Bitcoin’s current setup creates an interesting risk-reward situation for bulls

bitcoin’s-current-setup-creates-an-interesting-risk-reward-situation-for-bulls

A slight improvement in equities markets and the resilience of a few key BTC price metrics are giving bulls hope of a reversal. The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend … Read more

Largest difficulty drop since July 2021 — 5 things to know in Bitcoin this week

largest-difficulty-drop-since-july-2021-—-5-things-to-know-in-bitcoin-this-week

Bitcoin is getting a dose of reality this week as the World Economic Forum convenes and analysts still favor a fresh BTC price drop. Bitcoin (BTC) is off to a better start than most this week as bulls avoid serious losses into the weekly close. Still heavily tied to declining stock markets, the largest cryptocurrency … Read more

3K+ Bit Digital hosting partner’s crypto miners go offline after explosion and fire

3k+-bit-digital-hosting-partner’s-crypto-miners-go-offline-after-explosion-and-fire

The company said it will be seeking reimbursement for the lost revenue from mining crypto, with operations at Niagara Falls “hoped to resume within a few weeks.” New York-headquartered crypto mining firm Bit Digital reported two of its hosting partners ceased operations to more than 4,800 rigs following power disruptions at different facilities.  In a … Read more

How Pizza Day Relates To Bitcoin Mining

how-pizza-day-relates-to-bitcoin-mining

Laszlo Hanyecz’s significant contributions to Bitcoin far outweigh the possible regret he may have for spending 10,000 bitcoin on two pizzas. Memes aside, what is the significance of Bitcoin Pizza Day? When Bitcoiners buy pizza on May 22 every year, what exactly are they celebrating? We all know the story, and we’ve all probably wondered, … Read more

Contrarian Bitcoin investors identify buy zones even as extreme fear grips the market

contrarian-bitcoin-investors-identify-buy-zones-even-as-extreme-fear-grips-the-market

A popular BTC price metric points to “extreme fear” in the market, but contrarian investors say multiple on-chain metrics suggest Bitcoin is in buy territory. Bitcoin (BTC) support at the $30,000 level has proven to be quite resilient amidst the turmoil of the past two weeks with many tokens in the top 100 now showing … Read more

China returns as 2nd top Bitcoin mining hub despite the crypto ban

china-returns-as-2nd-top-bitcoin-mining-hub-despite-the-crypto-ban

China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year. The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) … Read more

Bitcoin bulls aim to flip $30K to support, but derivatives data show traders lack confidence

bitcoin-bulls-aim-to-flip-$30k-to-support,-but-derivatives-data-show-traders-lack-confidence

The BTC futures premium flashed a slightly positive reading, but options markets show extreme fear from whales and market markers. Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to … Read more

Celsius Network’s crypto mining subsidiary SEC filing suggests plans for IPO

celsius-network’s-crypto-mining-subsidiary-sec-filing-suggests-plans-for-ipo

The SEC requires companies in the United States to file an S-1 registration for shares to be listed on a national exchange, like the Nasdaq or New York Stock Exchange. Celsius Mining, the mining subsidiary of crypto lending platform Celsius Network, has filed paperwork with the United States Securities and Exchange Commission, or SEC, suggesting … Read more

Seven Companies You Wouldn’t Expect To Be Mining Bitcoin

seven-companies-you-wouldn’t-expect-to-be-mining-bitcoin

What do health and wellness brands, logistics companies and your local Bitcoiner have in common? They’re all hash rate fiends! As the Bitcoin network’s hashrate continues growing, the dynamics of the mining industry and the types of participants are more diverse than ever. Of course, most bitcoin investors are familiar with self-mining, billion-dollar-market-value giants like … Read more

Norwegian Bitcoin Mining Ban Was Struck Down

norwegian-bitcoin-mining-ban-was-struck-down

A bill banning bitcoin mining, authored by the communist party in Norway, was struck down by a majority vote in the Norwegian parliament. A bill seeking to ban energy intensive mining for cryptocurrencies like bitcoin was struck down by the Norwegian parliament on May 10. The communist Red Party who authored the bill was supported … Read more