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Quantum Teleportation: The Future Frontier | by Priyam | Dec, 2023 – Medium

Introduction

In the realm of quantum physics, where particles can exist in multiple states simultaneously and become entangled across vast distances, a phenomenon known as quantum teleportation has captured the imaginations of scientists and science fiction enthusiasts alike. Quantum teleportation is not about physically moving objects from one place to another but rather involves the instantaneous transfer of quantum information. In this blog, well embark on a journey to understand the intriguing concept of quantum teleportation and explore the mind-bending principles that underpin this phenomenon.

The Quantum World:

Before diving into quantum teleportation, its crucial to grasp some fundamental concepts of quantum mechanics. At the quantum level, particles exhibit behaviors that defy classical intuition. For instance, particles can exist in multiple states simultaneously, a phenomenon known as superposition. Additionally, particles can become entangled, meaning the state of one particle is directly related to the state of another, regardless of the distance between them.

Understanding Quantum Entanglement:

Quantum teleportation relies heavily on the concept of entanglement. When two particles become entangled, their quantum states are intertwined. If you manipulate the state of one entangled particle, the state of the other particle changes instantaneously, no matter how far apart they are. This instantaneous connection, described by Einstein as spooky action at a distance, forms the basis for quantum teleportation.

The Quantum Teleportation Process:

Quantum teleportation involves three particles: A, B, and C. Particle A is the quantum information source (the particle to be teleported), while particles B and C are entangled. The process unfolds in several steps:

Its crucial to note that during this process, the original particle A is destroyed. Quantum teleportation, therefore, involves the transmission of quantum information rather than the physical movement of particles.

Challenges and Applications:

While quantum teleportation holds immense theoretical promise, practical challenges remain. The process relies on maintaining the delicate state of entanglement over long distances, which is susceptible to environmental factors and interference.

The potential applications of quantum teleportation are vast. It could play a role in quantum communication networks, quantum computing, and even the development of secure quantum encryption methods.

Conclusion:

Quantum teleportation stands as a testament to the mind-bending possibilities within the quantum realm. While its practical applications are still in the early stages of development, the concept challenges our classical understanding of information transfer. As scientists continue to unravel the mysteries of quantum mechanics, the potential for harnessing quantum teleportation for revolutionary technologies remains an exciting frontier in the world of physics and quantum information science. The journey into the quantum realm continues to unfold, revealing the intricacies of a universe that constantly defies our expectations.

Quantum Communication Networks

Quantum teleportation could play a pivotal role in the development of quantum communication networks. Traditional communication networks are susceptible to eavesdropping, as intercepted information can be decoded without detection. Quantum teleportation, with its reliance on entanglement, offers a solution to this vulnerability. By leveraging quantum teleportation, secure communication channels could be established over vast distances, ensuring the privacy and integrity of transmitted information.

Quantum Computing Advancements

The world of quantum computing, with its promise of solving complex problems at unprecedented speeds, may find a significant ally in quantum teleportation. Quantum bits (qubits) are notoriously delicate, and maintaining their state over extended periods is a formidable challenge. Quantum teleportation might offer a mechanism to transmit qubits reliably, facilitating the creation of more stable and scalable quantum computers.

Quantum Encryption for Cybersecurity

As cybersecurity becomes an increasingly critical concern in our interconnected world, the unbreakable encryption offered by quantum teleportation could revolutionize data security. Quantum key distribution (QKD), a subset of quantum teleportation, allows for the creation of cryptographic keys with a level of security that classical algorithms cannot match. This could usher in a new era of virtually impenetrable encryption methods, safeguarding sensitive information from cyber threats.

Space Exploration and Quantum Teleportation

The vast distances involved in space exploration present significant challenges for communication. Traditional radio signals take minutes or even hours to traverse the vastness of space. Quantum teleportation, with its instantaneous information transfer, could redefine the way we communicate with probes, rovers, and potentially even future manned missions to distant celestial bodies. The ability to transmit information in real-time across astronomical distances opens new frontiers in our exploration of the cosmos.

Ethical and Philosophical Considerations

The concept of quantum teleportation also brings forth profound ethical and philosophical questions. As we delve into the realm of transmitting quantum information, the nature of identity, consciousness, and the fundamental fabric of reality itself comes under scrutiny. The implications of quantum teleportation extend beyond the technological realm, challenging our understanding of existence and the boundaries of the known universe.

