Day: March 19, 2024

Record-Breaking GBTC Outflows Send Bitcoin Down 14% To $62,000

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As reported by Fortune Magazine, the cryptocurrency market has been experiencing significant volatility as Bitcoin (BTC) has experienced a sharp decline that has had a domino impact on other cryptocurrencies. The recent drop in the price of Bitcoin, coupled with outflows from Grayscale’s GBTC, has raised concerns among investors.  Bitcoin Sees 14% Correction From ATH Bitcoin suffered a 14% drop since reaching its all-time high (ATH) of $73,700 last week, briefly touching $62,483 on Tuesday morning. However, it recovered and stabilized around $64,900, just below the $65,000 mark.  The decline…

New Crypto to Watch: VR Project 5thScape Raises Over $1.5M

A new player has burst onto the crypto scene, and investors and gamers alike are taking notice. 5thScape (5SCAPE), a groundbreaking project that aims to blur the lines between reality and virtual reality (VR) gaming, has already raised over $1.5 million during its presale phase. 5thScape Aims to Blur Reality & Virtual Worlds Imagine a […] Source CryptoX Portal

This Is Arguably the Most Important Use Case for Bitcoin and Cryptocurrency, According to Brian Armstrong

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The CEO of Coinbase is revealing what he thinks the most important use cases for cryptocurrencies are. In a new Coinbase blog post, Coinbase CEO Brian Armstrong attempts to answer the question “what is crypto even useful for?” First, Armstrong says that out-of-control money printing has caused an increasing level of economic inequality via inflation and stagnation, creating a need for a new financial system. “For over 50 years, a familiar pattern that we’ve seen throughout history has played out in the US: the government spends more than it earns…

What Is It And Why Does It Matter?

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The Bitcoin price crash over the past day has taken crypto investors by surprise, leading to a full bleed day for the industry. However, while this may have come as a shock to many, some were able to call it out ahead of time. One of those is Rent Capital, which said the decline was in line with Bitcoin’s established halving trend. An Expected Crash The analysis posted by Rest Capital outlines the trends that Bitcoin has followed leading up to its halving months. In 2020, the halving fell on…

Luxor and Bitnomial Roll out Hashrate Futures for US Market Ahead of Bitcoin Halving

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Luxor Technology Corporation, a blockchain infrastructure service provider, has unveiled plans to introduce exchange-traded hashrate futures for institutional investors in the U.S. Through a collaboration with derivatives exchange Bitnomial, this new futures product is slated to be accessible on the trading platform by the end of this month. Luxor and Bitnomial’s Partnership Introduces Exchange-Traded Hashrate […] Original

Wu-Tang’s Ghostface Killah to Release Exclusive Music Collection on Bitcoin Blockchain

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This week, the popular American rapper and Wu-Tang Clan member, Ghostface Killah, declared his intention to release exclusive tracks on the Bitcoin blockchain. The influential hip-hop artist mentioned that this issuance will encompass a 10,000-piece collection, granting owners the rights to the music. Ghostface Killah Innovates With Bitcoin-Backed Music Rights Collection Tracks produced by Wu-Tang […] Original

Bitcoin Might Be Poised For A ‘Double Pump Cycle,’ Reveals Analyst

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Bitcoin’s recent downturn has prompted renowned crypto analyst Willy Woo to offer a fresh perspective on the cryptocurrency’s future trajectory. Woo’s analysis, based on the surge in Bitcoin’s Macro Index, suggests an optimistic outlook for the leading digital currency, potentially indicating a pivotal shift in market dynamics. Unveiling Bitcoin Double Pump Prediction Willy Woo, a figure well-respected in the cryptocurrency analysis sphere, has recently shared insights that paint an intriguing future for Bitcoin. According to Woo, the notable increase in the Bitcoin Macro Index could signal more than just a…

Bitcoin resistance around $66.9k pre-halving

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Bitcoin’s retrace below $63,000 has offered a clearer view of support and resistance levels to watch leading to next month’s halving. Bitcoin (BTC) and cryptocurrency analyst Ali-Charts identified three critical prices that serve as support levels for the largest digital asset in the world. According to the on-chain observer citing Glassnode data,  $61,100, $56,685, and $51,530 should cushion against further Bitcoin dips.  Conversely,  $66,990 and $72,88 have emerged as the following resistance levels to break after BTC set a new all-time high on March 14, per CoinGecko. The crypto peaked…