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Canaan to Execute Sale of 10,000 Bitcoin Mining Machines for Genesis Digital Assets

20 hours ago

Together Canaan and Genesis Digital Assets will strive to deliver and ascertain ease in crypto agreements and transactions.Canaan (NASDAQ: CAN) is one of the major computing solution organizations that deal in delivering high-performance digital communication systems. The company has recently announced that they have received an order to manufacture 10000 Bitcoin Mining Machines for Genesis Digital Assets, a leading organization dealing in Bitcoin mining and distribution. Canaan will process the sales order to manufacture 10000 Bitcoin Machines with specific range models known as A1246 and A1166 Pro. Canaan has also clarified that the order received from Genesis Digital will be delivered by the end of June 30th, 2021. Canaan and Genesis Digital Assets Enter in Strategic CommitmentThe

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Most Promising Projects to Be Listed on PancakeSwap Exchange Soon

20 hours ago

The emergence of new projects is usually preplanned with potential target markets in mind. While Africa is often seen as an untapped market, China is arguably the right region for massive scaling.The evolution of trading platforms has taken the digital currency ecosystem to a whole new level. This has stirred broad crypto-economics around the multitude of tokens out there. Today, innovations become enshrined as the new normal in the crypto ecosystem. Based on this, decentralized exchanges are beginning to rub shoulders with their centralized counterparts. This competition is most obvious for featuring projects with unique fundamentals.Amongst the decentralized exchanges around, PancakeSwap has made headlines in recent times for good reasons. The transaction volume has been above the

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How Mizar Wants to Make Algo Trading More Accessible and Stimulating

21 hours ago

Mizar’s utility token, MZR, will have distinct advantages for its holders and will act as the heart of the entire ecosystem.Mizar, a platform for building and sharing trading algorithms via a marketplace, wants to change the future of trading. The stock market and cryptosphere have seen huge upticks in numbers from retail investors in the last year. While more and more people are entering this market, Mizar recognizes that a large volume of trade is dictated by powerful algorithmic bots that work to benefit large traders like institutions more than everyday people.Making Bots and Algorithms Easy for EveryoneMizar intends to make it possible for traders of all levels to harness the power of algorithmic trading, just like the bigshots. Algo-strategies can help traders automatically invest in

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Bitcoin Mining Stocks Jump 49% in Less Than One Month after Poor Figures Recorded in May

21 hours ago

Bitcoin mining stocks have performed much better than Bitcoin has in the last one year. These stocks are rising despite China’s crackdown.The three largest Bitcoin mining stocks are rising, following crashes seen across these companies’ valuations last month. These stocks have pulled in considerable weight over the last month, regardless of souring Bitcoin mining sentiments palpable across different geographic regions.According to a recent report, the three companies include Riot Blockchain Inc (NASDAQ: RIOT), Canaan Inc (NASDAQ: CAN), and Marathon Patent Group (NASDAQ: MARA). Since May 21, Riot Blockchain has jumped 63% from $2.08 billion to $3.4 billion. Marathon also increased by 55% to its current $2.98 billion valuation. All three companies have increased an average of 49% in less

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Polkadot’s Kusama Confirms First Slot Auction, DOT Price Surges 15%

22 hours ago

The first slot auction for Kusama will continue for a period of five days thereby facilitating the addition of parachains to the Kusama Relay chain. On Tuesday, June 15, Polkadot’s Kusama council passed Motion 310 while confirming the first slot auction on the Kusama network. Polkadot governance platform Polkassembly shared details of the developments.Nearly 66% i.e. 13 out of 19 “seats” on the Kusama council voted to commence the slot auction process. Last week on June 8, Kusama and Polkadot co-founder Gavin Wood published a schedule for the Kusama slot auctions. These slot auctions will facilitate the addition of parachains to the Kusama Relay chain. As per the schedule shared by Wood, the first slot auction will continue for a period of five days. Of this, the first two days will

