In the first half of last week, rumors about Apple buying Bitcoins worth over $2 billion spread across the crypto-related social media platforms. Source: Twitter Many cryptocurrency enthusiasts expect such kind of news (about big players entering the market) to revert the price decline of Bitcoin and resume the uptrend. Source: Twitter Howeve...
On July 7, Visa said that cryptocurrency users spent more than $1 billion on different goods and services through their crypto-linked cards in the first half of the year. That is a signal that the integration of cryptocurrencies in global trade is on the way. Because cryptocurrencies are becoming an integral part of the global financial system, ...
The crypto market has recorded another week of consolidation. Recently, most of the major cryptocurrencies have been trading in a very narrow range, struggling to find direction. For example, Bitcoin has been fluctuating between $30,000 and $38,000 for almost 5 weeks now. It is clear that sooner or later, this consolidation will end. But the que...
On June 24th, Citigroup, the third-largest banking institution in the United States, officially launched a digital asset unit within its wealth management division, according to The Block. The new unit called Digital Assets Group aims at helping Citigroup’s clients invest in cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and central ...
Last week the news about China’s cryptocurrency mining crackdown dominated the market. The authorities of China’s southwest province Sichuan issued an order demanding to close the mining facilities in the region. Sichuan is considered to be the second-biggest Bitcoin mining region in China. Because many of those miners have started to shut down ...
Last week miners around the world approved Bitcoin’s Taproot upgrade: Source: Twitter The Taproot upgrade, the most important one since the SegWit upgrade in 2017, is expected to take effect in November. Many blockchain experts believe that Taproot will increase the privacy and the efficiency of Bitcoin transactions. But this is not the only p...
The crypto market recorded another week of consolidation. Although it is clear that sooner or later, this consolidation will end, the big question is in which direction the market will continue its journey after that. According to Bloomberg, it is more likely that Bitcoin will resume the uptrend and reach $100,000 than start a downtrend and drop...
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...