Bitcoin Going to $120,000 in 2024!?

Bitcoin hash rate on the rise despite Heat Wave price of Bitcoin drops to 27 000 on binance.us bitcoin price could go To a hundred and twenty thousand dollars Before the end of the year T Swifty Allegedly did accept the FTX partnership But was turned down by FTX D Dollarization is inevitable Dynex is in Danger of a 51 attack conflux proposes Two new Improvement proposals and Komodo Is renaming all of their applications Welcome to another episode of locks Where I cover the latest cryptocurrency News from the perspective of a Cryptocurrency miner as quickly as Possible let's get into it All right Foreign We have some exciting news to share About bitcoin's hash rate from luxor's Hash rate index over the weekend Bitcoin's hash rate reached a new All-time high of 401 exahash a second That's an incredible milestone for the Network and shows the growing strength And security of the Bitcoin blockchain Interestingly this surge in hash rate Comes on the heels of a heat wave in Texas which is known as the Bitcoin Mining capital of the United States Despite the extreme heat the Texas grid Managed to withstand the strain and now The hash rain is bouncing back with the Vengeance the seven day average hash

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Rate has increased by 8.5 percent to 398 Eggsahash a second while the three-day Average has risen by a staggering 18 Percent to 444 exahash per second what's Even more remarkable is that the Majority of this growth occurred over The weekend it's not just Texas miners Contributing to this surge in hash rate Miners from around around the world are Also expanding their capacity fueling The overall growth of the network this Means that the upcoming difficulty Adjustment is expected to be significant Based on the forecast from the hash rate Index on Luxor they anticipate an Adjustment above 7.5 percent meaning That miners may experience lower payouts Unless the price of Bitcoin increases Substantially one interesting Trend to Note is that as the hash rate surges the Hash price is actually falling this is Not due to a decline in bitcoin's price But rather a decrease in transaction Fees after a period of high transaction Fee volume fees are now normalizing Resulting in lower overall hash prices Additionally we are seeing a Divergence In the pricing of different mining rigs Next gen A6 like the s19 XP are rising In prices my designers prioritize these Models in preparation for the upcoming Having meanwhile other models are either Falling or stagnating in value this Offers a great opportunity to still get

Into the market with s19 s19j and s19 Pro Models overall the current state of Bitcoin's hash rate is impressive and Indicates the continued growth and Development of the network we will Continue to monitor these Trends and Provide you with the latest updates in The world of cryptocurrency mining Bitcoin was trading at a discount of Nearly three thousand dollars compared To Global spot prices presenting a Potentially lucrative opportunity for Traders ethereum was also experiencing a Discount of approximately two hundred Dollars on the same exchange even stable Coins like tether were trading below Their intended value however there is a Catch these discounted prices are only Applicable when trading crypto Currencies against Fiat USD on the Platform and users have been unable to Deposit new USD into their binance.usd Accounts or binance.us accounts excuse Me since June 9th this means that most Investors cannot take advantage of these Discounts due to restrictions imposed by The Exchange Binance.us has informed its customers That USD withdrawals will be suspended Starting July 20th adding to the Uncertainty surrounding the platform and Contributing to the persisting Discounted prices The existence of large Arbitrage

Opportunities between major exchanges Like this raises questions as noted by Jim chanos an American Investment Manager if cryptocurrencies are Considered a Next Generation solution to Fiat currencies why do such price Differences exist this observation Highlights the ongoing challenges and Complexities within the cryptocurrency Market Standard Chartered bank has released a Research report stating their revised Price Forecast for Bitcoin according to The British multinational Bank Bitcoin Could potentially rise to fifty thousand Dollars by the end of this year and up To a hundred and twenty thousand dollars By the end of 2024. this is an increase From their previous prediction of a Hundred thousand dollars by 2024 which They now consider too conservative Bitcoin the world's largest Cryptocurrency by market value has Already seen an 80 increase since the Start of this year and is currently Trading at around thirty thousand one Hundred dollars Standard Chartered Attributes this potential rise in Bitcoin's price to several factors with One of them being banking sector crises The report also highlights The increased Profitability of Bitcoin miners as a Driving force behind the price surge Jeff Kendricks the head of FX and

Digital assets research at Standard Chartered explains that miners not only Maintain the Bitcoin Ledger but also Play a crucial role in determining the Net supply of newly mined Bitcoin with This new price Force forecast Standard Chartered sees significant upside Potential for bitcoin's future valuation However it's important to remember that The cryptocurrency market is highly Volatile and subject to various factors As always it's important to do your own Research search and make informed Decisions when investing in Cryptocurrencies according to a person Familiar with the matter Taylor Swift Did indeed sign and agree to a Sponsorship deal with FTX after months Of discussion however FTX Executives Ultimately decided not to proceed with The agreement this information Contradicts the public messaging Surrounding the failed FTX Swift deal Previously a class-action attorney Praised Swiss due diligence efforts and Stated that she had questioned FTX about Their listing of assets as unregistered Securities however it turns out that Swift did in fact agree to the deal the Signed agreement was sent to FTX founder Sam Bateman Freed's email box but Remained unanswered for a few weeks Ultimately a group of FTX Executives Convinced Bateman freed not to move

