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Read More »Bitcoin Mining “Golden Age” Shows Higher Profits and Demand for More Infrastructure
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
Read More »Ethereum is bullish above the $3,000 support, but dipping below it could be catastrophic – FXStreet
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not… Source link
Read More »Market Wrap: ‘Extreme Greed’ Results in Bitcoin Price Slump
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
Read More »Derivatives data shows Ethereum traders positioned to extend the ETH rally
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
Read More »Bearish Bitcoin Bets Might Signal Return of This Popular Trade
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
Read More »What is Ethereum? What to know before investing
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.
Read More »Bitcoin’s revival shows cryptocurrency ‘is not a fad’: Morning Brief
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
Read More »Monero price rises 20% after Atomic Swap implementation
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
Read More »Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 24th, 2021
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
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