Bitcoin‘s (BTC -0.62%) price hit an all-time high of $67,567 last November. But today it trades at about $18,000. The world’s top cryptocurrency lost its luster as inflation, rising interest rates, and other macro headwinds drove investors away from riskier investments. That decline also crushed many Bitcoin-related stocks. Coinbase (COIN -3.63%), one of the world’s largest cryptocurrency exchanges, and Marathon Digital (MARA -10.60%), one of the market’s top Bitcoin mining companies, both… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt. With Sam Bankman-Fried charged and behind bars and FTX’s implosion beginning to fade (ever so slightly) into the rearview mirror, this week saw coin prices finally start to act normal. And that meant: just as turbulent as the stock market.  Bitcoin (BTC) and Ethereum (ETH) moved in lockstep with Wall Street this week, cresting on Wednesday in anticipation of a rosy interest rate update from the Federal Reserve, following… Source link

The Litecoin price has tanked further over the last 24 hours. On their respective charts, the prices of major altcoins reflect the price action of Bitcoin. As BTC slipped close to 3%, LTC also tanked nearly 8% on the daily chart. Recovery for Litecoin seems far-fetched from what the technical outlook suggests. A rise in Bitcoin’s price may help LTC for a while, but the altcoin’s demand must rise in order for the price to reverse. The short-term price thesis for LTC points towards… Source link

Ethereum fell below $1,200 to start the weekend, as prices continued to trade close to a multi-week low. This decline comes as market sentiment remained bearish following a big week of economic data. Bitcoin also extended recent declines, as traders remained nervous following news that financial auditor Mazars paused all work for crypto clients. Bitcoin Bitcoin (BTC) extended recent declines on Saturday, as markets continued to be nervous following recent uncertainty surrounding… Source link

During the European session, the Bitcoin price prediction hasn’t changed much today, as BTC continues to trade above the major support level of $16,550. Given the bullish technical indicators, the market is waiting for a key on-chain signal before launching into a classic bull market.  On December 17th, the developer of the Puell Multiple tweeted that he believes the current BTC price decline is nearing its end. However, not… Source link

Bitcoin (BTC) only needs one more key on-chain signal for a classic bull market to begin, analyst David Puell says.  In a tweet on Dec. 17, the Puell Multiple creator argued that the stage is almost set for the end of the BTC price bear market. Puell: Bitcoin network activity “underwhelming” Despite many calling for new BTC/USD lows of $12,000 or less this cycle, not everyone is wholly bearish on the outlook for Bitcoin. For Puell, two essential on-chain phenomena necessary for BTC price… Source link

Widely followed cryptocurrency analyst Benjamin Cowen is warning that Ethereum (ETH) may collapse due to at least one big economic worry. In a new strategy session, Cowen tells his 779,000 Youtube subscribers that the leading smart contract platform could decline by more than 65% from its current price of $1,174. “I do think you’re still looking at a leg lower here on Ethereum’s valuation against the US dollar. I think around that $400-$600 range is a good spot to begin… Source link

The head of digital assets research at global investment behemoth VanEck, Matthew Sigel, is predicting wild fluctuations for Bitcoin (BTC) over the coming months. Starting with a bearish forecast, Sigel says in a post detailing his crypto predictions for 2023 that Bitcoin could fall to between $10,000 and $12,000 in next year’s first quarter. According to Sigel, Bitcoin miners are currently unprofitable and the resulting bankruptcies will trigger a crash in the flagship crypto… Source link

After the spectacular collapse of the U.S. cryptocurrency exchange FTX, investor confidence in the cryptocurrency ecosystem is very low. Hence, the ongoing media reports and social media rumors about higher-than-usual outflows from the world’s largest crypto exchange Binance are raising alarm bells among crypto investors and the wider investing community. Binance’s controversial proof of reserves report, intended to calm investors down, has seemed to further fuel speculation about the… Source link

The Twitter account belonging to early Bitcoin contributor and adopter Hal Finney has been reactivated after twelve years of inactivity. Finney was the first individual to receive a blockchain transaction from Bitcoin creator Satoshi Nakamoto in 2009. He continued to use and contribute to Bitcoin until he passed away from ALS complications in 2014. Finney’s Twitter account has been dormant since 2010. Concerns emerged in recent days that the account could be deleted under Elon Musk’s… Source link