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Author: Blofin Academy Next year’s macro trend forecast: In the first half of next year, the crypto market will still face strong liquidity pressure. The November-December economic data showed that while signs of recession in the US and Europe are becoming apparent, more data supported that the US economy “remains strong”, providing enough evidence for the Federal Reserve to maintain hawkish policy through 2023; Stubbornly high inflation in the region leaves the ECB little choice but to keep raising rates aggressively. Although the Fed began tapering off interest rate hikes in December 2022, inflation is far from returning to normal levels. As a result, the Fed’s “peak interest rate” will remain in place for at least six months. Traders in the interest rate market now expect rates to peak in March 2023 and last until at least November. As a result, liquidity pressure in the crypto market will remain high, and a rebound in prices and a market recovery are still a long way off. In the op...

Join Our Telegram channel to stay up to date on breaking news coverage Cardano (ADA) price action has plummeted more than 7% in the last seven days as the ASIA PAC and European sessions watched in dismay as cryptocurrencies took a step back. Many traders have been disappointed as the Christmas rally failed to unfold as they expected while no actual trading day is left for cryptocurrencies in 2022. Adding salt to injury, the Cardano price is receiving a stark technical rejection that could see more downside should the selling pressure escalate. As of the time of this writing, Cardano (ADA) price appears to be heading for a new low, after the token’s price lost 1.7% in the last 24 hours to trade at $0.2417. This is the lowest price ADA has recorded in the year, with the token still likely to dip further. Nevertheless, Santiment data may restore investor hope, but ADA bulls would have a lot of ground to cover to make Cardano trade positive again.  Cardano Sellers Gettin...

Former FTX CEO may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits by entering a guilty plea. Former FTX CEO Sam Bankman-Fried (SBF) may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits to be received for entering a guilty plea instead of going to trial.  Set to appear in Court in the first days of January to enter a plea deal, Bankman-Fried is "unlikely to receive a favorable deal from prosecutors," argued Mark Kasten, counsel in Buchanan Ingersoll and Rooney’s Blockchain and Crypto Assets practice group. Speaking with Cointelegraph, Kasten explained the government often requires defendants to assist in the prosecution of others in order to receive a cooperation credit. "Here, it is unlikely that Bankman-Fried can point the finger at anyone," said. Bankman-Fried may also enter into an agreement similar to Caroline Ellison and Gagy Wang called "o...

Many praised the move, while others brought up some potential negative effects of one entity holding a lot of Bitcoin. Software analytics company MicroStrategy recently added more Bitcoin (BTC) to the firm’s holdings. Members of the crypto community had mixed reactions to the move.  In a recent tweet, MicroStrategy’s executive chairman Michael Saylor announced that the firm had made another Bitcoin purchase . The move puts the firm’s total BTC holdings at 132,500 BTC, purchase d for a total of $4.03 billion but worth only around $2.1 billion at the time of writing. Many commended the move, while some brought up some potential negative effects. Michael Saylor, you are a rock star. Your mission Jim aka Michael Saylor, if you choose to accept it, is to bank the unbanked throughout the world. — The Young Gentleman (@YoungGentlaman) December 28, 2022 A community member praised the MicroStrategy chairman, calling him a “rock star” whose mission is to bank the unbanked. Others cele...

Flexibility in the face of the highly volatile crypto space has pushed for the introduction of new staking mechanics. The FTX collapse shook up the crypto market, and billions of dollars are currently locked up in the now-defunct crypto exchange. On top of that, FTX was such a big player that the contagion spread to other crypto players, including several trading powerhouses, popular DeFi protocols, and decentralized exchanges. Trust in the crypto ecosystem is at its lowest level. Investors are withdrawing funds from major centralized exchanges while the sales of cold wallets are up. Despite an overall gloomy mood in crypto space, one form of crypto investment remains at the height of popularity, and this is staking. Staking is similar to bank deposits. You agree to lock up your funds for a period of time and, in return, earn interest on them. Of course, staking providers are not immune to financial troubles. Many investors are still recovering from the crash of the Terra ecosystem. I...

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction shows that BTC slides below the resistance level of $16,900 as further downside momentum may come to play. Bitcoin Prediction Statistics Data: Bitcoin price now – $16,622.12 Bitcoin market cap – $320.8 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $20,000, $22,000, $24,000 Support Levels: $14,000, $12,000, $10,000 BTC/USD range-bounds with the selling pressure seen around the $16,622 level which is stopping it from seeing any major gains. Meanwhile, traders are not surprised by the selling pressure as bears are trying to defend against a break above the 9-day and 21-day moving averages. However, until bulls keep the price above this barrier, the king coin may continue to face a prolonged s...