Month: December 2022

BTC price lurches toward $16K as stocks, dollar wobble in final session

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Bitcoin (BTC) teased more volatility at the Dec. 30 Wall Street open with BTC/USD heading ever closer to $16,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Will new year deliver “long-awaited volatility?” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking down to lows of $16,337 on Bitstamp. The pair had been gradually upping the volatility in the days after Christmas, as analysts eyed the likelihood of a final burst of action before the yearly close. “Last trading day of the year for TradFi, but crypto will trade through…

Bitcoin Will Trend Lower Because Whales Are Still Selling

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The impact of bitcoin whales and their activities has always been felt in the general market. This goes from buying to selling, and just the way they move their coins. Once again, these whales still hold sway in the market and their activity could spell a bottom signal. Santiment Says Bitcoin Whales Are Selling In a recent community post on the Santiment website, the activity of whales is analyzed in depth. This time around, a look at the balances of large holders shows that they are still selling. These whales…

How Bitcoin helped a couple start a family

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Bitcoin (BTC) gains helped “Noodle,” a London-based Bitcoiner, to afford in vitro fertilization (IVF) treatments for his family. Noodle’s story comes to life in the latest edition of Cointelegraph’s Crypto Stories. IVF treatments can be expensive, with success rates ranging from 4% to 38%, depending on various factors. Fortunately, profits from buying and holding Bitcoin provided the necessary funds for Noodle to start a family. Noodle, who first heard about Bitcoin in 2012, decided to sell some of his BTC to pay for IVF treatment for his wife. He favored…

Crypto Firms Underperform Bitcoin In 2022, Miners Hit Worst

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Data shows almost all the big public crypto companies have underperformed Bitcoin this year, with the mining firms taking an especially hard hit. Most Public Mining Companies Saw Drawdowns Of 90% Or More In 2022 As per the year-end report from Arcane Research, 2022 was a very challenging year for public firms in the crypto sector. The below chart displays the drawdowns in the valuations of some of the big players in the market, as well as that of Bitcoin, during the last twelve months: The deep red performance of…

Italian Parliament Approves 26% Crypto Gains Tax Under 2023 Budget

According to the new rules, any capital losses from crypto investments “are greater than the capital gains, for an amount greater than 2,000 euros, the excess is carried forward as a deduction in full from the amount of capital gains for the periods following, but not later than the fourth, provided that it is indicated in the declaration of income relating to the tax period in which losses have been realized.” Source

The Impact of Avraham Eisenberg’s Case on the Future of Crypto

Many observers, and perhaps a jury, will say Eisenberg is a criminal and thief. And the fact pattern – all visible on the blockchain, detailed by Eisenberg’s own self-congratulatory tweets and described in SDNY’s criminal complaint – indicates he did indeed violate the letter of the law that prohibits market manipulation. However, it’s easy to imagine a scenario where without Eisenberg’s operation, the Mango protocol grows much larger and attracts more retail users, and it is North Korea, not Eisenberg, that exploits the protocol to drain user funds to pay…

Solana and Associated Tokens Down Over 96% From All-Time Highs As SOL Gets Delisted From Crypto Exchange

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Smart contract platform Solana (SOL) and other digital assets associated with it continue to freefall as a crypto exchange platform announces it’s going to delist them. According to crypto reporter Colin Wu, crypto exchange Matrixport will delist SOL and its accompanying digital assets starting December 30th, a move that sent the already-ailing cryptocurrencies on another downswing. Wu says that Matrixport will also not consider launching SOL products in the future. “Matrixport, the asset management platform founded by Jihan Wu, announced that it will delist SOL and SOL-U dual-currency investment products…

3 reasons why Bitcoin is likely heading below $16,000

December will likely be remembered by Bitcoin’s (BTC) fake breakout above $18,000, but apart from that brief overshoot, its trajectory was entirely bearish. In fact, the downward trend that currently offers an $18,850 resistance could bring the BTC price below $16,000 by mid-January. Bitcoin/USD price index, 12-hour. Source: TradingView A handful of reasons can explain the negative movement, including the reported withdrawal of Mazars Group auditing firm from the cryptocurrency sector on Dec. 16. The company previously handled proof-of-reserve audit services for Binance, KuCoin and Crypto.com. Additionally, one can point…