Transactions Begin Mt. Gox has started repaying creditors by transferring a small amount of Bitcoin to Bitbank, one of the authorized exchanges. This follows months of planning to distribute $8.2 billion in Bitcoin owed to creditors. Test Transactions? The initial transfer was for only $24. It’s unclear if this is a test run before larger…
Despite the recent market downturn, some investors are taking advantage of the dip to buy up cryptocurrencies. Whale Accumulates Meme Coins One whale has been accumulating meme coins, including Shiba Inu (SHIB) and PEPE. The whale withdrew 957.77 billion PEPE tokens (worth $9.84 million) and 583.78 billion SHIB tokens (worth $9.68 million) from Binance. Other…
Bitcoin Benefits from Dollar Collapse Chris Wood, Chief Strategist at Jefferies, predicts that the potential collapse of the US Dollar Paper Standard could boost Bitcoin holders in the US. Macroeconomic Factors Wood argues that aggressive monetary policies and rising debt levels threaten the dollar’s dominance as a reserve currency. This could lead investors to seek…
Bitcoin Plunges After a dismal June, investors hoped July would bring a recovery. However, Bitcoin has now not only lost its initial gains but has also fallen below $58,000, marking a 4% drop in the past 24 hours. Derivative Market Meltdown The Bitcoin crash has triggered a mass liquidation event in the cryptocurrency derivatives market….
Promises, Webinars, and Empty Accounts Sam Ikkurty and his companies lured investors with promises of 15% returns on “stable” cryptocurrencies like Bitcoin and Ethereum. However, court documents show that these claims were misleading. Ikkurty’s funds lost nearly 99% of their value in a short time. A Classic Ponzi Scheme Instead of investing in stable assets,…
According to Ki Young Ju, CEO of CryptoQuant, now is an “ideal time” for whales to accumulate Bitcoin. Despite the recent “boring” price action, Ju believes the market is still in a bull cycle. Whales Buying In Ju noted that whales have been actively accumulating Bitcoin. He pointed out that miners have been hedging against…
Crypto analyst Altcoin Sherpa believes Solana (SOL) is poised for a rally after holding support at $120. He notes that SOL has maintained its 200-day exponential moving average (EMA), indicating potential upside. Bitcoin Remains Uncertain Altcoin Sherpa says Bitcoin (BTC) is still lacking a clear trend, trading sideways between $56,544 and $73,794. He recommends staying…
A prominent cryptocurrency analyst has predicted a surge in the value of the memecoin FLOKI. Bullish Signals Bluntz, a pseudonymous analyst with over 260,000 followers, believes FLOKI is forming a solid support level and an inverse head and shoulders pattern, both bullish indicators. Trading Volume Surge FLOKI’s trading volume has increased significantly as it breaks…
Cryptocurrency analyst Kevin Svenson predicts that Bitcoin (BTC) could reach its cycle top in January 2025. This prediction is based on Bitcoin’s historical behavior after halving events. Halving History After each halving, Bitcoin has typically experienced a period of growth for 40 to 80 weeks. The most recent halving occurred in April 2020, which means…
The crypto market is reeling from a major crash that has sent Bitcoin and other cryptocurrencies plummeting. Liquidations Soar In the past 24 hours, over $290 million worth of crypto has been liquidated, with 105,458 traders losing their positions. Long traders, who bet on rising prices, have been hit the hardest, accounting for 88.61% of…
