Cryptocurrency Analysis and News Portal
The Bitcoin network’s on-chain activity still appears to be in a bear market as U.S. and E.U. buyers are struggling to stay ahead of sellers based in Asia.Blockchain analytics firm Glassnode’s latest report on the weekly activity of the Bitcoin (BTC) network shows that the price of the largest crypto
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Tesla and Spacex CEO Elon Musk has revealed that his two companies are seeing significant inflation pressure in raw materials and logistics. He advised people to own physical things when inflation is high but stressed he will not sell his cryptocurrencies: bitcoin, ether, and dogecoin. Elon Musk Discusses High Inflation The CEO
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Whose side are you on? The Ukraine-Russia war is forcing people to answer that question. For some in the crypto community, this can be uncomfortable because if an individual or project stands with the West against Russia, it also means it abides by sanctions. This can be tough to square
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This time, however, rising inflation is thrown into the mix. Commodities, a traditional inflation hedge, tend to rally during the start of an inflationary cycle. Therefore, the correlation between bitcoin and commodities collapsed in recent months to more normal levels (zero correlation). Source
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Former presidential candidate Hillary Clinton has criticized the Biden administration and European governments for not pressuring cryptocurrency exchanges to end transactions with Russian users. She believes regulators “should look hard at how they can prevent the crypto markets from giving an escape hatch to Russia, both governmental and private transactions
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Some $14 trillion of cryptocurrency capital gains were created last year, and tax bills need to be paid. Source
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Bitcoin (BTC) remains in its short-term downtrend begun in November, currently off 40% from its all-time high near $69,000. The cryptocurrency was testing initial support at $40,000 at press time, although stronger support is seen at $30,000, which was roughly the bottom of 2021's selloff. Source
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The Wikipedia proposal has sparked online discussions among Wiki users and contributors, most of whom have so far expressed support for banning crypto donations. However, the foundation noted that “this is not a majority vote, but instead a discussion among Wikimedia contributors. Agreement is gauged based on the merits of
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The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200
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Bitcoin stabilized at around $41,000 on Friday and is down about 9% over the past week. Analysts expect prices to move sideways, although they may be vulnerable to further declines if technical support levels are breached.The reduction in leverage in bitcoin and ether futures markets could signal healthier market conditions.
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