Microstrategy has purchased more bitcoin amid a heavy market sell-off. The announcement followed a clarification by the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that bitcoin is a commodity. Microstrategy Buys the Dip The Nasdaq-listed software company Microstrategy has bought the bitcoin dip again. In a Wednesday filing with the …
Monthly archives: June 2022
Nifty news: Sandbox LAND on Polygon, ETH gain a tax loss and more…
Popular Ethereum-based Metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual NFT LAND and native SAND tokens over to Layer-2 network Polygon (MATIC). While The Sandbox will live on Ethereum for the most part, the platform has emphasized that conducting SAND and LAND transactions on Polygon will result …
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Bitcoin Records Worst Performance For June, Will It Get Better From Here?
Bitcoin performance for the month of June has been nothing short of unremarkable so far. Being a market leader, the other cryptocurrencies in the market have mirrored its movements for the month, leading to massive losses across the board. However, the numbers for June are in and it shows that bitcoin’s performance for the month …
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Tracking Whales, What This Bitcoin Divergence Could Hint About BTC’s Price
Bitcoin is trending downside on lower timeframes and seems to hint at future losses. The number one crypto by market cap records a 3% loss in the past week, but there is a potential sign of hope for the bulls. Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met At the …
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Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic
The current streak of extreme fear is already the longest ever in crypto history, and it’s continuing on still. Here’s a recap of the major events responsible for this bottom sentiment. Crypto Fear And Greed Index Continues To Point At “Extreme Fear” The “fear and greed index” is an indicator that tells us about the …
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Holding Back The Bears: Why Bitcoin Must Break $22,500
Bitcoin continues to struggle to hold the $20,000 level even after a recovery coming out of the weekend. This decrease in price has pushed the market further into the bear market. It still trades at very critical levels which will determine the movement for the next couple of weeks. These two main points are the …
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Cardano’s Vasil hard fork proposal submitted: Countdown commences
Cardano (ADA) blockchain developer Input Output Hong Kong (IOHK) has submitted an update proposal to hard fork the Cardano testnet, kicking off the countdown for the network’s Vasil mainnet upgrade. The Vasil upgrade is slated to bring “significant performance and capability upgrades” to the blockchain, with IOHK describing the fork as the “biggest and best …
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BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection
Grayscale Investments has launched a legal challenge against the Securities and Exchange Commission (SEC) after being denied its application to convert its Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin exchange-traded fund (ETF). On June 29, it announced that its Senior Legal Strategist, former U.S. Solicitor General Donald B. Verrilli Jr. had filed a petition …
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Bitcoin clings to $20K as analysts warn of a long, bumpy ride for the foreseeable future
Bullish cryptocurrency traders hoping that the market was on a path higher received a dose of reality on June 29 as the price of Bitcoin (BTC) dipped below $20,000 again during intraday trading. Data from Cointelegraph Markets Pro and TradingView shows that the top cryptocurrency fell under pressure in the early trading hours on June 29 …
Crypto Analyst Reveals Big Downside Target for Ethereum, Predicts Bitcoin Bottom Scenario
A popular analyst is digging into the charts to set low-end price targets for the two largest crypto assets by market cap. Pseudonymous crypto trader Altcoin Sherpa tells his 179,500 Twitter followers he’s watching leading smart contract platform Ethereum (ETH) at around $975 to $1,425 while warning that further capitulation could send it tumbling to …
IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report
The US government is reportedly delaying collecting billions of dollars worth of crypto taxes to give firms in the industry more time to gather relevant information on their customers. According to a new report by Bloomberg, The U.S. Treasury Department and the Internal Revenue Service (IRS) plan on delaying tax collection on digital assets until …
EU officials reach agreement on AML authority for supervising crypto firms
The European Council has reached an agreement to form an anti-money laundering body that will have the authority to supervise certain crypto asset service providers, or CASPs. In a Wednesday announcement, the council said it had agreed on a partial position of a proposal to launch a dedicated Anti-Money Laundering Authority, or AMLA. According to …
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Hashing24: Bitcoin Cloud Based Mining Is on the Rise
Despite the continuing global Bitcoin hashrate growth, solo Bitcoin mining online fails to be profitable anymore because of the expense involved. Why does Bitcoin Cloud Mining Attract So Much Attention? The cost of mining hardware rigs, maintenance, software upgrading and updating, colossal utility bills, etc. pose serious questions as to whether BTC mining is a …
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Taiwan joins growing list of countries developing CBDCs
Taiwan’s central bank is working on developing a central bank digital currency (CBDC) but does not have a clear timeline for when it will be ready for public release, Reuters reported, citing the regulator’s governor, Yang Chin-long. CBDC pilot is already well underway The central bank disclosed that a pilot scheme involving the use of …
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Bitcoin miners are facing harsher conditions despite easier mining difficulty
Despite the decline in mining difficulty, Bitcoin (BTC) miners are facing harsher conditions in the market due to the rising costs of energy and hardware, Coin Metrics’ special State of the Network reveals. Coin Metrics said that the BTC mining hash rate has been stable despite the price decline. Hash rate is the computational power required …
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