บทถอดความฉบับเต็มของ Bitcoin ETFs, Market Sentiment, and Nigeria's Crypto Regulations

confirms a trend bottom and then a higher sideways consolidation during its 64 00:05:24,545 --> 00:05:25,045 development. 65 00:05:26,944 --> 00:05:32,139 The success rate of a cup-and-handle pattern is also very high at ninety-five percent, 66 00:05:32,139 --> 00:05:38,540 according to Tom Bulkowski, a well-known trader and creator of Thepatternsite.com. 67 00:05:38,540 --> 00:05:43,520 In the parabolic curve, base one was formed at the market bottom in November 2022. 68 00:05:44,535 --> 00:05:51,835 A recovery from the market bottom at $15,460 to $25,290 confirmed base two. 69 00:05:52,215 --> 00:05:59,216 Bitcoin’s sideways consolidation between $30,000 and $25,000 during April 2023 and 70 00:05:59,216 --> 00:06:02,290 September 2023 led to base three. 71 00:06:03,470 --> 00:06:08,961 Moving forward, Bitcoin witnessed its first parabolic rise of one hundred ninety-eight 72 00:06:08,961 --> 00:06:16,995 percent, reaching a new all-time high of $73,737 in March 2024. 73 00:06:18,175 --> 00:06:23,229 Over the past few weeks, the Bitcoin to United States Dollar chart has printed the formation 74 00:06:23,289 --> 00:06:27,149 of base four, which is the final phase of the parabolic curve. 75 00:06:28,410 --> 00:06:34,490 Base four is also the “handle” part of the cup-and-handle pattern, which is approaching a 76 00:06:34,490 --> 00:06:35,550 breakout simultaneously. 77 00:06:37,414 --> 00:06:43,574 Once Bitcoin breaches above base four, the analyst expects “the steepest kind of ascent 78 00:06:43,574 --> 00:06:47,354 Bitcoin has ever witnessed,” or a blow-off-top rally. 79 00:06:48,134 --> 00:06:56,420 By the end of 2024, the price target is above $260,000, which is a three hundred twelve 80 00:06:56,420 --> 00:06:59,160 percent gain from Bitcoin’s current prices. 81 00:07:00,580 --> 00:07:06,495 Bitcoin price, crossing above its previous all-time high range at over $70,000, will not 82 00:07:06,495 --> 00:07:09,235 be without a few consequences for futures traders. 83 00:07:09,935 --> 00:07:14,175 Data from CoinGlass suggests a large liquidation event will occur once Bitcoin 84 00:07:14,175 --> 00:07:15,074 crosses $70,493. 85 00:07:18,014 --> 00:07:25,899 As observed, short liquidations amount to $7.18 billion at that price as of August 27th. 86 00:07:26,599 --> 00:07:35,175 Similarly, at $72,581, another $6.54 billion in short positions will be liquidated, which means 87 00:07:35,175 --> 00:07:40,314 the futures market is still strongly positioned between both bullish and bearish traders. 88 00:07:41,095 --> 00:07:45,974 However, the long-to-short accounts turned strongly bullish over the past twenty-four 89 00:07:45,974 --> 00:07:49,034 hours despite Bitcoin’s price slump. 90 00:07:50,339 --> 00:07:55,000 The data indicates that fifty-seven point one nine percent of the accounts are currently 91 00:07:55,060 --> 00:07:55,560 long. 92 00:07:56,180 --> 00:08:02,464 Yet, the taker buy-to-sell volume between long and short traders was closely matched, as the 93 00:08:02,464 --> 00:08:07,793 long-to-short ratio remained at one point zero one. 94 00:08:07,793 --> 00:08:12,404 Cointelegraph reported a similar prediction for Bitcoin by another analyst, who predicted 95 00:08:12,404 --> 00:08:18,560 Bitcoin to reach as high as $150,000 by the end of 2024. 96 00:08:18,560 --> 00:08:23,839 Real Vision analyst Jame Coutts touted a familiar tone where he expected Bitcoin price 97 00:08:23,839 --> 00:08:28,819 action to enter “batshit season,” or the “banana zone.” 98 00:08:29,935 --> 00:08:35,955 A banana zone is defined as a parabolic rally where price and volume witness a significant 99 00:08:36,014 --> 00:08:42,575 escalation, which triggers collective market interest and, hence, a further continuation of 100 00:08:42,575 --> 00:08:43,795 exponential rise. 101 00:08:45,129 --> 00:08:50,909 Additionally, Smithson With, a Bitcoin researcher, also shared a study that correctly 102 00:08:50,970 --> 00:08:54,350 called Bitcoin’s peak from previous bull cycles. 