BTC

Firepin will soon beat Bitcoin to become the biggest cryptocurrency in the market Millions of users worldwide have experienced the benefits of investing in cryptocurrency. After all, Bitcoin (BTC) was trading for only $0.0008 when it started, and even if you only bought it a few years later after its creation, you’d have realized so much money than you know what to do with. This appreciation trend has been seen in more cryptocurrencies, although in a shorter while than Bitcoin, and it might just be the time for…

Parody Coin (PARO) is one of the best upcoming meme coins to watch in 2022 and beyond. The cryptocurrency market has been experiencing a slump in prices. It’s been a rough ride as the global economy takes a downturn. Digital assets are in the red but this is also a good opportunity to buy the best value cryptocurrencies at a low cost. These are the cryptocurrencies that will provide great returns in the next bullish crypto cycle. However, the continued selling pressure is also a good buying opportunity for…

Bitcoin miners are spending more than 75% of their earnings in soaring electricity costs, resulting in a significant carbon footprint which is damaging to our environment, a new report revealed on Tuesday.Bitcoin (BTC) mining is a very electricity-intensive process. A recent study has shown that a single Bitcoin transaction consumes about 2165 kWh of electricity which a regular household in the US would use in 74 days."Factor in the roughly $0.14/kWh that an average household pays, and the magnitude of expenditure becomes…

Crypto market is facing volatility for coins like Bitcoin and Ethereum. The events of early May shocked crypto investors all over the globe and the Terra Luna collapse saw 18 billion dollars disappear from the market practically overnight marking the most significant loss event hitherto in crypto. The Federal Reserve System (FED) currently headed by Jerome Powell raised interest rates by 50 base points in May in a desperate attempt to combat raging inflation which seems to be too little too late. Following…

Summary: I will try to distill down monetary theory help you fundamentally understand how currency and Bitcoin is valued. I claim that: 1) Bitcoin has negligible intrinsic value without mainstream use as a transactional currency, 2) that despite this, Bitcoin can still hold value based on a different valuation model, 3) a valuation of Bitcoin, and 4) how a cryptocurrency like Facebook’s Libra affects Bitcoin’s valuation. Let’s start with how the US Dollar, gold, and Bitcoin is valued. How is the USD valued? Quick answer: …

Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday.That would represent a more than 70% drop to Monday morning's price of just over $30,000."When you break below 30,000 consistently, 8,000 is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd told CNBC's Andrew Ross Sorkin in a "Squawk Box" interview at the World Economic Forum in Davos, Switzerland on…

Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies.Jaap Arriens | NurPhoto | Getty ImagesBitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project.The price of bitcoin plunged as low as $26,595.52 Thursday morning, according to Bitstamp data. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 30, 2020.As of 1:30…

Investors in bitcoin are in panic mode as the controversial terraUSD stablecoin slips further from its intended $1 peg.TerraUSD, or UST, sank below 70 cents for the first time late Monday, as holders continued to flee the token in what some have described as a "bank run." The token fell as low as 62 cents before regaining ground to trade at 90 cents Tuesday, according to Coinbase data.Created by Singapore-based Terraform Labs in 2018, UST is what's known as an "algorithmic" stablecoin. Part of the Terra blockchain…

Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index.Luke MacGregor  | Bloomberg | Getty ImagesBitcoin cratered on Thursday as a major stock sell-off in the U.S. spooked the cryptocurrency market.Bitcoin was down more than 8% at $36,251.50 on Friday around 4:03 a.m. ET, according to CoinDesk data. On Thursday, bitcoin dipped below $36,000 before paring some of those losses.Other cryptocurrencies including ether and XRP were also…