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TWTR Stock Down 1%, Twitter Slammed by Indian Tech Ministry for Failing to Comply with New Rules

22 hours ago

With the failure of Twitter to comply with the new rules, the Tech Ministry warned the firm earlier this month of “Unintended Consequences.”American microblogging and social networking service company Twitter Inc (NYSE: TWTR) is under fire from the Indian Technology Ministry for failing to comply with the Asian giant’s latest IT rules. Per a Reuters report, India’s technology minister said on Tuesday that Twitter had deliberately defied and failed to comply with the country’s new IT rules, which became effective in late May.Twitter shares are currently down by 0.55% in today’s pre-market after a previous close of 0.99% to $60.23. The details of the new rules affect all social media platforms operating in the country, including Twitter, and the outfits of Facebook Inc (NASDAQ: FB)

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Petco (WOOF) Stock Latest 17.9% Rally Spikes Hope for Big Short Squeeze

22 hours ago

The WOOF stock surge might also have been attributed to the announcement that Petco would virtually present at the Evercore ISI Consumer & Retail Summit.Petco Health and Wellness Co Inc (NASDAQ: WOOF) stock closed at $25.41 (-9.41%) on June 16, at 4.20 a.m. EDT and was trading at $25.22, with a 0.75% fall in the pre-market session.This comes just a day after $WOOF stock rose 17.9% as it was one of the trending stocks among Reddit’s retailers. The company saw about 43 million shares exchange hands Monday, marking the second-highest Daily Trading Volumes for the stock since its January IPO. The surge might also have been attributed to the announcement that the company would virtually present at the Evercore ISI Consumer & Retail Summit.WOOF has also been a trending ticker due to the

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Fox to Invest $100M in NFT Content with Its Blockchain Creative Labs

23 hours ago

With a collaboration with Bento Box, animated series like Simpsons and Bob’s Burger might get their own NFTs.American television production giant Fox Entertainment launched a $100M creative fund for the NFT content market through its recently founded business subdivision Blockchain Creative Labs. The LA-based unit is said to pilot under the banner of Fox Entertainment, captained by Scott Greenberg, known for his involvement in the production of Simpsons.As cryptocurrency is finding ways to expand and reach out to the public, the NFT content markets have sprung out to be a boon for content creators. With an NFT, one can represent ownership of unique items. Since a particular item or idea can have only one owner, no one can alter the evidence of ownership or copy a new NFT in reality.

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El Salvador Undecided if Bitcoin Can Be Used to Pay Salaries

23 hours ago

Per the laws of El Salvador, salaries, fees, taxes and other payments can be made only via the recognized legal payment methods. Before Bitcoin was adopted, El Salvador had colónes or US dollars as its legal tenders.While crypto enthusiasts are still savoring the victory of having Bitcoin adopted as a legal tender in El Salvador, the Central American’s country Minister of Labor and Social Welfare, Rolando Castro, has on Wednesday cleared a misconception surrounding the country’s readiness to adopt the digital asset for wages payments.According to Castro, it was “too premature to talk about wages,” in response to a local report that had said that “his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of

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PUBG Maker Krafton Aims to Raise $5B in South Korea’s Biggest IPO

23 hours ago

With the upcoming listing, Krafton seeks to break the biggest debut record in South Korea, which is currently held by Coupang.Krafton Inc is closely associated with PlayersUnknown Battlegrounds. Yes, it’s the company credited for the hit mobile phone game. This time, Krafton intends to raise 5.6 trillion won, equivalent to $5 billion, via a South Korean IPO which is believed to be the largest in the country ever.To achieve this IPO milestone, Krafton needs to sell over ten million shares worth 458K to 557K apiece, the company revealed on Wednesday. This deal is much more than what was expected, and it would eventually give the company a market capitalization of around 28T won. The market capitalization will of course be based on the total of common shares. Pricing is expected to end on

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Billionaires Go Bullish: Tim Draper Says Bitcoin to Hit $250K in 2022

