Michael Saylor deep fakes, a failed $15B XRP hack, and where to next for Bitcoin?

Bitcoin took quite the hit this weekend So we got predictions from experts on What they think will happen Next good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags steering You through the crypto Cosmos with daily Dispatches from the digital Frontier all that stands between you and The Forefront of this fast moving space Is that follow button so give it a click Okay grab yourself a coffee and let's Get into It so it's a bit of a strange weekend in Crypto many ways so here is the rundown On what happened firstly we got experts To weigh in on whether Bitcoin will keep Dropping as a result of the ETFs Bitcoin And gold had strong 2023 with an Unexpected correlation a hacker tries to Transfer $15 billion worth of xrp and Fails and Michael sailor is removing 80 Deep fake scams per Day unless you really went off grid this Weekend and after the highs and lows of Last week who could blame you you will Know that since the initial price surge After the spot Bitcoin ETF approved Removals by the SEC Bitcoin has been Well falling after hitting $449,000 Bitcoin has fallen to around $2,600 at 7:00 a.m. eastern and analysts Are picking apart why that might be the Case so we decided to ask our writers

And contributors whether Bitcoin will Keep dropping as a result of the ETFs as Well as a few predictions for the future In most things I'm a Believer in the Wisdom of crowds and when it's a wise Crowd that's all the better so here is a Synopsis of each person's take first up We have Tom Blackstone an extremely the Experienced reporter for coin Telegraph And he said history shows that harving Years show very high price increases Compared to the years before them so I Expect Bitcoin to be much higher by the End of this year though June would be Much too soon for a rally to come by the End of the year I expect to hit a new Alltime high Tom went on to explain that He doesn't think the ETF news will have Much of an effect either way after the First few months Lucas key the chief Investment officer at yield app believes We're seeing some sell the news action But only in the short term Lucas also Highlighted that every harving year has Had a rally in the past he also believes We might take a while to break through The $50,000 ceiling and by the end of June Lucas predicts a bitcoin price of Between $50,000 and $60,000 kristos Mcreedus associate research professor at ASU and founder and CEO of dynamic AI Hailed the importance of the spot Bitcoin ETFs and called them a big step For prices of digital assets Christos

Predicted that we will see political and Economic uncertainty and as we know There is always a correlation between Those and bitcoin's price Christos also Said he wouldn't be surprised if by the 30th of June we've seen Bitcoin go north Of $50,000 Ray Salmon Head of markets at Coin Telegraph is a person whose Predictions I was particularly Interested in reading Ray puts bitcoin's Long-term price in the hands of the Inflows to the ETFs and notes that one Area of interest to him is how Institutions reposition their portfolio Allocations to bitcoin Ray believes 50 To $56,000 in the next few months could Be where we see Bitcoin price settle but Warns there are too many factors that Can't be considered that could occur I'd Like to Echo that sentiment and add Beware of the profits claiming to know What's coming next they don't Daniel C Founder and CEO of celix is where it Gets really bullish so let's quote him Directly it's inevitable that Bitcoin Will surge beyond the $100,000 driven by An influx of retail investors this marks A pivotal moment for Bitcoin as it not Only simplifies the investment process By eliminating the need for direct Dealings with cry cryptocurrency Exchanges but also signifies a major Leap towards mainstream acceptance and Regulatory Clarity in the United States

Ethereum on the other hand may not Mirror bitcoin's Ascent I must say that Regulatory Clarity in the US feels to me As if it could be the fuel to Rocket Crypto forward particularly given how Many crypto firms and people have left The US due to regulatory uncertainty not To mention the major companies that have Canceled their web 3 projects for the Same reason most recently GameStop Rudy Takala an editor at coint telegraph was More reserved in so far as he believes Bitcoin is seeking out its post ETF Bottom before we see some constricted Trading and then a breakout however Rudy Points out that in 2020 the last Haring Year bitcoin's price increased 500% and Then doubled in 2021 if this same Pattern were to occur it would put Bitcoin at around $200,000 by the end of 2024 he admits That this looks absurd right now but the Outlook is still bullish and finally JW Veret an associate professor at George Mason law school was preaching wisdom he Said I won't sell the news because the Only rational way to invest in Bitcoin Is to think in five to 20e Horizons over That Horizon the to the Moon meme is Reasonable he also quite fairly leans Away from the short-term predictions as He says they are just guesses about how Many fellow speculators want to jump Into the pool with me in the next 6

