Bitcoin’s correction may extend to April: Matrixport research
According to Matrixport, a leading digital asset financial services platform, Bitcoin’s recent correction may continue until April due to macroeconomic trends and central bank policies. This prediction comes as the US dollar gains strength, potentially impacting the value of the world’s largest cryptocurrency.
The recent surge in Bitcoin’s price, reaching an all-time high of over $58,000, has been met with a sharp correction, causing concern among investors. While some may see this as a sign of a potential market crash, Matrixport’s analysis suggests that this may be a temporary setback for Bitcoin.
The US dollar has been gaining strength in recent months, driven by the Federal Reserve’s monetary policies and the country’s economic recovery. This has led to a decline in the value of other currencies, including Bitcoin, which is often seen as a hedge against inflation and a store of value.
Furthermore, central banks around the world have been closely monitoring the rise of cryptocurrencies, with some even considering launching their own digital currencies. This increased scrutiny and potential regulation may also contribute to Bitcoin’s correction, as investors become more cautious.
However, despite these short-term challenges, Matrixport remains bullish on Bitcoin’s long-term prospects. The platform believes that the current correction is a healthy and necessary part of the cryptocurrency’s growth, and that it will continue to see significant gains in the future.
In conclusion, while Bitcoin’s correction may extend until April, it is important for investors to keep a long-term perspective and not be swayed by short-term fluctuations. With its strong fundamentals and growing adoption, Bitcoin remains a promising asset for those looking to diversify their portfolios and potentially reap significant returns in the future.
Bybit hacker launders $605M ETH, over 50% of stolen funds
The recent hack of Bybit, a popular cryptocurrency exchange, has caused quite a stir in the crypto community. The exchange reported that it had lost over $7 million worth of cryptocurrency in the attack, with the majority of the stolen funds being laundered through THORChain.
THORChain, a decentralized cross-chain liquidity protocol, has been at the center of controversy since the hack was first reported. It has been revealed that the attackers responsible for the Bybit hack have managed to launder over 54% of the stolen funds through the protocol, raising concerns about its security and reliability.
This incident has once again highlighted the vulnerability of the cryptocurrency industry to cyber attacks and the need for stronger security measures. With the increasing popularity and adoption of cryptocurrencies, it is crucial for exchanges and protocols to have robust security protocols in place to protect users’ funds.
The Bybit hack is just one of many recent attacks on cryptocurrency exchanges, with millions of dollars being stolen from various platforms in the past year alone. This has raised questions about the security of these exchanges and the responsibility they have in safeguarding their users’ assets.
In response to the hack, Bybit has assured its users that it is working closely with law enforcement and security experts to investigate the incident and recover the stolen funds. The exchange has also implemented additional security measures to prevent future attacks.
As for THORChain, the protocol has faced criticism for its lack of security measures and its role in facilitating the laundering of stolen funds. This incident serves as a wake-up call for the protocol to strengthen its security protocols and regain the trust of the crypto community.
In conclusion, the Bybit hack and the involvement of THORChain in laundering the stolen funds have once again highlighted the need for stronger security measures in the cryptocurrency industry. It is crucial for exchanges and protocols to prioritize the safety of their users’ funds and take necessary steps to prevent such attacks in the future.
Bitcoin needs ‘key’ $75k support to avoid price drop amid macro concerns
Global trade concerns continue pressuring investor sentiment, risking a potential Bitcoin correction below the key $75,000 support level.
Boerse Stuttgart Digital enables crypto trading at DekaBank
DekaBank’s entrance into crypto trading marks a case of MiCA’s positive impact on the industry adoption within the European Union.
Virtuals Protocol revenue down 97% as AI agent demand fades
Virtuals Protocol, an AI agents platform, has been experiencing a decline in popularity and performance across all metrics. This comes as a surprise to many, as the platform was once hailed as a game-changer in the world of artificial intelligence.
Founded in 2015, Virtuals Protocol quickly gained attention for its innovative approach to AI agents. The platform boasted advanced algorithms and cutting-edge technology, allowing users to create and train their own virtual agents for various tasks and industries. This was seen as a major breakthrough in the field of AI, with many experts predicting that Virtuals Protocol would revolutionize the way we interact with technology.
However, in recent months, the platform has been facing a downward trend. Its once loyal user base has dwindled, and its performance stats have taken a hit. This has raised concerns among investors and industry insiders, who are now questioning the future of Virtuals Protocol.
One of the main reasons for this decline is the emergence of new competitors in the market. With the rapid advancements in AI technology, many other platforms have emerged, offering similar services at a lower cost. This has led to a decrease in demand for Virtuals Protocol, as users are now turning to these more affordable alternatives.
Another factor contributing to the decline of Virtuals Protocol is its lack of adaptability. While the platform was initially praised for its advanced algorithms, it has failed to keep up with the ever-changing landscape of AI. This has resulted in outdated technology and limited capabilities, making it less attractive to users.
