CryptoNews
– Undoubtedly, the recent arrest of Pavel Durov, the programmer,creator, and owner of the Telegram messenger, has become the event of the pastfew days. The billionaire was detained on 24 August at Le Bourget Airport inParis, where he had arrived by private jet from Azerbaijan. At the time,Russian President Vladimir Putin was on an official visit to the Azerbaijanicapital, Baku. According to one version, Durov sought to meet with him but wasrefused.
According to media reports, the detention at Le Bourget is linked to aninvestigation being conducted in France regarding the Telegram messengercreated by Durov. Investigators believe that the lack of moderation andinsufficient cooperation by the messenger's administration with the country'sauthorities have complicated the fight against drug trafficking, moneylaundering, fraud, paedophilia, and other offences, leading to the commissionof a "wide range of crimes" on the platform. In addition to his Russiancitizenship, Pavel Durov holds citizenships of Saint Kitts and Nevis, the UAE,and France. As a French citizen, he is obliged to cooperate with the country'sauthorities.
The incident has sparked a strong reaction worldwide. Some influencershave accused the French authorities of attempting to restrict citizens' rightsand freedom of speech, while others have supported their actions. Commentatorsalso note that Durov's arrest could pose a significant problem for Russia, ashis Telegram application is one of the primary communication channels forRussian troops in Ukraine. Moreover, the messenger is also actively used by theRussian authorities, including members of the Government and Parliament, andtheir correspondence may contain highly important and top-secret information.
For reference: Pavel Durov was born in 1984 in Saint Petersburg.Immediately after graduating from university, he created the social networkVKontakte, which is currently the largest in Russia. In 2014, it became knownthat due to pressure from the Russian security services, he was forced to sellVKontakte and leave the country. As the entrepreneur stated, "I'm afraidthere is no way back for me, especially after I publicly refused to cooperatewith the [Russian] authorities." And now he is facing new problems: thistime due to his refusal to cooperate with the French authorities.
– Samson Mow, a bitcoin maximalist and one of the most prominent figuresin the crypto industry, has surprised many by drastically lowering his BTCprice forecast by tenfold. Just recently, in July, Mow announced that theleading cryptocurrency would reach $1 million within a year. However, in a newcomment, he stated that "as long as the bitcoin price remains below $0.1million, coins are being sold at a discount." This has led the cryptocommunity to believe that he may have lost faith in a strong bull rally. The$0.1 million figure refers to $100,000. In other words, anything below thisfigure is considered a discounted price, while $100,000 is deemed the fairvalue according to Mow.
For reference: Samson Mow is a crypto investor, entrepreneur, blogger,and TV host. He was the CEO of the blockchain company Pixelmatic and the ChiefStrategy Officer at Blockstream. Currently, he serves as the CEO of JAN3 andCEO of Pixelmatic.
– Inflation is one of the key indicators influencing the monetary policyand the Federal Reserve's interest rate decisions in the United States. These,in turn, are among the primary factors determining the attractiveness ofcryptocurrencies to investors. A further confirmation of this was provided bythe dovish speech given by Jerome Powell, the Chairman of the U.S. FederalReserve, at the Annual Economic Symposium in Jackson Hole (USA) on the eveningof Friday, 23 August. Powell did not rule out the possibility of a gradualreduction in the interest rate for the remainder of the year. The marketreacted to this with a drop in the DXY Dollar Index to 100.60 and a surge inthe BTC/USD pair by nearly 7%: from $60,800 to $65,000.
– After the surge to $65,000, the rally did not continue. According toanalysts at QCP Capital, the hesitation among market participants regarding thefuture of the leading cryptocurrency acted as a brake, leading traders toquickly lock in profits. In this situation, QCP Capital believes that althoughthe market is showing bullish sentiment, a rapid increase in BTC prices shouldnot be expected for now. For the resumption of significant growth, signalsindicating renewed interest in BTC from major institutional investors arenecessary.
– Anthony Scaramucci has recently stated in an interview with CNBC thatthe bullish reversal for bitcoin accelerated this year after the U.S.Securities and Exchange Commission (SEC) approved spot BTC ETFs. According tothe expert, this is the most successful launch of exchange-traded funds inhistory. The SEC's approval of such funds has increased the legitimacy of thecrypto asset. The entrepreneur added that BTC ETFs remain a catalyst for thegrowth of the leading cryptocurrency, as the number of traditional investors inthe crypto market has significantly increased. Bitcoin, he said, will continueto be an effective store of value despite the 30% increase in the price of goldover the past two years.
