POMD) gained momentum after the price rose to $0.008. Click Here To Find Out More About The Pomerdoge (POMD) Presale OKB (OKB) on a Bullish Trend After Recent Investment Announcement OKB didn’t have a great July. However, the tide turned for the better in August. With some interesting announcements and product updates, OKB recorded new users, and a sharp price rise. Experts believe that the network value to transaction volume ratio is highly encouraging. Thus, the bulls are in a strong position to push OKB to rally for an all-time high. Firstly, OKB’s investment arm announced a $1 Million Series A stake in Moonbox, a Hong Kong-based AI/Web3 startup. This news led to a sharp surge in OKB’s price. Later, the OKB team issued another announcement that the platform would headline the next TOKEN 2049 blockchain conference. Needlessly to say, OKB further strengthened its upward trend. The OKB token gained 143.9% in the last seven days to be priced at $48.05, at press time. Furthermore, the second announcement brought new network users, shooting its growth score to 22. Analysts believe that if the growth score continues, OKB will establish a new all-time high. However, buyers should push beyond the $50 psychological resistance before aiming for the actual resistance at $53.60. Though OKB has crossed the $49 mark, it hasn’t yet breached $50 after the crash in late April this year. So, even with many positives for OKB, the token’s bullish trend will deliver profits only when buyers can overcome the psychological resistance at $50. We’ll have to wait and see if this happens. Pomerdoge (POMD) Registers Price Rise – Gains New Investors in Presale Pomerdoge is the newest P2E game in the crypto market. It aims to offer a powerful network for users around the world, to connect with each other. Moreover, Pomerdoge plans to dethrone leading meme coins like Pepe, Shiba Inu, and Doge with its attractive offerings. To achieve this, Pomerdoge will rely on its ecosystem comprising Pomergame, Pomerplace, and exclusive NFTs. By releasing a unique collection of 7,777 NFTs in August and September, the platform is all set to add leading investors to its kitty. Furthermore, POMD, the native token and in-game currency on Pomerdoge, saw an upward price movement. POMD is currently priced at only $0.008. However, experts predict that the Pomerdoge token will grow by 4,000% in the next few weeks. Additionally, users who own the POMD token can earn a percentage of the revenue generated by the gaming platform. The earnings will be directly proportional to the number of Pomerdoge tokens with the investor. Furthermore, the platform promises more in-game rewards to users. Since Pomerdoge has passed the audit by Interfi Network, big-time investors are ready to make early investments and increase their profits. They plan to own substantial amounts of POMD tokens by the launch date in Q4 of 2023. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge

Another shocking discovery has rattled the crypto sector as Christian Peev, a 41-year-old US cryptocurrency investor has been found dead. Christian Peev’s Alleged Murderer Was A Friend According to Peev’s cousin, the crypto investor disappeared in early August, and growing increasingly worried, Peev’s cousin reported him missing to authorities on August 10, which prompted an investigation. The dismembered body of the American-Bulgaria investor was found days later by plumbers called to fix a blocked drain in Sofia, Bulgaria, who eventually discovered that it was pieces of a human body that caused the blockage. The remains were later identified to be Peev’s body, although parts of the body, like the head and bones were missing. These were found to be buried as the murderer could not flush them down the toilet. Following the discovery of the remains, a bartender, Vesco Valchinov has been named as the prime suspect in connection to the murder of Peev. Christian Peev was known to be highly recognized in top events and parties, where he met the bartender. According to sources, Vesco Valchinov and Christian Peev met at a bar about 5-6 years ago, and Peev being a formidable and knowledgeable crypto enthusiast introduced Valchinov to the world of cryptocurrency. Valchinov became the prime suspect in Peev’s demise as surveillance footage showed that both Valchinov and Peev were seen entering Valchinov’s residence on August 8, but Valchinov was the only one seen leaving his residence the following day. Forensics show that Valchinov allegedly killed Peev with a dumbbell in his residence. However, Valchinov was not the only one involved in the demise of Christian Peev. Konstantin Subotinov who was believed to be an accomplice to Valchinov was also arrested by authorities and later confessed that he helped Valchinov in disposing of the remains of Peev’s body by driving some of the parts to Vitosha to bury them. Valchinov apparently knew the authorities were onto him and he tried to lose his tail by fleeing to a hotel in Vitosha. But unfortunately for him, authorities tracked his phone and he was apprehended the following day. Could The Murder Be Money Related? Although the authorities and investigators believe that the murder of Christian Peev is money related, as Peev had amassed a considerable fortune from his crypto investments, jealousy has also been seen as a potential motivation for the murder of Peev. Investigators speculate that Valchinov might have been jealous of his friend Peev and the fortune he has built for himself. However, the investigation is still ongoing, and more details will be unveiled, as authorities tend to crack the case and figure out what led to this tragedy. Peev’s death marks the second crypto investor found murdered and dismembered in less than a month. In July, crypto influencer Fernando Pérez Algaba was found dead in Buenos Aires, Argentina. According to authorities, Algaba’s remains were found in a suitcase and his death is believed to be connected to a significant debt he owed.

