Category: Cryptocurrency News

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The amount of Bitcoin FTX.US gives is yet to be determined, and will be based on the East Coast time its Super Bowl ad runs.

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Considering getting a mining rig whenever this happens. Will Etherum likely go down in price because more Etherum will be mined as a result? submitted by /u/captainofthememeteam [link] [comments]

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Bitcoin gained pace above the $42,000 resistance zone against the US Dollar. BTC is now surging and might even surpass the $45,000 resistance zone in the near term. Bitcoin started a strong increase above the $42,000 resistance zone. The price is trading well above $42,000 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $44,500 resistance zone in the near term. Bitcoin Price Rallies 5% Bitcoin price gained bullish momentum after there was a close above the $40,000 level. BTC even cleared the $42,000 resistance zone to move further into a positive zone. The recent upward move gained pace above the $43,000 level. Finally, the price spiked above the $44,000 level and settled above the 100 hourly simple moving average. A high is formed near $44,528 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. There is also a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $44,500 level. The next major resistance is near the $45,000 zone. A clear upside break above the $45,000 resistance level could spark additional gain. In the stated case, the price could even rise towards the $46,500 resistance zone. Dips Supported in BTC? If bitcoin fails to start a fresh increase above $44,500, it could start a downside correction. An immediate support on the downside is near the $43,750 zone and the trend line. The first major support is seen near the $43,000 zone. It is near the 50% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. If there is a downside break below the $43,000 support, the price could slide towards the $41,200 support and the 100 hourly simple moving average. Technical indicators: Hourly MACD – The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 60 level. Major Support Levels – $43,500, followed by $43,000. Major Resistance Levels – $44,500, $45,000 and $46,500.

The New York State Department of Environmental Conservation (NYSDEC) has delayed its decision whether it will allow crypto mining firm Greenidge Generation to continue to use its power plant in the town of Dresden for bitcoin mining, according to a recent report from Bloomberg. The decision by the state’s Department of Environmental Conservation will now come by the end of March. Related Reading | Why Bitcoin Could Hit $90K By The End Of 2022, According To This Prediction New York & The Environmental Debate The decision is now expected to come by March 31, two months later than originally planned, the report said. The delay will reportedly help NYSDEC complete its review with public comments, citing a spokesperson’s position on the matter. On December 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining operation in New York in a detailed letter. The senator later targeted six more crypto miners, questioning their energy usage. On January 16, Greenidge said that due to high electricity demand resulting from recent cold weather, the company temporarily curtailed cryptocurrency mining operations in Dresden the day prior. This was done to supply all its electrical generation capacity to the New York Independent System Operator. The miner applied last year to renew its permits for the plant, the first time it’s come up for renewal since it has been powering bitcoin mining operations. BTC: Bitcoin, after hitting all time high of 69k in November 2021, has fallen almost half since, but could be back on the road to recovery. | BTC:USDtradingview.com Could Extreme Weather Cause Further Delays? Crypto mining has had major pushback from many people and environmentalist groups over the years. New York’s power grid could face challenges in the 2021-2030 period, including higher demand spurred by extreme weather and delays in planned projects, the state’s power grid operator said in a public statement earlier this month. Reporters, analysts, and others chimed in on how things are going, and the impact on progress for crypto and the environment it operates in. “Governor Hochul is taking bold, nation-leading actions to confront climate change head-on, and DEC (the Department of Environmental Conservation) is actively reviewing proposals regarding the role of cryptocurrency mining in New York’s energy landscape, especially in light of the Climate Leadership and Community Protection Act,” stated spokesperson Madia Coleman said in a statement. The act Coleman references is the state’s climate law mandating steep emissions reduction over the next three decades. Policy advocate Liz Moran put in her thoughts on the bill and how it will effect things moving forward. “A moratorium on fossil fuels is a common sense first step, but we would like to see the state go farther and evaluate the potential environmental harms of the industry as a whole.” The New York Independent System Operator (NYISO), in its comprehensive reliability plan (CRP), also said during normal weather conditions that its power system is expected to meet all applicable reliability standards during that period. As time moves on, we will learn more about the bill and if it will cause delays or all out stop fossil fuel crypto mining. Related Reading | Will Crypto Mining Survive Another Government Crackdown?  

A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency […]

Another token bridge suffered a malicious attack where tokens were minted by a hacker through a smart contract exploit, eventually leading to a cascade effect across other DeFi networks.

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