India’s reserve bank has long since condemned the use of cryptocurrencies, but other than the Supreme Court striking down its 2018 bill last year, the Indian government’s stance on cryptocurrencies has been largely uncertain. On one hand, top sources tracking the government’s stance say it has shifted away from the idea of a complete ban.
Did you know that South Korea is a hotbed for speculative investment into cryptocurrencies, such as Bitcoin and Ethereum? In fact, it’s not an understatement to say that young Koreans in their 20s and 30s go crazy with crypto investing, and according to a local survey, 53% of college students in Korea expressed a positive
Cryptocurrency prices surged on June 29 as Bitcoin (BTC) price pushed through the $35,000 resistance level and lifted the total market cap by $93 billion, with $50 billion of that total flooding into altcoins. Bitcoin put on a 7% gain on the day to climb back above $36,000 and leading traders to expect a rally to the
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The self-proclaimed Satoshi Nakamoto and Bitcoin SV proponent, Craig Wright, has won a legal battle claiming copyright infringement on the part of bitcoin.org for hosting the Bitcoin whitepaper. Wright won by default after the website’s pseudonymous owner, “Cøbra,” chose not to mount a defense. Bitcoin.org must now remove the whitepaper and display a notice referring
Crypto exchange platform Huobi has updated its user agreement document, banning crypto derivatives trading for customers in China. According to the updated user agreement section of the Huobi Global website, the ban on crypto derivatives trading covers users in jurisdictions like China, Taiwan, Israel and Iraq. Other banned countries include the United Kingdom — restricted
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The U.S. core personal consumption expenditure (PCE) price index increased 0.5% in May, below market estimates of 0.6%. However, when compared year-over-year, the PCE index surged to 3.4% recording its largest gain since 1991. While the U.S. Federal Reserve expects inflation to be transitory, analysts at BofA differ in their estimation. The bank anticipates U.S.
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One of the most common errors traders make when analyzing cryptocurrency markets is taking an exchanges’ bid and ask data and traded volumes at face value. When doing this type of analysis, the trader has to exclude the trading venues mentioned on multiple ‘fake trading volumes’ reports, like the one Bitwise published in March 2019.
On June 12, Bitcoin (BTC) mining pool Slush Pool mined block 687,285 with the transaction including a Taproot upgrade activation signal. That particular block was the 1,816th to include a signal for Taproot activation by a BTC miner within the difficulty epoch that lasted from May 30 to June 13. With 2,016 blocks created every
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Bitcoin (BTC) price remains jittery and throughout this week, every relief rally is being sold into. This is a classic bear market reaction and may not end in a hurry. However, the current price action should not worry investors because the longer the time spent in a bottoming formation, the stronger the base for the
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U.S. company Athena intends to supply El Salvador’s new crypto-based economy with 1500 Bitcoin ATMs, a company representative has confirmed. The rollout will start small, trialing a few dozen machines to establish a business model. The Chicago headquartered firm plans to invest more than $1 million to install cryptocurrency ATMs, targeting regions where residents receive
After an incredible start in 2021, Ether peaked at $4,380 on May 12 but has dropped 55% since then. Unlike the leading cryptocurrency, the Ethereum network faces competition from projects that do not depend on proof-of-work, hence not facing the bottleneck issues that caused transaction fees to skyrocket. Whenever markets disappoint traders with a negative
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Bitcoin’s (BTC) dip below $29,000 on June 22 rocked the markets a handful of analysts to call for a potential drop below $20,000. Many traders on crypto Twitter were focused on the formation of a death cross on the Bitcoin chart as an omen for another potential drop in the price but analysts with a
Bitcoin (BTC) is “very close to the bottom” and still commands a bullish long-term view, institutional crypto firm Stack Funds believes. In its latest report issued on June 23, analyst Lennard Neo said that despite the price meltdown, there was no reason to flip bearish in BTC. Stack: BTC macro view “remains the same” The
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