The Cosmos (ATOM) and Polkadot (DOT) cryptocurrencies have been on a bearish run during the past 30 days, and as a result, a lot of investors have begun to diversify their holdings. However, another cryptocurrency has managed to capture a significant level of attention, Everlodge. Through this upcoming real estate investment platform, anyone will be able to get into luxury properties with as little as $100. Join us as we dive deeper into each project to see how far they can climb. Cosmos to reach between $10.17 to $11.26 in value by the end of the year Polkadot expected to climb to $6.64 at its maximum point Everlodge can surge by 10x from its current value Find Out How To Buy Everlodge (ELDG) Cosmos (ATOM) Dips In Value Cosmos (ATOM) as a cryptocurrency has gone in a downward direction and is showing bearish signs. Investors are now eyeing its current $8.58 price and wondering if it can actually surge in value. According to the Cosmos price analytical data, in the past week, it had a low point at $8.58. Its high point was $9.09. In addition, in the past 30 days, it dipped by 10.5%, and in the past week, it’s been down by 4.2%. Moreover, according to the on-chart data, it has a market cap of $2,508,978,448, a trading volume of $96,351,673, and is ranked 30th. Subsequently, based on the Cosmos price prediction, the cryptocurrency has the potential to reach between $10.17 to $11.26. Polkadot (DOT) Price Down on Monthly Chart The Polkadot (DOT) cryptocurrency, on the other hand, has also showcased entry into the red zone. As for its current value, the Polkadot crypto traded at $4.99 on August 4, 2023. During the past week, the cryptocurrency had its low point of value at $4.98, with its high point at $5.26. Moreover, the total decrease in the past month was by 4.1%, and in the past year, by 38.1%. As for its on-chart analytics, it has a market cap of $6,292,072,738, a trading volume of $108,032,424, and is ranked 12th. Analysts have taken all of this into consideration, and according to the Polkadot price prediction, it can reach between $5.99 to $6.64 by the end of the year. First, however, it needs to break past the $6 price barrier. Everlodge (ELDG) To Surge Up To 10x Everlodge has gained a high level of appeal in investor circles, and analysts are calling it the next altcoin that can surge by 10x. It’s an upcoming project that can make investments in real estate accessible to anyone from anywhere globally. Through the usage of the platform, anyone can make financial investments in hotels, vacation homes, and luxury villas on top of the blockchain. An NFT gets minted on top of the network, and then it’s split into smaller fragments. Here, anyone can buy even the most expensive villas. Instead of paying $3 million upfront, for example, they can just make an investment of $100, as it would get split into thousands of fragments. Moreover, unlike traditional platforms, because it’s based on the blockchain, it’s accessible globally. Subsequently, this significantly lowers the barrier of entry surrounding the process of diversifying with real estate. Everlodge will also feature a dedicated marketplace. Here, anyone will be able to invest in fractional real estate on the blockchain. They will be able to co-own anything and even get passive income. During the early stage of the presale, the ELDG token trades at just $0.01. Analysts have predicted that it can surge in value soon and, as a result, represents a solid opportunity for massive ROI. Find out more about the Everlodge (ELDG) Presale Website: https://www.everlodge.io/ Telegram: https://t.me/everlodge

Bitcoin (BTC) price has remained in a tight range of between $28K and $29K in the past few weeks. BTC outperformed the equities market S&P 500, in August. The popular analytics firm Santiment shared that the trading price of the world’s largest cryptocurrency, Bitcoin (BTC), has remained in a tight range of between $28K and $29K over the past few weeks. Yet, even with this bearish momentum, Bitcoin has outperformed the equities market S&P 500. The trading price of BTC experienced a slight recovery yesterday after reaching the weekly low of $29,088. In the first half of August, the trading price of Bitcoin held up with a surge of 1.0%, on the other hand, the S&P 500 experienced a decline of 3.3%. Even with the flat momentum, BTC has outperformed the S&P 500. However, the trading price of Bitcoin is still struggling to break its next resistance of $30K. Bitcoin (BTC) Price Analysis: 24-Hour Timeframe At the time of writing, bitcoin is trading at $29,168, with a decline of 0.57% in the last 24 hours. However, the trading volume of BTC has experienced an increase of 8.55%, according to CoinMarketCap. Bitcoin Trading Price Chart (Source: TradingView) The daily trading price chart shows that BTC is in bearish momentum, as the current price is trading below the 50-day exponential moving average (50 EMA). Moreover, according to the RSI indicator, BTC is in neutral and inching closer to the oversold zone. According to the data, if Bitcoin experiences bullish momentum, it will reach the nearest resistance of $29,500. If the trend continues, the price will break through the $30,000 mark and even advance to surpass $30,500. On the other hand, another drop may begin if BTC fails to break the nearest resistance of $29,500. Moreover, it will go all the way below the support level at $28,410, and if the bearish momentum continues, BTC will trade below the $28K mark. What do you think, Will BTC show a pump? Tweet to us at @The_NewsCrypto and let us know your thoughts.

The crypto space is on the verge of another potentially historic moment with the first Ethereum Futures ETF in the US. Volatility Shares, a pioneer in the ETF space, has announced its intention to launch the Ether Strategy ETF (Ticker: ETHU) on October 12, 2023. If all goes as planned, this could mark the first Ether based exchange traded fund (ETF) in the United States. First Ethereum Futures ETF Is Set To Launch In The US Volatility Shares has positioned the ETF around cash-settled Ethereum futures contracts trading on the CBOE. Notably, the ETF avoids direct investment in Ether itself. “The Fund is an exchange-traded fund that seeks to achieve its investment objective by investing its assets principally in cash-settled contracts referencing Ether… The Fund does not invest directly in Ether,” reads the SEC filing. Stuart Barton, the CIO of Volatility Shares, voiced his optimism, saying, “Volatility Shares successfully launched the first 2x Bitcoin-linked ETF (BITX) in July and believes that ETHU is the next logical step before turning our forces to spot markets.” Eric Balchunas, senior ETF Analyst for Bloomberg, weighed in on the audacity of Volatility Shares’ aggressive timeline: “VolatilityShares announcing they intend to list their Ether Futures ETF on Oct 12th (which would be a day or two ahead of the rest of pack (if the 75 days is adhered to).. they did same thing w $BITX”. When prompted on the likelihood of SEC’s approval, he remarked, “Well, there’s been no withdrawals so SEC looks to be okay with them … he’s probably just pushing the envelope like he did w BITX”. While Volatility Shares leads the pack, they’re not alone in this pursuit. A total of 13 heavyweight financial institutions, including names like Bitwise, VanEck, Vakyrie, Roubhill, ProShares, and Grayscale, have sought the US SEC’s blessings for their Ether Futures ETFs. However, as of now, the SEC hasn’t given its green signal to any. Will Ether Echo BTC’s 2021 Surge? Remarkably, the first Bitcoin futures ETF in the US was launched back on October 19, 2021. At that time, ProShares won the race for the first mover effect. And this has paid off. The total assets in Bitcoin futures ETFs accounts to $1.3 billion. Of that, nearly $1.1 billion is in the ProShares Bitcoin Strategy ETF (BITO). The second largest ETF is the ProShares Short Bitcoin Strategy ETF with $73 million. No other ETF has more than $50 million in assets under management. When the first Bitcoin futures ETF was launched, BTC was in the midst of the 2021 bull run. In the run-up to the futures ETF launch, BTC put on a 60% rally from Oct. 1 to Oct. 19, rising 60% to $66,970. In the next seven subsequent days, BTC saw a correction of about 14% before Bitcoin continued its rally to the all-time high near $69,000. Whether the ETH price will experience a similar euphoria as Bitcoin in 2021 remains to be seen. At least the environment is different. While BTC was in a full blown bull market, the crypto market is currently in a phase of stagnation, possibly before the start of a new bull market. However, without a doubt, the first Ethereum Futures ETF has the potential to be a catalyst for the ETH price. At the time of writing, ETH was trading at $1,826, just above the key support of the 38.2% Fibonacci retracement level.