In conclusion, the journey into the world of quantum teleportation is a fascinating exploration that transcends the boundaries of classical physics. As research continues and technology advances, we may witness the integration of quantum teleportation into our daily lives, revolutionizing the way we communicate, compute, and secure information. The uncharted territories of quantum mechanics continue to unveil themselves, offering a glimpse into a future where the seemingly impossible becomes an integral part of our technological landscape. The journey has just begun, and the horizon is filled with possibilities that stretch the limits of our imagination.

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Bitcoin Prices Inch Higher. This Is Likely to Be the Next Catalyst. – Barron’s

Bitcoin and other cryptocurrencies were mixed Wednesday as traders took stock of the recent rally, and appeared to be waiting for more catalysts ahead of expected regulatory approval of exchange-traded funds that hold Bitcoin.

Bitcoin has traded up 0.9% over the past 24 hours to $43,070.The biggest cryptocurrency has largely traded in a range of between $41,000 and $44,000 since early December but has more than doubled this year so far.

The...

Bitcoin and other cryptocurrencies were mixed Wednesday as traders took stock of the recent rally, and appeared to be waiting for more catalysts ahead of expected regulatory approval of exchange-traded funds that hold Bitcoin.

Bitcoin has traded up 0.9% over the past 24 hours to $43,070.The biggest cryptocurrency has largely traded in a range of between $41,000 and $44,000 since early December but has more than doubled this year so far.

The Bitcoin rally has been fueled by expectations that the Securities and Exchange Commission (SEC) likely will grant approval to ETFs that propose buying crypto tokens on the spot market. The first set of approvals are expected as early as January. The SEC has held talks this month with the asset managers hoping to launch Bitcoin ETFs.

Crypto is a very cyclical industry and it feeds off market momentum. Factor in ETFs,Bitcoins halving, a presidential election, crypto legislation and U.S. dollar inflation, you have yourself a very explosive 2024 , said Brandon Zemp, head of blockchain consultancy BlockHash.

Ethereum, the second largest cryptocurrency, was up 3.7% at $2,327. Among smaller cryptocurrencies, Cardano was broadly flat but Solana was down 4.1%. Dogecoin was up 0.3%.

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Write to Adam Clark at adam.clark@barrons.com

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Will payment options on X include crypto? Elon Musk tells Cathie Wood: I dont spend a lot of time thinking about cryptocurrency – Fortune

Elon Musk says hes close to launching payments on X, but despite longtime speculation that those options would include cryptocurrencies, the Dogecoin aficionado suddenly seems a bit meh on that idea.

The Tesla founder and PayPal alum has been steadily working to incorporate payments into the social network as part of a mission to create an everything app ever since he bought the company. A report by the Financial Times claimed in January that although X would start with traditional payments, crypto would later become a priority.

In an interview this week on X Spaces with Ark Invest CEO Cathie Wood, Musk said payments could be added to X, formerly Twitter, by mid-2024, but that his interest in crypto was fading.

I dont spend a lot of time thinking about cryptocurrencyhardly any at all, he said.

Musk went on to laud the current monetary system, saying that money is essentially just a database for resource allocation and that fiat currency worked fine for this purpose as long as governments didnt meddle too much.

The apparent shift away from crypto is surprising for Musk, who has often tweeted memes about Dogecoin, the cryptocurrency he personally supports, that have sent the token soaring. In April ,the Twitter logo was even temporarily replaced by the Dogecoin logo, sending the price of the cryptocurrency up 20% in half an hour.

Tesla, another Musk firm, also has a big stake in crypto. As of the third quarter, the electric vehicle company had just over $184 million worth of Bitcoin on its balance sheet, although that amount has remained unchanged for several quarters.

Although it is unclear what payments on X will look like, the plan to take the app beyond its social networking roots are well underway. The company has already received money transmitter licenses in several U.S. states, which would let it introduce payment services.

Xs revenue has fallen in recent months as advertisers have been put off by controversial content and Musks own public comments. Still, the company has much to gain from adding payments, for which it would get a cut of each transaction. Musk estimates that the new service could bring in $1.3 billion annually to the social network.

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MicroAlgo Developed QSDLT to Provide a More Secure Foundation for Bitcoin and Other Cryptocurrency Systems By … – Investing.com

MicroAlgo Inc. (MLGO) (the "Company" or "MicroAlgo"), today announced the quantum shield distributed ledger technology (QSDLT), designed to provide a stronger, more secure foundation for Bitcoin and other cryptocurrency systems.

In traditional blockchain systems, security relies heavily on cryptographic algorithms based on public key cyphers. However, the emergence of quantum computers threatens this system. Quantum computers can solve problems in a relatively short period of time that current conventional computers cannot handle, including some widely used cryptographic algorithms.

