Month: November 2021

Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after “trapping” leverage traders. In its latest market update on Nov. 12, trading platform Decentrader underscored popular sentiment on BTC price action. Update: High timeframes “remain bullish” Despite losing $4,000 in a single day Wednesday and trending sideways since, Bitcoin is anything
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BlackRock Financial Management’s global head of iShares and index investments said the financial firm will likely not be launching exchange-traded funds linked to crypto assets anytime soon. According to a Nov. 12 report from Financial News, BlackRock executive Salim Ramji said the firm with $9.5 trillion in assets under management has “no current plans” to
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Bitcoin (BTC) shook out leveraged traders in classic style this week, but new data suggests that the market is broadly healthier than earlier in the year. Highlighting findings from its latest weekly newsletter, data analysis firm Arcane Research showed how aligned futures markets have become in Q4 2021. “Healthier” market keeps bullish bias sustainable With
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The National Ulema Council (MUI), Indonesia’s top Islamic scholarly body, has reportedly found cryptocurrencies like Bitcoin (BTC) to be haram, or forbidden, by the tenets of Islam.  Asrorun Niam Sholeh, chairman of MUI’s Fatwa Commission, confirmed the religious authority’s rejection of cryptocurrencies due to alleged elements of “uncertainty, wagering and harm.” In order for the
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While Nigerians have seemingly embraced the Central Bank of Nigeria (CBN)’s digital currency, skeptical analysts believe a lack of trust in the government will ultimately limit the e-naira’s prospects for success. Threat From Fintech Startups In addition, some analysts insist the digital currency’s already tenuous position is made worse by the fact that it has
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In its third-quarter earnings release, Canadian cryptocurrency miner Hut8 announced that it surpassed its goal set earlier this year of holding 5,000 Bitcoins (BTC) in reserves through mining. Its Bitcoin balance now amounts to 5,053, for a total market value of $430 million. During the quarter, Hut 8 generated 50.34 million Canadian dollars (CA$) in revenue and
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One under the radar cryptocurrency-powered payment app that’s been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which may be undergoing high inflation levels, to the United States Dollar via the Reserve stablecoin (RSV). The network also features the Reserve Rights token
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