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Bitcoin Price Forecast as Crypto Exchanges Announce 1,200 Job Openings – Will BTC Rise Further?

AltcoinUpdates Staff

Published

8 months ago

on

Bitcoin Price Prediction

Last updated: May 26, 2024 05:15 EDT | 3 minutes reading

Bitcoin Price PredictionBitcoin Price Prediction

Bitcoin (BTC/USD) is currently trading at $69,088, reflecting a slight decline of 0.33%, signaling a bearish forecast for the price of Bitcoin.

Meanwhile, the cryptocurrency industry is experiencing a hiring surge, with more than 1,200 job openings at major exchanges like Binance, Coinbase, and OKX. This hiring spree highlights the industry’s optimism despite Bitcoin’s recent price fluctuations.

Crypto Exchanges on a Hiring Spree: Over 1,200 Job Openings

One of the largest cryptocurrency exchanges, led by Binance, Coinbase and OKX, has more than 1,200 job openings. This surge in hiring reflects industry optimism in anticipation of Bitcoin surpassing its March record, the launch of Ethereum ETFs in sight, and the rise in venture capital investments this year.

Sam Wellalage, founder of WorkInCrypto.Global noted the unprecedented bull market and stated that crypto companies are eager to capitalize on the growth.

“We’re in a bull market like never before – there’s going to be a lot of work for us from a recruiting standpoint,” he told DL News.

This move follows two years of job cuts, with 13,500 crypto workers laid off since April 2022.

Hiring Leading Cryptocurrency Exchanges:

  • Binance: Filling 460 roles, emphasizing compliance, user focus and innovation.
  • Coin base: Lists 224 roles, focusing on legal, compliance, finance, and accounting.
  • Bybit: Despite regulatory setbacks, hiring for 69 positions in sales, marketing and engineering.
  • OKX: Expanding to 414 positions, improving finance, HR and fraud risk departments.
  • Cripto.com: With 335 vacancies, hiring strategically to support its growing market share.
  • Bitget: I plan to fill 106 roles, especially in marketing and web3 development.
  • Bit stamp: Six vacancies, including legal consultant and compliance director.
  • KuCoin: Nine positions, including senior compliance roles in Türkiye and France.
  • Portão.io: Despite regulatory challenges, hiring for 37 positions.
  • HTX: Seven vacancies, focusing on operations in Russia and compliance in Hong Kong.

Impact on Bitcoin: The increase in hiring best crypto exchanges indicates strong industry growth and investor confidence, which could positively impact Bitcoin prices.

As exchanges expand their teams to support increased market activity, Bitcoin could see increased demand and potential price appreciation.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is currently trading at $69,088, reflecting a slight decline of 0.33%, signaling a bearish Bitcoin Price Prediction. The green line, which represents the pivot point at $68,747, is a crucial level in determining the next price movement.

Immediate resistance is at $70,000, followed by $71,500 and $73,000. On the downside, immediate support lies at $68,500, with additional support levels at $67,000 and $65,900.

The Relative Strength Index (RSI) is at 56.26, indicating neutral momentum. The 50-day exponential moving average (EMA) stands at $68,747, suggesting this level provides significant support.

Bitcoin Price PredictionBitcoin Price Prediction

Given the current price action around the pivot point, traders should watch for a break above $70,000 for a bullish continuation, targeting $71,500 and $73,000.

Conversely, a drop below $68,500 could lead to further declines to $67,000 and $65,900. The RSI and EMA indicate a neutral trend, so careful monitoring of these levels for possible trading opportunities is advised.

Last chance to invest in Dogeverse – over $15 million raised

Dogeverse, a fast-growing meme coin network, spans multiple blockchains including Ethereum, BNB Smart Chain, Polygon, and soon Solana, Base, and Avalanche. The project has made significant waves in the world of cryptocurrencies.

Having raised over $15 million, surpassing its initial goal of just under $13 million, Dogeverse is currently priced at $0.00031 and is expected to increase in price in less than a day.

This expansion aims to combine Doge’s popular appeal with advanced blockchain features, offering greater utility and wider adoption. With launch imminent, this is your last opportunity to invest in Dogeverse at its current rate.

The Dogeverse pre-sale is coming to an end, with just 8 days left. The project successfully raised more than US$15 million, exceeding its initial goal. The current price of Dogeverse is $0.00031 per token.

For the latest updates and community engagement, follow Dogeverse on Twitter It is Telegram.



