This week’s price action shows Bitcoin bulls were a bit overzealous about Friday’s $3 billion BTC options expiry. This week’s combination of bearish factors was enough to bring Bitcoin (BTC) price down to its lowest levels in 46 days, and this nearly obliterated 86% of the $2 billion September call (buy) options that expire on…
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Predictions include a short-term low at $42,000 as overnight progress turns into consolidation. Bitcoin (BTC) faced stiff resistance above $44,000 on Thursday, Sept. 23, as China told governments to prepare for property giant Evergrande to collapse. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Buyers line up to snag sub-$40,000 BTC Data from Cointelegraph Markets Pro…
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Marty Bent, the co-founder of Bitcoin mining firm Great American Mining, is glad to be hodling Bitcoin as uncertainty hangs over the legacy financial system As the prospect of Chinese property giant Evergrande defaulting on $305 billion worth of debt looms, pundits are weighing in on how the firm’s bankruptcy could impact the legacy and…
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Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of Evergrande Group, a China-based real…
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Global investors have their eyes peeled on the Evergrande Group or the Evergrande Real Estate Group, China’s second-largest property developer by sales. Evergrande Group shares nosedived on Monday dropping to 11-year lows and many analysts and economists are concerned about a possible credit contagion. Credit problems with China’s real estate industry have affected global markets…
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BTC’s lack of integration with traditional finance and its inability to be forcefully sold to cover financial losses mean the price might not ‘collapse’ if there is a global stock market meltdown. One of the reasons behind Bitcoin’s (BTC) volatility, the substantial price oscillations that occur regularly, is the discrepancy of its use cases. Some…
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Bitcoin’s hashrate has been climbing higher during the last two weeks, hitting 174 exahash per second (EH/s) on two occasions since June 28. Currently, Bitcoin’s network hashrate is coasting along at 158 EH/s, up 128% since the low 83 days ago when it hit 69 EH/s. Meanwhile, unknown hashrate has subsided a great deal as…
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Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the region’s computing power in the crypto activities which the government considers illegal. Cyberspace Watchdog…
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Countries vie for cryptocurrency miner business as Chinese miners move to greener pastures. Here’s where they are ending up. A few months ago, the crypto industry was shaken up by the news of the mass exodus of miners from China. At the end of May 2021, it became known that the Chinese authorities were going…
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The local news publication, acting as the party’s spokesperson, warned of a major decrease in the value of NFT assets once its bubble pops. According to local sources, the Chinese government has released a series of statements denouncing the value of the nonfungible token, or NFT, market, even though two of the nation’s major tech…
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