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Elon Musk Starts Following Ethereum Co-Founder Vitalik Buterin On Twitter, Will Dogecoin End Up In The Do – Benzinga

In a surprising twist that has set the crypto community abuzz, Elon Musk, the CEO of Tesla and a prominent figure in the crypto space, has recently hit the "follow" button on Twitter for Vitalik Buterin, the co-founder of Ethereum (CRYPTO: ETH). This unexpected move has sparked speculation about a potential collaboration between the two industry titans and has left many wondering if it could have implications for Dogecoin (CRYPTO: DOGE), the meme cryptocurrency closely associated with Musk.

Musk, known for his active and influential presence on Twitter, has amassed a massive following of 144.2 million users. However, his own follow list has remained relatively small, with only 334 accounts being followed. The decision to include Buterin, a key player in the world of blockchain and crypto, has raised eyebrows and ignited intense speculation about the possible motives behind this social media connection.

This is not the first time Musk has shown an interest in Ethereum. Back in April 2019, he tweeted the word "Ethereum," prompting a flurry of responses. Buterin himself extended an invitation for Musk to attend Devcon, a major Ethereum conference, later that year. Musk responded with a query about potential developments on the Ethereum platform, indicating his curiosity about the technology.

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See Also:Internet Rumor Connects Vitalik Buterin And Elon Musk To Creating Shiba Inu: Here's How

Adding fuel to the speculation, a 2022 report from Watcher Guru drew connections between the creation of Shiba Inu (CRYPTO: SHIB), a popular meme coin, and Musk and Buterin. The report highlighted a series of tweets exchanged between Musk and Buterin in 2019, suggesting a potential link between their conversations and the subsequent launch of Shiba Inu in August 2020.

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However, it's worth noting that both Musk's and Buterin's tweets from that period have been deleted, leaving room for speculation but lacking concrete evidence of any direct involvement in Shiba Inu's creation. The founder of Shiba Inu, known as Ryoshi, mentioned in a blog post that they met a friend at Devcon Osaka who had influence in the crypto space and alluded to their friend's wealth, leading some to draw connections to Musk.

While it remains unclear whether Musk's Twitter follow holds any deeper significance, it is undeniable that his tweets and actions often impact the cryptocurrency market. From his early support for Dogecoin to his influential tweets about Bitcoin, Musk's words have had the power to sway investor sentiment and drive market trends.

As the crypto community eagerly watches for further developments, speculations abound regarding potential collaborations or partnerships between Musk and Buterin. Whether this newfound Twitter connection will have any direct impact on Dogecoin or other cryptocurrencies remains uncertain. Nonetheless, it serves as a reminder of the influential role social media can play in the crypto world and the endless possibilities that lie ahead in this rapidly evolving landscape.

Now Read:Bitcoin, Ethereum Set To Rally? Josh Brown Says Crypto Has Entered 'New Phase' As Institutional Investors Look To Jump In

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Created with images from Wikimedia Commons

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Elon Musk Starts Following Ethereum Co-Founder Vitalik Buterin On Twitter, Will Dogecoin End Up In The Do - Benzinga

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Bitcoin and Ethereum: Markets digest UK inflation and Fidelity … – Proactive Investors USA

Ouch, Brits cried out in unison after seeing this mornings inflation read.

Instead of an expected three basis point fall, year-on-year consumer prices remained sticky at 8.7%, with core prices actually increasing three basis points to 7.1%.

This all but confirms yet another interest rate hike from the Bank of England tomorrow, bringing the running total to a bakers dozen.

Bitcoins price fell half a percent immediately following the inflation call, but substantial gains over the past two days have kept the BTC/USDT pair in a healthy position.

Following a 5% surge on Monday and further gains in this mornings Asia reading window, bitcoin BTC/USDT managed to hit six-week highs of US$29,000 before a slight correction back to US$28,870 in recent hours.

Bitcoin (BTC) nabs a sharp price rally Source: currency.com

Much of the bullishness was due to the launch of EDX Markets, a news cryptocurrency exchange backed by traditional financial heavyweights Fidelity, Charles Schwab (NYSE:SCHW) and Citadel.

Products traded on EDX include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

In a time when incumbent crypto exchanges such as Coinbase, Binance and Kraken are feeling the regulatory whip, EDX sounds like it could be a gamble, but chief executive Jamil Nazarali touted EDXs compliance and investor protections under a new non-custodial model.