2 days ago

Bitcoin price remains volatile with the swing in any direction possible but Draper is confident the overall trend will be bullish in the foreseeable future.Two billionaires with a vested interest in cryptocurrency and decentralized finance have expressed optimism about bullish trends continuing in the future. Tim Draper, a venture capitalist with a substantial but undisclosed amount of Bitcoin, has chosen to stay by his predictions that BTC will reach a price of $250,000 at the end of 2022. He maintains this stand despite the volatility of the market in recent months and the contention about the coin’s huge energy usage.Draper bases his predictions on three facts. Primarily, he is encouraged because more retailers will embrace Opennode as a means of payment in the coming years. Currently,

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Bitwise Secures $70 Million in New Funding Round Co-Led by Elad Gil

2 days ago

With the funding, Bitwise is looking to expand its offerings to more banks and asset management firms.Bitwise, one of the world’s largest cryptocurrency index funds has completed a new Series B funding round, netting a total of $70 million from both old and new investors. According to a report by The Block, the Bitwise funding round was co-led by cryptocurrency investment firm Electric Capital and Elad Gil with the company’s valuation now placed around half a billion dollars.Other institutional investors that participated in the funding round include Daniel Loeb’s Third Point, Robert Leshner, founder of Compound, Henry Kravis, Stanley Druckenmiller, and Bridgewater’s Chief Executive Officer David McCormick. Bitwise, now 4 years since it was floated notably turned profitable this year after

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Amazon Unveils Luna Cloud Gaming Service, Analysts Project 10% AMZN Stock Rise by September

2 days ago

Amazon streaming hours on Prime Video are up 70% year-over-year and therefore, Luna is expected to positively impact sales.Amazon.com Inc (NASDAQ: AMZN) will make Luna, its game streaming service, available to its Amazon Prime subscribers on Amazon Prime Day (June 21 and 22). This has opened up grounds for added sources of revenue and increased stock valuation for the company.Last September, 37 analysts offered a 12-month share price target of $3,732.29 on average, with forecasted lows and highs of $3,400 and $4,200 respectively. This represents a 10.51% increase from the stock price of $3,377.00 (-0.05%) in today’s pre-market session. As the trading opened today, AMZN is at around $3,371.26 (-0.27%). Notably, the company’s last quarterly earnings report showed a $108.52 billion revenue,

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Ramp Raises $10 Million to Expands Its ‘PayPal for Crypto’ Service

2 days ago

Ramp is building in the cryptocurrency ecosystem, which Paypal has been able to enshrine in the world of ecommerce.European-based digital currency payment provider, Ramp has raised the sum of €8.3 million ($10 million) from investors to expand its ‘Paypal for Crypto’ service offering. According to a report by EU-Startup, the new funding is targeted at pushing its services to a more global audience.The funding round was lead by NFX and Galaxy Digital Holdings Ltd (TSE: GLXY). Other investors that participated include but not limited to Seedcamp, firstminute capital, Fabric Ventures, as well as Mozilla, and other notable business angels associated with Coinbase (Balaji S. Srinivasan), Wise (Taavet Hinrikus), Dapper Labs (Roham Gharegozlou), and IKEA (Bartek Pucek). Ramp brandishes a

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Global Hedge Funds Expect to Push Over 7% of Their Portfolios into Crypto by 2026

2 days ago

Hedge funds are looking to play bigger in crypto as a survey reveals that their portfolios may increase to $312 billion by 2026.Hedge funds are looking to make big plays into the crypto sector as the sector continues to grow. According to a recent survey, these hedge funds will increase their exposure to cryptocurrencies by increasing  their crypto portfolios over the next five years.According to a recent survey of 100 hedge fund chief financial officers, the money managers intend to buy more crypto. The survey conducted by fund administrator Intertrust reveals that the CFOs hope to convert an average of 7.2% of their total assets to crypto by 2026. The survey has revealed that hedge funds are closely watching the crypto industry and are looking to scoop more assets. The sector has been

