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๐Ÿš€๐Ÿš€Hey there, BTC enthusiasts!๐Ÿš€๐Ÿš€ Buckle up, because we've got a wild ride to report. Bitcoin, our beloved digital gold, has taken a bit of a tumble, dropping to just above $61K. ๐Ÿ˜ฑ That's a 30% decline from its peak 2.5 years ago when it was worth 37 ounces of gold. But don't let the perma-bears like Peter Schiff get you down. Remember, gold's price also dropped yesterday. ๐Ÿ“‰๐Ÿ“‰ The crypto market as a whole is feeling the burn, with altcoins experiencing massive price declines. In just over 24 hours, the cumulative market cap of all crypto assets has plummeted by more than $400 billion, down to $2.350 trillion. ๐Ÿ˜ฐ But what's causing this crypto chaos? Well, the US Fed's recent announcement that there are no plans to lower interest rates anytime soon certainly didn't help. ๐Ÿ˜“ And then there's the rising tension between Israel and Iran. Reports of Iran preparing a counter-strike against Israel and the seizure of an Israel-linked cargo ship have sent shockwaves through the market. ๐ŸŒ๐Ÿ’ฅ So, it's been a bumpy ride, but hey, that's the crypto world for you! Stay tuned for more updates and remember, in BTC we trust! ๐Ÿš€๐Ÿš€๐Ÿš€

๐Ÿš€๐Ÿš€Hey there, BTC enthusiasts!๐Ÿš€๐Ÿš€ Buckle up, because we've got a wild ride to report.

Bitcoin, our beloved digital gold, has taken a bit of a tumble, dropping to just above $61K. ๐Ÿ˜ฑ That's a 30% decline from its peak 2.5 years ago when it was worth 37 ounces of gold. But don't let the perma-bears like Peter Schiff get you down. Remember, gold's price also dropped yesterday. ๐Ÿ“‰๐Ÿ“‰

The crypto market as a whole is feeling the burn, with altcoins experiencing massive price declines. In just over 24 hours, the cumulative market cap of all crypto assets has plummeted by more than $400 billion, down to $2.350 trillion. ๐Ÿ˜ฐ

But what's causing this crypto chaos? Well, the US Fed's recent announcement that there are no plans to lower interest rates anytime soon certainly didn't help. ๐Ÿ˜“

And then there's the rising tension between Israel and Iran. Reports of Iran preparing a counter-strike against Israel and the seizure of an Israel-linked cargo ship have sent shockwaves through the market. ๐ŸŒ๐Ÿ’ฅ

So, it's been a bumpy ride, but hey, that's the crypto world for you! Stay tuned for more updates and remember, in BTC we trust! ๐Ÿš€๐Ÿš€๐Ÿš€

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๐Ÿ‘‰๐Ÿ‘‰๐Ÿ‘‰ Russian #CryptoMining Sector Could Grow โ€˜by 20-40%โ€™ in 2024 โ€“ Report Russian Crypto Mining Industry Set for Major Growth in 2024. The Russian crypto mining industry is projected to grow by "20% to 40%" in 2024, according to BitRiver, the nation's largest crypto mining firm. This growth is fueled by low electricity costs and minimal regulatory oversight. Key Growth Factors 1. Economic Advantages: Russia's low electricity costs and favorable climatic conditions, especially in Siberia, reduce operational expenses. 2. Regulatory Environment: Minimal regulation and the absence of strict controls provide a conducive environment for mining operations. Industry Highlights - #whale ๐Ÿณ๐Ÿณ๐Ÿณ Activity: The industrial crypto mining market doubled in 2023, with Russian miners extracting approximately 54,000 BTC last year. - #Bitcoin Dominance: Around 95% of Russian mining resources are dedicated to Bitcoin, though some efforts focus on #altcoins like Litecoin and Kaspa. Regulatory Landscape - Current Status: Crypto mining lacks formal legal status in Russia, with some legislative proposals suggesting restrictions or fines for home miners. - Existing Laws: The "On Digital Financial Assets" law recognizes cryptocurrency as property, though it's criticized for lacking depth. Outlook Experts are optimistic about the industry's future, citing economic benefits and a favorable regulatory environment. Russia's crypto mining sector is well-positioned for substantial growth in 2024, reinforcing its status as a key player in global crypto mining. Source - cryptonews.com #BinanceSquareTalks
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Shiba Inu pricing signals buy, 25% surge anticipated. Shiba Inu pricing broke a two-month consolidation, signaling a shift. Investors should anticipate SHIB to rise 25% to $0.0000315 resistance. A daily candlestick closing below $0.0000210 will invalidate the bullish premise. Shiba Inu (SHIB) price has swung bullish with the crypto market and broken significant barriers, suggesting a rise. Before the meme currency soars, investors may buy SHIB. Lower lows and lower highs have followed the Shiba Inu price's March 5 local peak of $0.0000457. A trend line linking these swing points reveals a decreasing trend line that was broken on May 20. Buyer pressure increased with this daily candlestick closure above the descending trend line and horizontal support level of $0.0000253. SHIB should create a base above $0.0000253 and launch a 25% rebound rally to $0.0000315 resistance. The dog-based meme currency may retest $0.0000355, the middle of the $0.0000253 to $0.0000457 range, in a bullish scenario. Bullish momentum is shown by the Relative Strength Index (RSI) flipping the 50 mean level into a support floor. The Awesome Oscillator (AO) also rebounded above zero mean. With bullish momentum rising and SHIB passing technical levels, a breakout rally is imminent. The last two months' consolidation was an excellent accumulation zone, according to Santiment's Whale Transaction Count indicator. After a fall or consolidation, this on-chain statistic may indicate investor accumulation. Instead, if this index surges following a gain, these investors may sell. The Whale Transaction Count indicator spiked amid falls from April 12 to May 21, indicating institutional investor accumulation. This supports the technical bullish argument. Shiba Inu pricing is positive, but investors should beware about a crypto market drop. If SHIB has a daily candlestick close below $0.0000210 due to selling pressure, it would undermine the bullish argument. SHIB might fall 20% to $0.0000168, the next critical support level. #SHIB $SHIB #buythedip #altcoins
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