Day: July 4, 2024

Mt. Gox repayments test and German BTC sell-off: Bitcoin still bullish?

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Bitcoin has experienced a stark correction in the last 24 hours, sparking fear in the market. Could the possible short-squeeze scenario reignite the bullish flames? In June 2024, the defunct Bitcoin (BTC) exchange Mt. Gox announced a major move that could shake the crypto world. This once-dominant platform, infamous for losing 850,000 BTC in a 2014 hack, is set to distribute the recovered assets to its creditors. According to Nobuaki Kobayashi, the Rehabilitation Trustee, repayments will commence in early July. The plan involves distributing 142,000 BTC and Bitcoin Cash (BCH),…

Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter

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The crypto market is in a state of panic with a market-wide crash that has shaken Bitcoin and altcoins. With the Bitcoin price continuing to fall from support after support, tens of thousands of traders have lost their positions, leading to hundreds of millions of dollars in losses in just the last day alone. Crypto Market Liquidations Cross $290 Million In the last 24 hours, the Bitcoin price has been crashing, eventually falling below $57,000 before recovering again. However, the damage has already been done, with long traders suffering the…

How Bitdeer is navigating Bitcoin mining and AI integration

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Bitcoin mining company Bitdeer is integrating high-performance computing and AI technologies while prioritizing transparency and vertical integration to revolutionize the mining industry. With U.S. presidential candidate Donald Trump’s ambitious plans to mine all future Bitcoin in the U.S., Bitcoin mining has become a pivotal element in his bid for the presidency. Talks of crypto and Bitcoin mining are dominating political campaigns and procedures. The marriage of Bitcoin mining with cutting-edge technologies like Artificial Intelligence (AI) and high-performance computing (HPC) is reshaping the industry. Publicly traded miners are exploring these technologies…

Peter Schiff says Bitcoin price at ‘critical support’: is he right?

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Bitcoin price was trading lower on Thursday as a negative sentiment in the crypto industry continued while the German government dumped more tokens. The BTC token dropped to a low of $59,918, its lowest point since May 1st. It has also moved into a technical bear market as it dropped by 20% from its highest level this week. Peter Schiff, a well-known player in the financial industry and Bitcoin bear continued to warn about Bitcoin. In an X post, he warned that the coin would drop sharply if it lost…

Investor demand returns to bitcoin despite stagnant price, data shows

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Crypto investors have been feeling a kind of déjà vu with the sluggish price of bitcoin having barely budged for months now. However, data shows demand for the cryptocurrency has slowly been returning and could soon be reflected in prices. Bitcoin has been wrestling with $70,000 for much of this year, its struggle was exacerbated when miners began selling their bitcoin in greater amounts last month, seeking to cover operating expenses following weeks of depressed transaction fees and the slashing of miners’ block reward at the halving . Some larger…

Bitcoin To Bounce Back? Analyst Predicts $90,000 After $58K Drop

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The recent dip in Bitcoin (BTC) might be a temporary hiccup, according to Lark Davis, a popular crypto analyst. Davis is calling for a significant upswing in Bitcoin’s value in the coming weeks, with a target of $90,000 by year’s end. This optimistic outlook comes amidst a wave of optimism surrounding institutional investment and the potential arrival of Bitcoin exchange-traded funds (ETFs). Related Reading Institutional Investors Set To Supercharge The Market Davis believes a surge of institutional money is poised to enter the crypto market, acting as a major catalyst…

Ethereum Faces Sharp Decline As ETH Targets $3,051 Support Level

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Ethereum (ETH) is experiencing a significant downturn, with its price rapidly approaching the crucial support level of $3,051. This sharp decline highlights increased selling pressure and growing bearish sentiment in the market.  As Ethereum nears this critical threshold, traders are closely monitoring its behavior for signs of either a stabilization or a further drop. The $3,051 support level is now a focal point, determining the short-term direction of Ethereum’s price action and potentially setting the stage for future movements in the cryptocurrency market.  This article aims to analyze the sharp…