Day: May 29, 2024

Analyst Predicts Bitcoin To Hit $156,000 By May 2025

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The enigmatic world of Bitcoin continues to captivate investors with its price fluctuations. However, a recent analysis by Cryptorphic, a prominent crypto analyst, suggests the future might be brighter than recent dips might indicate. Their prediction? Bitcoin hitting a staggering $156,000 by May 27th, 2025. Related Reading The Halving Effect: A Historical Catalyst Cryptorphic’s prediction hinges on a historical phenomenon known as the halving. Every four years, the number of Bitcoins rewarded for mining new blocks is cut in half. This, in theory, reduces the supply of new coins entering…

Cyber engineers ‘hacked time’ to recover $3m in Bitcoin from password manager

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American engineer Joe Grand with his friend Bruno discovered a loophole in an older version of the RoboForm password manager, enabling them to recover $3 million in BTC. Hardware hacker and engineer Joe Grand together with his friend, software hacker Bruno have found a loophole in an old version of the RoboForm password manager, enabling them to recover millions worth of Bitcoin. In a YouTube video published on May 28, Grand explained that in 2022 he was reached out by Michael, a European crypto owner who sought his help to…

Viral Meme Coin, Memeinator, Lists On Exchanges After Raising $7.7M – Blockchain News, Opinion, TV and Jobs

London, United Kingdom, May 29th, 2024, Chainwire Memeinator the viral new meme coin, continues its upward trajectory following its successful $7.7 million presale and has confirmed it will list its MMTR token today, the 29th of May, at 3 PM UTC on both MEXC and Uniswap. MEXC, popular among both novice traders and experienced investors, has listed several meme coins that have shown significant growth in 2024, such as MEME and BONK. The exchange currently has trading volumes exceeding $1.6 billion and serves over 10 million users across more than…

BlackRock’s IBIT flips Grayscale’s GBTC to lead US spot Bitcoin ETFs

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BlackRock’s IBIT has surpassed Grayscale’s GBTC, becoming the largest spot bitcoin ETF in the U.S. The latest flip comes after BlackRock’s spot bitcoin exchange-traded fund (ETF) saw a $102 million inflow on Tuesday. IBIT now holds nearly $20 billion worth of bitcoin, as reported on its product page on Wednesday morning. In contrast, GBTC holds $19.7 billion after experiencing $105 million in outflows on the same day. On May 28, BlackRock incorporated the bitcoin ETF into its income and bond-focused funds during the first quarter. The firm’s Strategic Income Opportunities…

Bitcoin ETFs see $45m in inflows

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Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded a net inflow of $45 million on May 28.  This extended their win rate to 11 straight days despite the Grayscale Bitcoin Trust ETF (GBTC) experiencing $105.2 million in outflows. These ETF products collectively saw an inflow of 632 BTC. The positive capital flow was due to BlackRock’s and Fidelity’s products overshadowing the 1,550 BTC outflow from GBTC.  Notably, BlackRock’s iShares Bitcoin Trust (IBIT) witnessed inflows worth $102.5 million, the largest for any ETF. Meanwhile, Fidelity’s Wise Origin Fund (FBTC) recorded the second-highest…

Analysts say Bitcoin’s hashrate surge will ‘smack miners’

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Crypto mining analytics firm Hashrate Index says public Bitcoin miners are energizing their ASIC orders on schedule. Bitcoin miners are about to face a “hefty upward difficulty adjustment” in eight days as public mining giants accelerate their operations. According to analysts at Hashrate Index, top public miners have 76.6 EH/s of equipment on order for 2024, with 12.9 EH/s scheduled for delivery in Q1 and nearly 36 EH/s expected in Q2. “[…] the current surge in hashrate is going to smack miners with a hefty upward difficulty adjustment in about…

Whales Push Bitcoin Into Narrow Range: What To Expect Next

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Recent analytical insights from FireCharts 2.0 are indicating significant maneuvers by major stakeholders of Bitcoin—often referred to as “whales”—which are impacting the cryptocurrency’s price movements. These stakeholders are altering liquidity patterns in a manner that suggests a strategic push towards a more tightly controlled trading range. What Bitcoin Whales Are Up To According to Material Indicators, an advanced trading analytics, there has been a noticeable adjustment in the distribution of liquidity within Bitcoin’s order book. Specifically, there is a decrease in ask liquidity at higher price points, coupled with an…