Bitcoin and its brethren appear to be healing from the damage done by the FTX collapse and the contagions that followed. The asset hit an intraday and two-month high of $18,287 during the Thursday morning Asian trading session. BTC has now gained 10% over the past fortnight and is up 4.2% over the last 24...Read More
One of the leading bitcoin mining companies – Core Scientific – mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s. The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year. Over...Read More
Cryptocurrency projects obtained 42.5% less funding in 2022 compared to what they received in 2021. Still, last year’s capital was significantly higher than the figures in 2018, 2019, and 2020. Funding in 2022 The crypto winter that hit the digital asset industry in 2022 has triggered a major market decline, an outflow of investor interest,...Read More
The consumer price index excluding food and energy (core CPI) numbers will be released by the United States government on Thursday, January 12. Although the most recent months saw a decline in the inflation rates compared to the peaks in the summer of 2022, the estimates still show a painful picture. Here Are the Expectations...Read More
Financial markets for everything, including crypto, remain on pause as we mark off the first week of 2023. At this time of global economic uncertainty, people are holding their cash close. Here’s why it’ll be increasingly important for governments to hold their Bitcoin close. Bitcoin’s price barely budged after the release of the latest jobs...Read More
With the turnover of the new year, Bitcoin price analyst predictions are out. Meanwhile, a survey of the damage from the protracted 2022 crypto winter shows 70K fewer BTC wallet addresses with $1 million USD worth of Bitcoin or more. It has now been over a year since Bitcoin’s (BTC) last all-time price high of...Read More
2022 saw many crypto-assets lose value, prompting investors to pull their money from the market. During turbulent times, inflows plummeted massively. According to the latest report by CoinShares, the digital asset inflow was recorded at $433 million, the lowest in four years. The last time figures were hovering near the current level was in 2018,...Read More
Creditors of the defunct cryptocurrency exchange Mt. Gox have received more time to select and register how they wish to receive compensation from the company. According to a document from the exchange’s trustee Nobuaki Kobayashi, the registration deadline, which was previously set as January 10, 2023, has been extended to March 10 (Japan time) after...Read More
The Grayscale Ethereum Trust (ETHE) has fallen to a record discount of -60% as fears over liquidations mount. The discount to net asset value (NAV) had been between -25% and -35% up until early November when FTX collapsed. It has since plummeted to its lowest-ever level this week. The Ethereum Trust is the firm’s second-largest,...Read More
Erik Voorhees – CEO of ShapeShaft and an outspoken proponent of bitcoin – believes it could take between six months and three years before the next crypto bull run occurs. He also predicted that the primary cryptocurrency could surge to $40,000 by the summer, representing a 140% increase compared to current valuations. ‘It Won’t be...Read More
The Consumer Price Index (CPI) releases showing the current inflation rate in the USA and the Federal Open Market Committee (FOMC) meetings which determine the rate hikes in the country, have resulted in significant price swings in the cryptocurrency market over the past several months. In the following, we take a look at the events’...Read More
Veteran Bitcoin core dev Luke Dashjr took to Twitter on January 1st to reveal that his PGP key was compromised in a hack that resulted in the loss of a significant amount of BTC. Dashjr added that he was unaware of how this happened. According to CZ, the dev lost over 200 BTC, which is...Read More
Robert Kiyosaki believes the US regulators will go hard against most alternative coins once they are classified as securities. As such, the author of several best-seller books continues to invest only in bitcoin, which the CFTC and even the SEC have said is a commodity. Kiyosaki on BTC and Altcoins The 75-years old US entrepreneur,...Read More
Publicly-traded business intelligence company MicroStrategy revealed that it sold part of its bitcoin stash on December 22 for tax purposes. Although the firm later purchased more bitcoins, the sale defied its promise of never selling any portions of its BTC stash. MicroStrategy Sold BTC for Tax Benefits As reported earlier, MicroStrategy purchased 2,395 bitcoins worth...Read More
Sitiveni Rabuka became Fiji’s 12th Prime Minister after winning the country’s elections earlier this month. The 74-year-old, commonly known by his nickname “Rambo,” is a proponent of bitcoin. Former member of Parliament of Tonga Lord Fusitu’a applauded the Rabuka for his success, supporting the idea of Fiji and Tonga embracing the primary cryptocurrency as legal...Read More
