Bitcoin miners make US an industry leader after China crackdown as climate fears weigh

The U.S. now leads the world in Bitcoin mining, according to data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), which tracks Bitcoin’s energy consumption by geography. According to data added to the index, the United States currently makes up 42.7% of the Bitcoin network’s “hashrate,” a metric unit that measures how much power the Bitcoin network consumes. Up 14%, the growth in America’s hashrate — also known as hashpower — reflects the changing geopolitical… Source link

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Michael Burry of ‘The Big Short’ asked about shorting crypto days before bitcoin hit $60,000 – CNBC

In this article BTC.CM= Andrew Toth | FilmMagic | Getty Images “The Big Short” investor Michael Burry inquired about ways to bet against bitcoin just before the world’s largest cryptocurrency hit a six-month high to breach the $60,000 level. “Ok, I haven’t done this before, how do you short a cryptocurrency,” Burry said in a Wednesday tweet. “Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best… Source link

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Why Bitcoin-Related And Ethereum-Related Stocks Are Rising Today

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Coinbase Global Inc (NASDAQ: COIN) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). The cryptocurrency markets are rallying ahead of Bitcoin futures ETF application rulings that are expected to come as soon as next week. Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a… Source link

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Litecoin: How traders can capitalize on this ‘ideal’ buy entry

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice Litecoin’s near-term outlook seemed favorable as the alt closed in on an ascending triangle breakout. A northbound RSI, bullish crossover on the Directional Movement Index, and an uptick in 24-hour trading volumes backed such predictions. However, some near-term bearishness would begin to seep if LTC fails to close above the upper trendline. Sellers would… Source link

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Ethereum could soon hit a record high of $4,900 thanks to its growing power in the crypto market, Fundstrat says | Currency News | Financial and Business News

The cryptocurrency ether runs on the ethereum network. Dado Ruvic/Reuters Ethereum’s token looks set for a breakout and could soon top $4,900, research house Fundstrat has forecast. Analysts said ether’s market share has grown in recent days, a positive sign for the DeFi-friendly token. However, the crypto market is far from predictable, and excitement was building around bitcoin Friday. Ether looks set for a breakout and could soon top $4,900, a new record high, according to… Source link

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Ethereum could soon hit a record high of $4,900 thanks to its growing power in the crypto market, Fundstrat says | Currency News | Financial and Business News

The cryptocurrency ether runs on the ethereum network. Dado Ruvic/Reuters Ethereum’s token looks set for a breakout and could soon top $4,900, research house Fundstrat has forecast. Analysts said ether’s market share has grown in recent days, a positive sign for the DeFi-friendly token. However, the crypto market is far from predictable, and excitement was building around bitcoin Friday. Ether looks set for a breakout and could soon top $4,900, a new record high, according to… Source link

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Bitcoin gets green light for price discovery with ‘almost no supply’ on exchanges above $59K

Bitcoin (BTC) is now free to surge not only to existing all-time highs but beyond, analysts have said. Analyzing orderbook data on Oct. 15, monitoring resource Whalemap revealed that Bitcoin had already beaten all major resistance levels. Bitcoin is already moving in thin air  With $60,000 hitting for the first time since April, the odds are on for new all-time highs — and the timeframe for these keeps getting smaller. Now, a look at exchange conditions shows just how easily BTC/USD should… Source link

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Charlie Lee Sums Up Litecoin’s 10 Years History. Part Five: Conflict Of Interest

It’s great that the founder decided to give us one more chapter of Litecoin‘s story. Let’s tie up loose ends and wrap this whole series with a bow on top. As it turns out, Charlie Lee returned to his job at Coinbase. Was the company more supportive this time around? Plus, as we warned you last time, at one point Lee sold all of his LTC. What were his reasons to do that? Did he have a plan? And, more importantly, did the plan work?  Related Reading | Charlie Lee Sums Up Litecoin’s… Source link

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Bitcoin, Ethereum higher, Dogecoin lower early Friday in cryptocurrency trading

Check out what’s clicking on FoxBusiness.com. Bitcoin was trading 2.57% higher on Friday morning, nearing $60,000 per coin. The price was around $58,865 per coin, while rivals Ethereum and Dogecoin were trading around $3,758 (+3.26%) and around 22.6 cents (-3.72%) per coin, respectively, according to Coindesk. BITCOIN IS ‘WORTHLESS’: JPMORGAN CEO DIMON Early Friday morning, Bloomberg reported the Securities and Exchange Commission is prepared to let the first U.S. Bitcoin futures… Source link

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