The world’s largest exchange Binance announced on Tuesday, August 15, intentions to delist three tokens from its trading platform. According to the exchange’s official statement, it regularly conducts a periodic review of all cryptocurrencies and trading products on its platform, ensuring they are of the highest standards in order to protect its customers’ interests. This review is based on certain factors, including trading volume and liquidity, network stability, network security against attacks, and the project’s team commitment, among others. Based on the results of their latest reviews, Binance states the following tokens are lacking in compliance in relation to these factors: Sonm (SNM), Serum (SRM), and DFI.Money (YFII). Therefore, the exchange will be delisting all trading pairs related to these tokens at exactly 03:00 (UTC) on August 22, 2023. In addition, the order extends to other platforms affiliated with the exchange, including Binance Simple Earn, Binance Loans, Binance Gift Card, and Binance Pay. Albeit, the enforcement date varies for some of these platforms. Binance Delisting Leads To Heavy Losses For Tokens Following Binance’s announcement, Sonm (SNM), Serum (SRM), and DFI.Money (YFII) have all seen their value plunged into double-digit losses. According to data from CoinMarketCap, the SNM token is the largest loser of the trio declining by 79.09% in the last 24 hours. Meanwhile, SRM and YFII are down by 29.19% and 19.55%, respectively, over the last day. These losses are quite unsurprising, as delisting by any exchange is commonly interpreted by investors as a disapproval of the token. Considering Binance’s status as a key player in the global crypto space boasting over 150 million users, the exchange delisting a token can be quite detrimental, as seen above. At the time of writing, SNM is trading at $0.05924, while SRM and YFII are exchanging hands at $0.5053 and $584.63, respectively. Binance Connect Shuts Down In other news, Binance has decided to close down its regulated buy and sell service, Binance Connect, due to the deactivation of supporting card payments on the platform by its provider. This development was revealed on August 15 by the Biswap DEX via a post on X (formerly Twitter). Biswap also stated that the closure of Binance Connect was part of the exchange’s bigger goal of intensifying efforts on its core businesses. Related Reading: Bitcoin Price Key Indicators Suggest A Strong Case For More Losses Formerly known as Bfinity, Binance Connect was launched on March 7, 2022, and designed to function as a platform for crypto on-ramps and payment infrastructures. It supports over 50 cryptocurrencies and prominent payment services such as Visa and Mastercard.

El Salvador dollar bonds had the highest return among developing markets, at 70%. Now these bonds have been recommended or bought by well-known financial institutions. When El Salvador began accepting Bitcoin a few years ago, it drew criticism from prominent financial institutions. However, Bonds issued by the government of El Salvador have risen in value recently, and large financial institutions such as JPMorgan, Eaton, and PGIM can no longer afford to ignore this trend. El Salvador dollar bonds had the highest return among developing markets, at 70%. El Salvador’s 10-year bond rates hit 24% a year ago, placing it in line with other developing countries like Ukraine and Argentina. However, now these bonds have been recommended or bought by well-known financial institutions that are optimistic about their further price appreciation, such as JPMorgan Chase & Co., Eaton Vance, and PGIM Fixed Income. Significant Wager on Bitcoin President Nayib Bukele of El Salvador has placed a large wager on Bitcoin being the country’s legal currency in the year 2021. He has also proposed the unpopular but potentially lucrative “bitcoin volcano bonds.” The bond market of the nation was quickly deemed unstable by many major participants, who promptly issued downgrades. By coordinating two debt buybacks, Bukele has calmed the bond market’s most pressing concerns. He was able to effectively repay $800 million in debts, and he even hired an adviser who had experience working at the International Monetary Fund. Investors no longer need a premium of over 50% to hold Salvadoran government bonds instead of equivalent US Treasuries. The country’s banking on Bitcoin has largely paid off with a spike in tourism and much-needed global attention. Moreover, recently, Binance shared the news that it now has a complete license to do business in El Salvador. Highlighted Crypto News Today: Binance Shuts Crypto Payments Within One Year of Launch

