Author: Dren.H

Recent studies show that prompting AI with future narratives improves predictions accuracy, though issues with reliability and AI-generated content persist. Artificial intelligence (AI) continues to revolutionize various fields, including predictive analytics. Recent studies suggest that a novel approach to prompting AI, like OpenAI’s ChatGPT, may enhance its predictive abilities. This method involves instructing the AI to create stories set in the future and retrospectively describe events. Such narrative techniques seem to yield more accurate predictions compared to traditional direct questioning. Enhancing AI Predictions with Storytelling Researchers evaluated over 100 different prompts to determine the most effective method for extracting accurate…

Binance launches ‘Megadrop,’ a new Web3 loyalty program featuring airdrops, quests, and rewards for long-term user engagement. Binance has rolled out its new incentive and rewards program named ‘Megadrop.’ This program merges the concepts of airdrops and quests into a comprehensive loyalty system, catering primarily to users of Web3 technologies. Binance, a leading player in the cryptocurrency exchange market, aims to elevate user engagement through this innovative platform. Megadrop allows participants to lock Binance’s native BNB token in specific products or engage in various tasks through their Web3 Wallet. This engagement grants them early access to rewards from emerging Web3…

The IRS releases a draft form for reporting digital asset transactions, sparking industry debate and highlighting compliance challenges. In an important development, the US Internal Revenue Service (IRS) has released a draft version of Form 1099-DA, designated for the reporting of income from digital asset transactions. Set to be implemented in 2025 for use in 2026, this form is a significant step in the IRS’s ongoing efforts to streamline crypto tax compliance. The new Form 1099-DA, labeled “Digital Asset Proceeds from Broker Transactions,” will require brokers to prepare and send reports for each customer engaged in selling or exchanging digital…

XRP price rises 5.55% as investors shift focus from Bitcoin following its halving, attracted by its undervalued status. In today’s cryptocurrency market, Ripple’s XRP stands out with a notable price increase, rising 5.55% to hit a high of $0.526. This surge occurs just a day after Bitcoin completed its fourth halving event, which saw its price dip by 0.5% to $64,655. Despite the overall market capitalization of cryptocurrencies experiencing a slight decrease of 0.16%, XRP’s gains highlight its resilience and appeal to investors during a period of general market downturn. The phenomenon of “sell-the-news,” often observed in assets that spike…

Post-halving event, experts predict Bitcoin price could exceed $200,000 by 2028, despite concerns about mining profitability and network security. From the recent Bitcoin halving, which reduced mining rewards from 6.25 to 3.125 BTC per block, industry experts have begun forecasting the potential price of Bitcoin by the next halving event in 2028. Historical data suggests that halving events, which decrease the supply of new Bitcoins entering the market, typically precede significant price increases. Analysts predict that by 2028, Bitcoin’s price could reach unprecedented levels, possibly exceeding $200,000. Swyftx’s lead analyst, Pav Hundal, references historical trends to support predictions of substantial…

Bitcoin’s fourth halving event enhances its scarcity, positioning it as a viable digital alternative to traditional value stores. The crypto world witnessed the completion of Bitcoin’s fourth halving event, a significant economic procedure that took place at the 840,000th block. This process has drastically reduced the block reward from 6.25 BTC to 3.125 BTC, marking a pivotal moment in Bitcoin’s approach to managing its supply. This deliberate reduction in the rate at which new Bitcoins are created every four years is essential for fostering scarcity and enhancing its value over time. Historically, Bitcoin’s protocol includes a feature that is akin…

Bitcoin ETFs in the U.S. see $30.4 million in inflows ahead of the Bitcoin halving, reversing a week-long outflow trend. In terms of U.S. exchange-traded funds (ETFs), the Bitcoin sector has witnessed a significant reversal of fortune. After enduring a week-long sequence of outflows, the market saw substantial inflows amounting to $30.4 million into various Bitcoin ETFs. This shift in investment dynamics arrives on the cusp of the highly anticipated Bitcoin halving event, and it notably disrupts a prior streak of capital withdrawal that persisted from April 12 to April 18. The latest data, analyzed from Farside, highlights that between…

The 2024 Bitcoin halving sets a bullish price forecast, buoyed by historical trends and growing institutional investment through ETFs. As the Bitcoin community celebrated its fourth halving on April 20, 2024, expectations soared regarding the cryptocurrency’s price trajectory. According to experts, the historical data and the current market conditions suggest that Bitcoin could be gearing up for its most bullish cycle yet. This optimism stems from several key developments, including the performance of Bitcoin leading up to the halving event and the increasing participation of institutional investors through spot Bitcoin exchange-traded funds (ETFs). Historically, Bitcoin has demonstrated a propensity to…

The 2024 Bitcoin halving is distinguished by unprecedented user growth, institutional investment, and significant pre-halving price surges. Bitcoin’s 2024 halving marks the fourth occurrence of this event, but it stands out from its predecessors in several key ways. Historically, Bitcoin halvings lead to a price increase. However, it remains to be seen if this trend will continue. One thing is certain: the dynamics around this halving are uniquely different, influenced by a significant rise in crypto users and substantial institutional investments. User Growth and Institutional Investment Since the last halving in May 2020, the global crypto user base has seen…

Bitcoin users spent a record $2.4M in fees on the 2024 halving block amid the launch of Runes Protocol. In a historic event for the cryptocurrency world, Bitcoin users have poured an unprecedented amount of money into transaction fees during the mining of the 2024 halving block. The fees reached a remarkable total of $2.4 million or 37.7 Bitcoin, as enthusiasts and investors vied for a spot in this crucial block. The event took place at 12:09 AM UTC on April 20, when the Bitcoin mining company ViaBTC successfully mined block number 840,000. This block marked the fourth halving event…