Can Ethereum (ETH) Price Reach $2,500 This Week?

Leonardo Perez
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Can Ethereum (ETH) Price Reach $2,500 This Week?

The price of Ethereum (ETH) outperformed Bitcoin (BTC) last week as the introduction of Blackrock’s Spot ETF generated excitement across the pioneering smart contract ecosystem. On-chain data readings reveal that a group of price-sensitive Ethereum whales added $210 million worth of ETH to their holdings over the weekend. Technical analysis indicators point to key resistance areas to watch as bulls look to force a move above $2,500.

Ethereum (ETH) price outperformed Bitcoin (BTC) last week as Blackrock’s spot ETF filing raised hopes of ETH hitting a new peak in 2023 above $2,500. On-chain analysis highlights how corporate ETH investors positioned their trades for the week ahead.

Crypto Whales Bought $210 Million Worth of ETH Over the Weekend.

Ethereum price rose above $2,000 on Thursday, November 9, after BlackRock confirmed its plans to launch an Ethereum spot ETF in a filing on NASDAQ. On-chain data shows that a group of large, price-savvy institutional investors spent the weekend buying millions of dollars’ worth of ETH, likely in response to the bullish news event.

The group of whales with balances of (1,000 to 100,000 ETH) had an initial balance of 13.98 million ETH on November 9. But as of the close of Sunday, November 12, they had increased their accumulated holdings to 14.08 million ETH.

This implies that the whales added 100,000 ETH to their balances. When valued at the current price of $2,100, this implies that whales invested a whopping $210 million over the weekend.

The Whales Wallet Balances metric tracks changes in the number of coins held by large corporate entities and high net worth investors. When it increases, it means that the whales have made new investments to accumulate more coins.

The whales stopped their month-long selling frenzy, just as the filing of the Blackrock ETH ETF was announced on November 9.

Notably, rather than FOMO instantly participating in the rally, it appears that strategic whales sought to avoid buying at the top last week. Instead, they had waited for the price of ETH to pull back, before swooping in to accelerate the accumulation of $210 million over the weekend.

Typically, when crypto whales make such large purchases amid a price rally, it is a clear indication that they are positioned for prices to reach new peaks. If this thesis holds, ETH investors can anticipate a move towards the $2,500 range in the coming week.

ETH Price Forecast: Bulls Force Another Jump To $2,500 This Week

Last week, Ethereum price retreated as it approached its 2023 high of $2,140. However, the on-chain data discussed above illustrates how whales capitalized on the pullback to accumulate $210 million. If retail investors also hold on to the buying spree, ETH price could break that psychological resistance level and approach the $2,500 level.

On the other hand, the bears could reverse Ethereum’s price rally if the bulls fail to defend the main support territory at $1,905. However, losing that support level could cause ETH price to spike towards the 200-EMA of $1,791.

According to CryptoPredictions, Ethereum started November 2023 at $1,816,803 and is forecast to end the month at $1,539,973. During November, the expected maximum price of ETH is $2,298,719 and the minimum is $1,539,973.

Similarly, the ETH price for today (13.11.2023) is forecast to be in the price range of $1,741,940 – $2,561,677. Ethereum price is expected to end at $2,049,341 today.

By Leonardo Perez

Chinese Hackers Target Cryptocurrency Investors with Fake Skype, And Other News

Audy Castañeda
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Chinese Hackers Target Cryptocurrency Investors with Fake Skype, And Other News

The fake Skype app is being widely distributed on the Internet in China, the SlowMist security team has discovered.

As many international markets are inaccessible within China due to local regulations, bad actors are actively exploiting this gap, flooding the market with phishing apps targeting crypto investors.

According to a blockchain security company, SlowMist, a group of Chinese scammers recently began distributing a fake version of Skype (version 8.87.0.403) for Android devices among multiple local marketplaces, such as 51pgzs, siyuetian, and others. They lure victims into believing that they downloaded a legitimate version of the video chat app.

