The Bitcoin rally that began at the start of the year has made miners a happy lot. According to investment company Stifel, most Bitcoin miners are expected to post profits in the first quarter of this year. BTC rally comes at a time when power prices are finally reducing, essentially helping miners sustain their businesses….
On Tuesday afternoon, Bitcoin crossed the $26,000 mark for the first since last Summer following the latest CPI report that indicated inflation in the United States was still alive. The Bureau of Labor Statistics reported Tuesday that the Consumer Price Index (CPI) increased 6.5% in the last 12 months. The report aligned with the expectations…
Financial powerhouse JPMorgan, which just executed its 1st cross-border financial operation using the technology that has grown so popular in the cryptocurrency field, is giving the blockchain sector a significant boost. JPMorgan is strongly boosting DeFi One of the major monetary institutions in the world entered the field of autonomous banking as a result of the…
The atmosphere of general distrust is to be expected due to the sheer scale of the FTX collapse. It was a piece of very bad PR for the whole crypto industry, but many crypto exchanges are doing well. While we have seen many bankruptcies this year as the crypto market plunged down by 70% since…
Bitcoin value testing levels of $17,000 are seen, as analysts’ attention turns to CPI and FOMC Accelerator. The current support price As the price of Bitcoin stays stable at $17,000, it is beginning to respond to fresh-cut US large points. With the focus on the “Big Trigger” in the Consumer Price Index, the BTC/USD pair…
Genesis Digital, a cryptocurrency miner, has received a more than one-billion-dollars investment from Alameda Research. Before cryptocurrency prices crashed, SBF inquired about the huge funding of Genesis. The largest venture investment made by FTX partner company Alameda Research was in the cryptocurrency production corporation Genesis, which was also the reason for the bankruptcy of the…
It has been over two weeks since the FTX exchange collapsed and almost two weeks since it filed for bankruptcy. Just when many thought that the worst outcome passed, the data revealed by the bankrupt cryptocurrency exchange dropped yet another bomb on the crypto industry. This time, it is not known what the outcome would…
Glassnode, a major on-chain data analytics firm has just shared a report that involves the movement of Bitcoin, which is quite surprising. Migration Recorded for Bitcoin (BTC) Bitcoin seems to have hit a new record in terms of movements that have caused the biggest net decline on exchanges. The aggregate BTC balances have experienced a…
It has been almost an entire week since the FTX fiasco took place. Unfortunately, the impact of the FTX crash is still being felt throughout the cryptocurrency. There does not seem to be any end to the constant market downtrend that the FTX crash has triggered. The recent crash has prompted investors to move their…
On Friday, Bitcoin’s (BTC) trading price recorded a surge as it rebounded from a major decline. Just a few days back, Bitcoin had suffered from a major decline in value mainly triggered by the crash of FTX. From Decline to Rebound The Thursday trading session was a shocker for Bitcoin investors. They witnessed a sudden…
The National Power Administration in Paraguay has warned that the stability of the power system in the country could suffer due to the growth of illegal bitcoin mining operations. The country is currently experiencing a boom in bitcoin mining, but this has taken a toll on its power system. This is due to the fact…
The crypto market has been struggling since the start of the year, and investors are really looking for a win. While most of the investors who are still in the crypto market are waiting for the long haul, the real challenge is not knowing how long they will have to wait. In a matter of…
A major mobile phone application known for processing payments has made a major announcement. The application has announced that it has adopted the Lightning Network for the fastest transactions. CashApp’s Major Announcement On October 25, the officials at CashApp announced that they had tapped a partner with Bitcoin Lightning to offer a new utility to…
The Public Opinion University Institute recently completed a poll, which discovered that people in El Salvador are still not too keen on the idea of using Bitcoin as a legal tender. The results of the poll showed that almost two-thirds of the population in El Salvador does not have a positive opinion of Bitcoin. It…
Kevin O’Leary has recently made a statement in regard to the Stablecoin Transparency Act (STA) that could prove promising for Bitcoin (BTC). Kevin O’Leary’s Statement Kevin O’Leary, who is O’Shares Investment Advisers’ chairman and the star of the reality show “Shark Tank”, has made a supporting statement for Bitcoin. He talked about Bitcoin (BTC) while…
The crypto market has been seriously struggling as of late, similar to most of the other financial markets that are currently running. Not only prices for specific commodities and cryptocurrencies dropping exponentially, but investor sentiment is also worsening with time. Therefore, the market will continue to struggle until it is able to change how investors…
On October 4, the trading price of Bitcoin was able to take a trip over the $20,000 barrier. However, the traders were expecting resistance as the price of BTC would go over the $20k mark. Low Value of the Dollar Helped Bitcoin According to the latest data, the trading price of the BTC/USD has recorded…
The trading value of the Binance Coin (BNB) has been oscillating between a particular range. In recent days it has become clear that the bulls and the bears have strong sentiments supporting their sides. Therefore, both sites may attempt to push and pull BNB’s price to their side to form a strong trend. BNB is…
Local media reported that the South Korean government has seized crypto assets valued at approximately $184 million in tax arrears in the last two years. The authorities in Seoul had first begun their confiscation of digital assets from those accused of evading taxes back in 2021. Tax evasion Reports on Thursday revealed that South Koreans…
The US district judge has recently authorized the Internal Revenue Service (IRS) to make its move against a certain group of cryptocurrency investors. The particular group in question are the tax evaders who generate their revenues from cryptocurrencies. The Reason behind the Decision A significant rise has been witnessed in the adoption of cryptocurrencies in…
In his testimony before the lawmaker of the United States, Jamie Dimon, the chief executive of JPMorgan Chase, called himself a major skeptic where cryptocurrencies are concerned. The CEO said that cryptocurrencies, such as bitcoin, were nothing more than decentralized Ponzi schemes. On Wednesday, the House Financial Services Committee had held an oversight hearing in…
On Wednesday, Normura Holdings made an announcement on the launch of Laser Digital Holdings, which is a venture capital unit focused on the cryptocurrency market. Normura Holdings is Normura Group’s principal member and is a Japanese financial holding firm. Its move comes after several financial giants made a move into the crypto space this year….
Spanish crypto exchange Eurocoinpay has made a deal for offering one of the first debit cards based on cryptocurrency in Spain. Customers of Eurocoinpay already have access to the card in question and now users will be able to take advantage of it by shopping in more than 90 million locations in the European Union…
The results of a new survey conducted by Harris Poll show that most American crypto investors believe that they possess the tools necessary for becoming billionaires down the road. The survey had been focused on how Americans view billionaires and it showed that Gen Zers and millennials have a higher sentiment in this regard, as…
Global bitcoin mining firm, Bitfarms has launched its operations in the mining megafarm that it set up in Argentina. Launched on September 16th, the new mining facility is now generating about 10 ]MWof mining power in the initial phase, but it expects to expand and become fully operational in the next year. According to the…
