Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Recap of todays Celsius Hearing. Judge wasn’t having it!!

The judge was a utter savage! He basically told Kirkland (the Debtors Counsel) to quit their BS. The word “Ponzi” was used very frequently lol. The judge instructed the UCC and examiner to look into a Ponzi designation. The judge literally said that he’s never seen a document like the one they submitted. They tried…
Read more

Dogecoin has been revived with a $10 billion surge since Elon Musk purchased Twitter

submitted by /u/BollocksAsBalls [link] [comments]

Binance Coin (BNB) Struggles To Break Above $335; Here Is What To Expect 

BNB’s price shows strength as it continues its rally, with eyes set on breaking its major resistance of $335, stopping the price from increasing.  BNB could rally more as the price creates a bullish bias and holds above resistance. BNB’s price remains strong on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). The price of Binance Coin (BNB) displayed an incredible price action as the price recaptured its key support of $270 after losing this region a few days ago. The crypto market has enjoyed a little bit of relief bounce across all most assets, with Bitcoin (BTC) and Ethereum (ETH) leading the charge as most crypto assets, including MASK, produced over 50% gains in less than 24 hours. With uncertainty in the crypto market creeping in, it is yet to be known if Binance Coin (BNB) will finally break this resistance. (Data from Binance) Related Reading: Bitcoin Mining Firm Digihost Remains Debt Free Amid Bearish Market Binance Coin (BNB) Price Analysis On The Weekly Chart The crypto market is looking increasingly welcoming as many altcoins continue producing over 150% gains over the past 7 days of breaking out of its range-bound movement. The likes of DOGE have seen some great runs rally. The past weeks were tough for the crypto space, with many altcoins struggling to hold up their key support areas. With the week looking more promising and Bitcoin (BTC) prices gaining traction, the crypto market has enjoyed a measure of relief, but this can not be said for the new month as things begin to look slightly different in terms of prices. After its weekly close of above $300, the price of BNB rallied to a high of $330; the price faced a minor rejection to break higher to a region of $325; the price struggled to break above this region. The price of SHIB has maintained its bullish structure above the $300 region as the price of BNB eyes a rally to a region of $335, acting as resistance for the price of BNB to rally to higher heights. Weekly resistance for the price of BNB – $335. Weekly support for the price of BNB – $300. Price Analysis Of BNB On The Daily (1D) Chart In the daily timeframe, the price of BNB continued to look strong as the price held above its range channel, forming strong support to hold off the price from sellers. BNB currently trades at $324, just above its key support formed at $300 on the daily timeframe after a successful breakout from a range channel with good volume as the price rallied to a high of $335, where it got rejected from trending higher to a region of $400.  If BNB fails to break and close above $335, we could see the price retraced to $300-$270, acting as good support for prices, but if the price breaks past $335, we would expect a rally to a high of $400-$450. Daily resistance for the BNB price – $335. Daily support for the BNB price – $300-$270. Related Reading: Shiba Inu (SHIB) Plays Catchup With DOGE; Will Bulls Push For $0.00002? Featured Image From zipmex, Charts From Tradingview

Bitcoin Miner Selling Power At Lowest For 2022, Green Sign For Market?