EDXs prospects aside, the crypto markets clearly saw this as a bullish move that could open bitcoin and Ethereum up to swathes of new investors.

The ETH/USDT pair didnt see as much upside as BTC/USDT, but still managed to add over 3% to change hands at US$1,812 at the time of writing.

The altcoin space enjoyed a boost too, with Solana (SOL), Cardano (ADA), Polygon (MATIC) and LTC enjoying mid-to-high single-digit gains.

However, as discussed yesterday, bitcoins dominance has consistently surged as altcoins become increasingly out of favour among the cryptocurrency community.

At 51% of the global cryptocurrency market capitalisation of US$1.14tn, bitcoins dominance of the wider crypto markets remains at a two-year high.

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Crypto Price Today: Bitcoin hits highest level since May, Ethereum up 4%, most other tokens extend gains – CNBCTV18

SUMMARY

Bitcoin, Ethereum and other cryptocurrencies extended gains on Wednesday. Bitcoin surpassed the 28k mark, hitting the highest level since May. The global crypto market cap stood at $1.13 trillion, with a volume of nearly $43.1 billion in the past 24 hours.

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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, jumped 6.8 percent to $28,729.2. Its market value stood at $559.5 billion. The trade volume was at $24.1 billion.

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Ethereum | The second largest virtual currency, Ethererum or Ether, rose 4.3 percent to $1,810.9 with a market capitalisation of $217.5 billion. The trade volume of Ethereum was $8 billion in the last 24 hours.

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Dogecoin | Meme-based virtual currency, Dogecoin, jumped 2.7 percent on Wednesday. Its market value stood at $8.9 billion. The trade volume was at $225.3 million.

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Solana | Solana gained 4.4 percent to $16.8 with a market capitalisation of $291.6 million. The trade volume of Solana was $291.6 million in the last 24 hours.

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Shiba Inu | Shiba Inu gained 1.8 percent with a market capitalisation of $4.4 billion. The trade volume was $108.9 million in the last 24 hours.

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Polygon | Polygon jumped 6.9 percent to $0.6 with a market capitalisation of $6 billion. The trade volume was $308 million in the last 24 hours.

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Crypto Price Today: Bitcoin hits highest level since May, Ethereum up 4%, most other tokens extend gains - CNBCTV18

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Powell Says "Pause" Is Temporary; Expert Reveals Reason Behind Bitcoin, Ethereum, Altcoins Rally – CoinGape

The crypto market recorded a broader market recovery on Wednesday, with Bitcoin and Ethereum prices hitting a six-week high. Bitcoin climbs 8% to over $29000, while Ethereum price soars 6% to surpass $1830 in the past 24 hours.

Meanwhile, US Federal Reserve Chair Jerome Powell in a testimony to the US House Financial Services Committee revealed that the interest rate pause is temporary. He added that more rate hikes are likely as inflation remains higher than its target. According to CME FedWatch Tool, the probability of a 25 bps hike at the July 26 FOMC meeting jumped to 80%.

Also Read: JPMorgan, Amazon, IMF, Central Banks Contributes To Singapore Digital Currency Standards

Traders expected it as another short squeeze event triggering massive market recovery, anticipating that the prices would retrace again. However, CryptoQuant CEO Ki Young Ju revealed that it is not a short squeeze and someone is buying a lot of Bitcoin (BTC).

The market recovery fueled by BlackRock iShares spot Bitcoin ETF filing with the US SEC last week led other financial giants to follow with their Bitcoin ETF applications. The positive sentiment continues to rise as institutional shows interest in the crypto market.

Crypto exchange EDX Markets-backed by Citadel Securities, Fidelity Digital Assets, and Charles Schwab announced its launch on Tuesday. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) led the rally today as these are the only cryptocurrencies supported by EDX Markets. BCH jumps over 20% in the last 24 hours.

Also Read: Terra Luna Classic Core Developer Revises Q3 Proposal, LUNC Price To Rally

BitMEX co-founder Arthur Hayes is among the first few experts to predict the crypto market rally. He said the US Treasury General Account (TGA) refills impact on US dollar liquidity is not as critical as expected and risk assets like Bitcoin price will start to rally soon.

