- BTC is facing a massive supply from Mt. Gox and German authorities, says Marathon CEO
The executive viewed Trump as pro-Bitcoin but advocated a bi-partisan approach to crypto issues.
As a crypto investor with some experience in the market, I’m keeping a close eye on developments that could impact Bitcoin (BTC) and the broader cryptocurrency landscape. The recent comments from Marathon Digital CEO Fred Thiel about former U.S. President Donald Trump’s stance on Bitcoin and the potential voting block of 55 million crypto enthusiasts are intriguing.
Former U.S., president Donald Trump continues to gain support from the crypto community. Inasmuch, Bitcoin [BTC] miner Marathon Digital CEO Fred Thiel has become the latest executive to back Trump.
In a recent interview with Yahoo Finance, Thiel said,
“Ex-president Trump advocates for a pro-Bitcoin stance, favoring the mining of this cryptocurrency within the United States. He has shown receptiveness towards Bitcoin miners and related industries.”
As a crypto investor, I’ve observed that the Biden administration seems to have taken a hostile stance towards Bitcoin through different regulatory bodies, notably the Securities and Exchange Commission (SEC).
55 million BTC voters at stake
Yet, Thiel noted that the Biden administration has softened its stance due to the recognition of a significant voting bloc being affected. The chief executive expressed this viewpoint.
As a seasoned analyst, I can sense a shift in stance from the Biden administration towards cryptocurrencies. It appears that they’re coming to terms with the significant voting block of approximately 55 million Americans who hold strong interests in this domain.
The executive further urged both sides to embrace issues related to Bitcoin and crypto.
As a crypto investor, I’ve noticed that some influential figures in the crypto space have voiced their support for Donald Trump recently. For instance, Cathie Wood, the CEO of Ark Invest, has publicly endorsed Trump due to his business-friendly stance.
“I am a voter when it comes to economics. And on that basis, Trump’
As a crypto investor, I’d say that when someone asks me about the recent price drop of Bitcoin below $60K, I’d respond by acknowledging that there are several factors influencing its current action. These elements could include market volatility, regulatory developments, macroeconomic trends, and investor sentiment, among others.
As a crypto investor, I take into account both the broader market trends and specific events that may impact Bitcoin (BTC). Macro expectations, such as economic indicators and geopolitical developments, can shape the overall sentiment towards BTC. Additionally, there are micro-level factors that can influence its price action. For instance, selling orders from German authorities or actions by BTC miners can cause short-term fluctuations. Furthermore, repayments from defunct exchanges like Mt. Gox can also affect the market dynamics. Therefore, it’s crucial for me to stay informed about these developments and adjust my investment strategy accordingly.
Currently, there is an abundant supply of assets in the market, resulting in approximately $1.2 billion worth of withdrawals from the ETFs (Exchange-Traded Funds).
The executive identified $57,000 as a significant level of support and indicated that prices above $68,000 and $69,000 would represent notable challenges for Bitcoin during intraday trading on Monday. Bitcoin dipped to $58,400 before regaining the $60,000 mark.
As a crypto investor, I’ve been keeping an eye on the news regarding potential repayments from Mt. Gox. However, according to QCP Capital’s analysis in the first person, I find it reassuring that they believe the upcoming developments could have less of an impact based on their examination of option market data.
As an analyst observing the July options market, I notice a low level of trading activity. This observation implies that the market does not currently expect significant price fluctuations surrounding the distribution in question.
The weekly charts showed increasing market liquidity around $64K, indicating a potential trend towards the orange cluster.
Read More
- SQR PREDICTION. SQR cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- DOP PREDICTION. DOP cryptocurrency
- SAGA PREDICTION. SAGA cryptocurrency
- BLOCX PREDICTION. BLOCX cryptocurrency
- XLM vs. XRP: Which One is Better, Stellar Lumens or Ripple?
- Top gainers and losers
- EUR BRL PREDICTION
- SEILOR PREDICTION. SEILOR cryptocurrency
2024-06-26 02:15