Despite the renewed market selloff triggered by the Chinese government crackdown, Bitcoin (BTC) and most other cryptocurrencies have posted significant recoveries. However, the market has fallen into a sideways pattern for the past few days now. As is typical with FUD moves, the market absorbed the news-induced selloff as long-term investors (HODLers) accumulated more coins […]
Following the fresh attack on the crypto industry, Bitcoin (BTC) proponents have argued that this is “a blessing in disguise” for the benchmark cryptocurrency. The recent Evergande real estate crisis triggered a selloff in the benchmark cryptocurrency last week. Shortly after, BTC received another blow from a reiteration of intolerance on the crypto industry by […]
The Bitcoin (BTC) Fear and Greed Index, a measure of the general outlook on BTC, had entered “extreme fear” conditions for the first time since late June. This deterioration in outlook follows the recent $8,500 crash to the $40,000s. Many analysts have fingered the recent Evergrand debt crisis in China as the primary catalyst of […]
Amid the bearish charge witnessed in Bitcoin (BTC) on Monday, El Salvador President Nayib Bukele revealed that the country bought the dip. El Salvador’s Bitcoin Law went into effect on September 7, making it the first sovereign nation to adopt the flagship cryptocurrency as legal tender. President Bukele announced via Twitter that his government acquired […]
While many environmentalists worry over the energy consumption rate of Bitcoin (BTC), new reports reveal that the network has consumed more power this year than the whole of 2020. The new, report curated by Bloomberg, noted that “the network reportedly consumed about 67TWh of electricity in 2020, and its total consumption has already surpassed this […]
President of El Salvador Nayib Bukele recently revealed that the country is exploring ways to mine Bitcoin using energy from its volcanoes. The charismatic leader announced via Twitter on Wednesday, noting that: “I’ve just instructed the president of La Geo (our state-owned geothermal electric company) to put up a plan to offer facilities for bitcoin […]
Michal first heard about bitcoin in 2014. He had $4,000 in his savings account. Inspired by his programmer friend, a rabid bitcoiner, he went all-in. “At the time,” he wrote on his Medium page, “I invested my $4k, the price of a bitcoin was about $600. I got 6.55 BTC. I will never forget that […]
On-chain analytics provider Santiment has warned Bitcoin (BTC) retailers that millionaire-tier whales could be pushing them out of the market. The analytics firm revealed that whale addresses holding between 100 to 10,000 BTC dumped their holdings around September 6-7. Santiment noted that after retailers booked profits following the recent 15% crash, these whales acquired BTC […]
Behemoth digital assets manager MicroStrategy has reportedly acquired 5,050 more BTCs, bringing its total Bitcoin holdings to a jaw-dropping 114,042 coins. The company announced the new development on Monday. MicroStrategy CEO Michael Saylor tweeted that: “Microstrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per bitcoin. […]
