Tag Archives: Bitcoin Bear Market

The host of CNBC’s Mad Money show – Jim Cramer – said cryptocurrency investors still have time to sell their “awful” positions. His previous advice has often been inaccurate, prompting numerous participants to anticipate a market surge after the latest comments. Cramer’s on the Spotlight Again During his most recent show, Mad Money’s host urged investors to cash out their cryptocurrency at all costs. He thinks “it’s never too late” to exit the market, hinting the crypto...

Eric Robertsen – Global Head of Research at Standard Chartered – thinks bitcoin could tumble to $5,000 next year as more cryptocurrency firms might experience liquidity issues. He believes 2023 could be prosperous for gold, envisioning the yellow metal’s price to surge to $2,250 per ounce. Next Year’s Potential Trends As reported by CNBC, Robertson argued that 2023 could bring more pain for the cryptocurrency market, specifically bitcoin. He predicted the asset’s price could...

Blockchain-based capital marketplace Maple Finance has cut ties with digital asset hedge fund Orthogonal Trading on allegations that the latter misrepresented its financial statements.  Maple said assets within the Orthogonal credit pool remain secure and is expected to close without issue in Q1 2023. The Truth About Orthogonal In a blog post on Monday, M11 Credit claimed that Orthogonal misrepresented its financial position to the lending firm over the past four weeks....

With bitcoin firmly standing below $20,000, it’s visible that the bear market still remains in the spotlight, which harms native businesses. Miners and exchanges have been hit the hardest. Amid numerous trading platforms laying off staff members, the latest to join this trend is Bybit. Bybit to Cut Off 30% of Staff The overall cryptocurrency landscape is significantly different than what it was a year ago when prices were riding high, and there were new ATHs charted...

Kraken is the latest cryptocurrency exchange that’s been forced to downsize in the face of macroeconomic headwinds and a devastating crypto bear market.  According to an announcement from the firm on Wednesday, leadership has been forced to slash 30% of its workforce, amounting to 1100 workers.  The reduction in size takes Kraken’s headcount back to where it was 12 months ago. The firm said it was forced to grow fast over the past few years to keep up with client demand. ...

Bitfront – a cryptocurrency platform operated by internet company LINE Corporation – announced it will cease its services as of March 31, 2023. The entity asserted that its decision is not related to the recent collapse of FTX. The US-based exchange Bitfront informed its customers they should withdraw their assets by the end of March 2023 as it will halt all services and delete their information after that date.  It has already suspended new registrations and credit card...

The latest figures show that the first eleven months of 2022 have seen the installation of 6,100 new crypto automated teller machines (ATMs). The temps have significantly slowed down due to the ongoing bear market. In comparison, over 20,300 crypto ATMs popped up in 2021 (when bitcoin and many altcoins charted their all-time high prices). Change of Trends The skyrocketing prices of most digital assets last year and the huge investor interest have prompted the planting of...

Over a year after the first Bitcoin futures ETF went live in the States, Bitwise has filed to launch its own such product. This comes despite the ongoing bear market, which has seen prices decline and investor interest evaporate. Citing a filing with the US regulators, the Bloomberg report informed that Bitwise’s product would be called Bitcoin Strategy Optimum Yield ETF, under the ticker BITC. Similar to the previously approved ETFs in the US, this one would not hold the...

The cryptocurrency winter has been colder for some than others. While some cryptocurrency exchanges are forced to conduct massive employee layoffs to weather the bear market, others like Bitget continue to make massive hires to improve their services. On November 25, the cryptocurrency and crypto derivatives exchange Bitget announced its registration in the Seychelles, Africa, as a means to facilitate its global expansion. As reported by The Cryptonomist, Bitget plans to...

Public-traded Bitcoin mining company Core Scientific has lost about $1.7 billion since the start of the year, according to its quarterly report filed with the United States Securities and Exchange Commission (SEC) on Tuesday. The filing shows that the firm recorded its second consecutive quarterly loss at the end of Q3. The Bitcoin miner lost $435 million in Q3 and $862 million in Q2, bringing its net loss for the year to a staggering $1.7 billion. Core Scientific Seeks Fresh...