Bitcoin Miners Selling Old ASICs for Scrap as BTC Decline Worsens

Twitter Facebook LinkedIn Over the past several days, there has been much debate within cryptocurrency circles about a series of videos and images allegedly showing Chinese crypto mining firms dumping bitcoin miners on the street. BRUTAL: this is what’s happening now in a China based mining site …. 😨😨 pic.twitter.com/gcN4lVTyBt — Dovey Wan 🦖 (@DoveyWan) November 20, 2018 To some observers, the video and images demonstrated that crypto miners — even those located in China, where low energy rates provide greater profit margins — were beginning to feel the pinch…

Bitcoin (BTC) Crash Causes Crypto Mining Closures and Bankruptcy

Back in 2017, Bitcoin (BTC) and cryptocurrency took the spotlight in the media as investors and Wall Street began to take notice of digital currencies and the blockchain. Many executives in the major global banks shot down digital currencies almost immediately, as Bitcoin was a direct threat to their existence. See, Bitcoin was created to expose the currently flawed central banking system and to completely revamp the way individuals spend and send money. It remains unknown why crypto began to pick up speed towards the second half of 2017, but…

Bitcoin’s Fall from Grace | Warren Buffett Said It All Along

Talk of the crypto-town is Bitcoin’s massive fall from grace. It seemed to be holding steady at around $6,300/$6,400 for most of October, but now it’s holding on for dear life. Mid-November saw the coin drop unprecedentedly. It began crashing and continues to today. At the time of writing, Bitcoin is priced at $4,2oo per coin and down a further 4% on the day. What Happened? Some will blame Bitcoin Cash’s hard fork for creating an industry scare. Some will blame talk of regulatory scrutiny for rattling investors. But others…

Bitcoin Cash Price Drops 12% to All-Time Low at $190, What’s Causing it?

Twitter Facebook LinkedIn Since November 7, the Bitcoin Cash price (BCH) has dropped from $640 to $190, by more than 70 percent. Prior to the hash power war between Bitcoin Cash and Bitcoin Cash SV, a camp led by CoinGeek, Calvin Ayre, and Craig Steven Wright, the price of BCH plunged from $640 to around $450. BCH has continued to extend its loss to the lower end of $200 in the past several days following the incident, finally dipping below the $200 support level in the last 24 hours. Within a…

Bitfury Partners With Russian Economics University to Establish Blockchain Accelerator

Multisectoral blockchain company Bitfury has partnered with the Plekhanov Russian University of Economics to create an accelerator for blockchain projects, Russian crypto news outlet Forklog reports Nov. 21. In addition to supporting the development of blockchain projects, the university will provide courses and additional education dedicated to “training specialists who are able to create innovative projects using digital technologies in a short time.” This will enable specialists to “bring [the projects] to market amid the new industrial revolution,” Dmitry Ufaev, the head of Bitfury Russia, told Forklog. According to Forklog,…

Bearish Pennant Portends Weekend Losses

Twitter Facebook LinkedIn The bitcoin price on Friday expects to close the week on another drop as it slows its upside correction following yesterday’s $400 plunge. The BTC/USD rate is now trading at 4283-fiat, up 4.8-percent from its intraday low. The upside action is taking place as volume drops. It means that traders are showing no support to the move up, and the BTC/USD rate should fall. From a technical point of view, the pair is forming what traders call a bearish pennant. It means that traders are shorting their…

$6 Billion Deleted From Crypto Market as Bitcoin Drops Back to $4,100

Twitter Facebook LinkedIn In the last 24 hours, more than $6 billion was wiped out of the cryptocurrency market as Bitcoin (BTC), the most dominant cryptocurrency in the market, recorded a loss of 8.6 percent from $4,500 to $4,110. On fiat-to-cryptocurrency exchanges like Coinbase, Kraken, and Bitstamp, the price of BTC reached a new weekly low at around $4,118. Bitcoin has since recovered to $4,291, but on a weekly basis, BTC remains 21.65 percent down against the US dollar. Where is Bitcoin Heading Similar to Bitcoin’s strength at $6,000 from…

Crypto ETF Could Launch Bitcoin Price to $20,000 in 2019: BitPay COO

Twitter Facebook LinkedIn With Thanksgiving now in the books and the calendar just days away from turning the page to December, most bitcoin bulls are conceding defeat in regard to their 2018 crypto market predictions. However, the new year is just around the corner, and BitPay COO Sonny Singh believes that 2019 could bring good tidings to the bitcoin price. Speaking during an interview on Bloomberg TV, Singh said that he believed that the crypto market would likely turn a corner at some point during the first two quarters of…

Gibraltar Stock Exchange Wins License for Blockchain Subsidiary

The blockchain subsidiary of the Gibraltar Stock Exchange now has official approval from the island’s financial regulator. The Gibraltar Blockchain Exchange (GBX) announced Thursday that the Gibraltar Financial Services Commission (GFSC) has granted it a license under the jurisdiction’s new regulatory framework for distributed ledger technology (DLT), claiming to be the first stock exchange to own a regulated blockchain exchange. The GBX was first launched in July as an “institutional-grade” token sale platform and digital asset exchange. It currently offers U.S. dollar onboarding and a number of trading pairs against…

79% Drop of Bitcoin is Smallest Major Correction to Date, Not All Gloomy

Twitter Facebook LinkedIn Bitcoin (BTC) has experienced five major corrections to date, and the recent bear market of 2018 is the smallest major correction to date. As seen in a table shared by a renowned trader and technical analyst Peter Brandt, BTC experienced a drop of 79.7 percent in the past eleven months as its price declined from $19,500 to $4,035. On November 21, Bitcoin experienced a steep decline from $4,500 to $4,050 on fiat-to-cryptocurrency exchanges like Kraken and Coinbase. The dominant cryptocurrency swiftly recovered back to $4,500, but the…