Once the malicious app is installed, it fetches images from various directories on the Android phone and monitors any new images in real time. All images stored on the victim’s device are uploaded to the phishing gang’s backend interface.

SlowMist analysts also discovered that the gang behind the fake Skype app also targeted users in 2022 with their fraudulent version of Binance, noting that both malicious apps have a similar backend domain “bn-download3”.[dot] com.”

“Further analysis revealed that ‘bn-download[number]’ is a series of fake domains used by this phishing gang specifically for Binance phishing, indicating that this gang is a repeat offender specifically targeting Web3, ″ according to SlowMist.

The malicious app sends data to the criminals’ backend, such as device information, user ID, and phone number. To make matters worse, the fake Skype even monitors incoming and outgoing messages to see if they include TRON or Ethereum type address format strings to replace them with pre-made addresses automatically by the scammers.

SlowMist discovered that the TRON chain address, which belongs to the scammers, had received almost $193,000 in Tether (USDT) with 110 transactions, and noted that the funds are still coming in as the most recent transaction was on November 8, 2023. Most of the stolen funds were laundered through BitKeep’s Swap service, and the transaction fees were covered by a registered user on the OKX crypto exchange, SlowMist emphasized.

ZachXBT Reveals $27M Crypto Heist on Binance-Linked Wallet

According to on-chain detective ZachXBT, a cryptocurrency wallet recently suffered a breach. The attack occurred on November 11, resulting in the loss of the $27 million Tether (USDT) stablecoin wallet.

According to ZachXBT analysis, the stolen funds were quickly converted from USDT to Ethereum (ETH). After this, they underwent a series of transactions on various services, including FixFloat and ChangeNow. The final phase involved linking these assets to Bitcoin through THORChain, a decentralized liquidity protocol.

The origin of the funds adds an intriguing layer to the story. The wallet had received the sum through a Binance withdrawal just a week before the heist. To further deepen the connection, ZachXBT research revealed that in May 2019, the same wallet received funds from an address marked by Etherscan as a Binance smart contract implementer.

Record Loss of $699 Million in Web3 Security Breaches in Q3 2023

According to Certik’s quarterly Web3 Security report for the third quarter of 2023, this quarter has been the most eventful, with more than $699 million lost in 184 security incidents. This figure exceeds the combined losses of the first two quarters, with $320 million in losses in the first quarter and $313 million in the second.

The report highlights the Lazarus Group, affiliated with the North Korean state, as one of the most formidable threat actors responsible for significant losses. Another major factor contributing to this quarter’s losses was private key compromises, which accounted for $204 million across 14 incidents.

By Audy Castaneda

Arthur Hayes Calls the US Treasury Secretary the “Bad Gurl” of Pax Americana

Leonardo Perez
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Arthur Hayes Calls the US Treasury Secretary the “Bad Gurl” of Pax Americana

Hayes predicts that Yellen’s actions, in collaboration with the US Federal Reserve, will result in a net injection of liquidity of $1 trillion into global financial markets

In a recent essay titled ‘Bad Gurl’, Arthur Hayes, a renowned crypto expert and former CEO of BitMEX, delves into the intricate world of finance, highlighting the influential figure of US Treasury Secretary Janet Yellen. Hayes characterizes Yellen as the orchestrator of financial maneuvers capable of shaping the global economic landscape.

Janet Yellen, according to Hayes, has significant influence over the global financial system, capable of imposing sanctions that can exile individuals, companies or entire nations from the Pax Americana financial network.

As overseer of the rules and regulations governing the fiat financial system, Yellen’s decisions resonate globally, shaping the world of credit and, consequently, the structure of the global economy.

‘Bad Gurl’ Yellen’s Power and Influence

 Yellen’s role goes beyond mere policymaking; She exercises the authority to impose sanctions, which some see as a financial death sentence. This power is rooted in its responsibility to regulate the rules of the fiat financial system, which, in turn, influences the structure of the global economy.

