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Good news for Bitcoin: New CPI data suggests inflation has peaked | Find out now on Market Talks with Tim Warren and Caleb Franzen

August 11, 2022 Coin Telegraph

Analysis

The CPI numbers are out and they might hold a bullish signal for Bitcoin (BTC). Join us as we discuss this and other topics with Tim Warren, co-host of Coffee N Crypto, and Caleb Franzen.

In this weeks episode of Market Talks we welcome senior market analyst at Cubic Analytics, Caleb Franzen.

Caleb is a Senior Market Strategist at Cubic Analytics, analysing new data/charts on the economy, the stock market, and Bitcoin to make better investment decisions. He is also a former corporate banking & portfolio analyst.

The main topic of discussion with Caleb will be the new CPI data and what they mean for the crypto market, specifically Bitcoin (BTC). Is there a correlation between the data and the recent price pump? How sustainable is this price action?

We also go over a few of Caleb’s tweets where he explains which indicators he looks at when analysing charts. One indicator he finds particularly interesting is the 78-week Williams%R oscillator. We get into why it’s important and how it can help.

Something that might be looming over everyone’s heads is whether the recent Bitcoin pump is a fake out and if we could actually go lower before we break through $30K. We get Caleb's thoughts on this as he and Tim try to figure it out.

Ethereum (ETH) has been performing particularly well recently with all the news and hype surrounding the merge from proof of work (POW) to proof of stake (POS). Does this mean that the merge has already been priced in or can we see a rally when the merge actually takes place in September? Could this be a classic case of buy the rumour sell the news?

Tune in to have your voice heard. We’ll be taking your questions and comments throughout the show, so be sure to have them ready to go.

Market Talks with Crypto Jebb streams live every Thursday at 1 pm ET (5:00 pm UTC). Each week, we feature interviews with some of the most influential and inspiring people from the crypto and blockchain industry. So, be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.

Will the Bitcoin mining industry collapse? Analysts explain why crisis is really opportunity

July 29, 2022 Coin Telegraph

Antminer

Many BTC miners are in a tough spot and a few could collapse, but experts say the industry is here to stay.

Bitcoin mining involves a delicate balance between multiple moving parts. Miners already have to face capital and operational costs, unexpected repairs, product shipping delays and unexpected regulation that can vary from country to country — and in the case of the United States, from state to state. On top of that, they also had to contend with Bitcoin’s precipitous drop from $69,000 to $17,600.

Despite BTC price being 65% down from its all-time high, the general consensus among miners is to keep calm and carry on by just stacking sats, but that doesn't mean the market has reached a bottom just yet.

In an exclusive Bitcoin miners panel hosted by Cointelegraph, Luxor CEO Nick Hansen said, “There’s going to definitely be a capital crunch in publicly listed companies or at least not even just publicly listed companies. There’s probably close to $4 billion worth of new ASICs that need to be paid for as they come out, and that capital is no longer available.”

Hansen elaborated with:

“Hedge funds blow up very quickly. I think miners are going to take 3 to 6 months to blow up. So we’ll see who’s got good operations and who’s able to survive this low margin environment.”

When asked about future challenges and expectations for the Bitcoin mining industry, PRTI Inc. advisor Magdalena Gronowska said, “One of the biggest challenges that we’ve had in this transition to a low-carbon economy and reducing GHG emissions has been an underinvestment in technology and infrastructure by the public and private sectors. What I think is really amazing about Bitcoin mining is that it’s really presenting a completely novel way to fund or subsidize that development of energy or waste management infrastructure. And that's a way that’s beyond those traditional taxpayer or electricity ratepayer pathways because this way is based on a purely elegant system of economic incentives.”

Will Bitcoin destroy the environment?

As the panel discussion shifted to the environmental impact of BTC mining and the widely held assumption that Bitcoin’s energy consumption is a threat to the planet, Blockware Solutions analyst Joe Burnett said:

“I think Bitcoin mining is just not bad for the environment, period, I think if anything, it incentivizes more energy production, it improves grid reliability, and resilience and I think it will likely lower retail electricity rates in the long term.”

According to Burnett, “Bitcoin mining is a bounty to produce cheap energy, and this is good for all of humanity.”

Will industrial Bitcoin mining catalyze the long-awaited “mass adoption” of crypto?

Regarding Bitcoin mining dominance, the future of the industry and whether or not the growth of industrial mining could eventually lead to crypto mass adoption, Hashworks CEO Todd Esse said, “I believe that most of the mining down the road will be held in the Middle East and North America, and to some extent Asia. Depending upon how much they are eventually able to cut off. And that really speaks to the availability of natural resources and the cost of power.”

