..

Bitcoin Shoots Over $10K

Written by:
Aaron Goldstein
Published on:
Jun/01/2020

The price of Bitcoin has hit an important milestone June 1, 2020, crossing above the $10,000 mark.

The number was considered a crucial resistance price as Bitcoin has mostly hovered between the $9000 and $10000 mark over the past few weeks.  The price peaked at $10370 Monday evening Eastern Standard Time.

Leading up to this surge, $123 million worth of short positions were liquidated on BitMEX alone, according to data shared by crypto derivatives platform Skew.com.

An hour before BTC moved past the $10,000 price point, Galaxy Digital’s Michael Novogratz wrote that once “$10k goes it will move fast,” adding that investors should “get on the train.”

The rise comes at a time of civil unrest in the US following the death of an unarmed black man while in the custody of Minnesota Police.  One officer has since been charged with murder.

Colin Harper of Forbes writes:

While Bitcoin’s price action is notable amid such an unstable domestic situation in the US—and may corroborate the bullish sentiment of Bitcoin proponents whose digital gold narrative is catching on with mainstream investors—there’s no guarantee Bitcoin will stay above $10,000 in the short-term, of course.

Bitcoin trader Scott Melker, for example, indicated on Twitter that $10,500 is really the price point that bulls want to signal a clear reversal.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Dow Jumps 400 Points, Nasdaq Surges 2% Following Inflation Report: Latest BetOnline Financial Odds

Consumer prices rose 8.5% in July, and while that may seem like a lot, it was less than expected as the pace of the rise had slowed.

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

£9.9 Billion Class Action Lawsuit Filed Against Binance, Kraken, Others

A £9.9 billion class action lawsuit has been filed against Binance, Bittylicious, Kraken and Shapeshift.  The plaintiffs are mostly BSV Blockchain investors.

VERDICT: Peter McCormack Liable for Defamation on All Counts

VERDICT: Peter McCormack Liable for Defamation on All Counts

The judge also found that McCormack’s defamatory tweets had caused serious harm to Wright's reputation in the United Kingdom.

Odds on the JetBlue Spirit Airways Merger Getting Approval

Gambling911.com has the odds of a JetBlue Spirit Airways merger receiving approval from the U.S. government by July 2024 set at +130.

Mark Cuban Anticipates SEC to Impose 'Nightmare' Crypto Registration Rules

Mark Cuban Anticipates SEC to Impose 'Nightmare' Crypto Registration Rules

And another serial entrepreneur, Calvin Ayre, asks: "How is anyone surprised that the SEC thinks most token platforms are securities when we have published this", directing folks to an article appearing on CoinGeek entitled: 'Ethereum 2.0 – Ether’s journey from a security to a security'

Syndicate