*? GoMarket Weekly #18 ?***

We’re back with the latest edition of GoMarket Weekly, brought to you by our expert crypto analyst Mike Ermolaev! Dive into Bitcoin's recent valuation drop, Ethereum whale activity amidst ETF anticipation, and crucial regulatory developments. Here's what you need to know:

? Bitcoin Rebounds After Powell’s Comments
Bitcoin gained 1.3% after Jerome Powell’s remarks, peaking at $59,359 before stabilizing at current levels.

? BTC Correction and Market Resilience
BTC plunged below its 200 DMA, causing significant unrealized losses. Despite this, long-term holders remain resilient, with only 36% of capital flows attributed to loss-taking events.

? Strong Investor Confidence in Bitcoin ETFs
From July 5th to 11th, Bitcoin ETFs saw inflows of $997.3 million, with the highest on July 8th ($294.8M). Total outflows were $116.7 million, showing strong investor interest in Bitcoin as an asset class.

?? Germany's BTC Sales Are a Standard Practice for Seized Assets
Germany recently sold 2,700 BTC, with 6,644 BTC remaining from the 50,000 BTC seized from Movie2K. The sales included transfers of 500 BTC to an OTC address and 400 BTC each to Coinbase, Kraken, and Bitstamp. This strategy has faced criticism from some, but it is explained as a standard practice for managing seized property.

? Ethereum Whale Activity and Staking Confidence Amid ETF Optimism
A whale transferred 50,000 ETH, signaling optimism. Staked ETH reached 33.3M, with an 88% chance of ETF approval by July 26.

⚖️ BTC and ETH Gain Commodity Status
BTC and ETH were officially classified as digital commodities, reinforcing their regulatory status.

? USDC Demand Surges Post-MiCA Compliance
USDC's weekly trading volume rose to $23B in 2024 from $9B in 2023, with a market share now exceeding 90%.

?Donald Trump to Address Bitcoin 2024 Conference
Donald Trump will speak at the Bitcoin 2024 conference, potentially influencing public perception of Bitcoin.

?Public Miners Accumulate BTC
Public miners increased their BTC holdings in June, contrary to the belief they were selling off.

? Bitcoin Mining Could Aid UK’s Renewable Energy Goals
Bitcoin mining can utilize the UK's projected 72 TWh energy oversupply by 2030, generating around £2B in annual revenue from green energy.

? The full version awaits here – catch all the details now and mark your calendar for next week when we'll serve up another helping of expert insights! ??

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*? GoMarket Weekly #17?***

We’re excited to bring you the latest edition of GoMarket Weekly, authored by Mike Ermolaev, our go-to crypto market analyst! This week, we dive into Bitcoin's recent drop, Ethereum's ETF developments, and Vitalik Buterin's proposals for faster transactions. The latest trends in mining and regulatory developments are also covered here – get the insight you need to stay up-to-date.

*? Bitcoin's Sell-Pressure Factors?***
Over the past week, Bitcoin experienced a decline of around 11%. Key factors include the Federal Reserve's cautious stance on rate cuts, weak jobs data, and political uncertainties. The latest job openings data showed 8.14 million jobs at the end of May, but rising weekly jobless claims and a climbing unemployment rate are causing concern. Additionally, uncertainty over the U.S. presidential elections adds to the market unease.

*?? BTC Transfers by the German Government ??***
In the last four days, the German Federal Criminal Police Office (BKA) transferred 3,219 BTC (worth around $174.17 million) to various external wallets, increasing market uncertainty and selling pressure.

*?️ Mt. Gox Bitcoin Release?️***
Mt. Gox has begun repayments to customers, potentially releasing up to 140,000 BTC into the market, further contributing to market volatility.

*? Renewed Sell-Offs by Long-Term Holders?***
Long-term Bitcoin holders have resumed sell-offs after halting in early May, also contributing to market uncertainties. Despite this, Standard Chartered Bank predicts Bitcoin could hit $100,000 by the year's end.

*? Bitcoin ETF Flows Show Positive Sentiment ?***
Between June 28 and July 3, Bitcoin ETFs saw net inflows of $188.3 million, reflecting growing investor enthusiasm.

? Upcoming ETH ETF Launch & Buterin's Proposal for Faster Transactions ?****
The launch of spot ETH ETFs is expected to bring in $1.4–$4.5 billion in inflows over the next six months. Also, Vitalik Buterin has proposed a new method to accelerate transactions on Ethereum through a single-slot finality (SSF) system. Is Ethereum poised to take the lead in the blockchain sprint with this latest innovation?

*?️ New Solana ETF Filings, IRS Crypto Reporting Requirements & SEC Action Against Consensys ?️***
21Shares filed for a Solana-based ETF, following VanEck's similar filing. Meanwhile, the IRS introduced new regulations requiring cryptocurrency brokers to file 1099 forms starting in 2025 and track the cost basis for customers' tokens beginning in 2026. Also, the SEC took action against Consensys for unregistered securities sales.

*⛏️ Decrease in Bitcoin Miner Withdrawals ⛏️***
Bitcoin miner withdrawals have decreased significantly, dropping by approximately 72% from the recent peak on June 29, when withdrawals reached 82,122 BTC. A stark decline in miner sales weighs in favor of Bitcoin, hinting that the floodgates may soon open for price gains if the market can absorb the remaining supply.

? Get the inside story – see the full analysis here ?

Don’t miss out on the latest updates – stay tuned!

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Dear GoMining Users,

?Amidst the increased volatility in the cryptocurrency market, our team is working hard to guarantee a smooth, secure, and efficient mining experience for everyone. We would like to share information on the reasons behind this decline and explain how you can take advantage of the situation.

