Month: August 2022

Bitcoin’s Hashrate Skyrockets, Block Intervals Suggest a ‘Notable’ Difficulty Increase Is in the Cards – Mining Bitcoin News

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While bitcoin prices hover just below the $22K mark, the leading crypto asset has still shed more than 9% against the U.S. dollar during the last two weeks. Despite the lower prices, Bitcoin’s hashrate has jumped significantly in recent times and block intervals have sped up a great deal. The trend suggests that when the blockchain network’s difficulty changes four days from now, the shift could increase significantly higher as estimates show a 4.43% to 10.3% change. Bitcoin’s Hashrate Climbs Closer to June’s All-Time High, ‘Notable Difficulty Jump’ Expected At…

Hawkish Fed comments and Bitcoin derivatives data point to further BTC downside

A $750 pump on Aug. 26 took Bitcoin (BTC) from $21,120 to $21,870 in less than two hours. However, the movement was completely erased after comments from U.S. Federal Reserve Chair Jerome Powell reiterated the bank’s commitment to contain inflation by tightening the economy. Following Powell’s speech, BTC price dropped as low as $20,700.  Bitcoin/USD 30-min price. Source: TradingView At Jackson Hole, Powell specifically mentioned that “the historical record cautions strongly against prematurely loosening policy.” Right after those remarks, the U.S. stock market indexes reacted negatively, with the S&P 500…

Bitcoin Mining Winter Is Here

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Core Scientific CEO and Co-Founder Mike Levitt joins Emily Chang and Bloomberg’s Sonali Basak to discuss why Bitcoin mining companies are selling their Bitcoin holdings to improve liquidity and repay debt. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Regulators have a weak case against FTX on deposit insurance

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In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison, and issued a stark warning over the company’s messaging. Harrison’s original tweet said, “Direct deposits from employers to FTX US are stored in individually FDIC-insured bank accounts in the users’ names.” He added, “Stocks are held in FDIC-insured and SIPC [Security Investor Protection Corporation]-insured brokerage accounts.” Although Harrison stewarded FTX to its best-ever year in 2021, increasing revenue by 1,000%, the firm now…

Majority Of Ethereum Investors Maintain Profitability Despite Decline Below $1,700

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Profitability in digital assets such as Ethereum is important to investors in the space. With the decline following the bull market, a good number of ETH investors have seen the profitability of their holdings decline significantly. It had fallen below 50% when the price of ETH had broken below $1,000 last month. However, with the recovery at the beginning of August, Ethereum had rallied as high as $2,000, and now the majority are back in profit. 56% Of Investors In Profit The price of ETH had been rejected at the…

Millions of dollars in ETH lie unclaimed in presale wallets — but there’s a way to get them back

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Out in the cryptosphere, there’s a vast amount of wealth that’s seemingly out of reach. A long-running statistic suggests four million Bitcoin — almost 20% of the total supply — has been lost forever. Much of it was mined when the network was just beginning, with early adopters tearing their hair out after losing their private keys. One Welshman has endured a nine-year battle as he attempts to receive a hard drive containing 7,500 BTC from landfill.  But this isn’t the only treasure trove that’s worth exploring. For example, did…

Founder Of Polygon, Sandeep Nailwal, Raises $50M For Web3 Fund

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Polygon Founder Symbolic Capital is the newest venture company to strongly emphasize Web3, gaming, and NFTs. Sandeep Nailwal, the creator of Polygon and a cryptocurrency entrepreneur, has collected $50 million for a new startup fund targeted at Web3 firms, highlighting venture capital’s rising interest in the blockchain-powered internet. According to the business, Nailwal’s venture firm, Symbolic Capital, is supported by bitcoin protocols, exchanges, crypto-focused auditing companies, and other venture capital investors. Symbolic has invested in three blockchain-focused gaming startups: BlinkMoon, Planet Mojo, and Community Gaming. These businesses’ original investment has…

Powell Versus Bitcoin Price Log Curve

In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the Bitcoin logarithmic growth curve, the Power Law Corridor, and the 200/100/50-week moving averages. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 26, 2022 US Fed Reserve Chair Jerome Powell’s speech today is already having an impact on markets, with Bitcoin losing support at $21,000 and in danger of falling deeper into a bear trend. With the crypto market in doubt, in this video we zoomed out. Log Growth Curve Continues To Support…