VADUZ, Liechtenstein–(BUSINESS WIRE)–Bittrex Global released the following statement today after reaching a successful settlement with the US Securities and Exchange Commission (SEC) in relation to its 17 April charge against the company for allegedly operating an unregistered exchange in the US: Bittrex Global is very pleased to announce that, following submission of our motion to dismiss the SEC’s action against us in June, we have now reached a successful settlement. From the beginning, we have been optimistic and willing to work productively with the SEC to explain our position. We are delighted that we have been able to reach a settlement with the SEC and that both parties can avoid the effort and cost of litigation. To reach this speedy conclusion, the settlement agreement includes a $24 million payment, which will be paid by Bittrex Inc. (also known as Bittrex US), and not by Bittrex Global. Now the SEC has agreed to settle the case, with Bittrex Global neither admitting nor denying the allegations, the matter is fully behind us, and our attention can be completely focused on doing what we do best: providing our customers with the world’s most secure, innovative, and regulated exchange in the market. Oliver Linch, Bittrex Global CEO, said: “We are delighted that a settlement on these terms has been quickly reached. While it is good news for Bittrex Global, now is not the time for a victory lap. Instead, with this matter behind us, we can concentrate on building our vision for the future of crypto, as a regulated, mature, and sophisticated part of the wider financial ecosystem. That vision requires proper regulatory regimes that are fit for purpose, which is why Bittrex Global is proud to be regulated in Liechtenstein and Bermuda, two of the leading and most respected jurisdictions for regulatory oversight of crypto in the world. “Bittrex Global has made enormous investments to ensure that we do not accept US customers. We service clients and provide services exclusively outside the US. Market participants around the world, who are increasingly wary of having any connection to the United States given its regulatory uncertainty, should know that if they want to do business with a non-US regulated digital assets exchange, Bittrex Global is here for you. Bittrex Global will continue to lead the way in demonstrating that the future of crypto is secure, innovative, and regulated.” Andrew Michaelson, Partner at King & Spalding LLP, added: “We are proud to have advised Bittrex Global on this matter. What makes this result so unusual and gratifying is that our client, Bittrex Global, will put this matter behind it without paying a penny in settlement. We are thrilled with this result on behalf of our client.” Bittrex Global was founded upon the three core principles of security, innovation, and regulation, and takes great pride in its global reputation as one of the longest-standing and most compliant exchanges in the world. All Bittrex Global customer funds continue to be safe and accessible, and the company remains committed to providing customers with the most secure exchange in the market. Contacts Media Enquiries E: [email protected]

Shiba Inu (SHIB) layer 2 blockchain, Shibarium, will be launched today at 5.35 EDT. Shiba Inu price declined by over 2.64% in the last 24 hours. Toronto, Canada – The highly anticipated moment for Shiba Inu has arrived as blockchain enthusiasts gather at the Blockchain Futurist Conference 2023. Shiba Inu’s long-awaited layer 2 blockchain, “Shibarium,” is all set to make its public appearance today at 5.35 EDT. The excitement has been building ever since the official Shiba Inu Twitter account announced the upcoming launch of the Shibarium Mainnet. Investors are expecting that this breakthrough will help usher in a new era for the meme coin. Additionally, the launch of shib.io marked the dawn of Shiba Inu’s Metaverse. The Metaverse platform holds immense potential to confer utility on the SHIB token. A primary feature is the concept of ‘burning’ SHIB tokens through the Shibarium network, which would drive up the value of SHIB tokens. Further, analysts speculate that the functionality of the Shiba Metaverse might also find integration into the Shibarium testnet, presenting users with a cohesive ecosystem that bridges the virtual and blockchain realms. Shiba Inu (SHIB) Price Declining Despite the buzz and anticipation, the SHIB market response has been a mix of both enthusiasm and caution. In the past 24 hours, the Shiba Inu price has experienced a 2.64% decline. Still, the meme coin’s weekly and monthly performance continues to indicate a rising demand for SHIB. Recently, Shiba Inu’s price has been hovering around the $0.00001 range and has formed a solid foothold for bullish momentum. At the time of writing, Shiba Inu traded at $0.000009904 with a 24 hour trading volume of $446 million, climbing 42%. Shiba Inu (SHIB) Price Chart (Source: TradingView) According to the daily price chart, the price of Shiba Inu suffered a setback, resulting in negative sentiment. However, if the gradual ascent continues, the price will be inching closer to the $0.000011 resistance and even potentially reaching the $0.000013 level. If a bearish scenario triggers a pullback, the price falls to $0.00000758. The signs of an extended bullish rally emerge in the Shiba Inu (SHIB) price prediction. The Relative Strength Index (RSI) has moved into the neutral zone, currently standing at 65.28. Further, 1 billion SHIB tokens were burned this week, with the burn rate surging by more than 120% in the last 24 hours.

Dubai International Financial Centre (DIFC) will be issuing the licenses. Businesses can apply for subsidized business licenses by filling out a registration form. Dubai has begun granting commercial licenses to AI and Web3 businesses at a 90% subsidy. This is part of an effort to build an unparalleled hub of cutting-edge technology enterprises in the MENA region, Emerging tech center Dubai AI and Web 3.0 Campus has decided to subsidize licenses for businesses that want to establish a presence there. Dubai International Financial Centre (DIFC) will be issuing the licenses. This is an effort to attract skilled workers and investors from across the world. Technology such as artificial intelligence (AI) labs, training programs, supporting hardware, and accelerator programs are all a part of the campus’s pitch to potential occupants. Moreover, businesses that are interested in applying for subsidized business licenses must do so by completing a registration form. Attracting Crypto Firms Dubai has issued operating licenses to cryptocurrency exchanges, which has helped the city recruit both skilled workers and new businesses. Nomura’s crypto division, Laser Digital Middle East, was granted a business license by Dubai’s Virtual Asset Regulatory Authority at the beginning of August. Also, the Swiss business will begin providing trading and digital asset management in the area in the coming months, according to the announcement. Binance FZE, the Dubai branch of Binance, has also been granted a license from the Virtual Assets Regulatory Authority (VARA) of Dubai. In order to operate as an exchange and broker-dealer in Dubai recently. Binance FZE has received an operational minimum viable product license, the exchange said earlier. Thus, allowing it to provide services to qualified institutional and retail investors. Highlighted Crypto News Today: Shibarium Launch Today. How Will Shiba Inu (SHIB) React?

