Month: August 2022

Bitcoin price gains 3.5% as US PCE data supports shrinking inflation

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Bitcoin (BTC) rose rapidly later on Aug. 26 as fresh economic data from the United States furthered hopes of a pivot from the Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bounces but preserves intraday trend Data from Cointelegraph Markets Pro and TradingView tracked a 3.55% rise for BTC/USD on the day, allowing the pair to match highs from earlier in the week. The move marked a surprise about-turn for Bitcoin, which hours before had seen selling pressure as markets awaited cues from Fed Chair Jerome Powell’s Jackson Hole…

Sell-Side Trims Targets for Bitcoin Miner Argo Blockchain

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Argo expects to sign a fixed-price power purchasing agreement in the next couple of months, which will both stabilize its electricity spending and allow it to sell power back to the grid, along with other peers, Wall said. The company continues to target a long term power rate of about $2.5 cents per kilowatt hour (kWh) in Texas, where their biggest mine is. The Jefferies team isn’t so sure, expecting power to cost $3.75 cents per kWh across Argo’s portfolio in the fourth quarter of this year and into 2023.…

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Bitcoin Approaching $22K, Market Gets New Reason to Celebrate?

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Bitcoin has gained $500 in the past hour as the U.S. potentially confirms what could be a short-lived peak in inflation metrics. The U.S. Central Bank, and the Federal Reserve (Fed), will hold an important event today, and the crypto market might see a bullish continuation. At the time of writing, Bitcoin (BTC) trades at $21,800 with a 1% profit in the last 24 hours and a 6% loss in the past 7 days. The cryptocurrency was rejected north of $22,000 and seems to be on track to re-test those…

Report Claims Russia and Iran Plan to Establish a Global Gas Cartel, Moscow to Launch Its Own Precious Metals Exchange – Economics Bitcoin News

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Following Russian president Vladimir Putin’s statements at the end of June that indicated members of the BRICS nations have formalized plans to create a new “international reserve currency,” Russia is reportedly building the foundations of a global gas cartel with Iran. Financial journalist and best-selling author Simon Watkins claims the “alliance aims to control as much of the two key elements in the global supply matrix as possible.” At the same time, Russia intends to create a precious metals exchange called the Moscow World Standard (MWS). US Dollar and Ruble…

How to tell if a cryptocurrency project is a Ponzi scheme

The crypto world has experienced an increase in Ponzi schemes since 2016 when the market gained mainstream prominence. Many shady investment programs are designed to take advantage of the hype behind cryptocurrency booms to beguile impressionable investors. Ponzi schemes have become rampant in the sector primarily due to the decentralized nature of blockchain technology which enables scammers to sidestep centralized monetary authorities who would otherwise flag or freeze suspicious transactions. The immutable nature of blockchain systems that makes fund transfers irreversible also works in the scammers’ favor by making it…

Bitcoin (BTC) – Análise de fim de tarde, 19/08/2022! #BTC #bitcoin #XRP #ripple #ETH #Ethereum #BNB

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Celsius bankruptcy proceedings show complexities amid declining hope of recovery

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The Celsius Network is one of many crypto lending firms that has been swept up in the wake of the so-called “crypto contagion.”  Rumors of Celsius’ insolvency began circulating in June after the crypto lender was forced to halt withdrawals due to “extreme market conditions” on June 13 and eventually filed for chapter 11 bankruptcy a month later on July 13. The crypto lending firm showed a balance gap of $1.2 billion in its bankruptcy filing, with most liabilities owed to its users. User deposits made up the majority of…

Why September is shaping up to be a potentially ugly month for Bitcoin price

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Bitcoin (BTC) bulls should not get excited about the recovery from the June lows of $17,500 just yet as BTC heads into its riskiest month in the coming days. The psychology behind the “September effect” Historic data shows September being Bitcoin’s most worst month between 2013 and 2021, except in 2015 and 2016. At the same time, the average Bitcoin price decline in the month is a modest -6%. Bitcoin monthly returns. Source: CoinGlass Interestingly, Bitcoin’s poor track record across the previous September months coincides with similar downturns in the…