Bitcoin Prices Are Trading At An ‘Extreme Discount,’ Says Bloomberg Analyst

Bitcoin is significantly undervalued, according to several analysts. Getty Bitcoin is currently trading at a substantial discount, according to Bloomberg Intelligence senior commodity strategist Mike McGlone. He provided this assessment as the digital currency, the most valuable in terms of market value, has been stuck below $25,000 since June, TradingView data shows. McGlone relied on … Read more

WazirX, CoinDCX, ZebPay See 100% Increase In Crypto Trade Volume This Week, Bitcoin Rises

This week, crypto exchanges WazirX, ZebPay, and CoinDCX saw a more than 100 per cent increase in cryptocurrency trading volume, as optimism returned to the world’s crypto markets. On average, the overall transaction volume on each exchange increased by 118 percent, up from $1.6 million on July 17 to more than $3.5 million on July … Read more

Dutch Central Bank Fines Binance $3.3 Million, Bitcoin Rises

The Dutch central bank had slapped crypto exchange Binance with a fine of $3.35 million in April 2022, the Dutch central bank has said. Binance was providing services to Dutch nationals without having undergone through the proper registration process, which led to the imposition of the penalties. While estimating the quantum of the fine, the … Read more

Paraguay’s Senate Passes Bill Regulating Bitcoin And Crypto Mining, Trading; Bitcoin Rises

The Paraguayan Senate on Thursday re-approved a bill governing cryptocurrency mining and trade in the country. The Senate had previously approved the bill in December, but the Chamber of Deputies modified it and later approved it in May this year. It consequently went back to the upper house for approval. The measure must now be … Read more

Here’s what the market wants to see

Cryptocurrencies have taken a tumble in 2022. Chesnot | Getty Images An improvement in macroeconomic factors, a particular trading pattern and a further shakeout of companies and projects could be the key ingredients required for bitcoin and the broader crypto market to bottom, industry players told CNBC. Bitcoin has plummeted more than 70% from its … Read more

How Will This Affect Bitcoin Prices?

High inflation figures could be bearish for bitcoin in the short-term. (Photo by Chesnot/Getty … [+] Images) Getty Images Headline U.S. inflation figures hit a multi-decade high last month, exceeding the expectations of multiple analysts. The Consumer Price Index for All Urban Consumers (CPI-U) climbed 9.1% during the year through June before seasonal adjustment, Bureau … Read more

Blockchain Platform Seracle Announces Launch Of Web 3 NFT, Bitcoin Rises

Blockchain-as-a-Service (BaaS) platform, Seracle has announced the launch of Web 3.0 non-fungible token (NFT) infrastructure for brands and corporates across sectors to help them create their own customised NFT marketplaces. The company announced in a press release that the infrastructure is suitable for companies and brands in sectors such as entertainment, e-commerce, gaming, social media, … Read more

Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

1. Macroeconomic pressure During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, … Read more

Bitcoin (BTC) on track for its worst quarter in more than a decade

Bitcoin is on track to post its worst quarterly loss in more than a decade. The world’s largest cryptocurrency has lost around 58% of its value in the second quarter of 2022, according to data from CryptoCompare. Bitcoin has fallen from $45,524 at the start of the quarter and was trading at around $18,000 on … Read more

Bitcoin falls below $19,000 again as pressure mounts on crypto firms

Bitcoin price remained under pressure in June as a number of factors including rising rates and a liquidity crisis in the crypto industry weighed on the world’s biggest cryptocurrency. Westend61 | Westend61 | Getty Images Bitcoin on Thursday briefly fell below $19,000 as the world’s largest digital currency remains under pressure from macroeconomic worries and … Read more