MicroStrategy CEO Michael Saylor recently argued that the long-term prospects of Bitcoin (BTC) remain intact, regardless of whatever occurs in the near term. Saylor noted that Bitcoin’s near-term volatility is irrelevant considering the fundamentals backing the leading cryptocurrency. Speaking at an interview with The Block last week, the MicroStrategy boss noted: “Bitcoin is the most […]
Bitcoin (BTC) suffered a 5.5% 24-hour slump on Thursday, erasing every gain accrued since Monday. This slump came as investors braced for additional monetary tightening by the US Federal Reserve. The benchmark cryptocurrency tapped the $29,300 low from the $32,000 top yesterday but has since rebounded towards the $30,000 mark. As mentioned earlier, the slump […]
Bitcoin (BTC) continues to battle with an aggressive bearish sentiment, as the benchmark cryptocurrency refreshed its $29,000 low in the Asian session yesterday. On-chain analytics provider Glassnode recently published a report that shows that BTC has traded lower for eight consecutive weeks so far, labeling it the longest “continuous string of red weekly candles in […]
The cryptocurrency market suffered another bearish blow in the last 24 hours, as Bitcoin (BTC) dropped below the $29,000 low again and Ethereum below the $2,000 mark. The renewed bearish sentiment comes amid a sharp decline in the stock market, as stock indexes fall to yearly lows. Wall Street suffered a negative trading session yesterday, […]
Recent reports show that China accounts for 21% of the total global Bitcoin (BTC) hash power output despite an all-out ban on cryptocurrency operations in the country last year. The report from the Cambridge Bitcoin Electricity Consumption Index (CBECI) revealed that China was the second-largest Bitcoin hash power provider as of January this year after […]
Despite the frenzied sell-off recorded in Bitcoin (BTC) over the past few days, El Salvador has added more BTC to its reserves “at a discount.” President of El Salvador Nayib Bukele announced via Twitter yesterday that his country had purchased an additional 500 BTC. He tweeted: “El Salvador just bought the dip! 500 coins at […]
As the cryptocurrency market and most of the equities market continues to plummet, the Bitcoin (BTC) Fear and Greed Index has slumped to alarmingly low levels. At press time, the Index has dropped to levels not seen since January, when the benchmark cryptocurrency traded at around $33,000. So far, May has not turned out to […]
Bitcoin (BTC) recorded a surge after a streak of downward momentum courtesy of the US Fed interest rate decision announcement. The benchmark cryptocurrency tapped the $40,000 top for the first time since April 28. As expected, the broader market reacted similarly to the news, as the total market cap added 5.7% to its value yesterday. […]
Top executives in the cryptocurrency space have written to the US Environmental Protection Agency (EPA) to address falsities and preconceived notions surrounding Bitcoin (BTC) mining. Not surprisingly, the letter was authored by MicroStrategy CEO Michael Saylor, along with Castle Island Ventures partner Nic Carter and Core Scientific co-founder Darin Feinstein. This address comes after some […]