Specifically, the emergence of quantum computers could crack current systems based on RSA and elliptic curve encryption algorithms. This means that private keys and transaction data could be easily accessed by quantum computers, jeopardizing the security of the entire blockchain system. To counter this threat, the research and development of QSDLT have become particularly urgent.

To protect the Bitcoin system from the threat of quantum computers, MicroAlgo Inc.'s QSDLT was created as an innovative solution. The goal of QSDLT is to build a strong shield for the Bitcoin system by integrating quantum security, which is not just a simple upgrade to the traditional blockchain system, but a revolutionary change to the entire cryptocurrency ecosystem.

MicroAlgo Inc.'s QSDLT employs a series of advanced cryptographic algorithms, particularly those that combat quantum algorithms, to ensure that Bitcoin transactions and user identities are fully protected. Its core is to provide a security framework that is resistant to quantum computing threats, incorporating quantum security into DLT to provide stronger protection for Bitcoin and other cryptocurrencies. Its design principles include countering attacks from quantum algorithms, achieving invariance, reducing transaction costs, enabling decentralization and increasing transparency. The introduction of this technology marks the next stage in the evolution of the Bitcoin system.

Anti-quantum algorithm defence mechanism: One of the core aspects of MicroAlgo Inc.'s QSDLT is its robust anti-quantum algorithm defence mechanism. Cryptographic algorithms used in traditional blockchain systems, such as RSA and elliptic curve encryption algorithms, may be threatened by quantum computer attacks in the future. To address this challenge, QSDLT employs well-thought-out cryptographic algorithms that are more resilient to quantum computer attacks. This ensures that QSDLT will be able to keep Bitcoin transactions secure and tamper-proof in the face of the rise of quantum computers.

Invariance and transparency: QSDLT focuses on maintaining the invariance of the blockchain, meaning that once a transaction is confirmed and added to the blockchain, it cannot be tampered with. This is one of the fundamental characteristics of the blockchain and is critical to ensuring the trustworthiness of the Bitcoin system. Meanwhile, MicroAlgo Inc.'s QSDLT promotes transparency through the decentralized nature of the blockchain. Every participant is able to view and verify the history of transactions, thus enhancing overall traceability and openness.

Post-quantum distributed ledger technology (PQDLT): MicroAlgo Inc.'s QSDLT technology focuses not only on anti-quantum algorithm defense, but also places itself in a broader technological context to form PQDLT. this denotes the convergence of QSDLT with innovations in the fields of machine learning, deep learning, 6G, and the quantum internet, laying the groundwork for the future of the digital economy. The concept of PQDLT aims to achieve comprehensive security for the Bitcoin system and to facilitate the development of a digital financial system.

Reduced costs: QSDLT effectively reduces the cost of Bitcoin transactions by employing carefully optimized algorithms and technologies. This feature not only makes the Bitcoin network more accessible, but also provides a lower barrier to participation in Bitcoin transactions for a broader group of users. Lowering the cost will help facilitate mass adoption of Bitcoin and drive broader adoption in the digital currency space.

Highly scalable: MicroAlgo Inc.'s QSDLT is highly scalable with future growth needs in mind in its basic concept. This allows QSDLT to adapt to the increasing size of the Bitcoin network's user base and to be flexible enough to meet the growing demands of digital finance. High scalability is one of the key factors that make QSDLT a trusted infrastructure.

MicroAlgo Inc.'s QSDLT is more than a simple upgrade to the traditional blockchain. It is an update to combat the threat of quantum computing. Its key features, including anti-quantum algorithmic defence mechanisms, invariance and transparency, cost reduction, PQDLT, and high scalability, combine to create a robust and flexible security framework.

MicroAlgo Inc.'s QSDLT provides the Bitcoin system with a robust defence against quantum algorithms with its strong anti-quantum algorithmic capabilities, making transactions secure and tamper-proof. At the same time, QSDLT maintains the basic principles of the blockchain, enhancing overall trustworthiness through invariance and transparency. Reduced transaction costs make the Bitcoin network more attractive, further driving mass adoption of the digital currency. As the threat of quantum computing emerges, the emergence of MicroAlgo Inc.'s QSDLT marks the dawn of a new era of Bitcoin security. The basic concepts and key features of QSDLT present a blueprint for the future of digital finance, an innovation that will open up more possibilities for the digital economy, ensure that Bitcoin and other cryptocurrency systems remain secure and trustworthy in the quantum era, and lead the way for a vibrant future of digital finance. the future of digital finance.

