Last Wednesday, Iran’s President Hassan Rouhani announced a ban on cryptocurrency mining in the country. The announcement came after several cities had experienced blackouts. The government blamed the Bitcoin miners in the country for the power outages. The crypto mining ban is supposed to continue until the end of September. It is worth mention...
Last week, one of the deepest corrections unexpectedly hit the cryptocurrency market. For example, the price of Bitcoin recorded approximately 50% decline: Source: CoinMarketCap.com However, as some cryptocurrency enthusiasts outlined, such kinds of panic sell-offs are nothing new to the market, and things like this happen and will continue to ...
Last week, Elon Musk brought another surprise to the market. This time he started to criticize Bitcoin instead of praising the cryptocurrency. On May 13th, the Tesla CEO announced that they had stopped vehicle purchases using Bitcoin: Source: Twitter Musk underlined that the reason behind the decision is because Bitcoin is heavily energy-consum...
Most of the major cryptocurrencies hit new all-time highs this past week. Ethereum (ETH) managed to surpass the psychological level of $4,000 during the week, recording a new-all time high. Binance Coin (BNB) hit $680 – the highest level since inception. However, the biggest surprise for the crypto market or, actually, for some cryptocurrency us...
Last week the cryptocurrency market marked one of the biggest corrections since the beginning of the year. For example, the price of Bitcoin dropped from approximately €54,000 to €39,000 – a price decline of over 27%. Many cryptocurrency users, mainly newcomers, started to panic and wonder if this is a trend reversal that will lead to a new bear...
The positive news in the cryptocurrency market continued to prevail during the first part of the past week. On Tuesday, April 13th, ConsenSys, one of the leading software development companies in the blockchain space, founded by Ethereum’s co-founder Joseph Lubin, announced it had been able to raise $65 million to accelerate the development of D...
The cryptocurrency market has been seeing very positive weeks from a fundamental point of view for a while now. State Street, the second-oldest bank in the United States with over $3 trillion in assets under management, is going to offer trading crypto to its clients later this year, according to Financial Times. Meanwhile, Hong Kong-based techn...
We have just witnessed yet another very positive week for the cryptocurrency market from a fundamental point of view. On March 29th, VISA announced it would use the Ethereum blockchain to allow its customers to settle payments in cryptocurrency. For its cryptocurrency payments, VISA tested USDC – the second-largest stablecoin after USDT. On the ...
This past week the crypto market remained quite volatile and struggled to find direction. As Federal Reserve Chairman Jerome Powell highlighted on March 22nd, crypto assets are still highly volatile and speculative. However, he also underlined that Bitcoin is essentially a potential substitute for gold rather than the dollar. Interestingly, no m...
The expansion of institutional investors in the crypto industry continues. On March 16th, Visa CEO Alfred Kelly said the payment system was trying to “enable the purchase of Bitcoin on VISA credentials” and “working with some Bitcoin wallets to allow Bitcoin to be translated into a fiat currency.” On March 17th, in an internal memo, Morgan Stanl...