The Bitcoin–(BTC 1.73%)-versus-gold debate is heating up again after Wall Street investment bank Goldman Sachs (GS 0.20%) released a new research note documenting all the reasons it views gold as a better investment than Bitcoin. With Bitcoin down about 64% for the year, it’s easy to see why Goldman Sachs has soured on the cryptocurrency.  As Goldman Sachs argues, there is simply too much speculation and volatility surrounding Bitcoin. On top of that, the original cryptocurrency has failed… Source link

The cryptocurrency market is known for its volatility. We’ve seen the market demonstrate this over and over in the year 2022, with significant occurrences like the Luna crash, the Tornado cash saga, and the most recent happening in November, the FTX saga. Market prices are still down over 80% of their all-time high, and investors need more consideration to put their money into crypto projects. This article highlights the top five cryptocurrencies to invest in in 2022. These tokens are most… Source link

One of the largest US-listed bitcoin miners has filed for bankruptcy as companies battle falling token prices and rising costs for the energy-intensive business of churning out cryptocurrencies. Core Scientific filed for Chapter 11 bankruptcy protection in Texas, where it is based, on Wednesday. The company said it planned to keep operating and producing bitcoin while it hammered out a restructuring deal with its lenders and creditors. The Nasdaq-listed crypto miner is a constituent of… Source link

While the bear market is still in full swing, several experts are currently discussing when the “flippening” will happen. Flippening is described as the scenario where another cryptocurrency overtakes Bitcoin (BTC) in terms of market capitalization. Ethereum is considered the most likely option by many crypto investors – including Jordi Alexander, CIO of Selini Capital. In an interview with Crypto Banter, Alexander said that he’s not really a proponent of the flippening, but… Source link

© Reuters. Positive Sentiment Expected to Persist in Monero (XMR) as Prices Surge by 0.94% The bull run in the Monero market is expected to continue, according to technical indicators Bulls in XMR need to keep pushing prices higher to maintain the current uptrend The intraday peak of $147.91 presents resistance for the bulls Bulls gained control of the Monero (XMR) market after establishing support around $144.24, driving prices higher throughout the day. As of press time, the bulls had… Source link

Source: TradingView The Ethereum price has risen by 0.5% in the last 24 hours, slightly exceeding the wider cryptocurrency market’s increase over the same period. At $1,215.91, its current price represents a 7.5% drop in a week and 6% gain in a month, with these movements coming at a time of ongoing instability for the market, which continues to be plagued by rising interest rates and fears surrounding the financial health of… Source link

Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices. On Dec. 14, Financial services platform B. Riley offered to finance Core Scientific with $72 million — $42 million with zero contingencies and $32 million with conditions — to retain the… Source link

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However, that strategy had a “questionable impact” on driving outcomes for BIT. “The most performant DAOs (Lido, Aave, Uni) have been centered on underlying core products that have large addressable markets and longevity,” the proposal stated, calling for higher priorities on “core products” related to BitDAO instead. Source link

Core Scientific’s 104 megawatt Bitcoin mining data center in Marble, North Carolina Carey McKelvey Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for Chapter 11 bankruptcy protection in Texas early Wednesday morning, according to a person familiar with the company’s finances. The move follows a year of plunging cryptocurrency prices and rising energy prices. Core Scientific mines for proof-of-work cryptocurrencies like bitcoin. The process… Source link