Bitcoin (BTC) has bounced 11% from the $39,650 low hit on Jan. 10 and, currently, the price is battling with the $44,000 level. There are multiple explanations for the recent weakness, but none of them seem sufficient enough to justify the 42% correction that took place since the Nov. 10 all-time high at $69,000. At the time (Nov. 12), negative remarks from the U.S. Securities and Exchange Commission (SEC) were issued at the rejection of VanEck’s physical Bitcoin exchange-traded fund (ETF)…. Source link

What happened  After a rough start to the year, the cryptocurrency market jumped early on Wednesday as the markets rose and fears eased about the Federal Reserve dropping surprises on the market after Chair Jerome Powell’s testimony in front of Congress.  The dollar price of Bitcoin (CRYPTO:BTC) was up 3.2% in the last 24 hours as of 1 p.m. ET after jumping as much as 4%. Ethereum (CRYPTO:ETH) was up as much as 5.4% and is currently up 5.2%, Solana

The largest digital asset by market value rose as much as 3.3 percent to $44,085 Wednesday. By Vildana Hajric and Emily GraffeoBloomberg Published On 12 Jan 202212 Jan 2022 Bitcoin climbed above $44,000 for the first time in a week as the most U.S. inflation in four decades revives the debate about whether the cryptocurrency is a hedge against rising consumer prices. The largest digital asset by market value rose as much as 3.3% to $44,085 Wednesday, following the release of the consumer price… Source link

The relative strength index (RSI) on the four-hour chart is approaching overbought levels, similar to what occurred in late December, which preceded a brief pullback. The RSI on the daily chart, however, continues to rise from oversold levels, which means buyers could remain active on price dips. Source link

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