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12 most popular types of cryptocurrency – Yahoo Finance

Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. In fact, cryptos that arent Bitcoin are usually considered an also ran what are called altcoins, or alternatives to Bitcoin.

While Bitcoin may have been the first major cryptocurrency to hit the market it debuted in 2009 many others have become highly popular, even if not quite as large as the original.

Here are the largest cryptocurrencies by the total dollar value of the coins in existence, that is, the market capitalization, or market cap. (Data is from CoinMarketCap.com, as of December 21, 2023.)

Price: $43,701

Market cap: $855 billion

As the harbinger of the cryptocurrency era, Bitcoin is still the coin people generally reference when they talk about digital currency. Its mysterious creator allegedly Satoshi Nakamoto debuted the currency in 2009 and its been on a roller-coaster ride since then. However, it wasnt until 2017 that the cryptocurrency broke into popular consciousness.

Price: $2,228

Market cap: $268 billion

Ethereum the name for the cryptocurrency platform is the second name youre most likely to recognize in the crypto space. The system allows you to use ether (the currency) to perform a number of functions, but the smart contract aspect of Ethereum helps make it a popular currency.

Price: $1.00

Market cap: $91 billion

Tethers price is anchored at $1 per coin. Thats because it is whats called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tethers case, the U.S. Dollar. Tether often acts as a medium when traders move from one cryptocurrency to another. Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isnt safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt.

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Price: $272.75

Market cap: $41 billion

BNB is the cryptocurrency issued by Binance, among the largest crypto exchanges in the world. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services.

Price: $86.60

Market cap: $37 billion

Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing transactions and the overall robustness of its web-scale platform. The issuance of the currency, called SOL, is capped at 480 million coins.

Price: $0.6151

Market cap: $33 billion

Formerly known as Ripple and created in 2012, XRP offers a way to pay in many different real-world currencies. Ripple can be useful in cross-border transactions and uses a trust-less mechanism to facilitate payments.

Price: $1.00

Market cap: $25 billion

Like Tether, USD Coin is a stablecoin pegged to the dollar, meaning that its value should not fluctuate. The currencys founders say that its backed by fully reserved assets or those with equivalent fair value and those assets are held in accounts with regulated U.S. institutions.

Price: $0.5996

Market cap: $21 billion

Cardano is the cryptocurrency platform behind ada, the name of the currency. Created by the co-founder of Ethereum, Cardano also uses smart contracts, enabling identity management.

Price: $44.57

Market cap: $16 billion

Avalanche is a blockchain that was launched in 2020 and competes with Ethereum as one of the most popular blockchains for smart contracts. AVAX is the native currency of the Avalanche blockchain.

Price: $0.09158

Market cap: $13 billion

Originally created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital currencies limiting the number of coins in existence, Dogecoin has unlimited issuance. It can be used for payments or sending money.

Price: $7.66

Market cap: $10 billion

Launched in May 2020, Polkadot is a digital currency that connects the technology of blockchain from many different cryptocurrencies. A co-founder of Ethereum is one of Polkadots inventors, and some industry watchers believe Polkadot is looking to dethrone Ethereum.

Price: $0.104

Market cap: $9 billion

Launched in September 2017 by Justin Sun, Tron is a blockchain ecosystem focused on decentralizing the internet through blockchain technology and decentralized apps. Tron hosts the largest circulating supply of stablecoins in the world, according to CoinMarketCap.com.

The cryptocurrency market is a Wild West (although the U.S. government is taking a more active role in overseeing the crypto space), so those speculating in these digital assets should not put in more money than they can afford to lose. Crypto assets faced downward pressure for much of 2022 and trading remained volatile in 2023. Its also important to note that individual investors often trade against highly sophisticated players, making it a fraught experience for novices.

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

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South Korea to Mandate High-Ranking Public Officials to Disclose Cryptocurrency Holdings by Next Year – Cryptonews

Source: CJ Nattanai/Adobe

South Korea has announced that high-ranking public officials will be required to disclose their cryptocurrency holdings starting next year.

In a Wednesdaypress release, the countrys personnel ministry said this proactive approach is intended to address potential conflicts of interest and promote integrity within the public sector.

The decision comes amidst the growing popularity and adoption of cryptocurrencies in South Korea, where digital assets have gained significant traction among both retail and institutional investors.

By mandating disclosure of cryptocurrency holdings, the government aims to ensure that public officials maintain the highest ethical standards and avoid any potential conflicts that may arise from their involvement in the crypto market.

The new requirement will apply to high-ranking officials across various government agencies and departments.

