Day: October 17, 2022

Bitcoin mining difficulty hit an all-time high even with depressed prices

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Bitcoin’s mining difficulty rose to an all-time high last week for the second time in a month, which is great for the health of the network but has been putting pressure on crypto miners. It now requires 35.6 trillion hashes to mine one bitcoin. That’s about 13.55% higher than the previous difficulty adjustment two weeks ago and the highest adjustment in more than a year, CryptoQuant. The difficulty algorithm is programmed in the Bitcoin code to stabilize the network by ensuring each coin is mined at a steady pace of…

Bitcoin price edges closer to $20K as ‘way worse’ US data boosts stocks

Bitcoin (BTC) headed toward $20,000 as United States equities gained at the Oct. 17 Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Stocks climb as U.S. dollar heads lower Data from Cryptox Markets Pro and TradingView showed BTC/USD reaching $19,672 on Bitstamp, up 3.5% versus the weekend’s lows. The pair rose in line with stocks, with the S&P 500 and Nasdaq Composite Index gaining 2.7% and 3.2%, respectively within thirty minutes’ trading. The action combined with weak U.S. economic data in the form of the Empire State Manufacturing…

How to Launch a Cross-Chain NFT Marketplace?

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NFTs are the new big thing in the world of cryptocurrency, and there are already a few big players in the space. However, there is room for more competition, and this article will show you how to launch your own cross-chain NFT marketplace. With a little bit of planning and some coding knowledge, you can be up and running in no time!   What Is a Cross-Chain NFT Marketplace? A cross-chain NFT marketplace is a digital marketplace that allows users to buy, sell, or trade non-fungible tokens (NFTs) that are…

Post-midterm elections dump? Bitcoin will see $12K if this 2018 BTC chart fractal is correct

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While Bitcoin (BTC) investors may not consider the U.S. midterm elections as a significant event, an eerie fractal from 2018 may provide a clue to what could happen before the year ends. Bitcoin to hit $12K–$14K after midterms? Comparing Bitcoin’s price actions prior to the midterm elections of 2018 with those of 2022 shows a strikingly similar bear market trend. For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as support, only to break below it after the midterm elections. BTC/USD daily price chart…

TOP 5 Cryptos To Watch This Week

In previous weeks, the crypto market looked like it was set to lose its key support with major altcoins such as Bitcoin (BTC), Ethereum (ETH), and other altcoins at the brick of losing their support area holding price sell-offs. Despite the uncertainty, some altcoins have continued to look green at the face of any litmus test. Let us discuss on top 5 cryptos you should pay attention to this week. Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and never…

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How decentralized exchanges have evolved and why it’s good for users

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Decentralized exchanges (DEXs) first appeared in the cryptocurrency industry in 2014, allowing users to trade a wide number of assets peer-to-peer. However, the first iterations of these platforms could be difficult to use. But, since their inception, developers have worked to make them easier and more accessible for users. Decentralized exchanges work by using smart contracts to fulfill orders placed by traders, allowing users to trade directly with each other instead of relying on a centralized platform. Unlike a centralized exchange (CEX), when traders engage with a DEX, their funds…

Close to 60,000 BTC Erased From Bitcoin Treasuries in 9 Months, 4 Entities Hold More Than 100K BTC – Bitcoin News

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During the last two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoin stored in these types of treasuries dropped by 57,481 bitcoin, worth around $1.1 billion using today’s exchange rates. $1.1 Billion Worth of Bitcoin Has Been Removed From the Treasuries List On October 17, 2022, 65 companies, ETPs, and countries hold bitcoin (BTC) on their balance sheet. The data stems from the bitcoin treasuries list,…