The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent institutional market participant. Data obtained from Lookonchain, a renowned on-chain analytics resource, has shed light on the ongoing selling spree by Voyager, a troubled asset manager currently navigating bankruptcy proceedings. This selling binge over the past four days has amounted to an astonishing 1.4 trillion SHIB tokens, equivalent to approximately $14.4 million. The cryptocurrency landscape has witnessed a noteworthy development as Voyager, amidst its financial restructuring, embarked on an extensive liquidation of SHIB tokens. Voyager’s Unloading Spree And Potential Implications On Shiba Inu Lookonchain’s data revealed the staggering magnitude of Voyager’s sell-off, raising questions about the motives behind this sizeable divestment. Amid speculation, it’s important to note that the asset manager has now depleted its SHIB holdings, as confirmed by Lookonchain’s report. This intriguing turn of events prompts speculation about the potential impact on SHIB’s trajectory. As Voyager completes its selling spree, market watchers are keenly observing the ramifications on SHIB’s value. Notably, SHIB has demonstrated a commendable performance over the last seven days, exhibiting a robust 5.9% rally now trading at $0.00000998 via CoinGecko. While the cryptocurrency faced a 2.4% slump in the past 24 hours, this transient dip may be attributed to broader market sentiments influenced by seemingly unrelated news. News circulating about potential downgrades within the banking sector might have inadvertently contributed to the 24-hour slump witnessed by SHIB. It’s worth acknowledging that seemingly unrelated developments can trigger ripples of uncertainty across financial markets, ultimately impacting various asset classes, including cryptocurrencies like SHIB. Such negative sentiments, although momentary, have the potential to trigger short-term pullbacks. Anticipating Price Rally Amidst Voyager’s Exit The revelation that Voyager has exhausted its SHIB holdings could potentially pave the way for renewed price momentum. With institutional selling pressure alleviated, the cryptocurrency could be poised to continue its impressive performance from the past week. As SHIB hovers around its current value of $0.00000998, investors and enthusiasts are cautiously optimistic about the prospects of a sustained price rally. Despite the recent slump, SHIB’s overall trajectory remains promising, supported by both its recent rally and the depletion of Voyager’s SHIB holdings. While the impact of institutional selling cannot be ignored, SHIB’s future gains may be bolstered by a reduced supply overhang. SHIB’s upcoming performance will undoubtedly be influenced by a complex interplay of factors, ranging from market sentiment to macroeconomic developments. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from The Currency Analytics

Binance prioritizes core products and discontinues the “Binance Connect” crypto payments service. Binance Connect enabled merchants to accept 50+ cryptocurrencies for payments. Binance, a major player in the cryptocurrency exchange arena, has declared the upcoming closure of its crypto payments platform, Binance Connect. The platform, previously named Bifinity, is set to be deactivated on August 16th. This action follows merely one year after its initiation in March 2022. The reason behind this step lies in Binance’s strategic choice to reposition its attention on core products, as affirmed by an official company statement. The Binance Connect service allowed merchants to accept payments in over 50 different cryptocurrencies. And major payment methods like Visa and Mastercard. Its goal was to assist traditional financial companies in becoming “crypto-ready”. What is Behind The Move? Meanwhile, The decision to shut down Binance Connect coincides with previous developments, such as Binance Australia suspending fiat services due to third-party issues, and German regulators rejecting the company’s request for a crypto custody license. Despite facing these challenges, it succeeded in obtaining a crypto broker-dealer license in Dubai. Moreover, it’s worth noting that the crypto exchange giant currently faces legal challenges from both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission. It is accusing it of operating an unlicensed exchange in the United States.

Bitcoin price moving lower below the $29,500 zone. BTC remains at risk of more downsides below the $29,000 support zone. Bitcoin is still trading well below the $29,650 resistance zone. The price is trading below $29,300 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $29,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and break the $29,000 support zone. Bitcoin Price Turns Red Bitcoin price failed to start a recovery wave above the $29,500 resistance zone. BTC started another decline from the $29,450 swing high. There was a clear move below the $29,250 level. The price retested the $29,100 support zone. A low is formed near $29,075 and the price is now consolidating losses. It is trading above the 23.6% Fib retracement level of the recent decline from the $29,450 swing high to the $29,075 low. Bitcoin is now trading below $29,300 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance near $29,250 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $29,250 level and the trend line. It is close to the 50% Fib retracement level of the recent decline from the $29,450 swing high to the $29,075 low. The next major resistance is near $29,360 and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com The first major resistance is now forming near the $29,500 level. The main resistance is still near $29,650. A close above the $29,650 resistance could start a decent increase toward the $30,000 resistance zone. Any more gains might set the pace for a larger increase toward $30,500. More Losses In BTC? If Bitcoin fails to clear the $29,360 resistance, it could continue to move down. Immediate support on the downside is near the $29,100 zone. The next major support is near the $29,000 level. A downside break below the $29,000 level might start another steady decline. In the stated case, the price could drop toward $28,400. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,100, followed by $29,000. Major Resistance Levels – $29,250, $29,360, and $29,500.