These officials will be obligated to report their cryptocurrency holdings, including details of the assets they own and the respective amounts.

The move is part of the governments broader efforts to strengthen regulatory oversight of the cryptocurrency industry and promote transparency in the public sector.

With the implementation of the licensing regime for VA trading platforms from June this year, the legislative proposal to regulate FRS is another important measure facilitating Web3 ecosystem development in Hong Kong, the Secretary for Financial Services and the Treasury, Christopher Hui, said.

South Koreas decision to mandate disclosure of cryptocurrency holdings reflects a growing global trend of increased regulatory scrutiny surrounding digital assets.

As cryptocurrencies continue to gain mainstream acceptance, governments worldwide are taking steps to ensure the proper regulation and oversight of this evolving financial landscape.

Likewise, Back in 2020, the Financial Action Task Force introduced the Travel Rule, formally known as FATF Recommendation #16, which orders virtual asset service providers (VASPs) to share the information of the originators and beneficiaries of crypto transactions that exceed a certain threshold.

A number of jurisdictions have made insufficient progress on implementing the Travel Rule.

In a move to align the countrys legal framework with the global standards of the FATF,Japans cabinet implementedtougher AML regulations in May, requiring the tracking of all cryptocurrency transactions.

One significant element of this revised framework is enforcing the travel rule.

Financial institutions must now disclose information on customers who conduct crypto asset transactions, such as their names and addresses. This ensures full disclosure of customer information between financial institutions.

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Sun Miner Unveils a New Era of Simplified and Profitable Cloud Mining for Cryptocurrency Enthusiasts Worldwide – Yahoo Finance

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Manchester, United Kingdom --News Direct-- Prodigy Press Wire

Sun Miner, a global leader in the cloud mining industry, is revolutionizing the digital asset mining sector. Since its inception in March 2019, Sun Miner has rapidly grown into a trusted platform, providing cloud mining services to over 9.55 million users worldwide. With its state-of-the-art technology and seasoned team of experts, Sun Miner has streamlined the cloud mining process, making it accessible, efficient, and profitable for users around the globe.

At the heart of Sun Miner's success is its commitment to democratizing the mining process. The platform enables users to engage in cryptocurrency mining without dealing with the complexities of equipment procurement and maintenance. Through its user-friendly interface, anyone, regardless of their technical expertise, can start mining cryptocurrencies like Bitcoin and Ethereum effortlessly.

Sun Miner's innovative approach extends beyond simplifying the mining process. The company offers a range of cloud mining contracts that cater to various user needs, ensuring a flexible and personalized experience. These contracts allow users to earn daily profits based on their chosen plans, with the convenience of automatic deposit into their accounts.

The company's Christmas promotions offer an added advantage, with various attractive hash rate options available for Bitcoin mining. These promotional rates are designed to maximize users' earnings while providing fixed-income opportunities. Additionally, Sun Miner celebrates the festive season by extending warm wishes and a registration bonus of $10 to new users. This gesture not only encourages participation but also enriches the user experience.

Sun Miner's affiliate program is another highlight, offering up to a 3% lifetime commission. This program is a testament to the platform's inclusivity and commitment to providing opportunities for financial growth. With no investment required to start earning, it presents a lucrative opportunity for anyone looking to diversify their income streams.

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The platform's success is further evidenced by the positive testimonials from satisfied users. Customers from various professions, including teachers, physicians, and web administrators, have praised Sun Miner for its dependable, transparent, and efficient services. These endorsements underscore the platform's reliability and effectiveness in delivering stable and profitable mining solutions.

Sun Miner's robust infrastructure is backed by an expert team of blockchain engineers and IT professionals, with over 60% dedicated to research and development. This focus on innovation ensures that Sun Miner remains at the forefront of the cloud mining industry, offering cutting-edge solutions to its global user base.

Moreover, Sun Miner emphasizes security and compliance, providing a transparent and secure blockchain infrastructure. The platform's comprehensive service ecosystem includes cloud mining, mining machine hosting, and self-mining, ensuring a holistic approach to digital asset mining.

As the company looks to the future, it aims to expand its services across the entire cryptocurrency industry chain. With ongoing technological advancements and a commitment to exceptional service, Sun Miner is poised to continue its trajectory of growth and innovation in the global digital asset mining industry.

Sun Miner is a world-leading cloud mining company, established in 2019 and headquartered in Manchester, United Kingdom. The company's mission is to make cloud mining accessible to everyone, leveraging advanced technology and large-scale industrial data centers. Sun Miner provides a significant portion of the world's cloud mining computing power, with a vision to expand its services throughout the cryptocurrency industry chain. The company is known for its strong business model, expert team, and commitment to technological innovation, catering to a global customer base.

