What to Expect from Donald Trump Crypto Dinner Today?

Semler Scientific has filed with the U.S. Securities and Exchange Commission (SEC) to issue $500 million in securities. This move follows the company’s announcement of a $30 million settlement with the Department of Justice (DOJ). The funds raised are expected to be used for various corporate purposes, including acquiring more Bitcoin.

Semler Scientific Settlement with DOJ

Semler Scientific has reached a tentative agreement with the DOJ, agreeing to pay $29.75 million to settle claims related to marketing its flagship product, QuantaFlo. The settlement addresses accusations of potential violations of federal anti-fraud laws.

While the DOJ’s investigation started in 2017, it was only in recent months that Semler entered discussions to resolve the matter. The company stated that it has complied with several subpoenas over the years, which led to the current settlement negotiations.

In its Tuesday filing with the U.S. Securities and Exchange Commission (SEC), Semler disclosed that the settlement agreement is not final yet. If the agreement is approved, the company plans to use a loan from Coinbase, secured by its Bitcoin holdings, to fund the $30 million payment. Semler’s current Bitcoin holdings amount to 3,192 BTC, valued at approximately $267 million today.

Bitcoin as Collateral for Loan from Coinbase

To finance the settlement, Semler Scientific has partnered with Coinbase, one of the largest cryptocurrency exchange.

According to the terms of the contract, the firm will receive a cash and digital asset loan from it, backed by its BTC balance.

The crypto-based loan from Coinbase will ensure Semler has adequate balance to facilitate settlement without straining its balance in other aspects of its operations.

Plans for Further BTC Purchases

Not limiting itself to the $30 million DOJ settlement, Semler Scientific has hinted at intent to purchase more Bitcoin. To issue new securities, the company has submitted an S-3 for registration with the SEC in an effort to offer $500 million in securities.

The funds raised from this selling will increase the company’s Bitcoin holdings, which it has outlined as a plan to diversify cryptocurrency.

Semler’s intentions of acquiring more Bitcoin come simultaneously with those of other firms, such as Michael Saylor’s Strategy, which also accumulates the cryptocurrency. Just recently, Strategy bought 3,459 bitcoins for $285.8 million, and thus, it is now holding 531,644 bitcoins.

Similarly, Metaplanet has bought $26.3m worth of Bitcoins, demonstrating that the firm remains bullish in this market volatility. These purchases come in light of a potential reversal in the Bitcoin price that some analysts, such as the Titan of Crypto, have estimated to hit $137,000.

The post Semler Scientific Files To Buy $500M in Bitcoin Amid $30M DOJ Settlement appeared first on CoinGape.

Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, the analyst alluded to a previous analysis, in which he predicted that XRP could reach $130, a move which confirms that the altcoin is still on the path to this ambitious target.

XRP Price Set To Rally To $130

In an X post, Egrag Crypto confirmed that the XRP price could rally to $130. He alluded to a previous analysis in which he predicted that the altcoin could rally to this target while stating that only a few understand what is coming for the altcoin. Back then, the analyst had highlighted $130 as one of the massive macro targets as XRP eyes a parabolic breakout.

He also raised the possibility of XRP entering its most explosive phase yet and added that the “eruption is near.” Indeed, XRP might be about to enter its most explosive phase, considering that the US SEC has agreed to drop the Ripple lawsuit. This development is very bullish for the XRP price, as the long-running legal battle had negatively impacted the altcoin during the 2021 bull run.

In another X post, Egrag Crypto revealed how XRP could rally to as high as $8 in the midterm. He stated that a close above $2.66 would be a good sign, followed by another close above $2.97, which would be a second bullish confirmation.

The analyst asserted that the ultimate confirmation for a bullish trend would be a close at $3.40. Egrag Crypto stated that the next targets are between $5 to $8 if XRP hits $3.40, which is the current all-time high (ATH).

