Three reasons for the Bitcoin "halving dump" from $10,000 to $8,100...
One week in review:
May 4–10 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Three reasons for the Bitcoin "halving dump" from $10,000 to $8,100 | | | There was hype as Bitcoin soared, with the world's biggest cryptocurrency testing $10,000. But over the weekend, a dramatic and sudden sell-off began — a sharp correction that caused BTC to slide all the way back to $8,100. Bitcoin plunged by 9% in a single hour as it failed to tackle the $10,200-to-$10,500 range, which has historically served as a strong level of resistance. | | | Some analysts had been arguing that a sell-off was inevitable because BTC was overbought, but even they were predicting that this would happen after the halving. | | #2. What the Bitcoin halving means for miners | | | It's worth taking a moment to reflect on the impact that the halving will have on miners. Data suggests that miners are hoarding BTC ahead of the halving, with ByteTree suggesting that higher prices are ahead of us. Many miners will see the expense associated with mining a single Bitcoin rise substantially, far beyond the average of $6,851 reported earlier this year. | | | Some estimates suggest that it could cost anywhere between $12,000 and $15,000 in the not-too-distant future, and this means prices would have to rise if miners have any hope of breaking even. | | #3. TON community launches free version of Telegram Open Network | | | Telegram suffered a massive slap to the face this week when an independent group of software developers, validators and users launched the "Free TON Blockchain." The rival platform comes as the messaging app continues to be embroiled in a long-running legal dispute with the U.S. Securities and Exchange Commission. This breakaway community says Telegram "can no longer be involved in the project." | | | The launch came after U.S. investors who invested in TON were told that they won't be eligible for a 110% refund of their money in April 2021 — and instead, they'll only get 72% of their capital back now. Telegram's founder, Pavel Durov, has reacted furiously to the legal battles brought by the SEC, describing the U.S. as a "police state" and discouraging entrepreneurs from moving their businesses to Silicon Valley. | | #4. Prediction of the Week "Perfect wedge" makes $1 million Bitcoin more likely than ever — Raoul Pal | | | The chances that Bitcoin will hit $40,000 and even $1 million have "risen dramatically" after it hit $10,000, according to Global Macro Investor CEO Raoul Pal. The sky-high figures fall in line with similar findings by PlanB, who has projected that BTC/USD could hit $288,000 between 2020 and 2024, with the potential to at least double that as a maximum. There have been plenty of other upbeat predictions this week. | | #5. FUD of the Week Ripple co-founder Jed McCaleb sold 54 million XRP in April | | | Analysis of Jeb McCaleb's wallets appears to show that the Ripple co-founder sold off at least 54 million in XRP over the course of April. According to The Crypto Associate, McCaleb is liquidating his supply of tokens on a regular basis — and on average, he flogged 1.8 million XRP every day in April. The proceeds from these sales would come to a grand total of $11.7 million. | | #6. FUD of the Week Crypto investor sues New York teen for $71.4 million in SIM-swap saga | | | A teenager is being sued for $71.4 million in damages for allegedly stealing $23.8 million in cryptocurrency from an investor in 2018. Ellis Pinsky was just 15 at the time of the alleged crime, and it's claimed he and his co-conspirators pulled off the theft by swapping Michael Terpin's SIM without his knowledge. Terpin says that he has managed to recover $2 million — but now Pinsky is 18, and he has filed a lawsuit to sue for the remaining funds, plus damages. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
| | | |
0 Comments
Postingan
