Of course, today at lunchtime we also look at the live Bitcoin price and the prices of the top 25 crypto. In addition, we take a look at what bull opportunities Terra (LUNA) is facing. We also see problems at Coinbase. Finally, we look at how the SEC is coming under increasing fire from crypto.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price recovers quickly, sentiment of top 25 crypto also positive again
At the time of writing, the live Bitcoin price is quoting EUR 34,155.90 ($38,836.58). This is 3.17% higher than during yesterday’s crypto lunch.
The prices of the top 25 crypto are also continuing their recovery. Apart from the stable coins, we only see strong rising prices. The biggest gain of the day is currently for Terra (LUNA) with + 13.21%, but more on that below. On the site of Tradeincrypto.com you can analyze live crypto prices 24 hours a day.
Terra (LUNA) continues to rise, many more opportunities for bulls
We currently see that the Terra Luna (LUNA) is consistently found among the best daily results. This is due to strong support. We can see this on the one hand from the data from investors. According to the team behind the coin, investors bought $1 billion worth of tokens to finance further technical developments. The money is spent on a UST Forex Reserve fund to cover the TerraUSD (UST).
Technical analyses also show potential for a hefty bull run. A profit target of $92 is even mentioned. However, this seems a bridge too far to reach in one go. According to analysts, there is certainly growth potential up to the first resistance level at $68, which can be broken through. With that, the road to the second resistance level at $ 70 is open. On the other hand, there is, of course, also a short scenario. Analysts estimate this risk to be theoretical. If theory becomes reality, however, they foresee a target price of $32. If we follow the analysts and leave this risk theoretical while looking at the live Terra (Luna) price of $58.02, we see that there are thus considerable opportunities for returns.
SEC increasingly pressured by crypto
The SEC is coming under increasing fire for its approach to the crypto industry. The reason for this is the SEC’s lawsuit with Ripple (XRP) over whether crypto should be considered security for US law purposes. In the beginning many thought that the SEC had a strong case and crypto would be seen as securities, but more and more doubts arise. The judge seems to be understanding of the views of Ripple (XRP).
Former SEC administrator Joseph Hall was a guest on the “Thinking Crypto” podcast. There he shed his light on the case and concludes that Ripple (XRP) may well win this case. You can watch the entire podcast here.
One of the reasons is that it is becoming increasingly clear that the SEC is sending conflicting signals about the position of the crypto market as a whole, as well as individual crypto coins such as Ethereum (ETH) and Ripple (XRP), as securities. This leads to uncertainty and anger in the market.
In his surprise appearance on YouTube in the form of an AMA (Ask Me Anything) session, Cardano (ADA) founder and CEO Charles Hoskinson clearly expressed his thoughts on the SEC and its capriciousness. He, like many in and outside the crypto sector, wonders how the market is supposed to focus on regulation and compliance when a regulator issues unclear and contradictory messages when there are no specific rules on crypto in writing. You can also watch his entire session back, of course.
Many interested parties are therefore waiting to see how the case between Ripple (XRP) and the SEC will end. A ruling favorable to Ripple (XRP) is seen as a favorable ruling for the entire crypto market and will hopefully have a positive impact on the expected regulations.
Fortunately, crypto exchange Coinbase has been hacked….
Crypto exchange Coinbase has been hacked. The hacker managed to purchase 50 Bitcoin for 50 Shiba Inu (SHIB), currently worth $0.0013325. Because this test was conducted through the exchange’s working site, the hacker immediately made his invention worldly known. Coinbase’s webcare team responded within 3 minutes and shut down its platform to undo the crypto transaction and fix the bug.
In the meantime, the bug has been fixed and the hacker has received his (well-deserved) bounty bug (with $250,000.00 the largest payout in Coinbase’s history). Apart from this amount, damage from the trading halt and a bit of free publicity for the hacker, Coinbase suffered no damage. How different this would have been if the hacker had taken maximum advantage of the opportunities. Fortunately, Coinbase was hacked by the right (white hat) hacker.
Twitter won’t load because you didn’t give permission.
Coinbase’s “largest-ever bug bounty”
How a flaw in the new Advanced Trading feature would have allowed a malicious user to sell BTC or any other coin without owning them, and how Coinbase’s reaction speed on a Super Bowl Friday averted a possible crisis.
Bounty: $250,000 pic.twitter.com/Y91M48pCcI
– Tree of Alpha (@Tree_of_Alpha) February 19, 2022
Of course we are curious to see whether the recovery of the crypto market continues. Whether this is the case, you will of course read in our Bitcoin update tonight.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”