Crypto News Today || BITCOIN LIVE || Update

hello and welcome to crypto news before we upload these videos we hope that the markets won't go crazy in our absence there are several theories to what might happen in the market but the truth is no one really has much of an idea as to what will happen keeping on top of everything can be difficult but thankfully we are here to help you out many traders are not sure if they should be bearish or bullish or somewhere in between the price of bitcoin despite yesterday's rise is still a long way off this year's all-time highs and many believe that we might not see these prices for an undetermined period of time while other traders are still predicting that this will be the year bitcoin hits seven digits and beyond we actually believe these later price targets are still possible but acknowledge that this is a critical moment in the market cycle remember the crypto world can only be 24 hours away from changing radically and we have seen some bearish sentiment turn into unshakable momentum in a matter of weeks so we need to remember this before we ever start thinking that these price targets are simply too far off before this crash such a move was far from impossible and indeed looked like the most likely thing to happen without further ado let's take a look at some of the headlines that have been circulating in the last 24 hours the united states government task force seized control of over 2 million worth of bitcoin to pay a ransom off a hacker that targeted colonial pipeline system on june 7th the authorities recovered 63.7 bitcoin according to a warrant filed by the u.s district court in the northern districts of california this in truth represents a very small fraction of the actual worth of bitcoin but it is newsworthy that the us government took such measurements this has caused quite a stir and some media outlets are attempting to turn this into even more fud for the crypto markets the news of the recovery quickly spread into the mainstream media leading to many outlets speculating that the us government managed to hack bitcoin addresses in order to gain access to the funds a heated debate went on with many experts pondering if an entity can actually break bitcoin encryption and if that is the case why waste it on a wallet with only two million dollars more importantly how safe does this make our bitcoin assuming the government was willing to create short-term havoc in the crypto market they will need to make enough large sales that would negatively affect the prices leading to three signs that indicate the scenario unfolding the government would need to trade cme bitcoin futures in order to create an imbalance the government will need to trade at least fifty eight thousand dollars in the cme bitcoin future leading to a rapid increase in open interest which will evidently rattle the market the government can also distort the future premium of contract sellers since fixed calendar futures do not have a funding date therefore their prices will differ quite significantly from traditional spot exchanges an aggressive activity in future contracts is an early sign of government interference most crypto exchanges establish their servers in undisclosed locations yet the government could seize control over servers and web domains according to an article by cointelegraph the us department of justice has a framework that is enough for a crypto transaction to be carried out within the u.s computer systems and provoke enforcement action welcome to crypto news every day we upload videos with the intention of making your crypto investments as well informed as possible it is not always easy to follow all the news that happens in this industry but your best bet is here interactive brokers often seen as e-brokers are scheduled to start trading cryptocurrencies on their platform in the upcoming months sophisticated clients and other customers will be provided with crypto trading options by the end of the summer according to chairman and chief executive of interactive brokers thomas peterfie who made the announcements at piper snadler global exchange and fintech conference retail investors along with institutional investors have all poured into digital assets especially bitcoin at the start of 2021.

