Altcoin News by Thebittimes.Com

The Bitcoin price tumbled 4% in October, breaking its seven-year ‘Uptober’ streak as ETF outflows, profit-taking, and macro jitters weighed on the market. An Analysis by Fortune showed it was Bitcoin’s fourth-worst October performance since 2013 and the worst in the past seven years. That left BTC trailing the S&P 500 stock index, which rose 2.3%. The sell-off came as more than $550 million flowed out of major Bitcoin and Ethereum ETFs late in the month, with analysts saying profit-taking also played a part as Bitcoin treasury firms, including Michael Saylor’s Strategy, also slowed their BTC buying. We just experienced the first red October in 7 years! We also had an historic liquidation in October! UPTOBER was a fraud, but MOONVEMBER?? imho; if you can, DCA more! if you can’t, DO NOT panic sell your bags for cheap! If you are out of $$ and you are sure of your port,… pic.twitter.com/LH7aYTwQeY — Blockchain Bob (@blockchainbob) ...

Join Our Telegram channel to stay up to date on breaking news coverage Social Media hustler and viral sensation Andrew Tate is in the news again. And no, it is not about his comments against women or social media ban but his support for crypto. The kickboxing world champion has come out and straight up said that fiat money is “trash,” and cryptocurrency is where the true wealth lies. Andrew Tate’s Bitcoin Endorsement Must be Taken with a Grain of Salt Within a short period of time, Andrew Tate has amassed more followers and infamy than one can even dream of. But this lifestyle guru is someone that appeals to those who’re living in a perceived “red pill” society. Moreover, his “Hustler University” has been called a scam and something akin to “multi-level marketing,” His hot takes on women and money has caused him to draw as much ire as Alex Jones. Andrew Tate revealed his bullishness about the world&rsquo ;s first cryp...

Also Read: PEPE Coin Mimicks Shiba Inu Pattern; Which Memecoin Will Gain Upper Hand? advertisement Speaking about the recent craze around memecoins like the Pepe Coin, Nailwal said the constant demand for memecoins is not a good sign for the industry. This is not a good sign for the Crypto Market in the eyes of investors and regulators. Sandeep Nailwal Disappointed With PEPE Coin Rise Speaking about the recent rise in demand for memecoins, the Polygon cofounder said memecoins don’t help the bigger cause, when asked about PEPE during a Twitter space. He, however, acknowledged that there was no doubt that Bitcoin and Ethereum are the bellwethers of the crypto industry. “Not a good sign for crypto that institutions and investors see the rise of memecoins. Sad that memecoins keep coming and is not a good sign for the market in the eyes of investors and regulators.” Trending Stories Market Corre...

Also Read: Visa Deepens Crypto Payments Presence With Ethereum Account Abstraction advertisement Meanwhile, the crypto community is awaiting the all important Summary Judgement in the Ripple lawsuit, as it could be key to how regulators in the United States look at the Crypto Market . Whether the Hinman documents order would have any bearing on the Summary Judgement remains to be seen. XRP Lawsuit Summary Judgement Close To Completion US attorney Fred Rispoli said sealing motion order on blocking the Bill Hinman documents could have preponed the Summary Judgement date for XRP lawsuit. He said the Judgement is surely and almost ready to go if not fully ready to go, going by the ruling. “It is very much any day right now. The main takeaway from the ruling with the motion to seal is that the Summary Judgement ruling is (already) written. Is it 100% written or 98% written is the question.” Recommended Articles ...

Also Read: XRP And Cardano Records Buying Amid Largest Crypto Funds Outflow advertisement A spot ETF would essentially allow investors to gain exposure to Bitcoin indirectly, as against directly buying the cryptocurrency on a crypto exchange. Grayscale Spot Bitcoin ETF: Towards Approval With the judgment, the judge cleared the way for approval of the Grayscale spot Bitcoin ETF. The Court’s judgment stated: “It is ordered and adjudged that Grayscale’s petition for review be granted and the Commission’s order be vacated, in accordance with the opinion of the court filed.” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Trading Bots List 2023 Must Read ...

Also Read: Biden Administration Under Pressure To Implement Crypto Rules: WSJ advertisement Also, the Committee Chair James Comer said in a letter that the US SEC’s hirings of division heads in long term positions appear to undermine the IPA. Thus allegation comes after the recent questioning of the US SEC Chair Gary Gensler by the Financial Services Committee. What About SEC’s Crypto Unit? Under the SEC’s Division of Enforcement, the Crypto Assets and Cyber Unit is responsible for protecting investors in Crypto Market s and from cyber-related threats. In recent times, the agency focused on increasing the manpower in the crypto unit, amid heightened enforcement actions against the businesses like Binance and Coinbase.  In May 2022, the SEC allocated 20 additional positions to the unit, in an effort to boost the enforcement actions. However, the latest letter addressed to Gensler by Chair Comer did not mention employees in the enforcement di...