The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low. The deteriorating market conditions have also affected Bitcoin (BTC) mining profitability adversely, forcing miners to liquidate their BTC holdings. New data from Arcane research shows that public Bitcoin mining firms sold 100% of their BTC production in May compared to the usual 20-40% earlier. In the first four months of 2022,… Source link

Text size Bitcoin’s fair value has been gradually rising. Dreamstime Bitcoin is now undervalued, according… Source link

Image source: Getty Images Peter Brandt says he wouldn’t even buy ETH with ‘enemy’s money.’ Key points Peter Brandt tweeted that Ethereum might fall over 70% to $300. The last time Ethereum was worth $300 was July 2020. Crypto markets face a number of pressures, which show no signs of abating… Source link

Monero receives an average long-term technical score of 60 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity. XMR currently holds a superior long-term technical analysis… Source link

These are tough times for cryptocurrencies. Their prices are hovering around their levels in the latter months of 2020, which now feels like a world ago. The trading platforms that invite the masses to buy and sell them are laying off workers in droves as their stock prices tank and, in some cases, they prevent customers from making withdrawals. Their stablecoins have turned out to be something less than stable. One case for crypto, that it is less susceptible to manipulation and corruption… Source link

Vitalik Buterin. Source: a video screenshot, Lex Fridman / YouTube   Ethereum (ETH) co-founder Vitalik Buterin has said he is “definitely” worried about centralization risks following The Merge, the event when the current Ethereum Mainnet merges with the beacon chain proof-of-stake (PoS) system. The Ethereum mastermind noted that Lido Finance, the largest provider of staking services for Ethereum, where around a third of staked ETH… Source link

“Opinion amongst investors is extremely polarized, with some seeing this as a great buying opportunity, while others are spooked, liquidating positions,” James Butterfill, head of research at CoinShares, told CoinDesk in an email. “Fund flows are likely to remain mixed.” Source link

“This recovery removes some of the extreme oversold nature of the cryptocurrency,” said Alex Kuptsikevich, a senior market analyst at FxPro. “Still, it will be too early to talk about a long-term reversal: All negative fundamentals remain. Until sharp monetary policy tightening becomes the norm, financial market pressures can quickly negate bounces in cryptocurrencies.” Source link

As the trading activity has picked up in the cryptocurrency market over the last two days, the prices of some virtual currencies are rising and gaining traction among crypto enthusiasts. At 10 AM EST, Monero (XMR) crypto appeared to have caught the attention of potential investors as its price gained 8.3 per cent, trading at US$ 124.13 per token. Also Read: SNX crypto price soars 100% & volume rockets over 700%: Here’s why After dropping significantly over the past two weeks, the valuation… Source link

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