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Columns Bitcoin plummeted on Friday, was it the beginning of a bear market or a bull market correction
Recently, Bitcoin experienced a significant price crash, which attracted widespread attention in the market. On Friday, the price of Bitcoin plummeted by more than $6,000 in 24 hours, from around $60,182 to $53,600, a historic one-day decline. This sharp drop has caused investors to speculate whether it marks the beginning of a bear market or a correction in the middle of a bull market.
Bitcoin's price trend was quite volatile in 2024. At the beginning of the year, it reached an all-time high of $73,798, but the price has remained unstable since then. There are many factors affecting this sharp decline, the main ones including the upcoming implementation of Mt. Gox's customer compensation program, political uncertainty over Trump's possible return to the White House, and the German government's massive Bitcoin sell-off.
Mt. The Gox customer compensation program will be implemented in July 2024 and is expected to distribute more than $8 billion in Bitcoin and Bitcoin Cash to victims. This large-scale market injection is expected to trigger significant selling pressure, thereby putting downward pressure on the Bitcoin price. Meanwhile, the large-scale sell-off of Bitcoin by the German government further increased the selling pressure on the market and pushed down the price of Bitcoin.
Mt. Gox Customer Reimbursement Program
“Mt. The “Gox Customer Reimbursement Program” is for 2014 Mt. A plan to pay compensation to victims of the Gox exchange hacking incident. Mt. Gox was the largest Bitcoin exchange in the world at the time. In February 2014, it was lost due to a major security breach...
Bitcoin's price trend was quite volatile in 2024. At the beginning of the year, it reached an all-time high of $73,798, but the price has remained unstable since then. There are many factors affecting this sharp decline, the main ones including the upcoming implementation of Mt. Gox's customer compensation program, political uncertainty over Trump's possible return to the White House, and the German government's massive Bitcoin sell-off.
Mt. The Gox customer compensation program will be implemented in July 2024 and is expected to distribute more than $8 billion in Bitcoin and Bitcoin Cash to victims. This large-scale market injection is expected to trigger significant selling pressure, thereby putting downward pressure on the Bitcoin price. Meanwhile, the large-scale sell-off of Bitcoin by the German government further increased the selling pressure on the market and pushed down the price of Bitcoin.
Mt. Gox Customer Reimbursement Program
“Mt. The “Gox Customer Reimbursement Program” is for 2014 Mt. A plan to pay compensation to victims of the Gox exchange hacking incident. Mt. Gox was the largest Bitcoin exchange in the world at the time. In February 2014, it was lost due to a major security breach...
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![Picture](https://ussnsimg.moomoo.com/sns_client_feed/70719271/20240622/1718987241712-random3858-70719271-android-org.jpeg/thumb?area=100&is_public=true)
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The race to $4 trillion is on. $Apple(AAPL.US$, $Microsoft(MSFT.US$and $NVIDIA(NVDA.US$are in the $3 trillion club. So, which technology behemoth can adapt to keep growth rates elevated enough to keep the good times going?
We believe over the next year the race to $4 Trillion Market Cap in tech will be front and center between Nvidia, Apple, and Microsoft," wrote Wedbush analyst Daniel Ives in a research note.
Nvidia?
Nvidia could reach a $4 tril...
We believe over the next year the race to $4 Trillion Market Cap in tech will be front and center between Nvidia, Apple, and Microsoft," wrote Wedbush analyst Daniel Ives in a research note.
Nvidia?
Nvidia could reach a $4 tril...
![Race to $4 Trillion: Which Tech Giant Will Win?](https://ussnsimg.moomoo.com/sns_client_feed/71445112/20240614/1ba9e51dee694778b6b00519b5a55f1b.jpg?area=100&is_public=true)
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The Red Sea crisis dragged down; shipping costs soared 40%, and the Malaysian port container was congested
The Red Sea crisis began to affect the Asian shipping market. Not only did it cause port terminals to be congested, but shipping rates also increased by nearly 30-40% last month; it is reported that following the “explosion” of the Singapore port, Klang Port in Xuzhou, Malaysia, and Tanjung Pelabas Port in Johor have also recently faced congestion!
According to information, the tense situation in the Red Sea continues to this day, and it has seriously disrupted trade to and from the Suez Canal waterway. In addition to causing shipping premiums in the Middle East region to rise, it has also caused shipping costs to Europe, the US, and the Atlantic Ocean to be drastically raised by nearly 40 to 50%.
On the Malaysian side, it is reported that local customs brokers have successively issued notices to increase shipping charges starting on the 1st of this month.
According to a source in the shipping industry revealed to “Nanyang Commercial Daily”, the Red Sea crisis has also led to an increase in ship rents, and now shipping costs in China, South Korea, Japan and other regions have increased by nearly 30% to 40%.
“As more and more shipping companies choose to bypass Cape of Good Hope at the southernmost tip of Africa, shipping times were delayed by about 14 days, which ultimately disrupted shipping schedules to Asian ports. The detour lengthens the operating time of ships at sea, and invisibly affects container turnover, causing the market to face insufficient supply of empty containers.”
Furthermore, it is reported that Chinese shipping companies are fearing a shortage of empty containers, causing a rush to buy, and the market expects the “free charge” era of containers for 6 to 7 months to come to an end.
China Shipping snaps up containers to stock up
According to the news, due to concerns that the supply of empty containers will increase in the future...
The Red Sea crisis began to affect the Asian shipping market. Not only did it cause port terminals to be congested, but shipping rates also increased by nearly 30-40% last month; it is reported that following the “explosion” of the Singapore port, Klang Port in Xuzhou, Malaysia, and Tanjung Pelabas Port in Johor have also recently faced congestion!
According to information, the tense situation in the Red Sea continues to this day, and it has seriously disrupted trade to and from the Suez Canal waterway. In addition to causing shipping premiums in the Middle East region to rise, it has also caused shipping costs to Europe, the US, and the Atlantic Ocean to be drastically raised by nearly 40 to 50%.
On the Malaysian side, it is reported that local customs brokers have successively issued notices to increase shipping charges starting on the 1st of this month.
According to a source in the shipping industry revealed to “Nanyang Commercial Daily”, the Red Sea crisis has also led to an increase in ship rents, and now shipping costs in China, South Korea, Japan and other regions have increased by nearly 30% to 40%.
“As more and more shipping companies choose to bypass Cape of Good Hope at the southernmost tip of Africa, shipping times were delayed by about 14 days, which ultimately disrupted shipping schedules to Asian ports. The detour lengthens the operating time of ships at sea, and invisibly affects container turnover, causing the market to face insufficient supply of empty containers.”
Furthermore, it is reported that Chinese shipping companies are fearing a shortage of empty containers, causing a rush to buy, and the market expects the “free charge” era of containers for 6 to 7 months to come to an end.
China Shipping snaps up containers to stock up
According to the news, due to concerns that the supply of empty containers will increase in the future...
Translated
![Shipping costs have soared by 40%, can Malaysian companies benefit from this?](https://sgsnsimg.moomoo.com/sns_client_feed/103267505/20240602/1717260112877-be7df6f116.jpeg/thumb?area=104&is_public=true)
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$Nu Holdings(NU.US$ anybody here?
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