#MtGox #BTC☀ #etherreum #binance

The cryptocurrency market's net capitalization dropped by approximately 3% to reach $2.465 trillion on May 28, 2024.

Leading these losses are top coins, Bitcoin (BTC) and Ether (ETH), which have dropped by circa 3% and 2.30%, respectively.

Mt. Gox's $9 billion BTC transfer raises dump fears.

The crypto market's decline today comes after a period of slowing inflows into the U.S.-based spot Bitcoin exchange-traded products (ETF).

From a technical perspective, the crypto market's decline today is part of a prevailing consolidation pattern.

( not a Financial advice. always DYOR )

#MtGox #BTC☀ #etherreum

What Was Mt. Gox?

Mt. Gox was a Tokyo-based cryptocurrency exchange that operated between 2010 and 2014.
It was responsible for more than 70% of Bitcoin transactions at its peak.

Mt. Gox Hack

Mt. Gox was hacked in 2014, and thousands of Bitcoins were stolen.
The company filed for bankruptcy shortly after the hack.

Rehabilitation Plan

In late 2021, creditors and the Tokyo District Court reached an agreement on the Mt. Gox rehabilitation plan.
-This plan establishes a registration and compensation plan based on phases for different creditors.

Current FUD in Crypto Market

The recent repayment of Mt. Gox creditors has led to concerns about the potential impact on the crypto market. Some experts believe that the repayment could lead to a sell-off of Bitcoins, potentially causing a decline in the market.

However, others argue that the repayment is a positive development for the market, as it shows that creditors are being compensated for their losses.

Current Market Situation

The crypto market is currently experiencing a decline in prices, with Bitcoin falling below $40,000.
The market is experiencing a period of high volatility, with prices fluctuating rapidly.
The current situation is being attributed to a combination of factors, including the Mt. Gox repayment, the ongoing COVID-19 pandemic, and geopolitical tensions.

(Not a Financial advice . always DYOR)

#BullorBear #BTC #bitcoin

President Biden has proposed a plan to increase the capital gains tax rate to 44.6% ¹. The plan aims to increase taxes for people earning more than $1 million a year ². The effects of the plan on the cryptocurrency market are expected to be temporary, and the plan may not pass in Congress ³. The effects of the plan on the cryptocurrency market are as follows ²:

- Cryptocurrency Ether pulled back sharply from a record high and rival Bitcoin also fell on Friday amid speculation that United States President Joe Biden’s plan to raise capital gains taxes will curb investment in digital assets.
- Ether plunged more than 10 percent to as low as $2,140, a day after climbing to a record $2,645.97. It last traded down 6.5 percent at $2,243.95.
- Bitcoin also weakened, falling 3.62 percent to $49,824.97, its seventh day of losses in the last eight.

Disclaimer
please don't consider this a financial advise. Always do your own research .

$PEPE $BTC $ETH
#Write2Earns
Last week, during the Halving duration, I saw a post in which a person claimed that they had lost $1 million in the #Pepe Coin Future Market.
When the market fell by 30%, their $1 million fund was liquidated.

The question is, why did they suffer such a loss?

The simple answer is that they made a mistake by entering the market at the wrong time. Despite having seven years of experience, his research on the market was zero at that time. he had traded with a $1 million leverage of three times, but when the market retreated, it fell by 30%.

If I were his friend and were with him at that time, I would have advised him to invest 30% of his trade with three times leverage and keep 70% of his funds aside, which would have perhaps saved them from total loss.

Summary

we should always trade with full attention and enter the market only after thorough research."

$BTC #bitcoinhalving #btccoin
After the BTC halving, exchange rates tend to drop.

Typically, when BTC supply becomes scarce in the market after halving, miners who held old BTC coins start sending them out to take advantage of the higher prices.

Additionally, whales sitting within the broader market also benefit from this situation and often begin withdrawing their funds during this time. As for how far the downtrend goes after BTC #halving , it usually extends beyond our initial expectations.

However, the average retracment for a downtrend cycle is around 19%.

Now, what should we do?

The best approach is to wait until the post-halving downtrend cycle concludes, and then the bullish cycle begins.

Looking at historical data, the bull cycle often arrives within three to six months after the halving. However, keep in mind that the current situation may differ, and this cycle could manifest sooner.

Based on my research, the ideal duration for this cycle to occur is within 20 to 90 days.” 🚀📉

Remember that cryptocurrency markets can be volatile, and various factors can influence price movements. It’s essential to stay informed and make informed decisions based on your risk tolerance and investment goals. 😊 #DYOR

$BTC $ETH $BNB #Write2Earns
The big game starts.

Number 1.
the drop of #BTC🌪️ is according to my monthly #analising is 16% which is normal.

Number 2.
the #bullrun may start with 20 days to 3 months.

Number 3.
The new #BTC high maybe between 120 k to 150k.

Number 3.
Before the top #BTC high we will see multiple highs like

75 k
78 k
80 k
88 k
90 k
95 k
99 k

and the historical hight of #BTC 100 k
and I believe this will be the major pull back to start another bull run to new 120k to 150k.

Please not that, this is not a Financial advice. Do your own research.

#bitcoinhalving $BTC you may worry. where is the high? where is bullish trend? and why is it not happing?
I think the reason is very simple.
#Grayscales is still selling a lot BTC
while #blackrock is buying only 1/3 of the supply.
what do you think ?
your answer will appreciate me.
BPJJK3RTG4
👆 a small redpack for you. please cash out