On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the metric has observed surges in its value a few times this year, and each time the BTC price has gone down. The “miner selling power” is an indicator that’s defined as the ratio between the Bitcoin miner outflows and the total number of coins held by this cohort (30-day moving average, log-scaled) Here, the “miner outflows” is a measure of the total amount of BTC that miners are transferring out of their personal wallets. When the value of the miner selling power rises, it means the ability of miners to dump their coins is going up right now as they are withdrawing more of them from their reserve. Naturally, such a trend can be bearish for the value of the crypto. Related Reading: Here’s Why The Current Bitcoin Bear Might Last A While Longer On the other hand, low values of the indicator suggest miners aren’t putting much selling pressure on the market at the moment, and hence might prove to be bullish for the BTC price. Now, here is a chart that shows the trend in the Bitcoin miner selling power (log-scaled) over the year 2022 so far: Looks like the log-scaled value of the metric has been on the way down recently | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant points of trend for the Bitcoin miner selling power. It seems like during the past year, the indicator has observed three instances of sharp growth, and around the time of each of these surges, the price of the crypto has taken a beating. Related Reading: Bitcoin Nearing Retest Of Realized Price, Will Bulls Break Resistance This Time? In the last few weeks, the metric has been on a constant decline, suggesting that miners haven’t been selling much during the period. As a result of this downtrend, the Bitcoin miner selling power has now reached its lowest value for the last year. Going by the previous trend, this could be a positive sign for the current rally in the crypto. BTC Price At the time of writing, Bitcoin’s price floats around $20.5k, up 6% in the last week. Over the past month, the crypto has gained 5% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have been moving sideways between $20k and $21k | Source: BTCUSD on TradingView Featured image from Brian Wangenheim on Unsplash.com, charts from TradingView.com, CryptoQuant.com

38% of US voters will consider candidates' position on crypto in midterms: Survey

Initiated by Grayscale, the survey suggested crypto regulation was a bipartisan issue, with the majority of Democratic and Republican respondents saying they wanted clarity.

Theta Network Seems To Be Struggling, Will THETA Rebound?

The Theta coin price saw a spectacular rise in the midst of the crypto market rebound. It broke above the $1.1 resistance level, giving the bulls a springboard to extend their bull run. Still, buyers who have been waiting may get another chance to buy as the altcoin gets closer to the $1.2 resistance. However, it appears that THETA has increased too rapidly within a short time. With a 1.60% increase on the day and a seven-day chart representing a downhill trend in previous days, can we see Theta rebound to its previous highs this new month? Related Reading: Shiba Inu (SHIB) Plays Catchup With DOGE; Will Bulls Push For $0.00002? What To Know About Theta? Theta Network is a blockchain-based, smart-contract-powered decentralized content distribution network with a high throughput capacity. The founders of Theta Network, Theta Lab, created it as a decentralized alternative to traditional video streaming services. These days, the industry is dominated by centralized streaming services like YouTube and Netflix. Theta Lab’s goal is to compete with these established services by providing a decentralized environment with superior video quality and quicker connectivity. Additionally, they are concentrating on cryptocurrency-based gaming solutions. This requires sponsors, developers, users, marketers on the network, and content producers and consumers. It originally debuted as an ERC-20 token. However, it launched its main net in 2019, and all ERC-20 tokens were swapped for THETA tokens at a 1:1 ratio. The network uses the power-saving Proof of Stake consensus mechanism. PoS requires token holders to stake some amount of THETA currency to participate as a validator. Indeed, it has the ability to alter the future steaming ecosystem. What The Charts Say About Theta’s Struggles THETA has been on the rise since finding support at about $0.904. However, the previous two daily candles have been red. Nonetheless, we believe now is an excellent moment to purchase for the short term. A further drop is possible, making now a better time to purchase for the near term. A majority of technical indicators are bullish, pointing to a potentially favorable outlook. However, it might be a poor investment if you don’t purchase it at the support level. We recommend keeping an eye on it to buy when it is likely to take support or consolidate within a range. Weekly THETA candlesticks are developing below the BB and consolidating between $1.2 and $0.8. Over the last two weeks, we’ve had two bullish candles, but this week we’re seeing a red candle, which indicates more consolidation over the next several weeks. A price in the lower part of the consolidation range is a great opportunity to buy for either the short or long term. Price Of Theta In The Long Term The Theta Relative Strength Index (RSI) has dropped recently and is now trading at 65.63. The asset has been trending toward the overbought zone but has seen some recent losses.  Related Reading: Massive Crypto Whale Activity In USDT And USDC Suggests Upcoming Bull Run, How? If the bulls can maintain the pace, they will shortly enter the overbought territory. But while the MACD and signal lines remain in the positive area of the daily chart, the green histograms have been growing in size. Featured image from Pixabay and chart from TradingView.com