Months based on no new information I Couldn't agree more with that sentiment My non-crypto friends often want to wet Their beak when Bitcoin starts making Headlines and they'll ask me my thoughts After showing them my # notot Financial Advice tattoo I outright declined to say A word about the shortterm for crypto There's always some Moon shotting Cartoon dog or a collapsing Titan to Make a fool of you in 2023 gold and Bitcoin saw a blossoming correlation Rarely seen before but why the asset Manager and now one of the spot Bitcoin ETF issuers Fidelity released a report Recently in which some fascinating Observations were made about last year's Bitcoin Behavior the analysis showed That bitcoin's price decoupled from the Inverse relationship it had with Interest rates they wrote but this past Year we saw a complete decoupling of This relationship as real rates continue To rise with inflation subsiding and Treasury yields screaming higher at one Of the fastest Paces in history with Bitcoin not only holding steady but then Rallying could this be due to an Idiosyncratic event such as the Anticipation of a spot Bitcoin ETP Perhaps but we do not think so because Gold has also been showing similar Behaviors recently what this means is That typically when interest rates go up

The price of Bitcoin goes down usually Because of a reduced demand for risk Assets for example however rates went up And so did Bitcoin as for Bitcoin and Gold moving in similar directions and There had typically been little in the Way of correlation between the two gold Is seen as safe and Bitcoin is seen as Risky Fidelity speculates that investors Are watching the growing fiscal deficit Or anticipating a change in interest Rates they wrote Our research shows that Bitcoin's price is highly correlated not To Consumer Price inflation but rather Inflation in the money supply itself and Various liquidity metrics so when There's more money around bitcoin's Price goes up but really one of the most Important takeaways from this report for Me at least isn't the details of how Bitcoin is changing in the eyes of Investors but rather that it's Changing if you don't follow at whale Alert firstly you're missing out it's an X account that tracks onchain Transactions that are particularly Noteworthy usually large part of the Reason I like this account is because It's a stark reminder that money is Abundant even when it feels like it Isn't I've just opened their X page While recording and in the last 3 hours $250 Million worth of salana ethereum And tether have been transferred across

Three transactions that said there are Occasionally transactions that raise the Crypto community's Collective eyebrows And one yesterday did more than that While alert tweeted that $25.6 billion Worth of xrp had been transferred from An unknown wallet to bitfinex So Not Only would that be 14.8 billion worth But 25.6 billion xrp is half the Circulating Supply from one wallet Something just didn't smell right well Whale alert announced that there was an Issue with properly reading the Ripple Node response resulting in a few wrong Posts but the reason the Tweet went out At all is because there was a large hack Attempt against bitfinex Paulo Ardo Chief technology officer at bitfinex Took to X to write someone attempted to Attack at bitfinex Via partial payments Exploit attack failed since bitfinex Properly handles delivered amount data Field as Jesse cockland explained in the Article Linked In the description a Partial payments exploit works by Assuming a company has an improperly Configured system that only reads the Amount field of an xrp transaction which Is set to a high amount in reality the Exploiter sends over a much smaller Amount specified in another transaction Field and aims to receive credit for the Difference the attacker also tried the Same tactic on binance with a 58.9

Billion xrp transfer but that also Failed I think if it didn't you'd Already know about it so it's a swing And a miss this time but you have to Give the hacker a little credit for Swinging for the fences on this One finally a quick and bizarre story Michael sailor is someone we discuss a Lot on this podcast he is the executive Chairman of micro strategy an Organization that's one of the biggest Holders of Bitcoin in the world and a Personal champion of Bitcoin 2 he has an Enormous following across all social Media and any wisdom he spills or shares Is gobbled up the problem is there are Videos that look and sound perfectly Like sailor but they're not him they're Deep fakes we've known this problem has Been in the post for a while and deep Fakes have the power to violate people In innumerable ways and this is one Dangerous one from a financial Standpoint sailor tweeted warning there Is no risk-free way to double your Bitcoin and micro strategy doesn't give Away Bitcoin to those who scan a barcode My team takes down about 80 fake AI Generated YouTube videos every day but The scammers keep launching more don't Trust verify so I went and watched Several of these fake AI videos of not Sailor claiming he will double people's Money and they're damned convincing I

Can tell they're fake and you probably Can too but it's not an obvious spot and It would easily trick people not Interested in or engaged with AI so this Is a serious warning certic blockchain Analyst Jesse lir told cointelegraph Last month that fishing is evolving in Sophistication and one of the key Elements driving its evolution is Generative AI so don't get complacent Simply because most scams are Obvious okay that is your daily debrief Done you can get on with the rest of Your day now consider yourself informed Thank you for listening to the ryzen Crypto podcast by coin Telegraph if You're enjoying these daily updates Please make sure you let us know by Following subscribing or leaving a Review have a great day let's do this Again Tomorrow

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