103 00:08:55,049 --> 00:09:02,878 With’s price targets varied over the course of 2025, but the minimum expected price is 104 00:09:02,878 --> 00:09:06,705 $164,173 by January 1, 2025. 105 00:09:06,898 --> 00:09:14,200 Overall, these predictions follow a similar pattern where Bitcoin is expected to move 106 00:09:14,200 --> 00:09:17,899 rapidly once its previous all-time high is breached. 107 00:09:19,160 --> 00:09:24,279 In response to the growing threat of cryptocurrency hacks, a team of ethical hackers 108 00:09:24,279 --> 00:09:30,945 has created an elite Security Alliance team, also known as SEAL, to strengthen defenses and 109 00:09:30,945 --> 00:09:33,524 prevent breaches worse than those in 2023. 110 00:09:34,945 --> 00:09:41,840 The anti-hack response team, SEAL, led by white hat hacker and Paradigm researcher Samczsun, 111 00:09:41,840 --> 00:09:46,179 has received over 900 hack-related tickets since their launch in August 2023. 112 00:09:47,919 --> 00:09:52,960 To make protocols more resilient to cyberattacks, the initiative will create a 113 00:09:52,960 --> 00:09:56,334 battleground for white hat hackers and emerging protocols. 114 00:09:57,834 --> 00:10:03,054 This was announced by Samczsun during his keynote at the Web3 Summit in Berlin. 115 00:10:03,754 --> 00:10:11,269 He stated, “We envision a future where we host live adversarial environments for protocols and 116 00:10:11,269 --> 00:10:13,850 researchers to stress test their protocols. 117 00:10:14,710 --> 00:10:20,389 This way, the teams can pass through protocol and make sure that it functions under 118 00:10:20,389 --> 00:10:21,850 high-intensity situations. 119 00:10:22,790 --> 00:10:28,644 But also, researchers can test their skills in being a black hat or a white hat.” 120 00:10:29,745 --> 00:10:35,684 The initiative’s first event, Battle.net, will be hosted at the DeFi Security Summit at Devcon 121 00:10:36,170 --> 00:10:38,430 between November 7 and 9. 122

00:10:39,370 --> 00:10:46,090 This white hat initiative comes nearly a month after a hacker stole over $230 million from 123 00:10:46,090 --> 00:10:52,965 WazirX, an Indian cryptocurrency exchange, in the second-largest cryptocurrency hack of 2024 124 00:10:53,585 --> 00:10:54,325 so far. 125 00:10:55,425 --> 00:11:01,685 White hats, or ethical hackers, could be committing crimes by aiming to rescue stolen 126 00:11:01,825 --> 00:11:02,325 funds. 127 00:11:03,309 --> 00:11:09,149 This is because numerous global laws prohibit people from accessing computer systems without 128 00:11:09,149 --> 00:11:14,450 authorization, which would make rescuing stolen smart contract funds illegal. 129 00:11:14,509 --> 00:11:21,615 To protect white hat hackers from unjust legal consequences, SEAL published the Whitehat Safe 130 00:11:21,615 --> 00:11:28,335 Harbor Agreement, a legal framework providing financial assistance to white hats facing legal 131 00:11:28,335 --> 00:11:28,835 action. 132 00:11:29,695 --> 00:11:35,429 Samczsun explained, “We also prepared some defenses for the white hat by partnering with 133 00:11:35,429 --> 00:11:38,169 the Security Researcher Legal Defense Fund. 134 00:11:38,709 --> 00:11:44,789 The Security Researcher Legal Defense Fund is another nonprofit whose mission is to provide 135 00:11:44,789 --> 00:11:48,754 grants to security researchers interfacing with legal issues.” 136 00:11:50,014 --> 00:11:55,934 The anti-hack initiative comes during a crucial time when crypto hackers are threatening to 137 00:11:55,934 --> 00:11:58,195 surpass the previous year’s achievements. 138 00:11:59,559 --> 00:12:07,879 By February 29, over $200 million had been lost to hacks year-to-date, reflecting a more than 139 00:12:07,879 --> 00:12:15,095 fifteen percent increase compared to the same period in 2023, when $173 million worth of 140 00:12:15,095 --> 00:12:16,875 digital assets were stolen. 