ANI | Updated: Jan 17, 2023 17:00 IST New Delhi [India], January 17 (ANI/ATK): Most traders in the crypto market are unsure about which coin to buy and whether to go for long-term or short-term investments. Analysts maintain that despite the widespread crypto collapse, it is simply a storm that will be followed by a bullish surge in 2023. To that end, we have gathered various… Source link

AKRON, Ohio, Jan. 17, 2023 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM) (“BIT Mining,” “the Company,” “we,” “us,” or “our company”), a leading technology-driven cryptocurrency mining company, today announced the launch of their state-of-the-art Litecoin (“LTC”) / Dogecoin (“DOGE“)  mining machine, model LD3 (“LD3”), which was specifically designed for mining on the DOGE and LTC blockchains. The power efficiency of 0.73 W/MH and 4800 MH/s delivery make the LD3 machine more profitable than… Source link

Bitcoin (BTC) hit new two-month highs overnight into Jan. 19 as suspicions over the market’s validity gained momentum. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Concern over BTC liquidity”exploit” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it consolidated above $21,000 after hitting $21,455 on Bitstamp. That marked the pair’s highest point yet in 2023, the latest accomplishment in a bullish recovery unchallenged since the FTX debacle. Amid… Source link

Bitcoin (BTC) has gained nearly 28% this month, hitting the highest since early November. The popular narrative on Crypto Twitter is that traders from Coinbase (COIN) have powered the cryptocurrency higher. However, the Nasdaq-listed exchange hasn’t been the only source of bullish pressures for the cryptocurrency. The Coinbase premium index, which measures the spread between Coinbase’s BTC/U.S. dollar (USD) pair and Binance’s BTC/USDT pair involving the tether stablecoin, turned positive last… Source link

“Regarding the average trade size, there has been a notable increase on Bitstamp, Kraken, Bitfinex and LMAX Digital and a slight increase on most other exchanges, including Binance, which suggest more whale-driven price action,” Clara Medalie, research director at Paris-based crypto data provider Kaiko, told CoinDesk in an email. Source link

Ethereum (ETH) Layer 2 (L2) networks spent a record-breaking 32 billion gas — a year-on-year increase of 22.8% — to validate transactions and activate bridges between Jan. 9 and Jan. 15, according to Dune Analytics data. Source: Dune Analytics Optimism (OP) contributed around 50% of the gas spent — with a seven-day moving average of 2.8 billion gas — followed by Arbitrum with about 30% of the share, according to Dune Analytics data. As of Jan. 17, L2 network gas expenditure on ETH… Source link

The Bitcoin (BTC) price rebound to a multi-month high has also positively affected mining stocks. Many crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also relieved the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity in 2022. Bitfarms — one of the top BTC mining firms — registered a 140% surge in the first two weeks of January 2023, followed by Marathon Digital Holdings with a 120% surge. Hive… Source link

Anthony Scaramucci, founder, SkyBridge Capital, explained that Bitcoin will reach $300K in six years Anthony Scaramucci, founder, SkyBridge Capital, is reportedly financing a crypto company that was established by FTX US’ previous president, as reported by Cointelegraph. Skybridge Capital is “pretty optimistic” about bitcoin and ethereum over the next 12 to 24 months. The global asset management firm’s founder explained that the world’s largest cryptocurrency Bitcoin will reach… Source link

Jan 17 (Reuters) – Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin. The No.1 cryptocurrency has clocked a 26% gain in January, leaping 22% in the past week alone, breaking back above the $20,000 level and putting in on course for its best month since October 2021 – just before the Big Crypto Crash. Ether has also risen, by 29% this year, helping drive the value of the overall global cryptocurrency market above $1 trillion,… Source link

Mike McGlone, Bloomberg’s senior commodity strategist believes Bitcoin (BTC) could be developing a  “bottom” in the same way it did prior to 2019’s bull run but said there is a major difference this time around. During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they’re still tightening along with “every central bank.” “Back then the Fed already started… Source link