Bitcoin

The post Bitcoin Fear and Greed Index Drops as Mt. Gox Repayments Begin After a Decade appeared first on Coinpedia Fintech News The on-set of Mt.Gox crypto repayments on Friday to creditors after a decade is a surreal experience for most traders. Moreover, crypto traders who were impacted by the 2013-2014 collapse of Mt.Gox will be reimbursed their funds in the next three months.  As a result, the Bitcoin fear and greed index had dropped from neutral to fear, around…

Joana Cotar, an independent member of the Bundestag, one of Germany’s legislative chambers, has called on the government to stop the ongoing Bitcoin (BTC) sell-off, which has had a notable impact on the BTC market, resulting in a 10% drop in the cryptocurrency’s price over the past two weeks.  Bitcoin As Valuable Asset Class For State Treasury In a letter addressed to the government, Cotar emphasized that BTC has gained recognition as a genuine asset class and a promising investment…

In the last four days, the Bitcoin price has plummeted over 15%, with a significant 7.8% drop occurring in just the past 24 hours. From a high of nearly $72,000 in early June, the price of BTC has now declined by almost 25%. Here are the key factors behind yesterday’s dramatic fall in price. #1 Mt. Gox’s Bitcoin Repayments The impending distribution of 142,000 BTC by the defunct crypto exchange Mt. Gox has significantly stirred market anxiety. This amount, representing…

Recent trading patterns have led QCP Capital, a prominent trading firm, to highlight potential signs of a market bottom in the crypto market. Bitcoin, the leading digital currency, recently dipped below $58,000, causing analysts to focus on the behavior of miners and their possible capitulation. Such capitulation could indicate a market bottom, similar to past market cycles. In 2022, a parallel hash rate drop saw Bitcoin prices plummet to $17,000, suggesting a recurring theme that could signal an upcoming rebound.…

Carnage is taking place in the cryptocurrency space. Bitcoin has stepped over the brink and has fallen to $54,000. And it probably isn’t even over yet. The main support at $51,000 awaits below. Could $BTC fall even further than this? A full 30% correction coming? It has been a wretched week for Bitcoin and the cryptocurrency market. The Alpha crypto currency fell nearly 15%, which equates to a loss of around $9,300. This is also now a 27% reversal since…

Amidst the carnage of the current cryptocurrency market crash, Solana ($SOL) is holding up well, especially against its $BTC and $ETH pairings. Is this a sign of things to come for Solana? With $BTC down around 4.3% so far on Friday, and with the entire crypto investment space probably wondering just how much further it might fall, $SOL is holding up extremely well in comparison. A lot of the altcoins are doing a lot worse than $BTC, so this makes…

Mt. Gox, a name synonymous with one of the most dramatic episodes in the cryptocurrency world, has started disbursing Bitcoin and Bitcoin Cash to its creditors. This significant move was announced on July 5, 2024, marking a pivotal turn in the long-drawn rehabilitation process of the defunct Bitcoin exchange. Bitcoin and Bitcoin Cash’s prices have been volatile amidst this development. Mt. Gox Still Holds Bitcoin Worth $7.69 Billion The repayment initiative stems from Mt. Gox’s complex bankruptcy proceedings. The firm…

The post Mt. Gox Moves 47,229 Bitcoin: Will the Crypto Market Face a Massive Sell-Off? appeared first on Coinpedia Fintech News Mt. Gox transfers $2.7B worth of $BTC to a new wallet! The move, involving 47,229 $BTC, is part of preparations for creditor repayments, with test transactions to ensure a smooth process. Analysts speculate on market impacts. Bitcoin’s price temporarily fell below $58,000 as the double whammy of the German government wallet selling and the starting of repayments from Mt…

The post Mt. Gox Terror Strikes Markets, Bitcoin Faces Second-Largest Long Liquidation in History After FTX Collapse, What’s Next? appeared first on Coinpedia Fintech News Ever since Mt. Gox released its rehabilitation plan to repay the creditors who lost their BTC in a hack that occurred in 2013, the markets have become extremely furious. As Bitcoin price continued to rise, the fear of selling pressure began to hit the highs. As a result, the market participants seem to have closed…