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Tag: Bitcoin

  • Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets—What’s Next for BTC?

    Mt. Gox Stirs Market with 500 Bitcoin Transfer to Unknown Wallets—What’s Next for BTC?

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    Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

    Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

    Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

    When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

    Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

    In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

    Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

    PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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    Samuel Edyme

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  • Trump Vows to End Harris’ War on Crypto as He Celebrates Bitcoin White Paper’s 16th B-Day

    Trump Vows to End Harris’ War on Crypto as He Celebrates Bitcoin White Paper’s 16th B-Day

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    Donald Trump, former president of the United States and Republican nominee for the upcoming presidential elections, has renewed his vow to end his Democrat rival Kamala Harris’ war on crypto.

    The pledge was made in a tweet celebrating the 16th anniversary of the Bitcoin white paper, which was written by Satoshi Nakamoto, the pseudonymous network creator.

    Celebrating Bitcoin White Paper

    On October 31, the crypto community celebrated the 16th year of the Bitcoin white paper publication. Nakamoto released the document titled Bitcoin: A Peer-to-Peer Electronic Cash System to a cryptography mailing list operated by a group of cypherpunks on October 31, 2008. These individuals discussed building a digital currency and payment system, and Nakamoto’s actions brought their ideas to life.

    While the nine-page document was received with mixed reactions, it has served as the foundation of an industry worth trillions of dollars today. The Bitcoin white paper led to the invention of blockchain technology, sparking a financial revolution that championed the move for decentralization.

    Over the last 16 years, the crypto industry has witnessed the creation of millions of cryptocurrencies and about 759 exchanges, with a total market capitalization of $2.42 trillion. While the market has expanded significantly, bitcoin remains dominant, retaining about 58.9% of the total market share at a value of $69,000 per BTC at press time.

    In addition, Bitcoin has gained recognition from several countries, and traditional finance firms are increasingly adopting the digital currency as their treasury reserve asset. Many analysts believe the crypto asset is an ideal store of value for long-term investments.

    Ending the War on Crypto

    As Trump continues his race for the seat of the U.S. president, he has become more involved with the crypto industry. A few weeks ago, he unveiled his crypto project, the decentralized finance protocol World Liberty Financial (WLF). The project has conducted a public token sale and plans to launch a stablecoin soon.

    Trump’s pro-crypto stance has led the presidential candidate to pledge to support the industry upon his election victory. He has repeatedly promised to fire anti-crypto politicians and ensure that the remaining BTC will be mined in the U.S.

    “We will end Kamala’s war on crypto, & Bitcoin will be MADE IN THE USA! VOTE TRUMP!” he said on Thursday.

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    Mandy Williams

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  • Bitcoin Price Slides Below $70,000: These Are The Key Reasons

    Bitcoin Price Slides Below $70,000: These Are The Key Reasons

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    Este artículo también está disponible en español.

    The Bitcoin (BTC) price has experienced a significant downturn over the past 24 hours, falling below the critical $70,000 threshold. After reaching a peak of $73,620 on Tuesday, the cryptocurrency has declined by approximately 5.7%, hitting a low of $68,830 on Friday. Analysts point to several key factors behind this decline:

    #1 Risk-Off Sentiment Ahead of US Election

    The timing of Bitcoin’s price drop coincides with a narrowing lead for former President Donald Trump over Democratic candidate Vice President Kamala Harris in prediction markets such as Polymarket and Kalshi, where users bet on election outcomes. Bitcoin has been considered a “Trump hedge” due to the former president’s strong advocacy for the cryptocurrency sector.

    Donald Trump has proposed establishing a “strategic Bitcoin reserve” in the United States if re-elected. Speaking at the Bitcoin 2024 Conference, he outlined plans to retain all Bitcoin currently held or acquired by the US government as part of this reserve. This initiative is a core element of his campaign to strengthen the US as a leader, aiming to make the country the “crypto capital of the planet.”

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    Earlier in the week, when Trump’s lead over Harris was more substantial, Bitcoin neared its all-time high of $73,777. The shrinking of Trump’s lead appears to have prompted investors to adopt a risk-off stance, contributing to the price decline.

    Crypto analyst HornHairs noted that derisking before elections has precedent. “Derisking into the election 5-6 days before it takes place happened in both 2020 and 2016. Price then went on to never retest the lows set the week before the election ever again. Be careful what you sell here,” he remarked via X.

    #2 S&P 500 Loses 3-Month Trendline

    The correlation between Bitcoin and traditional financial markets may have also influenced BTC’s price movement. The S&P 500 has fallen to its lowest level since October 9, potentially affecting investor sentiment in the crypto space.

    Analysts from The Kobeissi Letter observed that despite major tech companies like Apple reporting strong earnings, their stock prices have declined. “Yet another tech giant to beat earnings but trade lower,” they noted, adding that technology stocks faced widespread selling even as Meta, Amazon, and Apple exceeded earnings expectations. They added, It appears that markets are de-risking ahead of the election next week. Brace for volatility.”

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    Crypto trader Marco Johanning highlighted concerns about the S&P 500 losing its three-month trendline. “Given that the S&P 500 lost the 3-months trendline yesterday, it looks more like a potential selloff before the US election on Tuesday and lower prices in the short term. The perfect bounce level is the 7-month trendline (blue). I don’t want to see prices below the POC/key level around 63k (red),” he wrote via X.

    #3 Leverage Flush Out

    A significant unwinding of leveraged positions in the markets has also contributed to Bitcoin’s price decline. The market correction appears to be a healthy response to an overextension driven by leverage.

    Renowned crypto analyst Miles Deutscher noted: “This pullback is normal (and expected). Market was looking overextended the last few days, and largely driven by leverage. Still not buying heavy as it isn’t a full cascade yet—will wait for one of those days around the election. Not a bad DCA day for certain coins tho.”

    Austin Reid, Global Head of Revenue & Business at crypto prime brokerage firm FalconX, pointed out that the crypto derivatives market was “on fire” ahead of the election, with futures open interest for BTC, ETH, and SOL crossing the $50 billion mark for the first time.

    On-chain analyst Axel Adler Jr reported that open interest was reduced by $2.1 billion, implying a significant leverage flush out.

    Bitcoin leverage flush out | Source: X @AxelAdlerJr

    According to data from Coinglass, over the past 24 hours, 93,864 traders were liquidated, with total liquidations amounting to $286.73 million. The largest single liquidation order occurred on Binance’s BTCUSDT pair, valued at $11.26 million. For Bitcoin alone, $81.38 million in long positions were liquidated—the largest amount since October 1.

    At press time, BTC traded at $69,446.

    Bitcoin price
    Bitcoin price, 1-day chart | Source: BTCUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • The Canadian Factors Making Bitcoin’s $100K Milestone Possible

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