Prices for major cryptocurrencies, as well as shares of Coinbase Global (NASDAQ:COIN) and MicroStrategy (NASDAQ:MSTR), slumped on Friday as the collapsed crypto exchange Mt. Gox began paying back creditors. Nobuaki Kobayashi, the trustee for the Mt. Gox bankruptcy estate, announced that the estate has “made repayments in Bitcoin and Bitcoin Cash to some of the…
Concerns that the Mt. Gox bankruptcy redemptions will drive down the price of Bitcoin (BTC) are largely unfounded, according to Presto Labs’ Head of Research. However, the scenario could be more bearish for Bitcoin Cash. Market Impact Analysis As Bitcoin’s price continues to dip below $60,000, the market has already seen over $200 million in…
Fears of impending selling pressure from the defunct Mt. Gox exchange and potential miner sales pushed Bitcoin (BTC) under $59,000 on Thursday, marking its lowest level since late April. The anticipation of asset distributions from Mt. Gox, set to begin in July 2024, has contributed to the market’s anxiety. Market Impact and Liquidations Mt. Gox,…
Bitcoin (BTC-USD) slid to a two-month low on Thursday, extending a month-long decline as uncertainty over U.S. presidential elections and reports of bitcoin supply from the defunct Tokyo-based crypto exchange, Mt. Gox, weighed on the market. Bitcoin fell more than 2% to $57,843, its lowest since May 2, and has lost more than 6% so…
The United States, famously described by Walt Whitman as “large” and containing “multitudes,” is a land of diverse ideals and evolving mottos. Once unified under “e pluribus unum” (“from many, one”), the country’s guiding principle is now “In God We Trust.” Yet, the American Dream remains an enduring myth, promising success through hard work, talent,…
Bitcoin price prediction remains a hot topic in the cryptocurrency world. Recently, Bitcoin’s value dipped below $61,000, causing concern among investors. Despite this downturn, some traders remain bullish, predicting that Bitcoin could reach $150,000 by the end of 2024. Current Bitcoin Price Trends Bitcoin (BTC) experienced a significant drop, falling below the $61,000 mark. This…
Robinhood Markets Inc. (NASDAQ:HOOD) is considering offering cryptocurrency futures in both the United States and Europe. This potential expansion was first reported by Bloomberg, citing anonymous sources familiar with the matter, as the plans have not yet been made public. Expanding Crypto Offerings According to these sources, once Robinhood completes its $200 million acquisition of…
DeFi tokens have experienced a significant plunge, dropping between 10-20% amid weak crypto price action this week. This downturn in decentralized finance (DeFi) tokens highlights the volatility and challenges within the broader cryptocurrency market. DeFi Tokens Face Steep Declines The DeFi sector, known for its decentralized financial products and services, has seen some of its…
The crypto industry is experiencing a significant surge, with analysts predicting that it will soon outperform the early growth of the internet. This article explores the factors driving the crypto industry boom and its potential to reshape the financial landscape. The Rise of the Crypto Industry According to a recent report by Architect Partners, the…
The Polifi sector has taken a significant hit as the political tussle between Trump and Biden intensifies. The sector, which once held promise, has seen a massive downturn, with Boden, one of its major players, dropping 95% from its peak. This article delves into the implications of this decline and explores the broader impact on…