Bitcoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-climbs-despite-us-market-struggles/" data-wpel-link="internal">Bitcoin Price Climbs Despite US Market Struggles</a> 
Bitcoin price climbed close to its daily peak as US markets began to struggle because it had valid reasons. It has been falling for about 2 hours and again has valid reasons. In the short term, the decline may deepen a bit more, but it is difficult to say for sure how much <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">good news</a> will balance this recent negative development. 
<h2 style="text-align: justify" id="bitcoin-may-fall-further">Bitcoin May Fall Further</h2> 
According to a recent Bloomberg report, the bankrupt crypto lender Genesis is now starting to pay its creditors. The 2021 <a href="https://en.coin-turk.com/stratis-achieves-significant-milestone-with-spanish-vasp-license/" data-wpel-link="internal">altcoin</a> surge was largely driven by names like 3AC and SBF. They borrowed from Genesis to make leveraged large trades and invested in high-risk crypto companies, which caused prices to rise. 
However, as the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> ended and declines accelerated, profits turned into losses. Then, Genesis’s indebted customers went bankrupt. As a result, Genesis couldn’t pay companies like Gemini, from which it had raised money to lend. Eventually, it went bankrupt. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-376630 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/Genesis-BTC-Dususu.png" alt="" width="1197" height="538"> 
Today, it moved $1.5 billion worth of crypto on the network and according to the Bloomberg report, it has started paying creditors. So, a mini Mt. Gox story began even before the large Mt. Gox returns were fully completed. Therefore, a decline may occur in the coming hours despite the many positive developments we have reported in the last few hours. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-climbs-despite-us-market-struggles/" data-wpel-link="internal">Bitcoin Price Climbs Despite US Market Struggles</a></h5>
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Bitcoin Price Climbs Despite US Market Struggles

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