Bitcoin's price dropped sharply below $60,000, triggering a broad sell-off in crypto equities and liquidations exceeding $850 million. Despite the crash, Bitcoin advocate Samson Mow expressed confidence, highlighting Bitcoin's strong fundamentals and predicting inevitable 'hyperbitcoinization' due to ongoing fiat money printing. Mow also pointed to a large upcoming institutional buy order from Bitcoin Standard Treasury Company, suggesting the market is underestimating this demand. The downturn is partly linked to a major crash in South Korean equities, adding to the sector's pressure. The outlook remains uncertain as investors watch for signs of recovery.
Most major cryptocurrencies experienced price declines, including Bitcoin, Ethereum, and Binance Coin, which fell by less than 3%. However, some coins like Monero (XMR) and MNT showed significant gains, rising 10.89% and 7.90% respectively. The mixed...
Anthony Pompliano, a prominent Bitcoin advocate, remains strongly bullish on Bitcoin, emphasizing it as the leading cryptocurrency solving major financial issues like money transfer. He predicts Wall Street will invest heavily in altcoins he consider...
Bitcoin traded near $78,400 on August 31, marking a roughly 24% gain in August, its strongest monthly performance since 2017. This rally was supported by $1.92 billion inflows into U.S. spot Bitcoin ETFs and $6.55 billion in short liquidations across...
Over the weekend, the cryptocurrency market remained calm with minimal price changes in major assets like Bitcoin and Ethereum. Bitcoin held steady near $78,000, while Ethereum saw a slight decline. Monero stood out with a notable 9.9% gain, suggesti...
Bitcoin traded near $77,900 on Aug. 31, showing resilience despite renewed US-Iran conflict that pushed oil prices above $90 and pressured global stocks. BTC gained about 23% in August, outperforming gold and Nasdaq. The Federal Reserve's hawkish sta...
