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The use of Artificial Intelligence (AI) for price predictions is growing in popularity in the cryptocurrency market. With that in mind, the GNY Range Report team decided to test whether its model could make better predictions than crypto traders. GNY Range Report uses technical analysis indicators to generate price range predictions for cryptocurrencies with a machine-learning LSTM model. Results were shared on November 2 on the project’s website. For the mentioned test, the team launched a Bitcoin (BTC) price prediction competition to forecast BTC’s price closure on October 27. In this contest, crypto traders made different guesses daily from October 23 to October 25. There was a total of 206 predictions, of which 56 had a higher accuracy than the 3% observed from the artificial intelligence. This means that 56 traders predicted a price within a 3% variation from the final result. Cryptocurrency Machine learning algorithm sets ETH price for November 30, 2023 ...

Ripple (XRP), Litecoin (LTC) and Stellar (XLM) gained bullish momentum over the past 24 hours as the global crypto market cap turned green after last week’s “bloodbath.” According to data from Santiment, the social volumes of LTC, XRP and XLM have skyrocketed over the past 24 hours. This led to short-term gains for the three cryptocurrencies, leading the top altcoins. After # crypto market caps dropped sector-wide last week, several #altcoins are scratching their way back, particularly $LTC, $XRP, & $XLM. With market value to realized value metrics continuing to show traders are down big, don't be surprised if the trend continues this week. pic.twitter.com/cX8q9Tcu7B — Santiment (@santimentfeed) August 21, 2023 Moreover, the brief rally came while the global crypto market capitalization registered a 0.3% gain over the past day. According to CoinMarketCap (CMC), the total market cap rose from $1.05 trillion on Aug. 20 to $1.06 trillion at the time of writing. ...

The founder of Blur has defended the NFT exchange’s token incentive system amid concerns that the platform is contributing to a decline in average NFT prices. Since its meteoric rise against competitor OpenSea earlier this year, Blur has created an NFT trading frenzy. Some users trade NFTs for the purpose of acquiring Blur tokens, in a practice called farming. However, as many NFTs depreciate in value in this year’s brutal bear market, some traders are racking up major losses — sometimes exceeding $10 million. This has led to widespread criticism of the exchange. Recently, crypto investor and entrepreneur Trevor Owens argued that whales with ample liquidity could accumulate Blur tokens by bidding and then take loans on the NFTs bought — only to re-bid again with the loans they’ve taken. As whales bid more at lower prices, floor prices come crashing down . According to Owens, this could “wipe out” the total NFT market cap. Blur founder Tieshun Roquerre, known as P...

Bitcoin price stages a sudden comeback from its lowest levels since mid-March. Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators. BTC/USD 1-day candle chart on Bitstamp. Source: TradingView Analyst sees Coinbase marking BTC price low Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached $26,250 on Bitstamp. The pair had dipped to nearly three-month lows of $25,350 earlier in the day amid news that the U.S. Securities and Exchange Commission (SEC) was suing exchange Coinbase. An accompanying press release referred to acting as an unregistered broker "engaging in an unregistered securities offering through its staking-as-a-service program" beginning in 2019. The move followed legal proceedings against the U.S. arm of largest exchange Binance the day prior, this having a much more pronounced impact on crypto markets. "Despite SEC lawsui...

This week’s BTC options expiry could play a decisive role in Bitcoin price potentially trading below the $26,000 level. Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector. In a memo circulated among committee members, Democrats in the United States legislature sought to cement the SEC’s authority over crypto. The document was made public on May 10, including the argument that nearly all digital assets constitute securities. Moreover, according to Gensler’s view, even network nodes are in violation of securities laws. The United Kingdom’s Treasury Committee “strongly recommended” on May 17 regulating retail crypto trading and investment activity as gambling, consistent with the principle of “same risk, same regulatory outcome.” Treasury Committee Chair Harr...