Tag Archives: btcusdt

The current President of El Salvador known as an outspoken bitcoin proponent – Nayib Bukele – said he will compete in the next presidential elections in 2024. Throughout his reign, El Salvador launched numerous BTC initiatives, such as turning the coin into a legal tender inside the nation’s borders. On another note, the American credit rating agency Fitch Ratings downgraded El Salvador’s Long-Term Foreign Currency Issuer Default Rating (IDR) to “CC” from “CCC.” The entity...

The Central Bank of Bahrain (CBB) is set to test a Bitcoin payment processing and payout solution in collaboration with OpenNode. According to the official press release, the BTC payment processor plans to provide the infrastructure for the solution. The Regulatory Sandbox was first launched in 2017, following which the CBB authorized OpenNode to participate in its framework that enables financial tech companies to test their ideas and solutions in the country. OpenNode’s CEO...

Bitcoin is once again back below $20,000 after briefly surging above the price level last week.  The primary cryptocurrency traded at roughly $20,200 at 17:30 UST on Wednesday, before quickly declining to about $19,600 an hour later. It trades for $19,957 at the time of writing, unable to break back above $20k. According to CoinGlass, about $51 million have been wiped from the crypto markets in liquidations over the past 4 hours, adding to $185 million over the past 24...

The recent Bitcoin recovery had the majority of market participants hoping for a new bull market. However, after yesterday’s USA Consumer Price Index announcement, it seems like it was all another bull trap, and the market can still drop deeper. Technical Analysis By: Edris The Daily Chart As seen on the daily Chart, the price had rebounded from the $18K level and was moving towards the $24K resistance level. However, the 50-day and 100-day moving average lines, accompanied...

The crippling impact of May and June’s crash on Bitcoin miners still persists. New data revealed that August recorded the fourth consecutive month that has seen negative miner net flows. Bitcoin miners had to resort to selling in order to sustain themselves throughout August recording a net outflow of 21.3k BTC. The only month when miners accumulated BTC this year was April, as per the latest edition of CryptoCompare’s Asset Report. Bitcoin Miners in Distress The price of the...

The main opposition party in Canada – the Conservative Party – elected Pierre Poilievre as its new leader. Interestingly, the 43-year-old politician has displayed he is a keen supporter of bitcoin and a critic of the central bank, which allegedly worsened the inflationary environment in the country. Earlier this year, thousands of Canadians protested against the government’s pandemic restrictions. To fight the unrest, Justin Trudeau’s administration requested financial...

Bitcoin’s hash rate continues to move in contrast with the asset’s price as it charted yet another new all-time high recently. This comes even after the latest substantial mining difficulty increase, which was the largest in over six months. Bitcoin Hash Rate New ATH The hash rate is an essential metric in the BTC network as it shows its robustness based on the number of active miners and the computational devices they have plugged into it. Generally, it declines during the...

The Las Vegas-based cryptocurrency miner – Marathon Digital Holdings – steadily improved its bitcoin production levels in August, mining 184 BTC. It also successfully energized 25,000 of its previously installed miners. The process increased the hash rate to nearly 3.2 exahashes per second. Over the next three months, the company expects to activate 65,000 additional miners and thus reach a computing power of 6.9 EH/s. Marathon Makes a Progress One of the biggest crypto...

The Bitcoin market is often full of surprises and last week was no exception. Bearish sentiment was dominant, and the cryptocurrency seemed to be days away from creating a new lower low. However, a significant price rally has changed the view from a technical aspect. Technical Analysis By: Edris The Daily Chart Looking at the daily timeframe, Bitcoin has bounced back from the key $18K support level once more, and rallied impulsively above the $20K mark last week. The price...

The demand and interest in bitcoin seem to be further fading among retail investors, at least according to data from Googe Trends. At the same time, the searches for the upcoming Ethereum Merge event have skyrocketed to a new all-time high days before the blockchain’s transition to PoS. No Searches for Bitcoin Google trends data shows the behavior and interest of retail investors as they tend to inquire about certain investments on the world’s largest search engine. The rule...