Day: April 3, 2024

Will BTC Fall To $53,600?

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Bitcoin prices are volatile, recently dropping from the peak of over $73,000 in March to the current spot levels. Analysts are turning to historical data for insights with mounting selling pressure and some investors being concerned about potential short-term losses. This historical analysis is crucial in determining whether we’ve reached a market top or if this is just a temporary pause before the trend resumes. Will The Depth Of This Correction Depend On This? In a post on X, one analyst said the depth of the current correction will largely…

VGX Foundation, Gala Games, and Genopets Partner to Bring VGX Token Rewards to Genopets Players – Blockchain News, Opinion, TV and Jobs

George Town, Cayman Islands, April 3rd, 2024, Chainwire The VGX Foundation, a Cayman Islands Foundation, has partnered with Genopets to integrate the VGX token as a reward in their popular move-to-earn NFT mobile game on Solana. The partnership introduces VGX as a reward token in the Genopets game, creating utility and rewards for using VGX within the Genopets ecosystem.  VGX is a token that bridges multiple chains and is focused on bridging utility across GameFi and gaming ecosystems.  Genopets launched in 2021 and is one of the largest games on…

U.S. SEC Calls for Comments on Spot ETH ETFs

Despite rising hopes after the agency’s approval of bitcoin spot ETFs in January, industry analysts have become less optimistic that the regulator will follow suit with the products tracking Ethereum’s (ETH). The commission had been pressured into abandoning its earlier opposition of the bitcoin applications after a key loss in a court dispute with Grayscale, and SEC officials had argued that their resulting approval of bitcoin ETFs doesn’t apply to other tokens. Source

Bitcoin’s (BTC) Rise Thanks to Currency Devaluations: Cathie Wood

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“There is something else going on around the world.” Wood said. “There are currency devaluations taking place that people are not talking about. The Nigerian naira is down 50, 60% in the last nine months. Egypt just devalued by 40%. Argentina, continuing to devalue. I think is a flight to safety taking place, a hedge against devaluation a hedge against a loss of purchasing power and wealth.” Original

Bitcoin rose by 3,230% on average after each halving

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CoinGecko analysts found that, on average, Bitcoin’s value skyrocketed following its previous halving cycles. According to the report, after each mining reward was halved, the Bitcoin (BTC) rate increased by an average of 3,230%. The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC. Within 12 months of the halving, the asset’s value rose from $12 to $1,075. Over the year, the rate jumped by 8,858%. By January 2022, the inflation rate changed from 25.7% to 12%. The second halving occurred on July 9,…

KuCoin Bitcoin balances drop over 20% following DOJ lawsuit

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Cryptocurrency balances on KuCoin’s exchange fell across multiple digital assets as the platform navigates a regulatory probe involving its founders.  According to KuCoin’s latest asset reserve certificate, the platform’s Bitcoin (BTC) stockpile dropped by over 25% following a U.S. Department of Justice (DOJ) lawsuit alleging bank acts and money laundering violations. KuCoin reported that its users’ BTC decreased from over 16,000 in February to just over 12,000. The drop translates into a difference of around 4,000 BTC within a month. Users withdrew over 31,000 Ethereum (ETH) from the platform, leaving…

What is Hashcash? | Connection between Bitcoin and Hashcash

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Want to know what is Hashcash? It’s the original PoW system, inspiring Bitcoin. Dive in and learn how it laid the groundwork for the number one crypto. With Bitcoin (BTC) surging to new all-time highs, fueled in part by the recent approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), the cryptocurrency is once again dominating headlines and capturing the attention of investors worldwide. Anticipation surrounding the upcoming halving has further contributed to its growing prominence. However, amidst the enthusiasm surrounding its price movements…

Crypto Expert Encourages Investors To Buy The Dip As Bitcoin Price Falls To $64,000

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The Bitcoin price took a sharp downturn recently, dipping below $67,000 and raising concerns among investors. However, a crypto analyst has encouraged the crypto community to buy more Bitcoin at this time, suggesting that the decline presents an opportunity to acquire BTC at a lower price.  Bitcoin Decline Signals Prime Buying Opportunity Michael van de Poppe, a popular crypto analyst and enthusiast, has remained optimistic about Bitcoin’s future outlook, urging the broader crypto community to view the cryptocurrency’s recent dip as a buying opportunity. In a recent X (formerly Twitter)…