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Technical Analysis: Bitcoin Price Continues to Fall Severely

Bitcoin rose on Saturday after its most severe downturn yet, as signs of optimism returned to the cryptocurrency market ahead of the holiday. The price of a single Bitcoin recovered more than 8% on Saturday to hit $15,566, giving the overall cryptocurrency market a value of about $261 billion. Trading volume over the past 24 hours has exceeded $14.5 billion, with trading activity spread across multiple exchanges. Bitfinex, Binance, and GDAX have the highest turnover in terms of trading volume. Bitcoin fell below $12,000 on Friday, according to Coinbase. The correction comes after bitcoin more than doubled in value over a three-week period. Bitcoin was trading at just $1,000 about 12 months ago.

The situation is optimistic again.

Optimism has returned to the crypto market after a series of negative Team that shook investor sentiment. Earlier this week, the Securities and Exchange Commission (SEC) suspended trading of The Crypto Company (CRCW) over potential price manipulation. The California-based cryptocurrency consultancy has surged 1,700% in three months, prompting regulators to investigate its meteoric rise. Crypto Co describes itself as a platform “providing a portfolio of digital assets, technology and advisory services for the Blockchain and Cryptocurrency markets.” Meanwhile, bitcoin cash trading has been suspended on Coinbase’s GDAX exchange as the company investigates possible insider trading. The bitcoin spinoff launched on the platform on Thursday, sending prices soaring. To make matters worse, South Korean crypto exchange Youbit was forced to shut down after another security breach wiped out nearly a fifth of its customers’ funds. Back in April, hackers stole $35 million worth of Currency. The latest incident forced the Seoul-based exchange to file for bankruptcy and close permanently. A major Bitcoin fork on Friday forced Coinbase to halt Currency trading twice. The fork caused double-digit percentage losses in the altcoin world, with the total value of cryptocurrencies falling by more than $230 billion. The market rebounded on Saturday, with the total market capitalization reaching $600 billion, according to CoinMarketCap. Interestingly, Bitcoin’s market share fell by about 44% on a trading volume of $36 billion. Even with the latest drop, Bitcoin is still on track for a bullish year. In 2017, Bitcoin entered adulthood for the first time in its history, signaling a profound shift in investor sentiment. The CBOE has formally announced plans to list six Bitcoin futures ETFs, according to a public SEC filing. If cleared, Bitcoin-related investments would be available for inclusion in traditional pensions. Disclaimer : This information is provided as a personal blog, not as general information or investment advice. We are not responsible for your investment decisions.

Mining EBTC: The Power of DPoS

Mining EBTC is straightforward and user-friendly, making it accessible to a wide audience. The process requires users to deposit Binance Coin (BNB), which acts as a stake to validate transactions within the network. Unlike traditional mining, which requires expensive hardware and consumes large amounts of energy, EBTC mining is more eco-friendly and cost-effective due to the DPoS mechanism.

Staking EBTC: Earning Rewards Through Locking

In addition to mining, EBTC offers users the opportunity to stake their coins. Staking involves locking up EBTC in the network, which in turn generates daily rewards. This process not only helps to secure the network but also allows users to earn a significant passive income.

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