Bitcoin (BTC)

With energy sources getting expensive rapidly, the environmental impact of validating PoW crypto-assets is being studied intensely. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper, published on the order of President Joe Biden, essentially seeks to ban Bitcoin, which is based on Proof-of-Work (PoW) consensus mechanism,...

The past seven days were action-packed, and it’s safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra’s ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let’s unpack. Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K –...

Bitcoin is finally showing signs of strength and increased by a considerable 9%. This follows a consolidation phase. The $18K level supported the price once again, proving its sentimental power. Technical Analysis By: Shayan The Daily Chart The $18K-$19K support appears to be the most crucial level for the bulls to hold. If they fail to do so, the market could fall toward $15K. Bitcoin’s price has been supported for the fourth time and is now aiming for the 50-day MA at...

A Berkeley-based startup known as Vespene Energy announced that it’s going to use the methane gas emitted by landfills to power bitcoin mining rigs, thus adding more units to the blockchain through greener and more eco-friendly means. Vespene Has Big Bitcoin Plans The world of bitcoin and crypto mining has taken a lot of flak in recent years. There are many reports that digital currency mining uses more energy than several countries, while others claim it’s likely to...

Bitcoin cash price started a fresh increase from the $110 zone against the US Dollar. The price is now trading above the $120 zone and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $125 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $135 and $135 to continue higher in the near term. Bitcoin cash price is climbing above $130 against the US Dollar, similar to bitcoin....

The Toronto-based crypto exchange Coinberry has reportedly lost around $3 million in Bitcoin due to a software glitch in 2020. It was during a software upgrade that erroneously enabled users to purchase BTC with Canadian dollars that had yet to be properly transferred to their accounts. That loss of about 120 Bitcoins was not known until the recent lawsuit filed by the platform in Brampton, Ont., west of Toronto. According to the Finacial Post report, the bug was with the...

It was announced not too long ago that investment giant BlackRock had partnered with leading digital currency exchange Coinbase to give its clients the opportunity to invest in crypto assets. Now, it looks like the company is taking its digital currency agenda one step further. BlackRock Will Offer BTC Spot Trading to Institutional Clients BlackRock has announced the launch of a new private trust for institutions so they can garner spot BTC exposure. This is a big deal...

With the Merge taking place a week from now, ETH remains the market leader and outperformed Bitcoin. However, it is clear from the technical chart that there are significant obstacles standing in the path forward. Technical Analysis By Grizzly The Daily Chart Ethereum is moving within a descending channel (in blue) on the daily chart. This resistance line has prevented further growth since registering its all-time high. When the price last hit the channel’s top in August, it...

Is bitcoin due for another bull run in the coming weeks? The world’s number one digital currency could add a few thousand dollars to its price soon according to crypto analyst Marcus Sotiriou, who stated in a recent interview that the asset could find itself trading for about $26,000. Marcus Sotiriou Believes BTC May Experience a Slight Comeback While this number is nothing to get too excited over, it will likely be a nice breath of fresh air for many clients and traders...

In an attempt to fight the galloping inflation, the European Central Bank, similar to its counterparty overseas, raised the key interest rates by 75 basis points. Unlike the Fed’s interest rate hikes, though, this one has had no real impact on BTC’s price, at least for now. With the skyrocketing inflation across the Old Continent, the ECB was a little slow to react at first and failed to follow the Fed’s example for a while. However, the central banking authority changed its...