Day: July 29, 2022

What happens when 21 million Bitcoin are fully mined? Expert answers

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When the last Bitcoin (BTC) is finally mined, the livelihood of miners who rely on block rewards as a source of income will be affected. Despite this, the future of mining stays promising, according to an expert in space.  In a Cointelegraph interview, Mohamed El Masri, the founder of mining solutions provider PermianChain, talked about new players jumping into mining, the future of mining and what happens to mine profitability after the 21 millionth BTC is minted. El Masri highlighted that efficiency is a very important focus that new players…

BTC Climbs Above $24,000, While ETH Nears $1,800 – Market Updates Bitcoin News

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Bitcoin rose for a third consecutive session on Friday, as prices rose above $24,000 to end the work week. Today’s rise comes as sentiment in crypto remains bullish, following Wednesday’s interest rate hike by the Fed. Ethereum was also higher, as prices approached $1,800. Bitcoin Bitcoin (BTC) was trading higher for a third straight day, as prices climbed over $24,000 in today’s session. The world’s largest cryptocurrency hit an intraday peak of $24,294.79 earlier in the day, which comes after BTC was at a low of $22,722.27 on Thursday. Friday’s…

Semantics? Analysts unpack ‘technical recession’ as crypto markets recover

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Data from the United States commerce department suggests America has entered a technical recession, but market analysts have highlighted key metrics that suggest investors are optimistic. The American economy shrunk for the second consecutive quarter, according to government data released on Thursday, fitting the criteria for a technical recession. The Biden Administration maintains that the U.S. is not in a recession, highlighting low unemployment rates and other metrics that counter the argument. Mati Greenspan, founder & CEO of Quantum Economics, addressed the topic in his latest QE newsletter, noting a…

Polkadot (DOT) Grinds 15% Higher Amid Sustained Buying

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There’s no stopping Polkadot (DOT) price as it continues to locomote up. It’s the second consecutive day of winning streak for Polkadot as it spiked by 15% in gains.   According to CoinMarketCap, Polkadot (DOT) price is currently up by 5.92% or at $8.02. It currently has a total market cap of 7,916,976,700 as of this writing. DOT price has experienced sustained and robust buying pressure after touching on lows on Tuesday at $6.52. The coin has successfully bounced back from the $6.50 support line. Can DOT Spike To $8.50? The…

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Expert Tells Investors To Be Careful In The Cryptocurrency Rally, Why’s That?

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A crypto influencer, Alfonso Peccatiello, expressed his thoughts as regards the recent cryptocurrency rally. He stated that the current crypto rally is not a yardstick for investors to raise their hopes too high. This was revealed following the increase in certain digital currencies such as Bitcoin and Ethereum in the last 24 hours. A recent crypto market watch showed a 24-hour price appreciation of Bitcoin of more than 9%. Currently, BTC trades at a price of over $23,000. Meanwhile, Ethereum, the second largest digital currency, has also experienced a rise…

IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks – Emerging Markets Bitcoin News

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The global lending institution, the International Monetary Fund (IMF) has told the Kenyan central bank that its proposed digital shilling must “do no harm” to existing private sector digital money. The lender insisted the proposed central bank digital currency (CBDC) must “not stifle such welcome digitalisation developments by taking away customers of banks and other digital finance providers.” Keeping Payment System Open and Competitive The International Monetary Fund (IMF) has reportedly said the Kenyan central bank’s proposed digital currency should complement and not threaten the existing private sector digital money.…

Bitcoin holds $24K as USD taps 3-week lows on eurozone inflation report

Bitcoin (BTC) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Eurozone inflation estimate shows no peak Data from Cryptox Markets Pro and TradingView showed BTC/USD maintaining most of its latest gains after spiking to nearly $24,500 overnight.  The day’s macro action delivered painful news for the European Economic Area (EEA), as the latest estimates for euro inflation came in at 8.9% for July — still climbing from June’s 8.6%. “Looking…

Bitcoin holds $24K as US dollar taps 3-week lows on Eurozone inflation report

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Bitcoin (BTC) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Eurozone inflation estimate shows no peak Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining most of its latest gains after spiking to nearly $24,500 overnight.  The day’s macro action delivered painful news for the European Economic Area (EEA), as the latest estimates for euro inflation came in at 8.9% for July — still climbing from June’s 8.6%. “Looking…