Binance Executive Says Retail Investors Flocking to Bitcoin (BTC) and Crypto Amid Rampant Inflation: Report

A top executive of the world's largest crypto exchange platform by trading volume is reportedly saying that retail investors are buying up crypto assets as inflation continues to ravage the global economy.

Timeline of Bitcoin

The overall crypto market cap is now maintaining its range above $1 trillion, and the majority of the cryptocurrency assets seem to be thriving.  The Bitcoin price, which was earlier struggling around $23,000, has reclaimed the $24,000 level and might close the weekend on a bullish note. However, the latest analysis has a different prediction.

The recovering market has seen many cryptocurrencies cross the threshold of 100% to rally farther beyond expectations. Of late, however, one crypto-asset that has particularly stood out is Celsius.

The BTC/USDT pair rises within the wedge channel of an inverted pennant pattern. The continuation pattern has the same core concept as the inverted flag pattern, which we explained in our previous article.

In an interview with Kitco, Michael Saylor, the former CEO of MicroStrategy, predicted that Bitcoin would demonetise gold. “Gold was metallic money for the 19th century,” he said while adding that gold will not be adopted as money in the 21st century.  He predicted that a spot-based Bitcoin exchange-trade fund might come in a year.

According to cryptocurrency industry veteran Bobby Lee, both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) will soon get back to their all-time highs, which were reached in November 2021.  In a recent interview, Lee said that as the current crypto market is facing a stiff downturn, he is optimistic about a market revival.

Exchange balance refers to the amount of Bitcoin sitting on exchanges, and it was following a downtrend since January 2022 for both Coinbase and Binance when suddenly Binance's exchange balance took a turn and started to spike in May. The post Binance holds the most amount of Bitcoin on exchanges after roles have reversed with Coinbase appeared first on CryptoSlate.

Bitcoin Mining in the 22 Century is hard to predict, but some things are pretty self-evident, based on current trends in the industry. Whenever the price of Bitcoin declines, there are scattered forecasts that the mining sector is doomed and that miners are ready to shut down their machinery collectively and start to succumb.

Norwegian BTC miner intends to relocate its operations north of the Artic Circle, according to reports. The decision to relocate was made as a result of the nation's growing power prices, even though the issue has not yet significantly touched the northern areas.

As the markets close off the week on a high note, analyst Justin Bennett is giving his opinion on a number of leading crypto assets. Bennett identified $24,200 as a pivotal “make-or-break” milestone for Bitcoin in the most recent issue of the trader's Cryptocademy newsletter.

Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading platform, and other crimes, rejects U.S. charges.