Tag: Bitcoin
Bitcoin Falls Below $19,000 as Cryptos Creak Under Rate Hike Risk
Cryptocurrencies fell to fresh lows on Monday on regulatory concerns and as investors globally turned shy on risky assets with interest rate rises looming around the world. Bitcoin, the biggest cryptocurrency by market value, fell...
Elon Musk May Have Lost 100s of Millions on His February Bitcoin Gamble
News analysis In February this year cryptocurrency enthusiasts were abuzz about one of the most notable Bitcoin transactions in recent history. Tesla Motors, led by controversial billionaire Elon Musk, announced it had purchased $1.5 billion...
Crashing Crypto Market Has Investors Openly Contemplating Suicide
It’s been a bad week for the cryptocurrency markets, perhaps the worst since Bitcoin became mainstream. Mere months ago cryptocurrency forums were in celebratory mode, riding a bear market that saw numerous cryptocurrencies hit all...
Spike in Crypto Mining Threatens to Disrupt Texas’ Electricity Grid
In late April, Texas’ grid operator said that it foresees an increase to electricity demand “by up to six gigawatts by mid-2023”, as Bitcoin farming expands in the Lone Star state. Reportedly, the amount of...
Bitcoin’s Volatility Worries Some Investors
The cryptocurrency market is volatile. Crypto coins can decrease in value as quickly as they can increase. Bitcoin is the most valuable cryptocurrency in the world that some believe could become a global reserve currency....
NFTs Are Shaking Up Online Investment Circles; What Exactly Are They and Are They a Good Investment?
If you’ve been on the internet recently you have probably run into an NFT or non-fungible token. Investors are pouring millions of dollars of capital into these digital assets that run on a blockchain, the...
Citing Energy Crises, More Countries Are Banning Cryptocurrency Activity and Mining
Prompted by local energy crises, among other things, numerous countries across the globe have implemented restrictions on, or outright bans on, cryptocurrency activity including trading and mining. The most recent country to enact such restrictions...
Bitcoin Plunges Amidst Violence in Kazakhstan
According to the Cambridge Centre for Alternative Finance, in 2021, Kazakhstan became the world’s second-largest bitcoin mining center just after the United States. Kazakhstan saw a significant increase in bitcoin mining activity following China’s crackdown...
Crypto Users Lose More Than $8 Billion to Scams and Hacks in 2021
Although cryptocurrency holders and enthusiasts alike may tout the technology as the future of international finance, its characteristics as cross-border, decentralized, Internet money leave users vulnerable to security flaws not seen in physical assets or...
Bitcoin Miners Flee China Amidst CCP Crackdown, Many Heading for Texas
China is responsible for around 70 percent of Bitcoin blockchain operations in the world, mostly concentrated in the four provinces of Xinjiang, Inner Mongolia, Sichuan and Yunnan. The country is now witnessing an exodus of...
Cryptocurrency Markets Buckle After China Cracks Down Further on Bitcoin Mining, Crypto Trading
China’s central bank urged banks and payment firms on Monday to crack down further on cryptocurrency trading and mining in China, sending the cryptocurrency market into a tailspin and resulting in the loss of billions...