#Bitcoin is going up forever. pic.twitter.com/no4rsArrJ1
— Vivek⚡️ (@Vivek4real_) June 12, 2024
SM trending: Bitcoin going up forever
Crypto Quote: Buy Bitcoin today is like…
Buying #Bitcoin Today
— Vivek⚡️ (@Vivek4real_) June 13, 2024
Is like buying real estate in Manhattan in the 1800s. pic.twitter.com/kJCiQwWUTXIf you did this back then, and you stay long enough till this day, you’d reap fortunes.
The one big tweet that increased the worth of Bitcoin this week
And it came from Trump himself!
VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!… pic.twitter.com/cOXsGm4J3N
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) June 12, 2024As soon as Trump said the rest of the cryptocurrency should be mined in the United States, mining stocks rose on Wednesday.
Donald Trump ups the ante for Bitcoin owners
According to the news going round, Bitcoin (BTC) mining stocks soared double digits on Wednesday a day after United States presidential candidate Donald Trump promised to bolster mining operations in the country. I guess he needs their help in securing another term in the oval office. Trump also reportedly told the industry executives that he promised to support the sector should he be elected as president in November.
Trump said he wants “all the remaining Bitcoin to be MADE IN THE USA!!!” adding it would help the country be “ENERGY DOMINANT” in a June 12 post, which came shortly after a meeting he hosted with some of the industry’s top executives. Of course, having someone as big as Trump is a big plus for the Bitcoin community in the U.S.
Bitcoin mining stock traders seemingly liked Trump’s industry promises. And you can verify that in the rise of the crypto.
Changing Crypto Bill Could Be About To Quietly Blow Up The Price Of Bitcoin, Ethereum And XRP
Bitcoin Bitcoin -1.5% and other major cryptocurrencies including ethereum and XRP XRP 0.0% have rocketed higher since crashing to their 2022 lows (as president Joe Biden and former president Donald Trump are warned “there’s only one way to save the U.S. dollar”).
The bitcoin price has climbed back to its previous all-time high of around $70,000 per bitcoin—and could be poised to go “parabolic” after traders spotted a surprise price pattern—while ethereum, XRP and other cryptocurrencies are braced for a Wall Street earthquake of their own.
Now, as Trump and Biden hurtle toward a bitcoin showdown, a potentially game-changing bill with a surprise crypto provision has been passed by a Senate committee, which could be the most important U.S. crypto policy ever if it becomes law.
Bitcoin and crypto have become a major political issue ahead of the showdown this year in USA.
The U.S. Senate select committee on intelligence’s funding package was recently waved through with an almost unnoticed crypto provision that would force crypto companies to collect more information about users or face being caught up in sanctions designed to prevent terrorism financing.
Join Bitcoin BuildCon: Problems to Be Solved Next Week
Bitcoin BuildCon by Fibration Network is back with a new entry. This time, the event is focused on bringing together the fragmented Bitcoin community, connecting key BTC players in the US and Asia, and finding out what the industry needs today. Bitcoin BuildCon is a meeting point for the industry, where builders can get valuable insights from the leaders and, hopefully, set out to build their unicorns.
With this BuildCon, Fibration team is also bringing the Venture Capital perspective on the current state of building in BTC with inputs from OKX and Principle Ventures. The whole speaker list is packed full of esteemed experts from Unisat, BitcoinOS, AVM, Sovryn, and more.
Be part of the revolution at the Bitcoin BuildCon: Problems to Be Solved Online Conference hosted by @TheFibration on June 18th, 13:00 UTC/9 AM EST.
BTC price settles at $69K after dip wipes $1.3B Bitcoin open interest
Bitcoin, Ether stay lower after flash crash
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin
$69,309 price behavior stabilizing into the weekend.
The largest cryptocurrency had endured sudden volatility at the prior Wall Street open thanks to what was labeled “schizophrenic” United States employment data.
This was then compounded by a rout in altcoins, which came courtesy of market reactions to a livestream by pseudonymous investor Roaring Kitty.
BTC/USD saw local lows of $68,450 on Bitstamp, while largest altcoin Ether
$3,681 briefly fell below $3,600.
ETH/USD 12-hour chart. Source: TradingView Responding to the past 24 hours’ events, trading firm QCP Capital called the U.S. session “doubly strange.”
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“It was confusing enough to trigger a risk-off ahead of US inflation numbers and FOMC next Wed,” it wrote in part of its latest update to Telegram channel subscribers.
QCP referenced next week’s macro data prints, which include the Consumer Price Index (CPI) along with the Federal Reserve meeting to determine interest rate policy.