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Sygnum to Introduce DeFi Banking Services Including Those for Aave and Uniswap

2 days ago

Sygnum’s decision to embrace the DeFi token services has received a cordial response from the authorities and users.The Swiss bank Sygnum will be playing a crucial role in providing custody and trading services for DeFi tokens in a range of available crypto assets. Defi tokens can be defined as a sector of crypto that works and recreates the traditional finance transactions with minimum to no intermediary intervention. In an official announcement made by the bank, Sygnum will also be hosting a variety of banking services such as Aave (AAVE), Curve (CRV), Synthesis (SNX), Maker (MKX), Aragon (ANT), and 1inch (1INCH). Sygnum will also be providing custody for stablecoin USD coins for trading purposes. The bank also clarified that the DeFi services will be conducted in a phased manner and

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Custodian Brane Capital Announces Plans for Public Listing

2 days ago

Brane Capital has revealed its plan to go public via the TSX exchange by end of the year 2021.Brane Capital, a major cryptocurrency player, announced that their plans are underway for a public listing before 2021 ends. If the plans materialize, Brane’s Capital will be the first qualified Cryptocurrency and digital assets player from Canada. Once approved, the digital asset startup will provide financial services and solutions to Canadians and even institutions in a market mainly dominated by only one American company.Brane has shown its seriousness by signing a letter of intent. The show of commitment, letter of intent, indicates that the deal will involve Timeless Capital Corporation, which’s listed on the TSX exchange. In summary, there will be a reverse takeover resulting in Brane’s

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US-based Insurance Giants Invest in Crypto Market

2 days ago

Six giants of the insurance world tread into the growing market of cryptocurrency by acquiring profit from the stocks of Grayscale Investments, the daughter organization of Digital Currency Group.According to S&P Global Market Intelligence, six major insurance corporations procured shares of crypto investment goods floated by Grayscale Investments, the world’s largest digital currency asset manager. It is also a subsidiary of Digital Currency Group, the Bitcoin and blockchain industry giant.Unlike retail investors, the insurance companies did not indulge in the acquisition of Bitcoins precisely but extracted profit from the stocks of Grayscale Bitcoin Trust and Grayscale Ethereum Trust.  Abiding by the age-old rule of the stock market, the shareholders got their hands on the stocks in a

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Nasdaq Composite Hits New ATH as Investors Doubles Up on Tech Stocks

2 days ago

While anticipations are high, billionaire hedge fund manager Paul Tudor Jones warns that a wrong move or comment from the Fed Chairman Jerome Powell could spark a sell-off in risk assets. The broader United States stock market took off the week with impressive gains as the Nasdaq Composite (INDEXNASDAQ: .IXIC) attained a new all-time high (ATH). The tech-heavy benchmark closed Monday’s session with a growth of 12.54%, adding 1,579.08 points to close at its highest level of 14,174.14 in the past 6 months. The current performance surpasses the 14,095.47 marks set on Feb. 12, and the previous peak of 14,138.78 attained on the 26th of April.The ATH growth in the Nasdaq Composite had a rub off on the S&P 500 (INDEXSP: .INX) as the broader index surged 0.18% to 4,255.15. Of the major indices,

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JPMorgan Chase Hoards Cash Indefinitely Forecasting Higher Inflation and Interest Rates

2 days ago

The Federal Reserve’s 2% inflation target has already been outstripped in April mainly due to the effects of economy reopening, contained demand and supply restrictions.Long-term Inflation is here to stay if you agree with JPMorgan Chase CEO Jamie Dimon, who has revealed stockpiling cash to the tunes of $500 billion in order to take advantage of opportunities that will come with the rise in interest rates.At a virtual conference organized by multinational investment bank JPMorgan Chase, Chief Executive Officer, Jamie Dimon expressed his confidence about the Federal Reserve increasing interest rates on account of the pressure of inflation. According to him, inflation is here to stay and is not transitory as opposed to the statement given by FED officials calling the growing inflation

