Day: August 11, 2019

Crypto Winter Freezes New York Bitcoin Mining Industry

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New York’s once-robust Bitcoin mining industry has nearly vanished. | Source: Lars Hagberg / AFP A unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased demand from the Bitcoin mining industry created the problem of increased electricity demand driving up the costs. Mining Premiums &…

Tezos (XTZ) – One of the Fastest Growing Cryptocurrencies this Year

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So far, Bitcoin(BTC)trade has managed to stay ahead of all other cryptocurrencies, leaving them behind in terms of market capitalization. But while Bitcoin is still far ahead with its colossal market gap, there are other smaller cryptocurrencies that are gaining a strong momentum; one of them is Tezos (XTZ) Bitcoin has always been the most dominated player in the crypto sphere and recovered steadily after its plunge in 2018. The Bitcoin price has increased by 200% since the beginning of the year as a part of a recovery after the…

North Carolina Congressman Wants to End Double Taxation on Crypto with Proposed Tax Bill

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The Virtual Value Tax Fix Act was reintroduced in the U.S. House of Representatives by North Carolina’s Rep. Ted Budd (R). The bill, which was first presented on July 25, aims to end the double taxation and record-keeping of cryptocurrency transactions by amending 1986’s Internal Revenue Code. Budd has called the bill a matter of national security. Under the Internal Revenue Code of 1986, gains and losses in trades and exchanges involving real property remain unrecognized. The Internal Revenue Code, specifies: “No gain or loss shall be recognized on the…

Bitcoin (BTC) Price Weekly Forecast: Risk Of Fresh Drop To $10,500

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After a decent rise, bitcoin price topped near the $12,325 level against the US Dollar. The price is currently correcting lower below $11,500, with a bearish angle. There was a break below a crucial contracting triangle with support near $11,750 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently holding the $11,200 support, but it could extend its decline to $10,500. Bitcoin price is currently correcting gains from $12,325 against the US Dollar. BTC price could correct lower towards $10,500 before it could…

Ethereum Price Weekly Forecast: ETH Could Rise While BTC Struggles

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ETH price failed to climb above the $240 resistance and declined against the US Dollar. The price declined below the key $220 support level, which may now act as a resistance. There is a major bearish trend line forming with resistance near $214 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could either climb back towards the $220 resistance or it might slide back to $200. Ethereum price is currently attempting an upside break against the US Dollar, and recovering vs bitcoin. ETH price might rise…