Bitcoin

Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a 7-day correction of 8% in the S&P500 futures after the U.S. Federal Reserve chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support Macroeconomic trends have been the main driver of recent movements. For instance, the latest bounce from the 5-week-long ascending channel support at $16,400 has been… Source link

According to a new letter to shareholders posted on Dec. 21, Aroosh Thillainathan, CEO of German Bitcoin (BTC) mining company Northern Data, said that the firm expects to generate upwards of $202M to $206M in revenue from crypto mining operations this year. At the midpoint range, this represents a growth of 1.11% from Northern Data’s total sales of $202M for the 2021 fiscal year, when the firm grew its revenue ten-fold from 2020. Thillainathan added: “Northern Data is not carrying financial… Source link

What a year for the coins. Few could have predicted that Bitcoin’s bull run—which began at the end of 2020 and pulled the entire market up by its bootstraps—would have collapsed and annihilated virtually all of its gains.  Still, in a year that saw an industry-wide liquidity crisis catalyzed by the collapses of Terra’s UST stablecoin, FTX’s bankruptcy, and the ensuing contagion, some observers might say they’re lucky to still be standing.  According to data from CoinGecko, Bitcoin… Source link

Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

Publicly traded bitcoin mining company Core Scientific (CORZ) filed for Chapter 11 bankruptcy protection in a federal bankruptcy court in the Southern District of Texas early Wednesday morning. The bankruptcy petition, according to the company’s announcement, resulted from a combination of a declining bitcoin price, rising electricity costs needed to power its data centers and “failure by certain of its hosting customers to honor their payment obligations.” The bitcoin specific data processing… Source link

This is an opinion editorial by Aleks Svetski, author of “The UnCommunist Manifesto,” founder of The Bitcoin Times and Host of the “Wake Up Podcast with Svetski.” It is part four of his “Remnant Series.” I grew up as an extreme empath. But the last few years have radicalized me and made me cold, dissociated and distant toward much of the world and its hordes of mindless inhabitants. I traveled to 20 countries during 2020 to 2022, and no matter where I went, I was surrounded by… Source link

‘They will come to a bad ending’: Just over a year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. Even back in 2018, the Oracle of Omaha himself predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021,… Source link

‘They will come to a bad ending’: Just over a year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along It’s been a tough year for Bitcoin and its backers. Even back in 2018, the Oracle of Omaha himself predicted that it and other cryptocurrencies were headed for trouble. “They will come to a very bad ending,” Warren Buffett told CNBC at the time. After hitting an all-time peak of around $69,000 per unit on November 10, 2021,… Source link

Bitcoin (BTC) divided traders yet again on Dec. 21 as sideways BTC price action split opinion on the future. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $17,500 becomes popular BTC price targe Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it acted within a tight range just below $17,000. A single brief spike above the $17,000 mark failed to last, the pair returning to familiar territory from the past week. For popular traders, there was a lack of… Source link

The Bitcoin–(BTC 1.73%)-versus-gold debate is heating up again after Wall Street investment bank Goldman Sachs (GS 0.20%) released a new research note documenting all the reasons it views gold as a better investment than Bitcoin. With Bitcoin down about 64% for the year, it’s easy to see why Goldman Sachs has soured on the cryptocurrency.  As Goldman Sachs argues, there is simply too much speculation and volatility surrounding Bitcoin. On top of that, the original cryptocurrency has failed… Source link