50 Projects Backed off From Shibarium After This, Bitcoin Hits $25,000 for First Time Since August, SHIB Lead Dev Invites Everyone to Shibarium: Crypto News Digest by U.Today

Here are the top four news stories over the past day presented to you by U.Today.

Shiba Inu (SHIB) lead dev: 50 projects backed off from Shibarium after this

The Shiba Inu project's lead developer, Shytoshi Kusama, has recently addressed his Telegram followers to share the results of communicating with projects that wished to build on the Shibarium Layer-2 protocol. According to Kusama’s message, he was contacted by at least 50 projects, but when he presented them with Shibarium’s value system and its main principles ("Burn, Protect, Help, Grow"), none of the projects responded. "And instantly… SILENCE," wrote Kusama in the last line of his message. Such a reaction (or rather the lack of one) made the lead developer think that the projects are backing off.

Key reasons why Bitcoin (BTC) just hit $25,000 for first time since August

Yesterday, all Bitcoin holders rejoiced as the biggest cryptocurrency on the market peaked at $25,270 on the Bitstamp exchange, reaching a six-month high. Thus, BTC revisited the $25,000 level for the first time since August 2022. According to some market observers, Bitcoin’s rally happened due to a "short squeeze," tax-loss harvesting, or the fact that crypto investors seem to be abandoning altcoins and investing more in the king crypto. However, Bitcoin’s uptrend did not manage to last; according to CoinMarketCap, it is currently trading at $23,974, down 2% over the past 24 hours.

Shiba Inu (SHIB) lead dev shares invitation to Shibarium, but there's a catch

SHIB lead dev Shytoshi Kusama has officially invited everyone to Shibarium via his latest blog post. In the post, he once again reminded the SHIB community what the Layer-2 protocol is and outlined its common values ("Burn, Protect, Help, Grow"), while also stating that Shibarium is what can bring a fragmented society together. Kusama concluded the presentation with a call to join and unite around the upcoming technology, addressing people of different religions in their native languages. In the next post, the lead developer promised to provide a detailed review of Shiba Inu’s life in 2022.

Legendary trader Peter Brandt: golden cross useless for making predictions

Renowned trader Peter Brandt has recently taken to Twitter to opine on the so-called “golden cross” technical analysis pattern. Brandt believes that the pattern is a “fun talking point and no more,” adding that it has no real predictive utility on the market. Moreover, writes the trader with over four decades of experience, peer-reviewed and trader-tested research demonstrate that there is "nothing magic about the chart construction." Apart from Brandt, many other traders also pointed out that the pattern's usefulness has been overstated, and its predictive power is minimal.