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Ripple's CEO Criticizes New York Times for Biased Crypto Reporting Ripple CEO, Brad Garlinghouse, lambasted The New York Times (NYT) for publishing what he termed as skewed and misleading narratives about the crypto industry, pointing to a piece on the SEC's lax crypto enforcement under Trump's second term. Garlinghouse condemned the NYT for recycling this narrative while disregarding significant court rulings that questioned the SEC's approach during the Biden administration. He accused the paper of spreading "half-truths and outright omissions" to support a so-called "illegal War on Crypto" initiated by the previous administration. Alex Thorn, head of research at Galaxy Digital, echoed Garlinghouse's sentiments, saying the NYT's coverage was based on a false premise and accused it of promoting "crypto dementia" by relying on an uninformed readership.
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Forecast for Bitcoin: Six Figure Valuation Before Downturn, Asserts Analyst Cryptocurrency prices have been experiencing a downturn as investors retrench due to upcoming U.S. economic data. Bitcoin's value slipped to about $85,300 before a slight rebound to nearly $86,200, marking a 4% drop over the past week. Meanwhile, market analyst Doctor Profit predicts a possible short-term rebound for Bitcoin, potentially revisiting the $97,000-$107,000 range before a deeper correction. Despite this potential upside, Doctor Profit maintains a bearish outlook, advising traders to exercise extreme caution due to Bitcoin's instability. Concurrently, another analyst, Mr. Wall Street, forecasts a deeper drop to $54,000-$60,000 by Q4 2026. Other Wall Street analysts have also revised their Bitcoin forecasts downwards. However, Wise Crypto believes that easing US monetary policy and political tailwinds could drive Bitcoin towards the $300,000-$600,000 range in 2022.
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Will Ethereum Reach $4K or Drop to $2K? Four AI Chatbots Weigh In on Christmas Predictions Ethereum's (ETH) value, currently around $3,100, has fluctuated greatly in recent months. As the end of the year approaches, speculation is rife about whether ETH will rally to $4,000 or crash to $2,000. Four popular AI chatbots were consulted for their predictions. ChatGPT suggested that a rally to $4,000 is more likely, citing historical data and recent volatility-induced caution in traders. Grok also dismissed a crash to $2,000 as unlikely unless prompted by a significant event such as regulatory crackdowns or macroeconomic shock. Perplexity agreed, pointing out that while bearish risks remain, a drop to $2,000 would require a major shock. Finally, Gemini, Google's AI, described the prediction as a million-dollar question, suggesting that a rally to $4,000 could be triggered by FOMO or a broad market "Santa rally", but did not rule out a drop to $2,000 under certain conditions.
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What Triggered the $140 Billion Rout in Cryptocurrency Markets in Just Hours? The total market capitalization of cryptocurrencies is on the brink of falling below $3 trillion after a $140 billion withdrawal from the sector within a few hours. Bitcoin led the decline, losing almost $5,000 in just several hours. Analysts have attributed this crash to various factors, including tightened regulations on domestic Bitcoin mining in China and high open interest in derivatives markets. However, the primary cause appears to be the delay in crypto market structure legislation in the United States. The US Senate Banking Committee announced that the key bipartisan legislation, which gives the CFTC authority over spot markets, would not be marked up this year, thus postponing it until Congress reconvenes in early 2026.
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