The UK financial firm claimed on Monday that the “crypto winter” was over. He made a $100,000 prediction for the Bitcoin price at the end of 2024.

UK based banking and financial services firm Standard Chartered said the “crypto winter” is now over. Experts making 6-digit predictions for Bitcoin price by the end of 2024.

Geoff Kendrick, head of digital asset research at Standard Chartered, said in a note that Bitcoin could profit from factors such as recent plots in the banking industry, securing risk assets as the US Federal Reserve eliminates rate hikes, and increased profitability of crypto mining.

Bitcoin Could Reach $100,000 This Year

In recent years, BTC has taken the financial world by storm. It attracted significant amounts of both its focus and traders. However, throughout the process, it has seen its fair share of ups and downs. In his new analysis, a trader named BitQuant suggests that the trend will change very soon.

On February 20, BitQuant shared a forecast showing that BTC has completed its final decline before going to the moon. According to the tweet, the talk projection is not expected to see a retest of the 10-week EMA only before it enters an upward phase. If this is accurate, then the new bottom before an all-time high will be 29K-30K

The analyst also predicts that the only significant level of resistance that Bitcoin should break in 2023 is $160,000. The tweet states that Bitcoin has not put up another major resistance this year that requires serious discussion. BitQuant is confident that Bitcoin will reach this level. In his analysis, he says he won’t start to care until BTC reaches this level.

The tweet drew attention from many investors in the Bitcoin community regarding the officials. Some are skeptical of BitQuant’s prediction. Others are that BTC could still face significant volatility in the coming months. However, others see it as a sign of good things to come for Bitcoin, which is more optimistic and visionary.

**BTC’s 12 Hours Long / Short Ratio **

(Source: Coinglass)

BTC Total Liquidations

(Source: Coinglass)

BTC 1 Day Chart

BTC is down 1.22% in the last 24 hours and down 6.24% in the last 7 days.

(Source: Tradingview)

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The Sui Foundation, an organization dedicated to Tier 1 Blockchain Sui, has appointed a general manager to drive the growth of the ecosystem after a prolonged market downturn punctuated by regulatory pressures.

Polygon (MATIC) has written an open letter to EU officials, Coinbase has announced that it will add support for Virtua (TVK) and Dimo (DIMO). 1 million ETH has been withdrawn since the Ethereum Shapella upgrade.

CME Group

CME Group is set to expand its Bitcoin and Ethereum product range from May 22, subject to regulatory approval. The company will offer 14 new derivative options for greater flexibility and risk management, subject to regulatory approval. Currently, CME Group offers standard and micro BTC and ETH contracts. Along with the additional product offering, ten new weekly options will be available for both cryptocurrencies, representing contracts expiring Monday through Friday.

SUI

The Sui Foundation, an organization dedicated to Tier 1 Blockchain Sui, has appointed a general manager to drive the growth of the ecosystem after a prolonged market downturn punctuated by regulatory pressures. Greg Siourounis, professor of economics at Panteion University of Social and Political Sciences in Athens, Greece, and formerly at Barclays Capital, has been appointed to the newly created position. Greg Siourounis will lead Sui’s efforts to grow and develop its user base.

Virtua (TVK) and Dimo (DIMO)

Coinbase has announced that it will add support for Virtua (TVK) and Dimo (DIMO) to the Ethereum network. Trading will begin on April 18, 2023 if the liquidity conditions are met.

Coinbase will add support for Virtua (TVK) and Dimo (DIMO) on the Ethereum network (ERC-20 tokens). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets (@CoinbaseAssets) April 17, 2023

Ethereum (ETH)

The Shanghai and Capella upgrades, known as Shapella, that made unstaking possible for the first time since ETH staking was introduced in December 2020, went live last week, exactly on April 12. Overall, the Ethereum network has faced withdrawals in the last five days since the Shapella upgrade. Colin Wu of Wu Blockchain reported that the total amount of ETH withdrawn has exceeded 1 million, while 368,000 ETH has been deposited.

As of 10:00 UTC+8 on April 17, after the Shanghai upgrade, the total amount of Ethereum withdrawn exceeded 1 million, and 368,000 were deposited. Currently, the number of Ethereum waiting to be withdrawn is 892,000; Kraken regulatory factor and Huobi shareholders change are main… pic.twitter.com/7lUIYAnJ7j

— Wu Blockchain (@WuBlockchain) April 17, 2023

Polygon (MATIC)

As discussions on new regulatory frameworks for cryptocurrency protocol, blockchain, digital asset and decentralized environment are gaining momentum, representatives of Polygon Labs (MATIC), one of the largest Web3 ecosystems, are sharing their views on the critical improvements needed in the EU.

