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Day: August 23, 2022
Andreessen Horowitz Says Crypto Can Shift Power Away From Big Internet Companies: Report
Since the start of the crypto arm in 2018, a16z has raised more than $7.6 billion to invest in crypto and blockchain companies. That includes its fourth crypto fund, established in May with $4.5 billion even as the market tumbled. Bitcoin has fallen from last November’s record high of $69,000 to as low as $17,000 in June. Source
Bitcoin addresses in loss hit 1-month high as BTC price retests $21K
Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips below $21,000 since the end of Aug. 19, data from Cointelegraph Markets Pro and TradingViewย shows, and the quest for support is already making plenty of traders nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Meanwhile,…
Latest Ghana Benchmark Rate Hike the Largest on Record โ President Promises Action Against ‘Unacceptable Depreciation of the Cedi’ โ Bitcoin News
After seeing Ghanaโs inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banksโ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of his government. Largest Benchmark Rate Hike Since 2002 In an attempt to tame the countryโs runaway inflation rate, which topped 31.7% in July, the Ghanaian central bank hiked the benchmark interest rate by 300 basis…
Iran Import Association demands regulatory clarity to use crypto in foreign trade
In the aftermath of the first officially reported crypto payment in the sanctioned countryโs foreign trade, Iranโs importers point to the necessity of stable regulations to continue trade via cryptocurrencies.ย On Saturday local reportsย cited the head of Iranโs Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use cryptocurrencies for imports: โThe question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two months…
Iran Impart Association demands regulatory clarity to use crypto in foreign trade
In the aftermath of the first officially reported crypto payment in the sanctioned countryโs foreign trade, Iranโs importers point to the necessity of stable regulations to continue trade via cryptocurrencies.ย On Aug. 20, local reportsย cited the head of Iranโs Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use cryptocurrencies for imports: โThe question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two…
No Safety Net From Crypto Collapses, German Regulator Warns
BaFin has toughened its warnings about consumers potentially losing all their money invested in crypto because they are unprotected, unlike holdings with regulated banks. Source
Bitcoin mining to cost less than 0.5% of global energy if BTC hits $2M: Arcane
Bitcoin (BTC), the worldโs most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research. Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoinโs energy usage toward 2040. Authored by Arcane Research analyst Jaran Mellerud, the report points out that Bitcoinโs future energy consumption differs massively depending on the future Bitcoin price alongside factors like transaction fees, electricity prices and others. If the BTC…
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Bitcoin's Weekly Chart Shows Bear Market Likely to Worsen or Does It?
The upcoming weekly chart bearish crossover has a perfect record of trapping sellers on the wrong side of the market. Source