Day: July 29, 2022

Will the Bitcoin mining industry collapse? Analysts explain why crisis is really opportunity

Ray Salmond

Bitcoin mining involves a delicate balance between multiple moving parts. Miners already have to face capital and operational costs, unexpected repairs, product shipping delays and unexpected regulation that can vary from country to country — and in the case of the United States, from state to state. On top of that, they also had to contend with Bitcoin’s precipitous drop from $69,000 to $17,600.  Despite BTC price being 65% down from its all-time high, the general consensus among miners is to keep calm and carry on by just stacking sats,…

Crypto’s Slide Hasn’t Bled Into the ‘Real Economy,’ IMF Official Says

Anthony B

Moreover, issues with liquidity hit funds and lenders that bought into Terra’s network. Crypto hedge fund Three Arrows Capital, for example, lost over $200 million with its investment in TerraUSD. Similarly, crypto broker Celsius Network, which has filed for Chapter 11 bankruptcy, blamed its liquidity issues to the “domino effect” stemming from Terra’s collapse. Author: Fran Velasquez Source link

Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible?

Best Owie

Bitcoin has rallied once more above $24,000. This impressive rally follows an intense week where the FOMC’s announcement has basically shown that the United States is now in a recession. Investors had flocked to the bitcoin off the back of the news, causing the digital asset to surge immensely during this time. As the digital asset has beat one important technical level, it remains to see if it can beat another. Accumulation Triggers Rally There are a lot of factors that usually trigger a rally, such as the one that…