1/ 🚨Today @0xPolygonLabs published an open letter to the EU on Art. 30 of the #DataAct, which could have serious consequences for permissionless smart contracts. @Ledger has joined in proposing amendments to narrow Art. 30 to protect decentralized software development. Read 👇 pic.twitter.com/AZHGCm14sQ

— Rebecca Rettig (@RebeccaRettig1) April 17, 2023

Polygon Labs, the development team that coordinates and oversees the progress of the Polygon (MATIC) Blockchain, has published an open letter to representatives of the European Parliament, the Council of the European Union and the European Commission. The letter addresses proposed changes to Article 30 of the Data Act.

BabyDogeCoin (BABYDOGE)

KuCoin, the world’s leading cryptocurrency exchange, has officially announced that it will now support Baby DogeCoin (BabyDoge) on its platform. According to the announcement, KuCoin has activated the deposit feature for BabyDoge and trading will go live on April 18, 2023 with the BABYDOGE/USDT trading pair.

Cardano (ADA) and XRP

According to a recent report by CoinShares, digital asset investment products saw a surge in inflows last week, with a total of $114 million flowing in. This was the fourth consecutive week of listings, bringing the total amount to $345 million. Strong inflows are evidence of rising sentiment towards the asset class.

Bitcoin remained the primary focus of investors, with an inflow of $104 million. However, there was also a bullish bias towards XRP as $100,000 of additional funds were registered last week. This brings the total entry into XRP this year to $3 million. An unexpected development was the sudden interest in Cardano (ADA) investment products. Cardano entries hit $100,000 last week. The surge in interest in ADA coincided with the largest increase in token price since the beginning of the year, at over 14% on a weekly basis.

Maker (MKR)

MakerDAO founder Rune Christensen has converted a total of 630,000 LDOs to 1,865 MKR (approximately $1.45 million worth) in the past seven days, according to on-chain data. Meanwhile, most of these transactions took place between April 9 and April 11 before the Ethereum Shanghai upgrade.

Shiba Inu (SHIB)

Shibburn announced that the majority of nearly 2 billion.

SHIBs have moved to “inferno” addresses in the last seven days. According to recently shared data, almost all of them were burned by a mysterious wallet in a single transfer.

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Concerns are mounting that Coinbase is the next major crypto exchange to be sued.

As Bittrex is the latest victim of an SEC lawsuit, concerns are mounting that Coinbase is the next major crypto exchange to be sued. According to Bittrex’s official statement, company disappointed with the SEC’s decision to bring an enforcement action against company as part of Chairman Gary Gensler’s larger crusade to drive cryptocurrency out of the United States.

On Monday, the U.S. Securities and Exchange Commission (SEC) filed charges against exchange Bittrex, stating that the Seattle based exchange failed to register with the agency in multiple different jurisdictions and failed to comply with securities legislation.

Following this news, a former SEC official John Reed Stark claimed that another major US stock exchange Coinbase could face similar charges amid widespread regulatory pressure in the country.

John Reed Stark’s tweet: “The SEC has now charged crypto asset trading platforms Beaxy and Bittrex for operating an unregistered national securities exchange, broker, and clearing agency. IMHO, Coinbase is next. Don’t shoot the messenger.”

Company Denounces SEC’s Action

The financial watchdog has recently targeted a range of crypto firms, from small to large, operating in the US. This has taken the form of suspending certain crypto services, such as products that generate returns and lending activities offered by trading platforms, as well as litigation against cryptocurrency exchanges.

Many denounced the SEC’s intrusive scrutiny and criticized its lack of regulatory clarity on cryptocurrencies.

A few weeks ago, the regulator sent Coinbase a Wells Notice announcing that it plans to sue the company for allegedly violating a number of investor protection laws.

Bittrex’s Part of the official statement on SEC Action:

“We are disappointed with the SEC’s decision to bring an enforcement action against Bittrex as part of Chairman Gensler’s larger crusade to drive cryptocurrency out of the United States. The impact of the SEC’s approach of regulation by enforcement will have a chilling effect on not just cryptocurrency in the United States, but on blockchain technology and innovation in general. While in operation, Bittrex provided a trading platform for digital assets. Securities were not offered or traded on Bittrex, nor did Bittrex offer any products that were investment contracts.“

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