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Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
First Mover Americas: Bitcoin Slumps Below $54K as Mt. Gox Flags Repayments
The latest price moves in crypto markets in context for July 5, 2024.
Bitcoin Traders Target $50K as Billions in BTC Selling Pressure Looms
“The German government still has over $2.3 billion worth of bitcoin, Mt. Gox has more than $8 billion, and the US government has over $12 billion,” one trader pointed out.
U.S. Crypto Stocks Sink in Pre-Market Trading as BTC Slumps
Bitcoin traded around $54,400 in Europe, a 24-hour drop of 5.8%, having earlier fallen to the lowest level since late February
Mt. Gox Begins Repayments in Bitcoin and Bitcoin Cash
The defunct crypto exchange announced last month that it will begin repayments in July.
As Bitcoin Bellyflops to $54K Only Five Mining Rigs Remain Profitable, Says F2Pool
Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.
Crypto Bulls Rack up $580M Liquidations as Bitcoin Drops 8%, Ether, Solana, Dogecoin Plunge
Traders previously warned of a bearish market reaction to Mt. Gox’s bitcoin repayments.
Bitcoin Slumps Below $54K as Mt. Gox Moves $2.6B in BTC
BTC slides to lowest since late February, breaching key price support.
Bitcoin Nosedives Under $58K Amid Mt. Gox, German Government Wallet Movements
A wallet belonging to a German official entity moved its largest stash of BTC to exchanges earlier today, while Mt. Gox wallets showed activity for the first time in a month.
Bitcoin Drops Below 200-Day Average, Brings Bull Market Trendline Into Focus
Markets that consistently trade below the 200-day moving average are said to be in a downtrend.
Mt. Gox Doomsday Scenario Involves Bitcoin Cash, Not Bitcoin: Analyst
Selling pressure from Bitcoin Cash (BCH) and lack of liquidity is the story to watch once Mt. Gox begins redemptions, writes Presto Research.
