Month: May 2022

Bitcoin Touches $30,000, Is The Coin Headed Towards Recovery?

Bitcoin traded at $30,000 during the time of writing. The coin has maintained its resistance at $28,000 as the bears came to rescue. Over the last 24 hours itself, Bitcoin attempted to break its consolidation. For the consolidation to be invalidated it has to trade above the $31,000 price level. The lateral movement might cause a case of breakout as usual. The indicators of Bitcoin on the one day chart seem to look positive. In the last 24 hours, BTC rose by 4.6% and in the last week there has…

We Have Hundreds of Blockchain Patents โ€” But Regulation Won’t Allow Us to Engage in Crypto โ€“ Regulation Bitcoin News

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The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. โ€œThe reality is that we canโ€™t do it by regulation,โ€ he said. Bank of Americaโ€™s CEO on Crypto Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in an interview with Yahoo Finance Live at the recent World Economic Forum event in Davos, published Saturday. He was asked about his bankโ€™s plans for cryptocurrencies. โ€œThe reality is that we run a payments business across…

Bitcoin Jumps Above $31K; Ether Gas Fees Drop

The problem is, they arenโ€™t getting back into the market: Gas is low, UniSwap is (comparatively) idle, and the price of ether continues to trend downward. Etherโ€™s price is recovering, but demand is weak because there arenโ€™t as many active traders at the moment. Source

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Billionaire Tim Draper On What Will Trigger The Next Bitcoin Bull Market

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Bitcoin has been on a bear path given its recent movements and itโ€™s no secret that the digital asset is well out of the bull market. This has sparked speculations as to what will actually trigger another bull rally for the pioneer cryptocurrency. Billionaire Tim Draper who has always been vocal when it comes to his thoughts about the crypto market has weighed in on this and put forward what he believes will be the defining factor for the next bitcoin bull market. Women Are The Key It is no…

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The Fed’s Christopher Waller Wants 50 bps Rate Hikes Until Inflation Subsides, US Savings Data Plummets โ€“ Economics Bitcoin News

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Federal Reserve governor Christopher Waller has detailed he is ready to get behind 50 bps rate hikes until the extreme inflationary pressures plaguing the U.S. economy subsides. Waller stressed that until inflation is reduced he doesnโ€™t โ€œsee the point of stoppingโ€ 50 bps rate hikes. Furthermore, statistics from the U.S. Bureau of Economic Analysis show that American savings have plummeted to levels not seen since the โ€˜Great Recessionโ€™ in 2008. Christopher Waller Advocates for 50 Bps Rate Hikes at Every Fed Meeting Until Inflation Is Under Control Inflation is wreaking…

On-chain data shows Bitcoin long-term holders continuing to โ€˜soak up supplyโ€™ around $30K

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Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins.ย  According to a recent report from Glassnode, Bitcoin hodlers are now โ€œthe only ones leftโ€ and they appear to be โ€œdoubling down as prices correct below $30K.โ€ Evidence of the lack of new buyers can be found looking at the number of wallets with non-zero balances, which has plateaued over the past month, a process that was…