Bitcoin

Analyst John Bollinger Foresees More Consolidation For Bitcoin

Published

4 days ago

June 29, 2024

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Bitcoin

crypto will get positive regulation ‘no matter who wins’ election

Published

3 hours ago

July 3, 2024

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Galaxy Digital founder and CEO Mike Novogratz told CNBC’s ‘Squawk Box’ on Tuesday that the US crypto sector is headed for positive regulations regardless of who wins the upcoming election.

Mike Novogratz, one of the biggest crypto bulls, shared his outlook during an interview that touched on the current US political scene, Biden’s disastrous debate and crypto. The billionaire asserted that despite the current status of crypto regulation in the US, he believes the next regime will take a positive stance and help the industry grow.

“I am not a single issue voter and I do fundamentally believe crypto should be a bipartisan and needs to be bipartisan. We cannot have one party that likes this and another party that doesn’t like it,” Novogratz said.

Crypto regulatory landscape “shifting”

According to Novogratz, crypto is already largely a bipartisan issue in the US, with only a small group of Democrats taking a negative stance against this burgeoning industry. While it’s been frustrating, in terms of lack of regulatory clarity or the negative impact of government crackdown on the industry, Novogratz believes it’s “all shifting.”

“I’ll tell you that most Democrats, outside of Elizabeth Warren and a small group of people, are pretty pro-innovation and pro-crypto… Listen, no matter who wins the next election, we are going to get positive crypto legislation. I know that” he added.

Novogratz says BTC is a core holding

Commenting on Bitcoin following the ETF-buoyed upside that pushed prices above $73k in March, Novogratz referred back to earlier comments he shared about BTC price post-ETF approval. In his opinion, the benchmark cryptocurrency was likely to stay in the $55k-$73k range until the market got a dose of new news.

“It takes a while for things to digest,” he noted, adding that Bitcoin’s surge to its all-time high this year was “a huge move up.”

Novogratz believes BTC as a core portfolio holding makes sense, especially as the US debt balloons amid the government’s “spending like drunken sailors.”

Bitcoin traded around $61,862 at the time of writing, about 9% down in the past 30 days. However, its up 44% year-to-date and 102% in the past year.

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Bitcoin

CleanSpark’s amped hashrate mined 445 Bitcoin in June

Published

7 hours ago

July 2, 2024

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CleanSpark capped a busy June with an uptick in mined Bitcoin and a 2x increase in hashrate compared to December.

According to a Tuesday press statement, CleanSpark mined 445 Bitcoin (BTC) in June after adding five new mining facilities in Georgia. The mining startup also surpassed its 20 EH/s operational hashrate target set for mid-year.

“We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee,” said CEO Zach Bradford.

CleanSpark’s mining numbers for last month indicate strength from the company after the Bitcoin halving event in April. A halving happens every four years and cuts mining rewards in half. The company mined 46 less BTC than last June, a modest difference considering Bitcoin’s code change.

Bradford added that the firm is “laser-focused” on increasing mining hashrate and generating more revenue following the halving. Meanwhile, other miners are facing difficulties and exploring business sales to maximize shareholder value.

CleanSpark’s post-halving performance has been the envy of the mining landscape as the startup has improved its hashrate and mined more BTC in recent months. Per crypto.news, Bradford’s firm also acquired GRIID facilities in a $155 million deal, and analysts at H.C. Wainright are bullish on the CLSK stock. CLSK is up 58% year-to-date and changed hands for $17.19 on the Nasdaq as of writing.

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Bitcoin

Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price

Published

13 hours ago

July 2, 2024

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On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoin’s price heading into the third quarter of the year.

Bitcoin Miners’ Selling Pressure Has Significantly Declined

Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May.

Secondly, the crypto analyst mentioned that the volume of the OTC Desk that miners use for selling has been consumed, suggesting that someone recently bought up all the available Bitcoin supply from these miners. The volume of the OTC Desk is said to have piled up until June 29th, as there was no willing buyer to purchase these crypto tokens.

Bitcoin miners greatly contributed to the price crashes the flagship crypto suffered in June. Data from the market intelligence platform IntoTheBlock showed that these miners sold 30,000 BTC ($2 billion) throughout the month. This put significant selling pressure on Bitcoin, which caused it to drop below $60,000 at some point.

As such, the decline in selling pressure presents a bullish development for Bitcoin and could continue the bull run for the flagship crypto. Crypto Dan noted that this development has created “sufficient conditions” to continue the upward rally for Bitcoin in this third quarter of the year.

Crypto analyst Willy Woo had also previously predicted that Bitcoin’s price would recover once miners capitulate. With that out of the way, Bitcoin could enjoy an upward trend this month and make massive moves to the upside.

BTC’s Uptrend Has Begun

Crypto analyst Rekt Capital noted in a recent X (formerly Twitter) post that Bitcoin’s uptrend has begun. He claimed that the macro higher low has been confirmed, and Bitcoin is now rallying to the upside. He added that the flagship crypto is developing a macro bull flag, providing a bullish outlook for the crypto token.

In another X post, the crypto analyst remarked that the goal for Bitcoin following its strong start to July is to build a “foundation from which it will be able to springboard to the Range High area at $71,500 over time.”

Crypto analyst Michaël van de Poppe also suggested that Bitcoin’s downtrend is over and a bullish reversal was underway as the flagship crypto makes significant moves to the upside. He also mentioned that he believes that Bitcoin has bottomed out and has found support at $60,000, meaning a decline below that price level anytime soon was unlikely.

At the time of writing, Bitcoin is trading at around $62,900, down in the last 24 hours, according to data from CoinMarketCap.