The president of El Salvador, Nayib Bukele, has confirmed that the country is making investments to secure a geothermal power source for the construction and operation of the upcoming Bitcoin City, which will be financed with the earnings of the so-called “volcano bonds.” Bukele stated there are high chances of finding a well in the
Bitcoin News
Bitcoin (BTC) broke through $42,000 on Jan. 11 as expectations of a fresh “short squeeze” mounted. Short-term squeeze “reasonably likely” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from Monday’s dip to $39,600 — its first breach of the $40,000 mark since September. While short-term bullish prognoses were conspicuously absent on the
Bitcoin (BTC) briefly reached its lowest level in five months this Monday at $39,650, marking a 42.6% drawdown from the all-time high present on Nov 22, 2022. Some argue that a “crypto winter” has already begun citing the $2.1 billion leverage-long aggregate crypto futures contracts that were liquidated over the past seven days. The descending
The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to
Canadian crypto mining firm Bitfarms has already bought 1,000 Bitcoin in 2022, making its total holdings of the crypto asset more than $177 million. In a Monday announcement, Bitfarms said it purchased 1,000 Bitcoin (BTC) for $43.2 million in the first week of January, roughly the same amount the company added to its treasury in
Bitcoin (BTC) starts a new week in a strange place — one which is eerily similar to where it was this time last year. After what various sources have described as an entire twelve months of “consolidation,” BTC/USD is around $42,000 — almost exactly where it was in week two of January 2021. The ups
Galaxy Digital CEO Mike Novogratz expects the price of bitcoin to bottom at around $38K-$40K. “I know big institutions who are going through their process to put positions on. They’re going to see those as attractive levels to buy,” he said. Mike Novogratz on Future Outlook of Crypto Market The CEO of Galaxy Digital, Mike
Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021. “Shorters will get rekt” at $40,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing course at around $40,700 to subsequently pass $42,000. The behavior, while uninspiring for some, firmly reminded others of Bitcoin price
After the electronics giant Samsung disclosed the firm’s upcoming 2022 smart televisions would boast non-fungible token (NFT) support, the company has revealed it has opened a virtual store inside the Decentraland metaverse. Modeled from the physical store Samsung 837, Samsung’s metaverse store is called “Samsung 837X.” Samsung Steps Into the Metaverse Samsung is all about
Over the past seven days, the top trending words on cryptocurrency social media are “dip,” “buy” and “Fed.” Plus, the word “sell” fell out of the top 10 trending topics on Thursday despite spiking sharply on Tuesday. According to crypto market data aggregator Santiment, social media users from Meta to Telegram to Twitter have formed
This week Google Trends shows that the acronym NFT, which stands for non-fungible token, has reached a score of 100, the highest score a search query can get from the data analytics aggregator. Meanwhile, statistics indicate that during the last 30 days across ten different blockchains, there’s been $2.73 billion in NFT sales. NFT Monthly
Bitcoin (BTC) formed a trading pattern on Jan. 8 that is widely watched by traditional chartists for its ability to anticipate further losses. In detail, the cryptocurrency’s 50-day exponential moving average (50-day EMA) fell below its 200-day exponential moving average (200-day EMA), forming a so-called “death cross.” The pattern appeared as Bitcoin underwent a rough
Despite major internet blackouts amid anti-government protests in Kazakhstan, some Bitcoin (BTC) miners operating in the country are not planning to leave the country just yet. BIT Mining, one of the largest BTC mining companies that relocated operations from China to Kazakhstan last year, is still evaluating the impact of political unrest in Kazakhstan, Chinese industry
Institutional investors are optimistic about the U.S. Securities and Exchange Commission (SEC) having more power to regulate the crypto market, a recent survey shows. They believe that if the SEC is granted extra powers, the prices of cryptocurrencies will be positively impacted. What Institutional Investors Think About Crypto Nickel Digital Asset Management, a regulated European
Bitcoin (BTC) and the U.S. equity markets fell sharply on Jan. 5, reacting negatively to the minutes from the Federal Reserve’s December FOMC meeting, which showed that the members expect the balance sheet reduction to start after the Fed begins hiking interest rates in early 2022. Adding to the negative sentiment was the shutdown of
The estimated leverage ratio for Bitcoin (BTC) hit a new all-time high last night according to CryptoQuant. Further metrics point to growing leveraged interest, but liquidations have remained relatively low. According to on-chain analytics resource CryptoQuant, while the Bitcoin price fell off a cliff over the past 24 hours, the estimated leverage ratio reached 0.224,