Why Bitcoin’s Next Major Retracement Could Be Months Away





Bitcoin has been in a strong uptrend for around 2 months but has been stalling recently. The digital asset is currently ranging between $9,000 and $10,000 while its trading volume continues shaking every day.

Bitcoin is now in a daily equilibrium pattern but the range is still too wide for a breakout to occur. According to a recent report, Grayscale Trust Fund is currently buying more Bitcoin than is being mined since the 2020 halving.

Basically, Grayscale is buying up all the new Bitcoin supply and some more, according to the report provided by Kevin Rooke, Grayscale is buying BTC at a 1.5x rate of BTC mined. There is a clear growing interest in Bitcoin even though its price has been inert for quite some time.

It seems that institutional investors and trust funds are accumulating Bitcoin at an increasing rate. A bullish sign especially considering that the digital asset has shown signs of instability recently.

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Cardano’s Charles Hoskinson Announces The Dates For Shelley As ADA Price Surges 14%





Charles Hoskinson, the CEO of IOHK, the company behind Cardano (ADA) has revealed dates for the long-awaited Shelley. In the latest development update, Hoskinson shared 11 dates for the Shelley rollout plan.

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Bitcoin Will Peak Over $100,000 In Just Two Years, Kraken’s Jesse Powell Predicts




Jesse Powell, a highly regarded market guru and the CEO of Kraken cryptocurrency exchange said the price of bitcoin could surpass $100,000 as early as 2022. This would be an appreciation of over 1000% within a mere two years.

He added that the flagship cryptocurrency would even be worth $1 trillion if people across the globe knew it and the great potential it possesses.

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The world is staring at a financial evolution that should usher in a new age of government-backed financial systems built on the backbone of new technologies. The advent of cryptocurrencies like Bitcoin is a clear indication of the evolving monetary situation.

While many governments have sat on the fence over the years especially in regard to the legality and the potency of digital currencies, a lot of high-placed people are now speaking out in support of the new system – although there have been issues concerning regulatory frameworks.

According to Christopher Giancarlo, the United States government should be in the process of designing a viable digital dollar. Giancarlo is the former chairman of the CFTC, something that accords his opinion some heavyweights. Giancarlo is the founder of a nonprofit named Digital Dollar Foundation. The nonprofit has partnered with Accenture, a consulting firm, to release a white paper that drives the argument in favor of the digital dollar.

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Tron’s Justin Sun Calls Craig Wright a Fraud After Being Termed a Scammer





A few days ago, the Tron CEO, a dynamic businessman and the most controversial founder of a blockchain project, Justin Sun was railed with all kinds of names by the crypto community for participating in dishonest schemes.

In a space of hours, Justin turned to call the self-acclaimed Satoshi Nakamoto, Craig Wright a fraud, cited as the case of the pot calling kettle black by many.

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Bitcoin Whales Prop Up Crypto Markets As Bulls Regain $9,000




According to reports from the santiment data aggregator, Bitcoin whales have been on a Bitcoin accumulation spree since the Bitcoin price flipped and took a downturn six days ago. The data aggregator platform found that top Bitcoin players with a large number of Bitcoin in their possession, popularly known as Bitcoin whales, have shown an increased interest in the cryptocurrency.

This demand has led to the accumulation of a towering 12,000 BTC when converted with the current exchange rate, this equals a staggering $109 million.

The “accumulation movement” reportedly began two weeks after the third and most recent Bitcoin split, the highly anticipated Bitcoin halving event led to the reduction of Bitcoin block rewards from 12.5 BTC to 6.25 BTC. Prior to the halving event, Bitcoin had been experiencing mild instabilities as it dangled between $8,000 and $9,000 since the beginning of May.

Still, the bulls managed to outweigh the bears long enough to push it to the $9,500 mark. In fact, on the 8th of May, Bitcoin almost broke resistance levels of $10,000 when the price hit $9,996.

However, the bears have since been shaken out and bulls have taken the upper hand and remained atop with an increased bullish pressure that has pushed Bitcoin back to previous support levels. At press time, BTC is trading at $9,143 with slight daily gains of 3.46%.

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Bitcoin Addresses Craig Wright Claims To Own Have Termed Him ‘A Liar And A Fraud’



While most of the crypto industry already dismisses Craig Wright as disingenuous, there is now more evidence to prove that the Bitcoin Satoshi Vision (BSV) forerunner is being deliberately fraudulent. A publication from wallets containing Bitcoin mined in its first few years has called Wright a liar.

According to a May 25 publication from 145 early addresses, Craig Wright is not in possession of the keys to the addresses he had earlier claimed to own. The publication listed the addresses including signatures signed with their corresponding private keys. According to the message:

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Trader explains where Bitcoin price will go after $9k drop, believes Altcoins are set to moon




Following the third Bitcoin halving, the cryptocurrency community is left with little clarity on what the near future holds for Bitcoin and cryptocurrency in general. Well, for those immersed in altcoins, the good news is alts are likely to pump in the coming weeks as Bitcoin’s dominance continues to reduce. This is according to an altcoin trader who says all it takes is a little steadiness to see this happen.

He adds that although Bitcoin is showing some resilience at the moment, it will “bleed out slowly” and is sure to slow down in order for alts to pick up. According to Coinmarketcap, Bitcoin dominance is currently at 65.5% but has not dropped below 60% since the year began.

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