Bitcoin

After chewing over the Fed’s hawkish, 75 basis point rate increase and deteriorating housing numbers, markets will be scrutinizing U.S. durable goods orders for September, the U.S. Conference Board’s latest consumer confidence index and August, new home sales. Economic observers widely expect durable goods orders to resemble last month’s total, and a drop-off in new home sales. On Friday, the University of Michigan releases its next consumer sentiment index, which measures consumer attitudes… Source link

The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks. Although Bitcoin (BTC) has only declined marginally this week, it risks closing at the lowest level since 2020. While a new multi-year weekly close is a negative sign, sellers will have to… Source link

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Deciding what to do with your Bitcoin, as prices continue to fall, can be tough. Many believe that the tide will eventually turn and if they hold on for long enough BTC will rise to new heights. The only problem with this is that while waiting for the market to bounce back, your BTC is… Source link

Virtual money, digital gold, inflation hedge, uncorrelated asset, store of value: those are phrases once used by Bitcoin’s fans to describe the cryptocurrency’s virtues. Its new narrative? A Bitcoin is a Bitcoin. That’s the expression that’s making its rounds on Twitter in recent days, where users, amid a deep decline in prices, have been posting that 1 BTC = 1 BTC. The idea is that it doesn’t really matter what the coin’s price is. Its supply is fixed and that should,… Source link

Bitcoin (BTC) headed for its lowest weekly close since 2020 on Sep. 25 as a week of macro turmoil took its toll. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader prepares for “important week” for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $19,000 with hours left to run on the weekly candle. While only down $400 since the week began, the pair offered traders little optimism amid fears that the coming days would continue the bleedout… Source link

Bitcoin and gold are both valuable assets that can be used to protect against inflation; nevertheless, there are important differences between the two in terms of their history, accessibility, and other sources of demand. Gold, undoubtedly, has a lengthy history and solid basis, while Bitcoin has barely more than a decade of existence to prove its worth as an inflation hedge. In November of last year, the price of a single BTC soared beyond $65,000, setting a new… Source link

Alex Dovbnya Mike Novogratz continues to see a strong bullish case for Bitcoin as many fiat currencies keep losing their value against the U.S. dollar After Bitcoin failed to act as an inflation hedge, its proponents are struggling to come up with another narrative, but Galaxy Digital CEO Mike Novogratz insists that the case for the world’s largest cryptocurrency is playing out “every day.” Novogratz has pointed to the fact that the Turkish lira, the Argentinian peso, and other… Source link

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets. Institutional interest in Grayscale dries up On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% discount, according to the latest data. GBTC discount versus spot BTC/USD price. Source: YCharts To investors, GBTC has long served as a great alternative to gain… Source link

Following what has been a turbulent week of trading, bitcoin prices consolidated to start the weekend. The token rose marginally above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum was also consolidating in today’s session, as prices moved back above $1,300. Bitcoin Bitcoin (BTC) rose marginally above $19,000 on Saturday, as markets continued to digest this week’s heightened level of volatility. Following a low of $18,617.55 on Friday, the… Source link

Commodities: Energy sold off as well, with WTI crude oil falling 5.4%. Natural gas declined 3.4%, while European Brent crude and gasoline (RBOB) fell 4.4% and 4.7%, respectively. Despite its safe-haven reputation, gold fell 1.8%. Copper, used as a barometer of economic conditions, decreased 3.6%. Source link