While it is easy to assume that growing synergy between big energy companies and Bitcoin mining would add validity to BTC as an investment asset and possibly facilitate its mass adoption, Hansen disagreed.

Hansen said:

“No, certainly not, but it is going to be the thing that transforms everyone's life whether they know it or not. By being that buyer of last resort and buyer of first resort for energy. It's going to transform energy, energy markets and the way it is produced and consumed here in the US. And overall, it should significantly improve the human condition over time.

Don’t miss the full interview on our YouTube channel and don’t forget to subscribe!

Disclaimer. Cointelegraph does not endorse any content of product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Cryptopedia: Learn about Web3 and how it aims to transform internet services

March 25, 2022 Coin Telegraph

Coin Telegraph

Cointelegraph breaks down Web3 and how it can create a better version of the internet and give back control to the people.

In the newest episode of Cryptopedia, Cointelegraph's Jackson DuMont dissects Web3 and gives an insightful overview of how the next generation of the internet works. DuMont discusses the basics of Web3 and how it’s different from its predecessors Web1 and Web2.

Web1 was the first version of the internet, which occurred from 1991 to 2003. It involved static and read-only HTML web pages with simple design, and DuMont described Web1 users as only "consumers of content."

On the other hand, Web2 brought innovations like images, videos, applications, games and ads. The second iteration of the internet relied on the exchange of information between companies and users and has developed a centralized social ecosystem.

The term Web3 was first used by one of the Ethereum founders, Gavin Wood, back in 2014. He described this version of the web as decentralized and blockchain-based with technologies that verify information through various protocols.

With Web1 being past and Web2 being the present, Web3 opens the way to a futuristic version of the internet that is more decentralized and secure. DuMont summarized Web3 as a “read, write and own” phase of the internet.

While Web3 is described a decentralized and owned by the people, the current iteration of the supposed third generation of the web is criticized for being centralized and owned by venture capitalists and not the people. Back in 2021, Twitter co-founder and former CEO Jack Dorsey warned people that companies own Web3. “You don't own Web3,” he wrote.

Despite the criticism, companies still continue to build and put money into the development of Web3 infrastructures. In March, Web3 giant Animoca Brands started to target social media giants in an effort to speed up the development of an open metaverse. On the other hand, investor Katie Haun also recently raised $1.5 billion for a Web3 fund.

Crypto Stories: Pakistani crypto billionaire wants his country to be less reliant on credit

March 21, 2022 Coin Telegraph

Coin Telegraph

A former reality TV host with millions of followers on YouTube became one of Pakistan's biggest crypto proponents, and hopes to help his country shine again.

When YouTube was banned in Pakistan, Reality TV star Waqar Zaka "had no other option" than to turn to Bitlanders — an artificial intelligence (AI) educational social platform — to monetize his content in Bitcoin (BTC). Cointelegraph interviewed Zaka for the latest episode of Crypto Stories to find out how this celebrity came up against the Pakistani government.

Zaka claimed that the capital gains he was earning in Bitcoin were "nothing" in comparison to his YouTube earnings, but that no one believed in the origins of his newfound financial freedom. With the goal of making his home country of Pakistan crypto rich, he decided to trade in his media and entertainment work for Bitcoin study materials.

When the technology-averse Pakistani government banned Bitcoin in 2017, Zaka filed a petition against it and won. He took to social media to speak out against the government's unconstitutional acts, offer advisory support and encourage the Pakistani people to invest in crypto. Zaka was then appointed for to run the first crypto mining farm to use hydropower in Pakistan for a short-lived venture.

When Bitcoin was still at $5,000, Zaka challenged the government to invest 1% of its budget and put up his property as collateral. He succeeded in getting the government to enact an order that does not criminalize crypto mining or investing unless proven to be invoiced in illegal activities.

Recently, Pakistan's President Arif Alvi called for more training in blockchain technology, artificial intelligence and cybersecurity during a meeting with blockchain experts.

Cryptopedia: Learn the basics of DAOs and how they work

March 7, 2022 Coin Telegraph

Coin Telegraph

Cointelegraph breaks DAOs down, explaining why this increasingly popular governance structure is relevant and transformative.

In the latest Cryptopedia episode, viewers can get a succinct and informative overview of decentralized autonomous organizations, or DAOs. Cointelegraph's Jackson DuMont believes DAOs have the power to "completely transform how work and social collaboration are organized."

What makes this type of organization both decentralized and autonomous? The answer is smart contracts on the blockchain. Fundamentally, a DAO runs on the lines of computer code written on smart contracts that anyone can interacted with in the same way.