?Reasons for the Bitcoin Price Decline:

Compensation for Mt. Gox Clients: The announcement of a payout of 142,000 BTC by Mt. Gox has led to market reactions. If these clients decide to sell, it could significantly lower the price.

Actions by the German Government: The German government has moved part of its confiscated bitcoin reserves to exchanges, likely for sale. They still hold around 44,000 BTC, and the market fears that these could also be sold.

Liquidation of LONG Positions: Over the past day, LONG positions worth more than $500 million have been liquidated, provoking the sale of collateral positions.

Although these events have influenced the current market state and the Bitcoin price, remember that panic rarely turns out to be a winning strategy. Considering all potential risks and opportunities is essential during these market-shaking periods.

⛏️Opportunities for Miners:

Pool Payouts: Currently, the pool payout for 1 TH is 0.00000082 BTC. Many miners around the world will not be able to withstand such a low bitcoin price and will be forced to shut down their equipment. This will lead to an increase in pool payouts.

Favorable Position for GoMining Clients: You have access to paying electricity bills for your digital miners at a rate of $0.05, significantly below the average market price. Additionally, you are eligible for additional discounts on maintenance for up to 20%.

✅ Please check the Maintenance Discount section on the home screen of your app to see your current discount and how to increase it.

➡️ For more detailed information, please read our ?latest blog post here.

? Stay informed and take advantage of the current market situation with GoMining.

#GoMining #NFT

*? GoMarket Weekly #16 ?***

Don't miss the latest edition of GoMarket Weekly, where crypto analyst Mike Ermolaev dives into the whirlwind of recent cryptocurrency developments. Whether it's Bitcoin's price fluctuations, Ethereum's standing, or insights into mining activities – you'll find comprehensive coverage right here.

*?Bitcoin Price and Sentiment Are Down?***

Bitcoin experienced a decline this week, with prices ranging from $64K to $59K and the Crypto Fear and Greed Index plummeting from 63 to 47, signaling a shift in market sentiment. Is fear gripping the market?

*?Ethereum's DeFi Dominance and ETF Progress?***

Ethereum traded between roughly $3,200 and $3,500. It remains dominant in DeFi, holding around 60% of the sector. SEC Chair Gary Gensler stated that Ethereum ETF approvals are "going smoothly," with VanEck submitting a Form 8-A for its Ethereum ETF. Could this be the catalyst for Ethereum's next big move?

*⚖️Market Challenges and Regulatory Impact⚖️***

Market impacted by weak Bitcoin ETF interest, Fed policy uncertainty, and a 42% drop in large transactions.
Significant Bitcoin transfers by the German Federal Criminal Police Office (BKA) and the U.S. government added pressure. High-profile deals sending shockwaves through the market?

Upcoming Mt. Gox repayments could increase volatility. The question now is what this means for the overall stability of Bitcoin prices - will we see wild swings in the coming days?

*? Ripple CEO Lashes Out at SEC?***

Ripple CEO Brad Garlinghouse criticized SEC Chair Gary Gensler's statements at the Bloomberg summit, calling them "absolute nonsense." Could Gensler's policies impact Joe Biden's chances in the upcoming elections? Garlinghouse suggests so, highlighting Gensler's missteps with FTX and Binance.

*⛏️Bitcoin Miners’ Resilience ⛏️***

Glassnode and Blockware analysts highlight that Bitcoin miners are managing to operate effectively despite some stress. There's hope on the horizon for mining as this latest indication suggests a powerful capacity for recovery.

*? Bitcoin Tax Legislation?***

Congressman Matt Gaetz proposed a bill to allow federal income tax payments using Bitcoin, inspired by El Salvador's policy. Is the U.S. ready for Bitcoin tax payments?

*? Stay Informed ?***

The next chapter of crypto is being written – what will the BTC future look like? Is Ethereum on the cusp of a major power surge now that an ETF is looming on the horizon?

Can Bitcoin miners find a way out of their current squeeze? Read the full version of the analysis now to get deeper insights!

Canvassing the crypto landscape, GoMarket Weekly tunes in to the whispers of the market, transforming the noise into clarity for you.

*? Don’t miss out on these crucial updates in the crypto world—read the full analysis now!* ?

#GoMining #NFT #GoMarket #MarketReview

*? GoMining Academy: Debunking Bitcoin Myths*

Today, we’re tackling some of the most common myths about Bitcoin. Let's dive in and set the record straight.

*? Myth 1: Bitcoin is Harmful to the Environment*
There's a misconception that Bitcoin mining is excessively harmful to the environment due to its energy consumption. While it is true that Bitcoin mining uses significant energy, it's important to compare it with traditional financial systems. Research shows that the energy consumption of data centers for the top 100 global banks is more than double that of the Bitcoin network. Moreover, the industry is increasingly turning to renewable energy sources.

*? Myth 2: Bitcoin is Too Complicated for Regular Users*
Bitcoin is often seen as a technology reserved for tech enthusiasts. However, the reality is that the user interfaces of Bitcoin wallets and exchanges have greatly improved. Today, many user-friendly products and guides are available, making Bitcoin accessible to people with various levels of technical expertise.

*? Myth 3: Bitcoin’s Volatility Makes It Unusable as a Currency*
Bitcoin's price volatility is frequently cited as a drawback. While Bitcoin has experienced significant price swings, its volatility is gradually decreasing as the market matures and institutional adoption increases. For those seeking stability, stablecoins pegged to traditional currencies offer a less volatile option while still leveraging blockchain technology.

We'll continue debunking more myths in future posts. Share in the comments which other Bitcoin myths you'd like us to address!

#GoMiningAcademy #Bitcoin