Cryptocurrency markets rallied 12.5% over the past seven days to reach a $2.44 trillion market capitalization. However, that move doesn’t seem to be inspiring confidence because the same level was tested 16 days ago when a 27% retrace followed ether’s (ETH) attempt to break $3,650 over the next six days. Regulation seems to be a
Month: October 2021
Privacy activist and whistleblower Edward Snowden says that bitcoin is up about 10 times since he tweeted about buying it. Bitcoin is stronger “despite a coordinated global campaign by governments to undermine public understanding of — and support for — cryptocurrency,” he said. Edward Snowden Says Bitcoin Stronger Despite Governments’ Anti-Crypto Campaign Former computer intelligence
Link Global Technologies, a Bitcoin (BTC) mining company listed on the Canadian Securities Exchange, is facing major potential penalties for operating unauthorized power plants in the province of Alberta. The Alberta Utilities Commission (AUC), the province’s power utility regulator, issued Sept. 24 another enforcement submission against Link Global, with enforcement staff recommending several penalties for
Bitcoin (BTC) hit $50,000 for the first time in a month on Oct. 5 as a triumphant return to form continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC’s price hits one-month high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD adding another 5% Tuesday to briefly return to the psychologically significant price point. The
The Nigerian High Court that is presiding over the e-naira trademark infringement case brought against the Central Bank of Nigeria (CBN), has ruled that Central Bank Digital Currency (CBDC) “may proceed on national interest” considerations. The ruling clears a crucial legal hurdle for CBN’s yet to be rolled out digital currency. CBN’s Alleged Trademark Infringement
Bitcoin (BTC) is officially the best performing asset of 2021, data now confirms. As October delivers 15% gains in five days, BTC firmly outperforms macro assets worldwide to seal year-to-date returns of just under 50%. Bitcoin hodlers up 49% year-to-date Despite Bitcoin’s wild ride throughout the year, downside has failed to grip the market, with
There has been another twist in the ongoing battle between distributed ledger technology firm Ripple and the U.S. Securities and Exchange Commission (SEC). On Monday, Oct. 4, U.S. District Judge Analisa Torres ruled that individuals holding the company’s XRP token cannot act in Ripple’s ongoing lawsuit as defendants. The determination comes after a number of
Bitcoin mining operations are on the path to full recovery following the most dramatic short-term disruption in network history earlier this year, and miners are reaping the rewards in revenues. In its Oct. 4 Week on Chain report, on-chain analytics provider Glassnode reports that Bitcoin hashrate has largely recovered despite 50% of the network’s hashing
The CEO of global investment bank JPMorgan, Jamie Dimon, says that bitcoin has no intrinsic value and “regulators are going to regulate the hell out of it.” He emphasized: “If people are using it for tax avoidance and sex trafficking and ransomware, it’s going to be regulated, whether you like it or not.” JPMorgan’s Boss
In stock markets and the crypto sector, traders are always looking for a definite reason to explain an asset’s price action, which means it’s important to stress that correlation doesn’t imply causation. While it may be easy to connect a regulatory statement or pending legislation to the outcome of an asset’s price, there’s not always
This week, United States lawmakers and regulators have stolen much of the spotlight once more. The cryptocurrency-related provisions of the infrastructure bill, a tiny grain of sand in the grand scheme of the omnibus legislation, had all laser eyes glued to the fateful House of Representatives vote — which never happened. There is a sense,
AXS, the native token of Axie Infinity, a play-to-earn nonfungible token (NFT) game built atop the Ethereum blockchain, rallied more than 100% on a quarter-to-date (QTD) timeframe to refresh a new record high above $155. Nonetheless, the cryptocurrency now risks paring a portion of its recent gains as a key technical indicator, dubbed the relative
The wider cryptocurrency market fell under pressure on Oct. 4 as the momentum generated by Bitcoin’s (BTC) weekend spike above $49,000 was overshadowed more global concerns related to the global financial system, rising inflation and supply chain challenges. Despite these struggles, many altcoins managed to rally and at the time of writing, the crypto gaming
Bitcoin (BTC) is facing rejection near $50,000, indicating that bears are not ready to give up without a fight. Many analysts expect Bitcoin to soar in the last quarter of the year and stock-to-flow model creator PlanB says the “worst-case scenario” for Bitcoin in October is $63,000 and $98,000 by November. PlanB is not alone in his
Bitcoin’s hashrate has been climbing steadily over the last three months and rose more than 40% after the network’s hashpower was below 90 exahash per second (EH/s) on July 5. The trend has led to a consecutive run of five bitcoin mining difficulty accruals with another increase expected during the next transition. Hashrate Steadily Increases,
South Korean cryptocurrency exchange Upbit will soon halt services for unverified users. On Saturday, the company officially announced a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements. According to the announcement, Upbit will start gradually limiting services for unverified users this week, restricting unverified customers from
