Tag Archives: BTCGBP

The prominent bitcoin bull – Michael Saylor – opined that the FTX crisis will have certain benefits on bitcoin. In his view, the turbulence will eliminate thousands of useless digital assets while the primary cryptocurrency and a “handful” of other coins will be the only survivors. ‘Bitcoin Will be the Winner’ In a recent interview for CNBC, MicroStrategy’s Executive Chairman – Michael Saylor – argued that bitcoiners (like himself) are “trapped in a dysfunctional...

Market participants are going through a period of fear and uncertainty as the FTX exchange has recently announced bankruptcy after facing a massive liquidity crunch. As a result, Bitcoin plunged and marked a new low at $15.5K. Technical Analysis By Shayan The Daily Chart The $18K level had been supporting the price for several months. However, Bitcoin was recently rejected and experienced a massive shakeout, plunging beneath it following massive bearish momentum. The market...

The President of El Salvador – Nayib Bukele – reportedly dismissed the arising rumors that his country holds its bitcoin stash on the battered cryptocurrency exchange FTX. The information was revealed by Binance’s CEO – Changpeng Zhao – who said he discussed the matter with the political leader. The Central American nation became the first to make bitcoin legal tender inside its borders. It has purchased over 2,381 coins on a macroeconomic level which equals over $41 million...

One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the Michael Saylor-founded organization MicroStrategy has more bitcoin possessions. Q3 Was a Transition Period Fred Thiel – Marathon’s Chairman and CEO – said 2022’s Q2 was a...

Binance’s CEO said the world’s largest cryptocurrency exchange increased its Secure Asset Fund for Users (SAFU) to $1 billion again. This comes as a result of the recent market plunge, and its purpose is to grant customers maximum protection in case of another possible negative event. Changpeng Zhao (CZ) tweeted that his trading venue topped up its SAFU insurance fund to $1 billion. BUSD and BNB holdings account for $700 million of the total sum, while BTC’s address makes up...

Over $640 million in trades have been liquidated from crypto markets in the aftermath of FTX’s drama with Binance. Markets experienced a brief rally after Binance announced its intention to buy FTX, but have since retraced while FTX Token continues to dump. According to Coinglass, over $640 million in liquidations have taken place in the last 24 hours, with $182 million liquidated in the past hour alone.  The largest single liquidation took place on BitMEX on a Bitcoin / US...

The hyperinflation, the collapse of the local banking system, and the significant depreciation of the currency prompted numerous Lebanese residents to embrace cryptocurrencies, including stablecoins. Some locals have also focused on bitcoin mining since they can use cheap hydropower from rivers and generate “fresh dollars.” What Triggered the Collapse? Lebanon, considered one of the most developed countries in the Middle East before the 1970s, currently struggles with...

The United States Department of Justice (DoJ) announced the historic seizure of over $3 billion worth of bitcoin from a fraudster who allegedly scammed the defunct online darknet marketplace Silk Road and stole more than 50,000 bitcoin. The defendant pled guilty to a wire fraud crime committed a decade ago and could face up to 20 years in prison. In a press release on Monday (November 7, 2022), the DoJ revealed the seizure of over 50,000 bitcoin from indicted Silk Road...

After recording its highest daily close since September, breaking above the 100-day moving average line, Bitcoin’s price eyes higher targets. Technical Analysis Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price just broke above the 100-day moving average resistance line after multiple rejections during the last couple of weeks. this is the first time it succeeds since September, and if the price holds another day above it – it will become the...

Despite getting stopped at $21,500 and retracing by a few hundred dollars, bitcoin has still managed to stay above $21,000. Most altcoins are calmer today on a daily scale, while Solana jumped to a two-month high at almost $40. Bitcoin Still Above $21K The start of November brought a lot of volatility for the primary cryptocurrency, mostly coming from US-related events. It began on Wednesday when the Federal Reserve said it will raise the key interest rates by 75 basis...