Westport, Connecticut police assisted a crypto investor in reclaiming over $3 million in Bitcoin (BTC) after they fell victim to a high-profile financial scam. Westport police thwart BTC scam In May, the Westport police reportedly initiated an investigation following a report from a victim, who had been persuaded to transfer funds from their retirement account to a Kraken crypto exchange wallet address January, as stated by Lt. Eric Woods in a news release. Between January and March, the victim discovered that over $3 million worth of Bitcoin had been withdrawn and…
Category: Bitcoin News
SEC hustles to delay Bitcoin ETFs amid looming government shutdown
The U.S. Securities and Exchange Commission delayed multiple decisions on proposed spot Bitcoin (BTC) ETFs ahead of a possible government shutdown. Pending applications from VanEck, WisdomTree and Fidelity were all delayed on Sept. 28, per The Block. The regulator said it was instituting additional proceedings to determine whether the proposed ETFs should be approved or disapproved. The SEC asked for input from commentators, who have 21 days to submit written data, views, and arguments. There’s another 35-day rebuttal period, which suggests the approval process will drag on for at least…
Quarterly Investment Guide 4Q 2023: Bitcoin outlook
Patient bitcoin investors may have to hold their composure for at least another quarter as the Federal Reserve’s outlook on interest rate policy dampens what might have been an even stronger month for the cryptocurrency. Bitcoin has had a difficult but decent year so far. The flagship cryptocurrency is up more than 60% for the year, according to Coin Metrics, thanks to a big run up in the first quarter. Not much has happened since, however. Bitcoin is down about 5% since April 1, and subsequent gains from any of…
28% of Bitcoin hash rate supplied by public miners
In data referenced by Bloomberg Intelligence, it was reported that public miners now make up 28% of Bitcoin’s global hash rate. Jamie Coutts, the analyst, shares that this presents an evolution to the industry, introducing new opportunities and challenges to the network, including higher prices in the West and potential to overload fragile energy grids in more affordable countries. Small scale miners are still critical Simultaneously, Coutts shares that small-scale miners are still critical to ensure the crypto industry remains decentralized and less fragile. According to @hashindex, public miners are…
Bitcoin BTC Price Tops $27K, ETH, COMP, AAVE and ARB Outperform
“My baseline scenario is bitcoin to move higher and eventually move past that $31,000-$32,000 barrier,” Kampenaer said. But it has to happen in the next 6-8 weeks, he added, otherwise the level could put a lid on BTC’s price for a longer time. “If it remains suppressed and under that barrier, it becomes stronger and more difficult to break.” Original
Bitcoin, XRP Price Receive Boost After Coinbase Announcement
The Bitcoin and XRP price are showing some green on low-timeframes as certain narratives around the crypto space gain momentum. The cryptocurrencies stayed about two critical levels and could be poised to extend the trend in the coming days. As of this writing, the XRP price trades at $0.50 with a 1% profit in the last 24 hours. In the meantime, Bitcoin recorded a 2.4% profit over a similar period, but the number one cryptocurrency by market cap could underperform XRP and other altcoins. XRP’s price trades to the upside…
Bitcoin—a risk asset and safe haven—is worth owning at these levels, says Wolfe Research
Bitcoin has long perplexed investors with its ability to act as both a store of value and a high risk asset, but Wolfe Research says it’s worth owning either way and to lean into the nuance. There’s been a fog over the price of bitcoin this year. It’s remained in a tight range between $25,000 and $30,000 and fluctuated between acting like a risky tech stock and a type of digital gold. It isn’t the first time bitcoin’s narrative has wavered, and it may be time for traders to embrace…
Bitcoin Price (BTC) Observers Warn of Risk Aversion as Oil Prices Top $93
Higher oil prices are often transmitted to retail fuel prices, raising key inflation metrics like the Consumer Price Index (CPI). That, in turn, weighs over households’ disposable income. Less disposable income means weak consumption, economic growth, and less inclination to invest in high-risk, high-reward assets like bitcoin and technology stocks. It’s notable that Bitcoin’s positive correlation with stocks has recently made a comeback. Original
Bitcoin (BTC) Needs ‘Chaos’ in Broader Markets to Grow, Trader Says
FxPro markets analyst Alex Kuptsikevich told CoinDesk in a daily note that while cryptocurrencies saw increased buying equity markets were under the most pressure as the dollar was gaining momentum. However, this momentum didn’t last long, which dampened bullish outlooks. Original
Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key
Bitcoin price attempted a fresh increase above the $26,500 resistance. However, BTC failed to settle above $26,700 and reacted to the downside. Bitcoin is still struggling to clear $26,500 and $26,700. The price is trading above $26,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could again climb higher unless there is a close below $26,200 and $26,000. Bitcoin Price Faces Uphill Task Bitcoin price…