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Crypto Gambling Market Continues to Grow in 2021

3 days ago

With your wallets funded, you need to choose the right games which are typically the same as traditional casino games.Blockchain technology and digital currencies have come to stay and of the many use cases of crypto, its integration in the gambling market has continued to see impressive growths in 2021. Cryptocurrencies rank as one of the major tools that have helped the world maintain financial equality amidst the growing economic uncertainties fueled by the COVID-19 pandemic. While there is a steady integration of crypto in key industries, the online Casino world and other gambling sites have particularly designed a means to harness the full capabilities of these growing asset classes.Per the ratings on Kriptopolis, crypto gambling sites are proliferating at a fast pace, as many seek to

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Stripe Secures $1 Billion in New Funding as Investors Anticipate Public Debut

3 days ago

The latest funding rounds that Stripe has closed and the level of participation may suggest a more ambitious move for the payment processor.Stripe, a San Francisco-based Irish-American financial services and payment firm has secured as much as $1 billion in new funding, to solidify its position as the most valuable company in the United States. According to a report by the Wall Street Journal citing people familiar with the transactions, the company recently offered investors the opportunity to purchase significant stakes from early investors as well as its current and past employees.Per the report, bids from investors exceeded $4 billion, however, only $1 billion was filled. Amongst the investors who bet big on the company in this funding round including mutual funds firm, Capital Group

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Apple to Debut Faster Watch with Temperature and Glucose Testing Capabilities, AAPL Stock Slightly Up

3 days ago

Beyond the company’s move in seeking advancement in its smartwatch, it is also working assiduously to explore new areas, notably in the Apple car pursuits.American multinational technology company Apple Inc (NASDAQ: AAPL) is set to debut a faster model of Apple Watch as the tech giant seeks to beat competitors in terms of product performance. Per a Bloomberg report citing people close to the company’s plans, the proposed new Apple Watches will also brandish the abilities to check temperatures and user’s blood glucose levels.The Apple Watch was debuted in 2015 and has grown to become a vital part of the Cupertino-based company’s product suite. While the watches have seen bigger upgrades in times past, the currently scheduled boost will place it at the echelon of smartwatches with unique

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Tanzania to Improvise National Laws Asserting Crypto and Bitcoin Trading as New Digital Reforms

3 days ago

The Tanzanian President’s statements on adopting Bitcoin as the new digital currency seem to be influenced by the recent alterations administered by El Salvador where BTC has been declared as a legal tender.Tanzania appears to be the latest addition in the pool of countries inclined towards adopting Bitcoin and other digital assets in their economical structure. South African countries have been exploring the ideas of adopting Bitcoin and crypto trading as new financial trading mediums. Tanzania’s President has officially urged the central banks of the nation to entertain the idea of bitcoin mining as an upgrade in the existing finance sector of the country. Tanzania’s President Samia Suluhu Hassan in an interview held on June 14th has urged the central banks to explore the plausible

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Texas Governor & Department of Banking Put Their Vote of Confidence in Digital Currencies

3 days ago

The new Virtual Currency Bill passed by Texas and the state banking committee gives all banks the right to offer crypto custodial services to its clients. As cryptocurrencies continue gaining popularity among lawmakers, Texas doesn’t want to feel left behind. On Sunday, June 13, Texas Governor Greg Abbott signed a law that puts digital currencies under the Texas Uniform Commercial Code.I just signed a law that puts virtual currency under the Texas Uniform Commercial Code to be a secured transaction. It defines virtual currency, establishes when a person acquires a right in it, and when a person has control of it.— Greg Abbott (@GregAbbott_TX) June 13, 2021Soon after the Texas Deparnment of Banking also sent out an industry noice providing other state-chartered banks the authority to

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Chia Coin (XCH) Up 6.6%, Crypto Market Volatility and Regulation Requisite for Growth, Chia COO Says

