Cambridge research shows that Chinaâs Bitcoin mining power fell by 40% before the crackdown, while the United Statesâ hash power has quadrupled. Chinaâs crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the minersâ exodus from Asia to Western countries. But new research by the Cambridge Centre… More
Discounted tariffs made Iran attractive to miners, now the country is having a hard time closing the gap between the production and consumption of electricity. Iranâs challenge with the ever-increasing electricity consumption reached new heights, leading the country to halt electricity exports.Abuzer Salihi, general manager of Iranâs electricity distribution company Tevanir, announced on state television… More
Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July. Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency’s spot prices has turned into a hotly debated topic among the analysts in… More
A statement threatening account closures for crypto activity causes mayhem before being deleted minutes later as FUD rules supreme on Bitcoin markets this week. Bitcoin (BTC) is lower going into a new weekâs trading â Monday has seen a test of levels below $33,000 and bulls are struggling.What could be next? With bullish short-term voices… More
Bitcoin is now officially legal tender in a sovereign state for the first time, but can it exit its bearish price phase? Bitcoin (BTC) headed towards $35,000 on June 9, boosted by historic news that El Salvador had made it legal tender. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader “not sure” if Bitcoin has bottomedData from… More
Bitcoin dominates but Ethereum is growing in popularity for institutional investment products. According to digital asset investment manager, CoinShares, institutional-grade crypto asset investment products inflows have already reached record levels so far in 2021.According to Coinsharesâ March 15 Fund Flows Weekly report first quarter inflows into cryptocurrency funds are up 7.7% and already total $4.2… More
Bitcoin miners are selling at a level unseen since July 2019 when BTC price topped out at $14,000. According to data from CryptoQuant, miners appear to be selling large amounts of Bitcoin (BTC). Historically, heightened selling pressure from miners marked a local top and led to sharp, prolonged corrections.BTC/USDT 1-hour chart. Source: TradingView.comWhy are Bitcoin… More
Will Ether be able to replicate the 2016 Bitcoin bull run with DeFi’s momentum? Several analysts believe so. Several prominent analysts say Ether (ETH) is on the cusp of a major bull run despite already gaining nearly 65% in 2021. Ethereum has seen explosive growth in decentralized finance and other areas, causing user activity on… More
Ethereum and the altcoin market are stagnating against Bitcoin with the ETH/BTC pair being the key to the next altseason. Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has been lagging behind Bitcoin (BTC). Historically, when BTC surges, altcoins tend to rally with larger upside price movements.This time, Bitcoin has been clearly outperforming the… More
The price of Bitcoin is consolidating around $19,000 as traders brace for a possible pullback. The price of Bitcoin (BTC) was rejected by the $19,500 resistance level yet again on Dec. 4, with traders becoming increasingly uncertain about what’s next for BTC/USD. Bitcoin rally keeps stalling at $19,500Some foresee the dominant cryptocurrency undergoing a consolidation… More
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTCâs weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average… More
Bitcoin price is on track to achieve $22,000 says one analyst, citing four main factors that could boost its momentum. Philip Swift, a Bitcoin (BTC) analyst and the creator of Lookintobitcoin.com, laid out four reasons why BTC is headed to $22,000. Both fundamental and technical factors indicate the top cryptocurrencyâs momentum is strengthening.The one-year HODL… More
The information in the report appears to confirm what many in the industry already believed to be true. A new report from investment firm Wilshire Phoenix claims that the Chicago Mercantile Exchangeâs, or CMEâs, cash-settled Bitcoin futures trading products affect Bitcoinâs price even though they do not directly involve actual real Bitcoin (BTC).âThe findings of… More
The post-BitMEX trading arena is not skewed to selling despite BTC/USD nearing $11,500, CryptoQuant data shows. A Bitcoin (BTC) sell-off and associated price fall are ânot going to happen,â a well-known the CEO of a well-known analytics tool has said.In a tweet on Oct. 12, Ki Young Ju, CEO of CryptoQuant, noted that average inflows… More
The bulls are buying the dips in Bitcoin and a few altcoins, suggesting that investor sentiment remains positive. The shallow pullback in Bitcoin (BTC) following the news of the CFTCâs regulatory crackdown on BitMEX and the late announcement that U.S. President Donald Trump tested positive for coronavirus shows that the underlying sentiment is still bullish.Generally,… More
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