Bitcoin Hits Two-week High Imitating The Stock Rally

Cryptocurrencies are seeing a significant recovery as investors take advantage of the recent stock market rally and increased risk appetite. Bitcoin hits its highest in two weeks, extending gains from earlier this week that had seen it climb to $41,938 per coin on Saturday morning (Jan 24th). Related Reading | Bitcoin mimics stocks rally, hits two-week high Bitcoin, the largest digital currency globally, has hit $41,938. It is 16% high from Thursday’s low and 27% from the current year’s low of $32,950. Bitcoin price hits two weeks high of $41,938.…

Nigerian Blockchain Advocacy Group Says ‘Crypto Is Legit’ — Calls for Regulation of Industry – Regulation Bitcoin News

The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has implored the Central Bank of Nigeria (CBN) to reconsider its decision to block crypto entities from the banking ecosystem. The group insists that “crypto is…

New BTC price targets emerge as Bitcoin sizes up Wall Street open

Bitcoin (BTC) continues to linger just below $43,000 on Feb. 7 as markets gear up for what promises to be a lively week. Another step up overnight took BTC/USD briefly over $43,000 before consolidating with $42,000 as support, data from Cointelegraph Markets Pro and TradingView shows. Fresh losses remain firmly on the table For market pundits, the question now is which support levels can sustain on longer timeframes, which would be ideal as a foundation for further upside and what bulls expect as new resistance. For popular trader and analyst Rekt…

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Electricity Consumption Spikes in Irkutsk as More Russians Start Mining Cryptocurrency – Mining Bitcoin News

Electricity suppliers in the Russian region of Irkutsk have registered a surge in power consumption in residential areas which they are blaming on cryptocurrency mining. Planes with mining equipment from restricted China continue to land in the region, and cases of hardware theft have also increased significantly. Irkutsk Dealing With Rising Electricity Needs Amid Growing Popularity of Mining Companies ensuring electricity supplies in the Russian region of Irkutsk have reported a fourfold increase in consumption by the population in 2021 over the previous year, blaming amateur crypto miners for the…

Crypto, Blockchain Investments in 2021 Exceeded Previous 3 Years Combined: KPMG

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