One of Yellen’s most critical tasks is managing the financing of the US government, especially given the recent rise in deficits. However, as Hayes noted, the market seems skeptical of Yellen’s strategy, evident in the bearish slope of the yield curve. This financial phenomenon poses a significant threat to the banking system, a concern explored in Hayes’ previous essay, “The Periphery.”

To address these challenges, Yellen faces a daunting task list, as Hayes describes in his essay, including injecting liquidity into the system, stimulating demand for long-term debt, balancing the injection of liquidity to avoid spikes in oil prices and fool the market into expecting rate cuts.

By creating the illusion of imminent rate cuts, Yellen seeks to alleviate selling pressure on “not too big to fail” (TBTF) banks.

Implications for Global Financial Markets

Hayes predicts that Yellen’s actions, in collaboration with the US Federal Reserve, will result in a net injection of liquidity of $1 trillion into global financial markets, which is expected to boost the growth of the US stock market, cryptocurrencies, gold and other fixed supply financial assets.

Additionally, the essay anticipates an upward tilt of the US Treasury yield curve, which will prevent a market fire sale of non-TBTF bank stocks. However, Hayes warns that Yellen’s influence has limits and that potential market turmoil could return in late 2024.

Hayes pointed out the uncertainties and possible obstacles in Yellen’s possible strategies that aim to stabilize the economy, issue short-term bills and manage the balance between the Reverse Repurchase Program (RRP) and the Treasury General Account (TGA).

Hayes argues that the subsequent influx of liquidity, along with the actions of other major global central banks, could result in a depreciation of the dollar. The discussion implies that the combined impact of Yellen’s strategies and the resulting increase in fiat credit globally could contribute to a weakening of the dollar.

Arthur Hayes concludes by stating the importance of monitoring net liquidity in the markets and remaining flexible in response to potential changes. Despite the initial impact of Yellen’s strategies, the essay suggests that Bitcoin (BTC), with its remarkably thriving ecosystem, will reassert itself as a real-time indicator of the health of the fiat financial system, underscoring the dynamic nature of global finance. and the intricate dance orchestrated by Bad Gurl’ Yellen.

By Leonardo Perez

NGO Bitcoin Argentina Leads with Proposal for New Crypto Law

Audy Castañeda
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NGO Bitcoin Argentina Leads with Proposal for New Crypto Law

Within the framework of the LABITCONF 2023 event, in the city of Buenos Aires, NGO Bitcoin Argentina presented a draft Bitcoin Law.

At LABITCONF 2023, the NGO Bitcoin Argentina presented a draft bill to give a legal framework to the operation with Bitcoin and crypto assets in Argentina.

Indeed, LABITCONF (Latin American Bitcoin & Blockchain Conference) is the leading conference in Latin America that brings together the main leaders of the crypto industry and entrepreneurs in the region.

In fact, since 2013, LABITCONF has been a key meeting point to discuss and promote the latest trends, developments and challenges in the world of cryptocurrencies and Blockchain technology and has been the origin of many projects.

Inclusive Bitcoin: Empowering Financial Argentina

Specifically, the president of the NGO Bitcoin Argentina, Ricardo Mihura, was in charge of presenting the draft bill. This proposal was prepared by the civil association with the objective of providing a legal framework for operations with Bitcoin (BTC) and crypto assets in the South American country.

In his presentation, on the first day of LABITCONF 2023, lawyer Ricardo Mihura expressed the following:

“We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of giving a positive response, with only two purposes: preserve decentralization and protect savings and public confidence. Because we cannot close our eyes to the number of dishonest actors and projects that circulate with the Blockchain brand.”

Debating the Proposal: Industry Leaders Gather on Stage

In a high-level meeting on stage, prominent industry leaders gathered to address a proposal that has captured the attention of all sectors, with the purpose of debating and thoroughly analyzing said proposal.

