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🔥 Robert F. Kennedy Jr proposes putting the 2024 US budget on blockchain United States presidential candidate Robert F. Kennedy Jr. has proposed to put the nation’s 2024 budget on a public blockchain. During his April 21 rally in Michigan, Kennedy said that putting the U.S. budget on the blockchain would allow Americans to access any budget item at any time. According to Kennedy, integrating the budget with blockchain technology will significantly increase transparency. He exemplified this by stating, “If somebody is spending $16,000 for a toilet seat, everybody’s going to know about it.” If the proposal comes to fruition, American taxpayers will be able to track where funds are being spent. The idea was well-received by some corners of the cryptocurrency community, with some claiming it would end corruption. “Putting the entire US budget on blockchain would be transformative. I don’t believe in silver bullets, but this is as close as one gets to one,” wrote one X user. Another user pointed out that “public accounting might be the best use case for blockchain tech,” in addition to supply-chain implementations. You might also like: Presidential candidate Kennedy warns against CBDCs, labels them a threat to civil liberties However, some critics of the notion claim that Kennedy is using this proposal to promote his central bank digital currency (CBDC) agenda. According to X user Jeremiah Harding, it isn’t possible for a government to track all budget transactions without implementing a “different unit of currency” like a CBDC. Interestingly, Kennedy, who is a prominent advocate for decentralization, has previously expressed concerns regarding the launch of a CBDC in the U.S. Back in Jan. 2024, he described a CBDC as “a calamity for human rights and for civil rights.” ❤️ If you find this information helpful, consider supporting me through the Binance Tipping feature. Your generosity helps me provide quality content.
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Latest news Bitcoin Altcoins X (Twi Ethereum Price Signals Reversal and $3,400 Is Imminent, Here’s Why Ethereum price is gaining pace above the $3,120 resistance zone. ETH could continue to move up unless there is a daily close below the $3,030 level. Ethereum extended its increase above the $3,150 resistance zone. The price is trading above $3,150 and the 100-hourly Simple Moving Average.$ALT There is a connecting bullish trend line forming with support at $3,160 on the hourly chart of ETH/USD (data feed via Kraken).$ETH $BTC The pair could continue to move up unless the bears push it below the $3,030 zone. Ethereum Price Extends Increase Ethereum price started a recovery wave and was able to clear the $3,000 resistance, like Bitcoin. ETH even climbed above the $3,050 and $3,120 resistance levels to move into a positive zone. It traded to a new weekly high at $3,234 and is currently consolidating gains. There was a minor decline below the $3,200 level. Ether dipped below the 23.6% Fib retracement level of the recent increase from the $3,120 swing low to the $3,234 high. Ethereum is now trading above $3,150 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,160 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the recent increase from the $3,120 swing low to the $3,234 high. Immediate resistance is near the $3,210 level. The first major resistance is near the $3,235 level. The next key resistance sits at $3,280, above which the price might gain traction and rise toward the $3,350 level. Source: ETHUSD on TradingView.com A close above the $3,350 resistance could send the price toward the $3,500 resistance. If there is a move above the $3,500 resistance, Ethereum could even test the $3,550 resistance. Any more gains could send Ether toward the $3,720 resistance zone in the coming days.
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Fidelity Digital Assets has revised its medium-term outlook for Bitcoin $BTC from “positive” to “neutral” following the first quarter, citing several metrics that suggest Bitcoin is no longer considered “cheap” amid a potential build up of sell pressure. In its latest Signals report released on April 22, Fidelity Digital Assets cited the Bitcoin Yardstick, or Hashrate Yardstick, which works in the same way as the Price-to-earnings ratio is used in stocks, except in this case, it is used to determine if Bitcoin is undervalued. Fidelity noted that the Yardstick remained between a negative one and zero deviations from the mean of 51% in the first quarter, meaning there were “zero days on Q1 where Bitcoin was considered 'cheap.'” This would suggest that Bitcoin is now trading at “fair value,” said Fidelity, which has now revised its medium-term outlook for Bitcoin to neutral. Other metrics it cited that added to its neutral outlook was the fact that long-term holders are adding to sell pressure, while 99% of addresses are in profit, which “could incentivize selling.” Other on-chain metrics backing up the firm’s revision to a neutral outlook in the mid-term included the Net Unrealized Profit/Loss (NUPL) ratio and the MVRV Z-Score, which is used to assess when BTC is over or undervalued relative to its “fair value.” The investment firm, however, has maintained its positive short-term outlook for Bitcoin, saying there was “some potential for short-term profit-taking” at the end of Q1, 2024, but added there were “no extreme indicators that are commonly seen during bull market peaks.” The company cited price levels remaining above a “golden cross” on the Bitcoin chart with the asset trading above its 50-day and 200-day moving averages throughout Q1, indicating bullish momentum. “We believe on-chain indicators are now clearly above the lows or extreme bottoms previously observed,” said the firm’s director of research Chris Kuiper in a post on X on April 23. Tips please.
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