Tag Archives: Bitcoin

Despite all the economic and financial turmoil in the United Kingdom, bitcoin has not taken advantage of the situation and dropped even further in October, even though that period has historically been bullish for the world’s number one digital currency by market cap. Bitcoin Should Have Risen, but the Opposite Happened October saw the resignation of UK prime minister Liz Truss, who set a record after serving only 44 days in her post. The news brought an onslaught of new...

Bitcoin price started a fresh decline below the $20,000 zone against the US Dollar. The price is now trading below $18,000 and the 55 simple moving average (4-hours). There was a break above a short-term bearish trend line with resistance near $16,920 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could recover, but upsides might be limited above the $17,500 resistance zone. Bitcoin price is struggling below $18,000 against the US Dollar....

Bitcoin experienced a significant drop in mid-October of this year after roughly 48,000 units were moved out of Coinbase, one of the world’s leading and most popular digital currency trading platforms. Coinbase Loses a Lot of BTC Business The transaction was first reported on by Crypto Quant, which claims the outflow of bitcoin from Coinbase was the second largest in the history of the digital currency arena. The company claims this is proof that virtually everyone –...

Blockchain platform Point Pay is creating a new project it’s calling “Launched Solutions to Navigate the Cryptocurrency Market Turbulence.” Point Pay Is Working Hard to Solve Crypto Trouble The goal is to ensure that customers have what they need to deal with the ongoing volatility and speculation of the crypto space, which has been occurring since the beginning of the year. There is no doubt that crypto, in many ways, is failing miserably, and the entire arena appears...

Bit Nile – a diversified holding firm – has announced it’s establishing a new bitcoin-based marketplace that will utilize and leverage the power and technology of blockchain. Bit Nile Aims to Simplify Blockchain The news is good because it is testament to the strength of bitcoin and the forces behind it. As we all know by now, the crypto space has been crashing and burning since the beginning of this year. Bitcoin, for example, is the world’s number one digital currency...

Over a year ago, El Salvador made history when it declared bitcoin legal tender. This meant that many companies throughout the region were required to accept crypto payments alongside the U.S. dollar, which the country had long been dependent on, but has everything worked out in the nation’s favor? El Salvador and Bitcoin… Has It Worked? With about 16 months under its belt of using bitcoin as real, actual money, it appears El Salvador has some relatively mixed results to...

A topic we have repeatedly covered over the past several weeks is how crypto continues to falter. Crypto Is Still a Tough and Resilient Industry The price of bitcoin, for example (the world’s number one cryptocurrency by market cap), has fallen from its all-time high of $68,000 per unit achieved a year ago into the low $19K range at the time of writing. This is a dip exceeding 70 percent, while the crypto space has lost a total valuation exceeding $2 trillion at this...

A new inflation report is expected to show rates rising approximately 6.5 percent in September, roughly .2 percent higher than what occurred in August. This, per financial institutions like JPMorgan, could cause further falls in assets like stocks and crypto units, which could drop five percent more in the coming weeks once the results are in. Inflation Is Still Pretty Bad Things have been bad as of late, but now it looks like they’re about to get worse. The rate of...

Cathie Wood of ARK Investment Management says the economy is heading into a downward spiral, and only bitcoin can help it. Cathie Wood Still Thinks Highly of BTC There has been an argument for the past few years that bitcoin, in some way, can serve as a potential hedge against inflation. That by investing in bitcoin, people can avoid crashing and burning when the dollar falls. However, this argument has been heavily challenged given the price of bitcoin has taken several...

Mustafa Gokiu – a man living in the town of Sunnyside, New York – was convicted in mid-October by a federal jury in Brooklyn for allegedly running a crypto money laundering and drug scheme. It is stated in court documents that the man laundered BTC units through an unlicensed money-transmitting business. Mustafa Gokiu Guilty of Crypto Money Laundering At the age of 50, Gokiu was found guilty on several charges including money laundering, operating an unlawful money...