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Bitcoin News
Bravenewcoin
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Bitcoin Braces for Further Downside as US Government Prepares to Unload Silk Road Holdings
- The US government is preparing to auction off 69,370 bitcoins seized from the Silk Road marketplace.
- The market fears that this massive influx of cryptocurrency could lead to a significant drop in Bitcoin's value.
- Experts believe that a sudden sale of this magnitude could trigger panic selling and market fluctuations.
- The sale's impact could extend beyond Bitcoin's price, potentially affecting institutional investors and the DeFi ecosystem.
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TronWeekly
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Bitcoin’s $70 Million Whale Sell-Off Sparks Market Panic
- A 2009 Bitcoin whale has sold $4.8 million worth of BTC, moving $624,000 to Kraken.
- The whale holds 1,149 BTC worth $69.94 million and is selling 10 BTC twice weekly.
- Bitcoin dropped 2.45% as market analysts view the whale’s activity as a bearish signal.
- Whale's decision to sell now raises questions about market downturn or cashing in on over a decade of Bitcoin holdings.
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Bravenewcoin
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Inflation Data Triggers Bitcoin Dump, Bullish or Bearish for October?
- U.S. inflation rose more than expected in September with the CPI climbing 2.4% YoY.
- The inflation data has reduced expectations of further rate cuts from the U.S. Federal Reserve.
- Cryptocurrency markets reacted negatively to the news, with Bitcoin (BTC) falling nearly 4%.
- With Bitcoin unable to stay above the $60,000 mark, bullish momentum is waning, and there is increased selling pressure at higher price levels.
- Analysts highlight that for bullish sentiment to return and for new highs to be considered likely, Bitcoin needs to surpass and establish the 200-day moving average as a strong support level.
- Further rate cuts by the United States Federal Reserve or an increase in global liquidity could provide a tipping point for crypto markets.
- Global liquidity refers to the amount of money circulating within the global economy, often measured by the M2 money supply.
- The influx of stablecoins, alongside a spike in whale transactions and on-chain Bitcoin activity, suggests potential for a Bitcoin price rally in the coming weeks.
- Veteran traders and analysts are also bullish, with predictions of Bitcoin reaching $90,000 before Christmas and $135,000 by August/September 2025.
- However, the increased regulatory pressure and uncertainty around possible rate cuts have led to cautious sentiment and a downward pull on prices.
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Bitcoinist
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Crypto Exec Says Bitcoin Price Will Touch $80,000 Before Year-End If This Happens
- Matt Hougan, the Chief Investment Officer (CIO) of Bitwise predicts that the price of Bitcoin (BTC) could reach $80,000 by the end of the year.
- Hougan highlights three major conditions for Bitcoin to outperform this year: the results of the US Presidential elections, two rate cuts, and global stimulus.
- Hougan believes a Republican win would be beneficial for the crypto industry, while a Democratic win could be a hindrance due to some politicians' anti-crypto stance.
- Hougan emphasizes the importance of avoiding bearish surprises like hacks or the sudden release of locked coins to maintain a bullish market.
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Bitcoinmagazine
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Trump Is Winning And We’re Closer Than Ever to Freeing Ross: NIKOLAUS
- According to the world's largest prediction market, Polymarket, the pro-Bitcoin candidate for the upcoming presidential election, Donald Trump has taken a 13% lead over Kamala Harris.
- The election outcome has significant implications for the Bitcoin industry, as Trump promises favorable regulations compared to Harris, who has shown no support for the industry and has a track record of attacking it.
- Bitcoiners are hopeful that a Trump victory would pave the way for the release of Ross Ulbricht, the founder of the Silk Road bitcoin marketplace, who has been imprisoned for over 12 years.
- Ross, through his fiancée, expressed his desire to be free and live a fulfilling life outside of prison, making the election even more critical for those seeking his release.
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Bitcoinchaser
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Join TornadoBet’s Fly & Win Promotion: Play High Flyer for Prizes!
- Join TornadoBet’s Fly & Win Promotion to play High Flyer and win a share of the daily €4,250 prize pool.
- High Flyer is an online multiplayer crash game where you cash out before the Crash happens to win your bet at the current multiplier.
