Cryptocurrency

Russian President Vladimir Putin approved legislation to reduce its reliance on the United States dollar in international trade. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Small, individual miners can also mine digital currency without officially registering if their energy consumption […]

Bitcoin has reclaimed $62,000 just a few days after “Crypto Black Monday,” with traders pointing to a bullish pattern on the seven-day price chart, which signals Bitcoin may have hit its floor. “Bitcoin is seeing a massive green weekly candle with a huge wick,” crypto trader Matthew Hyland said in an Aug. 8 analysis video as Bitcoin […]

Ethereum’s native token, Ether, plunged to its lowest point in three years against Bitcoin on Aug. 5 amid the global market upheaval. This sharp decline dragged the ETH/BTC year-to-date returns down by 25%. ETH/BTC daily price chart. Source: TradingView Ether is persistently underperforming Bitcoin despite the long-awaited launch of its spot exchange-traded funds (ETFs) in the United […]

Cryptocurrencies resumed their rebound from their big sell-off earlier in the week, with bitcoin topping $60,000 late Thursday. The price of the flagship cryptocurrency was last higher by 11% at $61,232.36, according to Coin Metrics, rising above the $55,000 floor that has supported it for much of this year. Ether advanced 12% to $2,644.90, after […]

Although the unwinding of the yen carry trade has likely paused since Monday, stabilizing risk assets, including bitcoin (BTC). Still, other risks remain, such as the slower U.S. consumer borrowing, according to 10x Research’s founder Markus Thielen. Total credit outstanding increased by $8.9 billion in June following an upwardly revised $13.9 billion in May, missing the consensus estimate of a $10 […]

Bitcoin’s price increased by 5.5% on Aug. 6 yet struggled to maintain levels above $57,000 despite positive momentum in traditional financial markets. On Aug. 7, the Euronext 100 index rose by 2.2% and oil prices surged by 2.8%. This suggests that Bitcoin’s price correction is less about global economic conditions and more about market-specific factors, […]

Economist and gold advocate Peter Schiff argues that bitcoin exchange-traded funds (ETFs) contradict the core principles of the cryptocurrency by undermining decentralization and peer-to-peer transactions. He criticizes recent buyers of bitcoin for focusing solely on profit, suggesting this behavior indicates an impending collapse. Schiff also slammed Senator Cynthia Lummis’ bill proposing a U.S. bitcoin reserve, […]

The Bitcoin bull-bear market cycle indicator, a metric that tracks phases of investor sentiment in the Bitcoin market, recently signaled a bear phase following the macroeconomic downturn resulting from rising Japanese interest rates and a strengthening yen. According to Julio Moreno, head of research at CryptoQuant, the indicator has not flashed a bear signal since […]

The Bitcoin price has recovered 13% since dropping to $49,050, but the commencement of 2024’s so-called “ghost month” is expected to keep investors cautious, especially in the Asian market. BTC/USD on 1-day chart. Source: Trading View What is a ghost month? This year, the ghost month is from Aug. 4 to Sept. 2. According to the […]

The city of Chico in California anticipates the combined support from state-level legislation and local ordinances to better regulate the Bitcoin teller machines or ATMs. During a local government committee discussion held on Aug. 7, Andy Pickett, the chief administrative officer at the County of Butte, spoke about the ongoing efforts toward regulating Bitcoin ATMs. […]