Max Keiser Points to BTC Price Growth Estimate, Justin Sun Withdraws $13.8 Million ETH From Binance, Elon Musk’s Post Sparks SHIB, XRP Armies’ Curiosity: Crypto News Digest by U.Today
Are we about to witness a massive surge in Bitcoin’s price? Recent on-chain data suggests that might be a possibility. On December 25, the Bitcoin network hit a historic milestone, recording an all-time high mining hash rate of 544 exahashes per second. This remarkable spike aligns with Bitcoin’s impressive price trajectory, which has surged by 163% since the beginning of the year, signaling a significant increase in hash rates. The renowned Bitcoin evangelist, Max Keiser, took to social media, hinting at an implied hash-adjusted price for BTC that could surpass $400,000. While this speculation has triggered excitement about potential price models, it has also put pressure on miners dealing with a sharp decline in profitability. The simultaneous spike in hash rates and BTC price presents a paradox for the mining community, intensifying their efforts to secure the next block and leading to heightened operational costs.
Tron founder Justin Sun has raised eyebrows with his recent activity in the crypto space. On December 26, Sun made a substantial withdrawal of 6,166 ETH worth approximately $13.8 million from Binance. This move, labeled as “suspicious Justin Sun related,” has sparked concerns and speculation within the crypto community. This withdrawal comes on the heels of Sun’s earlier withdrawals of SHIB tokens from Binance, further adding to the intrigue surrounding his crypto activities. The community is now closely monitoring Sun’s actions and statements for clarity on the reasons behind these significant transactions.
Elon Musk has once again left the crypto world in a state of curiosity with his cryptic social media post. The post, consisting of “1” and “8” symbols forming the logo of a popular platform, has received over 14,000 comments from various crypto communities. Despite the efforts of XRP, SHIB, and other communities to decode Musk’s message, the centibillionaire seems uninterested in altcoins. This enigmatic post has ignited enthusiasm and speculation within the crypto space, with prominent figures and communities eagerly trying to decipher its hidden meaning.
