Bitcoin News and Finance: What You Need to Know

In a freshly unveiled blog piece, Arthur Hayes, the former CEO of crypto derivatives platform Bitmex, posits that bitcoin is the prime currency for artificial intelligence (AI). Hayes maintains that moving forward, BTC will be the favored currency for AIs since they “must use a system that is available at all times, digital, and completely automated.” Arthur Hayes Envisions AI and Bitcoin Forming an Alliance, Predicts Price Soaring to $760,000 The ex-chief executive of Bitmex has shared several essays on his cryptohayes substack.com blog, and on July 6, 2023, he delved into bitcoin and artificial intelligence (AI). Hayes envisions bitcoin playing a crucial role in AIs’ future as he contends in his latest essay that the dominant crypto asset will serve as “food of AI.” Hayes proposes that AI and robotics mainly focus on eradicating mundane tasks, freeing more individuals to chase their dreams and produce art and culture. He anticipates this leading to a resurgence of innovation and...

Bitcoin’s market performance in the first half of 2023, surging by 80% against the U.S. dollar, has enthusiasts eagerly speculating about its year-end price. Techopedia and Changelly have released price prediction reports with varying estimates, suggesting that bitcoin’s value could range from $25,175 to $40,836 per unit by the close of the year. Techopedia vs. Changelly: Clash of Bitcoin Price Predictions for 2023’s Year End Throughout the years, countless market observers have taken on the challenge of forecasting the price of bitcoin (BTC) , yielding a mix of wildly inaccurate predictions and astutely accurate projections. In late January 2023, a panel consisting of 56 experts in the crypto and fintech fields, as conducted by product comparison website finder.com, confidently stated that BTC would reach its peak at $29,095 by the end of 2023. It’s worth noting that BTC has already surpassed this anticipated peak, surging beyond the $31K threshold as of July 6. In a recent su...

Solana was one of Friday’s biggest gainers, as the cryptocurrency rose by over 11% during today’s session. The move came as markets reacted to June’s nonfarm payrolls report, which came in at 209,000, below expectations of 229,000. On the other hand, cardano ended a three-day losing streak. Solana (SOL) Solana (SOL) rallied for a second straight session on Friday, as the token rose above a ceiling at $20.00 SOL/USD hit an intraday peak at $21.22 earlier in today’s session, which came in response to the latest U.S. nonfarm payrolls report. As a result of the surge, solana hit its strongest point since June 5, when the price peaked at $22.06 Looking at the chart, the move came as the relative strength index (RSI) broke out of a resistance level of 65.00. At the time of writing, price strength is now tracking at 68.30, which is its highest level since April 14. The next visible point of resistance appears to be at the 70.00 level, and in the event it reaches this point, it is like...

Users of the cross-chain protocol Multichain were on July 6 informed of an abnormal transfer of lockup assets on the Multichain MPC address to an unknown address. While the Multichain team has urged users to stop using the cross-chain protocol, Binance CEO Changpeng Zhao (CZ) told his followers that the incident does not affect Binance users or the exchange itself. Users Told Revoke All ‘Contract Approvals Related to Multichain’ Just over a month after the disappearance of the Multichain CEO known only as Zhaojun sent shockwaves through the crypto community, users of the cross-chain protocol were on July 6 informed of an abnormal transfer of “lockup assets to an unknown address.” According to a statement shared via the cross-chain protocol’s verified Twitter handle, the Multichain “team is not sure what happened and is currently investigating.” As reported by Bitcoin.com News on June 3, Zhaojun’s unavailability saw the router technology problems experienced by the cross-chain prot...

Bitcoin dropped below the $30,000 level on Friday, ahead of the upcoming nonfarm payrolls (NFP) report in the United States. Today’s report comes as private sector jobs rose by 497,000 in the last report, double the expected number. Friday’s NFP is projected to come in at 225,000. Ethereum hit a one-week low today. Bitcoin Bitcoin ( BTC ) dropped to a one-week low on Friday, ahead of the upcoming nonfarm payrolls report in the United States. Payrolls are expected to come in at 225,000 for June, less than the 339,000 jobs added the month prior. Many believe a strong number will almost certainly guarantee that the Federal Reserve will hike rates later this month. Bitcoin chart by TradingView BTC /USD dropped to a low at $29,777.28 earlier in the session, which is its lowest point since last Friday, when price fell to $29,417. Today’s sell-off came as the 14-day relative strength index (RSI) plunged to a floor at the 55.00 mark. In addition to this, the 10-day (red) moving ave...

Bitwage, a cryptocurrency payroll company, has announced it will remove USDC-based payments for U.S. residents. In an email sent to U.S.-based customers, Bitwage explains removing the second-largest stablecoin by market cap from its platform is related to a “more strict regulatory climate” in the U.S. regarding crypto. Bitwage Drops USDC Payments in the U.S. Crypto payroll solutions company Bitwage has announced that it will drop USDC from its supported currencies for U.S. residents. In an email sent to customers affected by the measure, Bitwage informed that the company would be disabling this kind of payment due to a “more strict regulatory climate” in the country. The email, sent to customers on July 5, advises customers using USDC as a means of payment to remove it from Bitwage’s platform. The company explained that if not withdrawn by July 13, affected customers would have all their wallets and bank accounts reset on the platform, forcing them to set up their payment data aga...