141 00:12:18,054 --> 00:12:23,495 Hackers could surpass the previous year if the current pace of exploits continues, according 142 00:12:23,495 --> 00:12:29,509 to Mar Guimenez-Aguilar, the lead security architect at Halborn cybersecurity firm. 143 00:12:30,769 --> 00:12:36,870 The cybersecurity expert told Cointelegraph, “Considering the number and severity of attacks 144 00:12:36,929 --> 00:12:45,235 in 2024 so far, there have been approximately 14 incidents among the top 100 hacks, averaging 145 00:12:45,294 --> 00:12:47,315 nearly two attacks per month. 146 00:12:47,615 --> 00:12:53,629 If this trend continues, the total could reach about 24 attacks by year-end, slightly 147 00:12:53,629 --> 00:12:55,649 surpassing the total for 2023.” 148 00:12:57,710 --> 00:13:02,769 Nearly eighty percent of cryptocurrencies never recover in pricing after a hack or exploit, 149 00:13:03,470 --> 00:13:06,769 according to a report by onchain security firm Immunefi. 150 00:13:07,574 --> 00:13:12,154 This devaluation often causes more damage to projects than the exploit itself. 151 00:13:13,574 --> 00:13:17,214 The market capitalization of artificial intelligence and big data cryptocurrency 152 00:13:17,214 --> 00:13:18,394 projects and tokens has surged by seventy-nine point seven percent over the past three weeks, 153 00:13:23,360 --> 00:13:26,100 reflecting renewed confidence among crypto investors. 154 00:13:27,440 --> 00:13:33,039 On August 6th, the total market cap of AI and big data crypto projects recorded a yearly low 155 00:13:33,039 --> 00:13:38,705 of eighteen point two one billion dollars, primarily due to its indirect reliance on the 156 00:13:38,705 --> 00:13:42,565 underperforming price of Bitcoin and crypto markets in general. 157 00:13:43,424 --> 00:13:49,950 At the time, Bitcoin’s price fell sharply under fifty thousand dollars, according to data from 158 00:13:49,950 --> 00:13:54,190 Cointelegraph Markets Pro and TradingView. 159 00:13:54,190 --> 00:14:00,350 According to CoinMarketCap data, the AI and big data token ecosystem replicated Bitcoin’s price 160 00:14:00,350 --> 00:14:05,894 recovery and saw its market cap comfortably exceed thirty-eight billion dollars on August 161 00:14:05,894 --> 00:14:06,394 25th. 162 00:14:07,334 --> 00:14:14,309 As of August 27th, top AI and big data tokens in terms of market capitalization include Near 163 00:14:14,309 --> 00:14:19,894 Protocol, which is worth five point five billion dollars, Internet Computer at three 164 00:14:19,894 --> 00:14:25,254 point eight billion dollars, Artificial Superintelligence Alliance at three point four 165 00:14:25,254 --> 00:14:30,165 billion dollars, and Bittensor at two point eight billion dollars. 166 00:14:30,165 --> 00:14:35,365 Market volatility negatively impacted investors’ sentiment during this time, as the 167 00:14:35,365 --> 00:14:40,264 Crypto Fear and Greed Index by Alternative dot me reached 'extreme fear' levels. 168 00:14:41,620 --> 00:14:47,959 However, the sentiment returned to 'neutral' as markets began recovering and crypto investors 169 00:14:48,179 --> 00:14:50,039 sought to recoup losses. 170 00:14:50,980 --> 00:14:56,745 The Fear and Greed Index aims to measure the emotions of crypto investors and can now serve 171 00:14:56,745 --> 00:14:59,964 as a useful indicator for making investment decisions. 172 00:14:59,964 --> 00:15:07,384 Onchain analytics platform Lookonchain observed the big gains and noted strange whale 173 00:15:07,384 --> 00:15:13,759 transaction behavior in Artificial Superintelligence Alliance in an August 26th X 174 00:15:13,759 --> 00:15:14,259 post. 175 00:15:15,600 --> 00:15:21,269 It noted that a whale 'seemed to regret selling' at a lower price before spending two 176 00:15:21,269 --> 00:15:26,575 point three eight million Tether to repurchase one point seven nine million Artificial 177 00:15:26,634 --> 00:15:31,610 Superintelligence Alliance tokens from Binance at a higher price of one dollar and 178 00:15:31,610 --> 00:15:33,534 thirty-three cents on August 25th. 179