Previously, the head of SkyBridge Capital predicted that digital goldwould reach $100,000 by the end of 2024. However, he now warns that achievingthis target might be delayed due to regulatory uncertainty and the increasingfrequency of crypto fraud. "I might be wrong about the timing, not theactual outcome. I truly believe bitcoin will reach $100,000; it will just takemore time," he wrote.
For reference: Anthony Scaramucci is a financier and the founder ofSkyBridge Capital. He is also known for his record-short tenure as the WhiteHouse Communications Director, a position from which he was dismissed bythen-President Trump after just 10 days.
– Renowned macroeconomist Henrik Zeberg is convinced that a recession inthe United States is inevitable and could occur as early as the fourth quarterof this year. Moreover, he believes it will be the worst recession since theGreat Depression of 1929. According to Zeberg, the upcoming bear market willunfold in two stages: a deflationary phase followed by stagflation, with anintermediate rebound as the Federal Reserve intervenes in 2025. This will befollowed by what he calls the "blow-off top," where prices soar tounsustainable levels and then plummet rapidly.
Alongside this forecast, Zeberg has revised his target figures for stockindices and bitcoin upwards. According to his BlowOffTop business cycle model,the price of the leading cryptocurrency is expected to rise to $115,000-120,000by the end of 2024. However, the economist warns that this will be ashort-lived surge.
– Robert F. Kennedy Jr. has withdrawn from the U.S. presidential race,announcing his support for Donald Trump. The former presidential candidateadmitted that if Trump were to win, he would be willing to lead the CIA.American media outlets are speculating that Kennedy Jr. might join Trump'scampaign and possibly even his team. Following this, users on the decentralizedprediction platform Polymarket have wagered $87 million, indicating a 51%likelihood that the Republican candidate will become the next President of theUnited States. The chances for the Democratic candidate, Kamala Harris, havedropped to 48%.
Like Trump, Kennedy Jr. positions himself as a crypto-friendlypolitician. As for Kamala Harris, she continues to refrain from expressing herviews on cryptocurrencies, which could negatively impact her campaign in thefuture. According to analysts at Coinbase, digital asset holders andcryptocurrency supporters could significantly influence the election outcome.
– On 25 August, Michael van de Poppe, the head and founder of MNTrading, noted that bitcoin has not yet definitively broken out of the"lower range" between $61,000 and $62,000. According to him, this isa crucial level for confirming a rally towards BTC's all-time high. The traderalso pointed out that the prevailing bearish sentiment has caused Ethereum tosharply decline against bitcoin, with the ETH/BTC pair reaching new lows.However, van de Poppe believes that sentiment will soon shift, leading to the beginningof an altcoin season.
Earlier, specialists at CryptoQuant also stated that the correction inEthereum's price is nearing its end. According to their forecasts, the asset isexpected to soon experience a price surge.
– At present, the market capitalization of the leading cryptocurrency,bitcoin, is approximately $1.27 trillion, which is about 3.8 times higher thanthat of the main altcoin, Ethereum, at around $330 billion. Nick Tomaino, CEOof the crypto investment firm 1confirmation, believes that "both assetswill continue to grow, but ETH will surpass BTC within the next five years. Thereason is simple. Bitcoin has a straightforward narrative (digital gold), whichhas already attracted institutional investors. Ethereum, on the other hand, hasbeen the most influential blockchain in the industry over the last five years,but it remains not fully understood." This latter factor, according toTomaino, will be the driving force behind the altcoin's rise.
"Since Ethereum's market capitalization is currently significantlylower than bitcoin's, Wall Street can acquire a larger amount of ETH. They willdo so and aggressively promote the asset in the coming years," Tomainowrites. The analyst also believes that the value of Ethereum will be bolsteredby the technological advancements of its network and its popularity as theleading smart contract platform.
– According to a survey by Date Psychology, the majority of women (77%)find cryptocurrency enthusiasts to be unattractive. The only group viewed lessfavourably are those who collect Funko figures (toys dedicated to charactersfrom films, comics, cartoons, etc.). This may be due to the perception thatwomen consider digital assets to be unserious and, as a result, project thisview onto men who are involved with them.
The most attractive hobbies among male respondents were reading,learning foreign languages, and playing musical instruments. However, othersurveys indicate that women working in the crypto industry often achievegreater success and frequently hold higher positions than their malecolleagues.
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