On Feb. 1 and Feb 2. Bitcoin’s (BTC) price surpassed even the most bullish price projections after the U.S. Federal Reserve (FED) announced plans to raise interest rates by 25 basis points.  Even though FED chair Jerome Powell told investors not to wait for interest rate cuts in 2023, during his press conference he did clearly state that the employment data is currently the main focus. The results of the ADP payroll survey revealed on Feb. 1 that U.S. private sector hiring was significantly… Source link

Dennis Diatel Photography/iStock Editorial via Getty Images Thesis Summary Ethereum (ETH-USD) has rallied strongly with the broader crypto market, and it seems like a bottom could be in. If this is the case, and you feel like you missed the boat, there’s no need to worry. History suggests there will be a chance for investors to get in at more favorable prices. Furthermore, given the current fundamental and technical outlook, I believe Ethereum could outperform Bitcoin (BTC-USD) in 2023,… Source link

MicroStockHub/E+ via Getty Images Bitcoin (BTC-USD) is extending its noteworthy year-to-date price gains in Thursday afternoon trading, flirting with the $24K multi-day technical resistance level, as the broader cryptocurrency market attracted further buying pressure on the heels of Fed chief Jerome Powell’s disinflation comments. The global crypto market cap, jumped 5.8% to $1.10T, reaching the highest level since August 2022, according to CoinMarketCap data. That was largely boosted… Source link

A leading crypto analytics firm is suggesting that Fantom (FTM), a top Ethereum (ETH) rival, is only in the beginning stages of a major rally. Smart contract platform Fantom is trading for $0.635 at time of writing, up 27% in the last 24 hours, and up over 164% since 2023 began. Leading crypto analytics firm Santiment says FTM has more than just short-term strength – they see promising long-term signs in FTM’s recent movements, as well. “If you dipped your toes in Fantom at… Source link

Ether (ETH) has been struggling with the $1,680 resistance since Jan. 20. Still, the ascending triangle pattern and improvements in investor sentiment in ETH derivatives provides hope that Ether price could reach $1,800 or higher by the end of February. This, of course, depends on how the Ether price behaves as it reaches the pattern deadline by mid-February.  Ether/USD price index, 12-hour. Source: TradingView From one side, traders are relieved that Ether is trading up 33% year-to-date, but… Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

What happened Cryptocurrencies moved higher today after the market seemed to take to the Federal Reserve’s first meeting of 2023, which concluded yesterday afternoon. Since late afternoon yesterday, the price of the world’s largest cryptocurrency, Bitcoin (BTC 3.89%), traded roughly 1.4% higher and hovered around $23,800. Meanwhile, altcoin Litecoin (LTC 6.71%) traded more than 11% higher, while meme token Dogecoin (DOGE 3.93%) was up more than 5%. So what The Fed at the end of its meeting… Source link

Company mines a record 697 bitcoins for the month, up 50% from prior month and 129% from same prior year period; Company’s bitcoin holdings grow 32% LAS VEGAS, Feb. 02, 2023 (GLOBE NEWSWIRE) — CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”), America’s Bitcoin Miner™, today released its unaudited bitcoin mining and operations update for the month ending January 31, 2023. “We had a banner month, and not just because we mined a record number of bitcoin,” said Zach… Source link

Join the most important conversation in crypto and web3! Secure your seat today Ethereum layer 2 scaling system Optimism on Wednesday proposed a mainnet upgrade to boost performance and functionality, accelerating the rally in its governance token OP. “The Optimism Foundation is proud to propose the first protocol upgrade to the Optimism Collective: Bedrock,” the proposal floated in the governance forum said. “This upgrade offers a new level of modularity, simplicity, and Ethereum equivalence… Source link

Monero price moved sideways on Thursday as investors reacted to the latest interest rate decision by the Federal Reserve. XMR, the network’s coin, was trading at $180 on Thursday, a few points below this year’s high of $187. It has jumped by more than 22% from the lowest point in January.  Monero hash rate slipping Monero is a leading cryptocurrency in the privacy sector…. Source link