As of September 9, 2024, bitcoin is trading at $55,321, recovering from recent lows but facing strong resistance around the $56,000 mark. Oscillators and moving averages show a mixed picture, with signals divided into sell and buy actions.
Bitcoin
Bitcoin price has recovered in the short term, rising from a low of $53,636 on September 8 to $55,614. The 1-hour chart shows a bullish move as several rallies prevail after a dip, supported by increased buying pressure. Volume spiked during the rally, signaling support for the uptrend.

A bitcoin investor has pleaded guilty to underreporting his cryptocurrency profits, including $3.7 million from selling BTC, resulting in a tax loss to the Internal Revenue Service (IRS) of more than $550,000. The Justice Department stressed that taxpayers must accurately report cryptocurrency transactions to the IRS. The bitcoin investor now faces up to three years in prison, along with fines, restitution, and supervised release.

The United Arab Emirates (UAE) regulatory authorities, the SCA and VARA, have signed a cooperation agreement to strengthen the country’s position as a virtual asset hub. The agreement outlines licensing requirements for VASPs, establishes mutual oversight mechanisms, and aims to foster a stable and regulated virtual asset sector in the UAE. Both regulators will work together to ensure compliance with anti-money laundering laws and maintain market confidence.

Openai, the company at the center of the artificial intelligence (AI) revolution, is reportedly seeking to raise $6.5 billion from investors at a valuation of $150 billion. The money will be used to support its need for computing power and other expenses, according to a memo sent to employees last month, according to Bloomberg.
AI Pioneer Openai Seeks to Raise $6.5 Billion in Funding to Expand Demand for Computing Power

Etoro Restricts Crypto Trading in the US for 3 Cryptocurrencies Following $1.5 Million SEC Fine

Etoro USA has agreed to pay $1.5 million to the U.S. Securities and Exchange Commission (SEC) to settle charges that it operated as an unregistered brokerage and clearing house for cryptocurrency trading. Etoro will limit U.S. customers’ trading options to bitcoin, bitcoin cash, and ether, with a 180-day window to sell other cryptoassets. If certain cryptoassets cannot be returned to customers, Etoro will liquidate them within 187 days and return the proceeds.

Web3 security firm Cyvers detected suspicious transactions on the wallet of Indonesian exchange Indodax on September 11. The attack involved more than 150 transactions and an estimated $20.58 million worth of digital assets were allegedly stolen. Some experts suspect that North Korean hacker group Lazarus Group may have been responsible due to the characteristics of the attack.
Indodax hack shows signs of Lazarus group involvement

Kenyan President William Ruto has announced measures to prevent artificial intelligence (AI) from spreading misinformation, alongside the launch of the fifth National Action Plan for the Open Government Partnership. The initiative aims to promote international cooperation on the ethical use of AI. This follows incidents of social unrest caused by AI in 2021 and 2023, and mass protests earlier this year.

Capstone Technology, a UAE-based blockchain and AI company, has raised $5.45 million to fund the development of its GAYA blockchain project. The project aims to create a network for entrepreneurs in the gaming, AI, and entertainment sectors. Capstone Technology plans to use the funds to manage its technology assets, develop Web3 applications, expand regionally, and improve its platform.

Missouri resident Lyell Champagne Jr. was sentenced to three years in federal prison for fraud and tax violations related to cryptocurrency. He and an accomplice attempted to steal money by accessing victims’ bank accounts and filing fraudulent tax returns. Law enforcement has recovered most of the stolen funds. Champagne pleaded guilty to multiple charges in June, while his accomplice awaits sentencing in September.

Ron Paul, former US representative and presidential candidate, has argued that even when it comes to proposals from the highest levels of power, government efficiency is a paradox. Paul explains that government is impersonal and cannot be rationally economized, because its decisions are based on politics and can never be “efficient”.
Ron Paul Criticizes Proposed Musk-Led Efficiency Commission: Government Can Never Be Efficient

According to Liminal, Grant Thornton’s review of Liminal’s infrastructure found no indication of any security breach in the company’s front-end or back-end systems. Following the Wazirx breach that resulted in the theft of more than $230 million, internal and third-party investigations at Liminal identified data discrepancies, although no security vulnerabilities were discovered. The company stressed that it does not have the ability to initiate transactions on behalf of customers, emphasizing its security protocols.

Economist and gold bug Peter Schiff has sounded a note of caution about the Federal Reserve's latest actions, linking the dramatic rate cut to rising gold prices and a weakening US dollar. His warnings of a deeper recession and rising inflation add to concerns about future economic stability. "Game over for the Fed," Schiff stressed.

The Bank of Russia aims to open its payment infrastructure for Russia’s central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by that date, with smaller institutions to follow. The initiative is aimed at improving payment efficiency and reducing costs, with retailers also being asked to accept the digital ruble. A pilot program is currently underway involving banks, individuals and businesses.

The Nigerian government has filed criminal charges against four individuals and several companies for allegedly conducting illegal cryptocurrency transactions, including converting USDT to naira, without a banking license. The four are Ejiogu A.
Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley and Chukwuebuka F. Ogumba. The defendants are accused of violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.

New BRICS payment platforms, which offer alternatives to the US dollar and the euro, are attracting global attention, Russian Foreign Minister Sergey Lavrov said. These systems allow countries to conduct economic activities without relying on currencies used as political tools by Western powers. The Russian official noted that there is growing interest in these platforms as a way to avoid US and Western sanctions, with some countries joining BRICS initiatives in search of financial independence.

Every now and then, we like to mix things up by running a fun experiment with various artificial intelligence (AI) chatbots to predict the future prices of bitcoin, ethereum, gold, and even the 2024 election results. Three months ago, we tested eight different chatbots, asking them to predict where the price of gold and silver would fall by the end of the year. Since gold has seen quite a bit of value increase since then, we figured it was the perfect time to run the experiment again and see what insights the bots could provide this time around.

Saudi minister hints at 86 million tonnes of Petroyuan, says country is 'open to new ideas'

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that although the yuan – the use of the Chinese currency to pay for oil shipments – is not “critical to the ministry,” the country is open to new ideas and tries not to mix politics and commerce. This is a reference to the use of the yuan for this purpose.

DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) cryptocurrency options and structured bonds trading for institutional clients in the fourth quarter of 2024.
The new service will give institutional investors access to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization.
The initiative aims to provide sophisticated tools for managing digital asset portfolios, including hedging against market volatility.