Website: https://sunminer.com

Company: SunMiner

Founder: Sun Aileen

address: 50 Liverpool Street Salford, Manchester, United Kingdom

Email: info@sunminer.com

Disclaimer: This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The distribution nor its partners are responsible for any decision made by the reader. Individuals should conduct their own research before making any financial decisions. All information should be independently verified with the company it pertains to.

Release ID: 843526

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The Resurgence of Cryptocurrency Market: Bitcoin ETFs and Price Predictions – Geeks World Wide

The cryptocurrency market has witnessed a resurgence in recent weeks, fueled by increased capital inflow and the anticipation of a spot Bitcoin Exchange Traded Fund (ETF) receiving approval from the U.S. Securities and Exchange Commission (SEC). The potential approval of a Bitcoin ETF is expected to have a significant impact on the market, with institutions like BlackRock submitting filings to launch spot Bitcoin ETFs. Experts predict that these ETFs could drive Bitcoins price up to $125,000 by December 2024. Additionally, the impending Bitcoin halving and growing interest in Ethereum ETF filings are expected to contribute to a surge in Bitcoins price.

In recent weeks, the cryptocurrency market has witnessed a resurgence in capital inflow, igniting renewed enthusiasm among investors. The surge in trading volumes and the attainment of annual highs by major cryptocurrencies have contributed to this newfound optimism. The focal point of this resurgence revolves around the anticipation of a spot Bitcoin Exchange Traded Fund (ETF) receiving approval from the U.S. Securities and Exchange Commission (SEC). While previous discussions centered on whether such approval would materialize, a shift in the SECs stance has now led to speculations about when, rather than if, the market can expect this approval.

Prominent institutional players like BlackRock have submitted filings to launch spot Bitcoin ETFs, which could drive Bitcoins price up to $125,000 by December 2024. Standard Chartered Bank predicts that the swift arrival of spot Bitcoin ETFs will lead to a surge in Bitcoins price and also benefit Ethereum. Matrixport believes that the impending Bitcoin halving and anticipated interest rate cuts in the United States will contribute to the price surge. Matrixport has also identified growing concerns about the U.S. debt-to-GDP ratio as a potential driver for investors to turn to Bitcoin as a store of value. Currently, Bitcoin has the largest market capitalization in the cryptocurrency market.

Retik Finance (RETIK) is an alternative coin that has garnered attention in the cryptocurrency space. It offers real-world utility, has a track record of success in presale stages, and exhibits strong bullish momentum. Retik Finance presents an opportunity for diversification within the cryptocurrency market and is at the forefront of the decentralized finance (DeFi) movement.

The resurgence in the cryptocurrency market is driven by the anticipation of a spot Bitcoin ETF receiving approval, increased institutional interest, and predictions of significant price gains for Bitcoin. However, investors should also consider alternative coins like Retik Finance (RETIK), which offers real-world utility, a track record of success, and the potential for substantial returns. As the cryptocurrency market continues to evolve, strategic positioning in digital assets such as Retik Finance can provide diversification and potential spikes in portfolios.

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Elon Musk says he spends hardly any time at all thinking about cryptocurrency – The Block – Crypto News

People December 22, 2023, 3:33AM EST Published 1 minute earlier on

Elon Musk said that he no longer thinks that much about cryptocurrency.

I don't spend a lot of time thinking about cryptocurrency hardly any at all, Musk said in an X space conversation with Ark Invest CEO Cathie Wood on Dec. 21, in response to Woods question on bitcoins potential impact on the financial system.

I have thought for a long time about money and the nature of money, Musk continued. What is money? It's really a database for resource allocation.

Musk added that fiat currency is actually fine as a database for resource allocation provided that its rules-based and theres not much abuse from the government.

Musk said that he would think of the money system as applying information theory to money problems. Just think of it like it's an information system, he said. You want to minimize noise, minimize latency, minimize packet loss. And so inflation would be adding noise to the system.

Musks comment comes as his firm Tesla appears to continue to hold digital assets on its balance sheet. Teslas third-quarter results showed that the company held $184 million worth of digital assets at the end of September.