Bitcoin continues to move upside after rebounding from the expected $24,800 support level. Bitcoin price soared above $29,000 today as a result of fresh buying from whales and institutional entry into crypto. BTC price currently trades at $29,100, up 8% in the last 24 hours.

Meanwhile,ETH price also rallied to $1850, up 6%. The 24-hour low and high are $1715 and $1831, respectively. check the key events this week that will impact Bitcoin and Ethereum prices.

Also Read: Ethereums New Execution Layer Client Reth With Blazing Fast Benchmarks, ETH To Break $2000

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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Powell Says "Pause" Is Temporary; Expert Reveals Reason Behind Bitcoin, Ethereum, Altcoins Rally - CoinGape

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Ethereum network upgrade and uptick in Arbitrum active users could trigger an ARB price reversal – Cointelegraph

While the Arbitrum governance token ARB has been in a consistent downturn since the airdrop in late March, its ecosystem shows healthy growth.

A recent Nansen report shows that Arbitrums activity improved after the airdrop, stabilizing at a level higher than before the airdrop. The daily active users, gas fees and transaction count have maintained consistently higher levels since April 2023.

The gap between the number of active users on Arbitrum and Optimism widened after the Aribtrum airdrop, closing in on Ethereum.

The trading volume on Arbitrum-based decentralized exchanges paints a similar picture, showing an evident rise in volume after the airdrop.

Moreover, Nansens report shows that ARB airdrop recipients only accounted for around 5% of the activity on the blockchain and that Arbitrum has attracted considerably more new users after the airdrop.

Moreover, an upcoming update on Ethereum in the second half of 2023, dubbed as Cancun-Deneb (Dencun), will include EIP-4844 (proto-Danksharding), which will reduce the transaction fees on Arbitrum, increasing the blockchains value proposition.

Additionally, the Arbitrum Foundation recently revealed accumulated data from its sequencer, a part of the layer-2 fees paid by users for posting the data onto Ethereum.

The foundation has decided to pass on the sequencers earnings, totaling 3,352 Ether (ETH), or $5.4 million, to the Arbitrum DAO, and the ETH will be managed by ARB holders.

A revenue source for the DAO a decentralized autonomous organization can potentially create yields for ARB holders if the community votes to direct the rewards to holders. It remains to be seen how the funds will be managed by the foundation and the DAO.

Nansens data shows that the smart money and funds that accumulated ARB after the airdrop still havent sold, which is encouraging. The on-chain analytics firm tags Ethereum addresses of high-volume and profitable traders as smart money.

The funding rate for ARB perpetual swap contracts turned negative like the rest of the crypto market after the Securities and Exchange Commission (SEC)brought lawsuits against the industrys largest exchanges, Binance and Coinbase, per CoinGlass data.

Related: Deposits to zkSync surpass $110M as its DeFi ecosystem explodes

Funding rates are paid by perpetual swap traders for shorting or longing an asset depending on its demand. If the demand for short orders is higher, it is deemed more expensive, so traders on the short side pay longs.

Currently, the funding rates are near zero, suggesting that futures traders are neutral on ARB.

The ARB/USD pair has observed a downward trend since the tokens launch in March. The compression of the channel shows the possibility of a descending wedge pattern, which has a tendency to break to the upside.

However, if ARB breaks below the support line of the wedge pattern around $0.90, the move to the downside can amplify quickly.

On the ETH scale, ARB broke below Mays low of 0.00057 ETH after the SECs lawsuits. At the time of publication, the token was trading at 0.00056 ETH.

Technically, ARB shows the possibility of a negative trend reversal. Nevertheless, the upcoming Dencun update on Ethereum and decisions taken by the Arbitrum Foundation in directing revenue from the L2 rollup will ultimately dictate ARBs price action.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Ethereum New Execution Client Reth Released By Paradigm, ETH To Hit $2000? – CoinGape

Crypto-focused venture capital Paradigm announced the release of Reth v0.1.0-alpha, the first alpha version of its new Ethereum client. Reth aims to help improve Ethereums stability and client diversity, lower the barrier to entry for contributing to the Ethereum roadmap, and provide a performant and inclusive ecosystem of tools for EVM developers and users.

Georgios Konstantopoulos, chief technology officer of Paradigm, announced the release of Reth v0.1.0-alpha, a modular, developer-friendly, and high-performance Ethereum node.

