Convergence

Pacific

Bitcoin

Divergence

<ul>
 <li>CEO Cory Klippsten emphasizes commitment to core business.</li>
 <li>Bitcoin price is currently $55,881, with a 16.04% weekly decline.</li>
</ul>
Swan Bitcoin has announced the cancellation of the highly anticipated Pacific Bitcoin conference scheduled for October. This decision follows a strategic pivot and a recent staff&nbsp;<a href="https://x.com/coryklippsten/status/1815429462210539706" target="_blank" rel="noopener noreferrer nofollow">reduction</a> at the company. The focus now shifts towards bolstering Swan’s core business operations.
The company recently downsized its staff, a move aimed at streamlining operations and refocusing on its primary business objectives. This downsizing has directly impacted the decision to cancel the Pacific Bitcoin conference.
<a href="https://x.com/coryklippsten/status/1820535724761895373" target="_blank" rel="noopener noreferrer nofollow">Cory Klippsten</a>, CEO of Swan Bitcoin, took the time to address the cancellation on social media. He expressed the company’s commitment to its core business, stating, “After going through a staff reduction last month, it just doesn’t feel like the right time for a festival.”
Swan Bitcoin has assured all ticket holders that the refund process is already underway. To maintain goodwill and <a href="https://thenewscrypto.com/why-does-the-indian-community-feel-neglected-by-government/" target="_blank" rel="noopener noreferrer nofollow">community </a>engagement, the company is offering a complimentary invitation to a smaller, one-day event on October 17.&nbsp;
It’s worth noting that the Pacific Bitcoin conference has previously hosted some memorable moments. One such instance was the impromptu appearance of a prominent Bitcoin advocate Andreas Antonopoulos who engaged in a spirited debate about the future of digital currencies. These moments have made the conference a beloved event among enthusiasts.
<h3 class="wp-block-heading" id="h-bitcoin-price-weekly-overview">Bitcoin Price Weekly Overview</h3>
As of today, Bitcoin’s <a href="https://thenewscrypto.com/is-bitcoin-heading-towards-a-drop-below-40k/" target="_blank" rel="noopener noreferrer nofollow">price</a> is $55,881, marking a 16.04% decline over the past week as per data from CoinMarketCap. Despite the weekly drop, the market cap has risen by 7.33%, reaching approximately $1.10 trillion. The 24-hour trading volume stands at $87.51 billion, showing a 46.39% increase in trading activity. The Relative Strength Index (RSI) is currently at 70, indicating that Bitcoin is approaching overbought conditions.&nbsp;
The Moving Average Convergence Divergence (MACD) shows bullish momentum with a widening gap between the MACD line and the signal line. The support level is observed at $52,000, with resistance around the $56,000 mark, suggesting potential consolidation before a further breakout as per the data from the Trading View.
Highlighted News Article Today <a href="https://thenewscrypto.com/is-bitcoin-aiming-for-price-recovery-amid-mounting-selloffs/" target="_blank" rel="noopener noreferrer nofollow">Is Bitcoin Aiming For Price Recovery Amid Mounting SellOffs?</a>

Swan Bitcoin Scraps Pacific Bitcoin Conference After Downsizing

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