Despite these challenges, Virtuals Protocol remains determined to regain its position as a leader in the AI industry. The platform has announced plans to revamp its technology and introduce new features to stay competitive. Only time will tell if these efforts will be enough to revive the once-promising platform.
Pi Network responds to Bybit CEO’s scam allegations
Pi Network, a decentralized cryptocurrency project, recently made headlines when it was reported that Chinese police had issued a report targeting individuals impersonating the project. According to Pi Network, the report was directed at bad actors who were using the project’s name and logo to scam unsuspecting individuals.
The project, which aims to create a more inclusive and user-friendly cryptocurrency, has gained a lot of attention in recent months. With over 17 million users worldwide, Pi Network has been praised for its innovative approach and user-friendly interface. However, with its growing popularity, the project has also become a target for scammers looking to take advantage of its success.
In response to the Chinese police report, Pi Network has reiterated its commitment to protecting its users and ensuring the integrity of the project. The team behind Pi Network has stated that they are working closely with authorities to identify and take action against those responsible for the impersonation scams.
Pi Network has also urged its users to be cautious and vigilant when it comes to any suspicious activity related to the project. They have advised users to only download the official Pi Network app from trusted sources and to never share their personal information or private keys with anyone claiming to be affiliated with the project.
Despite the unfortunate incident, Pi Network remains determined to continue its mission of creating a more inclusive and accessible cryptocurrency. The project has gained a loyal following due to its unique approach and community-driven model, and it is clear that they will not let a few bad actors tarnish their reputation.
In conclusion, while the Chinese police report may have caused some concern, Pi Network has reassured its users that they are taking all necessary measures to protect their community. As the project continues to grow and evolve, it is important for users to remain vigilant and only engage with official channels to ensure a safe and secure experience.
When will Bitcoin price bottom?
Bitcoin, the world’s largest cryptocurrency, has been experiencing a significant drop in price over the past few weeks. In fact, it has reached support levels that haven’t been seen in months. This has left many traders wondering where the bottom is and what the future holds for BTC.
The recent drop in Bitcoin’s price can be attributed to a variety of factors, including increased regulatory scrutiny and a general market correction. However, despite the dip, many experts and analysts remain bullish on the long-term prospects of Bitcoin.
So, where do traders think BTC price action will find a definitive floor? According to some, the $30,000 level could serve as a strong support level for Bitcoin. This level has been tested multiple times in the past and has proven to be a significant barrier for bears. If Bitcoin manages to hold above this level, it could signal a potential reversal and a move towards higher price levels.
Others believe that the $25,000 level could also serve as a strong support level for Bitcoin. This level has been a key resistance level in the past and could now act as a support level for the cryptocurrency. If Bitcoin manages to hold above this level, it could indicate a strong buying pressure and a potential bounce back towards previous highs.
However, there are also some traders who believe that Bitcoin could drop even further, potentially reaching the $20,000 level. This level has been a major psychological support level for Bitcoin in the past and could serve as a strong floor for the cryptocurrency.
Overall, the current price action of Bitcoin has left traders and investors on edge. While some see this as a buying opportunity, others are cautious and waiting for a clearer direction. As always, it’s important to do your own research and make informed decisions when it comes to investing in cryptocurrencies.
Hong Kong invests $125M in AI, expands Cyberport’s supercomputing power
Hong Kong’s Cyberport, a leading technology hub, has recently announced a major expansion in its research and development efforts in the fields of artificial intelligence (AI) and Web3. With a whopping $125 million in funding, Cyberport aims to boost the development of blockchain technology and nurture top talent in the AI industry.
This significant investment comes at a crucial time when the world is witnessing a rapid growth in the adoption of AI and blockchain technology. As these cutting-edge technologies continue to revolutionize various industries, Cyberport’s move to further its research and development efforts is a step in the right direction.
The funding will be utilized to support various initiatives, including the establishment of a new AI research center and the expansion of Cyberport’s existing Web3 research lab. These facilities will provide a conducive environment for researchers, developers, and entrepreneurs to collaborate and innovate in the fields of AI and blockchain.
In addition to research, Cyberport will also focus on nurturing talent in these emerging technologies. The funding will be used to enhance existing programs that provide training and support to individuals interested in pursuing a career in AI and blockchain. This will not only help to bridge the talent gap in these industries but also position Hong Kong as a leading hub for AI and blockchain development.
The expansion of Cyberport’s research and development efforts is a testament to Hong Kong’s commitment to staying at the forefront of technological advancements. With its strategic location, world-class infrastructure, and supportive government policies, Hong Kong is well-positioned to become a global leader in AI and blockchain innovation.
In conclusion, Cyberport’s $125 million investment in AI and Web3 research is a significant step towards driving the growth and development of these transformative technologies. With this funding, Hong Kong is set to become a hub for cutting-edge research, talent development, and innovation in the fields of AI and blockchain.