Ethereum price is moving lower below the $1,850 zone against the US Dollar. ETH could extend losses and trade below the $1,800 support. Ethereum is slowly moving lower below the $1,850 and $1,840 resistance levels. The price is trading below $1,840 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,835 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop further below the $1,800 support in the near term. Ethereum Price Turns Red Ethereum’s price struggled to recover above the $1,860 resistance zone. ETH remained in a bearish zone and extended its decline below the $1,850 level, similar to Bitcoin. There was a clear move below the $1,830 support and the price declined toward $1,800. A low is formed near $1,811 and the price is now consolidating losses. There was a recovery wave above the $1,820 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $1,854 swing high to the $1,811 low. Ether is now trading below $1,840 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,835 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,835 level or the trend line. It is close to the 50% Fib retracement level of the recent decline from the $1,854 swing high to the $1,811 low. The next resistance is near $1,840 or the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The first key resistance is near the $1,850 level. The next key resistance is near the $1,860 level. A close above the $1,860 level could start a decent increase toward $1,900. Any more gains might send the price toward the $1,920 pivot level, above which the price could rise toward the $2,000 zone. More Losses in ETH? If Ethereum fails to clear the $1,840 resistance, it could continue to move down. Initial support on the downside is near the $1,810 level. The first major support is near the $1,800 zone. If the bulls fail to protect the $1,800 support, there could be more losses. The next major support is near the $1,760 support level. Any more losses might send the price toward the $1,720 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,800 Major Resistance Level – $1,850

Cardano’s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term. ADA price is gaining bearish momentum below the $0.30 level against the US dollar. The price is trading above $0.288 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could start a recovery wave if there is a close above the $0.30 resistance. Cardano’s ADA Price Extends Losses In the past few days, Cardano’s price saw a fresh decline from well above $0.308. The price traded below the $0.300 and $0.288 support levels to move into a bearish zone, similar to Bitcoin and Ethereum. The price even declined below $0.280 and tested the $0.275 support. A low is formed near $0.2752 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low. ADA price is now trading below $0.288 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA/USD pair. On the upside, immediate resistance is near the $0.285 zone. The first major resistance is forming near the $0.288 zone and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low. Source: ADAUSD on TradingView.com The next key resistance might be $0.300. If there is a close above the $0.300 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone. More Losses in ADA? If Cardano’s price fails to climb above the $0.288 resistance level, it could start another decline. Immediate support on the downside is near the $0.275 level. The next major support is near the $0.262 level. A downside break below the $0.262 level could open the doors for a sharp fresh decline toward $0.235. The next major support is near the $0.220 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.275, $0.262, and $0.235. Major Resistance Levels – $0.285, $0.288, and $0.300.