Mike Novogratz – the CEO of Galaxy Digital – praised his company’s decision to purchase the bitcoin mining facility – Helios. The firm recently won the auction to acquire another cryptocurrency entity – the blockchain cybersecurity platform GK8. ‘Long-Term Believers in BTC’ In a recent tweet, Novogratz justified the Helios’ acquisition with the fact that...Read More
The American business intelligence corporation – MicroStrategy – bought 3,205 BTC between November 1 and December 24. The company sold 704 BTC on December 22, meaning its total holdings currently stand at 132,251 BTC. The largest BTC corporate holder – MicroStrategy – continues following its bitcoin agenda purchasing more amounts of the primary cryptocurrency. It...Read More
Glassnode data shows a decrease in the 7-Day MA of bitcoin leaving centralized exchanges with only 986.237 BTC getting withdrawn in the past week or so. The declining outflow could signal that investors have restored some faith in CEXs after the gigantic collapse of FTX. Billions of dollars worth of various digital assets were withdrawn...Read More
On-chain analysis indicates that Bitcoin market volatility is at its lowest ever period. Crypto analysts have been monitoring historical BTC volatility levels, and they have bottomed out. The last time volatility tanked to near current levels was in late 2018. This was a similar bear market to current conditions, with crypto prices falling for the...Read More
Legendary investor Bill Miller continues to be bullish on Bitcoin despite the crypto asset being hit by a brutal sell-off this year. The Baltimore investing giant rose to prominence by outperforming the S&P 500 annually from 1991 to 2005. He subsequently served as the chairman and chief investment officer of Miller Value Partners, which had...Read More
Valuations in the cryptocurrency market have dropped significantly from their all-time highs, with the total market capitalization losing around $2.2 trillion – a decline of around 73%. Many altcoins, including some from the large caps, have lost over 90% of their value since their all-time highs, and industry participants are scrambling to time the bottom....Read More
The Bitcoin-focused investment group, New York Digital Investment Group (NYDIG), released a report in September examining how Bitcoin’s protocol has managed to attract such wide adoption despite its tiny developer ecosystem. Here are the highlights: The network, which launched in early January 2009, has only 40-60 monthly active developers, according to the report. This is...Read More
Twitter introduced a new cryptocurrency feature on its platform that allows users to check the current price of bitcoin (BTC) and ether (ETH). The graphics display the logo of the market tracking site Trading View and a link directing to Robinhood. It remains unknown whether those two were somehow involved with the new feature. Twitter’s...Read More
DataDash founder a veteran crypto analyst Nicholas Merten predicts more pain ahead for Bitcoin’s price based on a combination of technical indicators and macroeconomic pressures. The analyst referenced price charts for three different assets to back up his claim: BTC, ETH, and AAPL. Where Bitcoin’s Price Will Crumble In a video published on Wednesday, Merten...Read More
The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs. Currently, there are...Read More
CNBC’s “Your Money Survey” estimated that 60% of the American participants consider the risk of investing in cryptocurrencies to be high. Just 5% of the respondents believe it is entirely safe to allocate some wealth to the asset class. Crypto Looks Riskier to Americans The decline of the cryptocurrency market, as well as the various...Read More
Two exchange-traded funds (ETFs) that track US-listed cryptocurrency futures will reportedly debut on the Hong Kong stock exchange this Friday (December 16). The products will have bitcoin and ether as underlying assets and will become the first futures ETFs listed in Asia. Crypto ETFs Amid the Recent Turmoil According to a Reuters coverage, the ETFs...Read More
Popular Youtuber Nicholas Merten (DataDash) argued that investors have not rushed to “buy the dip” on worries of the inflation numbers, which clocked in lower than the expectations earlier today. Based on his research, the number of people buying and selling BTC has been dropping each week recently, which indicates that its price will likely...Read More
Ray Youssef – Chief Executive Officer of crypto platform Paxful – said customers should never keep their bitcoin holdings on centralized exchanges. Instead, they must self-custody their possession to prevent becoming victims in another crash similar to the FTX one. Don’t Trust Centralized Entities Youseff urged market participants to store their bitcoin in self-custody wallets. He...Read More
Huobi Research, an affiliate of Huobi Global, estimated in its Global Crypto Annual 2022-2023 Report that the prices of bitcoin and ether will start surging after the first quarter of 2023. Until then, they might find a bottom at $15,000 and $1,000, respectively. The company touched upon the FTX’s meltdown, describing it as “one of...Read More
