The co-founder of BitMEX, Arthur Hayes, recently shared a pessimistic prediction for the immediate future of the Bitcoin price. He hinted at a potential drop below $50,000, indicating that he had taken a short position in the market. This forecast has raised concerns among investors and traders, as Hayes is known for his accurate market
Market
One of the major narratives that have been dominating the crypto market in 2021 is the influence of crypto whales – large holders of bitcoin and other popular cryptocurrencies. These whales have the power to significantly impact prices and market sentiment. The fear of market manipulation by whales has been a cause of concern for
The recent developments surrounding the hacker responsible for the $235 million theft from the Indian crypto exchange WazirX have raised concerns within the cryptocurrency community. The hacker’s use of sanctioned Tornado Cash to launder around $10 million in Ethereum in the past 24 hours has shed light on the complexity of their operations. By moving
Samuel Edyme, known by his nickname HIM-buktu, is a web3 content writer, journalist, and aspiring trader. His journey into the world of cryptocurrency was not your typical success story, but rather a tale of resilience and determination. Starting off with a scam that roped him in, Edyme did not let this setback define him. Instead,
The summer of 2024 has not been particularly kind to Bitcoin, with the price of the cryptocurrency experiencing significant weakness since June. Flash crashes have become a common occurrence, causing the price of Bitcoin to plummet from over $70,000 to below $50,000 at one point. Crypto analyst Crypto Jelle has drawn parallels between the summer
Samuel Edyme, also known as HIM-buktu, is not your average web3 content writer. His path into the world of cryptocurrency was not paved with success stories, but rather with a painful lesson from a Ponzi scheme. Despite falling victim to a scam early on, Edyme did not give up. Instead, he used this setback as
Cardano recently underwent the highly anticipated Chang upgrade on its Layer-1 blockchain. This update brought significant changes to the platform, including on-chain voting, Delegate Representatives, improved smart contract capabilities, and a new governance structure with cost model enhancements. Despite these advancements, Cardano (ADA) has seen a decrease in price, triggering concerns among investors. At the
Bitcoin, the leading cryptocurrency, experienced a significant drop in value from $59,076 to $57,127 during the early Asian trading session, highlighting its vulnerability to external factors. One of the looming threats is the US recession, which has instilled palpable tension in financial markets. This is particularly crucial for Bitcoin, as it has yet to undergo
Arthur Hayes, the co-founder and former CEO of BitMEX, recently shared his bearish outlook on the crypto market in his latest article titled ‘Boom Times… Delayed.’ He predicted a potential decline in Bitcoin’s price to under $50,000, attributing this downtrend to broader macroeconomic factors and market dynamics. Hayes pointed out that the actions of the
The Ethereum market is experiencing a shift in dynamics, with rising exchange reserves indicating a potential new distribution phase. The CryptoQuant’s Ethereum Exchange Reserve metric has been on the rise, tracking the amount of ETH held in exchange wallets. This uptick in the metric suggests that traders are transferring their ETH to exchanges in preparation