3 days ago

Hoffman hopes that Chia going public and keeping XCH as a separate token will hedge investors from wild price swings.Chia (XCH) coin price at writing time was exchanging hands at around $406.74, up 6.6%. It has also had a 24-hour low of $380.93 and a high of $425.48. Gene Hoffman, COO, and President at Chia Network said that his network takes volatility and regulation very positively.He went on to liken the crypto market events to those of the late ’90s when there was high volatility in internet stocks as the internet became adopted. The period between 1998-2000 marked a great trading craze in internet-related companies. Traders’ favorite companies such as Amazon experienced swings of up to 60% either way before the 2000 dot-com bubble burst. Moreover, Hoffman said government regulation

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Staking vs Other Ways of Earning on Cryptocurrencies – What Makes Most Sense

3 days ago

There are several ways of earning money on cryptocurrencies in the digital assets market. Unfortunately, not all of them deserve attention.Amid the coronavirus crisis in 2020 and its consequences that continue its influence in 2021, many people consider additional sources of income. Among other things, the special attention was drawn to cryptocurrencies and opportunities to make profits on them.One of the most popular ways to make profits on digital assets happens to be staking. Let’s compare it with other ways to earn money on cryptocurrencies. Staking Cryptocurrencies – All You Need to KnowIn the crypto community, the term “staking” stands for the passive income that comes from holding crypto on the account or freezing it for the projects’ needs. Different platforms offer different

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Stock-to-Flow Useful for Predicting Crypto Value

3 days ago

Despite the apparent volatility of Bitcoin’s value, growing consumer acceptance and investor confidence in cryptocurrency are expected to eventually lead to more stability in its value.The stock-to-flow valuation model and its application to Bitcoin is perhaps not something familiar to the average investor but could have tremendous implications on forecasting the price of the leading cryptocurrency.The model, introduced in a 2019 paper titled “Modeling Bitcoin Value with Scarcity,” uses scarcity to quantify bitcoin’s value. Bitcoin, as an asset class, is unconventional. For more conventional asset classes, including real estate and stocks, there are tried-and-true ways of measuring their value, such as discounted cash flow analysis (DCF), Price to Earnings multiples, etc. “Because Bitcoin

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Bitcoin Mining Difficulty Suffers 5% Dip following Closure of Xinjiang’s Mining Operation

3 days ago

Yunnan now joins Inner Mongolia, Xinjiang, and Qinghai that have all issued notices to shut down part or all of the mines in their regions.Bitcoin mining difficulty dropped by 5.3% in the latter stages of June 13, days after the BTC network recorded a drop-off in hash rate. Bitcoin mining difficulty is a measure of how the network aims to keep blocks being produced at an even rate, despite the wild fluctuating hash rate. To house the varying hash rate, the Bitcoin mining difficulty makes the mining process easier or harder every 14 days. On-chain data revealed that the BTC network’s mining difficulty dropped to 19.8 trillion, a level not seen since early January, just 15 days after it dropped to 21.05 Trillion at block height 685,440, indicating a 16% drop compared to its recent all-time

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Elon Musk’s Announcement Sets Bitcoin (BTC) Price on Track to $85K

3 days ago

With recent consolidation and the fresh announcement from Elon Musk, Bitcoin on-chain indicator has turned bullish setting it up on a north trajectory to $85,000. The world’s largest cryptocurrency Bitcoin (BTC) is 12% up as of writing this article aiming at a move above $40,000. At press time, BTC is trading at a price of $39,535 with a market cap of $740 billion. This recent price rally in Bitcoin (BTC) comes as Tesla chief Elon Musk said that the company will resume Bitcoin transactions once again but with a condition.Musk’s comment came while responding to a tweet accusing him of BTC price manipulation. Sygnia CEO Magda Wierzycka accused Musk of playing around with Bitcoin price. Responding to it, Musk said: “This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could

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