- Place bets of at least €0.15 in the High Flyer slot game to qualify for random cash prizes from the daily pool of 400 prizes.
- The promotion runs from September 19, 2024, to December 4, 2024. Terms and conditions apply.
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TronWeekly
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Will Bitcoin Reach $80K? Political and Economic Outlook for 2024
- Bitcoin (BTC) could hit $80,000 by year-end if there are no major market disruptions.
- Political factors, especially the outcome of the U.S. elections, may impact Bitcoin's trajectory.
- Additional rate cuts and fiscal stimulus could further drive Bitcoin's price upward.
- A stable market environment without major obstacles is crucial for Bitcoin to reach the $80,000 target.
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Altcoinbuzz
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MILLIONS of Crypto VC Funding Is Flowing Into These Altcoins
- Galaxy Digital’s report for Q2-2024 says that $3.2 billion in VC investments came into crypto that quarter.
- One of the recipients of some of that funding is Transak, one of the leading on-ramp and off-ramps to crypto from fiat money.
- Monad is a Layer 1 chain that brings parallel execution to the EVM ecosystem for the first time.
- VCs love investing in chains and protocols that make improvements to EVM. Many VCs see EVM as where Web3 finance will live.
- Berachain is an EVM-compatible Layer 1 chain whose big innovation is Proof of Liquidity as a consensus mechanism.
- Berachain successfully raised $100 million to go with the $42 million they raised earlier.
- Transak's investors are Consensus, Sandeep Nailwal of Polygon, and Animoca Brands.
- Monad just raised $225 million from investors including Paradigm, Electric Capital, and Coinbase Ventures.
- VC backing means they likely have enough money to keep building through the next bear market to survive.
- Emerging markets can save in digital dollars while there is a stable medium of exchange for RWA or other DeFI investments.
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Bitcoinist
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Peter Todd Distressed Over HBO Linking Him To $60B Bitcoin Fortune: ‘He’s Putting My Life At Risk’
- Software developer Peter Todd denies being Satoshi Nakamoto, the creator of Bitcoin, in response to the HBO documentary linking him to Nakamoto through circumstantial evidence.
- Todd refutes the claim made in the documentary, explaining that his internet message board account was not used by Nakamoto, and that users typically used anonymous handles on the Bitcoin message board.
- Todd criticizes the documentary's approach as a weak attempt to identify Nakamoto based on coincidences.
- Todd expresses concerns for his safety, as false accusations of having a large Bitcoin fortune could put him at risk of robbery or kidnapping.
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Tokenhell
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Peter Todd Denies Being Bitcoin Creator Amid Claims in New HBO Documentary
- Peter Todd, a Canadian Bitcoin Core developer, recently denied accusations that he is the elusive Satoshi Nakamoto, the creator of Bitcoin. Experts in the crypto community have expressed skepticism about the claims made in the Money Electric: The Bitcoin Mystery documentary, citing the lack of involvement by Todd in Bitcoin's early development. Critics highlight Satoshi's unique coding style and ideological differences as further evidence against Todd being Bitcoin's creator. While Todd shares some of Nakamoto's philosophical ideas about decentralized currency, his focus has been more on improving how to make Bitcoin more secure and scalable. Despite Hoback's documentary claims, many within the Bitcoin community remain unconvinced, viewing Todd as an important contributor to Bitcoin, but not its creator.
- Satoshi Nakamoto's coding style has been described by many as unconventional. Bitcoin Core developer Amir Taaki noted that Satoshi's programming was highly idiosyncratic, differing from typical practices of the time. According to Taaki, Satoshi's non-conventional use of outdated methods suggested he had a background in engineering or physics, rather than software development. Comparing this to Todd's profile, many believe that Todd does not fit the profile.
- One major reason many experts reject the idea of Peter Todd being Satoshi is his lack of involvement in Bitcoin's early development. Todd began contributing to the Bitcoin project around 2014, years after the cryptocurrency had already gained traction. Satoshi Nakamoto, on the other hand, developed the foundational code and mined the first Bitcoin block in 2009.
- In response to the Money Electric documentary, Todd has consistently denied that he is Satoshi and has humorously dismissed the claims. Todd emphasized that people trying to uncover Satoshi’s identity were getting distracted by “nonsense.”