Reth is a modular, contributor-friendly, and blazing-fast Ethereum layer client written in Rust and using the Apache/MIT license.

It can sync the chain from genesis to block 17.4M in 50 hours, with a database size of nearly 2TB. In addition, robustness and RPC throughput and latency make Reth continue outperforming without falling behind under heavy RPC load.

It provides JSON-RPC APIs that scale throughput up to thousands of requests per second with low latency and a high success rate.

Reth as an SDK is utilized for building EVM-centric infrastructure such as MEV Builders, P2P networking, and ERC4337 UserOp mempools.

Reth has complete features up to the Shanghai upgrade and the team will focus on Cancun and EIP-4844 next, as per the Ethereum roadmap.

Also Read: JPMorgan, Amazon, IMF, Central Banks Contributes To Singapore Digital Currency Standards

ETH price soared over 5% in 24 hours, with the price currently trading at $1825. The 24-hour low and high are $1715 and $1830, respectively. BlackRock iShares spot Bitcoin ETF application and crypto exchange EDX Markets-backed by Citadel Securities, Fidelity Digital Assets, and Charles Schwab renewed positive sentiment in the crypto industry.

An Ethereum analysis by CoinGape Media reported that ETH price can hit $2,000 as multiple factors support another 10% jump.

Also Read: Terra Luna Classic Core Developer Revises Q3 Proposal, LUNC Price To Rally

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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Why Bitcoin, Ethereum, and Shiba Inu Are Falling Today – The Motley Fool

What happened

The price of several cryptocurrencies fell today after the Federal Reserve left interest rates unchanged at the conclusion of its June meeting yesterday but indicated that more rate hikes could be coming later this year.

Since late afternoon yesterday, the price of the world's largest cryptocurrency, Bitcoin (CRYPTO:BTC), traded roughly 2% lower as of 11:11 a.m. ET today, although had been down as much as 3.8% over the last 24 hours.

Meanwhile, the price of the world's second-largest cryptocurrency, Ethereum (CRYPTO:ETH), traded 2.2% lower but had been down close to 6%, while the price of the meme token Shiba Inu (CRYPTO:SHIB) was down about 0.6% after having been down as much as 4%.

Crypto largely seems to be moving overall after the Fed left interest rates unchanged for the first time since March 2022. While this was expected, the Fed then spooked the market, indicating that it expects there to potentially be two more rate hikes this year and that a rate cut could be far away.

Fed Chair Jerome Powell said after the Fed's meeting:

It will be appropriate to cut rates at such time, as inflation is coming down really significantly. And again, we're talking about a couple of years out. As anyone can see, not a single person on the committee wrote down a rate cut this year, nor do I think it is at all likely to be appropriate.

As many will remember, rising interest rates crushed the likes of Bitcoin and the crypto market in 2022, so the thought of the Fed not pausing is bound to worry crypto investors.

"Once the penny dropped that more hikes are likely and we're in a higher-for-longer rates environment, Bitcoin lost its hold," said Nexo managing partner Antoni Trenchev, according to Barron's. "Bitcoin is nervously looking at the low $20,000s. It'll be a while before this torrid time for crypto blows over."

Still, the market isn't necessarily buying the Fed's story. According toCME Group's FedWatch tool, the bulk of traders are betting that the Fed will raise interest rates at its next meeting in July. But if you look out to December, traders are split on interest rates ending the year where they are now, between 5% and 5.25%, or a quarter-point higher.

I would agree with the market that there is a long way to go before the Fed does two more rate hikes this year, but it still could happen, so it can't be ruled out.

It's going to depend on the data. As the Consumer Price Index numbers demonstrated earlier this month, some parts of the economy are still running hot, as prices for shelter, transportation services, used cars, and even food bounced a little bit in May. The Fed may look for some of these prices to soften as well as for further cracks in the labor market before it can declare victory in its war with inflation, which means the data going forward is going to be very important.

Ultimately, I still think it's worthwhile having some exposure to Bitcoin and Ethereum, which I think will be here for the long haul. I continue to have no interest in Shiba Inu.

Bram Berkowitz has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool recommends CME Group. The Motley Fool has a disclosure policy.

