Bitcoin

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The past few months have been painful for Bitcoin (BTC) bulls, but they are not alone. The United States Federal Reserve’s tightening economic policy has led investors to seek protection in cash positions and inflation-protected bonds.  Surging inflation and recession signals have caused the S&P 500 stock market index to retreat 19% year-to-date. Even gold — previously considered a safe asset — is suffering the consequences, trading down 20% from its all-time high. The increasing costs… Source link

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Published on November 02, 2022 The City of Fort Worth’s recent foray into the cryptocurrency industry could pay in spades in attracting technology firms here. Fort Worth was the first U.S. city government to mine Bitcoin. A six-month pilot program launched Aug. 26, 2022, netted $1,019.31, after electricity costs. Carlo Capua, the City’s chief of strategy and innovation, told the City Council Tuesday that mining Bitcoin was never about the profit, but more about Fort Worth… Source link

Over the weekend, thousands of Bitcoiners and crypto enthusiasts descended on the small, sleepy Swiss town of Lugano. More specifically, they piled onto a McDonald’s restaurant. Perched on Lake Lugano, McDonald’s Lugano received countless visits from Bitcoiners keen to trade satoshis (the smallest denomination of Bitcoin) for Big Macs, McFlurrys and coffee. But why were European crypto enthusiasts excited to pay in Bitcoin (BTC) at one of the world’s most recognizable brands? Well,… Source link

Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of Bitcoin’s bear market has coincided with a substantial rise in the percentage of BTC’s total supply held by investors for at least six months to one year. Notably, the… Source link

Text size Bitcoin prices remain at less than one-third their all-time high from about a year ago. dreamstime … Source link

While Bitcoin (BTC) price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level.  Last week Bitcoin reached a high of $20,961. However, it never sustained its upward momentum as the rally fizzled out, failing to break $21,000 support. As a result of the rally as well as the… Source link

Nov 1 (Reuters) – After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one of its strongest efforts yet to break away. Its 30-day correlation with the Nasdaq (.IXIC) slid to 0.26 last week, its level lowest since early January, where a measure of 1 indicates the two assets are moving in lock step. The correlation, which shows the degree to which the two… Source link

Alex Dovbnya Many market participants bought into “Uptober” optimism, with Bitcoin remaining above the $20,000 level Contents The logic behind the monicker  “Moonvember”?  Bitcoin, the world’s largest cryptocurrency, keeps hovering above the $20,000 level.  At press time, it is sitting at $20,520 on the Bitstamp exchange after adding 5.5% in October. Image by tradingview.com Bitcoin managed to close its first green monthly candle since July, with the “Uptober” meme… Source link