While Lloyd Blankfein doesn’t own any bitcoin himself — nor does his American multinational investment bank and financial services company — the CEO of Goldman Sachs still believes that critics shouldn’t dismiss the first and foremost cryptocurrency’s future.
Dan Morehead, CEO of Pantera Capital, shared his thoughts on the tumultuous cryptocurrency market conditions, outlining that Bitcoin has managed to outperform the company’s Digital Asset Fund in May. He also took the opportunity to criticize Warren Buffet’s overly negative position towards digital currencies.
Bitcoin transaction fees have soared over the past 24 hours — likely due to Bithumb cleaning out its hot wallet in an effort to secure its remaining funds after hackers allegedly stole $31.5 million from the exchange.
Popular South Korean cryptocurrency exchange Bithumb has suspended all deposits and withdrawals following a hack resulting in the theft of more than $31 million worth of cryptocurrencies. This marks the second Korean exchange hack in as many weeks.
Bitcoin’s decrease in volatility may signal that the bottoming process has already begun — but it may still have a way to fall.
Bitcoin’s hash rate reached new all-time highs in June, prompting well-known industry figures to renew calls for imminent price increases.
The price actions of Bitcoin and Ethereum have failed to break out of their bearish trends this past month – and investors are preparing for lower support levels in the near future. Positive market conditions could likely lead to an influx of first-time investors as well as veterans adding to their positions at the bottom.