00:15:34,955 --> 00:15:39,980 Nigeria’s Securities and Exchange Commission has issued Quidax, an Africa-based 180 00:15:39,980 --> 00:15:43,919 cryptocurrency exchange, its first provisional operating license. 181 00:15:44,700 --> 00:15:49,740 This development signals the beginning of formal recognition and regulatory oversight for 182 00:15:49,740 --> 00:15:51,840 the country’s digital asset industry. 183 00:15:52,539 --> 00:15:58,345 According to a press release shared with Cointelegraph, the SEC’s license permits Quidax 184 00:15:58,345 --> 00:16:02,445 to operate as a registered cryptocurrency exchange in Nigeria. 185 00:16:02,445 --> 00:16:09,580 Quidax said the SEC’s approval is a “shot of adrenaline” for the Nigerian cryptocurrency 186 00:16:09,879 --> 00:16:13,419 community, encouraging further innovation and expansion. 187 00:16:14,919 --> 00:16:21,820 Buchi Okoro, the co-founder and CEO of Quidax, praised the Securities and Exchange Commission, 188 00:16:22,504 --> 00:16:28,264 particularly under the new leadership of Emomotimi Agama, for its decisive action to 189 00:16:28,264 --> 00:16:33,565 bring order, confidence, and investor protection to the Nigerian cryptocurrency 190 00:16:33,705 --> 00:16:34,205 industry. 191 00:16:35,419 --> 00:16:40,720 The regulatory approval now enables Quidax to collaborate with banks and other financial 192 00:16:40,779 --> 00:16:45,039 institutions, pending the Central Bank of Nigeria’s approval. 193 00:16:46,299 --> 00:16:51,164 The Securities and Exchange Commission’s licensing follows a comprehensive amendment to 194 00:16:51,164 --> 00:16:58,605 its rules on June 21, covering digital asset issuance, offering platforms, exchange, and 195 00:16:58,605 --> 00:16:59,105 custody. 196 00:16:59,644 --> 00:17:04,944 A notable part of the regulatory overhaul is the introduction of the Accelerated Regulatory 197 00:17:05,085 --> 00:17:11,549 Incubation Programme designed to help virtual assets service providers align with new 198 00:17:11,549 --> 00:17:11,571 regulatory requirements. 199 00:17:11,571 --> 00:17:11,688 Despite these advancements, there was initial concern that the stringent licensing 200 00:17:11,688 --> 00:17:24,994 requirements might significantly reduce the number of local cryptocurrency exchanges. 201 00:17:26,815 --> 00:17:28,054 The Nigerian Securities and Exchange Commission mandates a minimum upfront capital requirement 202 00:17:28,054 --> 00:17:37,871 of five hundred million naira, approximately five hundred fifty-six thousand six hundred 203 00:17:37,871 --> 00:17:44,451 twenty dollars, and a current Fidelity Insurance Bond covering at least twenty-five 204 00:17:44,451 --> 00:17:44,641 percent of the stipulated minimum paid-up capital for both digital asset exchanges and 205 00:17:44,641 --> 00:17:45,970 digital assets offering platforms. 206 00:17:54,085 --> 00:17:59,944 Nigeria, Africa’s largest economy, has consistently ranked high in global 207 00:18:00,085 --> 00:18:01,144 cryptocurrency adoption. 208 00:18:01,845 --> 00:18:07,960 According to a recent survey of fifteen countries, Nigeria boasts the world’s most 209 00:18:07,960 --> 00:18:09,420 cryptocurrency-aware population. 210 00:18:11,080 --> 00:18:18,369 Chainalysis’ 2023 Cryptocurrency Geography Report placed Nigeria second in cryptocurrency 211 00:18:18,369 --> 00:18:24,335 adoption among one hundred fifty-four countries, underscoring its critical role in 212 00:18:24,335 --> 00:18:26,355 the global digital asset ecosystem. 213 00:18:27,934 --> 00:18:28,904 However, despite the high adoption rate, the anticipated influx of foreign cryptocurrency 214 00:18:28,904 --> 00:18:36,539 investment has not materialized as expected. 215 00:18:37,879 --> 00:18:43,000 The new regulatory framework and Quidax’s licensing could potentially alter this 216 00:18:43,000 --> 00:18:48,359 trajectory by providing a more stable and secure environment for both local and 217 00:18:48,359 --> 00:18:49,500 international investors.