Cryptocurrency

Schiff seems to recognize, with a critical undertone, the strong belief and perseverance found within the Bitcoin community as their responses highlight. Schiff is still unequivocally skeptical of Bitcoin.Many people have carefully studied Bitcoin, including Schiff, and come to the conclusion that it does not live up to their standards or expectations as a profitable investment. The positivity and bullish attitude that are typical among Bitcoin enthusiasts and investors stand in stark contrast to this point of view.Bitcoin has proven remarkably resilient in the face of numerous regulatory obstacles and market fluctuations. The current price of Bitcoin, which has recovered from earlier lows, is roughly $68,000. The market’s reaction to Bitcoin has been conflicted, while some like Schiff believe it will remain viable in the long run, others view it as a digital goldmine and a hedge against inflation.Right now Bitcoin is performing well technically. As the price moves above significant moving averages, the chart shows a bullish trend. Support is coming from the 50-day EMA, and the recent price action points to a possible increase if the current momentum holds.Additionally, the RSI is within a healthy range, suggesting that the asset is not overbought. Even with Schiff’s critical stance, there is a strong belief in the future of cryptocurrencies as evidenced by the poll results and the state of the Bitcoin market.This article was originally published on U.Today More

Schiff, a gold bug and a cryptocurrency critic, had reacted to a certain comment made at the ongoing Bitcoin Conference, stating: “Some guy at the Bitcoin Conference just said that Bitcoin is the world’s best kept secret. Pumpers have to at least make their lies believable. Almost everyone knows about Bitcoin. There are 20,000 people at that conference. The biggest annual gold conferences attract around 500.”Schiff’s post implied that Bitcoin’s widespread recognition and the high attendance at Bitcoin conferences contradict claims of it being a “secret.” He also used the comparatively lower attendance at gold conferences to highlight the hype surrounding Bitcoin.Schiff’s comments caught Brandt’s attention, who did not hold back his response. Highlighting the stark contrast in attendance figures between Bitcoin and gold conferences, Brandt responded, “That’s because most of the gold bulls have died off.”The outlook remains optimistic howbeit cautious. In an X post, CryptoQuant CEO Ki Young Ju noted that Bitcoin remains in an accumulation phase as 358,000 BTC were moved to permanent holder addresses over the past month.Ju also believes that the Bitcoin bull cycle might last until mid-2025, citing that old whales selling during bull markets bring new capital into accumulation addresses, thus raising realized prices.Marathon Digital (NASDAQ:MARA) Holdings, the world’s largest Bitcoin miner, added $100 million in Bitcoin over the last month, bringing its total to more than 20,000 Bitcoin. Marathon’s CEO and chairman, Fred Thiel, stated in a July 25 X post that the company will “now go full HODL” to keep Bitcoin as its strategic treasury reserve asset.This article was originally published on U.Today More

The last time when he “touched” his crypto was 2012 — the still early years of Bitcoin and only two years after the enigmatic Satoshi Nakamoto opted to go under the radar.While back at the start that Bitcoin was worth only $476, now, in July 2024, this crypto is valued at $2,498,054. This constituted crazy 524,701% profit growth.Earlier this week, Whale Alert published data on several other dormant wallets that had been unearthed containing millions worth of Bitcoin each.However, other category of users have just been patiently waiting, watching as the world’s flagship cryptocurrency has been gradually rising in price over the past 10 to 12 years and then decided to call it a day and lock in their huge profits.This year, Bitcoin reached a new price all-time high when it hit $73,750 on March 14. That historic price surge was largely caused by two main factors. The first one was the enormous Bitcoin buying spree started by spot BTC ETFs in January, when those 11 ETFs bought roughly 10,000 BTC per week.The second one was the anticipation of the fourth Bitcoin halving by the global community. The event took place on April 20 and it slashed Bitcoin block rewards earned by miners from 6.25 to 3.125 BTC.This article was originally published on U.Today More

2024 started with explosive growth in games like Hamster Kombat, breaking Guiness world record milestones, and Catizen, establishing itself as one of the fastest growing crypto gaming communities. After an explicit call from Telegram CEO Pavel Durov for a canine complement, it was only a matter of time that a dog-inspired game would emerge at the forefront.Dogizen has announced itself as a competitor to the likes of both Hamster Kombat and Catizen for the almost 1 billion Telegram users’ valuable attention.Hamster Kombat has set the precedent for the casual gaming and idle earning space and is expected to be a great opportunity for investors and traders to “tap” into the T2E market. Dogizen aims to capitalize on this momentum, recognizing the significant potential in this burgeoning space.Dogizen’s game mechanics will revolve around connectivity and travel. The team promises that users on the platform will be able to connect with friends through referrals, book flights, collect passport stamps, and explore new destinations, all while increasing their tap-to-earn potential.With features specifically designed to accelerate user bonus acquisition, enabling new players to earn tokens faster than similar games, Dogizen aims to attract as many competitors’ users as possible.A team member from Dogizen explained “We love Pavel for everything he has done for the community and the world with Telegram and truly believe that it is bringing people closer together. While Dogizen is not political we have an aim to connect people and want to stay true to the cause”When asked about the plans for a team reveal: “the Dogizen team will be revealed in good time, and we want to make it an exciting event – we truly believe we can make something happen here that will shake up the status quo. It is something that our community should look forward to.”Meanwhile developers and wider crypto projects are a key target audience for the Dogizen universe, with the team welcoming in-game collaborations, sponsored partnerships and placements from advertisers, which will incentivise development on the TON network and keep Dogizen relevant for years to come.Dogizen is set to launch Thursday, 8th August, further announcements will be made on the official website.ContactDogizenpr@dogizen.ioThis article was originally published on Chainwire More