DuMont described the three major steps necessary to launch a DAO. The first step is creating that smart contract. The second step is to determine how to receive funding and enact governance, usually done by creating a token. Lastly, the DAO is deployed on the blockchain.

The most popular use case of a DAO is crowdfunding. The money pooled together is put into a smart contract that, in return, issues tokens to DAO members. Tokenholders, who own equity in the DAO, can then vote on how spend the money and vote to appoint delegates.

In the case of ConstitutionDAO, members raised just over $49 million to buy an original copy of the U.S. Constitution but were outbid at auction. Another example is Blockbuster DAO, which aims to raise enough money to buy the video rental brand from Dish Network and turn it into a streaming film studio.

DAOs intend to reduce the risk of poor leadership through horizontal leadership, or flat hierarchies that level out the playing field of power. The reach is infinite and no matter where a member is located, everyone is bound by the same rules of the smart contract. Trust is placed in code rather than people.

Of course, there remain risks and concerns over legality and security. One notable example of a DAO gone wrong is The DAO, which was hacked for $50 million in 2016. A recent report claims to reveal the identity of the alleged hacker.

Cryptopedia: What is the Metaverse and how will it alter the internet?

February 23, 2022 Coin Telegraph

Coin Telegraph

This short explainer gives viewers an overview of how blockchain technology powers the Metaverse and its economic potential.

Cointelegraph's Jackson DuMont, Director of video, tackles the topic of the "next big thing:" the Metaverse. He explains the who, what, why behind the Metaverse and deep dives into how its blockchain technology has the potential to alter the online lives of internet users.

The term was originally coined by Neil Stephenson in his 1992 novel Snow Crash. Although not a new concept, recent increased activity and developments within the collaborative virtual spaces have turned it into a new economic virtual realm that rivals the current physical economy.

"The metaverse is exactly like the current version of the internet," but it's on its way to becoming fully immersive, explained Dumont, especially thanks to tech and social media giants like Meta and Microsoft playing a big role in its evolution. In Meta's case, it has invested billions of dollars and is positioning itself at the center of the "multi-billion dollar eden" while racking up the profits.

Some of the features that the Metaverse looks to improve upon within cyberspace includes user privacy, data protection, trestles transactions and unchangeable record keeping. That's where blockchain technology comes in. Metaverses operate on the same values that blockchain-based systems run on, such as permissionless access, censorship resistance, security and decentralization,

"Blockchain and crypto assets are fundamental to creating a safe virtual reality. And NFT technology will also be the foundation for property ownership in the metaverse."

Decentraland and The Sandbox are examples of metaverses that have seen the most virtual real estate and NFT sales within the past year. Dumont points out, however, that in order for the general Metaverse to be more widely adopted, interoperability between individual virtual worlds is key. This means that users would be able to move from one virtual space to another using the same avatars and digital items while bridging a metaverse life from Ethereum to Solana for example.

What unites all of the metaverses, that for now are operating separately, is one larger community with a common shared vision: to build a new internet infrastructure that can support the Metaverse. Outstanding challenges include developing augmented and virtual reality devices with higher internet speeds and superprocessors that handle hyper-realistic graphics.

The video ends with a lofty statement: "Humanity is in the midst of creating the most complete alternate reality to ever exist." But how long will society have to wait to fully immerse itself into this fantasy?

What is the best marketplace to buy NFTs? | Find out now on The Market Report

January 25, 2022 Coin Telegraph

Coin Telegraph

Cointelegraph’s resident experts discuss which NFT marketplace offers the best features.

“The Market Report” with Cointelegraph is live right now!

On this week’s show, Cointelegraph’s resident experts discuss which nonfungible token (NFT) marketplace has the most to offer its customers.

But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down.

Next up, join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they debate which marketplace is the best for NFTs. Will Bourgi’s pick of Solanart come out on top, with its high speeds and low transaction costs? Or will Yuan’s pick of Rarible beat out the rest with its community-owned approach, where RARI tokenholders can vote and make changes to the platform? Last but not least, we have Jordan’s pick of ThetaDrop, which supports all types of creators, from well-known artists like Katy Perry to crypto influencers and popular gamers. Which marketplace do you think has the most to offer? Leave us a comment with your thoughts, and vote in the poll in the chat room!

Stick around after the showdown for insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Markets Pro to identify two altcoins that stood out this week: Anchor Token (ANC) and Akash Token (AKT).

Do you have a question about a coin or topic not covered here? Don’t worry! Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a free month of Cointelegraph Markets Pro, worth $100!