The electric vehicle maker has the third-largest bitcoin holdings among publicly traded companies, following MicroStrategy and Marathon Digital Holdings, according to data from bitcointreasury.net. Tesla also accepts Dogecoin for payment.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Bitcoin Price Prediction: Can Bitcoin Reach $1000000 by 2025? Forbes Advisor INDIA – Forbes

The year 2022 has been very tough for all the cryptocurrencies including Bitcoin and Ethereum and also for crypto enthusiasts. The largest cryptocurrency in the world, BTC has lost approximately 65% of its market value in the entire last year. Crypto enthusiasts were caught off guard by a series of unpredictable events such as the Terra Luna crash, FTX fall, macroeconomic conditions and Binance guilty plea.

The start of this year 2023 was strong for the cryptocurrencies as the crypto world was showing signs of recovery. Bitcoin even rose an average of 0.39 in the month of July at around $31,000. The crypto world is showing immense recovery as of Oct., Nov. and Dec. has BTC rising at good levels. As of Dec. 20, 2023, BTC is at $42,853, market capitalization at $837.54 billion and market volume at $21.19 billion. Bitcoin rises high as expected.

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Post the psychological threshold of the $31,000 mark, Bitcoin has yet again started showing a bearish trend and trading below $30K levels. The worlds largest cryptocurrency, BTC, which was on the path of recovery had added on up to the monthly benefit of almost 15%, according to the latest charts retrieved by CoinMarketCap and is now trading at its highest level since May 2022 at $42,877.

BTC seems under slim pressure as inflation continues to be a crucial issue in emerging economies such as the U.S. and the UK, and as anticipated the U.S. Federal Reserve hiked the interest rates with a 25-basis point to tackle inflation issues. As per experts, the major resistance is seen near the $29,800 level and the next major resistance is at the $30,400 level.

This is not the first time that BTC is under pressure. Bitcoin had seen a major fall that pushed the cryptocurrency below the $26,000 level, a three-month low, when the U.S. Securities and Exchange Commission sued one of the leading cryptocurrency exchanges in the world, Binance and its founder and chief executive officer, Changpeng Zhao (CZ).

The SEC blamed crypto exchange Binance for creating separate entities as Binance.com and Binance US, as segments of an elaborate scheme to evade U.S. federal securities laws. It has also alleged that a firm owned by its founder CZ, had been involved in artificially growing the trading volume of crypto assets, listed on its Binance U.S. platform.

Cryptocurrency experts believe that if BTC sticks to its level of $30,000, then it could bounce back likely from here and now is leading at $42,877 as of Dec. 20, 2023.

In April 2023, the top cryptocurrency Bitcoin touched the key resistance of $30,000 level, for the first time since June 10, 2022 and then started dipping below till $26,000 level and now hassupremely raised at $42,877 after May 2022. Crypto experts believe Bitcoin must stick to the $31,000 level and more to touch the level of $60,000 by the end of the year 2023.

However, the recovery path is lengthy, as BTC is still down almost 37.75%, from its all-time high. At the start of the year, Bitcoin plunged below the level of $20,000. But due factors such as the deepening banking crisis in the U.S., the weakening of the dollar index and cooling inflation have been able to bring back Bitcoin and other digital currencies to lead the path of resistance. So, it is not wrong to say that the recent U.S. financial crisis has increased the appetite for cryptocurrencies.

While the future of Bitcoin is unknown, retail investors are required to be very cautious about each and every move of Bitcoin, as it has been a tumultuous year for Bitcoin. Bitcoiners should not forget the fact that the currency is still trading low at almost 37.75% from its all-time high. The reason behind this volatility can be attributed to the macroeconomic conditions in countries including the U.S. and the UK.

Moreover, Indias stance on cryptocurrencies continues to be firm with the government bringing all crypto-related transactions under the ambit of the Money Laundering Act. In a specific gazette notification, the Union Finance Ministry of India stated that all the transactions related to digital assets or virtual currency would fall under the purview of the Prevention of Money Laundering Act (PMLA).

On the face of it, the new development may appear damaging to the cryptocurrency community in India. On the ground, the move has been praised by the industry at large as this is a step towards regulating this space, where in the absence of regulators, the enforcement agencies will straight up take recourse to any discrepancies.

One of the other reasons why crypto experts are hopeful about Bitcoin is that, in the coming year 2024, will be a year for Bitcoins halving event. The Bitcoin halving event happens every four years in which BTC rewards to its miners are cut by 50%, (the miners payout will be reduced to 3.125 BTC). This event is usually viewed as positive for Bitcoins price, as it helps in contracting supply. Historically, halving has been seen as a great sign for bringing momentum to Bitcoins price.

Bitcoin Halving History

In the above table, we can see that past Bitcoin halving events have been able to establish long-term bullish drivers for Bitcoins price. The Bitcoin halving event relates to its deflationary tendency and crushing its supply, which helps the Bitcoin price to rise further. As BTC, being a decentralized cryptocurrency, cant be printed by any central banks or governments and thus Bitcoins total supply is limited.

