NFT News by Thebittimes.Com

In a recent video released by Sputnik, Russian President Vladimir Putin criticized the United States for abandoning the gold standard. The criticism is based on the country leaving the U.S. dollar as a trust-based currency backed by nothing. According to the video translation shared by Jane Adams in a post on X, Putin stated: “The United States decided to step away from the gold equivalent. There is no other promise, no other collateral rather than trust towards the U.S. economy.” Picks for you Stock market indicator resembles the 2000 dot-com bubble pattern 52 mins ago Is Ethereum overvalued? Network value indicator's all-time high suggests it is 1 hour ago ...

Amid warnings of a major financial crash, famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his views on why the United States dollar, in particular, might suffer as a new currency threatens its global domination. Specifically, Kiyosaki was visiting South Africa, “watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto , possibly backed by gold,” as he told his followers in an X post published on May 12. Hyperinflation on horizon Indeed, according to the renowned finance educator, if the rumors are true, this would mean a loss of value to the US dollar and a hyperinflation in the US, and he recommended investing money in alternative assets instead, including gold, silver, and Bitcoin (BTC) to protect oneself against this crash: Picks for you Hacker returns $71 million worth of crypto to phishing victim 14 hours ago ...

When Mark Karpelès’ MtGox exchange went bankrupt in 2014, a decade-long saga began. Nowadays, it’s incredibly difficult to determine who owns MtGox bitcoin claims with many claimants having sold their claims to third-party speculators. In addition, customers have learned that Russian nationals Alexey Bilyuchenko, Aleksandr Verner, and their co-conspirators stole at least 647,000 bitcoin during MtGox’s lifetime — the vast majority of customers’ 850,000 bitcoin. Of those 647,000 bitcoin, 300,000 went to one exchange, BTC-e, whose operator was extradited to the US on money laundering charges. Despite those stolen bitcoin, as of September 2019, MtGox’s Japanese bankruptcy trustee disclosed holdings of 141,686 BTC plus 142,846 Bitcoin Cash (BCH). At today’s prices, its BTC and BCH is worth approximately $4.8 billion . The banktupcy trustee also held hundreds of millions of dollars worth of cash, which has slowly dwindled due to bankruptcy legal fees. As of September 2...

The US dollar index is encroaching on new year-to-date highs, but Bitcoin whale activity suggests this may be a dead cat bounce. As the summer season arrives, an unexpected heatwave is gripping financial markets This heat is coming in the form of the US Dollar (DXY) which has been on a remarkable uptrend since late April, reaching levels unseen since early March’s banking crisis when the dollar wrecking ball wreaked havoc on asset prices. This surge in the dollar has raised concerns among market participants due to its high inverse relationship with Bitcoin (BTC), a topic many macro and crypto analysts have discussed repeatedly in 2023. The implications of this inverse correlation means that when the dollar rises, BTC falls and vice versa. The chart below showing the year-to-date performances of DXY (blue line) and BTC (orange line) underscores this relationship a step further. Notice how, Bitcoin’s 2023’s performance has been propelled by a downward dollar. Not coincidentally, DXY re...

Bitcoin will make a decision sooner rather than later, according to cues from the Binance order book. Bitcoin (BTC) stayed tightly rangebound at the April 3 Wall Street open as analysts counted down to volatility. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView "Watch for rugs" on BTC Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $28,000 on Bitstamp. The weekend had finished on an erratic note as news of a Opec+ oil production cut sent crypto tumbling before a rebound during the Asia trading session. Amid a lack of clear direction, monitoring resource Material Indicators flagged significant liquidity on either side of spot price on the Binance order book. "We still don't have a confirmed breakout or breakdown, only rejected attempts which have kept price chopping in this range," part of fresh Twitter commentary added. "It's only a matter of time until one side breaks. Watch for rugs." BTC/U...

The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining. The news and events related to the banking crisis in the United States and Europe have led to a rotation of funds into investments considered less risky. According to the Financial Times, the U.S. money market funds in March witnessed an inflow of $286 billion.  Along with money market funds, a portion of the money may also have seeped into the crypto industry. The increased demand could be one of the reasons for Bitcoin’s (BTC) strong performance in March. The big question in crypto investors’ minds is whether the recovery will continue or if it is time to book profits in Bitcoin. Daily cryptocurrency market performance. Source: Coin360 Bitcoin hodlers seem to be confident in the long-term story and are not getting lured into selling their holdings after the recent rally. According to Glassnode data, the percent of Bitcoin supply that has remained do...

Bitcoin decoupled with the stock market and saw its correlation with gold rise to a level not seen since last year. Source: https://thebittimes.com/bitcoin-and-gold-face-headwinds-amid-strengthening-dollar-tbt25746.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Bitcoin News Post by: TheBitTimes.com