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Why Bitcoin- And Ethereum-Related Stock Greenidge Generation (GREE) Is Exploding Higher – Greenidge Gener – Benzinga

June 21, 2023 11:28 AM | 1 min read

Greenidge Generation Holdings Inc (NASDAQ:GREE) shares are trading higher by 11.29% to $3.45 Wednesday morning on heavy volume. The stock is trading higher amid strength in the price of Bitcoinfollowing BlackRock's Bitcoin ETF application.

What Happened?

The cryptocurrency market is experiencing a notable upswing driven by several favorable developments, including the introduction of EDX Markets, a newly established exchange supported by prominent financial entities such as Charles Schwab, Fidelityand Citadel Securities.

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These influential players from the finance industry are lending their backing to EDX Markets, contributing to the positive momentum within the market.

See Also:What's Going On With Nikola (NKLA) Shares

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What Else?

Greenidge Generationowns and operates a vertically integrated cryptocurrency data center and power generation company. With a higher Bitcoin price, the profitability of Bitcoin mining improves.

Miners like Greenidge Generation incur costs for electricity, equipmentand operational expenses. When the price of Bitcoin is higher, the revenue generated from mining can surpass these costs, leading to increased profitability.

According to data fromBenzinga Pro, GREE has a 52-week high of $48.90 and a 52-week low of $1.55.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Ethereum killer Cardano rolls out version 8.1.1, likely to catalyze ADA price recovery – FXStreet

Cardano (ADA), one of the largest competitors of the Ethereum network, was recently labeled a security by the US Securities and Exchange Commission (SEC). The SECs crackdown resulted in a steep decline in ADA price, and the altcoin has been struggling to wipe out its losses since June 5.

The Ethereum killer blockchains community of developers has released a new version of Node 8.1.1 on the mainnet and invited Staking Pool Operators (SPOs) to upgrade to the release. This development is likely to fuel a recovery in ADA price.

Also read: Cardano, MATIC and Solana attempt to recover amidst exchange delisting and SEC crackdown

Early on June 20, Cardano developers launched Node version 8.1.1 on the ADA blockchains mainnet. According to the Github release, the upgrade is mainnet-ready and has significant improvements over the previous version. Developers have strongly urged all SPOs to update to 8.1.1.

The update has been marked as a minor release and fixes previously identified issues for peer-to-peer technologies- running on the Cardano blockchain.

Richard McCrackn is a well-known figure in the Cardano community who tweeted details of the new release to his 60,300 followers. McCrackn broke down the details of the technical update and notes that version 8.1.1 is a significant improvement over 8.0.0. It contains performance upgrades and corrects previously identified concerns.

Despite the SECs regulatory crackdown on Cardano, the community of developers are busy building and improving the competing blockchain. This signals confidence in the developer community, and technical updates typically act as catalysts for the tokens recovery in the short term.

ADA price declined from $0.3793 on June 5 to $0.2591 on Binance at the time of writing. ADA price dropped by 31.7% between June 5 and June 20, a steep decline for the Ethereum killer token.

While Cardano price eyes recovery, technical updates to the ADA blockchain are likely to act as a catalyst. The recent rollout of a new version of the Node could fuel a recovery in the altcoin. The closest resistance for ADA price is the 10-day Exponential Moving Average (EMA) at $0.2726.

ADA/USDT one-day price chart from Binance

Once the ADA price begins its recovery, the $0.3537 level that acted as support throughout May is the next target for the altcoin.

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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptocurrencies European Wrap 21 June – FXStreet

Bitcoin price has increased 74% in the last six months, and recent developments suggest more gains are on the way. Specifically, the BTC dominance shows a bullish outlook while the short-term picture remains optimistic.

Bitcoin price rallied past $28,900, wiping out recent losses stemming from the Securities and Exchange Commissions crackdown on cryptocurrencies. Rising institutional interest in spot Bitcoin Exchange Traded Funds (ETFs) and news on regulation of cryptocurrencies in Europe and Southeast Asia has acted as a catalyst for the assets recovery.

The market capitalisation of cryptocurrencies rose 5.7% in the last 24 hours to 1,134 trillion. Bitcoin was the engine of growth, but buyers quickly expanded to some altcoins. Bitcoin is up 7.6%, Ethereum is up 4.7%, and the top altcoins are up from a modest 1.9% (XRP) to 9.4% (Litecoin).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptocurrencies European Wrap 21 June - FXStreet

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