Day: November 16, 2021

Bitcoin Stabilizes Near $60K Support; Faces Resistance at $63K-65K

Bitcoin (BTC) is down about 5% over the past 24 hours after sellers gained control around the $65,000 resistance level. The cryptocurrency is stabilizing around $60,000 support and appears to be oversold on intraday charts. For now, short-term indicators suggest limited downside into Asian trading hours. For example, the relative strength index (RSI) on the four-hour chart is the most oversold since Oct. 27, which preceded a near 10% price bounce. Still, the RSI on the daily chart is neutral as upside momentum continues to wane. This suggests intraday buyers…

Raoul Pal: I'm BUYING more ETHEREUM now because of this!! – Bitcoin News Today

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As the Dollar’s Purchasing Power Drops, Janet Yellen Stresses ‘Pandemic Calls the Shots’ for the Economy, Inflation – Economics Bitcoin News

Inflation has continued to make the price of goods and services in America rise as the U.S. dollar’s purchasing power is not what it used to be. Meanwhile, the Obama administration’s former economic advisor, Larry Summers, recently told the press that “We’re going to see inflation of a kind we haven’t seen in 30 years.” Despite the gloomy forecasts, the White House doesn’t believe these predictions and U.S. Treasury secretary Janet Yellen is blaming inflation on the Covid pandemic. Former Economic Advisor for Obama Predicts Red Hot Inflation Will Rise…

China Warns State-Owned Companies To Stop Bitcoin Mining Or Risk Strict Penalties

China has issued a warning to its state-owned enterprises to stop cryptocurrency mining. It also warned that it would increase electricity rates for companies that continue to defy the ban. This latest warning comes amid the ongoing crypto ban in the East Asian country. Some months ago, the government of China declared all crypto trading activity illegal. Subsequently, crypto miners and exchanges like Huobi and Binance began to relocate to countries with crypto-friendly regulations. Related Reading | Is This The Reason China Banned Bitcoin Mining? Carvalho’s Mind Blowing Theory However, despite…

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Why Are We Still Debating Whether Craig Wright Is Satoshi?

Skepticism of Craig Wright, in other words, is a precious point of agreement between people who, in many cases, would quite gladly gouge each other’s eyes out given half a chance. In fact, short of the core values of transparency, privacy and censorship resistance that define blockchain technology itself, disbelieving Craig Wright may be the single largest point of agreement in the entire cryptocurrency industry. Source

The SEC Still Doesn’t Like Spot Bitcoin ETFs

For a bitcoin ETF to win the day its issuer must establish what the SEC calls a “surveillance sharing agreement” with another major, compliance-minded market upon which the asset trades. It’s a simple argument, really. Any would-be manipulator would need to influence one market to reap gains on the other. If both those markets share data, then better the chances to catch the crook. Original

Gryphon Digital Mining Delays Plan to Become Publicly Traded

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders. Sphere 3D shareholders are expected to own approximately 62% of the company and Gryphon shareholders will own the remaining 38%. Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name. Source

Can Solana’s growth outpace Ethereum?

The top cryptocurrencies by market capitalization keep changing over time as the industry matures. Solana (SOL) has seen its value skyrocket so far this year and has been consistently processing over 2,500 transactions per second. The cryptocurrency’s price, according to TradingView data, is up nearly 13,000% year-to-date as the year started with SOL trading slightly below $2. Solana is now changing hands-on exchanges for around $240. Solana is a blockchain platform that aims to achieve high transaction speeds at a low cost without sacrificing decentralization. To do so, it relies…