When Bitcoin prices fell from $31,000 to below $29,000, the total value of BTC held by China fell by over $388 million to around $5,4 billion. China’s Bitcoin Stash Fell By $388 Million Bitcoin is trading below $28,500 and looks likely to edge even lower, considering the formation in the daily chart. With every tick lower,…
The successful Ethereum upgrade to proof-of-stake consensus is receiving more backlashes from the market. Therefore, the Ethereum upgrade should produce only positive feedback, but where there are merits, demerits must exist. One of the aftermath challenges the industry faced since the Ethereum upgrade was the drop in GPU prices. Graphic Processing Units (GPUs) in crypto…
China is back with a vengeance. The Cambridge Centre for Alternative Finance, or CCAF, collected data “spanning the period from September 2021 to January 2022” for their latest study. The headline is that, ban or no ban, the Asian country controls 21% of the Global Bitcoin mining hashrate. Since June 2021, here in NewsBTC, we’ve…
The New York Times’ campaign against bitcoin rages on. Even though this time they had the perfect opportunity to write a balanced article, they didn’t. The author reports one positive bitcoin mining story after another, while keeping a snooty attitude and suggesting it’s all a PR move. The title summarizes the New York Times’ stance,…
Intel played a big role in President Biden ’s State of the Union address. He highlighted the company’s plan to manufacture semiconductor chips in Ohio, and said, “Make more cars and semiconductors in America. More infrastructure and innovation in America.” Was he secretly approving Intel’s plan to produce ASIC bitcoin miners? Or did he not…
During an MSNBC interview, Hillary Clinton continued to suggest hypothetical scenarios in which cryptocurrencies could destabilize the United States and called on the Biden administration to regulate them as she fears that state and nonstate actors manipulate the role of the U.S. dollar. Related Reading | Inverse Signals: Why Bitcoin Weakness Is Attributed To Dollar Strength…
China has issued a warning to its state-owned enterprises to stop cryptocurrency mining. It also warned that it would increase electricity rates for companies that continue to defy the ban. This latest warning comes amid the ongoing crypto ban in the East Asian country. Some months ago, the government of China declared all crypto trading…
One of the things that validate a cryptocurrency payment service is regulations. Many exchanges, brokers, and institutions that operate outside the law’s provisions receive a lot of backlash and scrutiny from crypto users and financial regulators. So, it is prudent to gain the necessary approvals before offering services in any territory, especially in a country…
Bitcoin entrepreneur John Carvalho might be on to something. In a recent episode of the Tales from the Crypt podcast, he posed his theory on why did China shot itself in the foot by banning Bitcoin mining early in the year. We at NewsBTC have been racking our brains trying to come up with possible…
John Culifferthe, Bank of England’s Deputy Governor, discouraged crypto’s use in the UK’s finance system. He announced earlier that although cryptocurrencies are becoming more supported within United Kingdom’s financial system, they aren’t a significant threat. However, he also recommended that enhanced regulations should be enforced as digital currencies constantly expand. Related Reading | New To Bitcoin?…