What Next For The Altcoin As Key Structure Holds

Crypto analyst CasiTrades revealed that the XRP price has held its structure. She noted that the altcoin took a strong dip to a local 0.5 retracement level but held structure right where it needed to. She added that even with the break below $2.40, XRP respected the channel structure and closed at the 1.236 extension for Wave C.

The analyst remarked that this price action is textbook Wave 4 behavior and, as long as XRP doesn’t witness further breakdowns, new highs could be loading. She warned that this is still a critical moment. If the channel continues to hold, CasiTrades predicts that the altcoin should make a push toward $2.65 to $2.70 with the breakout.

She again affirmed that $2.70 is the next major level to flip to support to continue the macro trend up towards ATH. The analyst revealed that the $2.45 price level is the resistance that will help confirm this push. Coincidentally, XRP is currently testing this level. CasiTrades warned that if the altcoin can’t break it, it could record another dip to the deeper 0.618 retracement level at $2.36.

Regardless of any dip, the crypto analyst asserted that the XRP price remains bullish on the macro degree, sitting above its major 0.382 retracement level at $2.25. She remarked that new highs above $3.40 should be printing soon.

Besides the SEC’s decision to drop the Ripple lawsuit, fundamentals such as Bitnomial’s launch of XRP Futures contracts also provide a bullish outlook for the altcoin and could spark a significant price surge.

The post Analyst Confirms XRP Price Is Still On Path To $130 appeared first on CoinGape.

After a massive crash at the beginning of the month, the crypto market braces for a crucial week as the Federal Reserve prepares for the interest rate decision. After cryptocurrencies nearly lost a trillion, the central bank’s move is essential for the investors as its decision could impact not only digital assets but other financial markets. Let’s discuss.

How Will the Federal Interest Rate Decision Impact the Crypto Market?

At present, the biggest contributor to the crypto market, Bitcoin, trades at $83,2K, with the rest of the altcoins exhibiting the same consolidatory performance. As a result, the global digital assets market cap is just $2.72T, and the trading volume is $69.74B. Also, the investor sentiments are still in a fear zone amid economic uncertainty.

In addition, the FOMC meeting and the Federal Reserve interest rate decision could decide the performance of the cryptocurrencies. If the Fed implements a rate cut (lower interest rate), the market could witness high liquidity.

More importantly, this could influence investors to take the risks. As a result, this is the bullish scenario for the cryptocurrencies, where Bitcoin and altcoin could seek high returns, especially if the Fed ends QT. 

The market’s performance would be unexpected if the Fed decided to keep the interest rate study. The volatility may or may not increase, but the investors’ disappointed sentiments could impact the market momentarily.

Lastly, the rate hike scenario, which is unexpected, could bring downward pressures as crypto traders move toward safer assets rather than digital assets. All these possibilities will bring different results.

Experts believe the Fed will keep the interest rates unchanged, increasing the chances of bullish outcomes. However, various other factors also need to align as many other macroeconomic events could impact the cryptocurrencies.

Other Macroeconomic Events to Impact the Crypto Market

Beyond the Federal Reserve interest rate decision, several other macroeconomic factors could influence this week’s cryptocurrency market. The key factors include U.S. jobless claims, U.S. retail sales, February Housing Starts data,  geopolitical developments, etc.

Additionally, the upcoming Trump and Putin meeting to discuss the Ukraine peace policy could also have a significant impact.

Other worldwide events like Japan’s and England’s Interest rate decisions could also have a significant impact. Investors must stay updated with the market and remain cautious this week.

Bottom Line

Bitcoin is following a highly bullish pattern at present. The same pattern led to a massive rally for gold in the 1970s. Over the years, BTC price can surge to $250k due to this bullish pattern, and the Federal Reserve interest rate cuts could play an important role in that.

However, the different scenarios could impact the crypto market differently. More importantly, macroeconomic factors like U.S. jobless claims could influence the market. Investors must be prepared for volatility ahead.

The post How Will Federal Reserve Interest Rate Decision Impact Crypto Market this Week? appeared first on CoinGape.