Check out the top five crypto news stories over the past day prepared for you by U.Today.
Peter Schiff has “Christmas gift” for Bitcoin holders
Bitcoin holders had to face their own “Grinch” in the guise of Peter Schiff this Christmas as the BTC critic shared a special “gift” on his official Twitter account. On Dec. 25, Schiff posted a price chart suggesting Bitcoin is closer to its ceiling than its floor. He then urged the holders of the king crypto to “sell today,” saying that Bitcoin’s upside potential is “so low and downside risk so high.” In the next tweet, Schiff added that his gift is all the money BTC owners will save by selling their holdings today, and if they follow his advice, they will thank him later.
DOGE becomes top traded crypto by whales after Elon Musk's new post
WhaleStats data demonstrates that Dogecoin became the most traded token among the top 100 BNB holders. DOGE’s trading volumes spiked following the Christmas post by new Twitter boss Elon Musk, in which he shared photos of his dogs: Gatsby, Marvin and Floki, the most recent pet of the centibillionaire. If you look closely at the photo of Floki, a Santa Claus doll on his back actually has a DOGE logo on his face. Even though the price of the token was not significantly affected by Musk's mention of DOGE, among those top 100 BNB holders, the canine coin traded a total of $268,000.
Billionaire Mark Cuban says he wants to buy Bitcoin at much lower prices
During his appearance on a "Club Random" podcast by Bill Maher, Dallas Mavericks owner Mark Cuban shared that he would like to purchase more Bitcoin. However, for him to do this, the first the largest crypto should ”go down a lot further," Cuban said. The billionaire also touched upon the topic of gold: while responding to Maher's statement about gold being a hedge against inflation, Cuban said, without mincing his words, that those who own gold are “dumb as f**k.” Previously, Cuban repeatedly stated that BTC should be viewed as an alternative to gold and treated similarly to other asset classes.
Shiba Inu (SHIB) forming reversal pattern ahead of New Year
Shiba Inu’s volatility has recently decreased to the record levels unseen for the last three months, which usually signifies either an upcoming reversal or a volatility spike. If we look at SHIB’s intraday chart, we see a descending triangle pattern formation. By getting closer to the end of the formation, trading volume should rise significantly, causing an expected volatility spike. However, the formation of the aforementioned pattern could become a great foundation for a potential reversal. On SHIB’s daily chart, we would not be able to see a triangle, only a direct and narrow price rangebound.