Bitcoin price declined over 10% and even spiked below $18,000. BTC remains at a risk of more losses, as the FTX faces more heat. Bitcoin started failed to recover ground and declined over 10%. The price is trading below $19,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $18,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards the… Source link

KanawatTH/iStock via Getty Images Thesis Summary Bitcoin (BTC-USD) has just sold off, going as far as breaking below the June low. This can be attributed partly to the recent debacle between FTX (FTT-USD), Alameda and Binance (BNB-USD). However, this can also be explained by technical analysis, and I was personally expecting a sell-off like this. Another Liquidation Event The recent sell-off has coincided with increased concerns that FTX could become insolvent, which became an issue when… Source link

After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 and most altcoins are following suit.  While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculate that FTX’s losses could show a $6 billion deficit. This price decline breaks Bitcoin’s short-term correlation to the stock market, with the tech-heavy Nasdaq down only 0.32%, while the Dow… Source link

Alex Dovbnya The Bitcoin price has collapsed to a new yearly low amid the FTX drama The price of Bitcoin crashed to a new yearly low of $17,114 on the Bitstamp exchange before paring some losses.  Image by tradingview.com The largest cryptocurrency is now down as much as 15.7% over the last 24 hours.     The cryptocurrency market has been hit extremely hard by the FTX drama. As reported by U.Today, Binance agreed to acquire its arch-rival earlier today after it turned out that the… Source link

In this article, we discuss the 11 best Bitcoin stocks to buy now. If you want to skip our detailed analysis of the crypto industry and outlook for future growth, go directly to 5 best Bitcoin stocks to buy now. In November 2021 Bitcoin’s value reached an all-time high, $68,990 before closing at $64,995. However, due to rising inflation and pressure from macroeconomic forces, Bitcoin fell to $46,164 in mid of December 2021. Between January and May 2022, the digital currency continued to… Source link

Ahmad Abu Daher repairing mining equipment in the basement of a home in Zaarouriyeh. Ahmad Abu Daher It takes a lot to keep a grassroots cryptocurrency mining business up and running in Lebanon. Ahmad Abu Daher says he and his team of more than 40 Lebanese and Syrian employees are working around the clock to man thousands of machines across the country. “We can’t sleep. We can’t have any break,” the 22-year-old Abu Daher told CNBC at 2:36 A.M. Lebanon time. “All of my team are still awake. They… Source link

United States law enforcement officials announced on Monday that the U.S. Department of Justice (DOJ) seized “approximately 50,676.17” bitcoin from a Silk Road thief. The latest seizure adds to the cache of bitcoins the U.S. government holds today as three forfeitures during the last two years have led to a stash of around 214,682 bitcoin worth $4.22 billion using today’s bitcoin exchange rates. After 3 Major Forfeitures, U.S. Law Enforcement Officials Hold More Than 1% of… Source link

News Home Tuesday, November 08, 2022 11:32 AM | InvestorsObserver Analysts InvestorsObserver gives Litecoin a strong long-term technical score of 69 from its… Source link

Regarding what could be next for Sam Bankman-Fried and his team, the firm would “shift focus to the US market, where they have been spending disproportionate time in the last few months,” Bernstein analyst Gautam Chhugani said in a note to clients. “However, they lose the cash machine of the FTX international exchange, which was enabling investments in the US entity,” Chhugani wrote, adding that a regulatory presence would also lessen. Source link

Since their emergence, cryptocurrencies have played a significant role in the global financial system. This has resulted in the creation of many different coins, all of which are in a competitive position to provide unparalleled services to their respective user bases. Ethereum (ETH), Litecoin (LTC), and Big Eyes Coin (BIG) are just a few of the cutting-edge platforms that have emerged to help provide greater functionality to the cryptocurrency market. This… Source link