The Market Report streams live every Tuesday at 12:00 pm ET (5:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page, and smash those like and subscribe buttons for all our future videos and updates.

Upcoming parachain auctions send Polkadot to new ATH, while CHR and THETA follow

November 1, 2021 Coin Telegraph

Altcoin Watch

DOT hits a new all-time high as the project’s parachain auctions approach and the ever-expanding Metaverse could be behind the gains seen in CHR and THETA.

"Uptober" is over but as Zhu Su tweeted earlier today, the crypto market rally could extend through "Upvember, Upcember" and beyond. The month of October was stellar for Bitcoin (BTC) and Ether (ETH) primarily because each hit new all-time highs and even though the prices are consolidating now, traders are still wildly bullish.

Uptober, Upvember, Upcember
— Zhu Su (@zhusu) November 1, 2021

The steady emergence of the Metaverse is also driving excitment within the crypto sector as it promises to be one of the driving forces behind development in the cryptocurrency space. The concept of a Metaverse is also impacting the "real world", a prime example being Facebook's recent rebranding of to ‘Meta’.

As the market heads into the month of November and bullish expectations run hot, let's take a look at some projects where the data hints at possible upside breakouts.

Polkadot's parachain auctions approach

The Polkadot (DOT) network is a sharding, multichain protocol designed to facilitate cross-chain transfers of any data or asset type and the project is focused on increasing interoperability between separate networks across the blockchain ecosystem.

Data from Cointelegraph Markets Pro and TradingView shows that momentum for DOT has been on the rise over the past couple of months, with its price rising 95% from a low of $26.05 on Sept. 29 to a new all-time high at $51.57 on Nov. 1 as its 24-hour trading volume surged 135% to $2.93 billion.

*DOT/USDT 1-day chart. Source: TradingView*

The rising strength of DOT is largely due to the upcoming launch of the parachain auctions on the Polkadot protocol. It's likely that traders are looking at the success of the parachain auctions that took place on Polkadot's sister network, Kusama, and expecting the same to occur for DOT.

Polkadot’s parachain auctions have been in development throughout 2021 and the excitement surrounding their Nov. 4 launch appears to be the driving force behind DOT rallying to a new all-time high at $51.57 today.

The motion to enable parachain registration and crowdloans has passed Polkadot's council and gone to a public referendum. If passed, parachain teams will be able to register their parachain and open their crowdloan on Nov. 4, 2021 at approx. 19:15 CET. https://t.co/5ouDWBmnvc
— Polkadot (@Polkadot) November 1, 2021

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for DOT on Oct. 27, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. DOT price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for DOT began to pick up on Oct. 27 and reached a high of 80 around two hours before the price began to increase 28% over the next five days.

Revolve Games selects Chromia

Chromia (CHR) is a layer-one blockchain network that is Ethereum Virtual Machine (EVM) compatible and capable of enhancing layer-two performance on Ethereum and the Binance Smart Chain.

Data from TradingView shows that since hitting a low of $0.296 on Oct. 27 the price of CHR has surged 101% to a daily high at $0.595 on Oct. 31 as its 24-hour trading volume spiked to $371 million.

*CHR/USDT 1-day chart. Source: TradingView*

The surging price of CHR comes as the project's gaming ecosystem had several positive developments, including the announcement that blockchain gaming firm Revolve Games chose Chromia to build and host its play-to-earn ecosystem, as well as the listing of the Chromia-based Mines of Dalarnia token on Binance.

Theta Token expands its NFT ecosystem

Theta is a blockchain-based video streaming protocol designed to operate as a decentralized network where users are rewarded for sharing bandwidth and computing resources with others on the network.

Momentum for THETA has been on the rise over the past couple of months as its NFT ecosystem has expanded and is now preparing to host the launch of Katy Perry’s NFT project in December.

The token also got a boost after it was revealed that THETA stakers will be airdropped its TDROP governance token in February 2022, with the allocation each holder receives determined by the average number of THETA staked during the evaluation period.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for THETA on Oct. 28, prior to the recent price rise.

*VORTECS™ Score (green) vs. THETA price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for THETA climbed into the green zone on Oct. 27 and reached a high of 81 on Oct. 28 around three hours before the price began to increase 42.3% over the next three days.

The overall cryptocurrency market cap now stands at $2.63 trillion and Bitcoin’s dominance rate is 43.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Video

Will Bitcoin destroy the environment?

Will industrial Bitcoin mining catalyze the long-awaited “mass adoption” of crypto?

Polkadot's parachain auctions approach

Revolve Games selects Chromia

Theta Token expands its NFT ecosystem

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