Bitcoin's prices have soared to above 64 000 in may of 2020 before crashing under 30 000 in june the price of bitcoin has been highly volatile as of late due to china's crackdown on cryptocurrency and frequent tweets from tesla ceo elon musk along with several other billionaire investors in regards to the excessive risks this should represent a great time to invest though since a large amount of money has already been wiped out of the market it is always best to invest during or after a storm as the potential for any asset let alone crypto to grow is enormous especially when you consider that most of the things that affected the price of crypto shouldn't affect the prices long term recently interactive brokers have announced trading bitcoin futures on its platforms after the price of cryptocurrency rose by six percent on wednesday bitcoin previously fell on tuesday which some speculate was due to security issues after officials recovered ransom payment from hackers that targeted colonial pipeline in the u.s some rival broker firms such as fidelity and charles schwab do not provide the option to trade crypto directly on their platform but rather they provide access to crypto related funds on the other hand robin hood the stock trading app offers crypto trading on its platform with interactive brokers now offering bitcoin trading the barrier for new investors to access digital assets has been further lowered to allow more entrants however virtual coins can pose safety risks to online brokers since the coins are unregulated thomas peterfey did not clarify how the company will provide security measures since virtual coins are untraceable but assured the press the company will tackle the issue by the end of the summer when trading has started jp morgan's crypto market analysts have pointed out the difference between bitcoin's spot prices and future prices as a potential sign for a bearish market to be in play according to a note for clients expert analysts at jp morgan following global market strategist nicholas panergitzerlu wrote that the bitcoin market is heading back to a point when the future prices are lower than the spot prices the analysts argued that crypto market corrections in the previous month had foreseen the futures of btc reverting into backwardation a phenomenon seen for the first time since 2018.

Bitcoin futures backwardation is a negative for the crypto's price despite a major rebound on the market after the prices had reached 37 000 last week putting some strategists to worry analysis have empathized that the bitcoin futures curve has consistently been in backwardation for a significant period of 2018. it was marked as the year when bitcoin had dropped to 74 percent after reaching an all-time high of 20 000 by the end of 2017. according to the latest data analysts from jp had specifically focused on the 21 day moving average of the second future spread over spot prices according to their interpretation the analysts have argued that bitcoin demand is at a weak point from institutional investors that trade future contracts on the crypto exchange chicago mercantile jp morgan has also noted that bitcoin share in the market has also weakened sparking a concerning trend among enthusiasts bitcoin's dominance over the market was at 40 percent by the end of may making it the lowest market share in the past three years as reported by cointelegraph bitcoin's current market capitalization is at 43 percent and accounting for 682 billion dollars out of a total market value of 1.6 trillion dollars according to coin market cap bitcoin's prices have become a concern for most analysts after the prices rose by six percent in a single day a bloomberg analyst argues that bitcoin will hit the forty thousand dollar mark rather than twenty thousand dollars according to the latest data from coin telegraph markets and trading view bitcoin is steadily reclaiming its 35 000 mark in the midst of the new bullish forecast from analysts mike mcglone a commodity strategist at bloomberg intelligence has recently stated that bitcoin will reach forty thousand dollars much sooner than it could reach twenty thousand dollars in 2017.

In a recent tweet on wednesday mike argues that bitcoin prices will rapidly recover that forty thousand dollar mark unlike its steady recovery pace to twenty thousand dollars in two thousand seventeen according to the tweet mcglone wrote that forty thousand dollars is more likely to be achieved than twenty thousand dollars he also stated that the price dip on june 8 along with lower end range of thirty thousand dollar support consisted of many earmarks from bearish sentiments typical of enduring bull market bottoms mcglone highlighted the 20-week moving average of bitcoin was similar to the crypto providing bottoming signals in march 2020 during the height of the covet 19 pandemic resulting market crash it is evident that moving averages will continue to play an active role in which direction bitcoin prices will tend toward next bitcoin has been gaining plenty ever since el salvador announced making it a legal tender being the first country to do so this act served as a counter to all major sources that were against bitcoin's endorsement including the former president of the united states donald trump who referred to bitcoin as a scam the el salvador announcement served as a major turning point for bitcoin and mcglone who stated that bitcoin had transitioned from a cryptocurrency to a global digital reserve asset becoming far from being a speculative cryptocurrency the news of el salvador is certainly great for crypto but it is important that we put it into perspective a lot can happen with the crypto markets and public opinion will be the thing that ultimately shapes the price of bitcoin and other altcoins and knowing what type of news can trigger such price launches can be impossible to predict thank you very much everyone for watching crypto news if you could subscribe to this channel and drop us a like we would appreciate it very much as it helps our channel grow we hope to see you for tomorrow's video and remember to be informed before you make any investment decisions

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