The price of bitcoin took a hit on Thursday (Nov. 4) in London as investors took in the U.S. Federal Reserve’s plan to decrease how many bonds it purchases, Yahoo reported. The Fed wants to cut its pace of asset purchases by $15 billion per month, as of this month. Because of that, the Treasury purchases will go from $80 billion to $70 billion, and government-backed mortgage security purchases will also go down from $40 billion to $35 billion. As of the announcement, bitcoin had lost… Source link

High transaction fees have been a persistent thorn in the side of investors and blockchain projects since at least 2014 when Ethereum Network co-creator Vitalik Buterin stated in reference to Bitcoin, “The ‘Internet of Money’ should not cost $0.05 per transaction. It’s kind of absurd.”  Fast forward to November 2021 and the simple act of approving a token so that it can be transacted on Uniswap can cost as much as $50 worth in Ether (ETH)  depending on the time of day. Average… Source link

Bitcoin’s (BTC) 90% year-to-date gain was largely fueled by the United States Securities and Exchange Commission’s (SEC) recent exchange-traded fund (ETF) approval and in the first 48-hours of listing, ProShares’ Bitcoin Strategy ETF (BITO) was able to amass $1.1 billion in assets under management. On Nov. 1, the U.S. Treasury released its stablecoins report, which basically urged Congress to regulate the industry. In short, the working group expects government agencies to require… Source link

Ethereum is the second-largest cryptocurrency by market capitalization rate, and as such, it is often the second blockchain-based project lawyers research after Bitcoin.  The Ethereum project is often an exciting revelation of blockchain technology’s applications, especially after becoming familiarized with the basics of what Bitcoin has to offer.  To sum things up, Bitcoin was created as a decentralized peer-to-peer cryptocurrency. It uses a… Source link

Ethereum (ETH-USD) set a new record high for yet another consecutive day on Thursday, riding at least two macro themes entrenching themselves within the cryptocurrency sector. The second largest cryptocurrency traded above $4600 before paring those gains, but has logged record highs over the past week — thanks in part to the rising popularity of non-fungible tokens (NFT) and Decentralized Finance (DeFi) projects. Over the last year, ether has outperformed bitcoin, gaining more than… Source link

It’s been a broadly bearish morning session for Bitcoin and the broader market. At the time of writing, Bitcoin, BTC to USD, was down by 2.39% to $61,397.0. A mixed start to the day saw Bitcoin rise to an early morning high $63,067.0 before hitting reverse. Falling well short of the first major resistance level at $64,252, Bitcoin fell to a late morning low $61,277.0. Steering clear of the first major support level at $60,862, however, Bitcoin revisited $61,900 levels before easing back. The… Source link

The fed’s move to taper bond purchases affected bitcoin’s recent rally. Photo: Avishek Das / SOPA Images/Sipa USA The bitcoin (BTC-USD) price swooned on Thursday in London as investors digested the news that the US Federal Reserve plans to taper its $120bn (£88bn)-a-month in bond purchases.  This marked the first tentative steps towards winding down its post-COVID money-printing programme that had spurred on many crypto bets — with investors buying bitcoin as a hedge against… Source link

The topic of digital currency has been a hot-button issue for the last several years. With the rise of e-commerce from online shopping and selling, the creation of e-currency, or, as it is better known as cryptocurrency, was inevitable. Well-known platforms like Bitcoin have been a trailblazer in the digital currency market for popularizing the concept of buying and selling via electronic mechanisms known as blockchains. Bitcoin utilizes blockchains like memory links, and it records the… Source link

Ether (ETH) bulls are probably very pleased with the 368% gains accrued so far in 2021 and it seems like not a day passes where the altcoin doesn’t hit a new all-time high.  Even with Ether on the path to $5,000, there are still plenty of concerns about the network’s capability to absorb the strong demand coming from the decentralized finance (DeFi) and non-fungible token (NFT) sector. Another potential setback laying ahead is the United States Treasury report on stablecoin regulation… Source link

Litecoin is one of the oldest coins in the crypto space and yet it is one of the most struggling coins. While most of the altcoins marked new all-time highs during this bull run, Litecoin once again failed to do so. So, can the awaited moment occur anytime soon? Litecoin’s resistance The $200 resistance has been a huge problem for the altcoin for almost 6 months now.  Ever since the drop from its May all-time high, it has been struggling to breach through it. Despite a successful… Source link