“Followed by a Roaring Kitty live stream which had almost a million viewers, during which GME stock price crashed,” it continued.
“It was probably not a coincidence that Alts and Memecoins started collapsing as well with over $40 billion wiped in market cap.”
The firm nonetheless saw local lows on BTC and ETH as “a good opportunity to buy the dip” based on future Fed moves potentially benefiting risk assets.
Key BTC price levels emerge
Eyeing key levels, the crypto market analysis looked to the monthly open around $67,500 as the level to hold as support should weakness continue.
Related: Bitcoin hash ribbons flash the first buy signal since $25K BTC price
“Lots of coins are at do or die levels IMO, these are the types of trades I like,” popular trader Crypto Chase wrote in part of one of his latest posts on X.
“If we lose all these levels, we lose the current HTF bullish bias to a degree IMO. BTC holding 64-65K would be the last hope before destruction.”
BTC/USDT chart. Source: Crypto Chase A potential silver lining came in the form of a leverage flush across Bitcoin and Ether.
“Bitcoin Lost approximately $1.3B in Open Interest on this flush. $ETH Also lost about $800M for a total of well over $2B for just BTC & ETH combined,” fellow trader Daan Crypto Trades noted.
BTC/USD chart with open interest data. Source: Daan Crypto Trades Previously, Cointelegraph reported on global liquidity trends already supporting a BTC price breakout to all-time highs.
Crypto Prices Tick Upward as Meme Coin Season arrives
Bitcoin kicked off the week by reclaiming $69,000 as crypto assets ticked up across the board during the European morning. BTC is priced around $69,200 at the time of writing, an increase of about 2.5% in the last 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index (CD20), rose 1.4%. Dogecoin led the gains, trading just under 3% higher, after influential retail investor Keith Gill disclosed a $180 million position in Gamestop, sending GME up around 80% in pre-market trading. Meme stock surges are often seen as a bullish indicator for meme coins such as DOGE. A Solana-based GME meme coin has rocketed over 200% in the last 24 hours, according to data from CoinMarketCap.
Bitcoin bosses to Launch Web3 Debit Card “V-Card”
Bitcoin.com is excited to announce the forthcoming launch of V-Card, which will enable anyone to spend their cryptocurrency, just like cash, anywhere Mastercard® is accepted. The waitlist is live now at verse.bitcoin.com/card where you can sign up for the chance to win a free V-Card.
V-Card: Transforming Crypto Spending
V-Card is a prepaid debit card that can be topped up with various cryptocurrencies, including BTC, BCH, ETH, USDC, USDT, and Bitcoin.com’s ecosystem token VERSE. With V-Card, users can enjoy the ease of spending their digital assets at the over 37 million merchants worldwide where Mastercard® is accepted. V-Card enables seamless crypto-to-fiat conversion for users within the Bitcoin.com Verse Ecosystem, offering enhanced financial freedom while maintaining high standards of security and convenience.
Key Features of V-Card
- Global Accessibility: Enables crypto spending at a vast network of merchants, including cash withdrawals from ATMs across the globe.
- Secure Transactions: Features robust security measures such as card freezing, spending limits, and instant transaction notifications.
- Exclusive Benefits for VERSE token holders: Look forward to special perks for VERSE token holders.
Join the V-Card Waitlist
The V-Card is set to launch soon, with limited availability. Interested users are encouraged to join the waitlist to secure their place and be among the first to receive the V-Card. Click here to sign up today.
Hackers unlock $3 million Bitcoin wallet after owner forgot his password for 11 years
A team of hackers have finally unlocked a $3 million Bitcoin wallet after a man forgot his password for 11 years.
I mean, forgetting your password is certainly a pain, but it’s usually not the end of the world.
But to forget your password for a whopping $3 million Bitcoin wallet? Well, that is pretty devastating.
Thankfully, however, security researchers have cracked a password to recover the massive amounts of money after it had been stuck in crypto wallet for 11 years.
You’d want to make sure you’d never forgotten the password to a $3 million wallet (Getty Stock Photo)
Electrical engineer Joe Grand, who goes by the handle ‘Kingpin’ online, was hired to hack into an encrypted file holding 43.6 BTC.
The high worth of cryptocurrency was protected by a password created by a random password generator called Roboform – but the password had since been lost.
The anonymous owner worried that someone would hack his computer and obtain his password – ultimately gaining access to his cryptocurrency.
“At [that] time, I was really paranoid with my security,” he said.
So, the owner asked Grand for his help, after he became known in the community in 2022 for helping another crypto owner recover access to over $2 million in cryptocurrency he thought he’d lost forever.
Grand says dozens of people have previously contacted him to ask for help with recovering lost treasure.