In July 2020, after months of trading below $10,000, Bitcoin began a price run that would later define its history. Bitcoin surpassed the $10,000 mark and would later reach highs above $65,000 in the months that followed – specifically, in April 2021.Bitcoin subsequently waved goodbye to the sub-$10,000 level, a threshold it has not revisited since. Reflecting on this, Rizzo tweeted, “4 years ago today, you had your last chance to buy Bitcoin under $10,000.”Since then, Bitcoin has experienced tremendous growth, bidding farewell to the sub-$10,000 level, a price point that now appears to be a distant memory.From subsequent highs of nearly $65,000 in April 2021 to the declines that followed and then highs above $69,000 in November 2021, the 2022 bear market and its current all-time highs of nearly $74,000 in mid-March, Bitcoin’s journey has been nothing short of captivating.VanEck, an issuer of spot Bitcoin and Ethereum ETFs, predicts that BTC’s price might reach $2.9 million by 2050 if some significant hurdles are cleared.According to VanEck’s estimates in a Wednesday report, Bitcoin might become a vital part of the world monetary system in the coming decades.If events unfold as VanEck predicts, Bitcoin’s price might climb by nearly 44 times, gaining 16% annually from its present price of above $67,000, and its market capitalization might skyrocket to $61 trillion.This article was originally published on U.Today More

This price recovery has not gone ignored, with MicroStrategy Cofounder and Chairman Michael Saylor issuing a bold statement to capture the moment.Saylor took to X to share his excitement about Bitcoin’s price rebound. In a tweet, Saylor wrote: “Don’t miss liftoff. Bitcoin.” This brief-yet-powerful message encapsulates his belief in Bitcoin’s potential and might be a call for the crypto community to stay focused as Bitcoin navigates its path in the short term.Bitcoin’s price recovery to $67,000 comes as the crypto market successfully fends off further losses following a sell-off earlier this week.The cryptocurrency market extended its losses on Tuesday, the first trading day for Ethereum ETFs, as Mt. Gox handed more Bitcoin to creditors and investors cashed out after the cryptocurrency’s best week since March.A reversal in stocks sent the S&P 500 and Nasdaq Composite to their lowest levels since 2022, impacting cryptocurrencies. Bitcoin fell to a low of $63,479 on Thursday after three consecutive days of losses, before rebounding significantly.There is little expectation that the Federal Open Market Committee, which sets interest rates, will make any movements during its policy meeting next Tuesday and Wednesday. However, the market anticipates a rate decrease at the September meeting, which would be the first in years.As inflation reached its greatest level in more than 40 years in mid-2022, the Fed launched a series of aggressive hikes, raising its benchmark borrowing rate to its highest level in almost 23 years.However, the Fed has remained on hold for the past year while it assesses shifting data that, earlier this year, suggested a comeback in inflation. But it has recently shown a steady cooling, prompting many policymakers to discuss the possibility of at least one cut this year.This article was originally published on U.Today More

In a significant move this July 2024, BTCC has launched up to 50x leverage on over 300 USDT-margined trading pairs. This development follows the successful introduction of 500x leverage on major trading pairs, including BTC, ETH, XRP, SOL, and DOGE. BTCC has now decided to elevate the futures trading experience by increasing the available leverage from 20x to 50x, setting a new standard in the crypto trading world where most exchanges only provide up to 20x leverage for their traders.Since this launch, nearly 25% of orders have been placed with 50x leverage, showcasing the strong demand among traders. The 300+ cryptocurrencies feature many of the coins in the market right now, such as PEPE, SATS, WIF, SHIB, ZK, WLD, AVAX, and TON.About BTCC Exchange BTCC, established in 2011, is one of the world’s longest-serving and most reputable cryptocurrency exchanges. Known for its robust security measures and user-friendly platform, BTCC offers a wide range of features, including spot trading, futures trading, and copy trading, catering to both novice and experienced traders.Website: https://www.btcc.com X: https://x.com/BTCCexchange ContactAaryn Lingpress@btcc.comThis article was originally published on Chainwire More

Nevertheless, it appears that Bitcoin has escaped this bearish pattern and is unlikely to face it. Rebounding from important support levels and continuing on its upward trajectory, the price action of Bitcoin has shown resilience. The mini death cross scenario has not yet materialized since the 50 EMA is still above the 100 EMA. This suggests that the increased selling pressure that some had anticipated might not appear on the market. This optimistic perspective is supported by on-chain data. A total of 72% percent of Bitcoin addresses are in the money, meaning that they contain Bitcoin that was bought for less than its current market value.This points to a high degree of investor confidence and possible support levels that might stop additional losses. In addition, the correlation between volume and price suggests that Bitcoin is receiving a consistent stream of capital inflow, which is essential to keeping its price levels stable. Currently, the price is at a critical point of $67,105, where almost 89,000 addresses are at the money, forming a strong support zone. The general mood of the market is still cautiously optimistic. Bitcoin’s ability to hold above significant moving averages and support levels suggests that its bullish trend may continue despite the recent volatility. To see which way the market may move, traders and investors should closely monitor rapid price changes and on-chain metrics, to foresee a surge in selling pressure.This article was originally published on U.Today More