Forward with the reported 100 million Dollar deal Three other sources familiar with the Matter as reported by the New York Times Confirmed that Swiss team signed the Deal with FTX after six months of Negotiation but SBF decided to cancel it It's important to note that the person Familiar with the matter wishes to Remain anonymous due to ongoing Federal And bankruptcy proceedings the Revelation of an FTX Swift partnership Was initially reported by the financial Times As a quick recap here FTX filed for Bankruptcy protection in November of 2022 and SPF himself faces multiple Federal charges including fraud and Campaign Finance violations additionally Three other FTX Executives have pleaded Guilty to various federal charges and Are cooperating with the government's Prosecution of SBF So there you have it Sons despite the Initial confusion in public statements Taylor Swift did indeed sign an Agreement with FTX but ultimately the Deal fell through in a bold move to Challenge the global Reserve status of The U.S dollar the brics alliance is Planning to launch a new currency backed By gold according to RT News Russia has been advocating for this Strategy emphasizing the importance of

Pegging the currency to Gold this Development comes just ahead of the Upcoming brics Summit which will be held In South Africa in August during the Summit the formation of this new Currency will be discussed and laid out To solidify their intentions the brics Nations have been stockpiling gold over The past 18 months aiming to lessen Their Reliance on the U.S dollar China For instance purchased 102 tons of gold While Russia acquired 31.1 tons in the Last six months India on the other hand Added 2.8 tons to his gold reserves for The first time in over a year with the Potential for further acquisitions by Year end By backing the new currency with gold The brics alliance aims to create an Alternative to the US dollar potentially Making it the preferred choice for Cross-border transactions this move Places the U.S is dollars Global Standing in Jeopardy as gold may be Viewed as a safer investment option Especially in an uncertain economic Climate currently the U.S dollar carries The risk of mounting debt which could Have detrimental effects on developing Countries if a debt ceiling crisis Worsens as a result many nations in Asia Africa Latin America and Europe are Exploring alternatives to the US dollar For Global settlements seeking stability

And security this upcoming launch of a Gold back currency by the brics alliance Marks a significant step toward Challenging the dominance of the US Dollar in the Global Financial system as The world closely watches the Developments of The brics Summit in August it remain to be seen how this Strategic move will shape the future of Global Currency Dynamics Dynex has a Problem the current hash rate Distribution sees Echo pool with over 51 Percent of the hash rate this presents Security issues as it means if someone Hacked like a pool or the pool itself Has a bad actor involved there is Potential to compromise the Dynex Network due to this the Dynex developers Released a vote on Discord with Potential Solutions unfortunately due to The low voter turnout of just a few Hundred people it was decided to not Make any changes if you are mining Dynex Please consider choosing a pool other Than echapool for health of the network Conflux has released two new Improvement Proposals for the network Cip112 and cip113 to give a simple Summary of cip112 the custom field in Blockheaders is currently encoded Incorrectly instead of appending the rlp Encoded data of each element in the cost Custom list raw bytes are being appended This issue can result in a different

Custom field when decoding palune's Proposal aims to fix this by ensuring That the custom field is encoded and Decoded as expected moving on to our Second proposal Cip113 this proposal is also by payloon Focusing on making the proof of stake POS for short finalization process Faster on the complex Network the Proposed implementation involves Reducing POS round time from 60 seconds To 30 seconds additionally the wait time For validators to sign a proof of stake Confirmed pivot block will be shortened From 50 epochs to 20 epochs it's Important to note that both of these Proposals are considered protocol Breaking changes meaning they require a Hard Fork to be implemented upgraded Nodes should ensure they encode in Decode block headers in accordance with These new rules We have exciting news from Komodo a Leading blockchain technology provider They are taking a significant step Towards making the decentralized economy More accessible for end users and Developers as of today Komodo has Officially renamed its Flagship end user Application from Atomic decks to Komodo Wallet this change aims to highlight Their Technologies closer to the Well-established Komodo brand making Them more accessible to Everyday crypto

Users and blockchain developers alike But that's not all the project has also Renamed their atomic decks API to Komodo D5 framework this change better reflects The multi-faceted nature of komodo's Developer Solutions appealing to crypto Projects Enterprises and independent Developers Now all of the Komodo products will Exist under a new unified Pro brand Umbrella called Komodo SDK this Strategic move emphasizes their Market Leadership in non-custodial wallet Technology and allows them to better Present their unique technology to the Growing community of crypto hodlers Komodo wallet is an all-in-one Application that includes a peer-to-peer Decks and peer-to-peer Bridge with Cross-chain swap capabilities it Provides Secure Storage for hundreds of Blockchain networks and their respective Cryptocurrencies so for those looking to Move their funds off of centralized Exchanges Komodo wallet is a solution in Addition by renaming the atomic decks API to Komodo D5 framework Komodo aims To reach more blockchain developers this Change reflects the importance of their Developer Solutions and invites more Cryptocurrency projects Enterprises and Independent developers to join the Komodo ecosystem them furthermore brand Unification supports a larger initiative

To highlight the growing importance of The KMD coin currently take your orders On Dex trades within Komodo while it Receive a 10 discount when selling KMD For another asset additionally Komodo Plans to implement a mechanism that will Burn a small amount of KMD for each Decks trade that takes place within the Komodo wallet making KMD a deflationary Asset Cadence State stableman the CTO of Komodo believes that the brand Unification represents a pivotal moment In komodo's history it encapsulates Their vision for a decentralized future Unlocking New Opportunities and driving Greater adoption of decentralized Technologies he is confident that the Komodo wallet will set a new industry Standard as the ultimate non-custodial Wallet and cross-chain decentralized Exchange all in one application to Support the brand update Komodo kindly Asks everyone to replace any existing Atomic decks logos with Komodo wallet Logos you can find the new logos on Their website that wraps up another Episode of blocks thanks for watching For my cryptocurrency mining guide Please check out son of a tech.com and For my daily moves check out son of a Tech.locals.com I will see you next Tuesday

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