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AltcoinUpdates Staff

We are the editorial team of Altcoin Updates, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Altcoin Updates, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

Bitcoin (BTC), Stocks Bleed as China’s Surprise Rate Cut Signals Panic, Treasury Yield Curve Steepens

AltcoinUpdates Staff

Published

6 months ago

on

25 July, 2024

By

Bitcoin (BTC), Stocks Bleed as China’s Surprise Rate Cut Signals Panic, Treasury Yield Curve Steepens

Risk assets fell on Thursday as China’s second rate cut in a week raised concerns of instability in the world’s second-largest economy.

Bitcoin (BTC)the leading cryptocurrency by market cap, is down nearly 2% since midnight UTC to around $64,000 and ether (ETH) fell more than 5%, dragging the broader altcoin market lower. The CoinDesk 20 Index (CD20), a measure of the broader cryptocurrency market, lost 4.6% in 24 hours.

In equity markets, Germany’s DAX, France’s CAC and the euro zone’s Euro Stoxx 50 all fell more than 1.5%, and futures linked to the tech-heavy Nasdaq 100 were down slightly after the index’s 3% drop on Wednesday, according to the data source. Investing.com.

On Thursday morning, the People’s Bank of China (PBoC) announced a surprise, cut outside the schedule in its one-year medium-term lending rate to 2.3% from 2.5%, injecting 200 billion yuan ($27.5 billion) of liquidity into the market. That is the biggest reduction since 2020.

The movement, together with similar reductions in other lending rates earlier this week shows the urgency among policymakers to sustain growth after their recent third plenary offered little hope of a boost. Data released earlier this month showed China’s economy expanded 4.7% in the second quarter at an annualized pace, much weaker than the 5.1% estimated and slower than the 5.3% in the first quarter.

“Equity futures are flat after yesterday’s bloody session that shook sentiment across asset classes,” Ilan Solot, senior global strategist at Marex Solutions, said in a note shared with CoinDesk. “The PBoC’s decision to cut rates in a surprise move has only added to the sense of panic.” Marex Solutions, a division of global financial platform Marex, specializes in creating and distributing custom derivatives products and issuing structured products tied to cryptocurrencies.

Solot noted the continued “steepening of the US Treasury yield curve” as a threat to risk assets including cryptocurrencies, echoing CoinDesk Reports since the beginning of this month.

The yield curve steepens when the difference between longer-duration and shorter-duration bond yields widens. This month, the spread between 10-year and two-year Treasury yields widened by 20 basis points to -0.12 basis points (bps), mainly due to stickier 10-year yields.

“For me, the biggest concern is the shape of the US yield curve, which continues to steepen. The 2- and 10-year curve is not only -12 bps inverted, compared to -50 bps last month. The recent moves have been led by the rise in back-end [10y] yields and lower-than-expected decline in yields,” Solot said.

That’s a sign that markets expect the Fed to cut rates but see tighter inflation and expansionary fiscal policy as growing risks, Solot said.

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Bitcoin

How systematic approaches reduce investor risk

AltcoinUpdates Staff

Published

6 months ago

on

25 July, 2024

By

How systematic approaches reduce investor risk

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

Low liquidity, regulatory uncertainty and speculative behavior contribute to inefficiency in crypto markets. But systematic approaches, including momentum indices, can reduce risks for investors, says Gregory Mall, head of investment solutions at AMINA Bank.

July 24, 2024, 5:30 p.m.

Updated July 24, 2024, 5:35 p.m.

(Benjamin Cheng/Unsplash)

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Bitcoin

India to Release Crypto Policy Position by September After Consultations with Stakeholders: Report

AltcoinUpdates Staff

Published

6 months ago

on

25 July, 2024

By

Amitoj Singh

“The policy position is how one consults with relevant stakeholders, so it’s to go out in public and say here’s a discussion paper, these are the issues and then stakeholders will give their views,” said Seth, who is the Secretary for Economic Affairs. “A cross-ministerial group is currently looking at a broader policy on cryptocurrencies. We hope to release the discussion paper before September.”

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Bitcoin

Bitcoin (BTC), Ether (ETH) slide as risk aversion spreads to crypto markets

AltcoinUpdates Staff

Published

6 months ago

on

25 July, 2024

By

Bitcoin (BTC), Ether (ETH) slide as risk aversion spreads to crypto markets

Ether, the second-largest token, fueled a slide in digital assets after a stock rout spread unease across global markets.

Ether fell about 6%, the most in three weeks, and was trading at $3,188 as of 6:45 a.m. Thursday in London. Market leader Bitcoin fell about 3% to $64,260.

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