Bitcoin (BTC) hovered above $16,000 on the Nov. 28 Wall Street open as analysts diverged on what to expect from the next market move. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin spot price near key support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining the $16,000 support level at the time of writing
Bitcoin (BTC) prepares to exit a grim November just above $16,000 — what could be on the menu for BTC price this week? In a time of what analyst Willy Woo has called “unprecedented deleveraging,” Bitcoin is far from out of the woods after losing over 20% this month. The impact of the FTX implosion
Billionaire entrepreneur Elon Musk has confirmed that he intends to integrate payments into what he describes as Twitter 2.0 — “The Everything App” — fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE). The new Twitter CEO revealed his plans in a Nov. 27 tweet to his 119.2 million followers, in which he
Bitcoin fell to a six-day low to start the week, as the token moved closer to the $16,000 level. The drop sees prices fall for a fifth straight session, with overall sentiment in the cryptocurrency market turning bearish. Ethereum was once again trading below $1,200, after trading above this point in recent days. Bitcoin Bitcoin
Web3 returns content rights to the author, enhances the security level, eliminates unfair censorship, ushers in transparency, automates the functioning of software and facilitates a creator economy. Thanks to the characteristics of Web3, businesses can take advantage of opportunities that are beyond imagination. Concepts like decentralization and permissionless cybersphere were just in sci-fi. Nonetheless, Web3
The collapse of the now-bankrupt cryptocurrency exchange FTX has put the Singapore prime minister and the ruling government in a hot seat. Prime Minister Lee Hsien Loong and Deputy Prime Minister Lawrence Wong are set to face grilling questions for their failure to protect retail investors. The Members of Parliament (MP) from the opposition Workers’
The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter. Line-owned crypto exchange Bitfront officially announced on Nov. 27 a plan to completely close down the platform by March 2023. According to the statement, the closure was driven by the continued cryptocurrency bear market and other
An inside joke about the “insolvency” of Wrapped Ethereum (wETH) over the weekend has forced influencers to explain it was just a “shitpost” after members of the community took it as real. The wETH insolvency FUD (fear, uncertainty and doubt) seemingly began to make the rounds on Nov. 26, with false rumors alleging that wETH
Ripple’s APAC Policy Director has described the fall of FTX as “incredibly damaging” for the crypto space, but says the industry should stand the test of time if its focus shifts towards building “real utility.” In a statement sent to Cointelegraph, Ripple’s APAC policy lead Rahul Advani said he expects the FTX saga to lead
Bitcoin (BTC) millionaires are becoming an increasingly rare breed as numbers fall 80% in a year. According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with a BTC balance worth $1 million or more. 1 year, 90,000 fewer million-dollar BTC wallets In yet another indication of how far
The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to intervene in the currency market are part of the equation leading to this,
Ether (ETH), which is the second largest cryptocurrency in terms of market capitalization, is popular among cryptocurrency investors because of its native ETH token. However, its native Solidity programming language and Ethereum Virtual Machine (EVM) are instrumental in the adulation it receives from the developer community. In fact, the Ethereum blockchain continues to attract decentralized
The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks from rural Washington has raised fresh concerns about its operations and alleged misuse of banking loopholes. Farmington State Bank in the state of Washington, now
Bitcoin (BTC) has been trading in a tight range since Thanksgiving Nov. 24, as traders are uncertain about the next directional move. Usually, in a bear market, analysts tend to become uber-bearish and project targets that tend to scare away investors. The failure of Bitcoin to start a strong recovery has given rise to several
Assets belonging to former FTX CEO Sam Bankman-Fried have been seized by the country’s Financial Crimes Investigation Board, locally known as MASAK, following the collapse of his main business. An official announcement from Turkey’s MASAK outlined preliminary findings and actions taken against Bankman-Fried following bankruptcy proceedings of its core business. MASAK began investigations on Nov. 14.
The revenue earned by Bitcoin (BTC) miners fell to two-year lows owing to poor market performance and a heavier computational demand amid rising network difficulty. However, an ongoing downturn in the Bitcoin hash rate over the past month has allowed miners to recoup losses. The total Bitcoin mining revenue — block rewards and transaction fees