Bankrupt BlockFi plans to sell $160M Bitcoin mining hardware loans
BlockFi filed for Chapter 11 bankruptcy in November 2022 citing exposure to the just collapsed FTX. The plan to sell off the loans backed by Bitcoin mining machines is part of the bankruptcy proceedings. Bidders have until before the end of January to submit offers. About two months after BlockFi filed for Chapter 11 bankruptcy, […]
Bitcoin bulls push BTC to highs of $23,300
Bitcoin hit highs of $23,342 on Binance, with a breakout above $22k extending year-to-date gains. BTC price is up 30% in a month and has recovered 47% since the decline to $15,500 lows. Short liquidations were around $376 million in the past 24 hours. Bitcoin price roared to highs above $23,000 on Saturday morning, rising […]
Bitcoin is ‘a hyped-up fraud’
JPMorgan CEO Jamie Dimon previously slammed Bitcoin as a “Ponzi scheme”. On Thursday, he told CNBC’s Squawk Box that crypto is a decentralised Ponzi scheme and that Bitcoin is just “hyped-up fraud.” Dimon says people have lost billions of dollars and believes regulators should have put a stop to crypto “a long time ago.” Not […]
Bitcoin now at its pre-FTX collapse level
At press time, bitcoin (BTC) was trading at $21,507.97. Bitcoin price has surpassed where it stood on November 5 just prior to the FTX collapse. It now stands at its highest price since mid-September last year. 2022 was definitely not a very good year for crypto and especially for bitcoin (BTC) which was trading below […]
Bitcoin and AI: Artificial Intelligence in Crypto
The global AI market is forecast to grow $1394.30 billion in 2023. Investors and traders can tap into AI to benefit from features such as automation and accuracy. Bitcoin and AI also have the capacity to combat frauds in transactions across global markets. Have you ever thought that where technology will extend us, either intelligent […]
Bitcoin hits $18,200 as 13% more of of BTC supply in profit
Bitcoin price jumped more than 5% on Thursday to hit levels above $18,400. According to on-chain data from Glassnode, the price rally has helped return 13% more BTC into profit; now 60.5% of circulating supply is in profit. Only 47%-48% of BTC had been in profit between November 2022 and the start of January, 2023. […]
What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains
Key Takeaways Bitcoin has increased for eight straight days, now up 9.2% on the year Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month […]
Grayscale Bitcoin Fund up 25% this year, but discount still killing investors
Key Takeaways GBTC Fund is up 25% since the start of the year, compared to a 4% rise in the underlying asset, Bitcoin The discount is now back to where it was prior to the FTX collapse, at 37% The discount had hit an all-time high of 50% only four weeks ago The largest […]
Bitcoin price (BTC/USD) could tank further, but you might be excited by this Bloomberg prediction
Bloomberg report projects bullish Bitcoin in 2023 Analysts bank on recession dynamics and central banks’ actions as bull triggers BTC trades on a short-term recovery, with $19,000 in sight Investors may hold their breath, hoping that 2023 will turn out to be a good year for crypto and stocks alike. But even with these hoped-for […]
Buying Bitcoin now? What this could mean
Bitcoin endured a bear market for the whole of 2022 Macro-economic factors have been responsible The bearish market could continue as analysts predicts recession in 2023 There were high hopes as Bitcoin (BTC/USD) surpassed $68,000 at the tail end of 2021. Investors started to bet on $100,000 as the next price level. Renowned investors, including […]