What if Bitcoin fails? - cyptoranking.com

2024-04-19

Popular crypto exchanges(2023 Update) 2024-04-19
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It has to get worse before it gets better Hamas launched its first deadly attack on Israel since 1948 on Saturday, killing more than 1,500 citizens and taking at least 100 hostage. Citizens have called on the government to launch a ground offensive, a move that could lead to instability in the Gaza strip, a Palestine region from which Hamas launched its attack. What if Bitcoin fails?Ripple has been engaged in a battle with the Securities and Exchange Commission, with the regulatory agency suing the company. A trial is slated for next year. Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets.BTC/USD 1-hour chart. Source: TradingViewAnalysis: Jobs data “not what Fed wanted to see”Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in a single hourly candle.A subsequent rebound saw bulls recover those losses, with $27,700 — the area of interest from before the data release — now back in focus.The volatility came thanks to U.S. non-farm payrolls (NFP) jumping to almost double the number expected for September — 336,000 versus 170,000.Demonstrating the labor market’s ongoing resilience to the Federal Reserve’s counterinflation measures in the form of interest rate hikes, the implications of the September result were nonetheless viewed as bad for risk assets — including crypto. “Good news is bad news since the FED wants the labor market to lose strength,” popular trader CrypNuevo wrote in part of a response on X (formerly Twitter).“Given this increase, it surprises me that the unemployment rate stayed the same (3.8%). So I believe that the data will be revised down and it’ll be much lower.” Like others, CrypNuevo nonetheless eyed the increasing likelihood of another rate hike from the Fed at the November meeting of the Federal Open Market Committee.“The market understands this data as a new threat for a potential new 25bsp hike in November 1st (25% probabilities given yesterday vs 31.3% probabilities today),” he continued, referencing data from CME Group’s FedWatch Tool.“We have CPI on Thursday next week and that’ll hopefully give us a clearer view.” Fed target rate probabilities chart. Source: CME GroupCPI, or the Consumer Price Index, forms one of the key inflation indicators for Fed policy.Continuing, financial commentary resource The Kobeissi Letter suggested that pressure was now on both markets and the Fed itself.“Furthermore, the Fed pause was previously expected until June 2024, now a pause is expected until July 2024,” it reported on market projections for rate tweaks. “Market futures just fell 400+ points after the report. This is NOT what the Fed wanted to see.”Bitcoin open interest drainsLooking at Bitcoin’s specific reaction, popular trader Skew showed spot and derivatives traders exiting on the NFP print.Related: Bitcoin still beating US dollar versus ‘eggflation’ — Fed dataSpot sold & perps puked after the jump in NFP shorts chasing a bit more hereLikely PvP for rest of the morning https://t.co/7faaQLfur5— Skew Δ (@52kskew) October 6, 2023

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Read more: How to Buy Bitcoin (BTC) in Four Easy Steps – A Beginner’s Guide Undoubtedly, VCs have also been ditching crypto investment due to the AI hype. For example, SoftBank, the Japanese investment giant, has been aggressively investing in AI startups, diverting away from crypto investments. Trust wallet trade BNB for ETH|Can I convert BNB to ETH?Five days into voting, Lido’s grant proposal faces an uphill battle, with just 50.2% of votes cast in its favor and 41 proposals earning more yes votes — and therefore passing Lido in the funding tiebreaker. “No Bitcoin was sold during the month,” Hut 8 said, stressing that the company owns one of the largest self-mined BTC reserves among publicly traded firms. “Total balance of Bitcoin in reserve was 9,366 on September 30 — 7,269 of which were unencumbered,” the firm added.

General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.What Is DeFi? Let’s Understand Decentralized Finance Create: Unleash your creativity with Torque Drift 2’s enabling tools. Craft and shape your own unique content, using both the in-game tools and other available platforms. Palm oil prices jump nearly 6% on Indonesia's export banAsset-Backed Stablecoins That means investing $1 million or $2 million is simply not enough. They want adequate reward for the risk they’re taking, Carmi added.

However, a few days before this notable news event, daily XRP transactions had declined to a yearly low. On October 7, the XRP ledger network processed 71,820 transactions. December 2022 was the last time XRP transactional activity dropped that low, as depicted in the Santiment chart below. Proof of Play, an NFT gaming studio founded by the co-creators of FarmVille, completes a seed funding round with $33 million in investment. Why can't i cash out in Coinbase?To calculate your crypto trading earnings, you can go the easy way by doing some simple arithmetic. It is also in line with the Chainlink accumulation from long-term holders.

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