The great Bitcoin miners migration is well underway. And the network’s total hash rate is showing it in a big way. Currently, the number of terahashes per second is at its lowest level in the last twelve months. That means that mining Bitcoin has not been easier in a whole year. Also, there’s less competition.…
A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency could see its price surging as high as $100,000, representing a 200% increase from its current value. However, the analyst noted that this bullish projection would occur only when certain conditions are met. Bitcoin Could Rise To $100,000 In an X (formerly Twitter)…
Bitcoin gave up its intraday gains as China’s central bank revamped its benchmark lending rate lower to tackle slowing economic growth. Bitcoin steady as global regulators set to discuss economic stimulus this week | Image Credits: TradingView.com The top cryptocurrency dropped by $242, or 2.21 percent, to $10,705 as of 16:48 Shanghai time. The move…
Very few positive stories come out of China with cryptocurrency in the headlines. This one is no different as the central bank has continued with its rhetoric over the risks of dealing with digital currencies. Same Old Story; Crypto Bad, Blockchain Good The People’s Bank of China has issued another warning over its perceived bubble…
One of 2021’s biggest stories was the China ban on Bitcoin mining. On one hand, the news did affect Bitcoin’s price and gave ammunition to the naysayers that think that governments will outlaw Bitcoin. On the other, the network kept working without a hiccup, recovered its hashrate in record time, and gained in decentralization. However,…
America is not the only country manipulating its money in order to prop up a flagging economy. Today China unexpectedly injected billions in cash to prevent a fall in interest rates as the economy flounders following months of trading tensions. Savvy investors turned to Bitcoin before, will they do it again? Central Bank Floods Market…
China’s crypto angst has shown no sign of abating as we enter a new year. Another raft of restrictive regulations has just been implemented for blockchain companies in the People’s Republic. Data Privacy Not Applicable in China The Cyberspace Administration of China (CAC) has just introduced more regulations for companies dealing with distributed ledger technology.…