Bitcoin Mining Firm Digihost Remains Debt Free Amid Bearish Market

Many Crypto and Bitcoin mining firms have recorded huge losses in 2022 due to the ongoing bear market and extreme economic conditions. As a result, some have packed up, while others declared bankruptcy amid the crypto winter. However, not all the crypto firms got severely affected during the crisis. Some have managed to rise from danger, while others are still struggling. A recent press release revealed that Digihost, a Canadian Bitcoin mining firm remains free from debts. The firm has managed to maintain a positive cash flow despite the downtime facing the entire crypto-mining sector. Related Reading: Trick Or Treat For Bitcoin On Halloween Night? | BTCUSD Analysis October 31, 2022 Digihost has its headquarters in Toronto, Canada. The firm mines cryptocurrency in a low-cost and low-energy consumption data center. Digihost Defies Financial Downtime Among Bitcoin Miners Digihost mined 74.58 BTC, a 78% increase in productivity compared to the 41.84 BTC it mined last year. When other crypto miners are recording bearish returns, Digihost experienced a boost in productivity. The past months in the crypto industry had many uncertainties because of high energy prices and market downtime. Many mining firms, like Core Scientific (CORZ), the highest Bitcoin miner, took the hit. Core Scientific may lean towards bankruptcy if its financial condition remains down. Core Scientific’s shares continued downward in the last month and plummeted by 15% on Friday, October 28. The firm warned its investors about the impending danger of bankruptcy if conditions do not improve. However, Digihost currently holds Bitcoin worth about $2.45 million and ether worth $1.29 million following market prices as of October 31. The firm also holds $3.42 million in cash. Following the financial crisis, Digihost had to sell a portion of its Bitcoin holdings to cover October’s energy cost and remain afloat. Digihost Will Remain Afloat Despite Economic Volatility and Bearish Trends, Says CEO Chairman and CEO of Digihost, Michel Amar, said the firm maintains good liquidity and crypto holdings from month to month despite the economic volatilities. According to Amar, their operation size matches the liquidity cash level and amount of crypto holding. In addition, he noted that Digihost would continue to maintain a debt-free record. The CEO further said the firm maintained its liquidity while internally funding its infrastructure development. He also said they have been securing bonds for electric services. Related Reading: The Inverted Bitcoin Chart Bears Don’t Wanna See | BTCUSD Analysis October 27, 2022 Furthermore, Digihost CEO said they expect to maintain positive cash flow despite the current market conditions, hashing difficulty, and high energy costs. Digihost seeks to continue funding its existing development initiatives and would adhere to its debt-free policy regardless of the bearish conditions. Amar said he is happy to inform Digihost’s shareholders that he acquired shares in the open market as CEO in October. While comparing the firm’s year on performance, its mining added 32.74 BTC in October 2022. Digihost also announced that it received notification of its shares listing on the Nasdaq Stock market. featured Image From Pixabay, Charts From Tradingview

Bitcoin Miner Cleanspark Acquires 3,853 Bitmain-Made BTC Mining Rigs for $5.9 Million

On Nov. 1, 2022, the bitcoin miner Cleanspark revealed it acquired 3,853 Bitmain-brand Antminer S19J Pro mining rigs for $5.9 million. According to Cleanspark, the company has purchased 26,500 bitcoin mining machines since the crypto winter started in June. Cleanspark Purchases 3,853 Antminer S19J Pro Units at $15.50 per Terahash After the bitcoin (BTC) mining […]

3 major mistakes to avoid when trading crypto futures and options

Leverage and hedging strategies are powerful ways to use derivatives contracts, but traders usually succumb to these three major mistakes.

Apple’s absurd new crypto rules expose how out-of-touch it’s become

submitted by /u/ImaFreemason [link] [comments]