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Bitcoin crested above $50,000 on Monday, benefiting from simultaneous supply chain shortages and a crackdown from Chinese regulators – putting bitcoin mining on par with profits near the coin’s April all-time-high.  Now, building infrastructure for the energy-intensive business poses the greatest challenge for companies and individuals hoping to reap big money. That means finding cheap and reliable energy sources, striking deals and building out mining facilities. “Throughout the summer,… Source link

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Cryptocurrencies were mostly lower on Tuesday after a period of extreme bullish sentiment has started to wane. After breaking above $50,000 earlier this week for the first time in three months, bitcoin slipped below $48,000 at press time and is down about 3% over the past 24 hours. Technical charts suggest support is nearby, which could stabilize the pullback and maintain the breakout move above $45,000.  Some analysts expressed caution after bitcoin failed to keep pushing higher above the… Source link

Ether (ETH) price rallied 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. Meanwhile, Bitcoin (BTC) could not sustain the $50,000 mark, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics. Surprisingly, the opposite situation emerges when looking at the sentiment of Ether traders who currently show a reasonable degree of confidence in the… Source link

Hedge funds and other large traders continued to pile into bearish bets on bitcoin last week even as the cryptocurrency extended price gains.  Leveraged funds ­ – typically hedge funds and various types of money managers – held 16,000 short positions in bitcoin futures listed on the Chicago Mercantile Exchange (CME) in the week ended Aug. 17, according to data released Friday by the U.S. Commodity Futures Trading Commission, as tracked by data analytics firm Skew. Each CME contract… Source link

Ether is a type of cryptocurrency, and Ethereum is the blockchain technology behind it. Ethereum; Alyssa Powell/Insider Ethereum is a general-purpose decentralized computing platform that uses blockchain technology. Ether (ETH) is Ethereum’s native currency, and it is currently the second-largest cryptocurrency by volume. Despite its popularity and wide applications, Ethereum remains a highly speculative investment. Visit Insider’s Investing Reference library for more stories.

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, August 24, 2021 A ‘maximalist’ vision of bitcoin means every company will be a crypto company. Oh what a difference a summer makes. Bitcoin’s (BTC-USD) slow but steady rebound from its spring lows saw the crypto unit top $50,000 on Monday, with the latest move greased by PayPal’s (PYPL) announcement that it would let U.K.-based… Source link

Monero (XMR), the largest privacy-focused cryptocurrency by market capitalization, has posted a 20% price surge following the launch of the Atomic Swap implementation program last week. On Friday, the Monero Project officially announced a rollout of the Atomic Swap implementation developed by the cross-blockchain protocol COMIT, aiming to simplify trades between XMR and Bitcoin (BTC). Following the launch of Monero Atomic Swaps, XMR has seen a notable surge, with its price rising from around… Source link

Ethereum Ethereum rose by 2.52% on Monday. Following a 0.47% gain on Sunday, Ethereum ended the day at $3,323.12. A mixed start to the day saw Ethereum fall to an early morning intraday low $3,233.19 before making a move. Steering clear of the first major support level at $3,155, Ethereum rallied to a late intraday high $3,378.60. Ethereum broke through the first major resistance level at $3,301 and the 23.6% FIB of $3,369 before a late pullback. The pullback saw Ethereum fall back through the… Source link