On November 10, LABITCONF posted the following on X:

“Freedom or regulation? Juan Pablo Fridenberg, @dieguito, Sol Mas, and Manuel Calderón Cavazzoli explore the global regulatory framework and reveal the possible scenarios in the near future and the opportunities that the Bitcoin Law could facilitate.”

María Sol Mas from Matba Rofex, indicated that it seemed good to her “that exchanges be allowed to maintain the independence of their reserves, and have them autonomously and not on collective deposit platforms. This is consistent with the characteristics of the Blockchain.”

Ricardo Mihura expressed that “Argentina has no possibility of prohibiting its residents from operating in global environments. We believe that it does not make sense to propose a top-down prohibition and we choose to propose the best that the law can offer its citizens: the “the right to claim before a judge, those responsible for causing them concrete and real harm.”

He added that “And this includes those directly responsible and all those who profit in the marketing chain of a fraud, until the final victim.”

Diego Gutiérrez Zaldívar of IOV Labs said that “Decentralization is not Boolean. Bitcoin is at one of the extremes. Each platform has a life cycle, and every project begins centralized. Even Bitcoin was born centralized. The incentives and economic development are decentralizing them as actors join.”

Economist Manuel Calderón Cavazzoli of UTDT clarified that trust can be gained through prestige and good compliance, through self-regulation or external regulation. “In the proposal, actors who build their own credit coexist with those who acquire it by adapting to a regulated framework, and they can compete perfectly.”

Finally, Ricardo Mihura thanked the debate created around the draft presented, and reported that a public debate process was thus beginning to develop a possible draft legal framework for the crypto economy.

By Audy Castaneda

New All-Time Highs for Bitcoin in 2023? Analyst Shares Ultra Bullish Prediction

Leonardo Perez
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New All-Time Highs for Bitcoin in 2023? Analyst Shares Ultra Bullish Prediction

Bitcoin (BTC) is currently trading at $37,072.

The flagship cryptocurrency, Bitcoin, is up more than 100% year-to-date (YTD). Despite these impressive gains, there is still reason to believe that the crypto token’s resurgence is not over, as there could still be new highs before the year ends according to analysis from prominent figures in the community.

Will Bitcoin Reach $69,000 This Year?

In a post shared on his X platform (formerly Twitter), prominent crypto analyst Dave the Wave suggested that Bitcoin could reach its previous highs in this last quarter of the year. Although he did not indicate which highs exactly, the accompanying chart he shared in the post showed that he was hinting at Bitcoin’s all-time high of approximately $69,000.

This is not the first time the crypto analyst has shared his belief that Bitcoin could reach $69,000 this year. In a previous post by It is not unusual for the market to rise significantly, as historical data suggests.

The price of Bitcoin has increased significantly before and after each halving event. Prior to the most recent halving event, which took place in 2020, BTC rose over 17% in the weeks leading up to it and saw a further 559% surge following the event.

However, many might argue that an all-time high (ATH) before the halving event, which will take place in April 2024, seems very far away, especially if the analyst projects the new high to occur sooner. This year is ending.

Bitcoin Traders Diverge on Price Halving

Market participants are very divided when it comes to how BTC price action will play out at the halving and beyond. Some agree that it is possible to reach higher levels in April, but there are still many conservative voices.

Last August, Bitcoin investor and author Jesse Myers dispelled any notion that the BTC/USD pair will trade at six figures between now and then.

In a subsequent interview with Cointelegraph, Filbfilb, co-founder of the DecenTrader trading suite, gave a ceiling on the BTC price of $46,000 before the halving.

“Assuming no black swan, around $35,000 by the end of the year and possibly as high as $46,000 sometime before the halving in Q1 2024,” he said.

Will Bitcoin Reach a New All-Time High Before April?

While reaching a new all-time high before the end of the year seems like a tall order, some prominent figures have nevertheless backed the crypto token to reach a new ATH before April. One of them happens to be Bitcoin OG and Blockstream founder Adam Back.

