Sellers remain in control Theprice of bitcoin moved lower after Chinacontinues to put the pressure on crypto mining. Thelow reach $31,700. Looking at the hourly chart, the lows did dipped below alower channel trend line (currently at $32,080), butwas not able to extend toward the earlier June low price...
This was news out (prior to) over the weekend, not fresh news now. Sichuan is a southwestern province in China, most minersuse hydropower to mine and transact in BTC and other crypto. Nevertheless, another crackdown (other pprovincesd have previously tightened regulation). Over the weekend BTC/USD dropped (briefly) under US$33.5K...
The price remains below the 200 day moving average above and above a key retracement level below The price ofbitcoin is ending Friday on a down note. The price is currently down around $2300 or 6.04% at $35,483. The low price just reached $35,153.16. Looking at the daily chart,...
Bitcoin continues to chew into Sunday’s gain Bitcoin edged below the earlier lows in a fall to $36,780, down about $1000 on the day or 2.5%. It’s the third day of selling after a failure to climb above $41,000 mid-week. The big move that started with Musk tweeting about...
The report came out overnight, so not breaking news at all. According to three local media sources: City of Ya’an, one of the major crypto mining hubs in China’s Sichuan province, “Officials from related authorities, including the city’s energy bureau and technology bureau, had a meeting and decided to...
Cornell UniversityprofessorEswar Prasad wrote a piece earlier in the New York Times on Bitcoin, triggering a huge backlash on social media. 1. Bitcoin mining is energy-intensive, as is the process required when transactions are validated on the bitcoin blockchain, …. is “certainly not good for the environment”. he recommendsEthereum...
Crypto also feeling the volatility today Bitcoin rose as high as $39,554 today but is now at a session low at $37,710. That’s the lowest since Elon Musk gave it another lift on Sunday. Unlike some commodity markets, bitcoin is comfortably within recent ranges. I worry though that the...
An overnight piece on the cryptocurrency index fund manager raising $70m from an institutional investor, & 30 individuals Some big names in this: Henry Kravis Stanley Druckenmiller Bridgewater CEO David McCormick Bitwise has more than US$1.2 bn in assets under management is focused on servicing long-term investors seeking exposure...
Various provinces in China have been making life very difficult indeed, even impossible, for crypto miners. This from only a week ago: China has acknowledged it’ll lose miners to the US and Canada: Texas, though, is welcoming miners: power sources (ice storms notwithstanding),rates are inexpensive friendly regulations Bitcoin mining...
Bitcoin broke back above $40,000 yesterday but can it hold? Bitcoin price action continues to center around Elon Musk’s mood for the most part, though the cryptocurrency also got a bit of endorsement from Paul Tudor Jones yesterday. The latest push up in the price is encouraging as it...