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Bitcoin (BTC) and the Entire Crypto Market Unfazed by Bithumb Hack

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Many crypto traders wake up to the news that the popular South Korean exchange, Bithumb had been hacked. In the news report, the exchange was forced to suspend deposits and withdrawals after losing $30 Million worth of cryptocurrencies to the masterminds of the heist who are yet to be known. The exchange would advise its users via twitter with the following instructions:

Considering that the hack happened early this morning of June 20th, and checking the cryptocurrency markets, we find that Bitcoin (BTC), dipped from only $6,759 to current levels of $6,658: a slight drop of 1.4%. This shows that the King of Crypto has weathered the storm this time around. The market reaction to the hack this time around seems to be more mature in that it did not trigger a major flash crash due to panic selling.

Looking back at the Coinrail hack on June 11th, Bitcoin dropped from values of $7,600 to new lows of $6,300 in less than 48 hours. There was also the additional bad news of investigations on 4 other prominent exchanges by US Authorities. The total crypto market capitalization dropped from values of $341 Billion to the low levels of $260 Billion within the same time period. This is a significant drop of 24%. The crypto markets have been gradually recovering over the past few days to the current total market levels of $284 Billion.

Ethereum (ETH) is also holding steady after the Bithumb hack and is currently trading at $525 and up 1.24% in the last 24 hours. Ripple (XRP) has only undergone a slight decline of 1.14% and is currently trading at $0.53. Bitcoin Cash (BCH) on the other hand, is trading at $876 and down only 0.56%.

With respect to the token of TRON (TRX), current market analysis indicate that it is up 4.62% and currently trading at $0.047. With the token swap scheduled in less than 4 days, the value of the token is bound to show some more upward mobility in value as more and more traders notice the event that is the Independence Day on the 25th of June.

It is therefore with the quick analysis above, that it can be declared that the crypto-markets are unfazed by the current news of Bithumb being hacked. Perhaps crypto traders have now become accustomed to hacks as well as the corresponding crypto exchanges working swiftly to prevent further losses. Three cheers for Bithumb and Coinrail on their efforts to manage both hacks.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

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