The DAO-centric event took place in Athens, Greece over two days and focused on everything from governance and legal issues to community building and security.
Arbitrum DAO passes $23M extra budget to fund all grant applicants
The Arbitrum community is expanding its grant program budget to over $70 million, supporting a total of 56 projects.
ZK community aligned with the core Web3 mission: ZkDay Istanbul roundup
The ZkDay Istanbul event offered exposure and networking opportunities to new and upcoming ZK-based projects and entrepreneurs.
dYdX founder claims targeted attack led to $9M insurance claim
dYdX founder Antonio Juliano said that the decentralized exchange as well as the Yearn.Finance token (YFI) are victims of a targeted attack.
Small Islands, big problems: Can Bitcoin fix this? Cointelegraph Cape Verde video
A small island nation in the Atlantic Ocean grapples with a cash economy influenced by tourism, remittances and limited resources. Can Bitcoin help?
Reddit removes moderators involved in alleged insider trading of MOON tokens
On Oct. 18, Reddit closed its blockchain-based points program that involved the use of certain crypto tokens native to subreddits.
DeSci-focused DAO community funds cancer research
VitaDAO community agreed to fund early-stage cancer research through the launch of a biotech company named Matrix Biosciences.
Bitcoin Path To $70,000? Analyst Shows What This ‘Head And Shoulders’ Pattern Reveals
Bitcoin, the leading digital asset in terms of market cap and adoption, recent activity on its price chart has led to speculation and predictions about its future trajectory.
Acclaimed cryptocurrency trader, known as Mags on the X (formerly known as Twitter) platform, recently shared his analysis on Bitcoin, suggesting a significant price surge for Bitcoin soon.
The Bitcoin ‘Head And Shoulders’ Insight
According to Mags, Bitcoin’s journey to a $70,000 price tag is foreseeable. His deduction stems from observing an inverted ‘Head and Shoulders’ pattern on Bitcoin’s price chart. Notably, this is a predictive tool in technical analysis that indicates potential price reversals based on prior movements.
Mags highlighted that Bitcoin’s price is currently at the so-called ‘neckline’ of this pattern. If the pattern holds and Bitcoin breaks out from this neckline, it could be a bullish indicator for the flagship cryptocurrency.
#Bitcoin is going to $70,000 ??
BTC is forming a massive Head and Shoulder pattern on the inverted chart price is currently testing the Neckline
The Technical target of the pattern, if measured from the neckline, is around $70,000 pic.twitter.com/owLPorGK5j
— Mags (@thescalpingpro) October 13, 2023
Mixed Reactions In The Community
Sergey Stolyarov, a user on X, expressed skepticism over the said pattern’s significance. In Stolyarov’s view, the construction and structural reasons don’t qualify the observed pattern as a ‘Head and Shoulders.’
Stolyarov added that such formations could be discerned at any time and any part of the Bitcoin chart, implying the ubiquitous nature of pattern formation in volatile markets.
Another user criticized Mag’s interpretation of Bitcoin’s price chart, emphasizing that a genuine “Head and Shoulders” pattern exists on the regular chart that predicts a price decline to 20,000. The user noted:
nope – bitcoin actually formed a picture head and shoulders on the NOT inverted chart but you were so biased that you have to hunt for head and shoulders that it’s a shitty one on inverted bitcoin chart so you don’t have to look at the head and shoulders. It is also very large and points to a target of 20,000 short term.
However, while some users sided with Mags, others took a more critical approach. Resham Singh, another member of the X platform, voiced appreciation for Mags’ analytical approach, deeming it “impressive.” Singh seemed to align with Mags’ projection, hinting that such a price movement would mark a milestone for Bitcoin.
Featured image from Unsplash, Chart from TradingView
Reddit’s Fortnite Token BRICK More Than Doubles After Two-Months of Decline
Bricks (BRICK), the native token of Reddit’s Fortnite community, surged by 100% over the past 24-hours following a two-month downswing that saw it lose more than 80% of its value.
Elon Musk told to dump Satoshi ‘X’ account: crypto community
The crypto community has asked Elon Musk to remove the X account under the name of Satoshi Nakamoto claiming it is in breach of the platform’s terms of use.
Binance successor in Russia: Everything you need to know about CommEx, so far
The sale has sparked chatter among local crypto enthusiasts, who say the two sites appear so similar that CommEx could be a “Russian version” of Binance.US.
Friend.tech look-alike ‘Alpha’ emerges on Bitcoin network
A new social token network called Alpha has emerged, rivaling the popular Friend.tech platform but built on top of the Bitcoin blockchain.
The Truth Behind Cuba’s Bitcoin Revolution: Video
Cointelegraph’s latest documentary takes viewers to Cuba, the land of classic cars, communism, hyperinflation and Bitcoin.
OKX Planning Web3 Foray Into India, Chief Marketing Officer Says
OKX, one of the biggest crypto exchanges by trading volume, is planning to enter India to explore potential Web3 applications.
Iman Europe and The Agenda chat mental health, music, Web3 and The Homies DAO
Musician and The Homies DAO founder Iman Europe sat down with The Agenda podcast to discuss how her Web3-based project promotes wellness among music workers.
Crypto users react to death of Shiba Inu behind viral memes
The 12-year-old dog had appeared in memes with Dogecoin’s own inspiration, the Shiba Inu named Kabosu, including ‘Swole Doge vs. Cheems’.
Satoshi-era Bitcoin awakens – 1005 BTC mined in 2010 on the move
1,005 BTC valued at $29 million have been moved from an old Bitcoin wallet after 13 years, drawing parallels to recent dormant BTC movements.
Prime Trust bankruptcy spotted by crypto community months ahead
Months before Prime Trust filed for Chapter 11 bankruptcy, online sleuths in the crypto community were on the case and continue to follow the money.
Twitter Community Notes hits 44 countries as Elon Musk seeks ‘truth’ for X
Contributors from 44 countries are tasked with vetting the information being shared on posts that draw greater attention and are often subject to being picked up by mainstream media.
Worldcoin launch divides opinions — Crypto community has its say
“What could go wrong?” Decentralized ID protocol Worldcoin has launched, receiving mixed reactions from the cryptocurrency community.