Interestingly, Back predicted (in August) that BTC will reach or even surpass $100,000 before March 31, 2024. To show how confident he was in his statement, the cryptocurrency founder even went so far as to make a bet with another user who did not agree with his position.

The two agreed to make a bet of 1 million satoshis, with the winner (depending on the price of Bitcoin before March 31, 2024) taking everything. Jan3 CEO and fellow Bitcoiner Samson Mow also agreed with Back in some ways as he believes that Bitcoin will also reach a new ATH before the halving and not after. However, unlike Back, he did not mention any price targets.

By Leonardo Perez

LABITCONF 2023: Regulatory Challenges and Growth Strategies in the Argentine Crypto Scenario

Audy Castañeda
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LABITCONF 2023: Regulatory Challenges and Growth Strategies in the Argentine Crypto Scenario

From LABITCONF 2023, leaders of large companies in the market meet to discuss growth in the Argentine crypto scene.

The second day of LABITCONF in Buenos Aires, Argentina, became the epicenter of momentous discussions about the future of the crypto industry in the country. Leaders within this space, such as Marcelo Cavazzoli of Lemon, Juan Méndez of Ripio, Pedro Gutiérrez of CoinEx, Edgar Plascencia of Bitget and Julián Colombo of Bitso, took the stage to share revealing data that offers a unique and deep perspective on the current state as well as a forecast for next year in the Argentine crypto scene.

A Look at Crypto Platforms

During the start of the panel, Pedro Gutiérrez of CoinEx shared his platform’s prominent position as the leading Chinese cryptoasset exchange. With over 800 cryptocurrencies and 1200 trading pairs, CoinEx stands out as the world’s leading ViaBTC mining pool exchange vertical. Its current focus is the retail user, looking for a large mass of movement with smaller transactions.

Marcelo Cavazzoli from Lemon shared surprising data about the growth of his fintech, consolidating itself as the first application in Latin America with more than 2 million daily active users. With more than 900,000 cards issued, Lemon stands out for its transparency. Users have the ability to see reservation data in real time, generating confidence and peace of mind.

From the other side of the stage, Juan Méndez de Ripio reflected on the last year and invited those who make life within this world to take it as a crucial lesson, in order to have a shared responsibility. Ripio has reached the 10 million user mark in Latin America, offering services to both ordinary users and companies.

The leaders present at LABITCONF made it clear that, despite the regulatory challenges, Argentina has the opportunity to lead and star in a technological revolution. The call not to sit idly by resonates. Installing entrepreneurs and those committed to the crypto world in Argentina to face regulatory challenges and contribute to the construction of a more solid ecosystem.

Juan Méndez de Ripio Explains the Impact of the Next Bitcoin Halving

Every four years, the crypto community looks forward to a fundamental event: the Bitcoin halving. This scheduled event within blockchain technology is not only a technical milestone, but a promise for the ecosystem. From Ripio, they are preparing for the next halving, recognizing its transcendental impact on the price of the main cryptocurrencies. As well as the foundations that support the alternative they offer to the traditional financial system.

Looking ahead, Juan Méndez, shares an optimistic outlook, the expectation is clear: next year could see the arrival of new players on the scene, driven by the halving and the possible introduction of Bitcoin ETFs. This growth is not only reflected in prices, but will strengthen the position of cryptocurrencies as a solid and viable alternative to the traditional financial system.

CoinEx Pedro Gutiérrez Shares His Vision for the Next Year

From Pedro Gutiérrez’s perspective, the coming year is shaping up to be phenomenal, marked by a special focus on the increased adoption and maturity of the crypto ecosystem. CoinEx, with a specific interest in Argentina, plans to maximize its educational partnerships, highlighting the importance of the end user.

CoinEx not only seeks to be a player in the Argentine market, but is committed to establishing solid roots. The presence of a local team in the country reinforces this dedication.

By Audy Castaneda

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