Ethereum News Daily Official TheBitTimes.com

LUNC likely to continues grinding higher. Source: TradingView Terra Luna Classic, the cryptocurrency that powers the original Terra blockchain protocol that collapsed in value in May 2022 after algorithmic stablecoin Terra UST lost its 1:1 peg to the US dollar, has been going sideways this week. Cryptocurrency markets are currently in wait-and-see mode ahead of a speech from Fed Chair Jerome Powell that could trigger fresh volatility after last week’s more dovish-than-expected Fed policy meeting. LUNC/USD was last changing hands just above $0.00018, practically unchanged on the week, with the cryptocurrency still seemingly in a medium-term uptrend since its mid-December lows. If the uptrend continues to be respected, that would imply that LUNC could continue grinding higher in the weeks ahead and potentially rally back to the north of the $0.00020 level. Price predictions thus remain bullish.  LUNC likely to continues grinding higher. Source: TradingView I...

Cathie Wood, the CEO of Ark Investment Management and a well-known crypto whale, has been a strong supporter of bitcoin for some time. Despite the recent drop in its value, Wood and her team at Ark remain optimistic about the future of the world's largest digital currency as they noted in a recent report on disruptive technologies where they go over the bull case for Bitcoin. In the report, Ark analysts point out that even with Bitcoin's severe drop from $69,000 to a low of $15,797, it has still outperformed other major asset classes over relatively short time horizons. In fact, over the five years ending in 2022, bitcoin posted a compound annualized return of 8.7%, compared to 6.1% for global equities, negative 1.7% for global debt, and 7% for gold. According to Ark, bitcoin's fundamentals are stronger now than ever before. The market capitalization of bitcoin as of November 21, 2022 was $393 billion, compared to just $58 billion about five years earl...

Image Source: Pixabay An Ontario man has allegedly lost his home plus his entire life savings after falling victim to a crypto scam.  Stephen Carr of Meaford got involved with the scam after watching a YouTube video that promised he could make large amounts of money trading commodities, foreign currencies, and cryptocurrencies. To test the waters, Carr started with a $250 investment and poured another $2,500 after seeing his investment grow.  At one point, the Canadian resident asked for a $1,000 withdrawal, which he received and gave him confidence the website was legitimate. Subsequently, he invested his life savings of $498,000 from a period in October 2022 to January 2023, as per a report by CTV News Toronto.  “What I didn't know at the time is this trading platform I was on was a simulation, it wasn't connected to anything, like a flight simulator that’s not connected to a real airplane,” he told the outlet. After his i...