Bitcoin (BTC) may have rallied to $44,000 on the back of United States inflation data, but according to traders, there is little hope of a sustained comeback. In a Twitter discussion on Jan. 12, data analyst Material Scientist warned that a significant downside may still return to Bitcoin price action. “Now we wait” Despite showing stength since bouncing at $39,600, BTC/USD has yet to convince most analysts that its overall downtrend has ended. After U.S. inflation data came in at 7%… Source link

Cryptocurrency mining is incredibly expensive. It requires you to spend thousands in buying expensive GPUs (or ASICs), arranging them together, and spending more to buy power supplies and other computer components. However, not all cryptocurrencies require this much hashing power. At its core, mining is all about solving complex mathematical problems. For every complex equation solved, miners receive a small “fee” for their efforts. Mining is important as it helps verify transactions on… Source link

Text size Przemyslaw Ceglarek/Dreamstime.com Bitcoin will likely rally again. But it has… Source link

As crypto prices recover after a slump last week, Pascal Gauthier, CEO of crypto wallet firm Ledger, addressed questions relating to the state of the crypto market. In an interview taken by CNBC at the Crypto Finance Conference in St. Moritz, Switzerland, Gauthier said the situation panning out with Bitcoin (BTC) comes as no surprise. The retail trend is prominent and it’s “always the same.” He explained: “The number of addresses with the minimum number of BTC is actually growing… Source link

Over 9 million ETH are now deposited in the Ethereum 2.0 deposit contract. At today’s price, that is nearly $30 billion in capital looking to secure the proof-of-stake network and gain further exposure to Ethereum’s native asset. This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its sweeping impact on crypto markets. Subscribe to Valid Points here. However, those 9 million staked ETH really represent 280,000 active validators… Source link

Even after falling nearly 40% from its recent high, Bitcoin (CRYPTO:BTC) has been a fantastic investment to own in recent years. Since January 2017, the world’s top cryptocurrency has surged more than 4,500% and now sports a total value of about $800 billion. During the same time, the S&P 500 increased by 103%.  If you’ve been on the sidelines, you might be wondering if it’s too late to get in on this burgeoning asset class. I don’t think it is,… Source link

Cryptocurrency has been off to a rough start this year. After reaching an all-time high in November, the price of Ethereum (CRYPTO:ETH) has plummeted by more than 35% since its peak. It’s not the only one crashing, either. After the Federal Reserve cautioned that it could soon roll back pandemic-era stimulus measures in order to combat rising inflation, the entire crypto market saw a massive sell-off. Crypto prices have also been hit as more countries… Source link

Bitcoin (BTC) investors are voting with their wallets as one-day outflows from major exchanges near 30,000 BTC.  Data from on-chain analytics firm CryptoQuant shows that on Jan. 11, 29,371 BTC left exchange order books — the most since Sep. 10. The four-month high in outflows corresponds to short-term optimism returning on Tuesday as BTC/USD bounced and maintained levels above $42,000. The pair subsequently went on to hit local highs of $43,150 before consolidating, this nonetheless a… Source link

The main purpose of the fund will be to defend developers from from lawsuits regarding their activities in the Bitcoin ecosystem, Dorsey wrote in an email to the bitcoin-dev mailing list dated Jan 12. Jan 12, 2022 at 6:27 a.m. UTC Updated Jan 12, 2022 at 6:27 a.m. UTC Jack Dorsey (Eva Marie Uzcategui/Bloomberg via Getty Images) Source link

“First Mover” hosts spoke with Kevin O’Leary, aka Mr. Wonderful, for his view on the booming NFT market and the DeFi space. In addition, venture investor and Pantera Capital Partner Paul Veradittakit shared his crypto outlook for 2022. Plus, CoinDesk Managing Editor for Global Policy and Regulation Nikhilesh De shared the latest investigative report on Trump-era crypto policy. Source link