WHITE PLAINS, N.Y.–(BUSINESS WIRE)–FRMO Corp. (the “Company” or “FRMO”) (OTC Pink: FRMO) today reported its financial results for the fiscal year 2023 ended May 31, 2023. Financial Highlights FRMO’s total book value as of May 31, 2023 was $284.1 million ($6.45 per share on a fully diluted basis), including $114.8 million of non-controlling interests. Book value for the same period, excluding the non-controlling interests was $169.3 million ($3.85 per share). This compares with total book value at the prior fiscal year end on May 31, 2022 of $314.3 million ($7.14 per share), including $132.9 million of non-controlling interests. Book value for the same period, excluding the non-controlling interests was $181.4 million ($4.12 per share). Current assets, comprised primarily of cash and equivalents and equity securities, amounted to $201.3 million as of May 31, 2023, and $223.8 million as of May 31, 2022. Total liabilities were $19.4 million as of May 31, 2023, and $23.9 million as of May 31, 2022, comprised primarily of securities sold, not yet purchased and deferred taxes. Annual net (loss) income attributable to the Company in the fiscal year ended May 31, 2023 was $(12,603,972) ($(0.29) per diluted share) compared to $2,945,877 ($0.07 per diluted shares) in 2022. For the three months ended May 31, 2023, FRMO’s net (loss) income attributable to the Company was $(20,050,797) ($(0.46) per diluted share) compared to $14,343,798 ($0.33 per diluted share) a year earlier. Net income attributable to the Company excluding the effect of unrealized (loss) gain from equity securities net of taxes for the three months ended May 31, 2023 was $(7,197,926) ($(0.16) per diluted share) compared to $4,014,188 ( $0.09 per diluted share) for the three months ended May 31, 2022. For the year ended May 31, 2023 this figure was $(6,382,222) ($(0.14) per diluted share) and $(1,621,363) ($(0.04) per diluted share) in the previous year. Net income (loss) attributable to the Company excluding the effect of unrealized gain (loss) from equity securities net of taxes is a measure not based on GAAP and is defined and reconciled to the most directly comparable GAAP measures in “Information Regarding Non-GAAP Measures” at the end of this release. Valuation of securities and cryptocurrencies are subject to change after May 31, 2023. The market value of several securities and cryptocurrencies might have changed substantially since that date. We look forward to finding new ways to expand our cryptocurrency mining operations. As of May 31, 2023 and May 31, 2022, the Company held a 21.80% and 21.88% equity interest in Horizon Kinetics Hard Assets LLC (“HKHA”), a company formed by Horizon Kinetics LLC and certain officers, principal stockholders, and directors of FRMO Corp. (“the Company”). Due to the common control and ownership between HKHA and the Company’s principal stockholders and directors, HKHA has been consolidated within the Company’s financial statements. The noncontrolling interest of 78.20% and 78.12% in HKHA has been eliminated from results of operations for the periods ended May 31, 2023 and May 31, 2022. Further details are available in the Company’s Consolidated Financial Statements for the fiscal year ended May 31, 2023. These statements have been filed on the OTC Markets Group Disclosure and News Services, which may be accessed at www.otcmarkets.com/stock/FRMO/filings. These documents are also available on the FRMO website at www.frmocorp.com. Annual Meeting Murray Stahl, Chairman and CEO, and Steven Bregman, President and CFO, will host the 2023 Annual Meeting of Shareholders (“Meeting”) on Thursday, September 7, 2023, at 3 p.m. Eastern Time, to be held at The Union League Club (The Mary Murray Room) at 38 East 37th Street and online via live webcast at: https://www.virtualshareholdermeeting.com/FRMO2023. Admission to the FRMO in person Annual Meeting is limited to stockholders who owned Common Stock as of the close of business on July 24, 2023, the record date, or their duly appointed proxies, and one guest. Proof of ownership of FRMO stock and valid government-issued photo identification must be presented to be admitted to the Annual Meeting. Each guest must also present valid government-issued photo identification. If your shares are held in the name of a bank, broker, or other holder of record, you must bring a brokerage statement or other proof of ownership (or the equivalent proof of ownership as of the close of business on the record date of the stockholder who granted you the Proxy). If your shares are held in certificate form, ownership will be verified by consulting the list of Registered Shareholders as of the record date. Registration will begin at 2:00 p.m. No cameras, recording equipment, electronic devices, large bags, briefcases, or packages will be permitted in the Annual Meeting. Dress code for the Union League Club is strictly enforced by the Club’s staff. For men: Traditional business attire, jacket is required for all men and equally formal attire for women. Condensed Consolidated Balance Sheets (in thousands) May 31, May 31, 2023 2022 Assets Current Assets: Cash and cash equivalents $ 38,077 $ 33,289 Equity securities, at fair value 159,729 187,386 Other current assets 3,539 3,083 Total Current Assets 201,346 223,758 Investment in limited partnerships and other equity investments, at fair value 70,656 82,630 Investments in securities exchanges 4,869 4,815 Other assets 1,815 2,177 Investment in Horizon Kinetics LLC 14,608 14,702 Participation in Horizon Kinetics LLC revenue stream 10,200 10,200 Total Assets $ 303,494 $ 338,282 Liabilities and Stockholders’ Equity Current Liabilities: Securities sold, not yet purchased $ 2,353 $ 2,573 Other current liabilities 354 212 Total Current Liabilities 2,707 2,785 Deferred Tax Liability 16,004 20,470 Mortgage payable 669 700 Total Liabilities 19,379 23,955 Stockholders’ Equity: Stockholders’ Equity Attributable to the Company 169,283 181,409 Noncontrolling interests 114,832 132,919 Total Stockholders’ Equity 284,114 314,327 Total Liabilities and Stockholders’ Equity $ 303,494 $ 338,282 (Components may not sum to totals due to rounding) Condensed Consolidated Statements of Income (Loss) (amounts in thousands, except share data) Three Months Ended Years Ended May 31, May 31, May 31, May 31, 2023 2022 2023 2022 (Unaudited) Revenue: Fees $ 737 $ 873 $ 3,222 $ 4,678 Equity (losses) earnings from limited partnerships and limited liability companies (685 ) 625 1,614 653 Unrealized (losses) gains from investments (12,614 ) 3,502 (13,661 ) (5,576 ) Other 402 (536 ) 4,046 141 Total revenue before unrealized (losses) gains from equity securities (12,159 ) 4,464 (4,779 ) (104 ) Unrealized (losses) gains from equity securities (52,374 ) 41,175 (28,368 ) 13,978 Total Revenue (64,533 ) 45,638 (33,147 ) 13,874 Total Expenses 343 250 1,837 1,380 (Loss) Income from Operations before (Benefit from) Provision for Income Taxes (64,877 ) 45,388 (34,984 ) 12,493 (Benefit from) Provision for Income Taxes (6,075 ) 257 (3,222 ) (774 ) Net (Loss) Income (58,802 ) 45,131 (31,762 ) 13,267 Less net (loss) income attributable to noncontrolling interests (38,751 ) 30,787 (19,158 ) 10,321 Net (Loss) Income Attributable to FRMO Corporation $ (20,051 ) $ 14,344 $ (12,604 ) $ 2,946 Diluted Net (Loss) Income per Common Share $ (0.46 ) $ 0.33 $ (0.29 ) $ 0.07 Weighted Average Common Shares Outstanding Basic 44,022,781 44,017,781 44,021,069 44,016,014 Diluted 44,022,781 44,034,588 44,021,069 44,034,813 (Components may not sum to totals due to rounding) About FRMO Corp. FRMO Corp. invests in and receives revenues based upon consulting and advisory fee interests in the asset management sector. FRMO had 44,022,781 shares of common stock outstanding as of May 31, 2023. For more information, visit our website at www.frmocorp.com. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, the general economics of the financial industry, our ability to finance growth, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed on our website www.frmocorp.com and on www.otcmarkets.com/stock/FRMO/filings. Information Regarding Non-GAAP Measures Net income attributable to the Company excluding the effect of unrealized gain (loss) from equity securities is net income attributable to the Company exclusive of unrealized gains (losses) from equity securities, net of tax. Net income attributable to the Company is the GAAP measure most closely comparable to net income attributable to the Company excluding the effect of unrealized gain (loss) from equity securities. Management uses net income attributable to the Company excluding the effect of unrealized gain (loss) from equity securities, along with other measures, to gauge the Company’s performance and evaluate results, which can be skewed when including unrealized gain (loss) from equity securities, which may vary significantly between periods. Net income attributable to the Company excluding the effect of unrealized gain (loss) from equity securities is provided as supplemental information, and is not a substitute for net income attributable to the Company and does not reflect the Company’s overall profitability. The following table reconciles the net income attributable to the Company excluding the effect of unrealized gain (loss) from equity securities to net income attributable to the Company for the periods indicated: Three Months Ended Three Months Ended Years Ended Yeras Ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 (Unaudited) (Unaudited) Amount Diluted earnings per common share Amount Diluted earnings per common share Amount Diluted earnings per common share Amount Diluted earnings per common share (000’s except per common share amounts and percentages) Net (Loss) Income Attributable to the Company Excluding the Effect of Unrealized (Loss) Gain from Equity Securities and Diluted Earnings per Common Share Reconciliation: Net (loss) income attributable to the Company $ (20,051 ) $ (0.46 ) $ 14,344 $ 0.33 $ (12,604 ) $ (0.29 ) $ 2,946 $ 0.07 Unrealized (loss) gain from equity securities (52,374 ) 41,175 (28,368 ) 13,978 Unrealized (loss) gain from equity securities attributable to noncontrolling interests (39,059 ) 30,543 (21,907 ) 9,397 Unrealized (loss) gain from equity securities attributable to the Company (13,315 ) 10,632 (6,461 ) 4,580 Tax benefit (provision) on unrealized (loss) gain from equity securities attributable to the company 463 (302 ) 240 (13 ) Unrealized (loss) gain from equity securities attributable to the Company, net of taxes (12,853 ) $ (0.29 ) 10,330 $ 0.24 (6,222 ) $ (0.14 ) 4,567 $ 0.10 Net (loss) income attributable to the Company excluding the effect of unrealized (loss) gain from equity securities $ (7,198 ) $ (0.16 ) $ 4,014 $ 0.09 $ (6,382 ) $ (0.14 ) $ (1,621 ) $ (0.04 ) Weighted average diluted shares outstanding 44,022,781 44,034,588 44,021,069 44,034,813 (Components may not sum to totals due to rounding) Contacts Thérèse Byars Corporate Secretary Email: [email protected] Telephone: 646-495-7337 www.frmocorp.com

