Blockchain.com’s Head Of Research Breaks Down State Of The Crypto Market And What’s Coming For Bitcoin

Blockchain.com’s Head Of Research Breaks Down State Of The Crypto Market And What’s Coming For Bitcoin
ôîòî ïîêàçàíî ñ : zycrypto.com

2021-6-13 16:23

The month of May was not a great one for the world’s biggest cryptocurrency and June hasn’t shown significant signs of improvement, not to the casual observer at least. Bitcoin had reached highs of over $60,000 but experienced a 40% drop after Elon Musk announced his car-manufacturing company, Tesla, was suspending Bitcoin payments despite having appeared to be advocates and buying $1.5 billion worth of BTC.

BTCUSD Chart By TradingView

Musk also implied the company would be selling its holdings but later indicated that would not be the case. The billionaire has since come under fire for what folks perceive is market manipulation and he has even received threats from the hacker group known as Anonymous.

Musk pointed to Bitcoin mining’s high energy usage but steps are being taken to make it so that mining becomes a much cleaner process in the future. 

Ultra-Bullish On BTC

Meanwhile, Blockchain.com’s head of research Dr. Garrick Hileman has encouraged investors to remain bullish amid the fears of a further crash in a recent Medium column.

“And for anyone who missed bitcoin’s runup to $64k we believe now is an attractive entry point to own your first (or more) crypto,” the piece reads. 

Hileman’s research points out that crypto, in general, has already started its recovery following El Salvador’s adopting of Bitcoin as legal tender, although the International Monetary Fund has warned there could be costly repercussions.

MicroStrategy’s move to buy even more BTC is also considered to be one of the factors present crypto building towards a recovery. The company’s founder, Michael Saylor, was the one who brought Musk and a group of American miners together to discuss renewable energy mining last month.

And What Of China?

China’s changing stance on Bitcoin is also causing worry but Hileman reckons the country is wasting its early lead in blockchain technology. He admits that, while China cannot bury Bitcoin, crypto will be worse off if the government finds success in suppressing it.

The Chinese government seemed to be in perfect stride with Musk when the country’s Premier announced plans to “crackdown” on Bitcoin mining. China is, of course, the world’s biggest mining hub, and such pressure could significantly affect the coin’s price.

China’s attack on Bitcoin is hardly novel, though. The country has been taking negative stances on the digital asset for nearly a decade now yet that did nothing to prevent it from reaching the heights it did in 2021.

origin »

Bitcoin (BTC) íà Currencies.ru

$ 93955.58 (+0.45%)
Îáúåì 24H $57.562b
Èçìåíåèÿ 24h: 0.66 %, 7d: -0.02 %
Cåãîäíÿ L: $91951.2 - H: $94247.58
Êàïèòàëèçàöèÿ $1860.667b Rank 1
Öåíà â ÷àñ íîâîñòè $ 37232.06 (152.35%)

bitcoin experienced drop had least reached highs

Èñòî÷íèê: zycrypto.com

bitcoin experienced → Ðåçóëüòàòîâ: 126


Ôîòî:

Overstock Moves up by 26 Percent after CEO Revealed the Company Will Focus Solely on Crypto From February

Overstock.com Inc. experienced a huge surge in interest from investors as the price of their shares went up by 26 percent in anticipation of their next big move. The Wall Street Journal recently reported that Overstock CEO Patrick Byrne is planning to sell the retail wing of the company to focus exclusively on its cryptocurrency businesses […] Overstock Moves up by 26 Percent after CEO Revealed the Company Will Focus Solely on Crypto From February was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-26 20:59


DCG’s Grayscale Investments Records Losses Over $400 Million In Latest Crypto Asset Value Plunge

The digital asset management firm Grayscale Investments has registered more than $400 million dollars losses in asset value in the last weeks. This is related to the bear market that virtual currencies are experiencing and the hard drop experienced by Bitcoin and other cryptos on November 14 and 19. In a recent tweet uploaded by […]

2018-11-23 17:40


3 possible causes for the bitcoin dumpster fire

The huge drops we experienced in the last 2 weeks shed away more than $70 billion and Bitcoin plunged below the $5k, sinking to the record low for the year. These lightning bolts that hit the market last week and still hitting it this week stirred a wave of speculation within the crypto community about […] The post 3 possible causes for the bitcoin dumpster fire appeared first on CaptainAltcoin.

2018-11-21 18:18


Crypto market plummets right before Bakkt and ETFs? Is it just a coincidence?

The huge drops we experienced in the last 2 weeks shed away more than $30 billion and Bitcoin plunged below the $5k, sinking to the record low for the year. These two lightning bolts that hit the market last week and today (losses of more than $10 billion of value in less than 24hrs) stirred […] The post Crypto market plummets right before Bakkt and ETFs? Is it just a coincidence? appeared first on CaptainAltcoin.

2018-11-20 23:07


Crypto Market Crashes Again: Recap Of Bitcoin’s Week, What Happened And What To Do Now?

The crypto space has recently experienced another big market crash, and the situation has not improved for days, now. The industry is struggling to start a new period of recovery, traders are confused by these events and don't know what to do, while the cryptocurrencies themselves continue to lose value. Two major questions are being […]

2018-11-18 10:32


Ôîòî:

Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets.

2018-11-14 00:53


5 recent tactics criminals use to steal your Bitcoin (and other cryptocurrency)

While the cryptocurrency mania that drove Bitcoin’s price to $20,000 may have eased, the threat posed by the most experienced cybercriminals hasn’t disappeared. In fact, prominent information security firm Kaspersky Labs has detailed how some of the internet’s most well-known cyberthreats have evolved to better target cryptocurrency users and services.

2018-11-12 17:47


Ôîòî:

How the Truffle Suite Is Streamlining Ethereum Development

Initially launched in 2015, Truffle promises to solve a number of key problems experienced by Ethereum developers in the course of building decentralized applications using smart contracts. Functioning with support from development leader ConsenSys, Truffle potentially holds the key to making Ethereum development simple and accessible to a new wave of developers, in line with the goals of ConsenSys to.

2018-11-6 06:00


Ôîòî:

Cryptocurrency Markets Remain Unimpacted From Global Stock Market Sell Off

Digital assets deviated from established behavior patterns on Thursday as a global stock market selloff failed to create a significant impact on the crypto market. During Asian trade, Bitcoin, Ethereum and Ripple’s XRP remained slightly low-key but didn’t experience a catastrophic fall that they experienced during the previous stock declines.

2018-10-26 17:59


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Bitcoin Price Under Pressure: Could The Slide Continue?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.