- Though Peter Todd shares some of Nakamoto’s philosophical ideas about decentralized currency, his focus has been on improving the security and scalability of Bitcoin rather than revolutionizing global finance. Todd’s work is largely technical and solution-oriented, while Nakamoto’s original vision for Bitcoin carried strong libertarian ideals about creating a stateless currency.
- Despite Hoback's documentary claims, many within the Bitcoin community remain unconvinced, viewing Peter Todd as an important contributor to Bitcoin, but not its mysterious creator.
- Additionally, a 2014 study by the Aston University Centre for Forensic Linguistics named Nick Szabo, a well-known cryptographer and computer scientist, as a more likely candidate for being Satoshi Nakamoto.
- Samson Mow, CEO of JAN3, expressed doubts, saying, 'Peter Todd is not Satoshi despite what Cullen [Hoback] may believe. He isn't even a viable candidate because he's not that strong of a coder.'
- Peter Todd has made important contributions to Bitcoin, but his approach is more in line with traditional regulatory systems, leading many to doubt his alignment with Satoshi's original vision.
- Satoshi Nakamoto's original vision for Bitcoin carried strong libertarian ideals about creating a stateless currency and had a strong stance against centralized institutions, as seen in the message Nakamoto embedded in the first mined Bitcoin block: “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks.”
- Many analysts believe that Satoshi Nakamoto, who disappeared from public view in 2011, would be unlikely to engage in such public discussions or participate in a documentary, which is in stark contrast to Peter Todd's lighthearted approach to dismiss the claims.
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Cryptopotato
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Bitcoin Price Analysis: BTC Falls Below $61,000, Here’s the Next Target
- Bitcoin price falls below $61,000, indicating bearish sentiment gaining strength.
- Failure to hold $60K support may lead to a mid-term decline towards $52K-$55K range.
- Bitcoin's rejection at $66K resistance zone suggests it remains a formidable barrier.
- Negative values in the Bitcoin Coinbase Premium Index indicate bearish sentiment in the market.
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Cryptonewsz
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$120K Bitcoin Rally? Crypto Rover’s Chart Breaks It Down
- Crypto influencer Crypto Rover predicts a surge for Bitcoin, with a peak at $120,000.
- Based on technical analysis, Bitcoin shows signs of recovery and an upward trajectory.
- Crypto Rover's chart focuses on Bitcoin's historical bounce off the DEMA support level.
- Other analysts and institutions also predict a $120,000 rally for Bitcoin.
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Cryptonewsz
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Bitcoin Staking Revolution: Solv Protocol Leads the Charge with $470M TVL
- Bitcoin staking protocol Solv Protocol has amassed $470 million in TVL on Bitcoin mainnet, surpassing Lightning Network's $310 million.
- Solv Protocol released their Staking Abstraction Layer (SAL) technology, aiming to simplify and standardize Bitcoin staking across various blockchain networks.
- SAL addresses key challenges in integrating Bitcoin into the DeFi ecosystem, enhancing Bitcoin's utility in various applications.
- The TVL milestone coincides with Bitcoin's price hovering around $61,000.
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Altcoinbuzz
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How to Know When to Sell in a Bull Run
- To know when to sell in a bull run, it is important to have a solid plan in place before the bull run starts.
- Monitor market sentiment for signs that a top may be nearing, such as everyone talking about crypto and projects being hyped up.
- Use technical analysis and indicators like the 200 EMA, RSI, and candle patterns to spot trends and possible market tops.
- Stay grounded and avoid comparing yourself to others. Control your emotions and stick to your selling plan.
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Bitcoinist
1M
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Ethiopia Signs On: 600MW Of Energy To Supercharge Bitcoin Mining
- Ethiopia is emerging as a Bitcoin mining destination with 600MW of power currently being consumed by local miners.
- The government has taken steps to support Bitcoin mining, including investing in digital infrastructure and creating a regulatory framework.
- The country offers low electricity prices, favorable climatic conditions, and access to inexpensive hardware.
- Bitcoin mining has the potential to contribute $2 billion to $4 billion to the Ethiopian economy, but challenges remain in balancing the needs of miners and civilians.
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