Bitcoin price has mostly maintained the $29,000 level for the better part of the week. This points to low activity and momentum in the market, as well as a reluctance to engage in the digital asset at this point. One reason for this reluctance is the expectation that the Bitcoin price will see another crash before the bull market resumes. However, this crypto analyst explains why expectations may be dashed this time around. Bitcoin Price May Not See A Repeat Of 2019-2020 Before the 2020-2021 bull market kicked in, the Bitcoin price had seen a rollercoaster year. Mostly, the bear market had ravaged the digital asset causing it to fall more than 80% below its all-time high price at the time, and the crashes would continue well into 2020. Given the tendency of the Bitcoin price to follow previous trends, investors are understandably expecting a repeat of this trend. But pseudonymous crypto analyst “Tony The Bull” took to X (formerly Twitter) to use the ‘recency bias’ to explain why this may not happen. In the post, the crypto analyst used an analogy of a town that had not had a flood before, suddenly experiencing a flash storm rainstorm. Given that it had not happened before, businesses were caught unaware without flood insurance. However, going forward, the businesses begin to expect another flood and as such, they get flood insurance. The analyst explained that even though measures would be put in place to decrease the chances of such as flood happening again, people continued to operate with the knowledge of the impact of the flood. “It is the brain’s way to going with the most easily accessible information, which is the one that has most recently impacted you in a significant way,” the analyst said. “This is what’s called recency bias.” This recency bias, when applied to Bitcoin, shows investors are expecting a repeat of 2019-2020 because it is the most recent bear market. Hence, investors are operating with the knowledge of the most recent impactful event. “But much like the flood never happened before, we had a once in a lifetime pandemic. The probability is rather low we’ll see the same price action as 2019 and 2020,” Tony The Bull explains. BTC Price Sticking To Previous Trends? The analyst’s position is backed up by the fact that the Bitcoin price has continuously deviated from historical trends during this cycle. One example is that while the digital asset’s price did fall to around 70% below its $69,000 all-time high, it recovered to almost 50% below its ATH. However, a similar trend was recorded in 2019 when BTC’s price recovered above $11,000 toward the middle of the year. But by the end of the year, had lost about half of those gains. With the rest of the gains being wiped out in early 2020. If BTC does end up following the previously established trend though, then the digital asset’s price could fall as low as $12,000 before the next bull run begins. However, it is now a waiting game to see what ends up happening.

Bitcoin, the most valuable crypto asset, is at a critical juncture at spot rates if candlestick formation in the weekly chart is anything to go by. One analyst on X, formerly Twitter and NewsBTC Editorial Director Tony Spilotro, is sounding the alarm after picking out the bearish head-and-shoulder pattern in the weekly chart. Will Bitcoin Crack? Although the pattern is technically in the last phase of formation, if realized, it could have dire implications for Bitcoin bulls as it may push prices below a multi-month critical support line toward $18,000 or lower in the weeks ahead. Even so, the volatile nature of crypto and BTC prices means traders should adopt a wait-and-see approach until it prints out. As of August 15, Bitcoin is stable and within a broader uptrend from a top-down perspective. Notably, the coin is confined within the trading range established between June and July 2023, as visible in the daily chart. Despite the general optimism of a price recovery above July 2023 highs, BTC was moving sideways and held above the $28,000 support level but below the $31,800 printed in the last days of H1 2023. Any breakout above $32,000 with expanding volumes might induce demand, forming an anchor for price gains toward $35,000 or better. While the inability of sellers to drive prices lower is bullish, at least from where buyers sit, the potential formation of the head and shoulder pattern in the weekly chart casts a shadow of doubt over bullish prospects. Subsequently, traders remain cautiously optimistic since the candlestick arrangement, particularly in the weekly timeframe, suggests a vulnerability that could affect market sentiment and hopes for sustained growth. Rate Hikes And Halving: Which Will Be A Stronger Influence? Several fundamental factors further complicate the outlook for Bitcoin’s price in the coming days. Inflation is relatively high in the United States (versus the benchmark rate of 2%), which may prompt the Federal Reserve to resume interest rate hikes in the third and fourth quarters of the year. Despite relatively stable labor conditions and somewhat subdued inflation, the Fed’s recent rate hikes, now at the 5.25%-5.50% range, underscore the central bank’s commitment to curbing inflation and maintaining economic stability. The potential impact of the Federal Reserve’s tightening policy on crypto is reminiscent of the events in 2022 when Bitcoin cracked, falling from 2021 peaks to below $16,000 in late 2022. While Bitcoin’s potential to serve as a store of value, akin to gold, during times of crisis can be a possibility in 2023 and the future, analysts still view it as a “risky” asset. From a bullish lens, Bitcoin will halve its miner rewards from 6.25 BTC in 2024. This reduction may cause a supply shock, making BTC scarcer, and may support prices in the second half of next year.