MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor’s exit after a depressive quarterly earnings report. Microstrategy stock up 142% since May lows On the daily chart, MSTR’s price surged by nearly 14.5% to $324.55 per share, the highest level since May 6. The stock’s intraday
Bitcoin News
The Nomad token bridge hack on Aug. 3 was the fourth largest crypto hack in history that saw nearly $200 million worth of crypto assets drained from the platform. However, more than the hack, the methodology behind it garnered widespread attention. The exploit took place due to a smart contract vulnerability that saw hundreds of
This week, the Chamber of Deputies in Brazil might approve a cryptocurrency bill introduced earlier this year. According to the leader of the Federal Government in the Chamber, Ricardo Barros, the bill is set to be discussed, but there are still no reports on a possible vote as the Chamber is set to also discuss
Smaller Bitcoin (BTC) investors have found a unique opportunity during the crypto slump to snap up their favorite cryptocurrency. The number of “wholecoiners” has surged by 40,000 since the June slump alone. According to LookIntoBitcoin, the number of BTC “wholecoiners” has been steadily increasing since January 31, when the BTC price was around $38,000. However,
Bitcoin (BTC) has been trending up since mid-July, although the current ascending channel formation holds $21,100 support. This pattern has been holding for 45 days and could potentially drive BTC towards $26,000 by late August. According to Bitcoin derivatives data, investors are pricing higher odds of a downturn, but recent improvements in global economic perspective
On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in
A recent study conducted by the European Central Bank (ECB) on identifying the ultimate cross-border payment medium crowned central bank digital currencies (CBDCs) as the winner against competitors, including banking, Bitcoin (BTC) and stablecoins, among others. ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank
After strong monthly gains in July, Bitcoin (BTC) and the altcoins have started the new month on a tentative note. Even the United States equities markets have started August on a soft note. Is the bottom in? BofA Securities head of U.S. equity and quantitative strategy Savita Subramanian said in a recent note that the
Bitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Businesses in the area will accept bitcoin for payments. “In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers,” said a local business owner. Bitcoin Valley: First
Bitcoin (BTC) tested $23,000 as support on the Aug. 1 Wall Street open with key moving averages in focus. 200-week moving average gets big attention Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as bulls and bears battled for control amid a tight trading range. Bitcoin had inspired with its highest weekly close since mid-June
Bitcoin (BTC) starts a new week and a new month on a cautiously positive footing after protecting crucial levels. After an intense July in which macro factors provided significant volatility, BTC price action managed to provide both a weekly and monthly candle favoring the bulls. The road to some form of recovery continues, and at
In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates the CBK governor Patrick Njoroge and the Asset Recovery Agency (ARA)’s assertions that the
Bitcoin (BTC) spoofed a breakout to fresh six-week highs into July 31 as a showdown for both the weekly and monthly close drew near. “Bart Simpson” greets traders into BTC monthly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD canceling out all its gains from early in the weekend, dropping from $24,670 to $23,555
Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6. Investors seem to be making
On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that more bear markets are coming and the next one will be “the worst” in his lifetime. Noting that many stocks will go down 90%, he stressed that investors will lose a lot of money. Jim Rogers Says ‘the