Moreover, Bitcoin Whales, large investors have started accumulating Bitcoin once again. According to data from on-chain aggregator Santiment, the large Bitcoin whales are holding a range from 1,000-10,000 BTC in their wallets, showcasing that investors have been filling up their wallets with a lot of Bitcoins, which might reflect recovery signs in the price of Bitcoin.

We all are aware that Bitcoin has rallied 80% plus more since the start of this year. With massive and unanticipated gains, it has surely surpassed several other major assets and set huge returns for those who have bought Bitcoin at dips.

The crypto industry is excited to witness the new peak of BTC and hoping for more. Marshall Beard, chief strategy officer at crypto exchange Gemini, believes Bitcoin to break its all-time highs this year. He even said, $100,000 price figure is an interesting number if bitcoin gets to its previous record high of near $69,000.

If Bitcoin really happens to touch this magical figure, then it has to showcase an upside of 270% to reach at $1 lakh level.

Paolo Ardoino, chief technology officer at Tether also has a positive view on Bitcoin. He said BTC could retest its all-time high of around $69,000.

Nonetheless, the year 2023 seems to be a decent year for Bitcoin advocates, who always tend to consider it as a digital gold or safe-haven investment that can offer traders attractive returns in times of mayhem. It was a major boost for BTC in hopes that the U.S. Federal Reserves might reduce the chances of more aggressively increasing interest rates.

Bitcoin enthusiasts always have too positive and at times not possible predictions for their favorite cryptocurrency. And, after this mini-bull run, many discussions are happening around the worlds largest digital coin, BTC, the crypto coin could even witness a level of $10 lakh by 2025.

This hypothetical and notable figure of $10 lakh has been rolled by several well-known personalities in the crypto world. Recently, Standard Chartered, one of the leading British Multinational Banks raised its prediction price for the BTC ranging from $1,00,000 to $1,20,000 by the end of the year 2024 in one of its most recent research reports citing more profit to BTC miners. The MNC bank forecast BTC to reach $50,000 by the end of this current year.

The Chinese-Canadian Bitcoin entrepreneur and CEO of crypto firm, JAN3, Samson Mow, believes that the cryptocurrency will reach $1 million in the next five years. With several such wild guesses, Balaji Srinivasan, an investor and the former technology chief at Coinbase, took a bet that BTC could reach $10 lakh or more in just 90 days.

Srinivasan made this strong statement by merely believing that as the world goes into the stage of hyperinflation, the value of the dollar will get weak due to which the people will start buying more and more BTC. The term Hyperinflation means an extreme increase in the price of goods and services over a period of time.

On the other hand, cryptocurrency experts believe BTC might touch $10 lakh in the coming years, but not that soon and predicting this level in the year 2023 or in just 90 days is just not possible.

Marshall Beard stated Bitcoin to be a million dollars in 90 days, some crazy things are happening in the world, which we dont want, he said, however, that it might take 10 years to reach anywhere close to this extreme prediction.

(The Bearish View)

There are different sets of investors too, large institutions and corporates who hold an opposite view (bearish) on Bitcoin and have a strong opinion that Bitcoin might fall shortly. They believe that this rally is a major bull trap rather than a bull run. Global investor, Mark Mobius, the billionaire founder of Mobius Capital Partners, predicted a huge fall in 2022 and even said that Bitcoin can go down to the $10,000 range.

The same is predicted by another investor, Matthew Sigel, head of digital assets research at VanEck, a global investment manager who sees BTC drop to $12,000 levels, mentioning higher energy prices.

On the other hand, global bank Standard Chartereds prediction on Bitcoin is super surprising. They predicted that BTC would fall to $5,000 levels in the current year 2023.

Crypto experts believe that the rising hikes and tighter monetary policy will not allow BTC to rebound sharply in the coming future. As in this kind of unpredicted market, traders will not choose to invest or buy risky assets like Bitcoin. And, those investors who have been holding BTC, might sell it, creating undue pressure on the crypto markets again.

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Among the myriad predictions on Bitcoin, the bottom line remains that Bitcoin has seen several downfalls and has emerged stronger than before each time. Its resilient nature instills a belief of sorts in the minds of crypto enthusiasts who find value in investing in decentralized currencies. Whether Bitcoin soars higher or turns to dust is something only time can tell, and trading Bitcoin should be done with full awareness your investment will not necessarily give you the anticipated returns.

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