While the Federal Reserve disclosed another possible interest rate hike, one of the well-known analytic firms has come up with its study on Bitcoin (BTC). Firm, Glassnode in its latest newsletter Jan Happel and Yann Allemann, its co-founders are of the opinion that Bitcoin’s price trend below $20,000 is all due to immense pressure faced...Read More
The IRS is going after crypto owners who fail to report gains on their taxes. The US tax authority got a court order Thursday enjoining an NYC bank to turn over records on potential crypto tax dodgers. While crypto markets appear in the throes of “winter” against buys made last November to date, half of...Read More
The price of Bitcoin has dropped by 4.44% over the previous week, and it is now worth $18,992.77 after rising by 0.02% over the past hour. Bitcoin saw a severe bear market in the latter part of August as the bears seized power. The bears were driving prices below $19003.72 in the first week of...Read More
A Guatemalan circular Bitcoin economy known as “Bitcoin Lake” is leveraging Bitcoin ASICs to clean the nearby Lake Atitlán while generating income for the community. As Bitcoin Lake Founder Patrick Melder explained, the “Kaboom” mining project is repurposing used cooking oil to help mine Bitcoin, rather than pollute the local environment. Mining Helping the Environment?...Read More
The Brazilian authorities reportedly ordered Glaidson Acácio dos Santos (known as “Bitcoin Pharaoh”) to deposit 19 billion BRL (nearly $3.7 billion) in court. This sum will be transferred to more than 122,000 investors and creditors who have become victims of his fraudulent cryptocurrency scheme. Last year, the Brazilian Federal police organized a special mission called...Read More
Bitcoin price is currently trading at $19,400.89 with a slight rise of nearly 4% in the past 24 hours. Rekt Capital, a well-known cryptocurrency expert, forecasts that in the worst-case scenario, the price of a bitcoin might fall below $11,500, below the previous low of $13,900. The historical evidence suggests that the price of bitcoin...Read More
On Monday, most cryptocurrencies continued to experience losses, as Bitcoin started to fall once more against the US dollar below the $20,000 support level. BTC just dropped below $19,000 and is still at risk of falling as low as $18,000. The news of Ethereum falling below $1,300 may be more important than the decline in...Read More
Robert Kiyosaki – author of the famous personal-finance book “Rich Dad Poor Dad” – has come out with another enthusiastic statement in support of cryptocurrency. The author listed 7 reasons why his followers should invest in Bitcoin and precious metals – centered around the United States government’s current financial position. How the U.S. Dollar Dies...Read More
Nicholas Merten – a veteran cryptocurrency analyst and founder of DataDash – has called for Bitcoin to sink to $14,000 following its plunge below $19,000 over the weekend. The analyst cited both technical and macroeconomic factors, including an indicator that he calls “absolutely damning” for Bitcoin’s price. Deeper Waters for Bitcoin? In a video published...Read More
On the nervous global backdrop, the much anticipated “Merge” eventually transpired as a sell-the-news type of event. Cryptocurrencies suffered fresh declines in the wee hours of Monday morning. The global market cap fell to $909 billion, with a trading volume of $79.54 billion over the past 24 hours. Major assets such as Bitcoin and Ethereum...Read More
The United States Treasury Department added five cryptocurrency addresses to its sanctions blacklist. All wallets are connected to the Russian neo-Nazi paramilitary group – Task Force Rusich – that has participated in the Ukraine war. Prior to that, the Department sanctioned the Ethereum-based cryptocurrency mixer – Tornado Cash – and Blender.io (a software tied to...Read More
The Ethereum Merge has done no good for the crypto bulls as the stocks continue to trend low and add to already intensified market pressure. On September 16, as the most recent cross-crypto slump grew stronger, Bitcoin (BTC) sought to breach local lows. At press time, BTC/USD reached $19,600 with support from buyers to avoid...Read More
Greenpeace USA – an environmental advocacy group – is calling out Bitcoin for having what it calls an “outdated and efficient” code system. In a tweet on Thursday, the organization doubled down on claims that Bitcoin’s proof of work mechanism is contributing to the climate crisis. Instead, it suggested that the code be swapped out...Read More
A week ago, the markets were playing out well for Bitcoin as it had seen some upward momentum and had reclaimed the $22,000 area. In just seven days, the currency registered 7% gains. However, the flagship currency couldn’t hold on to the rally for long and it started its downward journey with the release of...Read More
The cybercrime team of the Central Netherlands police arrested a 39-year-old resident of Veenendaal on suspicion of laundering tens of millions of euros via stolen cryptocurrencies. The police also suggested that the individual amassed his digital asset holdings through fake updates from crypto wallet Electrum. The Latest Crypto Scam in the Netherlands The Netherlands’ police...Read More
