Bitcoin (BTC)

Bitcoin is once again back below $20,000 after briefly surging above the price level last week.  The primary cryptocurrency traded at roughly $20,200 at 17:30 UST on Wednesday, before quickly declining to about $19,600 an hour later. It trades for $19,957 at the time of writing, unable to break back above $20k. According to CoinGlass, about $51 million have been wiped from the crypto markets in liquidations over the past 4 hours, adding to $185 million over the past 24...

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 radar if not for the extensive lobbying efforts of competing interests within the crypto industry.  Michael Saylor Defends Mining Upon publishing the...

Riot Blockchain, Inc. is a company that both hosts and mines bitcoin units. In a recent announcement, the company said it received more than $9 million from the Texas state power grid manager to cut back on its mining efforts and give the state a break as it reached peak energy demand from residents and businesses alike. Riot Blockchain Is Willing to Compromise Riot Blockchain is one of the largest, most well-known crypto mining facilities in the world. In a recent...

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 on Tuesday, Ethereum is “stuck between claims of being a form of money and claims of being a platform.” As formulated in its...

With the long-awaited Ethereum Merge expected to go live in less than 24 hours, Joseph Lubin, CEO of the blockchain software technology company ConsenSys, has shared his thoughts on it, noting that the transition is the third-most significant event in the crypto industry.  According to Lubin in a recent interview with Bloomberg TV, the first event was the birth of Bitcoin in 2009, while the second was the creation of Ethereum in 2015. “In terms of impact, in the history of...

The Fed has done a sudden reversal of the mind and is calling for Wall Street to put systems in place that will allow banks and other standard financial institutions to better deal with the growing crypto space. The Fed Thinks Crypto Should Be Studied The Fed appears to have been hellbent as of late on bringing the crypto space to its knees. The organization has done nothing but hike interest rates over the past few months as a means of trying to lower inflation....

The recent Bitcoin recovery had the majority of market participants hoping for a new bull market. However, after yesterday’s USA Consumer Price Index announcement, it seems like it was all another bull trap, and the market can still drop deeper. Technical Analysis By: Edris The Daily Chart As seen on the daily Chart, the price had rebounded from the $18K level and was moving towards the $24K resistance level. However, the 50-day and 100-day moving average lines, accompanied...

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Solana price started a fresh decline from the $39.00 resistance zone against the US Dollar. The price is now trading below $35 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $35.90 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair could extend losses if there is a clear move below the $32.80 support zone. Solana price is trading below $35 against the US Dollar, similar to bitcoin....

Bitcoin price started a fresh decline below the $22,000 zone against the US Dollar. The price is now trading below $21,000 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $20,800 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair remains at a risk of more losses below the $20,000 level in the near term. Bitcoin price is struggling below $21,000 against the US Dollar. BTC might extend...