Collapse

September started weak for the broader crypto market as it burned down 3% in favor of the bears. Despite this, Helium (HNT) continues to shrug off the fear, uncertainty, and doubt that plague the market environment. According to CoinGecko, HNT went against the market consensus, rising over 16% since last week — and outperforming the top 100 cryptocurrencies on Monday. The Helium ecosystem boasts astonishing gains as it experiences continued and strong on-chain developments, several of which contributed to HNT’s…

The post Michael Saylor’s Bitcoin Strategy Amid Economic Collapse appeared first on Coinpedia Fintech News In a podcast with Altcoin Daily, Michael Saylor, CEO of microstrategy microstrategy Business Intelligence warns that the recent economic collapse is more significant than most realize, especially concerning digital power and Bitcoin. michael saylor michael saylor Micheal J Saylor is the greatest visionary in the Information Systems industry. An enthusiastic blockchain influencer and a splendid leader. He believes that prudent institutional investors should only consider…

“Black Monday.” That is what the broader market termed Bitcoin’s (BTC) price correction from $58,000 to $49,000 on August 5. For experienced players who have seen the bull and bear of different cycles, that incident was not surprising. While the event caused a plethora of large-scale liquidations, participants may wonder whether that was the worst one-day correction. This on-chain analysis gives more context to this thought. Bitcoin Not Overvalued Yet, Future Gains Possible To answer this question, BeInCrypto looks at…

The post Emergency FED Meeting: Will a 50 Basis Point Cut Save the $13 Trillion Market from Collapse? appeared first on Coinpedia Fintech News The U.S. Federal Reserve (FED) has just called an emergency meeting as global markets are in total chaos right now. The big guess is that they’ll cut interest rates by 50 basis points. This could be a huge move to stop the financial mess. In just a week, the Japanese yen has crashed by 13%. Meanwhile,…

FTX, the collapsed cryptocurrency exchange led by Sam Bankman-Fried, is set to distribute $16 billion in cash to customers as part of an agreement with US government agencies. The influx of funds could drive up prices in the crypto market, with a focus on tokens like Bitcoin and Solana. Meanwhile, emerging opportunities like Pawfury’s presale success signal potential growth and a 15,000% ROI by 2025. FTX, a cryptocurrency exchange that collapsed in November 2022 under the leadership of Sam Bankman-Fried,…

The mass adoption of Bitcoin globally is perceived as a desire for an alternative, better store of value in the long haul as more governments gradually devalue their respective fiat currencies. Chris Wood from Jefferies has inferred that short-term Bitcoin price volatility will be dismal in the long term amid mainstream adoption. In the wake of the much anticipated Mt.Gox repayment that began on Friday, Bitcoin’s (BTC) price registered heightened volatility. The flagship coin dropped as low as $53,898 earlier…

The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level.  Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the…

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…

Bitcoin miners are currently facing significant “capitulation,” pushing them to innovate for additional revenues. Bitcoin miner capitulation occurs when miners are forced to shut down due to unprofitability or unsustainable operating costs. This can happen when the cost of mining (including electricity, hardware, and operational expenses) exceeds the revenue generated from mining the bellwether asset. Bitcoin Miners Face Economic Pressures Amid Capitulation Data from CryptoQuant shows a 7.6% drop in Bitcoin mining hashrate this month, now resembling levels last seen…