The US CPI numbers have shown the Federal Reserve’s intention to raise interest rates further in order to reduce inflationary pressures brought on the increased government spending during the epidemic in the previous two years. There is outflow of funds in Bitcoin and the rest of the cryptocurrency market. Since then, more than half of...Read More
The Central Bank of Bahrain (CBB) is set to test a Bitcoin payment processing and payout solution in collaboration with OpenNode. According to the official press release, the BTC payment processor plans to provide the infrastructure for the solution. The Regulatory Sandbox was first launched in 2017, following which the CBB authorized OpenNode to participate...Read More
MicroStrategy’s Executive Chairman Michael Saylor has published a letter clearing his thoughts on Bitcoin mining and its impact on the environment and energy systems. He argued that Bitcoin mining is, in reality, far less of an environmental issue than it is often made out to be. Rather, he believes it wouldn’t be on the public...Read More
Paulo Ardoino – Chief Technology Officer (CTO) at Bitfinex and Tether – recently commented on Ether’s usefulness as money, post-merge. The CTO believes the cryptocurrency cannot compete with Bitcoin as a form of money, due to design choices that have prioritized other objectives. Bitcoin is Money; Ether is Not As the CTO told Crowfund Insider...Read More
The crippling impact of May and June’s crash on Bitcoin miners still persists. New data revealed that August recorded the fourth consecutive month that has seen negative miner net flows. Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when...Read More
Bitcoin price is slowly gaining its dominance as the asset has been holding the lower support finely from the past few hours. The bulls appear to be well-positioned and hence the price may be on its way to reaching the immediate resistance just below $23,000. However, the volume has been bullish for the past week...Read More
The asset management firm Fidelity is reportedly weighing plans to bring Bitcoin trading to individual investors on its brokerage platform. If true, this would give 34.4 million retail customers at Fidelity access to the largest cryptocurrency by market cap. Fidelity’s Next Bitcoin Foray The claim is according to people familiar with the matter who were...Read More
The past week has seen significant gains for both Bitcoin and Ethereum, with regulatory news and ETH network update playing major roles. Over the last seven days, BTC has increased by more than 12%. Since then, the top cryptocurrency has recovered the $22,000 level as of publication, a level not seen since August. It’s interesting...Read More
When Bitcoin’s dominance decreases, it means that altcoins are performing relatively well and that the total cryptocurrency market capitalization is increasing. This usually leads to an increase in BTC price as well, since more money is flowing into the cryptocurrency market as a whole. As of now, Bitcoin is trading near the $22K price range,...Read More
This week is shaping up to be one of the most eventful in the cryptocurrency market in a while. With how event-driven the industry has been for the past months, it’s perhaps safe to assume that volatility is likely to expand. With this said, let’s have a look at three of the major events that...Read More
The Las Vegas-based cryptocurrency miner – Marathon Digital Holdings – steadily improved its bitcoin production levels in August, mining 184 BTC. It also successfully energized 25,000 of its previously installed miners. The process increased the hash rate to nearly 3.2 exahashes per second. Over the next three months, the company expects to activate 65,000 additional...Read More
The first iteration of The Bitcoin Academy – Jack Dorsey and Jay Z’ (Shawn Carters) ‘s Bitcoin education program – has come to a close. After 12 weeks, the initiative ended by airdropping $1000 in Bitcoin to all participants who opted to receive a grant. Jack and Jay Z’s Parting Gift As reported by Business...Read More
The crypto markets displayed diverse price actions ever since the beginning of 2022 & displayed a contrasting behavior to what was being predicted. Considering the latest price action, the Bitcoin (BTC) price marked the very much-needed 10% jump during the previous trading day. While the market sentiments are coiling up, one of the well-known analysts...Read More
The White House Office of Science and Technology Policy (OSTP) has released a report examining the connection between distributed ledger technologies (DLT) and climate change. The office determined that crypto’s relationship with the environment is a mixed bag. While acknowledging the positive impact that mining can have on grid stability and renewable development, it can...Read More
The largest corporate bitcoin holder has filed a new filing with the US Securities and Exchange Commission that will essentially allow it to purchase more BTC for up to $500 million. The news comes as the cryptocurrency surged past the $20,000 level and jumped to a new two-week high. The filing with the securities regulator...Read More
