Tag Archives: BTCEUR

The prominent economist – Steve Hanke – once again revealed his negative stance on bitcoin. According to him, the primary cryptocurrency is highly volatile, uncertain, and has a “fundamental value of zero.” Is BTC Really ‘Snake Oil?’ Steve Hanke – Professor of Applied Economics at the John Hopkins University – took it to Twitter to warn investors to stay away from bitcoin. The 78-year-old American – who is a well-known cryptocurrency critic – does not see the leading digital...

The financial world is watching Evergrande and what’s going on in China closely, as this has been undoubtedly the headliner for the past couple of weeks. Today, global markets tumbled as Evergrande stock price lost another 10%, sending Bitcoin well into the red with a decrease of around 8% in the past 24 hours alone. But is the pain over? Evergrande – Chinese Real Estate Behemoth Sags Evergrande managed to become one of the leading companies in China when it comes to real...

After a week of global stocks selling off and BTC managing to hold quite well, the pressure continues as SPX futures dropped sharply as fear and uncertainty regarding Evergrande’s $300B debt crisis remain. Investors need to be cautious as the SPX has broken a higher time frame structure, likely leading to increased volatility in the coming weeks. This will likely impact volatility in BTC as risk assets are highly correlated. Chart by TradingViewTechnical Support Tested – Key...

Bitcoin neared $49,000 for the first time in over a week but failed to breach it and has returned to around $48,000. Most alternative coins are slightly in red, except for Solana, which has jumped by 4% in a day to above $160. Bitcoin Maintains $48K After the volatile start of the week, in which bitcoin surged by $1,500 and dropped by $3,000 in minutes, the cryptocurrency enjoyed a steady price increase. In a matter of days, it bounced off the $43,300 low reached on Monday...

The New York-based property management company – Magnum Real Estate Group – would accept Bitcoin (BTC) as a payment method for the sale of three ground-level shops worth nearly $30 million located in Manhattan. In addition, the Autism Science Foundation (ASF) announced it would allow people to make cryptocurrency donations. Initially, the non-profit organization would accept the following digital assets: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin...

The number of people believing that bitcoin could top $100,000 by the end of the year continues to grow, with the latest being Bloomberg’s Senior Commodity Strategist – Mike McGlone. By outlining the growing mass adoption, declining active supply, among other reasons, McGlone predicted that BTC could more than double its value in the next three months. BTC to $100K: Bloomberg This year has already been a wild roller-coaster when it comes down to BTC’s price as it surged from...

While worries about Bitcoin’s energy use abound, new analysis shows that the network has already consumed more power than it did during the entirety of last year. Bitcoin’s Rising Power Consumption As reported by Bloomberg, “the network reportedly consumed about 67TWh of electricity in 2020, and its total consumption has already surpassed this in 2021”. By the end of the year, the analysts predict that Bitcoin will have used 91 TWh of electricity, rivaling the consumption of...

BTC has been showing near-term signs of strength, especially after reclaiming the 200-moving average on the 4-hour chart and holding $47.2k, a key level of support. What’s notable is that Bitcoin managed to hold support despite global stocks selling off with the dollar rising. Near term, BTC has managed to reclaim the critical 200-day moving average, 21-day, the 21-day exponential moving average, and the 200-moving average on the 4-hour chart. This is quite impressive...

Satoshi Nakamoto – the pseudonym for the yet undiscovered creator(s) of Bitcoin– has had a faceless bronze statue erected in ‘his’ honor in Hungary. Depicting Bitcoin’s Anonymous Creator The sculpture was unveiled in a technology-themed park in Budapest – the capital of Hungary – where also stands a statue of late Apple co-founder Steve Jobs. Fans pose with Satoshi statue. Source: New York PostAs Nakamoto is an anonymous figure, some have compared the difficulty of designing...

After yesterday’s dump below $47,000, bitcoin has resumed its bullish trajectory by adding $2,000 and nearing $49,000. Most alternative coins have stalled, but not Avalanche. AVAX has registered yet another all-time high, this time above $70. Bitcoin Charts an 11-Day High This week began with enhanced volatility following fake reports claiming that Walmart has adopted cryptocurrency payments for its online services. Bitcoin went up by $1,500 before dumping by $3,000 minutes...